Terms and Conditions for E-Auction (Vehicle)

Last updated: 18 August 2020

Acknowlegdement

1. These Terms and Conditions govern your access and use of the information and services made available by us at www.toomanagement.com and www.bidonline.my. (hereinafter referred to as “TMH website”). The TMH website contains Terms and Conditions for E-Auction, legal owner Term & Condition, Proclamation of Sale, privacy policy or other Terms and Conditions as displayed on the TMH website from time to time. (hereinafter referred to as “TMH Term & Condition”).

2. By accessing and using the TMH website, you agree to be bound by the TMH Term & Condition, including any updates and amendments from time to time. If you do not agree to the Terms & Conditions, do not browse, register the services available in TMH website.

3. This is a legally binding contract between you and TMH. The Terms and Conditions apply to users who are browsing, using the TMH website, registering to the E-Bidding Platform or participating in the E-Auction. It shall be your duty to read and understand the TMH Term & Condition. You are deemed to have accepted all associated risks when using the TMH website.

4. Upon browsing, using the TMH website, and by clicking on the designated button on the E-Bidding Platform you are deemed to have read, understood and agreed to be bound by the Terms and Conditions. Your continued use to the TMH website and the E-Bidding Platform will constitute your unequivocal acceptance to the TMH Terms & Conditions.

5. In this part of the Terms and Conditions, the Terms ‘you’, ‘your’ and ‘yours’ are references to anyone accessing, browsing or using the TMH website, including the E-bidder.

6. TMH shall have the right to modify, update and amend the Terms and Conditions without prior notice. The amended Terms and Conditions shall become effective and binding on you upon your use of the TMH website. It shall be your responsibility to monitor for such modification, updates and amendments. Your use and continued use of the TMH website following the modification, updates and amendments will constitute your acceptance to the updates and amendments.

Definition

7. In the terms and conditions governing E-Auction:

   1. Auctioneer shall mean the person conducting the auction.

   2. Auction House shall mean the agent of the Legal Owner who is selling the Vehicles by auction.

   3. Bid Closure shall mean the fall of the hammer of the auction where the successful bidder/Purchaser of the Vehicle is declared.

   4. Buyer’s Premium shall mean the charges paid to the Auction House.

   5. E-Bidder shall mean the users of the E-Bidding Platform who has made payment to the Auction House to participate in the auction.

   6. E-Bidder Account shall mean the account registered through TMH Website to participate in the auction.

   7. E-Bidding Platform shall mean the online bidding system for users to register, participate and bid for the Vehicles made available through TMH Website.

   8. Deposit Sum shall mean

      1. the general deposit, which is a fixed minimum sum as determined by the Legal Owner; or

      2. the special deposit sum, which is:

         1. a fixed sum higher than the general deposit as determined by the Legal Owner; or

         2. a sum calculated based on a percentage of the Selling Price, where payment method is made as follows:

            1. before auction, the deposit sum is based on a percentage on the Reserve Price, and

            2. after auction upon determination of Selling Price, the sum based on the any difference between the percentage of the Reserve Price and Selling Price.

   9. Shortfall Deposit shall mean the difference between the percentage of the Reserve Price and the Selling Price.

   10. Legal Owner shall mean the bank, financial institutions, credit leasing companies, companies or notified owners of the Vehicle.

   11. Legal Owner Term & Condition shall mean the Legal Owner’s terms and conditions, which are made available in TMH website regardless of format or form;

   12. Memorandum of Contract shall mean the particulars of the Vehicle successfully sold to the Purchaser and the required obligations on the Purchaser to complete the transaction.

   13. Purchaser shall mean the successful bidder of the auction.

   14. Reserve Price shall mean the minimum amount of the Vehicles which the Legal Owner is offering to sell, as determined by the Legal Owner.

   15. Selling Price shall mean the last bid which is the highest bid accepted by the Auctioneer or the bid which is accepted by the Auctioneer, upon which the Vehicle is sold to the Purchaser.

   16. Settlement Period shall mean timeframe for the Purchaser to pay the balance purchase price.

   17. TMH shall mean Too Management Holdings Sdn Bhd (472575-W).

   18. TMH Website shall mean www.toomanagement.com and www.bidonline.my

   19. TMH Term and Condition shall mean TMH terms and conditions which includes the terms and conditions governing e-auction herein, Legal Owner Term & Condition, Proclamation of Sale, E-Confirmation Details, Privacy Policy and other terms and conditions available on TMH Website or notification or confirmation of sale issued by TMH to a Purchaser.

   20. TBC shall mean ‘to be confirmed’.

   21. Transfer shall mean the change of ownership of the Vehicle from the Legal Owner to the Purchaser.

   22. Vehicle shall collectively mean any vehicle, defective vehicle, motor vehicle, machine, equipment or any item put up for auction by the Auction House, Auctioneer or TMH and for all purposes anticipated herein, defective vehicle shall mean wreck or scrap vehicle.

Registration

Information

8. You must register your details and create an E-Bidder Account and make the required payment to participate in the auction. You agree to provide accurate and complete registration information for the E-Bidder Account. Once you register the E-Bidder Account, your details will be registered with us and will be used by us.

