The Terms and
Conditions specified herein shall govern all members of www.heritageauctioneers.my (“HERITAGE AUCTIONEERS SDN. BHD.
website”). Â
 1. ELIGIBILITY OF E-BIDDERS
1.1.
Parties who are interested to participate
in public auction (“E-Bidders”) may do so by logging on to HERITAGE AUCTIONEERS SDN. BHD. Website and register as a
member.Â
1.2.
E-bidders who register as a member to
participate in the public auction via HERITAGE
AUCTIONEERS SDN BHD website shall:Â
a. Be ofÂ
18Â years and above, sound mind
and not an undischarged bankrupt;
b. For a
company, be incorporated under the laws of Malaysia and must not be in
liquidation;
c.
Be able to take, fulfil and perform all necessary actions, conditions and
matters (including obtaining any necessary consents) in terms of law to enable
E-bidders to participate in the public auction and complete the purchase in the
event of successful bid.Â
1.3.
E-bidders’ eligibility requirements are
also subject to the existing Federal and State legal provisions. Non-Malaysian
E-bidders or companies are also advised to take note of restrictions applicable
on foreign purchase imposed by relevant authorities. Â
2. REGISTRATION
OF E-BIDDERS
2.1. E-Bidders shall provide true, current and
accurate information to register as a member.Â
2.2. Individual E-Bidders are required to upload
copies of identification documents.Â
    2.3. For E-bidders who are companies,
certified copies of the Form 24; Form 44; Form 49 (or its equivalent forms
under the Companies Act 2016); Memorandum and Articles of Association /
Constitution of the company in compliance with Companies Act 2016 and a duly
signed Board of Director’s Resolution shall be uploaded.Â
    2.4. E-Bidders only need to register as member once
and the registered E-Bidder’s member name and password can be used for the
subsequent auctions on the HERITAGE
AUCTIONEERS SDN. BHD. Website.Â
    2.5. E-bidders are responsible to identify the
property properly and to ensure that the details and description of the
Property are correct and accurate before  Â
bidding.
    2.6. It is the sole and absolute responsibility of
all intending E-Bidders at their own costs and expense, seek and obtain from
the Developer and/or the relevant
authorities or bodies, all confirmations and/or consents as may be required or
as may be applicable in respect of the purchase of the Property and to satisfy
themselves on the physical condition of the Property and all matters in connection
with the Property prior to the bidding (including and not limited to verifying
the identity, particulars, state and condition of the Property and the terms of
the conditions and restrictions affecting the Property if any, whether or not
the Property is reserved for Bumiputra
or Malay only and/or is a low cost property, and matters relating to the ownership and transfer of the
Property, the status of the separate document of title to the Property and its
particulars, the liabilities including amounts of outstanding service or
maintenance charges owing and other obligations pertaining to the Property and
the E-Bidders’ eligibility and qualification to purchase the Property).
E-Bidders shall be deemed to have full knowledge of all of the matters aforesaid.
The Auctioneer, the Assignee/Bank, the Assignee/Bank’s solicitors and HERITAGE AUCTIONEERS SDN. BHD. website
and their respective agents or servants do not in any way make any
representation or warranty in respect of any of the aforesaid and shall not in
any way be responsible or liable to the E-Bidders in respect of any of the
aforesaid.Â
    2.7. The registration of an individual or company as
a member on the HERITAGE AUCTIONEERS
SDN. BHD. website shall not be construed as approval of eligibility of the
intended E-bidder to conclude the auction sale. Please refer to Part 1 above
for requirements on the eligibility of E-bidders.  Â
3. HOW TO
BIDÂ
3.1.
E-Bidders may browse through the HERITAGE AUCTIONEERS SDN. BHD. website
and select the properties they wish to bid.Â
3.2.
E-Bidders are required to agree and
accept the HERITAGE AUCTIONEERS SDN.
BHD. website Terms & Conditions before proceeding with the bid.Â
3.3.
The Terms & Conditions shall be read
together with all the Conditions of Sale attached to the Proclamation of Sale
which is uploaded on the HERITAGE
AUCTIONEERS SDN. BHD. website and shall be deemed to have been read and
agreed upon by the E-Bidders prior to bidding.
3.4.
E-Bidders must make deposit payment as
required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price. Payment of
the deposit must be made via local bank transfer to HERITAGE AUCTIONEERS SDN. BHD. Evidence of the transfer must be
uploaded and submitted at the time of registration.Â
3.5.
E-Bidders are required to complete the
registration process by inserting the relevant details and uploading the
relevant Documents including evidence of payment of the deposit onto the HERITAGE AUCTIONEERS SDN. BHD. website
latest by 6.00 P.M, at least one (1) working day before the auction date.  Â
3.6.
