The policies posted on our sites set out the terms of your access and use of Pickles Asia Sdn Bhd’s services.
- Auction Terms and Conditions, including registration, bidding, winning, ownership transfers, “AS IS” condition, and refunds shall be governed by https://www.pickles.my/terms.
- Seller Terms and Conditions shall be governed by https://www.pickles.my/seller-terms-and-conditions.
AUCTION TERMS AND CONDITIONS
1.1 The terms and phrases used in these terms and conditions shall bear the meaning given to them in the Glossary of Terms set forth at the end of this document.
2.1 All Parties participating in any Auction shall be bound by the terms and conditions set out hereunder. These terms and conditions shall be governed and construed in accordance with the laws of Malaysia.
2.2 Any Auction may be carried out as an Onsite Auction, an Online Auction, or a Mixed Auction, as determined by Pickles Asia.
2.3 Members present at an Auction Premise and intending to participate in the Auction may, at the discretion of Pickles Asia, be required to participate in the auction via an Online Platform or may alternatively be issued with a Bidding Card.
2.5 In the event Pickles Asia decides to carry out a Mixed Auction, the Members may participate in the Auction either by way of Onsite Bidding or Online Bidding, as Pickles Asia may determine.
2.6 By participating in an Auction, the Members hereby agree and accept that:
(a) where Onsite Auctions are concerned, the Members have entered the Auction Premises at their own risks. In the event Pickles Asia engages a third party to provide the Auction Premises, Pickles Asia shall not be held liable for any personal injury, death, loss, damages or liability that any Party may suffer when participating in such Auctions at the third party Auction Premises;
(b) the valuation of each Lot pursuant to the Auction is made by Members on their own independent judgment;
(c) vehicle registration numbers are not included in any of the Lots sold;
(d) they are participating in the auction of their own free will; and
(e) they have read, understood and agreed to be bound by these terms and conditions. These terms and conditions wherever mentioned herein, shall be deemed to be of essence.
2.7 All Auctions will be conducted by Pickles Asia via an Auctioneer of its choice and Pickles Asia shall:
(a) for Onsite Auctions, have the absolute discretion to refuse the admission or attendance of any person(s) in or on the premises of the Onsite Auction, including any Member;
(b) for Online Auctions, have the absolute discretion to refuse any participation in the Online Bidding, place restrictions on interactions or deny access of any person(s), including any of the Parties, to the Online Platform(s);
(c) be the sole arbiter in all cases of dispute and any decision(s) made by Pickles Asia shall be final and binding on the Parties;
(d) be at liberty to postpone, call off or adjourn any Auction at any material time without having to provide any reasons or grounds whatsoever and such decision shall not be questioned in any court of law or arbitral tribunal;
(e) in the event that a discovery is made through any means that there has been any fraud or any misrepresentation of any Technical Specification, Pickles Asia shall have the right to cancel or cause any sale and/or transaction in respect of the relevant Lot to be void (even if the Purchase Price has been paid in full).
3. PRE-AUCTION REGISTRATION
3.1 All persons must first register themselves as a Member with Pickles Asia in order to be eligible to participate in any Auctions.
(a) The application to register as a Member by one of the following means:
i. registering physically at the offices of Pickles Asia;
ii. registering physically at the Auction Premises prior to commencement of any Auction; or
iii. registering online via the Pickles Asia Auctions mobile app.
(b) All information and supporting documentation including (but not limited to) copies of the national registration identity card (if Malaysian) or valid passport (if non- Malaysian) requested by Pickles Asia for such person to be registered as a Member must be submitted to Pickles Asia.
(c) A person who has submitted an application to become a Member but has not yet been approved and registered as a Member by Pickles Asia shall be “Pending Member”
(d) A Pending Member may not actively participate in any Auction until their status is changed to “Member”.
3.2 For Onsite Bidding:
(a) on the day of Auction, all Members intending to participate in the Auction are required to confirm their attendance at Pickles Asia’s check-in counter on the Auction Premises, at which point such Members must produce their original national registration identity card (if Malaysian) or original passport (if non-Malaysian) as proof of being a Member; and
(b) participation of any Party in any Auction is at Pickles Asia’s sole discretion and Pickles Asia may refuse to allow any Party onto the Auction Premises and/or allow any Party to participate in Online Bidding for any Auction without assigning any reason whatsoever.
