1.0 General
1.1 The auction is conducted by KSL WAREHOUSE SDN. BHD. (318544-X)(‘Auctioneer’) as agents for the legal owner (‘Seller’) of the motor vehicles (‘Vehicles’) listed in the Proclamation of Sale, subject to the terms and conditions herein.
1.2 By participating in this auction, the persons intending to bid in this auction (‘Bidders’) confirm that:
(i) the valuation / pricing of the Vehicles are made by the Bidders based on their own independent judgment;
(ii) they participate in this auction on their own free will;
(iii) they have understood, agree and have obtained own independent legal and expert advice on this terms and conditions;
(iv) they authorise the disclosure of their details to relevant authorities, including but not limited to, the Road Transport Department, the Royal Malaysian Police Department and Puspakom Sdn Bhd (collectively ‘Authorities’) for any purpose as may be required by the Authorities.
1.3 Time, wherever mentioned herein, shall be deemed to be of essence in this terms and conditions.
1.4 The Legal Owner, the Auction House, the Licensed Auctioneer or their respective employees, servants and agents shall under no circumstances be liable to the bidder or Purchaser for any loss or expense, howsoever suffered or incurred, arising out of or in connection with or in respect of the auction or sale. The sale of the vehicle shall not, in any way, render the Legal Owner, the Auction House, the Licensed Auctioneer or their respective employees, servants or agents, liable for any loss, defect, damage or destruction before, during of after the sale by either by theft, fire or any cause whatsoever.
1.5 The Auctioneer has the absolute discretion to refuse admission of / remove any person from the auction premises.
1.6 The headings herein contained are inserted merely for convenience of reference and shall be ignored in the interpretation of any of the clauses and provisions herein contained.
1.7 Any term relating to auctions or automobile not specifically defined herein shall be construed in accordance with the general business practice and trade of auctions or automobile industry.
1.8 Words importing the singular number includes the plural number and vice-versa. Words importing the masculine gender include the feminine and neuter genders. Words applicable to natural persons include corporation and business entities.
1.9 The Auction House is registered under the Goods and Services Tax Act 2014 of Malaysia. All fees, premium, storage costs and other charges imposed by the Auction House are taxable supplies chargeable to Goods and Services Tax (GST).
i. in accordance to the Royal Malaysian Customs Good and Services Tax (GST) guide on Auctioneer (dated 18 July 2013), the auction prices for goods which belongs to a taxable person must be treated as GST inclusive “As the Legal Owners whose vehicles or other goods are being auctioned at the Auction House are invariably Registered Person under the Goods and Services Tax Act 2014 of Malaysia, the Purchase Price under this contract will be treated as inclusive of GST.
ii. the Auction House provide express notice to all intending bidders that the motor vehicles or other goods auctioned at the Auction House are subject to payment of GST.

2.0 Condition of the Vehicles
2.1 Bidders are reminded that the Vehicles auctioned are used second-hand Vehicles which may contain various defects and in less than satisfactory condition as a result of the Vehicles’ use by the previous owners. The Purchaser shall be deemed to have full knowledge of the condition, status, state of defects, repairs and rectification required for the Vehicles.
2.2 Before the auction, Bidders are reminded to:
(i) inspect the Vehicles at their own cost and expense at the time and venue designated by the Auctioneer / the Seller;
(ii) make verification as to whether any summons were issued by the Authorities, in respect of the Vehicles;
(iii) make independent verification with the Authorities as to the accuracy of the Vehicles’ details, identification marks, make, type, model, version, year of manufacture and other relevant particulars;
so as to satisfy themselves completely of the exact condition, state of defects, repairs required and status of the Vehicles.
2.3 The Vehicles are sold at this auction strictly on an ‘as is where is’ basis, without any warranty whatsoever. All implied terms and warranties, warranties on merchantability, roadworthiness, registrability, free from encumbrances and fitness for a particular purpose of the Vehicles, are hereby excluded from this terms and conditions. All implied warranties under the Sale of Goods Act are specifically and expressly negated and excluded in this auction
2.4 The Auctioneer and the Seller does not warrant that the Vehicles or any of their parts are free from defects.
2.5 Statements made by the Auctioneer or as provided in the ‘remarks column’ in the Proclamation of Sale by the Seller are merely best data and facts about the Vehicles that are available to the Auctioneer / Seller and shall not be relied upon by the Bidder as definitive statements. The Vehicles may contain further inherent defects not specified in the ‘remarks column’.
2.6 The Bidder acknowledges that in view of the nature of this auction, the Auctioneer and the Seller had not verified the condition, status, roadworthiness, state of defects, repairs and rectification required for the Vehicles.
2.7 The Auctioneer and the Seller shall not be responsible or liable for repair/rectification of any existing defects in the Vehicles.
2.8 Vehicles identified as ‘engine number tampered’, ‘chassis number tampered’ and ‘cut and joined’ are sold as scarp, without warranties as to the Vehicle’s title and transfer of ownership registrability.
2.9 Any error, misstatement or wrong description of the Vehicle in any documents related to this auction shall NOT annul or invalidate the auction nor the same shall grant any rights to the Bidder to make any claim in respect thereof.

