Terms & Conditions

TERMS & CONDITIONS

Carbid.my

1. Use of the CARBID (Bidding system)

1.1 Access to mobile application.

1.2 The use of this application and the online system is governed by and subjected to you agreeing to the Terms and Conditions.

1.3 The Sellers and Bidder’ss hereby agree with the Terms and Conditions to apply when using G-Mart’s CarBid System.

1.4 All trade-marks, copyright, database rights and other intellectual property rights of any nature in G-Mart’s CarBid system, together with the underlying software codes, shall be the property of G-Mart Corporation Sdn. Bhd. The Sellers and Bidder’s shall not, nor allow any third party to; reproduce and distribute any copies of the Application.

1.5 By participating in CarBid, any person intending to bid in this bidding (a Bidder’s/Purchaser) hereby agrees and accepts that:

1.5.1 The physical condition of the Vehicles is subjective and is deemed to be satisfactory to the Bidder’s based on their own assessment of the inspection provided and independent judgment;

1.5.2 The Bidder’s is participating in this bidding on his/her own free will and at his/her own risk;

1.5.3 The Bidder’s have read, understood and agreed to be bound by these terms and conditions governing the bidding of the Vehicles. The Terms and Conditions wherever mentioned herein, shall be deemed to be of essence.

1.6 By participating in CarBid, any person intending to sell in this bidding (Seller/legal owner) hereby agrees and accepts that:

1.6.1 The Seller is participating in this bidding on his/her own free will and at his/her own risk;

1.6.2 The Seller have read, understood and agreed to be bound by these terms and conditions governing the bidding of the Vehicles. The Terms and Conditions wherever mentioned herein, shall be deemed to be of essence.

1.6.3 It shall be mandatory for the Seller to declare the condition of vehicles as mentioned under clause 2.

1.7 While the vehicles are bid on an ‘as is where is basis’, it is the duty of the Seller to declare the condition of vehicles intended to be put on CarBid, particularly on:

1.7.1 Flood contaminated vehicle;

1.7.2 Previous involvement in major accident;

1.7.3 Insurance claim history;

1.7.4 Whether vehicle has been written-off;

1.7.5 Whether vehicle is free from encumbrance

1.8 In the event of a dispute between the Bidder’s and Seller pertaining to the condition of Vehicles, G-Mart’s CarBid and/or appointed officials shall be the sole arbiter and the decision thereto shall be final and acceptable to the Parties.

1.9 G-Mart shall be at liberty to postpone, call off or adjourn the bidding of the day or any lots at any material time without having to provide any reasons or grounds whatsoever and such decisions shall be final not be challenged in any court of law.

1.10 These terms and conditions shall be governed by and interpreted in accordance with the laws of Malaysia.

1.11 Notwithstanding anything contained herein, G-Mart reserves the right to cancel any sale and/or transaction, even after being finalized, in the event that it is discovered through any means that there has been:

1.11.1 A misrepresentation of the Vehicle technical specification; and/or

1.11.2 Fraud; resulting in the sale and/or bidding of the Vehicle.

1.11.3 Technical malfunction or programming error and digital destruction.

2. Condition of the Vehicles

2.1 By agreeing to participate in CarBid system consist of the vehicle that has been inspected by G-Mart’s in house inspectors.

2.2 The inspection and other related fees shall be at Seller own cost at the time of the successful bid.

2.3 The condition of the said vehicle is reported utilizing the guidelines of G-VIS (G-Mart Vehicle Inspection System). G-Mart will not be held liable for any omission, misinterpretation or misrepresentation of the condition of the said vehicle.

3. Seller

3.1 Online registration

3.2 Document Upload Requirement and the photo of vehicles.

3.3 Have an option for immediate sale by agreeing to the Terms and Conditions.

3.4 Full settlement charges is fixed at 2% or minimum RM350.00 whichever higher from the outstanding balance before seller make an option to sell the vehicles to G-Mart.

4. Vehicle Relocation

It shall be the duty of the Seller to produce the vehicles to G-Mart is operation office via these two following methods and the cost of relocation is under the Seller own cost.