3.3 For Online Bidding, Members are required to log into their membership account on the Online Platforms for them to participate in the Auction.
3.4 If a Member intends to place a Bid on behalf of a Principal, such Member will be required to provide a duly executed letter of authorisation from the Principal (in the form provided by Pickles Asia) to Pickles Asia prior to the commencement of the Auction.
4. MINIMUM BALANCES AND DEPOSITS
4.1 Information on the Deposits, Seller Deposit and Buyer’s Premium payable for each lot may be accessed at the Fee Schedule https://www.pickles.my/fees.
4.2 Online Bidding:
(a) Every Member who intends to submit a Bid shall have sufficient Account Balance to cover the Deposit for each Lot such member intends to Bid for.
(b) No Bid for a Lot shall be capable of being made by a Member unless the Account Balance of such Member is at least equal to the Deposit for the particular Lot.
(c) Where a Bidder has cast the winning Bid, such Bidder becomes the “Buyer” of the Lot and for each successful Lot won, the Deposit for that Lot shall be automatically deducted from the Buyer’s Account Balance and will be used to:
(i) pay the Buyer’s Premium for such Lot;
(ii) pay the Seller Deposit for such Lot; and
(iii) pay the Balance Purchase Price for such Lot or any part thereof (where the Deposit is greater than the Buyer’s Premium and Seller Deposit)
(d) No account credit shall be deducted from a Bidder’s Account Balance in the event that the Bidder has not cast the winning Bid for such Lot.
(e) The Member expressly agrees that no interest shall be earned on any Account Balance.
4.3 Onsite Bidding:
(a) A Member participating by way of Onsite Bidding shall only be permitted to submit a Bid for a Lot where, prior to the commencement of any Auction, the said Member has made payment of a sum equivalent to or greater than the Deposit(s) for such Lot.
(b) Payment may be done via cash, credit card or online banking payable to Pickles Asia. (Cheques may be accepted on a case by case basis and at the sole discretion of Pickles Asia).
(c) Where a Bidder has cast the winning Bid, such Bidder becomes the “Buyer” of the Lot and for each successful Lot won, the sum of money paid pursuant to Clause 4.3(a) of these Terms and Conditions will be used to:
(i) pay the Buyer’s Premium for such Lot;
(ii) pay the Seller Deposit; and
(iii) pay the Balance Purchase Price or any part thereof (where the Deposit is greater than the Buyer’s Premium and Seller Deposit)
(d) Any balance of monies paid by a Member pursuant to Clause 4.3(a) of these Terms and Conditions will, at the request of the Member, be refunded to the Member. Where payment was paid by the Member in cash or via credit card, the refund will be processed and made on the same day whenever possible. Otherwise, Pickles Asia shall use its best endeavours to process and refund to the Member within three (3) Business Days in the same manner the monies were first paid to Pickles Asia. In the event that payment was paid by the Member partly in cash and partly via credit card and/or bank transfer, Pickles Asia may determine the manner in which the refund is paid to the Member at its sole discretion. The Member expressly agrees that no interest shall be earned on any monies paid by a Member to Pickles Asia pursuant to Clause 4.3(a) of these Terms and Conditions.
5. BIDDING PROCESS
5.1 Pickles Asia has the absolute right to regulate the bidding process in relation to the Auction and has the right to stipulate any rules and regulations pertaining to any part of the Auction process. Pickles Asia has the right to refuse any bids which do not, in the opinion of Pickles Asia, comply with the terms stated herein or any of the rules or regulations stipulated by Pickles Asia. A right to bid on behalf of the seller is reserved.
5.2 During the Auction, the Lots will be displayed on a screen (and in the Online Platforms, on the screen of the Bidder’s device) in accordance with their Lot numbers in ascending order. Other information which may be displayed include but is not limited to the following:
(a) the Lot number;
(b) a picture(s) of the Lot together with its inspection report (where applicable);
(c) the make, model, year of manufacture and odometer reading of the Lot (where applicable);
(d) the current location of the Lot;
(e) the grading of the Lot;
(f) the estimated retail price of the Lot;
(g) the current bid price of the Lot;
(h) the current legal owner of the Lot;
(i) any special terms or conditions on sale applied by the owner;
(j) whether the Lot is repossessed, from a private seller, dealer or corporation;
(k) whether the Lot is a scrap or wreck (where applicable);
(l) whether the Lot identification numbers, including engine and chassis have been tampered with or are illegible (where applicable); and
(m)whether the Lot has passed any government road worthiness inspections (where applicable).