3.0 Bidding Process
3.1 All Bidders or person(s) bidding on behalf of others must be above 18 years old and must be citizens or permanent residents Malaysia.
3.2 All Bidders are required to deposit with the Auctioneer the sums of RM 1,000.00 (‘Deposit’) and RM 570.00 (‘Auctioneer’s Premium) (inclusive GST 0%) by cash or bankers cheque made payable to the Auctioneer and are required to sign a registration form prior to the auction. All Bidders shall also produce their identity card to the Auctioneer prior to the commencement of the auction, failing which they will not be allowed to bid.
3.3 Any Bidder who intends to bid on behalf of another person / body corporate / business entity (‘Principal’) is required to provide the Auctioneer an authority letter from the Principal prior to the commencement of the auction. Such letter shall contain the identity details of the Principal and shall grant authority to the said Bidder to execute all documents related to this auction.
3.4 The Auctioneer has the absolute right to regulate the bidding process and shall have the absolute right to refuse any bid which does not complies with this terms and conditions or any auction rule and regulations.
3.5 If any dispute arises as to the highest bid, the Auctioneer shall have the absolute right to determine the dispute and at the sole discretion of the Auctioneer, the Vehicle may be re-auctioned.
3.6 No bid price shall be lower than the reserve price set by the Seller or the previously made bid price. Bidders are not allowed to retract their bid. In the event a bid is retracted by the Bidder prior to the fall of the hammer, the Deposit and the Auctioneer’s Premium shall be forfeited absolutely and the Vehicle shall be re-auctioned at the absolute discretion of the Auctioneer.
3.7 The Bidder with the highest bid, as announced by the Auctioneer after the fall of the hammer, shall be deemed to be the purchaser (‘Purchaser’) of the Vehicle auctioned and the highest bid shall be purchase price (‘Purchase Price’) of the Vehicle. Only the Deposit shall be utilised as the part-payment towards the Purchase Price.
3.8 Immediately after the fall of the hammer, the Purchaser shall execute the Memorandum of Sale incorporating this Terms and Conditions. The Legal Owner, the Auction House, the Licensed Auctioneer or their respective employees, servants or agents shall not be liable or responsible for any loss, defect, damage or destruction to the vehicle, whether caused by negligence, wear and tear or otherwise, and the vehicle shall henceforth be at the SOLE risk of the Purchaser as regards loss or damage by fire or other accident or otherwise. Ownership of the vehicle shall not pass to the Purchaser until full payment in respect thereof has been made.
3.9 The Purchaser, after 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 Licensed Auctioneer or their respective employees, servants. The Purchaser shall be liable for the payment of all summonses, fines and penalties payable on the vehicle issued before or after the vehicle has been auctioned.

4.0 Balance Purchase Price
4.1 The Purchase Price less Deposit (‘Balance Purchase Price’) shall be paid in full by the Purchaser within Payment Period directly to the Seller. Kindly refer to the Appendix 1 for the details of the (‘Payment Period’). The Payment Period may be extended for a period to be determined by the Seller at its absolute discretion, provided a written request is made by the Purchaser before the expiry of Payment Period. If any extension to the Payment Period is granted by the Seller, the Purchaser shall pay further to the Seller storage charges and interest at a rate to be determined by the Seller.
4.2 If the Balance Purchase Price is not paid within the Payment Period or with storage charges and interest during the extended Payment Period (as the case may be), the Deposit and the Auctioneer’s Premium shall be forfeited absolutely by the Seller and the Vehicle may be re-auctioned.

5.0 Transfer of Risk & Liability
5.1 Upon the execution of Memorandum of Sale, the Vehicle shall be stored at the Auctioneer’s storeyard at the sole risk of the Purchaser. However, ownership of the Vehicle shall only pass to the Purchaser upon full payment of the Purchase Price.
5.2 The Auctioneer shall be entitled to charge the Purchaser for storage charges if the Vehicle is not collected from the Auctioneer’ storage facility within the Payment Period.
5.3 The Purchaser shall be responsible for payment of all and any summonses, fines and penalties payable to the any of the Authorities by the previous owner of the Vehicle.
5.4 The Purchaser shall indemnify the Auctioneer, the Seller and the previous owner / hirer from all claims, damages, losses and proceedings for all summonses, fines and penalties payable to the Authorities on the Vehicle after taking delivery of the Vehicle, notwithstanding the Vehicle’s transfer of ownership to the Purchaser is not effected.