9. You must ensure that any information you provide to us at any time:

   1. is true, accurate and complete;

   2. is not false or misleading;

   3. does not infringe upon any other person’s rights ( for example, intellectual property or privacy rights);

   4. is not contrary to any applicable law;

   5. is not defamatory, threatening or harassing;

   6. is not obscene or ponographic; and (f) is free of any viruses or malware (including ‘Trojan Horses’, ‘worms’, ‘time bombs’, ‘cancelbots’ or any other computer software that may damage or interfere with TMH Website or TMH’s system)

Eligibility

10. You are not eligible to be an E-Bidder if:

    1. you are a person who have not reached the age of majority as defined under the Age of Majority Act 1971(Act 21), which is eighteen (18) years of age at the date of registration as E-Bidder;

    2. you have been adjudicated a bankrupt or are an undischarged bankrupt; or

    3. you are a company, the company is under any type of insolvency proceedings or administration.

    4. you are a foreigner/non-Malaysian and is prohibited to bid by the Legal Owner.

11. In the event the E-Bidder is not eligible:

    1. but the E-Bidder successfully bid for the Vehicle, the Deposit Sum and Buyer’s Premium shall be forfeited, the sale shall be cancelled, and the Vehicle shall forth with be put up for sale again.

    2. but the E-Bidder did not successfully bid for the Vehicle, the Deposit Sum paid will only be refunded after deduction of administrative charges by the Auction House.

    3. TMH or the Auction House shall suspend or terminate the E-Bidder Account at its discretion.

    4. the registration of an individual or company as E-Bidder herein shall not be construed as approval of eligibility on the intended E-Bidder to conclude the auction sale.

12. Where the E-Bidder is a foreigner/non-Malaysian, it shall be the E-Bidder’s duty to ensure that the E-Bidder is permitted by the Legal Owner, prevailing laws, regulation and guidelines to bid and purchase the Vehicles.

E-Bidder Responsibility

13. Each registration is for a single individual or entity only. When you register, you must choose a user name and password. You are responsible for the security of your user name and password. You must also provide us with details as required by TMH, such as your name, e-mail, phone number, address, national registration identification card and a valid banking account details to register for E-Bidder Account.

14. You will be responsible for any use of the E-Bidder Account. TMH does not permit

    1. anyone other than you to use the sections requiring registration by using your name or password; or

    2. access through a single name being made available to multiple users on a network or otherwise. You are responsible for preventing such unauthorized use. If you believe there has been unauthorized use, you must notify TMH immediately.

15. Without prejudice to the foregoing generality, TMH may reject an application for registration of the E-Bidder Account if TMH discovers all or any part of the information submitted by the individual or entity is false, incomplete, inaccurate or for such other reasons as TMH shall deem fit in TMH’s absolute discretion. Nevertheless, TMH shall not be obliged to provide any reason whatsoever for such rejection.

Communications

16. TMH will send any relevant notices and communications to you via email, including information regarding:

    1. the status of an auction in which you are participating;

    2. the status of an offer in which you are participating, such as ‘your offer has not been accepted’ emails or ‘you are the successful bidder’ emails;

    3. sales confirmation and information;

    4. a copy of your invoice;

    5. offers, newsletters and promotional events, unless you tell us you do not wish to receive these communications;

    6. request for customer feedback. TMH accepts no responsibility for any loss or damage incurred if you do not receive a notification or communication from us.

TMH’s Rights

17. TMH cannot guarantee the continuous operation of or access of TMH Website and the E-Bidding Platform. Any bid update or other notification functionality may not occur in real time. The functionality is subject to the delays beyond TMH’s control. You agree that you are using the TMH Website and E-Bidding Platform at your own risk and that they are being provided to you on an “AS IS” and “AS AVAILABLE” basis.

18. In the event of disruptions, delays, failures or technological difficulties occurring on TMH Website or E-Bidding Platform: (a) TMH reserves the right to use alternative methods to perform the auction or accept the bid. (b) All bids by the E-Bidder shall be kept valid for acceptance; (c) You agree that the use of alternative methods to accept the bid shall be valid and the Terms and Conditions shall be binding.

19. If any errors or delays arise as a result of or in connection with technological difficulties, including technological difficulties associated with the TMH’s servicer, data hosting centre, internet service provider or software, TMH may act reasonably: (a) by using alternative methods to accept the bid; (b) prior to or after the original time set for conclusion of the auction, extend an auction for a period of time TMH chooses, subject to TMH’s sole discretion; (c) prior to or after the original time set for conclusion of the auction, re-open an auction for a period of time TMH chooses, subject to TMH’s sole discretion; (d) prior to or after the conclusion of the auction, retract any successful bidder’s email which may be haven sent out to the E-Bidders; (e) prior to or during the auction, amend the Reserve Price allocated for a vehicle or amend the bid increment sum; or (f) cancel the auction for any vehicle.

20. TMH may permanently refuse any user the right to access or use the TMH Website or refuse any E-Bidder from participating in the auction if such user:

    1. do not make full payment for the vehicle and/or failure to take possession of the vehicle;

    2. gives information which is untrue, inaccurate or incomplete; or

    3. have engaged in any form of bid manipulation.

    4. creating false identity;

    5. engage in fraudulent conduct;

    6. misuse the E-Bidder Account and TMH Website in any way or

    7. at the absolute discretion of TMH.

21. You are also to note that unless you state accurately your name, membership no., NRIC No., residential address, office address (if any) and contact number in your emails, TMH may not reply to you subject to our reservation of not responding at all to any emails without having to assign any reason whatsoever.