5.3 The estimated retail price stated in Clause 5.2(f) above is in no way a definitive assessment of the actual retail value of the Lot which may differ due to external factors such as, but not limited to the physical condition of the Lot. Any reliance on the estimated retail price of the Lot shall be at the Member’s own risk.
5.4 Bids are to be submitted either by the raising of a Bidding Card by Bidders or by clicking on the [“BID”] icon on the Online Platform . Price increments per bid will vary and are at the sole discretion of Pickles Asia. No other forms of bidding such as shouting, hand-raising etc. will be accepted.
5.5 The last Bidder (as recorded in Pickles Asia’s database) with the highest bidding price for the Lot will become the successful Buyer of the Lot and his winning Bid shall be the Purchase Price.
5.6 At the end of every winning Bid on a Lot, the Auction will move on to the next Lot and the same process stated in Clauses 5.4 and 5.5 will be repeated.
5.7 In an Auction where Online Bidding is permitted, Bidders may conduct pre-bidding via the Online Platforms prior to the commencement of the Auction. In the event there are no other Bidders for that particular Lot or that there are no higher bids submitted during the Auction, the pre-bidding Bidder will become the successful Buyer of the Lot and the Buyer is deemed to have voluntarily entered into a Transaction with the Seller in respect of his winning Bid.
6. SUCCESSFULLY BIDDED LOTS
6.1 At the conclusion of the Auction, the Buyer will be required to execute and deliver to Pickles Asia a Memorandum of Contract for the purchase of the Lot successfully bidded for:
(a) where the Buyer has participated in an Onsite Auction or by way of Onsite Bidding, immediately after the conclusion of the Auction; or
(b) where the Buyer has participated by way of Online Bidding other than while he is physically present at an Onsite Auction, by the next Business Day.
6.2 The Balance Purchase Price for all successfully bidded Lots shall be paid in full by the Buyer to Pickles Asia within the Payment Period and on the terms as stipulated by the Seller’s Terms or seven (7) Calendar Days.
6.3 Once full payment of the Balance Purchase Price for all successfully bidded Lots has been made and subject to the Seller’s Terms, the Seller may provide a Release Letter to the Buyer. Except where the Buyer has appointed Pickles Asia to provide assistance and facilitate the transfer process for the Lot on behalf of the Buyer, the Buyer has one (1) Business Day from the issuance of the Release Letter to resolve any outstanding fees and or charges with Pickles Asia (if any) and collect and remove the successfully purchased Lot(s) from Pickles Asia’s store yard (or such other premises to be determined).
6.3A Where a Buyer has successfully bidded for multiple Lots but has only made full payment of the Balance Purchase Price for some but not all of those Lots, Pickles Asia may at its complete discretion decline to release any of the successfully bidded Lots from Pickles Asia’s store yard until full payment of the Balance Purchase Price for all of the successfully bidded Lots of the Buyer has been satisfied provided always that Pickles Asia may at its discretion permit the release of any individual Lot which has been paid in full from Pickles Asia’s store yard (or such other premises to where the Lot is stored), without prejudice to its rights or any other remedies it may have in respect of any Lot.
6.4 Default of any of the payments of Balance Purchase Price for a particular Lot and/or the failure to execute the “Memorandum of Contract” for a particular Lot within the period as stipulated in Clause 6.1 above (each constituting a “Forfeited Transaction” and collectively “Forfeited Transactions”) shall render the Transaction void. In the case of such Forfeited Transaction(s), the Seller may elect to put the Lot up for re-auction, and the defaulting Buyer shall be liable to the Seller for any costs of any such re-auction. Where the defaulting Buyer had successfully bidded for more than one Lot but has only made payment of the Balance Purchase Price for some but not all of the successfully bidded Lots within the prescribed timeframe and/or the Buyer has failed to execute the “Memorandum of Contract” in respect of one of more of the successfully bidded Lots, then, save where Pickles decides otherwise in its full discretion, each of the other successfully bidded Lots shall also be deemed to be Forfeited Transactions.
