TERMS AND CONDITIONS OF SALE

1.      This sale of vehicles listed in the Proclamation of Sale is made by PRAISE MILLION SDN. BHD., (hereinafter called “the Auction House”) as agent for the Seller of the Vehicles (hereinafter referred to as “the Legal Owner”) is subject to the regulations implied or imposed upon or relating to or affecting the subject vehicle.

2.      All Purchasers/Bidders or the Public enter the Auction House premises entirely at their own risk. The Auction House has the right, exercisable at its complete discretion to refuse admission or attendance of any person(s) to the vehicle display yard, Auction premises or bidding at the auction sale

3.      All intending bidders are required to register and deposit with the Auctioneer a sum of RM1,500.00 (per vehicle) by Bank Draft/Cashier’s Order/Cash in favor of PRAISE MILLION SDN. BHD., prior to the auction sale. Any intending bidder who intends to bid on behalf of another person, body corporate or firm is required to deposit with the Auctioneer an authorization  letter to state that he is acting on behalf of another person, body corporate or firm, prior to the auction sale. A copy of principal’s Identity Card or Company Resolution to this effect must be attached with the authorization letter

4.      Subject to the Reserve Price, the highest bidder, being so allowed by the Auctioneer, shall be the Purchaser. The Auctioneer reserves the right to regulate the bidding and shall have the sole right to refuse any bid without giving any reasons whatsoever for the refusal. If any dispute shall arise as to the highest bidder, the vehicle shall, at the option of the Auctioneer be put up again for sale and re-sold or the Auctioneer may decide the dispute.

5.      No bid shall be less in advance of the last previous bid than a sum to be fixed by the Auctioneer at the time of the sale and no bidding shall be retracted. Should there be any retraction from the bidder before the fall of the hammer, the deposit of RM1,500.00 shall be forfeited to the Auction House (credited to the account of Legal Owner and auction House) and the vehicle shall at the option of the Auction House be put up for sale again or the Auction House may decide to adjourn the auction sale to another date.

6.      Immediately after the fall of the hammer, the deposit pursuant to Clause 3 above shall be treated as payment of deposit and towards part payment of the purchase price and the Purchaser shall sign the Memorandum of Contract

7.      In the event that the Purchaser fails to sign the Memorandum of Contract, the deposit paid pursuant to Clause 3  herein shall be forfeited by the Auction House (credited to the account of Legal Owner and Auction House) and the vehicle shall forthwith be again put up for sale. The deficiency in price (if any), which may result from a re-sale or the purchase money if there is no re-sale as the case may be shall be recoverable from the defaulting Purchaser.

8.      The balance of the purchase price shall be paid in full by the Purchaser within Ten (10) days from the date of auction sale to the Legal Owner. Any extension may attract a penalty charge. However, the period of Ten (10) days may be extended by the Legal Owner at its absolute discretion upon written request by the Purchaser before expiry date provided if any extension is granted, the Purchaser shall pay the Legal Owner storage charges and interest at the rate to be determined by the Legal Owner at its absolute discretion on the balance purchase price calculated on a daily basis until full payment of such amount on or before the extended expiry date.

9.      In default of such payment of the balance of purchase price or any interest payable for any extension of time which may be granted for the payment of the balance purchase price within the time and in the manner as stipulated in Clause 7 above, the deposit paid pursuant to Clause 3 above shall be forfeited by the Legal Owner and the vehicle may be put up for sale by the Legal Owner at its sole discretion. The cost of such resale together with either the deficiency in price (if any) which may result from a resale or the balance of the purchase price if there is no resale shall be recoverable from the defaulting Purchaser as the case may be.

10.    Upon full payment of the balance of the purchase price in accordance with Clause 8 above and the interest (if any) payable in respect of the extension of time granted there under, the Legal Owner shall execute or cause to be executed at the Purchaser’s cost and expenses (such as transfer fees, stamp duty and registration fees) a Transfer (K3) in favor of the Purchaser. Thereafter and upon the Purchaser’s payment of all such cost and expenses of the Transfer, the Legal Owner shall deliver to the Purchaser the duly executed Transfer and the Original Registration Card, if available.

11.    Any request for the refund of monies paid by the Purchaser shall only be allowed provided that:-

a)   the Purchaser furnished to the Legal Owner with documentary evidence from the Jabatan Pengangkutan Jalan confirming that the transfer of ownership for said vehicle being duly presented for registration within thirty (30) days after receipt of the documents for registration from the Legal Owner and further provided that the said claim for refund must be made with the Legal Owner not later than thirty (30) days after receipt of confirmation of non-registration of ownership from the Jabatan Pengangkutan Jalan. The said refund by the Legal Owner shall be limited and not exceeding the amount paid and shall be free of interest and the Purchaser shall have no other claims against the Legal Owner and the Auction House.

b)   In the event that the Transfer cannot be effected due to reasons attributed to the Legal Owner only. If the transfer cannot be effected due to traffic offences or summons not paid to the relevant authorities, the Legal Owner or the Auction House will not entertain nor be responsible for the refund.

c)  The Puspakom inspection of the vehicle(s) at Purchaser’s own cost is done while the vehicle(s) is still in the Legal Owner’s Authorised store yard

d)   All   terms and conditions on refund that may be imposed from time to time by the Legal Owners are fully complied with

12.    The Purchaser shall admit the identity of the vehicle purchased by him with that comprised in the muniments offered by the Auction House.

