V.Ahmedov: Problems Exist in Pawnshops� Activities

Baku / 06.06.19 / Turan: The draft law On Pawnshops was seriously criticized at the meeting of the parliamentary committee on economic policy, industry and entrepreneurship.

A member of the committee, MP Vahid Ahmedov said it was precisely the shortcomings in the activities of pawnshops that made it necessary to improve the bill.

"Problems are in the evaluation of property pledged by citizens, in the preservation of it in the form in which the things were handed over to the pawnshop. For example, a citizen put a thing worth 10,000 manat to a pawnshop. The pawnshop estimates it at 2,000 manat. If a thing costs 10,000 manat, then it must be registered at the same price. It turns out that there are some interests here if the thing is not registered at its true price. For this reason, such points need to be eliminated," said Vahid Ahmedov.

When registering a pledge, a license, receipt and agreement is required. In this connection the MP believes that a single contract will be enough for both parties.

"However, this agreement should sufficiently reflect the interests of both parties so that the issue does not go to the judicial plane," said the MP.

Vahid Ahmedov believes that an agreement that takes into account the interests of the parties may also prevent citizens from wasting time in the courts.

He is convinced that the adoption of the law "On Pawnshops" is very important in order to prevent arbitrariness in this area, therefore, to adopt a perfect law, the draft law submitted to the committee should be reconsidered and improved anew.

The MP stressed that after the adoption of the bill in the first reading there is still the second and third reading. During this process, there is time to bring the bill in the right shape.

According to Ahmedov, the draft provides for a citizen to go to court if the pawnshop does not accept the proposed items or wishes to sign the contract.

"The committee believes that this article should be brought into such a state when the pawnshop will be obliged to accept the proposed thing," said Vahid Ahmedov. -0-