Terms and Regulations
CAR AND MOTORCYCLE AUCTION'S DEPOSIT STRUCTURE
|PURCHASE PRICE||DEPOSIT REQUIRED|
|RM2,000/- AND BELOW||FULL PAYMENT OF PURCHASE PRICE & BUYER'S PREMIUM AT RM550 (Car) or RM270 (Motorcycle)|
|RM2,001/- TO RM100,000/-||DEPOSIT RM1,000/- and BUYER'S PREMIUM AT RM550 (Car) or RM270 (Motorcycle).|
|RM100,001- AND ABOVE||A SUM OF EQUIVALENT TO RM5,000.00 or 10% OF THE BIDDING PRICE AND BUYER'S PREMIUM AT RM550 (Car) or RM270 (Motorcycle).|
- DEPOSIT ON EACH LOT AND BUYER'S PREMIUM MUST BE PAID BY CASH/BANK DRAFT IN FAVOUR OF FOCAL PARK SDN. BHD. IMMEDIATELY ON THE FALL OF THE AUCTIONEER'S HAMMER.
- THE BALANCE PURCHASE PRICE MUST BE PAID IN CASH/BANK DRAFT/TELEGRAPHIC TRANSFER IN FAVOUR OF FOCAL PARK SDN. BHD. (OR THE LEGAL OWNER WHERE APPLICABLE) WITHIN FIVE (5) DAYS AFTER THE DATE OF PUBLIC AUCTION SALE.
- ALL VEHICLES OFFERED FOR SALE ARE "AS SEEN" AND ON "AS IS WHERE IS" BASIS AT THE BUYER'S RISK.
Note: The above struture is merly a guideline and reference only!
Every bank has its own terms and conditions to be announced during auction.
SPECIAL TERMS & CONDITIONS
- Bidders must be registered on the authorized bidder's supplied by Focal Park Sdn. Bhd.
- A deposit of RM1,000/- and the buyer's premium of RM550.00 (Car) or RM270.00 (Motorcycle) must be paid strictly by Cash or Bank Draft in favour of Focal Park Sdn. Bhd. immediately on the fall of the hammer by the Auctioneer to the successful bidders for every vehicle.
- A deposit for a sum equivalent to RM5,000.00 or 10% of the Bidding Price of RM100,001/- and above, and the buyer's premium of RM550 (car) or RM270 (Motorcycle) must be paid strictly by Cash or Bank Draft in favour of Focal Park Sdn. Bhd. immediately on the fall of the hammer by the Auctioneer to the successful bidder for every vehicle.
- The Balance Purchase Price to be paid strictly by Cash, Bank Draft, Telegraphic Transfer in favour of Focal Park Sdn. Bhd. (or the Legal Owner where applicable) or Letter of Approval from Finance Company or Bank for refinancing within five (5) days from the auction date.
- We reserve the right to withdraw any vehicle for Auction before the fall of the Auctioneer's Hammer.
- For motorcycle, every bid is RM100/-
- For Reserved Price below RM50,000/-, every bid is RM200/-.
- For Reserved Price between RM50,001/- to RM100,000/-, every bid is RM500/-.
- For Reserved Price RM100,001/- and above, every bid is RM1,000/-.
- Be sure to inspect the vehicles before bidding and no inspection is allowed during or after the auction.
- All intending bidders are advised to inspect the conditions of the vehicles and conduct their own JPJ, PDRM (police search) prior to the auction sale.
- No document is given for vehicles cut & joint.
- If, Puspakom VR 1 inspection is not done, successful bidder has to arrange for Puspakom VR 1 inspection on their own cost and risk.
- NO REFUND shall be intertained for Puspakom VR 1 "Lulus Bersyarat", VR 1 "Gagal" due to engine changed and vehicles "Blacklisted" by the relevant authorities.
TOYOTA CAPITAL -Administrative fees of RM40 will be charged by Toyota Capital (M) Sdn Bhd.
AFFIN BANK -Succesfully bidder of vehicle Affin Bank Berhad MUST pay RM170.00 to conduct Puspakom VR1.
AFFIN BANK-The successful auction price must be fully setted within ten (10) days from the date. Any request for extension on the settlement shall attract penalty charges of RM500.00.
"Hong Leong Bank Berhad have made it compulsory for the successful bidder to sign the Declaration of Source of Funds for successfully bidder vehicles RM25,000.00 and above, this is only applicable for successful bidder who wish to settle the balance purchase price with "CASH TERMS". In the event of a bidder neglecting or failing tp comply with this condition, any deposit paid shall be forfeited and the sucessful bid shall be deem to be null and void. The vehicle thereafter shall be resold by further auction and such resale to be considered as new sale for which the Bank and /or Auctioneer will be entitled to do so"
9.0A Extra refundable security deposit
A. For Malayan Banking Berhad auction artiles with reserve price from RM5,000.00 and below, an extra refundable security deposit of RM1,000.00 ("extra security Deposit") is to be collected together with the amount stated in clause 9.0A from the successful bidder.
B. The Extra Security Deposit will be refunded after the proof of transfer of ownership being so presented to Malayan Banking Berhad.
*All bank charges incurred (if any) to be borne by the bidders!