Registration shall be subject to
verification and approval of HERITAGE
AUCTIONEERS SDN. BHD. website and subject further to deposit payment being
cleared by the bank. Please take note that approval from HERITAGE AUCTIONEERS SDN. BHD. administrator may take at least 1
working day and any improper, incomplete registration or late registration may
be rejected at the sole discretion of the HERITAGE
AUCTIONEERS SDN. BHD. website. Neither HERITAGE
AUCTIONEERS SDN. BHD. website nor its agents and/or representatives bears
any responsibility or assumes any liability in the event that the registration
of a prospective E-Bidder is rejected and / or delayed for any reason
whatsoever. In the event of the registration is rejected, the deposit paid (if
cleared by the bank) shall be refunded to the same bank account from which the
deposit transfer was made within two (2) working days.
3.7.
E-Bidders intending to authorize any
person to execute the Memorandum/Contract of Sale upon successful bidding of
the property shall do so by furnishing the following documents to the
Auctioneer:
a. The
person’s NRIC copy (front and back); and
b. A copy of
the relevant Letter of Authorization.
3.8.
Upon approval and verification by HERITAGE AUCTIONEERS SDN. BHD. website
and subject to the deposit payment being cleared by the bank, registered E-Bidders will receive a password,
i.e. “PIN”, and a secured hyperlink via
EMAIL to the registered mobile number which allows the registered E-Bidders to bid for their intended property
on the auction day.Â
3.9.
Bidding may be done via a computer, smart
phone or any comfortable device with internet connection.  Â
4. BIDDING
PROCEDURESÂ
4.1.
Bidding shall generally commence based on
the sequence of the lot being shown on the HERITAGE
AUCTIONEERS SDN. BHD. website. However, the Auctioneer has the right to
vary this sequence without notice.Â
4.2.
It shall be the responsibility of
registered E-Bidders to log in through the HERITAGE
AUCTIONEERS SDN. BHD. website to wait for their turn to bid for the
property lot in which they intend to bid.Â
4.3.
TheÂ
Auctioneer has the right to set a new reserve price in the event there
is more than 1 bidder provided that the new reserved price set by the
auctioneer shall not exceed the market value and/or the reserved price stated
and/or recommended in the Valuation Report relied upon for the auction. The
reference to a "bidder” here includes E-Bidders as well as on-site
bidders.Â
4.4.
Auctioneer will announce the amount of
incremental bid and the same will appear on the website prior to the
commencement of the auction.Â
4.5. “Standby mode” is displayed, followed by a
message stating “Bidding started”. Enter your “Start bid”.Â
4.6. Each bid will be called for 3 times, “First
Calling, “Second Calling”, “Final Call”. Registered E-Bidders may submit their
bid at any of these stages of biddings by entering the bid amount.Â
4.7.
Any bid by the registered E-bidders shall
not be withdrawn once entered.Â
4.8.
In the event of any clarification,
disruption or special situation, the Auctioneer may at his discretion decide to
pause, postpone and/or call off the public auction. The E-bidders will be
notified of this on the webpage.
4.9. When
system displays “No More Bids”, no further bids will be accepted by the
Auctioneer, whether on-site or through the HERITAGE
AUCTIONEERS SDN. BHD. website.Â
4.10. The bidder with the highest bid
shall be declared as successful bidder upon the fall of hammer.Â
4.11.  The decision of the Auctioneer shall
be final and binding on all on-site and/or E-bidders.Â
4.12.
A successful bidder will be directed to a page where further directions are
given in order to conclude the sale of the auction property. Please also refer
to Part 5 below.
4.13. Unsuccessful E-Bidders will
have the deposit paid processed to be refunded to the same bank account from
which the deposit transfer was made within three (3) working days.Â
4.14.
The information shown and/or prompted on the screen handled by the HERITAGE AUCTIONEERS SDN.
         BHD. website regarding the
public auction, particularly to the calling of bidding price during the bidding
process and the declaration of successful bidder shall be final and
conclusive.  Â
5. POST
PUBLIC AUCTION
5.1.
Any E-Bidders who successfully bids for
the Property shall and undertake to sign the Memorandum of Sale and pay the
difference between 10% of the
purchase price and the deposit paid
under clause 3.4 above (“differential sum”) at the office of the Auctioneer
within 3 working days from the date of auction, failing which the deposit paid
will be forfeited to the Assignee Bank and sale will be deemed
cancelled/terminated and the property may be put up for subsequent auction
without further notice to the said E-Bidders. The Auctioneer shall send the
Memorandum of Sale for stamping and thereafter forward the same together with
the deposit paid under clause 3.4 above and the differential sum paid under
this clause (If any) to the Assignee Bank.Â
5.2.
Any successful E-Bidders who is unable to
attend to sign the Memorandum of Sale at the office of the Auctioneer may do so
by authorising another person to sign the same on his behalf by inserting the
particulars of the authorised person at HERITAGE
AUCTIONEERS SDN. BHD. website. The authorised person shall provide the
Letter of Authorisation signed by the successful E-bidder together with a copy
of his/her identity card to the Auctioneer.Â
5.3.
In the event if there is inconsistency
between the personal details and documents uploaded in the HERITAGE AUCTIONEERS SDN. BHD. website and the actual documents
produced by the successful bidder, the Auctioneer shall have the right to
refuse the successful bidder from signing the Memorandum of Sale and may at his
discretion cancel the sale and proceed to put the property up for a new auction
and the deposit paid shall be used to defray the cost of the auction.   Â
5.4.
