Recovery of Gold Zewarats from Defaulters

LOLC Microfinance Bank is undertaking the recovery of gold jewelry (Zewarats) pledged by defaulters who have failed to repay their loans despite legal and repeated reminders. This procurement is focused on reclaiming the pledged gold items from the defaulters within the stipulated time frame. The bank has issued a public notice informing that the pledged gold will be auctioned if not returned within 7 days. Items being procured: - Gold jewelry pledged by defaulters: 11.5 grams from Sawabi - Gold jewelry pledged by defaulters: 95.3 grams from Peshawar The technical scope involves the physical recovery and verification of the pledged gold items from the respective defaulters in Sawabi and Peshawar. The process requires careful handling and documentation to ensure compliance with banking and legal standards. The bank expects the recovery to be completed by the specified dates to avoid auctioning the items. Eligibility criteria include legal authority to recover pledged assets, experience in handling gold recovery or similar financial asset recovery, and compliance with banking regulations. The bidders should be familiar with the local jurisdictions of Sawabi and Peshawar and have the capacity to execute recovery within the deadlines. The key dates for recovery are 11th August 2026 for Sawabi and 13th August 2026 for Peshawar, with a final deadline of 1:00 PM on the respective days. Interested parties should coordinate with the bank promptly to ensure timely recovery. A practical tip for bidders is to maintain clear communication with the bank and the defaulters to avoid delays. Proper documentation and verification of recovered items will be crucial to prevent disputes. Early mobilization and local presence in Sawabi and Peshawar will enhance the chances of successful recovery within the short timeframe.