Sunday, August 3, 2014

What are the special features between Pawning and Trust Receipt

What are the special features between Pawning and Trust Receipt

Feature                                   Trust Receipt                                       Pawning

Govern by                              Trust Receipt Ordinance                     Civil Ordinance
Possess                                   Bank                                                  Customer/ Creditor
Control of goods                    Customer/ Creditor                             Bank
Registration                           within 21 days land registry                 No need
Default                                   Criminal offence                                 Civil offence

Offer                                       High Credit Risk                                Low Credit Risk

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