6.0 Vehicle Registration / Transfer of Ownership
6.1 Upon full payment of the Balance Purchase Price, storage charges and interest (if any), the Purchaser at its own costs and expense shall take delivery of the Vehicle purchased, from the Seller. Puspakom inspection VR1 on the Vehicle shall be conducted at Purchaser’s costs at the storeyard before the Purchaser takes delivery of the Vehicle, failing which any refund claims will not be entertained. Upon taking delivery of the vehicle, Purchasers shall conduct the Puspakom B7 inspection at its own cost.
6.2 Thereafter, the Seller shall execute at the Purchaser’s cost and expense the transfer form (Form K3) in favour of the Purchaser or the Principal only and provide the registration card of the Vehicle (if available). In the event the Vehicle’s registration card is not available with the Seller, the Purchaser at his own costs shall apply for the same with the Authorities.
6.3 The Purchaser shall transfer and register the Vehicle within 14 days from the date of receipt of transfer documents from the Seller, failing which the Purchaser shall not be able to claim for refund of the Purchase Price for the circumstances specified in Clause 7.1 below.
6.4 The Purchaser shall not undertake any repairs or improvements to the Vehicle purchased before registering the transfer of ownership of the Vehicle with the Authorities, failing which, such costs shall not be claimable against the Auctioneers and/or the Seller, if there is a refund of Purchase Price is applicable pursuant to Clause 7.1 below.
6.5 Ownership transfer of auction vehicles must be way of Double Transfer at Purchaser own costs. This has always been the directive of the Road Transport Department. As such, Seller shall not be releasing anymore copy of hirer’s IC and pre-signed JPJK3 by hirers to Purchaser.

7.0 Refund
7.1 The Purchaser can claim for refund of the Purchase Price from the Seller, subject to and only in the following circumstances:
(i) if the Vehicle’s ownership transfer cannot be registered due to the Vehicle being under criminal investigation by the Authorities; and
(ii) if the Vehicle’s ownership transfer cannot be registered, when the Vehicle was originally not identified as ‘engine number tampered’, ‘chassis number tampered’ and ‘cut and joined’ in the remarks column in the Proclamation of Sale.
PROVIDED FURTHER:
(a) the claim for refund shall be made in writing within 21days from the date of receipt of transfer documents from Seller;
(b) the non-registrability of the Vehicle’s ownership transfer is not due to any reasons attributable to the Purchaser;
(c) original documentary evidence from the Authorities confirming the non-registrability of the Vehicle’s ownership transfer for reasons stated in (i) and (ii) above shall be submitted to the Seller;
(d) the refund by the Seller shall be limited to only the Deposit and Auctioneer’s Premium paid by the Purchaser and the same shall be refunded free of interest. The Auctioneer and the Seller shall not liable of any consequential damages / losses of whatsoever nature; and
(e) the Vehicle shall be returned, in the same conditions when delivery was taken by the Purchaser, to the Auctioneer’s storeyard within 7 days upon written notice on the same is sent by the Seller to the Purchaser, before the refund payment is effected by the Seller.

8.0 No Refund
8.1 The Purchaser shall NOT be entitled to claim for any refund in the following circumstances:
(i) if the Vehicle cannot be registered with the Authorities due to traffic summons, fines or penalties unpaid / unresolved by
the previous owner;
(ii) if the Authorities gave a conditional approval for the Vehicle’s transfer of ownership registration, under which transfer of ownership registration can be made if any defects / parts of the Vehicle were to be rectified / replaced [ For the avoidance of doubt, costs and expenses for such rectification / replacement shall be borne by the Purchaser ];
(iii) if the Purchaser makes a claim for refund (for whatsoever reasons), after the lapse of 21 days from the date of receipt of
(iv) Authorities transfer documents from the Seller; and
(iv) any act / omission by the Purchaser or his agents, servants or employees which had resulted in defects, loss, damages or seizure / forfeiture of the Vehicle by the after the delivery of the Vehicle to the Purchaser.

