There are no specific laws or regulations prescribing online pawning. Currently, pawning in Thailand is governed by the general provision of pledge under the Civil and Commercial Code (CCC). The provision prescribes that the pledge will be legally valid when the pledgor delivers any movable property to the pledgee as a security for the performance of an obligation, and the agreement need not be in writing.
On November 5, 2015, the Business Collateral Act B.E. 2558 (2015) (BCA) was passed into law.The BCA establishes a new category of nominate contract called a “business collateral agreement,” in which a “security provider” places property with a “security receiver”, as security against debt repayment, with no requirement to deliver the property to the security receiver. However, the agreement must be registered online with the Department of Business Development (DBD).
No data available.
Online pawning may not be legally enforceable, unless the movable property has been delivered so it is in the possession of the pledgor.
Please note that private pawnshops in Thailand provide online services for valuation of property, but the pledge agreement must be concluded at the pawnshop, whereby the pledgor delivers the movable property to the pledgee.
Athistha (Nop) Chitranukroh
Piyanuj (Lui) Ratprasatporn