Terms & Conditions

The Online Auction Terms and Conditions specified herein shall determine the procedures to be used in the "ANW website"under www.anwbid.com and shall apply to all registered "Online Bidders" of "ANW website." The terms "Online Bidders" herein referred to as Bidders who have registered online and deposited their deposit payment by online bank transfer at least one (1) working days before the auction date via "ANW website." The Online Auction shall be conducted at the office of AUCTION NETWORK SOLUTION SDN BHD and/or at any specified auction venue stated in the Proclamation of Sale

 

1.ELIGIBILITY FOR ONLINE BIDDERS
1.1. The minimum age limit for Online Bidders is 18 years and above, sound mind and not an undischarged bankrupt;
1.2. For companies, be incorporated under the laws of Malaysia and not being wound up or in liquidation;
1.3. Online Bidders must have full power and authority to bid and to purchase property and to perform all necessary actions, conditions and matters (including obtaining any necessary consents) in terms of law to enable Online Bidders to participate in the auction and complete the purchase in the event of successful sale.
1.4. Online Bidders eligibility requirements are subject to any restrictions and to any legal provisions of existing Federal and State laws. Foreign nationals or companies are also advised to take note of restrictions applicable on foreign purchase imposed by the relevant authorities.

2.REGISTRATION FOR ONLINE BIDDERS
2.1. Parties interested to register as an Online Bidder must first sign up as a User by log in on to ANW Website.
2.2. Online Bidders only need to register once and this registration shall applies to all future auctions on the ANW W ebsite.
2.3. Online Bidders are responsible for providing all true, current and accurate information upon registration as an Online Bidder.
2.4. The registration of an individual or company as an Online Bidder on the ANW website shall not be construed as approval of eligibility of the intended Online Bidder to conclude the auction sale.
2.5. Online Bidders are solely responsible to identify the property correctly and to ensure that all details, liabilities, encumbrances and description of the property are correct and accurate before bidding online.
2.6. It is the sole and absolute responsibility of all registered Online Bidders at their own costs and expenses, seek and obtain from the Developer and/or the relevant authorities or bodies, all confirmations and/orconsents 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 online 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 Bumiputera or Malay only and/or is a low costproperty, 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 amountsof outstanding service or maintenance charges owing and otherobligations pertaining to the properly and the Online Bidders' eligibility and qualification to purchase the property). Online Bidders shall be deemed to have full knowledge of all of the matters aforesaid. The Assignee, the Assignee's Solicitors, the Auctioneer and ANW 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 Online Bidders in respect of any of the aforesaid.

3.REQUIREMENTS FOR ONLINE BIDDERS
3.1. Online Bidders may browse through the ANW website and select the properties they wish to bid online.
3.2. Online Bidders are required to agree and accept the ANW website Online Auction Terms & Conditions before proceeding with the Online Bidding.
3.3. The Online Auction Terms & Conditions shall be read together with all the Conditions of Sale attached to the Proclamation of Sale which is uploaded on the ANW website and shallbe deemed to have been read and agreed upon by the registered Online Bidders prior to Online Bidding. In the event of any inconsistency between the Online Auction 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.
3.4. For Individual/Joint Online Bidders, the following documents shall be uploaded upon online registration:
3.4.1 Copy of NRIC.(both sides),
3.4.2 Evidence of deposit payment method.
3.5. For Agent acting for Individual/Joint Online Bidders, the following documents shall be uploaded upon online registration:
3.5.1 Copies of Individual/Joint Online Bidder's NRIC.(both sides),
3.5.2 Copy of Agent's NRIC.(both sides),
3.5.3 Copy of authorize Bidding Letter,
3.5.4 Evidence of deposit payment method.
3.6. For Company, the following documents shall be uploaded upon online registration:
3.6.1 Copy of the authorize Online Bidder's NRIC.(both sides),
3.6.2 An authorize Bidding Letter with the Company's Letter Head,
3.6.3 Form 24; Form 44; Form 49 (or its equivalent forms under the Companies Act 2016);
3.6.4 Certified true copy of the company's Memorandum and Articles of Association (M&A),
3.6.5 Board of Director's Resolution,
3.6.6 Evidence of deposit payment method.
3.7. Online Bidders must make deposit payment as required under the Conditions of Sale attached to the Proclamation of Sale, i.e. 10% (ten percent) ofthe reserve price.Payment of the 10% (ten percent) deposit must be made via online bank transfer to MALAYANBANKINGBERHADin favour of AUCTION NETWORK SOLUTION SDN BHDAccount No: 514187357646. Evidence of the transfer must be uploaded and submitted at the time of registration.
3.8. OnlineBidders are required to complete the registration process by submitting the relevant details and uploading therelevant documents including evidence of payment of the 10% deposit onto the ANW website latest by 12 noon, at least one (1) working day before the auction date.
3.9. Registration for Online Bidders shall be subjected to verification and approval by AUCTION NETWORK SOLUTION SDN BHD and subject further to the 10% deposit payment being clearedby the bank. Approval from AUCTION NETWORK SOLUTION SDN BHD may take at least one (1) working day and any improper, incomplete registration or late registration may be rejected at the sole discretion of AUCTION NETWORK SOLUTION SDN BHD, ANW website, its agents and/or representatives shall not bear any responsibilities or assumes any liability in the event that the registration of a prospective Online Bidders is rejected and/or delayed for any reason whatsoever. In the event of the registration is rejected, the 10% (ten percent) 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.
3.10. Upon approval and verification by AUCTION NETWORK SOLUTION SDN BHD and subject to the 10% (ten percent) deposit payment being cleared by the bank,registered Online Bidders will receive a secured hyperlinkvia E-mail which allows the registered Online Bidders to bid online for their intended property on the auction date.
3.11. Online Bidding may be done via a computer, smart phone or any device with internet connection.
3.12. Registered Online Bidders who have paid the 10% (ten percent) deposit, may withdraw from the auction by e-mailing the withdrawal request to AUCTION NETWORK SOLUTION SDN BHD before the auction date and the 10% (ten percent) 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.