1.0 General
1.1 The auction is conducted by KSL WAREHOUSE SDN. BHD. (318544-X) (‘Auctioneer’) as agents for the legal owner (‘Seller’) of the motorcycle listed in the Proclamation of Sale, subject to the terms and conditions herein.
1.2 By participating in this auction, the persons intending to bid in this auction (‘Bidders’) confirm that:
(i)the valuation / pricing of the motorcycles are made by the Bidders based on their own independent judgment;
(ii)they participate in this auction on their own free will;
(iii)they have understood, agree and have obtained own independent legal and expert advice on this terms and conditions;
(iv)they authorise the disclosure of their details to relevant authorities, including but not limited to, the Road Transport Department, the Royal Malaysian Police Department and Puspakom Sdn Bhd (collectively ‘Authorities’) for any purpose as may be required by the Authorities.
1.3 Time, wherever mentioned herein, shall be deemed to be of essence in this terms and conditions.
1.4 The Legal Owner, the Auction House, the Licensed Auctioneer or their respective employees, servants and agents shall under no circumstances be liable to the bidder or Purchaser for any loss or expense, howsoever suffered or incurred, arising out of or in connection with or in respect of the auction or sale. The sale of the vehicle shall not, in any way, render the Legal Owner, the Auction House, the Licensed Auctioneer or their respective employees, servants or agents, liable for any loss, defect, damage or destruction before, during of after the sale by either by theft, fire or any cause whatsoever.
1.5 The Auctioneer has the absolute discretion to refuse admission of / remove any person from the auction premises.
1.6 The headings herein contained are inserted merely for convenience of reference and shall be ignored in the interpretation of any of the clauses and provisions herein contained.
1.7 Any term relating to auctions or automobile not specifically defined herein shall be construed in accordance with the general business practice and trade of auctions or automobile industry.
1.8 Words importing the singular number includes the plural number and vice-versa. Words importing the masculine gender include the feminine and neuter genders. Words applicable to natural persons include corporation and business entities.
1.9 Pursuant to the Goods and Services Tax (Rate of Tax Amendment) Order 2018, the GST rate of tax has revised from Six Percent (6%) to Zero Percent (0%) with effect from 1st June 2018. The successful bidders are to take note that the Reserve Price and the final Purchase Price are inclusive of GST at zero rated, if the hirer is a GST Registered person.

2.0 Condition of the Motorcycles
2.1 Bidders are reminded that the motorcycles auctioned are used second-hand motorcycles which may contain various defects and in less than satisfactory condition as a result of the motorcycles’ use by the previous owners. The Purchaser shall be deemed to have full knowledge of the condition, status, state of defects, repairs and rectification required for the motorcycles.
2.2 Before the auction, Bidders are reminded to:
(i)inspect the Motorcycles at their own cost and expense at the time and venue designated by the Auctioneer / the Seller;
(ii)make verification as to whether any summons were issued by the Authorities, in respect of the Motorcycles;
(iii)make independent verification with the Authorities as to the accuracy of the Motorcycles’ details, identification marks, make, type, model, version, year of manufacture and other relevant particulars;
so as to satisfy themselves completely of the exact condition, state of defects, repairs required and status of the Motorcycles.
2.3 The Motorcycles are sold at this auction strictly on an ‘as is where is’ basis, without any warranty whatsoever. All implied terms and warranties, warranties on merchantability, roadworthiness, registrability, free from encumbrances and fitness for a particular purpose of the Motorcycles, are hereby excluded from this terms and conditions. All implied warranties under the Sale of Goods Act are specifically and expressly negated and excluded in this auction
2.4 The Auctioneer and the Seller does not warrant that the Motorcycles or any of their parts are free from defects.
2.5 Statements made by the Auctioneer or as provided in the ‘remarks column’ in the Proclamation of Sale by the Seller are merely best data and facts about the Motorcycles that are available to the Auctioneer / Seller and shall not be relied upon by the Bidder as definitive statements. The Motorcycles may contain further inherent defects not specified in the ‘remarks column’.
2.6 The Bidder acknowledges that in view of the nature of this auction, the Auctioneer and the Seller had not verified the condition, status, roadworthiness, state of defects, repairs and rectification required for the Motorcycles.
2.7 The Auctioneer and the Seller shall not be responsible or liable for repair/rectification of any existing defects in the Motorcycles.
2.8 Motorcycles identified as ‘engine number tampered’, ‘chassis number tampered’ and ‘cut and joined’ are sold as scarp, without warranties as to the Motorcycle’s title and transfer of ownership registrability.
2.9 Any error, misstatement or wrong description of the Motorcycle in any documents related to this auction shall NOT annul or invalidate the auction nor the same shall grant any rights to the Bidder to make any claim in respect thereof.

