Loan Term Pawns loans are issued for a 30 day period, terminating on the indicated "Maturity Date" printed on the pawn ticket. Payment of fees & service charges are due on or before the "Maturity Date" indicated on your pawn ticket. Redemption Payments Property used as collateral for the loan may be redeemed by paying the loan principle and pawn & service fees by the "Maturity Date". Renewal/Extension Payments Pawn loans are extendable for additional 30 day increments by paying the pawn & services fees on or before the "Maturity Date" printed on the pawn ticket Late Payments A minimum payment of pawn & service fees are due and payable by the "Maturity Date". In the event that payment is not made by the "Maturity Date", a required 30 day "Grace Period" is automatically available, ending with the "Default Date", and this "Default Date will also be printed on the pawn ticket. However, additional pawn fee & service charge equal to the original pawn fee & service charge is assessed and added to the amount due, for any portion of the "Grace Period", and is to be paid on or before the "Default Date". The "Default Date" is the Final date prior to the pawned property enters foreclosure, and legal title to the property transfers to the pawnbroker by operation of law. Non-Payment Pawn customers are never obligated to redeem their property nor are they obligated to make pawn fee & service charge payments. Failure to pay the agreed amount by the agreed time will result in the pledged property to become the property of the pawnbroker, by operation of law, and the original owner forfeits all rights and interests in the collateral. Being a non-recourse loan means that the customer knows upfront the loss they will sustain by the loss of the property pledged for the loan. Annual Percentage Rate (APR) The monthly pawn fees & service charges are regulated by the State of Florida and are allowed up to 25% of the loan principle. The full fee effective APR is 304.17%. This monthly fee is all-inclusive for evaluation, processing, storage, required reporting activities and all other expenses.