22. In the event that reviews, comments, communications and other content are allowed, you may post reviews, photos, videos and other contents, submit suggestions, ideas, comments, questions or other information, so long as the content is not illegal, obscene, threatening, defamatory, political, invasive of privacy, infringing of intellectual property rights (including publicity rights), or otherwise injurious to third parties or objectionable, and does not consist of or contain software viruses, political campaigning, commercial solicitation, chain letters, mass mailings, or any form of “spam” or unsolicited commercial electronic messages. You may not use a false e-mail address or mislead as to origin or act or make statements under false pretences. TMH reserves the right (but not the obligation) to remove or edit such content but does not regularly review posted content.

Prohibitions

23. You must not misuse this TMH Website. You shall not commit or encourage a criminal offence, transmit or distribute a virus, including but not limited to Trojan Horse, worm, logic bomb or post any other materials on the TMH Website which is malicious, technologically harmful, in breach of confidence or in any way offensive or obscene; hack into any aspect of the features of TMH Website or other E-Bidder Account; corrupt data; cause annoyance to others; infringe upon the rights of any other person’s proprietary rights; send any unsolicited advertising or promotional material; or attempt to affect the performance or functionality of any computer facilities of or use throughout the TMH Website. A breach of these provisions would constitute an offence under Section 233 of the Communications and Multimedia Act 1998. In the event such breach occurs, TMH will not hesitate to report the breach to the relevant enforcement authorities and appropriate legal action will be taken.

No Liability and Warranty

24. TMH shall not be liable for any disruptions, delays, failures, errors, omission or loss of transmitted information due to disruptions or unsatisfactory internet access during the process of auction, during any access to TMH Website or for use of the E-Bidding Platform. Therefore, you are responsible to ensure that the internet access is in good condition during auction throughout the access and use of E-Bidding Platform.

25. TMH shall not be responsible for bids not received, processed or accepted which is reasonably due to technical difficulties. TMH is not responsible for any loss, liability or damage incurred as a result of a bid not received, processed or accepted which is reasonably due to technical difficulties. TMH accepts no liability for any loss or damage arising of or in connection with the performance or failure of the software on the TMH Website or E-Bidding Platform.

26. TMH does not warrant that the software on TMH Website or E-Bidding Platform will operate without interruptions or operate without errors. TMH are not responsible for bids attempted to be placed through the E-Bidding Platform which are not received, processed or accepted due to technological or software issues. Neither TMH nor the Legal Owners are liable for any lost of profits or any consequential damages arising out of or in connection with the auction.

27. TMH does not guarantee continuous, uninterrupted or secured access to the TMH Website. Operation of the TMH Website may be restricted by factors outside of TMH’s control or maintenance.

28. No data transmission over the internet can be guaranteed as totally secured. Whilst TMH will strive to protect such information, TMH does not warrant the security of any information which the Agent transmit to TMH. Accordingly, your use of the TMH Website shall be at your own risk and TMH has no obligations to indemnify you for any losses suffered by you for such access or use. Nevertheless, once TMH receives the Agent’s transmission, TMH will take reasonable steps to preserve the security of such information.

Disclaimer

29. All information displayed on the TMH Website is strictly intended for general information and knowledge only. The information displayed herein is provided on an “as is” and “as available” basis, is subject to changes and may no longer be accurate after the uploading date.

30. While every care has been taken by TMH to ensure the accuracy of the information contained on the TMH Website, it remains your sole responsibility and obligation to seek independent legal advice as to the reasons for your visiting the TMH Website.

31. Articles, reports and surveys reflect the views of the individuals that prepared them and, unless indicated expressly in the text, do not necessarily reflect or represent the position of TMH.

32. TMH makes no representation or warranty, whether expressly or by implication. Neither is TMH responsible nor liable for any loss, damage or expense suffered or incurred by you because of any act or omission by you in reliance of any of the information contained on the TMH Website.

33. Whilst TMH have no reason to believe that any information contained on TMH Website is inaccurate, TMH does not warrant or make any representations regarding the use, validity, accuracy or reliability of, or the results of the use of, or otherwise respecting, this TMH Website or the contents or materials on TMH Website or any websites linked to TMH Website, including without limitation, that

    1. use of TMH Website or any content or materials on or from TMH Website (including any software, product or service) will be uninterrupted,

    2. the TMH Website will be available at any particular time or location,

    3. any errors to the TMH Website will be corrected, or

    4. the servers on which the TMH Website, content and materials are available and free of viruses or other harmful components.

34. TMH shall have no responsibility or liability in relation to any loss or damage which you incur, including damage to your software or hardware, arising from your access or use to the TMH Website.

35. If any of the foregoing disclaimers may not apply to you in certain jurisdictions, the disclaimer shall apply to the extent and in so far allowed in such jurisdiction.

Intellectual Property Rights

36. The contents of the TMH Website are protected by copyright and other applicable proprietary and intellectual property laws, and they shall remain the sole property of the TMH. You must not reproduce or attempt to reproduce by any means whatsoever from the TMH Website, whether wholly or partly, without the prior express consent of TMH.

37. Subject to the above, you may, however, download and view the material or print a copy of material on the TMH Website for personal or non-commercial use provided you do not modify the copy from how it appears on this site (including any copyright notice). All rights not expressly granted herein are reserved.

38. The TMH Website may include third party content, and this is subject to that third party's terms of use and it is your duty to comply with the same.