4.1 Self-delivery or;

4.2 Pick up delivery by transport agents/contractors.

5.Bidders

5.1 Online registration

5.2 The Bidder’s shall pay a sum of a RM600.00 Bidder’ss premium for every successful win.

5.3 Any error, misstatement or wrongful description of the Vehicle in any documents may NOT annul or invalidate the bidding and/or the sale of the Vehicle nor shall the same grant any rights to the Bidder’s to make any claim in respect thereof except against the Seller for such representation.

5.5 Notwithstanding anything contained herein, it is understood and agreed that it is the vehicle per se that shall be deemed as the subject matter of the bidding while documentations and/or descriptions of the vehicle, even though obligatory, shall be deemed secondary.

6. Bidding Credit and Bidder Premium for CarBid

6.1 There will be a sum in one single payment of RM3000.00 (as security deposit which is refundable upon the closure of account) and RM 600.00 (Bidder’s Premium) will be added to the winning bid price. The final price would be; (FINAL PRICE = WINNING BID + BIDDER’S PREMIUM). The Bidder’s may pay for the Final Price: Either via banker’s cheque or online banking payable to G-MART CORPORATION SDN BHD. (MBB. Account No. 014301203364)

7. Bidding Process

7.1 During the bidding process, the Vehicle shall be bid, in parallel with other lots for a preset time period, including but not limited to the followings:

7.1.1 The lot number of the Vehicle;

7.1.2 A set of photos of the Vehicle;

7.1.3 The particulars of the Vehicle, such as the make, model, year of make and odometer reading

of the Vehicle;

7.1.4 The inspection report of the Vehicles (G-VIS: G-Mart Vehicle Inspection System). 7.1.5 The current bid price of the Vehicles.

7.2 The Bidder’s is given an option to start with a Bid by pressing the Bid Now or any other appropriate button.

7.3 The Bidder’s would bid by pressing the Bid Now button in the system. The price increase in every bid shall be RM200.00 or any other preset bid increase amount selected by the Bidder’s.

7.4 The Bidder’s with the highest bidding price shall be declared as the successful Bidder’s of the Vehicle. The final bidding price + Bidder’s premium shall be deemed as the purchase price of the Vehicle.

7.5 For each Private Entry Vehicle with bid(s) placed during the CarBid event the Seller may at his/her absolute discretion accept or reject such bid(s) during the confirmation call by CarBid representatives. The Seller, shall accept the bid via the post-bidding confirmation call within 24-hours from the conclusion of the bidding event, failing which, the Seller shall be deemed to have declined the bid of which the said decision shall be at the sole discretion of the Seller and G-MART shall be absolved and not be held liable for such decision by the Seller. Once the Seller has accepted the bid, the Vehicle shall be deemed successfully sold at the accepted bid price (“Final Price”).

8. Balance Purchased Price

8.1 The Purchased Price shall be paid in full by the Bidder’s to G-MART within three (3) days from the date of successful of bid. Provided always that the Bidder’s shall only be deemed as the successful Bidder’s upon the system generating the Certificate Of Sales (COS). The successful Bidder’s shall presents himself/authorized representative at G-Mart to collect the vehicle and complete the documentation process within fourteen (14) days from the date of Certificate Of Sales (COS).

8.2 The Payment Period shall be extended by the Seller for a period of not more than three (3) days upon a written request by the Bidder’s before the expiry of Payment Period. Upon such extension being granted by the Seller, the Bidder’s shall be further required to pay as penalty the RM300.00 or 1% of the Purchase Price (whichever is higher) immediately after the expiry of the Payment Period until full payment of the Balance Purchase Price which shall fall within the Extended Payment Period.

8.3 In default of such payment of the Balance Purchase Price:

8.3.1 The Seller may choose to put the Vehicle up for re-bedding, and the defaulting Bidder’s shall be liable to the Seller the cost of such re-bidding together with the deficiency in price of the Vehicle in the subsequent bidding (if any);

8.3.2 If the Bidder’s fails and/or refuse to pay the penalty for Extended Payment Period to the Seller prior or at the time of settlement of Balance Purchase Price, G-Mart shall not release the vehicle to the Bidder’s and shall deem the sale as forfeited.

9. Interim transfer of ownership:

9.1 PUSPAKOM inspection for the vehicle transfer of ownership.

9.2 The Bidder shall be entitled to collect the Vehicle from GMART upon full payment of the Purchased Price of the Vehicle.