3.0 Bidding Process
3.1 All Bidders or person(s) bidding on behalf of others must be above 21 years old and must be citizens or permanent residents Malaysia.
3.2 All Bidders are required to deposit with the Auctioneer the sums of RM 500.00 (‘Deposit’) and RM 240.00 (‘Auctioneer’s Premium) cash payable to the Auctioneer and are required to sign a registration form prior to the auction. All Bidders shall also produce their identity card to the Auctioneer prior to the commencement of the auction, failing which they will not be allowed to bid.
3.3 Any Bidder who intends to bid on behalf of another person / body corporate / business entity (‘Principal’) is required to provide the Auctioneer an authority letter from the Principal prior to the commencement of the auction. Such letter shall contain the identity details of the Principal and shall grant authority to the said Bidder to execute all documents related to this auction.
3.4 The Auctioneer has the absolute right to regulate the bidding process and shall have the absolute right to refuse any bid which does not complies with this terms and conditions or any auction rule and regulations.
3.5 If any dispute arises as to the highest bid, the Auctioneer shall have the absolute right to determine the dispute and at the sole discretion of the Auctioneer, the Motorcycles may be re-auctioned.
3.6 No bid price shall be lower than the reserve price set by the Seller or the previously made bid price. Bidders are not allowed to retract their bid. In the event a bid is retracted by the Bidder prior to the fall of the hammer, the Deposit and the Auctioneer’s Premium shall be forfeited absolutely and the Motorcycle shall be re-auctioned at the absolute discretion of the Auctioneer.
3.7 The Bidder with the highest bid, as announced by the Auctioneer after the fall of the hammer, shall be deemed to be the purchaser (‘Purchaser’) of the Motorcycle auctioned and the highest bid shall be purchase price (‘Purchase Price’) of the Motorcycle. Only the Deposit shall be utilised as the part-payment towards the Purchase Price.
3.8 Immediately after the fall of the hammer, the Purchaser shall execute the Memorandum of Sale incorporating this Terms and Conditions. The Legal Owner, the Auction House, the Licensed Auctioneer or their respective employees, servants or agents shall not be liable or responsible for any loss, defect, damage or destruction to the vehicle, whether caused by negligence, wear and tear or otherwise, and the vehicle shall henceforth be at the SOLE risk of the Purchaser as regards loss or damage by fire or other accident or otherwise. Ownership of the vehicle shall not pass to the Purchaser until full payment in respect thereof has been made.
3.9 The Purchaser, after 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 Licensed Auctioneer or their respective employees, servants. The Purchaser shall be liable for the payment of all summonses, fines and penalties payable on the vehicle issued before or after the vehicle has been auctioned.

4.0 Balance Purchase Price
4.1 The Purchase Price less Deposit (‘Balance Purchase Price’) shall be paid in full by the Purchaser within 5 working days from the date of auction (‘Payment Period’) directly to the Seller. The Payment Period may be extended for a period to be determined by the Seller at its absolute discretion, provided a written request is made by the Purchaser before the expiry of Payment Period. If any extension to the Payment Period is granted by the Seller, the Purchaser shall pay further to the Seller storage charges and interest at a rate to be determined by the Seller.
4.2 If the Balance Purchase Price is not paid within the Payment Period or with storage charges and interest during the extended Payment Period (as the case may be), the Deposit and the Auctioneer’s Premium shall be forfeited absolutely by the Seller and the Motorcycle may be re-auctioned.

5.0 Transfer of Risk & Liability
5.1 Upon the execution of Memorandum of Sale, the Motorcycle shall be stored at the Auctioneer’s storeyard at the sole risk of the Purchaser. However, ownership of the Motorcycle shall only pass to the Purchaser upon full payment of the Purchase Price.
5.2 The Auctioneer shall be entitled to charge the Purchaser for storage charges of RM 10.00 per day if the Motorcycle is not collected from the Auctioneer’ storage facility within 14 Days from the date of auction.
5.3 The Purchaser shall be responsible for payment of all and any summonses, fines and penalties payable to the any of the Authorities by the previous owner of the Motorcycle.
5.4 The Purchaser shall indemnify the Auctioneer, the Seller and the previous owner / hirer from all claims, damages, losses and proceedings for all summonses, fines and penalties payable to the Authorities on the Motorcycle after taking delivery of the Motorcycle, notwithstanding the Motorcycle’s transfer of ownership to the Purchaser is not effected.