Links and Advertisements

39. The TMH Website may contain links to third parties’ websites or advertisements from third parties to which TMH and the TMH Website have no control or interest. However, this is not to be construed in anyway whatsoever as TMH endorsing such websites or advertisements or any of their contents. Neither does it indicate a relationship between TMH and that third party or any products or services which that third party is advertising on the TMH Website or that party's website.

40. In addition, it is hereby declared that the appearance of any third party's links or advertisements on the TMH Website does not indicate or imply whatsoever that TMH and the TMH Website represent or warrant that third party's website and the products and services it is advertising on the TMH Website have complied with the relevant laws governing its business or the contents of its website.

41. TMH hereby repeats all the above disclaimers mutatis mutandis to your using such links to access or visit such third parties’ websites.

42. If you wish to link your website to TMH Website, you must first seek our prior express consent subject to our rights to charge, if necessary, a fee for such purpose.

Conditions of Sale

Normal Vehicle

43. The sale is made by TMH or the Auction House, acting as agent for the Legal Owner, subject to TMH Term & Condition and Legal Owner Term & Condition, the regulations implied upon or affecting the Vehicle.

44. All E-Bidders are required to remit the Deposit Sum and Buyer’s Premium with TMH prior to the auction. The Deposit Sum is as required and determined by the Legal Owner prior to the auction sale, by any payment mode in favour of Too Management Holdings Sdn Bhd, or by direct remittance to TMH’s nominated bank account number. Upon such remittance, the E-Bidder shall be responsible to provide proper notification to the TMH or the Auction House.

45. If Shortfall Deposit is required, the Shortfall Deposit shall be remitted to TMH’s nominated bank account number after auction or upon Bid Closure by the successful bidder/Purchaser.

46. TAKE NOTICE THAT SUCCESSFUL BIDDER/PURCHASER SHALL BE RESPONSIBLE TO COMPLETE PAYMENT OF THE DEPOSIT SUM BY REMITTING ANY SHORTFALL DEPOSIT IMMEDIATELY UPON BID CLOSURE BEFORE THE END OF BUSINESS DAY. IT SHALL BE THE PURCHASER’S RESPONSIBILITY TO ENSURE THAT THE SHORTFALL DEPOSIT IS IMMEDIATELY REMITTED TO TMH’S NOMINATED BANK ACCOUNT NUMBER BEFORE THE END OF BUSINESS DAY. THE PURCHASER SHALL IMMEDIATELY NOTIFY TMH/AUCTION HOUSE UPON SUCH REMITTANCE.

47. In the event the Purchaser fails, neglects and/or refuses to complete the transaction by remitting the Shortfall Deposit, the Deposit Sum and Buyer’s Premium paid earlier by the Purchaser shall be forfeited by the Auction House and the Vehicle shall forth with be put up for sale again.

48. Any E-Bidder who intends to bid on behalf of another person, body corporate or firm shall be responsible, to provide TMH or Auction House, an authorisation letter, prior to the auction. The E-Bidder shall ensure that such authorisation letter state that he/she is acting on behalf of another person, body corporate or firm and that he/she/it is authorised to sign all necessary documents. Further, the E-Bidder must furnish a copy of its identity card or company resolution, certificate of incorporation, company superform (as the case may be) to this effect which must be attached with the authorisation letter.

49. Subject to the Reserve Price, the highest bid price, being so allowed by the Auctioneer, shall be the successful bidder and the Purchaser of the Vehicle. The Auctioneer have the right and absolute discretion to refuse any bid. If any dispute shall arise to the highest bidder, the Vehicle shall, at the option of the Auctioneer be put up again for sale and re-sold. The Auctioneer may decide on the dispute, postpone, cancel or withdraw the Vehicle from the auction. The Legal Owner, Auction House and Auctioneer will neither have liability nor obligation to the intending bidders as a result of any vehicle withdrawal, cancellation or postponement of the auction. The intending bidder agrees to indemnify, defend, and hold the Legal Owner, Auction House and Auctioneer harmless from any and all liability arising out of any decisions made in resolving the disputes.

50. The E-Bidder shall be responsible for monitoring the auction that it is participating. The auction will start at the Reserve Price. All bids placed at the auction (a) must be made on a per-vehicle basis; and (b) may only be increased by multiplies of the increment sum set by the Auctioneer; (c) shall not be less than the last previous bid increment sum fixed by the Auctioneer; and (d) shall not be retracted.

51. The Vehicle is sold at an ‘As is, Where is’ basis, and it shall be the responsibility of the E-Bidder to read the TMH Terms & Condition, Proclamation of Sale, vehicle description and information, the ‘Remarks Column’, lot page and any other information in relation to the Vehicle listed for auction. Any photographs or videos displayed in TMH Website or social media platforms are only for reference and shall not form any part of the representation or warranty of TMH or the Legal Owner. The E-Bidder has the duty to conduct its own physical and independent inspection to assess the suitability and condition of the Vehicle BEFORE bidding.

52. Please be informed that the auction list is tentative in nature is subject to updates and changes. The term ‘TBC’ shall indicate that details is yet to be confirmed by the Legal Owner or TMH. The Legal Owner has the absolute discretion to suspend, withdraw, postpone or call-off or re-offer a Vehicle listed for auction for any reasons whatsoever. TMH, the Auctioneer and the Legal Owner reserves their right to make any changes to the auction list, Vehicle information, remarks, quantity, Deposit Sum, Buyer’s Premium, price, bid increment sum or vehicle information and details prior to the auction or Bid Closure. It shall be responsible the E-Bidder’s responsibility to keep itself informed of the latest update.

