Common use of ELIGIBILITY TO BID Clause in Contracts

ELIGIBILITY TO BID. 2.1 The bidder must be 18 years old and above, sound mind and not declared as bankrupt. 2.2 For Company bidder(s): The bidder must be incorporated under the laws of Malaysia and must not be in liquidation. 2.3 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-bidder to participate in the public auction and complete the purchase in the event of successful bid. 2.4 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. 2.5 Any person who has not reached the age of 18 (minor) or a bankrupt shall not be permitted to participate in the auction proceedings either On-site bidder or E-bidding.