4.ONLINE BIDDING PROCEDURES
4.1. Online Bidding shall generally commence based on the sequence of the lot being shown on the bidding website. However the Auctioneer has the right to vary this sequence without having to give prior notice to registered Online Bidders.
4.2. It shall be the responsibility of all registered Online Bidders to log in through the ANW website at least 15 (fifteen) minutes before the auction time on the date of auction and to wait for their turn to bid online for the property lot in which they have registered.
4.3. The auction shall commence after the countdown of 5,4,3,2,1 and when a flash message stating "Auction Started. Enter your bid now" is displayed.
4.4. Registered Online Bidders shall start bidding online by pressing the "BID button" (for the 1st bid) and the bidding amount stated button for the subsequent bids using their computer, smart phone or any device with internet connection. Each bid will be call for 3 times "First Calling", "Second Calling" and "Last Calling". Bidders are advice to make their bids early and not wait until the "Last Calling"
4.5. In the event, there is only one (1) registered bidder and no bid is enter by the registered bidder, the auction shall be aborted.
4.6. In the event, there is more than one (1) registered bidder, the Auctioneer has the discretion to set a new reserve price and the same will appear on the bidding website prior to the commencement of the auction and if no bid is enter by the registered bidders, the auction shall be aborted. The reference to a "bidder" herein includes registered Online Bidders as well as Onsite Bidders.
4.7. Any bid once entered by the registered Online Bidders shall be binding upon the registered Online Bidders and the bid shall not be withdrawn or retracted in any manner whatsoever.
4.8. When the bidding website displays "No more Bids", no further bids shall be accepted by the Auctioneer whether Online or Onsite and the bidder with the highest bid shallbe declared as the successful Purchaser upon the fall of the hammer. The reference to a "bidder" herein includes registered Online Bidders as well as Onsite Bidders.
4.9. The successful and unsuccessful registered Online Bidders shall be notified by E-mail notification.
4.10 Unsuccessful registered Online Bidders shall have the deposit refunded to the same bank account from which the deposit transfer was made within two (2) working days from the date of auction
4.11. In the event of any dispute as to any bid or any dispute arising prior to, during or resulting from the auction sale after the fall of the hammer, the Auctioneer may at his own option forthwith determine the dispute or put the property up again for sale or put the property at the last undisputed bid and/or in the event the auction is deferred due to technical reasons, clarification, disruption or unforeseen circumstances, the Auctioneer may at his discretion decide to pause, restart, postpone and/or withdraw the property from the auction sale. The registered Online Bidders will be notified of this on the bidding website.
4.12. The Assignee shall be and is hereby at liberty to postpone, adjourn, stand down, call off, withdraw or vacate the auction sale at any time before the fall of hammer with or without notice and without having to provide any reason(s) or ground(s) whatsoever. The registered Online Bidders will be notified of this on the webpage.
4.13. The information shown and/or prompted on the screen handled by the ANW website regarding the auction, particularly to the increment of bidding price during the bidding process and the declaration of the successful bidder shall be binding on all registered Online Bidders.
4.14. The decision of the Auctioneer shall be final and conclusive.