6.5 For each Forfeited Transaction, the Deposit shall be forfeited in favour of Pickles Asia and Pickles Asia is entitled to deduct the Forfeiture Sum from the credit remaining in the Buyer’s membership account. In the event the available amount in the Buyer’s account is insufficient to offset the amount owed by the Buyer to Pickles Asia in relation to the Forfeiture Sum, the Buyer’s account may be suspended until such time as the Buyer has fully paid the outstanding amount owed via cash, credit card or online banking to Pickles Asia. All Forfeiture Sums relating to a Forfeited Transaction must be paid within ten (10) days of the date that the Transaction became a Forfeited Transaction, failing which Forfeiture Interest shall accrue until the entirety of the Forfeiture Sum has been fully paid.
6.6 All Lots successfully won at an Auction shall be stored by or on behalf of Pickles Asia from the date of the Transaction up until the full payment of the Purchase Price has been made (“Interim Period”), whereupon the ownership of the Lot shall be deemed passed to the Buyer. After the expiry of the Interim Period, Pickles Asia shall not be liable for any loss or damage to the Lots notwithstanding that such Lots remain in the custody of Pickles Asia.
6.7 The Buyer agrees (i) to collect the Lot no later than twenty-one (21) calendar days from the conclusion of the auction (“Collection Period”), and (ii) that for so long as the Lot remains in Pickles Asia’s possession/storage, the Buyer agrees to grant a lien over the Lot in favour of Pickles Asia as continuing security for amounts owing at the time or in the future in respect of the Lot.
6.7A. The Buyer further agrees that:
(a) Storage Charges of RM50 per Lot shall apply for each day the Lot remains in Pickles Asia’s possession/storage after the seventh (7th) calendar day from the conclusion of the auction; and
(b) if the Buyer fails to collect the Lot within the Collection Period, Pickles Asia shall have all the rights of a pawnee under the Malaysian Contracts Act 1950 in respect of the said Lot, including but not limited to the right to sell the Lot at a re-auction. The proceeds of the re-auction shall be used to set off against any accrued Storage Charges owing to Pickles Asia and all other costs and expenses incurred or ancillary to the re-Auction arising from the Buyer’s default, and the balance shall be deposited into the Buyer’s Member’s Account.
6.8 After the expiry of the Interim Period, Pickles Asia shall not be liable for any loss or damage to the Lots notwithstanding that such Lots remain in the custody of Pickles Asia.
6.9 The Buyer acknowledges that, as the Lots do not include the vehicle registration numbers, access to the vehicle(s) may be required by Jabatan Pengangkutan Jalan Malaysia for inspection at any time during normal working hours, and the Buyer hereby agrees and consents to such access being granted and shall take all reasonable endeavours to grant such access to the officers and representatives of Jabatan Pengangkutan Malaysia at the location which such acquired Lots are located.
7. GOODS AND SERVICES TAX
7.1 GST of 0% (or such other rate as may from time to time be imposed by the relevant authority) will be chargeable on all goods and services rendered. Please note that all prices indicated in these Terms and Conditions are inclusive of the 0% GST chargeable unless otherwise provided.
8. TRANSFER OF OWNERSHIP & COLLECTION OF LOT
8.1 The Buyer shall be entitled to collect the Lot(s) from Pickles Asia immediately upon issuance of the Release Letter in respect of such Lot(s). Upon delivery of a valid Release Letter to the designated Pickles Asia office, Pickles Asia shall issue a gate pass for the relevant Lot(s) to the Buyer which shall permit the Buyer to remove the Lot(s) from Pickles Asia’s store yard (or such other premises where the Lot(s) is located).
8.2 Except where Pickles Asia has been appointed to provide assistance and facilitate the transfer process on behalf of the Buyer, the Buyer shall collect and remove the relevant Lot from Pickles Asia’s store yard (or such other premises where the Lot is located) within one (1) Business Day after the date of the Release Letter, failing which Pickles Asia shall be entitled to charge the Storage Charges in accordance with Clause 6.7A.
8.3 Upon full settlement of the Purchase Price, the Seller shall provide the Buyer with a full set of the Transfer Documents.
