Seller Terms and Conditions – Toyota Capital Malaysia Sdn Bhd - Pickles Auctions Asia

Seller Terms and Conditions – Toyota Capital Malaysia Sdn Bhd

By bidding on any item by Toyota Capital Malaysia Sdn Bhd (“TCAPM”), in addition to the Pickles Auctions Terms and Conditions, you also further agree with the following Toyota Capital Malaysia Sdn Bhd Seller Terms & Conditions:

  1. All Vehicles shall be sold on “as is where is” basis.
  2. For vehicles which were remarked as GST Inclusive in the auction instruction letter, TCAPM will furnish all successful bidder a tax invoice on balance purchase payment made to TCAPM dedicated bank account.
  3. Intending bidder must place auction deposit of at least before the auction begins. The amount of the auction deposit shall be determined at TCAPM’s recommendation.
  4. Only bidders who have duly registered and deposited the auction deposits are allowed to bid.
  5. Pickles or TCAPM reserves the right to postpone, call off or adjourn the auction proceeding at any time.
  6. The successful bidder must pay the balance of the purchase price to TCAPM within fourteen (14) working days (settlement period) after the date of the auction.
  7. The successful bidder’s auction deposit will be forfeited if he/she fails to pay the balance of purchase price within the settlement period. For the avoidance of doubt, subject to the approval of TCAPM, TCAPM shall have the absolute discretion to grant a maximum one time extension of time for the successful bidder to settle the balance purchase price provided always that the successful bidder pays an extra deposit of 20%.
  8. The successful bidder must perform the transfer of the vehicle’s ownership within 30 calendar days after full payment to TCAPM, failing which the bidder shall NOT be entitled to claim for any refund / loss / cost for whatsoever reasons.
  9. The transfer of ownership documents will only be forwarded to the successful bidder after the settlement of the purchase price in accordance with the Contract of Sale / Memorandum of Contract..
  10. TCAPM will not be responsible for any lost or the delay in receiving the documents
  11. Pickles shall not release any vehicle to any person unless such person have obtained the necessary authorization from TCAPM. All the authorization shall be written in accordance with TCAPM’s prescribed format and duly signed by TCAPM’s authorised signatory.
  12. Vehicles can only be released to any party during regular working hours (Mondays to Fridays, 9.00 am to 5.30 pm, holidays excluded).