13.    The vehicle is believed and shall be taken to be correctly described and the Purchaser shall deemed to have full knowledge of the state and conditions of the vehicle and no error, mis-statement or mis-description shall annul the sale nor shall any compensation be allowed in respect thereof.

14.    The Purchaser after the payment of the balance of the purchase price in full together with accrued interest thereon (if any) shall at his own cost and expenses take possession of the vehicle without obligation on the part of the Auction House, the Auctioneer or their respective servants or agents. Time is the essence of the buyer’s obligations under these conditions. If the Purchaser fails to remove the goods after the payment of the balance of the purchase price, the Purchaser is liable to pay the Auction House for each week or part of the week during which the goods or part of them remain uncollected, a storage rate calculated in accordance with the current storage rate for goods of the same type charged by the Auction

15.    For the purpose of these conditions the time allowed by the conditions for the payment of the balance of the purchase money (namely 10 days) shall be deemed to be the essence of the contract 

16.    The Purchaser is deemed to have made independent checking and verification as regards to particulars of vehicles with all relevant authorities to his satisfaction and no express representation as regards the accuracy of the particulars of the vehicle is made and the Auction House and the Auctioneer disclaims liability for representations made.

17.    The vehicle is sold on an “as is where is” basis. Statements made by Auction House in the auction documents or made orally from the rostrum or in writing elsewhere regarding the vehicles are merely the best data and facts that are available and not to be relied upon as definite statements. No allowance or refund will be made, nor will any purchasers be permitted to reject any lot on the grounds that it is not correctly described in the Auction Catalogue. All purchasers must accept the vehicles with any faults they may have and the vehicles are at the purchasers’ risk from the fall of the hammer, after which the Auction House and the Auctioneer is free of all the responsibility for safeguarding the vehicles and is not liable for any loss or damage to them, even if that loss or damage is caused or contributed to by any act, neglect or fault of the Auction House or its servants or agents

18.    The Auction House shall be at liberty to postpone, call-off or adjourn the public auction at any material time without having to provide any reasons or grounds whatsoever.  The Auction House, Legal Owners, The Auctioneer or their respective servants or agents shall under no circumstances be liable to any bidders or purchasers for any kind of loss or expenses suffered or incurred by the bidders or purchasers arising out or in connection with or in respect of the sale for any reason whatsoever

19.    The year shown in the Proclamation Of sale for each motor vehicle may be either the year in which the vehicle was manufactured or year of registration.

20.    The sale of the vehicle(s) in the auction is subject to Section 18(4) (a) of the Hire Purchase Acts 1967 (Act 212) (if applicable) and that the right to bid on behalf of the Hirer under a Hire Purchase Agreement is reserved whereby the Hirer or anyone person on his behalf may bid at the auction.

21.    Appropriate Government Duties and Sales Tax will be added to the purchase price where applicable or to be borne by the Purchasers

22.    ADDITIONAL TERMS AND CONDITIONS ON SALES APPLYING TO VEHICLE WITHOUT REGISTRATION CARD

The purchasers expressly acknowledge that:-         
I)          No condition or warranty as to roadworthiness of

            the vehicle/chattel put up for auction.
ii)         No condition or warranty as to availability of

            registration card of the vehicle/chattel put up for 

            sale.
iii)         No condition or warranty that JPJ would issue a

            new / duplicate registration Card of the vehicle /

            chattel put up for auction.
iv)        No refund of the purchase prices in the event that

            the transfer to the purchaser cannot be registered  for any reason whatsoever unles with    the consent of the Legal Owners.
v)         All implied conditions and warranties under the Sale of Goods Act are specifically

            negated and excluded.

23.       ADDITIONAL TERMS AND CONDITIONS OF SALES APPLYING TO DISMANTLED VEHICLE /SCRAP PURPOSE ONLY

The purchasers expressly acknowledge that:-
i)          No refund will be entertained in the event of non-registration, seizure, and Forfeiture of

            the vehicle by any relevant authorities and/or any other reasons whatsoever.

ii)                   No condition or warranty is made that the vehicle will be registered with any relevant authorities.

iii)                 No condition or warranty as to roadworthiness of the vehicle/ chattel put up for auction.

iv)                 All implied conditions and warranties under the Sale of Goods Act are specifically negated and exclude.

REMARKS: PLEASE READ CAREFULLY AND UNDERSTAND THE TERMS AND CONDITIONS OF THE VEHICLES PUBLIC AUCTION ABOVE AND CONDITIONS OF SALE OF THE LEGAL OWNERS / SELLERS BEFORE  BIDDING.