8.4 Except in respect of the transfer of vehicle registration numbers, it is the Buyer’s obligation to procure the transfer of ownership and registration of the successfully bidded Lots from the Seller to the Buyer or the Principal (as the case may be) and any Transfer Costs are to be borne by the Buyer or the Principal (as the case may be). Pickles Asia shall in no event be obliged to provide the Buyer or Principal with an estimate of such Transfer Costs and should Pickles Asia be required to bear any of these Transfer Costs, the Buyer shall reimburse Pickles Asia in full. Notwithstanding the foregoing, Pickles Asia may provide assistance and facilitate the transfer process on behalf of the Buyer including facilitating the inspection of any vehicles by PUSPAKOM for a fee to be agreed separately. For the avoidance of doubt, Pickles Asia shall not be held liable for any loss or damage caused to the Lots during the process of transfer of ownership.
8.5 As the registration numbers do not form part of the Lot, any costs, fees, and expenses relating to the transfer of vehicle registration numbers (including any taxes, duties, levies or interest thereon) shall be borne by the previous owner of the vehicle and shall not in any event be borne by Pickles Asia.
8.6 Collection of Lot:
(a) the Buyer shall arrange for the collection of the Lot at the Buyer’s sole costs and risk;
(b) the Buyer shall adduce a copy of the executed “Memorandum of Contract” and Release Letter (if issued) at the time of collection of the Lot for verification purposes;
(c) if a Buyer wishes to authorise a representative to collect the Lot on its behalf, an authorisation letter from the Buyer will be required; and
(d) the Buyer shall indemnify Pickles Asia and the Seller from all claims, damages, losses and proceedings for all summonses, fines and penalties payable to the relevant authorities on the Lot after taking delivery of the Lot, until the successful transfer of ownership of the Lot to the Buyer.
9. CONDITION OF LOT
9.1 The Lots are sold strictly on an “AS IS” basis, without any warranty whatsoever, save and except that:
(a) the Seller has title to the Lot;
(b) the Lot will be free from encumbrances at the time of transfer of ownership to the successful Buyer; and
(c) any other warranty specifically provided by the Seller in respect of his Lot.
9.2 For the avoidance of doubt, any warranties provided in respect of a Lot are provided by the Sellers and not by Pickles Asia except where Pickles Asia is the Seller.
9.3 The Inspection Report of the Lot is intended solely as a visual evaluation of the components inspected at the time and date of inspection of the Lot by Pickles Asia and is limited to the scope stated therein.
9.4 There may be potential failures that are internal to the engine, transmission, electrical system or any other components of the Lot, which may not be evident at the time of inspection and therefore no implied or expressed warranties or guarantees of any kind are purported to be given by Pickles Asia in connection with the Inspection Report.
9.5 The Inspection Report is to provide all potential Bidders with an overview of the general condition of the Lot only and shall not be taken as a definitive assessment of the Lot’s condition. Pickles Asia shall not be held liable for any omissions or failures on their part when producing the Inspection Report even in the case of negligence on the part of Pickles Asia.
9.6 Prior to the commencement of the Auction, all Bidders are reminded to:
(a) inspect the Lots at their own costs and expense at the designated time and venue to be provided by Pickles Asia;
(b) make independent verifications as to whether any summons were issued by the authorities in respect of the Lots;
(c) make independent verification with the authorities as to the accuracy of the details, identification marks, make, type, model, version, year of manufacture and other particulars of the Lots; so as to satisfy the Bidder completely as to the condition and status of the Lots.
9.7 All implied terms and warranties (including but not limited to merchantability, roadworthiness, fitness for purpose etc.) that may arise by implication of law pursuant to the auction of Lots as stated herein shall be excluded. All implied terms and warranties under the Sale of Goods Act 1957 (as may be amended from time to time) (“SOGA”) shall be excluded pursuant to Section 62 of SOGA. Pickles Asia will not be held liable for breach of any implied terms and warranties.
9.8 An item classified as scrap cannot be re-registered with JPJ and is not allowed to be in the road by relevant authorities. Please also see each sellers terms & conditions.
10. NO REFUND
10.1 The Buyer shall not be entitled to claim for a refund from Pickles Asia under any circumstances whatsoever after full settlement of the Purchase Price. Any claims or legal recourse including but not limited to refunds, shall be brought directly against the Sellers. Pickles Asia shall not be held liable for any claims brought by the Buyers after full settlement of the Purchase Price.