The Memorandum/Contract of Sale, upon
being signed by the Auctioneer, Solicitor for the Assignee Bank and successful
bidder, shall be a conclusive evidence for the sale of the Property to the
successful bidder.Â
5.5.
The Memorandum of Sale may be signed in
any number of counterparts, all of which taken together shall constitute one
and the same instrument. Any party may enter into this Memorandum of Sale by
signing any such counterpart and each counterpart may be signed and executed by
the parties and shall be as valid and effectual as if executed as an
original. Â
6. OTHER
APPLICABLE TERMS & CONDITIONSÂ
6.1. All
registered E-bidders at HERITAGE
AUCTIONEERS SDN. BHD. website undertake to fully comply with this terms and
conditions herein. Further, all successful E-Bidders shall also be bound by the
terms and conditions of the Conditions of Sale attached to the Proclamation of
Sale.Â
6.2. The
Auctioneer may from time to time add, modify, or delete any terms and
conditions herein.Â
6.3. E-Bidders
are responsible to ensure that their internet access is in good condition
during the whole process of public auction until conclusion thereof.
Unsatisfactory internet access may disrupt any bids made by the E-Bidders.Â
6.4. The
Auctioneer or the HERITAGE AUCTIONEERS
SDN. BHD. website shall not be liable for any disruptions, delays,
failures, errors, omissions, or loss of transmitted information due to the
unsatisfactory internet access or any online disruptions that may howsoever
occur during the process of public auction at HERITAGE AUCTIONEERS SDN. BHD. website.Â
6.5. HERITAGE AUCTIONEERS SDN. BHD. Website
is owned and operated by HERITAGE
AUCTIONEERS SDN. BHD. The E-Bidders agree and accept that HERITAGE AUCTIONEERS SDN. BHD. or the
Auctioneer or the Assignee Bank in which HERITAGE
AUCTIONEERS SDN. BHD./ Auctioneer acts for or their Solicitors or any of
their respective servants or agents shall not be in any way liable for any
claims or loss arising out of the use of the HERITAGE AUCTIONEERS SDN. BHD. website. Â
7. APPLICABLE
LAWS AND JURISDICTIONÂ
7.1.
The usage of HERITAGE AUCTIONEERS SDN. BHD.
website together with the terms and conditions hereof shall be governed by and
construed in accordance with the laws of Malaysia.Â
7.2.
The laws of Malaysia shall regulate and
apply to all electronic transactions of immoveable property by public auction.
Any legal actions or proceedings arising out of or in connection with the
electronic transaction of immoveable property by public auction shall subject
to the exclusive jurisdiction of the Courts of Malaysia.  Â
8. CONFIDENTIALITY
OF INFORMATIONÂ
8.1.
By accessing this HERITAGE AUCTIONEERS SDN. BHD. website, the E-Bidders acknowledge
and agree that HERITAGE AUCTIONEERS SDN.
BHD. website may collect, retain, or disclose the E-Bidder’s information or
any information by the e-bidders for the effectiveness of services, and the
collected, retained or disclosed information shall comply with Personal Data
Protection Act 2010 and any regulations, laws or rules applicable from time to
time.Â
8.2.
E-Bidders agree to accept all associated
risks when using the service in the HERITAGE
AUCTIONEERS SDN. BHD. website shall not make any claim for any unauthorized
access or any consequential loss or damages suffered.Â
8.3. E-Bidders
shall be responsible for the confidentiality and use of password and not to
reveal the password to anyone at any time and under any circumstances, whether
intentionally or unintentionally.Â
8.4. E-Bidders
agree to comply with all the security measures related to safety of the
password or generally in respect of the use of the service.Â
8.5. E-Bidders
accept the responsibility that in any event that the password is in the
possession of any other person whether intentionally or unintentionally, the
E-Bidders shall take precautionary steps for the disclosure, discovery, or the
Bidders shall immediately notify HERITAGE
AUCTIONEERS SDN. BHD.  Â
9. INTELLECTUAL
PROPERTYÂ
9.1.
Any information, contents, materials,
documents, details, graphics, files, data, text, images, digital pictures, or
any visual being displayed in the HERITAGE
AUCTIONEERS SDN. BHD. website shall not be used or published either by
electronic, mechanical, photocopying, recording or otherwise without the
permission from HERITAGE AUCTIONEERS
SDN. BHD. website.Â
9.2.
In the event of any infringement of
intellectual property rights under the Terms and Conditions herein, HERITAGE AUCTIONEERS SDN. BHD. website
may use any available legal remedies which may include the demand for actual or
statutory damages, solicitors’ fees and injunctive relief. Â
10. MISCELLANEOUSÂ
10.1
   In the event there is any discrepancy,
misstatement or error appearing in translations of the particulars and the
Terms and Conditions to any other language (if any), the Terms and Conditions
in the English Language version shall prevail. Â