Singapore legislation
Section 62
Section 62
Notice of forfeiture
(1)
A notice of forfeiture must contain the following information:
the name of the pawnbroker;
the pawn ticket number;
a statement that the pledge will be forfeited one month after the date on which the notice is served, and that the pledge may be redeemed at any time before it is forfeited;
the amount to be paid to redeem the pledge or extend the redemption period;
a valuation of the pledge at the time the notice is issued;
the address and business hours of the licensed place of business at which the pledge can be redeemed; (g)any other particulars that may be prescribed.
(2)
A pawnbroker is not liable for any loss or damage suffered (whether by the pawner or by any other person) as a result of relying on a valuation provided under subsection (1)(e), unless the pawnbroker did not act in good faith or take reasonable care in providing the valuation.