11.1 The Buyer agrees to indemnify Pickles Asia and the Auctioneers from and against all suits, actions, demands, damages, losses, liabilities (whether criminal or civil), expenses and cost whatsoever arising under any laws of Malaysia where the same arises by reason of injury to or the death of any person or damage to property of any person, firm or corporation in any manner resulting from any act, neglect or default of the Buyer or its agents, employees, licensees or customers from the date of the Transaction up to the date of successful transfer of ownership of the Lot to the Buyer.
11.2 Pickles Asia shall be entitled to deduct from the Account Balance any and all outstanding costs, damages, or expenses owing to Pickles Asia without notice if, in our sole judgment you breach any Terms and Conditions and/or agreement(s) with Pickles Asia.
12. LIMITATION OF LIABILITY
12.1 Notwithstanding anything contained herein, the liability of Pickles Asia in relation to its obligations pursuant to the whole Auction process (which includes its pre-Auction and post-Auction obligations), shall be limited only to an amount equivalent to the Buyer’s Premium (in the case of any liability to the Buyer).
13. PERSONAL DATA
14.2 The auction and sale of all Lots may be further subject to any additional terms and conditions stipulated by the relevant Seller’s Terms. All Members are strongly advised to check if any such additional terms and conditions apply prior to placing any Bids in any Auction and/or for a Lot.
14.3 Any failure by Pickles Asia to enforce at any time or for any period any one or more of the terms or conditions shall not be deemed a waiver of them or of the right at any time subsequently to enforce all terms and conditions stated herein.
14.4 In the event any part of these Terms and Conditions is declared by any judicial or other competent authority to be void, voidable, illegal or otherwise unenforceable, they shall be void only to that extent and the remaining provisions in these Terms and Conditions shall remain in full force and effect.
14.5 These terms and conditions shall be governed by the laws of Malaysia and any proceedings arising out of or in connection with the clauses set forth in this document may only be brought in a court of competent jurisdiction in Malaysia.
14.6 These terms and conditions shall be binding on the heirs, personal and legal representatives, estate, successors-in-title and permitted assigns of Pickles Asia and the Parties.
14.7 Nothing contained in these terms and conditions shall constitute or be deemed to constitute a partnership between the Buyer and Pickles Asia or between the Seller and Pickles Asia, and none of Pickles Asia or the Parties shall have any authority to bind or commit the other save as authorised under these terms and conditions.
GLOSSARY OF TERMS
“Account Balance” means the balance of monies standing to the credit in the Member’s Account.
“Auction Premise” means the physical location where the Onsite Auction is to be held, as determined by Pickles Asia.
“Auction” means the sale or offer for sale of any property or any interest in any property by way of competitive bidding organised by Pickles Asia. An Auction may be carried out as an Online Auction, an Onsite Auction, or a combination of both.
“Auctioneer” means a licensed auctioneer appointed by Pickles Asia to conduct the Auctions.
“Balance Purchase Price” means, in respect of any Transaction, the Purchase Price less any Seller Deposit in respect of that Transaction.
In respect of multiple Transactions at the same Auction, the total Purchase Price of each Transaction, less any Seller Deposit in respect of those Transactions.
“Bid” means any bid validly placed by a Bidder and accepted by the Auctioneer in an Auction and “Bidding” means the act of placing a Bid.
“Bidder” means any Member in attendance of an active Auction and who places a valid Bid to purchase a particular Lot.
“Bidding Card” means a physical card used by a Bidder for the purposes of bidding in an Auction.
“Business Day” means any day which is not a Saturday or a Sunday on which the commercial banks in Selangor are open for business.
“Buyer’s Premium” means the buyer’s premium chargeable by Pickles Asia in respect of the specific Lot in accordance with the Fee Schedule (including any GST payable on the same).
“Buyer” means the last bidder (as recorded in Pickles Asia’s database) with the highest bidding price in respect of any Lot.
“Deposit” means, in relation to each Lot, the amount of down payment which is required to be paid on such Lot in order to secure the Lot for their purchase as set out in the Fee Schedule.
