ONLINE TERMS AND CONDITIONS

                The Terms and Conditions specified herein shall govern all users of www.rajanauctioneers.com (“Rajan Auctioneers website”)

 

1. ELIGIBILITY OF E-BIDDERS
   1. Parties who are interested to participate in public auction (“E-Bidders”) may do so by logging on to Rajan Auctioneers Website and register as a user.
   2. E-bidders who register as a user to participate in the public auction via Rajan Auctioneers website shall:

1. Be of 18 years and above, sound mind and not an undischarged bankrupt;
2. For a company, be incorporated under the laws of Malaysia and must not be in liquidation;
3. Be able to take, fulfill 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.

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.

 

2. REGISTRATION OF E-BIDDERS
   1. E-Bidders shall provide true, current and accurate information to register as a user.
   2. Individual E-Bidders are required to upload copies of identification documents.
   3. For E-bidders who are companies, certified copies of the Form 24; Form 44; Form 49 (or it’s 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.
   4. E-bidders only need to register as user once and the registered E-bidder’s username and password can be used for the subsequent auctions on the Rajan Auctioneers Website
   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 bidding.
   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 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 Rajan Auctioneers 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.
   7. The registration of an individual or company as a user on the Rajan Auctioneers website shall not be constructed as approval of eligibility of the intended E-bidder to conclude the auction sale. Please refer to Part 1 above requirements on the eligibility of E-bidders.

 

3. HOW TO BID
   1. E-Bidders may browse through the Rajan Auctioneers website and select the properties they wish to bid.
   2. E-Bidders are required to agree and accept the Rajan Auctioneers website Terms & Conditions before proceeding with the bid.
   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 Rajan Auctioneers website and shall be deemed to have been read and agreed upon by the E-Bidders prior to bidding. In the event of any inconsistency between the Terms & Conditions stated herein and the Conditions of Sale attached to the Proclamation of Sale, the Conditions of Sale attached to the Proclamation of Sale shall prevail.
   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 in favour of RAJAN AUCTIONEERS SDN BHD. Evidence of the transfer must be uploaded and submitted at the time of registration.
   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 Rajan Auctioneers website, at least one (1) working day before the auction date.
   6. Registration shall be subject to verification and approval of Rajan Auctioneers website and subject further to deposit payment being cleared by the bank. Please take note that approval from Rajan Auctioneers 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 Rajan Auctioneers website. Neither Rajan Auctioneers website nor its agents and/or representative 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. If the registered bidders not successful on the auction bidding, the deposit will refund within 2 working days to the respective registered bidder.
   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:

1. The person’s NRIC copy (front and back); and
2. A copy of the relevant Letter of Authorization.

 

 

3.8     Upon approval and verification by Rajan Auctioneers 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 SMS / Whatapp / Phone call to the registered mobile number which allows the registered E-Bidders to bid for their intended property on the auction day.

3.9     Bidding may be done via a computer, smart phone or any device with internet connection

 

4. BIDDING PROCEDURES
   1. Bidding shall generally commence based on the sequence of the lot being shown on the Rajan Auctioneers website. However the Auctioneer has the right to vary this sequence without notice.
   2. It shall be the responsibility of registered E-Bidders to log in through the Rajan Auctioneers website to wait for their turn to bid for the property lot in which they intend to bid.
   3. The Auctioneer has the right to set a new reserve price in the event there is more than 1 bidder. The reference to a “bidder” here includes E-Bidders as well as on-site bidders.
   4. Auctioneer will announce the amount of incremental bid and the same will appear on the website prior to the commencement of the auction.