53. The E-Bidder shall be responsible to read and understand the payment terms, including the updates on the terms and conditions as outlined on the vehicle description or the TMH Term & Condition, Buyer’s Premium, the Deposit Sum, any Shortfall Deposit required from the successful E-Bidder or Purchaser, and other required charges applying to the auction.

54. When bidding on an auction through the E-Bidding Platform, the time referred to online will be the real live time to the auction.

55. The Bid Closure of the auction will run concurrently to the fall of the hammer. The status of the successful bidder and the Bid Closure will be reflected through the E-Bidder Account. All bids by the E-Bidder shall only be made through the E-Bidder Account. TMH, the Auction House and the Auctioneer have the sole discretion to reject and shall not recognize any bids made by the same E-Bidder. The E-Bidder acknowledge that this is a form of bid manipulation and shall be strictly prohibited.

56. Should there be any retraction from the E-Bidder before closure to the auction, the Deposit Sum and the Buyer’s Premium paid shall be forfeited to the 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. Once a bid is placed by the E-Bidder, it cannot be withdrawn.

57. Immediately after the Bid Closure, the status of each bid shall be indicated in the E-Bidder Account followed by a Memorandum of Contract which will be sent to the Purchaser, whether by SMS, e-mail or other electronic means.

58. In the event of the successful bid, the Deposit Sum and Buyer’s Premium paid earlier, or any such sum paid earlier as determined by the Legal Owner from time to time, shall be utilized in the following manner; the Buyer’s Premium paid to the Auction House and the balance of the Deposit Sum to be paid to the Legal Owner.

59. If the Selling Price is higher than the Reserve Price AND the Purchaser is required to pay the Shortfall Deposit, the Purchaser shall immediately pay the Shortfall Deposit before the end of business day to complete payment of the Deposit Sum.

60. The non-receipt of any notification from TMH shall not release the Purchaser from its obligation to pay the Shortfall Deposit, complete the transaction and purchase the Vehicle. A Purchaser must complete the transaction and purchase the Vehicle.

61. In the event the Purchaser fails, neglects and/or refuses to complete the transaction after the Bid Closure, the Deposit Sum and Buyer’s Premium paid earlier by the Purchaser shall be forfeited by the Auction House and the Vehicle shall forth with be again put up for sale. The deficiency in price (if any), which may result from a re-sale or the purchase price if there is no re-sale (as the case may be), shall be recoverable from the defaulting Purchaser.

62. The Auction House or TMH reserve the right not to proceed with the completion of the sale of a vehicle if (i) the Purchaser fails to pay the required Shortfall Deposit; (ii) if Purchaser is uncontactable; in which case, all Deposit Sum and Buyer’s Premium paid shall be forfeited and the Vehicle will be put up for resale by the Legal Owner at its sole discretion.

63. The balance purchase price together with tax (if applicable) shall be paid in full by the Purchaser within the Settlement Period as stipulated in the Memorandum of Contract. Any extension may attract a penalty clause. However, the Settlement Period 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 that if any extension of time is granted, the Purchaser shall : (a) pay the Legal Owner interest, charges & costs 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 expiry of the extended time period for payment; and (b) pay the Auction House storage charges at the rate to be determined by the Auction House at their absolute discretion.

64. 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 manner required by the Legal Owner, any Deposit Sum and Buyer’s Premium paid pursuant to the auction shall be forfeited by 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 re-sale, or the balance of the purchase price if there is no resale shall be recoverable from the defaulting Purchaser as the case may be.

65. Upon full payment of the balance of the purchase price together with tax (if applicable) and the storage charges and interest (if any) 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, such as transfer fee, stamp duty and registration fees and transfer form (JPJ K3) to give effect to the Transfer 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.

66. The Purchaser shall obtain the consent from the Legal Owner if the Transfer is to be made to an individual or entity other than the Purchaser.

67. The Purchaser is advised to effect transfer of ownership via involuntary transfer (double Transfer). Should the Purchaser fraudulently obtain attestation on the transfer documents to proceed with the voluntary transfer (single transfer), the Legal Owner and/or the Auction House and/or the Auctioneer shall not be liable if the transfer is denied subsequently.

68. The Auction House & Auctioneer shall have the right to charge storage fees calculated on a daily basis should the Purchaser fail to redeem the Vehicle within such time notified by the Legal Owner upon full payment of the balance purchase price with any interest therein (as the case may be).

69. Any request for refund of monies paid by the Purchaser shall only be allowed under the following circumstances:

    1. 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 the time frame as indicated by the Legal Owner, AND further provided that the request for refund must be made with the Legal Owner within the time frame as indicated by 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

    2. The Transfer cannot be effected due to reasons attributable to the Legal Owner only. 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 the time frame as indicated by 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.

70. The Purchaser shall presumed to admit until the contrary the identity of the Vehicle purchased by him with that comprised in the muniments or notification offered by the Auction House.

71. The Vehicle is believed and shall be taken to be correctly described and the Purchaser shall deem to have full knowledge of the state and conditions of the Vehicle that they intended to bid by viewing themselves and no error, mis-statement, mis-description or mis-representation shall annul the sale nor shall any compensation be allowed in respect thereof. For clarification purposes, the Auction House is only the agent of the Legal Owner to auction the Vehicle and do not have knowledge on the mechanical, electrical condition and history of the Vehicle and the workability of the interior parts of the Vehicle.

