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Paddle
An implement given to each bidder at the registration desk. The paddle
contains the number assigned to the bidder when the bidder registers for an
auction. When you want to place a bid, you simply raise your paddle until
the auctioneer acknowledges you. If you are successful, you number is
recorded alongside you bid. To pay for your purchase, you need to bring your
paddle along to the purchaser payment counter.
Hammer Price
The final bid made before the hammer falls and closes the sale of an
Auction. The hammer price is the final purchase price.
Rights
All announcements made on the day of the auction sale shall take precedence
over any prior written or verbal terms and conditions of sale. If any terms
and conditions of sale contained herein are not complied with by the
successful bidder may, in addition to asserting all remedies available by
law, including the right to hold the defaulting successful bidder liable for
the purchase price, either
a) cancel the sale, retaining as liquidating damages any payment made by
such buyer
b) resell the property without reserve at public auction or privately on
seven days notice to such successful bidder,
c) take such other action as it deems necessary or appropriate.
the original defaulting successful bidder shall be liable for payment of any
deficiency in price and all cost and expenses, the expenses of both sales,
reasonable legal fees, commissions, incidental damages and all other charges
due hereunder.
Law Regulating The Auctions
The respective rights and obligations of the parties with respect to the
Terms and Conditions of Sale and the conduct of the auction shall be
governed and interpreted by the respective law/s and or rules regulating
auctions in the various states of Malaysia. By bidding at an auction,
whether present in person or by an agent, by written bid, telephone or other
means, the bidder shall be deemed to have full knowledge of the aforesaid
law/s and or rules regulating auctions in the various states of Malaysia
wherein the properties lies.
Important Note: Please note that as the above procedures are general in
nature, interested bidders are advised to consult their solicitors or the
auctioneer as to the specific procedures, terms and conditions applicable
for private auctions, auctions held by judicial courts or through the
various land offices concerned.
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