BEFORE AUCTION 4.1 All intended bidder can access to the ESZAM AUCTIONEER SDN BHD website to download the Proclamation of Sale (POS) & Conditions of Sale (COS). By proceeding with E-bidding with ESZAM AUCTIONEER SDN BHD, the E-bidders’ have agreed and accepted the ESZAM AUCTIONEER SDN BHD terms and conditions. Any bid by registered E-bidder shall not be withdrawn once entered.
4.2 All intended bidders can choose either to attend the auction physically (On-site bidder) or by E-bidding. For E-bidding, they can bid online from any places as long as the E-bidder has the device and good internet connection to log in to our ESZAM AUCTIONEER SDN BHD website and click on eZ2Bid button.
4.3 The E-bidder will receive the Bidding Code one (1) day before auction date and link to bid online via email and SMS once ESZAM AUCTIONEER SDN BHD receiving of the deposit.
The Auction Section 2.01. Purpose: Incorporation by Reference of Auction Procedures and Settlement Procedures....
AFTER AUCTION 6.1 Any successful E-bidders shall and undertake to sign the contract of sale and pay the additional 10% for the difference of the purchase price within two (2) working days to ESZAM AUCTIONEER SDN BHD bank account or prepare a bank draft. In the event that the successful E-bidder fail to pay additional deposit, the Bank will forfeit the deposit and the sale will be deemed cancelled/terminated and the property may be put up for subsequent auction without further notice to the said E-bidders.
6.2 The Auctioneer shall send the Memorandum of Sale for stamping and thereafter forward the same together with the deposit paid and the differential sum paid to the Assignee/Bank.
6.3 For stamping of 5 contracts, the successful E-bidders shall transfer RM100.00 to the ESZAM AUCTIONEER SDN BHD bank account or pay by cash when signing the Contract of Sale within two (2) working days from the Auction day.
THE AUCTIONEER 2.1 The Auctioneer conducting the auction sale of property shall be as named in the Proclamation of Sale and/or an Auctioneer so appointed/engaged by the Auctioneer or the Auctioneer’s Company (“Licensed Auctioneer”).
2.2 The Auctioneer shall not in any manner or for any reason whatsoever be deemed to be an agent of the Assignee of the property, MBSB BANK BERHAD.
Prior To The Auction Sale a. The Assignee reserves the absolute right at any time to vary, alter, amend or add to the particulars and/or these Conditions of Sale.
b. The bidders shall register as E-Bidders (as defined in the Auctioneer’s Online Terms and Conditions) and comply with all the requirements as provided in the Auctioneer’s Online Terms and Conditions.
c. All intending bidders shall be required to scan and upload the following document(s) to the Auctioneer’s Website in order to verify their identities during the registration stage as the “E-Bidders”,:
(i) For individual bidders, a color copy of their identity cards (front and back); or
(ii) For non-individual bidders, 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 bidders in compliance with Companies Act 2016 and a duly signed Board of Directors’ Resolution) failing which they shall not be entitled to bid.
d. Any person intending to bid on behalf of another individual, company, society, firm or body corporate shall upload / fax / e-mail the following documents to the Auctioneer’s Website / Auctioneer prior to the auction, the following documents:
(i) an authority letter signed by the principal on whose behalf the bidder is bidding and containing the principal’s full name, identity and address and stating that he/she is acting on behalf of the said individual, company, society, firm or body corporate and is authorised to sign all the necessary documents (“Letter of Authority”); and
(ii) for individual, a colour copy of the principal’s NRIC (front and back); or
(iii) for non-individual, 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 Directors’ Resolution) of the principal failing which the bidder shall be deemed to contract in his own name and not as an agent for another.
e. All intending bidders (with the exception of the Assignee) shall deposit with the Auctioneer a sum equivalent to 10% of the fixed reserve price for the Property by way of bank draft or cashier’s order crossed “A/C PAYEE ONLY” made payable to HONG XXXXX BANK BERHAD/RATU ERAT HOLDINGS SDN BHD or remit the same through online banking transfer to the bank account designated by the Auctioneer, ONE (1)
Auction The one-time auction conducted by the Trustee, as described in Section 9.01(b) hereof.
ONLINE PUBLIC AUCTION PROCESS Bidders may browse through the PAH Website and select the properties they wish to bid online.
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 3.5 above (“differential sum”) at the office of the Auctioneer within same day 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 3.5 above and the differential sum paid under this clause (If any) to the Assignee Bank.
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 EHSAN AUCTIONEERS SDN.
RESERVE PRICE AND BIDDING AT AUCTION CONDITIONS OF SALE
1.1 This sale is made by AmBank (M) Berhad [196901000166 (8515-D)][formerly known as AmFinance Berhad](“Assignee/Bank”) in exercise of the rights and powers conferred upon the Assignee/Bank pursuant to the Facility Agreement, Deed Of Assignment and Power Of Attorney all dated the 19th October, 2017 executed by Todi Ashish (Assignor/Borrower”) in favour of the Assignee/Bank subject to all conditions and category of land use, express or implied or imposed upon or relating to or affecting the property (“Property”) and shall further subject to the reserve price (“Reserve Price”) and the Conditions of Sale as appearing in the Proclamation of Sale.
1.2 Subject to the provisions of Clause 5 below the highest bidder for the Property described in the Proclamation of Sale if so allowed by the Auctioneer shall be the Purchaser (“Purchaser”) thereof and the Auctioneer shall have the right to reject any bid. If any dispute shall arise as to any bidding, the Property shall be at the option of the Auctioneer be put up again for sale at the last undisputed bid or the Auctioneer may decide on the dispute and the decision of the Auctioneer on all matters not provided for in this Conditions of Sale shall be final and binding in all respects if such decision is made during the course of conducting the auction on the auction date.
1.3 No bid shall be less than the previous bid and each bid shall be increased by a minimum amount to be determined by the Auctioneer at the time the Property is put up for sale and no bidding shall be withdrawn or retracted. Should there be any withdrawal or retraction from the registered bidder(s) or the highest bidder before or after the fall of the hammer, the bidding deposit (“Bidding Deposit”) shall be forfeited to the Assignee/Bank and the Property shall be at the option of the Auctioneer be put up for sale again or the Auctioneer may decide to adjourn the auction sale to another date.
1.4 In the event the subject matter offered for auction comprises more than one (1) property, the Auctioneer shall have the right to: -
(a) determine or vary the order of sale;
(b) offer the properties for sale either individually or en bloc or in any combination/manner as determined by the Auctioneer; and/or
(c) withdraw any of the properties from the sale.
CONDUCT OF THE AUCTION Conduct of the auction and increments of bidding are at the discretion of the Auctioneer. The Auctioneer's decision is final in the event of a dispute over any matter. The Auctioneer reserves the right to accept bids in any increments he deems to be in the best interest of his client, and reserves the right to waive any previously announced requirements. Bid rigging and bid suppression schemes are violations of the Xxxxxxx Antitrust Act and are deemed illegal and punishable as a federal felony.