6.0 Motorcycle Registration / Transfer of Ownership
6.1 Upon full payment of the Balance Purchase Price, storage charges and interest (if any), the Purchaser at its own costs and expense shall take delivery of the Motorcycle purchased, from the Seller. Puspakom inspection VR1 on the Motorcycle shall be conducted at Purchaser’s costs at the storeyard before the Purchaser takes delivery of the Motorcycle, failing which any refund claims will not be entertained. Upon taking delivery of the motorcycle, Purchasers shall conduct the Puspakom B7 inspection at its own cost.
6.2 Thereafter, the Seller shall execute at the Purchaser’s cost and expense the transfer form (Form K3) in favour of the Purchaser or the Principal only and provide the registration card of the Motorcycle (if available). In the event the Motorcycle’s registration card is not available with the Seller, the Purchaser at his own costs shall apply for the same with the Authorities.
6.3 The Purchaser shall transfer and register the Motorcycle within 14 days from the date of receipt of transfer documents from the Seller, failing which the Purchaser shall not be able to claim for refund of the Purchase Price for the circumstances specified in Clause 7.1 below.
6.4 The Purchaser shall not undertake any repairs or improvements to the Motorcycle purchased before registering the transfer of ownership of the Motorcycle with the Authorities, failing which, such costs shall not be claimable against the Auctioneers and/or the Seller, if there is a refund of Purchase Price is applicable pursuant to Clause 7.1 below.
6.5 Ownership transfer of auction Motorcycles must be way of Double Transfer at Purchaser own costs. This has always been the directive of the Road Transport Department. As such, Seller shall not be releasing anymore copy of hirer’s IC and pre-signed JPJK3 by hirers to Purchaser.

7.0 No Refund
7.1 The Purchaser shall NOT be entitled to claim for any refund in the following circumstances:
(i)if the Motorcycle cannot be registered with the Authorities due to traffic summons, fines or penalties unpaid / unresolved by the previous owner;
(ii)if the Authorities gave a conditional approval for the Motorcycle’s transfer of ownership registration, under which transfer of ownership registration can be made if any defects / parts of the Motorcycle were to be rectified / replaced [ For the avoidance of doubt, costs and expenses for such rectification / replacement shall be borne by the Purchaser ];
(iii)if the Purchaser makes a claim for refund (for whatsoever reasons), after the lapse of 21 days from the date of receipt of transfer documents from the Seller; and
(iv)any act / omission by the Purchaser or his agents, servants or employees which had resulted in defects, loss, damages or seizure / forfeiture of the Motorcycle by the Authorities after the delivery of the Motorcycle to the Purchaser.