72. 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.

73. For the purposes herein, the Settlement Period and the conditions stated on the Memorandum of Contract shall deem to be the essence of the contract and the Terms and Conditions herein.

74. The Purchaser is deemed to have made independent checking and verification as regards to particulars of Vehicle with all relevant authorities to his satisfaction and no express representation as regard the accuracy of the particulars of the Vehicle is made. The Legal Owner, Auction House and the Auctioneer disclaim all liabilities for representations made and excluded.

75. The Vehicle is sold on an “As Is Where Is basis”. The Purchaser acknowledges and agrees that there shall be no warranty or guarantee made to the quality and condition to the Vehicle, including any engine swap/change and differences to the engine number, where in such event, no refund of monies shall be allowed.

76. The Auction House shall be at liberty to postpone, call-off or adjourn the auction at any material time without having to provide any reasons or ground whatsoever.

77. As from the time of the sale, the Vehicle shall be at the sole risk of the Purchaser as regards to loss or damage by fire or other accident or otherwise.

78. 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.

79. In the event of any discrepancy, mis-statement or error appearing in the various translations therein the English version shall prevail (if any).

80. All sums or payments contemplated herein are subject to any applicable tax in accordance to the laws, regulations, orders and directives issued by the governmental authorities.

81. The Legal Owner Term and Condition imposed by the respective Legal Owners are found in TMH Website and shall apply as part of the Terms and Conditions.

82. If the sale of the Vehicle is subject to tax, the Purchaser shall pay the Purchase Price with tax (if applicable). 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 applicable taxes, 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 law and/or the purchaser's obligations herein.

Defective Vehicle

83. The sale is made by TMH or the Auction House, acting as agent for the Legal Owner, subject to TMH Term & Condition and Legal Owner Term & Condition, the regulations implied upon or affecting the Vehicle.

84. All E-Bidders are required to remit the Deposit Sum and Buyer’s Premium with TMH prior to the auction. The Deposit Sum is as required and determined by the Legal Owner prior to the auction sale by any payment mode in favour of Too Management Holdings Sdn Bhd, or by direct remittance to TMH’s nominated bank account number. Upon such remittance, the E-Bidder shall be responsible to provide proper notification to TMH or the Auction House.

85. For clarification purposes, “Defective Vehicle” or the Vehicles referred to hereinafter, shall mean wreck or scrap vehicles whereupon a wreck vehicle is a vehicle which is damaged but repairable with documents available but with no guarantee to registrability or transferability, whereas, a scrap vehicle refers to a vehicle which can only be sold as scraps or as spare parts. In any event, the Vehicle is sold on an “As is Where Is Basis” with no warranty or guarantee provided by TMH, Auction House, Legal Owner or its agents/representative.

86. If Shortfall Deposit is required, the Shortfall Deposit shall be remitted to TMH’s nominated bank account number after auction or upon Bid Closure by the successful bidder/Purchaser.

87. TAKE NOTICE THAT SUCCESSFUL BIDDER/PURCHASER SHALL BE RESPONSIBLE TO COMPLETE PAYMENT OF THE DEPOSIT SUM BY REMITTING ANY SHORTFALL DEPOSIT IMMEDIATELY UPON BID CLOSURE BEFORE THE END OF BUSINESS DAY. IT SHALL BE THE PURCHASER’S RESPONSIBILITY TO ENSURE THAT THE SHORTFALL DEPOSIT IS IMMEDIATELY REMITTED TO TMH’S NOMINATED BANK ACCOUNT NUMBER BEFORE THE END OF BUSINESS DAY. THE PURCHASER SHALL IMMEDIATELY NOTIFY TMH/AUCTION HOUSE UPON SUCH REMITTANCE.

88. In the event the Purchaser fails, neglects and/or refuses to complete the transaction by remitting the Shortfall Deposit, the Deposit Sum and Buyer’s Premium paid earlier by the Purchaser shall be forfeited by the Auction House and the Vehicle shall forth with be put up for sale again.

89. Any E-Bidder who intends to bid on behalf of another person, body corporate or firm shall be responsible, to provide TMH or Auction House, an authorisation letter, prior to the auction. The E-Bidder shall ensure that such authorisation letter state that he/she is acting on behalf of another person, body corporate or firm and that he/she/it is authorised to sign all necessary documents. Further, the E-Bidder, must furnish a copy of the its identity card or company resolution, certificate of incorporation, company super form (as the case may be) to this effect which must be attached with the authorisation letter.

90. The Vehicle is sold at an ‘As is, Where is’ basis, and it shall be the responsibility of the E-Bidder to read the TMH Terms & Condition, Proclamation of Sale, vehicle description and information, the ‘Remarks Column’, lot page and any other information in relation to the Vehicle listed for auction. Please do not solely rely on the title summary or any photographs of the Vehicle. Any photographs or videos of the Vehicle provided in TMH Website are only for reference. Please conduct your own physical and independent inspection including enquiry with Legal Owner if necessary, to assess the suitability and condition of the Vehicle BEFORE bidding.

