Collateral Details

The collateral submitted should belong to the person applying for the loan.
The item should be in good and usable shape and be of greater value than the amount being claimed.
Failure of repayment will result in the item (Collateral) being disposed of.
Upon failure of repayment, Maximum time frame for keeping the collateral is 10 days after which the item will be disposed of.
Accepted forms of collateral at the moment are;

In the case that the client finds their collateral item is not in the state that it was in at the time it was being handed in, these terms apply;

The client should give feedback within 24 hours of what is wrong with the collateral item.
The client should not state what was already damaged before it was handed in, the problem should have developed while the collateral was in our care.
In the case that the collateral item got lost while in our care, we will either replace the collateral item or compensate the client in monetary form.
Replacement or compensation will be done in a period within and not more than 28 days, by which the first day counts as the day we (Client and Us [Cents]) both agree that the item got damaged while in our care.
In the case that the collateral item cannot be repaired by technicians within the country and fixing or replacing the collateral item requires crossing national boarders (Either physically or using the internet) the client is bound to accept monetary compensation.