1. The sale is made by KSL WAREHOUSE SDN. BHD. (318544-X) (the “Auction House”) as agents for the intended seller(s) or legal owner(s) (the “Legal Owner”) of the vehicles listed in the Proclamation of Sale, subject to the regulations implied or upon or affecting the subject vehicles.
2. All intending bidders are required to deposit with the Auction House a sum of Ringgit Malaysia One Thousand Five Hundred Seventy (RM1,570) (the “Deposit”) (included Buyer Premium GST 0%) by cash to KSL WAREHOUSE SDN. BHD. and is required to sign a registration form prior to the auction. All intending bidders are also required to verify their identity by producing their identity card to a representative of the Auction House prior to the commencement of the auction, failing which they will not be entitled to bid. Any intending bidder who intends to bid on behalf of another person, body corporate or firm is required to deposit with the Auction House an authorisation letter to state that he/she is acting on behalf of another person, body corporate or firm prior to the auction.
3. Subject to the reserve price (the “Reserve Price”) fixed by the Legal Owner, the highest bidder, being so allowed and announced by the Licensed Auctioneer, shall be the actual purchaser (the “Purchaser”).
4. The licensed auctioneer (the “Licensed Auctioneer”) has the absolute right to regulate the auction process and shall have the sole right to refuse any bid without giving any reason for such refusal. If any dispute shall arise as to the highest bid, the Licensed Auctioneer shall have the right to determine the dispute and the vehicle shall, at the sole option of the Licensed Auctioneer, be put up again for sale and re-sold. The Licensed Auctioneer may conduct the auction in any manner as he may decide, determine and/or change the bid increments, withdraw any vehicle, vary the order in which vehicles are offered for sale, re-auction any unsold vehicle at the same auction or adjourn the auction sale to another date and, in the event of dispute, decide to re-commence the bidding of any vehicle. The Licensed Auctioneer’s decision on any dispute shall be final and conclusive.
5. No bid shall be of a lower amount than the last/previous bid or a sum to be fixed by the Auction House at the time of sale. Bidders are not allowed to retract their bids. Should a bid be retracted by the bidder prior to the fall of the hammer, the Deposit paid amounting to Ringgit Malaysia One Thousand Five Hundred Seventy (RM1,570) (included Buyer Premium GST 0%) shall be forfeited to the Auction House (Ringgit Malaysia One Thousand (RM1,000) shall then be credited to the account of the Legal Owner by the Auction House) and the vehicle shall, at the option of the Auction House, be put up for sale again at the same auction or another date.
6. The price achieved at the fall of the hammer shall be the final purchase price (the “Purchase Price”).
7. Immediately after the fall of the hammer, the Deposit of Ringgit Malaysia One Thousand Five Hundred Seventy (RM1,570) (included Buyer Premium GST 6%) paid earlier by the Purchaser shall be utilised in the following manner:
(a) Ringgit Malaysia One Thousand (RM1,000) as part payment to the Legal Owner of the Purchase Price accepted by the Licensed Auctioneer;
(b) Ringgit Malaysia Six Hundred (RM570) (included GST 0%) as Purchaser’s premium paid to the Auction House.
8. Sale of any vehicle in the auction shall result in a sale and purchase contract (“Sale and Purchase Contract”) for the vehicle being entered into between the Legal Owner and the Purchaser. The Purchaser hereby acknowledges that he/she fully understands and accepts these Terms and Conditions of Sale and shall sign the Sale and Purchase Contract overleaf. In the event the Purchaser fails, neglects and/or refuses to sign the Sale and Purchase Contract after the fall of the hammer, the Deposit of Ringgit Malaysia One Thousand Five Hundred Seventy (RM1,570) (included Buyer Premium GST 0%) paid earlier by the Purchaser shall be forfeited by the Auction House (of which Ringgit Malaysia One Thousand (RM1,000) shall be credited to the account of the Legal Owner) and the vehicle shall forthwith be put up for sale again. The deficiency in price (if any), which may result from a resale, or the Purchase Price if there is no resale, as the case may be, shall be recoverable from the defaulting Purchaser.
9. The balance of the Purchase Price, together with Goods and Services Tax (if applicable), shall be paid in full by the Purchaser within SEVEN (7) days from the date of the auction sale to the Legal Owner. The period of SEVEN (7) days may be extended by the Legal Owner at its absolute discretion upon written request by the Purchaser before the expiry of the payment time period provided if any extension of time 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 of the Purchase Price, calculated on a daily basis until full payment of such amount on or before the expiry of the extended time period of payment.
10. In addition, the Auction House shall have the right to charge the Purchaser for storage charges at its published rates if the vehicle is not collected from the Auction House’s storage facility within SEVEN (7) days of the date of the auction.
11. In default of such payment of the balance of the Purchase Price or any interest payable for any extension of time which may be granted for the payment of the balance of the Purchase Price within the time and in the manner as stipulated in Clause 9 above, the deposit and premium paid amounting to Ringgit Malaysia One Thousand Five Hundred Seventy (RM1,570) (included Buyer Premium GST 0%) shall be forfeited by the Auction House (of which Ringgit Malaysia One Thousand (RM1,000) shall be credited to the account of the Legal Owner) and the vehicle may be put up for resale 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 as the case may be, shall be recoverable from the defaulting Purchaser.
12. Upon full payment of the balance of the Purchase Price and interest (if any) together with GST (if applicable) payable in respect of the extension of time granted thereunder (if any), the Legal Owner shall execute or cause to be executed at the Purchaser’s costs and expenses a transfer form (Form K3) in favour of the Purchaser. Thereafter and upon the Purchaser’s payment of all such costs and expenses of the transfer, the Legal Owner shall deliver to the Purchaser the duly executed transfer and the original registration card, if available.
13. The Purchaser shall procure the registration of the transfer of ownership to the Purchaser’s name with Jabatan Pengangkutan Jalan (“JPJ”) within 30 days from the date of receipt of the documents for registration from the Legal Owner.