“Fee Schedule” means the schedule of fees containing information on the Deposits and Buyer’s Premiums payable for each Lot, accessible at https://www.pickles.my/fees.
“Forfeited Transaction” means any Transaction which is voided according to Paragraph 6.4 of these Terms and Conditions.
“Forfeiture Interest” means interest at a rate of 8% per annum over the Forfeiture Sum calculated on a daily basis.
“Forfeiture Sum” means a sum equivalent to the Deposit and liquidated ascertained sum and any Forfeiture Interest.
“GST” or “Goods and Services Tax” means goods and services tax payable under the Goods and Services Tax Act 2014.
“Inspection Report” means the report produced by Pickles Asia in respect of any Lot.
“Interim Period” means the period from the date of the Transaction up to the date that full payment of the Purchase Price has been made and the ownership of the Lot is deemed to be passed to the Buyer.
“Puspakom” means Pusat Pemeriksaan Kenderaan Berkomputer.
“Lots” means the items for sale in an Auction and “Lot” shall mean any one of them.
“Member’s Account” means the account held by a Member with Pickles Asia.
“Member” means a person who is registered with Pickles Asia in order to participate in the Auctions.
“Memorandum of Contract” means the legally binding contract in the prescribed form as determined by Pickles Asia.
“Mixed Auction” means any Auction where the Bidding is done via a combination of Online Bidding and Onsite Bidding.
“Online Auction” means any Auction carried out via an Online Platform(s).
“Online Bidding” means the act by a Member of placing a Bid via the Online Platform(s).
“Online Platform” means the electronic/online/mobile platform(s) designated by Pickles Asia to be used by Bidders to participate in an Online Auction.
“Onsite Auction” means any Auction conducted physically at an Auction Premise and where Members participate by being physically present at the Auction Premise.
“Onsite Bidding” means a Bid by way of a Bidding Card.
“Seller Deposit” means the portion of the Purchase Price to be paid by the Buyer immediately upon a successful Bid which forms part of the Deposit and shall be deducted from the Purchase Price.
“Parties” means collectively, the Bidders, Buyers and Sellers participating in the Auctions, and “Party” shall mean any one of them as the context requires.
“Payment Period” means the time limit within which the Buyer must pay the Balance Purchase Price to the Seller as stipulated in the Seller’s Terms.
“Pending Members” means any persons who have applied to register with Pickles Asia as a Member but whose application and supporting documentation have not been validated by Pickles Asia.
“Pickles Asia” means Pickles Asia Sdn Bhd.
“Principal” means any person or business entity on whose behalf a Member is participating in an Auction.
“Purchase Price” means, in relation to any Lot, the highest bid price as recorded in Pickles Asia’s database (including 6% GST) of that Lot.
“Release Letter” means the letter from the Sellers to the Buyer confirming that the Buyer has paid the Purchase Price for all or some of the successfully bidded Lots, in full.
“Seller’s Terms” means the terms and conditions imposed by the relevant Seller of each Lot, available at https://www.pickles.my/sellers-terms-conditions
“Seller” means the Member who is the owner of the Lot put up for sale at an Auction.
“Storage Charges” means the daily charges which the Buyer is required to pay to Pickles Asia for any uncollected or unremoved Lots in accordance with the Fee Schedule, after the expiry one (1) Business Day from the date of the Release Letter in respect of the Lot.
“Technical Specification” means the technical specifications in relation to any Lot.
“Terms and Conditions” mean these terms and conditions for participating in an Auction.
“Transaction” means the process where the Buyer of the Lot has been identified and determined, and such Buyer from that point thereinafter being obliged to pay the Seller the Purchase Price together with any ancillary fees or costs (including but not limited to any GST).
“Transfer Costs” mean all costs, expenses and charges relating to the transfer of ownership of the vehicle, including all taxes, duties, imposts, levies, social security contributions and rates imposed by any local, municipal, governmental, state, federal or other body or authority in Malaysia or elsewhere, in all cases being in the nature of taxation, and any interest, penalty, surcharge or fine in connection therewith provided always that it shall in no event include any costs associated with the transfer of the registration number of a vehicle.
“Transfer Documents” means the documents necessary to effect the transfer of ownership of the Lot to the Buyer or the Principal (as the case may be).
Last Updated March 10th, 2021