5.POST PUBLIC AUCTION
5.1. Registered Online Bidders who successfully bids for the property shall and undertake to sign the Memorandum of Contract and pay the differential sum (if any) between the10% (ten percent) of the purchase price and the 10% (ten percent) deposit paid under Clause 3.7 above at the office of AUCTION NETWORK SOLUTION SDN BHD within 3 working days from the date of auction, failing which the 10% (ten percent) deposit paid shall be forfeited to the Assignee and the sale shall be deemed cancelled/terminated and the property may be put up for subsequent auction without further notice to the said registered Online Bidder. AUCTION NETWORK SOLUTION SDN BHD shall send the Memorandum of Contract for stamping and thereafter forward the same together with the 10% (ten percent) deposit paid under Clause 3.7 above and the differential sum paid under this clause (if any) to the Assignee.
5.2. Any successful registered Online Bidder who is unable to attend to sign the Memorandum of Contract at the office of AUCTION NETWORK SOLUTION SDN BHD may do so by authorizing his/her agent to execute the same on his/her behalf by furnishing the following documents to AUCTION NETWORK SOLUTION SDN BHD.
5.2.1. Copy of the agent's NRIC. (front and back); and
5.2.2. Letter of Authorization.
5.3. The authorized agent shall provide the Letter of Authorization signed by the successful registered Online Bidder together with a copy of his/her identity card to AUCTION NETWORK SOLUTION SDN BHD
5.4. In the event if there is inconsistency between the personal details and documents uploaded in the ANW website and the actual documents produced by the successful registered Online Bidder/authorized agent,AUCTION NETWORK SOLUTION SDN BHD shall have the right to refuse the successful registered Online Bidder/authorized agent from signing the Memorandum of Contract and may at their discretion cancel the sale and proceed to put the property up for a new auction and the 10% (ten percent) deposit paid shall be forfeited by the Assignee.
5.5. The Memorandum of Contract, upon being signed by the Assignee's Solicitor, the Auctioneer and the successful registered Online Bidder/authorized agent shall be a conclusive evidence for the sale of the property to the successful registered Online Bidder.5.6. The successful registered Online Bidder shall settle the balance purchase price within ninety (90) days from the date of successful auction.

6.OTHER APPLICABLE TERMS & CONDITIONS
6.1. All registered Online Bidders at ANW website shall undertake to fully comply with these Online Auction Terms and Conditions herein. Further, all successful registered OnlineBidders shall also be bound by the terms and conditions of the Conditions of Sale attached to the Proclamation of Sale.
6.2. The Assignee, the Assignee's Solicitors and AUCTION NETWORK SOLUTION SDN BHD shall from time to time has the absolute discretion to add to, modify, or delete any terms and conditions during or after the auction without having to give any prior notice to the registered Online Bidders and any such additions, modifications or deletions shall be binding on the registered Online Bidders and the parties concerned.
6.3. Registered Online Bidders are responsible to ensure that their internet connection is in good condition during the whole process of online auction until conclusion thereof.W eak internet connection may interfere with the bids made online by the registered Online Bidders.
6.4. The Assignee, the Assignee's Solicitors and AUCTION NETWORK SOLUTION SDN BHD or the ANWwebsite shall not be liable for any interruptions, delays, failures, errors, omissions, or loss of informationtransmitted due to the weak internet connection or any online interruptions that may howsoever occur during the process of online auction at ANW website.
6.5. ANW website is owned and operated by AUCTION NETWORK SOLUTION SDN BHD. The registered Online Bidders agrees and accept that AUCTION NETWORK SOLUTION SDN BHD, the Assignee, the Assignee's Solicitors or any of their respective servants or agents shall not be in anyway liable for any claims or loss arising out of the use of the ANWwebsite.

7.APPLICABLE LAW S AND JURISDICTION
7.1. The usage of ANW website together with these Online Auction Terms and Conditions stated herein shall be governed by and construedin accordance with the laws ofMalaysia.
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 publicauction shall subject to the exclusive jurisdiction of the Courts of Malaysia.

8.CONFIDENTIALITY OF INFORMATION
8.1. By accessing this ANW website, the registered Online Bidders acknowledge and agree that AUCTION NETWORK SOLUTION SDN BHD and/orANW website may collect, retain, or disclose the registered Online Bidder's information or any information by the registered Online 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.
8.2. Registered Online Bidders agree to accept all relevant risks when using the services in the ANW website and the Assignee, theAssignee's Solicitors and AUCTION NETWORK SOLUTION SDN BHD or their respective servants or agents shall not be liable for any unauthorized access, claim or any consequential loss or damages suffered as a result thereof.
8.3. Registered Online Bidders accept the responsibility for the confidentiality and use of the secured hyperlinkand not to reveal the secured hyperlinkto anyone at any time and in any event that the secured hyperlinkis disclose to any other person at any time and under any circumstances, whether intentionally or unintentionally, the registered Online Bidders shall take precautions to notify AUCTION NETWORK SOLUTION SDN BHD immediately.
8.4. Registered Online Bidders agrees to comply with all the security precautions related to the usage and protection of the secured hyperlink or generally in respect of the use of this service.

9.INTELLECTUAL PROPERTY
9.1. Any information, contents, materials, documents, details, graphics, files, data, text, images, digital pictures or any visualbeing displayed in the ANW website shall not be used or published either by electronic, mechanical, photocopying, recording or otherwise without the permission from AUCTION NETWORK SOLUTION SDN BHD.
9.2. In the event of any infringementof intellectual property rights under the Online AuctionTerms andConditions herein, AUCTION NETWORK SOLUTION SDN BHD may useany available legal remedies which may include the demand for actual or statutory damages, solicitors' fees and injunctive reliefs.

10.MISCELLANEOUS
10.1. In the event there is any inconsistency, discrepancy, misstatement or error appearing in translations of the particulars and the Online Auction Terms and Conditions to any other language (if any), the Online Auction Terms and Conditions in the English Language version shall prevail