14. Any request for refund of monies paid by the Purchaser shall only be allowed under the following circumstances:
(a) The Purchaser furnishes to the Legal Owner with documentary evidence from JPJ confirming the non-registration and non-transferability of ownership for/of the said vehicle being duly presented for registration together with satisfactory evidence that all remedial action has been exhausted within thirty (30) days after receipt of the documents for registration from the Legal Owner, AND further provided that the request for refund must be made with the Legal Owner not later than thirty (30) days after receipt of the documents for registration from the Legal Owner and shall be limited to and not exceeding the amount paid by the Purchaser and shall be free of interest. Thereafter, the Purchaser shall have no other claims against the Legal Owner and/or the Auction House; and
(b) The Transfer cannot be effected due to reasons attributable to the Legal Owner only.
15. There shall be NO refund for claims based on the state and condition of the vehicle, or if the Purchaser fails to make a claim for reasons stated above within thirty (30) days after receipt of the documents for registration from the Legal Owner, or non-registration and non-transferability of ownership is due to reasons not attributable to the Legal Owner or due to non-payment of summonses, fines or penalties owed to the relevant authorities.
16. In the case of defective vehicles, the Purchaser expressly acknowledges that:
(a) The vehicle is sold without any warranty as to title, whether or not the Legal Owner has title to the vehicle, and that there is no representation as to the roadworthiness of the vehicle or fitness for purpose, or that the vehicle is free from encumbrance;
(b) The vehicle is sold without any warranty as to its road worthiness, availability of the vehicle’s existing or new registration card, or registrability of the vehicle with the relevant authorities, including but not limited to, non-registration due to unauthorised joining, welding, modification, change, tampering of the vehicle or any part therein, etc., rendering the vehicle not roadworthy;
(c) There shall be no refund in the event of non-registration, seizure and/or forfeiture of the vehicle by the relevant authorities for any reason whatsoever; and
(d) All implied warranties under the Sale of Goods Act are specifically and expressly negated and excluded under the sale.
17. The Purchaser shall admit the identity and status of the vehicle purchased by him as described and comprised in the muniments or other documents offered by the Auction House.
18. The vehicle is believed and shall be taken to be correctly described, and is sold subject to all express conditions, restrictions in interest, easements, tenancies, charges, covenants, assignments, liabilities, encumbrances and right subsisting thereon without the obligation to define the same, and the Purchaser shall be deemed to have full knowledge of the state and condition of the vehicle. No error, misstatement, misdescription or misrepresentation shall annul or invalidate the sale nor shall any compensation be allowed in respect thereof.
19. After the fall of the hammer, the Legal Owner, the Auction House, the Licensed Auctioneer or their respective employees, servants or agents shall not be liable or responsible for any loss, defect, damage or destruction to the vehicle, whether caused by negligence, wear and tear or otherwise, and the vehicle shall henceforth be at the SOLE risk of the Purchaser as regards loss or damage by fire or other accident or otherwise. Ownership of the vehicle shall not pass to the Purchaser until full payment in respect thereof has been made.
20. The Legal Owner, the Auction House, the Licensed Auctioneer or their respective employees, servants and agents shall under no circumstances be liable to the bidder or Purchaser for any loss or expense, howsoever suffered or incurred, arising out of or in connection with or in respect of the auction or sale. The sale of the vehicle shall not, in any way, render the Legal Owner, the Auction House, the Licensed Auctioneer or their respective employees, servants or agents, liable for any loss, defect, damage or destruction before, during of after the sale by either by theft, fire or any cause whatsoever.
21. The Purchaser, after 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 Licensed Auctioneer or their respective employees, servants. The Purchaser shall be liable for the payment of all summonses, fines and penalties payable on the vehicle issued before or after the vehicle has been auctioned.
22. Time shall be deemed to be of the essence in this Sale and Purchase Contract.
23. The vehicle is sold strictly as seen on an “AS IS WHERE IS” basis.
24. The Purchaser is deemed to have made independent checks and verification as regards the particulars of the vehicle with all the relevant authorities to his satisfaction, and the Legal Owner, the Auction House and the Licensed Auctioneer make no representation, express or implied, as regards the accuracy of the particulars of the vehicle. The Legal Owner, the Auction House and the Licensed Auctioneer hereby disclaim any all liabilities for any representation made and excluded/omitted.
25. The sale of vehicle is subject to section 18(4)(a) of the Hire Purchase Act 1967 (Act 212) (if applicable) and the hirer of the vehicle (or his representative) has reserved his right to bid at the auction.
26. The Auction House shall be at liberty to postpone, call off or adjourn the auction at any time, or to vary, amend, change, alter or make additions to or deletions from the Terms and Conditions of Sale, without having to provide any reason or grounds whatsoever. The Auction House also has the sole discretion to refuse the admission of, or to remove any person from, its premises at any time during the auction.
27. The Auction House is a Registered Person under the Goods and Services Tax Act 2014 of Malaysia, and all fees, premiums, storage costs and other charges imposed by the Auction House are taxable supplies chargeable to GST.
28. In the event that the sale of the vehicle listed in the Proclamation of Sale is subject to GST, the Purchaser shall pay the Purchase Price which is inclusive of GST.
29. The Purchaser hereby agrees to and shall indemnify the Legal Owner and keep the Legal Owner indemnified against all tax liabilities including without limitation to the liability of the Purchaser to pay GST and including all actions, proceedings, demands, claims, cost and penalty whatsoever made against the Legal Owner as a result of and/or incidental to the Purchaser’s non-compliance with any of the provisions of the Goods and Services Tax Act 2014 and/or the purchaser’s obligations herein.