Pawnshops in Taiwan Province Province will have a blue curtain with the word "Pawn" written in red. In addition to watches and jewelry, some pawn shops also accept cars and motorcycles as pawn shops (called "car pawn shops"). Overdue pawns are called "pawns", and pawns are usually auctioned or outsourced by pawn shops themselves. In addition to private pawn shops, some places also operate public pawn shops, which are called "chattel mortgage institutions".

The pawnbroking industry in Taiwan Province Province can be traced back to the Japanese occupation period, 1949 when the central government moved to Taiwan Province. Most of the compatriots who moved to Taiwan Province made a living for pawn shops with gold, silver, jewelry and other items. Therefore, the pawnbroking industry flourished, with a monthly interest rate as high as 23%. 1952, Taiwan Province province * * * ordered all counties and cities to set up public offices by official letter to help the people's living funds turn around and apply for low-interest loans with goods as collateral.

As a result, four public pawn shops were established in Taipei, namely, Chengzhong (downtown Taipei), Chengxi (Wanhua), Chengbei (Avenue City) and Chengnan (Gu Ting), and opened in the same year. Taipei Public Pawnshop is now a movable property mortgage firm in Taipei.

Pawnshop method

Pawnshops in Taiwan Province Province are franchised industries, and those without business licenses are not allowed to operate.

Pawnshops shall not charge any fees except the monthly interest rate (the interest rate shall be subject to the annual interest rate, and the maximum interest rate shall not exceed 30%) and may charge warehouse rental fees and insurance fees as appropriate.

The maximum amount of storage fees and insurance premiums mentioned in the preceding paragraph shall not exceed 5% of the monthly interest.

At present, pawn shops are managed according to the Pawn Law, and the Legislative Yuan has enacted Article 38 of the Pawn Law in 2009. The early pawnbroking industry in Taiwan Province Province was managed according to the Management Rules of Pawnbroking Industry (Abolished) promulgated by the Ministry of the Interior and the Ministry of Economic Affairs.

(from: discussion forum)

References: 1 Comparison of Pawnshop Laws in Joe Cheng, Japan and the United States 2 Cai Qinghui American Pawnshop Taobao 3 Wang Mengxiong rediscovered English vocabulary-Pawnshop.