F. Liability of pawnbrokers in respect of loss and damage

F. Liability of pawnbrokers in respect of loss and damage

If, before the expiration of the period for redemption (i.e. 4 months from the date of the loan is made on the security of the pawned goods) and due to the default, neglect or misfeasance of the pawnbroker:

1. The pawned goods become stolen, lost, improperly disposed of, destroyed, damaged or impaired in value; or
2. The pawnbroker has failed to withhold the pawned goods in accordance with section 16 of the Pawnbrokers Ordinance (Cap. 166),

the pawnbroker must make good all loss or damage caused to a borrower or owner of goods pawned. 

The liability of the pawnbroker for loss and damage shall not exceed, in respect of any one article pawned, the sum specified in the First Schedule to the Pawnbrokers Ordinance (Cap. 166) (currently HK$100,000).