Common use of Prior to the auction Clause in Contracts

Prior to the auction. a the Assignee/Bank reserves the absolute right at any time to vary, alter or add to the Particulars and/or the Conditions of Sale; b all intending bidders (with exception of the Assignee/Bank) shall deposit with the Auctioneer a sum equal to 10% of the reserve price by way of Bank Draft or Cashier’s Order made payable to Small Medium Enterprise Development Bank Malaysia Berhad failing which they shall not be entitled to bid; c any person intending to bid on behalf of a company, society, firm or another individual shall deliver to and obtain acknowledgment by the Auctioneer, an authority letter signed by the principal on whose behalf the bidder is bidding and containing the principal’s full name, identity and address, failing which the bidder shall be deemed to contract in his own name and not as an agent for another; d all intending bidders shall be required to show their identity cards to the Auctioneer for identification, failing which they shall not be entitled to bid; e for Bumiputra lot, only Bumiputra is allowed to bid. f Online bidders are subject to the provisions of Clause(s) 2.4, 2.5 and 2.6 of the Terms and Conditions on xxxx.xxxxxxxx.xxx.xx for the manner of payment of the deposit.

Prior to the auction. a the Assignee/Bank Assignee reserves the absolute right at any time to vary, alter or add to the Particulars and/or the Conditions of Sale; b all intending bidders (with exception of the Assignee/Bank) shall deposit with the Auctioneer a sum equal to 10% of the reserve price by way of Bank Draft or Cashier’s Order made payable to Small Medium Enterprise Development Bank Malaysia Berhad OCBC BANK (MALAYSIA) BERHAD failing which they shall not be entitled to bid; c any person intending to bid on behalf of a company, society, firm or another individual shall deliver to and obtain acknowledgment by the Auctioneer, an authority letter signed by the principal on whose behalf the bidder is bidding and containing the principal’s full name, identity and address, failing which the bidder shall be deemed to contract in his own name and not as an agent for another; d all intending bidders shall be required to show their identity cards to the Auctioneer for identification, failing which they shall not be entitled to bid; e for Bumiputra lot, only Bumiputra is allowed to bid. f Online bidders are subject to the provisions of Clause(s) 2.4, 2.5 and 2.6 of the Terms and Conditions on xxxx.xxxxxxxx.xxx.xx for the manner of payment of the deposit.

Prior to the auction. a the Assignee/Bank reserves the absolute right at any time to vary, alter or add to the Particulars and/or the Conditions of Sale; b all intending bidders (with exception of the Assignee/Bank) shall deposit with the Auctioneer a sum equal to 10% of the reserve price by way of Bank Draft or Cashier’s Cashier‟s Order made payable to Small Medium Enterprise Development Bank Malaysia Berhad failing which they shall not be entitled to bid; c any person intending to bid on behalf of a company, society, firm or another individual shall deliver to and obtain acknowledgment by the Auctioneer, an authority letter signed by the principal on whose behalf the bidder is bidding and containing the principal’s principal‟s full name, identity and address, failing which the bidder shall be deemed to contract in his own name and not as an agent for another; d all intending bidders shall be required to show their identity cards to the Auctioneer for identification, failing which they shall not be entitled to bid; e for Bumiputra lot, only Bumiputra is allowed to bid. f Online bidders are subject to the provisions of Clause(s) 2.4, 2.5 and 2.6 of the Terms and Conditions on xxxx.xxxxxxxx.xxx.xx for the manner of payment of the deposit.