9.3 G-MART shall cause the Seller to execute and forward the following documents to the Bidder within five (5) days from the date of GMART’s receipt of the full Purchase Price for purposes of interim transfer of ownership of the Vehicle:

9.4 The Bidder shall only be entitled to collect the Vehicle from G-MART upon making the Full Payment.

9.5 G-MART shall procure the Seller to execute and forward the following documents to the Bidder within five (5) days from the date of G- MART’s receipt of the Full Payment and the Handling Fee (if applicable)

10. Refund

10.1 PUSPAKOM inspection for the vehicle transfer of ownership.

10.2 The Bidder’s shall be entitled to collect the Vehicle from GMART upon full payment of the Purchased Price of the Vehicle.

10.3 G-MART shall cause the Seller to execute and forward the following documents to the Bidder’s within five (5) days from the date of GMART’s receipt of the full Purchase Price for purposes of interim transfer of ownership of the Vehicle:

    a. Director’s or owner’s NRIC copy
    b. Original Vehicle Registration Card (JPJ K2);
    c. A copy of FORM 49 of the Seller (only applicable where the Seller is a private limited or limited company);
    d. A copy of Form 9 (“Company Endorsement Certificate”) or Form 13 (“Name Transfer Certificate”) (only applicable where the Seller is a private limited or limited company and the Vehicle is a trade vehicle);
    e. A copy of “E-Batal Hakmilik” slip, or a letter/ stub of ownership claim cancellation by the registered owner.
    f. A copy of Minute of Board Director’s Meeting or Resolution for the sale of the Vehicle (only applicable where the Seller is private limited or limited company and the Vehicle is a trade vehicle);
    g. Where the transfer of ownership will be carried out by an authorized representative of the Seller, a copy of authorization letter from the Seller to the said representative, together with a copy of the identification document of the director having signed on the authorization letter (only applicable where the Seller is a private limited or limited company). (collective, the “Transfer Document”):
    h. Partnership Consent (Sole Proprietary); and/or
    I. AP Document (for imported vehicle)

10.4 The Bidder’s shall only be entitled to collect the Vehicle from G-MART upon making the Full Payment.

10.5 G-MART shall procure the Seller to execute and forward the following documents to the Bidder’s within five (5) days from the date of G- MART’s receipt of the Full Payment and the Handling Fee (if applicable) (“G-MART’s Promised Timeline”) for purposes of permanent transfer of ownership of the Vehicle:

    a. NRIC Copy (Individual);
    b. Form JPJ K3
    c. Original Vehicle Registration Card (JPJ K2);
    d. E-Batal Hakmilik
    e. AP Document (for imported vehicle)
    f. Where the transfer of ownership will be carried out by an authorized representative of the Seller, a copy of authorization letter from the Seller to the said representative (collectively, the “Transfer Documents”).

11. No Refund

The Bidder’s shall NOT be entitled to claim for refund only under the following circumstances:

11.1 The vehicle cannot be registered with the Authorities due to traffic summons, fines or penalty unpaid/unresolved by the previous owner.

11.2 If the Authorities gave a conditional approval for the Vehicle’s transfer of ownership registration, under which transfer of ownership registration can be made if any defects/parts of the Vehicle were to be rectified/replaced.

11.3 Any other reasons not specifically mentioned herein cited by the authorities which may render the registration of transfer of ownership impossible.

12. Limit of G-Mart Liability

Notwithstanding anything contained herein, the liability of G-Mart shall be limited only to Bidder’s Premium, whichever is applicable.

13. Indemnity

The Bidder’s and Seller hereby jointly and severally undertake to indemnify G-Mart and keep G- Mart indemnified for any loss, damage and legal costs arising from any occurrence of G-Mart being subjected to any litigation and/or dispute that may arise between the Bidder’s and Seller as a result of the bidding.

14. Suspension of Service/Internet Connection/Compatible Devices

14.1 No Warranty or Representation of Availability G-Mart expressly disclaims any representation or warranty that the Online Sales System will be available for use by You at all times or at any particular time, during and for the duration of any particular Sale Process or at all.

14.2 Interruption to Service during Sale Process If the Online Sales System is interrupted (either generally or to a particular Bidder’s(s) or person(s)) for any reason during a Sale Process (whether by way of suspension by G-Mart under clause (or otherwise) G-Mart may, but is not obliged to, declare the Sale Process void and recommence the Sale from the beginning.