91. Please be informed that the auction list is tentative in nature is subject to updates and changes. The term ‘TBC’ shall indicate that details is yet to be confirmed by the Legal Owner or TMH. The Legal Owner has the absolute discretion to suspend, withdraw, postpone or call-off or re-offer a Vehicle listed for auction for any reasons whatsoever. TMH, the Auctioneer and the Legal Owner reserves their right to make any changes to the auction list, Vehicle information, remarks, quantity, Deposit Sum, Buyer’s Premium, price, bid increment sum or vehicle information and details prior to the auction or Bid Closure. It shall be responsible the E-Bidder’s responsibility to keep itself informed of the latest update.

92. The E-Bidder shall be responsible for monitoring the auction that it is participating. The E-Bidder shall be responsible to read and understand the payment terms, including the updates on the terms and conditions as outlined on the vehicle description or the TMH Term & Condition, Buyer’s Premium, the Deposit Sum, any Shortfall Deposit required from the successful E-Bidder or Purchaser, and other required charges applying to the auction.

93. When bidding on an auction through the E-Bidding Platform, the time referred to online will be the real live time to the auction.

With Reserve Price:

94. The auction will start at the Reserve Price. All bids placed at the auction

    1. must be made on a per-vehicle basis; and

    2. may only be increased by multiplies of the increment sum set by the Auctioneer;

    3. shall not be less than the last previous bid increment sum fixed by the Auctioneer; and

    4. shall not be retracted.

95. Subject to the Reserve Price, the highest bid price, being so allowed by the Auctioneer, shall be the successful bidder and the Purchaser of the Vehicle. The Auctioneer have the right and absolute discretion to refuse any bid. 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.

96. The Auctioneer may decide on the dispute, postpone, cancel or withdraw the vehicle from the auction. The Legal Owner, Auction House and Auctioneer will neither have liability nor obligation to the intending bidders as a result of any vehicle withdrawal, cancellation or postponement of the auction. The intending bidder agrees to indemnify, defend, and hold the Legal Owner, Auction House and Auctioneer harmless from any and all liability arising out of any decisions made in resolving the disputes.

97. The Bid Closure of the auction will run concurrently to the fall of the hammer. The status of the successful bidder and the Bid Closure will be reflected through the E-Bidder Account. All bids by the E-Bidder shall only be made through the E-Bidder Account. TMH, the Auction House and the Auctioneer have the sole discretion to reject and shall not recognise any bids made by the same E-Bidder. The E-Bidder acknowledge that this is a form of bid manipulation and shall be strictly prohibited.

98. If the Selling Price is higher than the Reserve Price AND the Purchaser is required to pay the Shortfall Deposit, the Purchaser shall immediately pay the Shortfall Deposit before the end of business day to complete payment of the Deposit Sum.

Without Reserve Price:

99. The highest bid price, being so allowed by the Auctioneer, shall be the Purchaser, subject to the acceptance of offer by the Legal Owner and the Auctioneer have the right to refuse any offer. 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 on the dispute.

100. The Bid Closure of the auction will run concurrently at the fall of the hammer. At the Bid Closure, the bid price offered by the highest E-Bidder being so allowed by the Auctioneer at the Bid Closure, shall be presented to the Legal Owner as a formal offer price for the Vehicle and the acceptance of the said offer price is subject to the Legal Owner. If Legal Owner accepts the offer price, a confirmation of acceptance will be sent to the Purchaser. If the Legal Owner rejects the offer price, the Vehicle shall at the option of the Auctioneer or Legal Owner be put up again for sale or auction.

101. The Auctioneer may decide on the dispute, postpone, cancel or withdraw the vehicle from the auction. The Legal Owner, Auction House and Auctioneer will neither have liability nor obligation to the intending bidders as a result of any vehicle withdrawal, cancellation or postponement of the auction. The intending bidder agrees to indemnify, defend, and hold the Legal Owner, Auction House and Auctioneer harmless from any and all liability arising out of any decisions made in resolving the disputes.

102. If the Purchaser refuses to acknowledge or retracts his own offer after confirmation of acceptance by the Legal Owner, any deposit paid earlier by the Purchaser shall be forfeited and the Vehicle shall forth with be again put up for sale. The deficiency in price (if any), which may result from a re-sale or the purchase price if there is no resale as the case may be, shall be recoverable from the defaulting Purchaser.

103. In the event the Purchaser fails, neglects and/or refuses to complete the transaction after the Bid Closure, the Deposit Sum and Buyer’s Premium paid earlier by the Purchaser shall be forfeited by the Auction House and the Vehicle shall forth with be again put up for sale. The deficiency in price (if any), which may result from a re-sale or the purchaser price if there is no re-sale (as the case may be), shall be recoverable from the defaulting Purchaser.

104. 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 E-Bidder before closure of the auction, the Deposit Sum and the Buyer’s Premium paid shall be forfeited to the 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. Once a bid is placed by the E-Bidder, it cannot be withdrawn.

105. Immediately after the Bid Closure, the status of each bid shall be indicated in the E-Bidder Account followed by a Memorandum of Contract which will be sent to the Purchaser, whether by SMS, e-mail or other electronic means.

106. In the event of a successful bid, the Deposit Sum and Buyer’s Premium paid earlier, or any such sum paid earlier as determined by the Legal Owner from time to time, shall be utilised in the following manner; the Buyer’s Premium paid to the Auction House and the balance of the Deposit Sum to be paid to the Legal Owner.

107. The non-receipt of any notification from TMH shall not release the Purchaser from its obligation to pay the Shortfall Deposit, complete the transaction and purchase the Vehicle. A Purchaser must complete the transaction and purchase the Vehicle.

