Research Paper - Pawnshop System Design
Bulacan State University Sarmiento Campus
City of San Jose Del Monte Bulacan
Research Methodologies
Pawnshop System Design (PSSD)
Submitted by:
_______________________
Submitted to:
_______________________
Instructor
Date:
March 25, 2011
CHAPTER I
The Problem and its background
INTRODUCTION The fusion of computer technology and communication technology gave birth to new era of digital age (William Sayer, 2003). This fusion is what we know today as information technology. Information technology is the collaboration of industries dealing with computer, telephone, and various handheld devices. These technologies greatly affect the business industry. Pawnshop System (PSS) is an individual or business that offers secured loans to people, with items of personal property used as collateral. The word pawn is derived from the Latin pignus, for pledge, and the items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral. The system is intuitive and easy to use. The Pawnshop System (PSS) if an item is pawned for a loan, within a certain contractual period of time the pawner may purchase it back for the amount of the loan plus some agreed-upon amount for interest. The amount of time, and rate of interest, is governed by law or by the pawnbroker's policies. If the loan is not paid (or extended, if applicable) within the time period, the pawned item will be offered for sale by the pawner/secondhand dealer. Unlike other lenders, though, the pawner does not report the defaulted loan on the customer's credit report, since the pawnbroker has physical possession of the item and may recoup the loan value through outright sale of the item. The pawner/secondhand dealer also sells items that have been sold outright by customers to the Pawner or secondhand dealer.
STATEMENT OF THE PROBLEM
General Problem The general problem in The Pawnshop System (PSS) is how long would it takes
City of San Jose Del Monte Bulacan
Research Methodologies
Pawnshop System Design (PSSD)
Submitted by:
_______________________
Submitted to:
_______________________
Instructor
Date:
March 25, 2011
CHAPTER I
The Problem and its background
INTRODUCTION The fusion of computer technology and communication technology gave birth to new era of digital age (William Sayer, 2003). This fusion is what we know today as information technology. Information technology is the collaboration of industries dealing with computer, telephone, and various handheld devices. These technologies greatly affect the business industry. Pawnshop System (PSS) is an individual or business that offers secured loans to people, with items of personal property used as collateral. The word pawn is derived from the Latin pignus, for pledge, and the items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral. The system is intuitive and easy to use. The Pawnshop System (PSS) if an item is pawned for a loan, within a certain contractual period of time the pawner may purchase it back for the amount of the loan plus some agreed-upon amount for interest. The amount of time, and rate of interest, is governed by law or by the pawnbroker's policies. If the loan is not paid (or extended, if applicable) within the time period, the pawned item will be offered for sale by the pawner/secondhand dealer. Unlike other lenders, though, the pawner does not report the defaulted loan on the customer's credit report, since the pawnbroker has physical possession of the item and may recoup the loan value through outright sale of the item. The pawner/secondhand dealer also sells items that have been sold outright by customers to the Pawner or secondhand dealer.
STATEMENT OF THE PROBLEM
General Problem The general problem in The Pawnshop System (PSS) is how long would it takes