108. The Auction House or TMH reserve the right not to proceed with the completion of the sale of a Vehicle if

     1. the Purchaser fails to pay the required Shortfall Deposit;

     2. if the Purchaser is uncontactable; in which case, all Deposit Sum and Buyer’s Premium shall be forfeited and the Vehicle will be put up for resale by the Legal Owner, at its sole discretion.

109. The balance purchase price together with any tax (if applicable) shall be paid in full by the Purchaser within the Settlement Period as stipulated in the Memorandum of Contract, to the Auction House. Any extension may attract a penalty clause. However, the Settlement Period 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 that if any extension of time is granted, the Purchaser shall: a) pay interest, charges & costs 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 expiry of the extended time period for payment; and b) pay storage charges at the rate to be determined by the Auction House at their absolute discretion.

110. 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 required by the Legal Owner, any Deposit Sum and Buyer’s Premium paid pursuant to the auction shall be forfeited by 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 re-sale, or the balance of the purchase price if there is no resale shall be recoverable from the defaulting Purchaser as the case may be.

111. Upon full payment of the balance of the purchase price together with tax (if applicable) and the storage charges and interest (if any), the Legal Owner shall execute or cause to be executed at the Purchaser's costs and expenses, such as transfer fee, stamp duty and registration fees and transfer form (JPJ K3) to give effect to the Transfer 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.

112. The Purchaser shall obtain the consent from the Legal Owner if the Transfer is to be made to an individual or entity other than the Purchaser.

113. The Purchaser is advised to effect transfer of ownership via involuntary transfer (double Transfer). Should the Purchaser fraudulently obtain attestation on the transfer documents to proceed with the voluntary transfer (single transfer), the Legal Owner and/or the Auction House and/or the Auctioneer shall not be liable if the transfer is denied subsequently.

114. The Auction House & Auctioneer shall have the right to charge storage fees calculated on a daily basis should the Purchaser fail to redeem the vehicle within such time notified, upon full payment of the balance purchase price with any interest therein (as the case may be).

115. The Purchaser expressly acknowledge that: -

     1. no warranty is made as to the availability of the title or whether the Legal Owner has title to the vehicles;

     2. no warranty is made, to the satisfactory quality of the vehicle or if the vehicle is fit for purpose or free from encumbrances or if the Purchaser will enjoy quiet possession;

     3. no warranty is made to any successful registration of the vehicle with the relevant authorities including but not limited to unauthorised joining, welding, modification, etc, rendering the vehicle not road-worthy;

     4. no refund will be entertained in the event of non-registration, seizure, forfeiture of the vehicle and / or any other reasons whatsoever;

     5. all implied warranties under the Sale of Goods Act are specifically negated and excluded.

116. The Purchaser shall presume to admit until the contrary the identity of the vehicle purchased by him with that comprised in the muniments or notification offered by the Auction House.

117. 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 that they intended to bid by viewing themselves and no error, mis-statement, misdescription or mis-representation shall annul the sale nor shall any compensation be allowed in respect thereof. For clarification purposes, the Auction House is only the agent of the Legal Owner to auction the Vehicle and do not have knowledge on the mechanical, electrical condition and history of the vehicle and the workability of the interior parts of the Vehicle.

118. 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.

119. For the purpose of these conditions, the Settlement Period and the conditions stated on the E-Confirmation Details shall deem to be the essence of the Terms and Conditions.

120. 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 regard the accuracy of the particulars of the Vehicle is made. The Legal Owner, Auction House and the Auctioneer disclaim all liabilities for representations made and excluded.

121. The Vehicle is sold on an “As Is Where Is basis”. The Purchaser acknowledges and agrees that there shall be no warranty or guarantee made to the quality and condition to the vehicle, including any engine swap/change and differences to the engine number, where in such event, no refund of monies shall be allowed.

122. The Auction House shall be at liberty to postpone, call-off or adjourn the auction at any material time without having to provide any reasons or ground whatsoever.

123. As from the time of the sale, the vehicle shall be at the sole risk of the Purchaser as regards to loss or damage by fire or other accident or otherwise.

124. The sale of vehicle is subject to Section 18(4)(a) of the Hire Purchase Act 1967 (Act 212) (if applicable).

125. In the event of any discrepancy, mis-statement or error appearing in the various translations therein the English version shall prevail (if any).

126. All sums or payments contemplated herein are subject to any applicable tax, in accordance to the laws, regulations, orders and directives issued by the governmental authorities.

127. If the sale of the Vehicle is subject to tax, the Purchaser shall pay the Purchase Price with tax (if applicable). 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 applicable taxes, 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 law and/or the purchaser's obligations herein.

128. Contracts or documents in relation to the E-Bidding Platform shall be issued by TMH through the email address of no-reply@mg.bidonline.my. Contracts or documents issued through other email address shall not be valid contracts or documents issued by TMH. All monies paid to participate in the E-Bidding Platform shall be made directly to TMH. Third parties are prohibited from collecting any monies on behalf of TMH. Should any E-Bidder be found to have misused the contract or documents of TMH, or made unauthorised collection of monies, TMH will not hesitate to report the breach to relevant authorities, initiate any legal action or permanently bar the participation of such E-Bidder from the E-Bidding Platform.

Governing Law

129. The TMH Term and Condition shall be governed and construed in accordance to the laws of Malaysia. All parties hereby agree to submit to the non-exclusive jurisdiction of the Malaysian Courts.