Online Terms & Conditions

1. Requirement on Eligibility of E-Bidders

• Parties who intend to participate in any auction must sign up as a user, register on the website, and register as an E-Bidder.
• Individuals must be 18 years and above, of rational mind, and not bankrupt.
• Companies must be incorporated under the laws of Malaysia and must not be in liquidation.
• E-Bidders must be able to take, fulfil, and perform all necessary actions, conditions, and matters required by law to participate and complete the purchase if successful.
• Auction particulars and schedule, including venue, time, and date, will be stated in the Proclamation of Sale.
• Eligibility is subject to existing federal and state legal provisions. Non-Malaysian bidders and companies should note restrictions imposed by relevant authorities.
• Services are available only to individuals or entities capable of forming legally binding contracts under applicable law.

2. Property View & Property Information

• Prospective bidders and interested parties may view general information about a property by clicking the property's bid page.
• Additional property information may be available through links on a particular property's bid page.
• Users may view bids without registration, but must be registered to bid.
• Properties may be offered through an Internet auction process with specified opening and closing dates.
• It is the sole responsibility of intending E-Bidders, at their own cost, to obtain all confirmations or consents required and to satisfy themselves on the physical condition, identity, particulars, ownership, title, restrictions, charges, obligations, and eligibility matters relating to the property before bidding.
• Auctioneers, assignees, banks, solicitors, and the website make no representation or warranty in respect of those matters and shall not be responsible or liable to E-Bidders.

3. Registration and User Account Policy

• Any individual who wishes to access features of the website may register as a Registered User.
• Registration may be completed by providing a valid email address and secure password, or by approved Single Sign-On services such as Google where available.
• Registered Users must provide accurate, current, and complete information, and must update such information when necessary.
• Registration as a Registered User does not automatically qualify the user to participate in bidding activities.

4. Registration of E-Bidders

• Any Registered User who intends to participate in online bidding must register separately as a Bidder or E-Bidder.
• Bidder registration is subject to Know-Your-Customer verification, required identification documents, company documents where applicable, Malaysian legal eligibility, and payment or submission of the required bidding deposit.
• TRAS Auction reserves the right to approve, reject, suspend, or revoke any Bidder registration if information is inaccurate, incomplete, or fails verification.
• Only approved and verified Bidders may participate in live or online auctions.
• E-Bidders may browse the website and select properties they wish to bid for.
• E-Bidders must keep their account details confidential and must not permit any third party to use or access their account.
• By registering and proceeding with a bid, E-Bidders are deemed to have accepted these terms and conditions.
• These terms must be read together with all Conditions of Sale attached to the Proclamation of Sale. If there is inconsistency, the Conditions of Sale shall prevail.
• E-Bidders must upload relevant documents and evidence of deposit payment before registration closes, no later than 5:00 PM at least one working day before the auction date unless otherwise stated.
• Approval may take at least one working day. Improper, incomplete, or late registration may be rejected at TRAS AUCTION BY MECHATRAS SDN BHD's sole discretion.
• Bidding may be done via computer, smartphone, or any device with a good Internet connection.

5. Deposit Requirement

• All Bidders must submit the prescribed bidding deposit before participating in any auction.
• The deposit amount will be stated in the relevant auction listing or Proclamation of Sale.
• Deposits shall be handled according to the applicable Conditions of Sale.
• Deposits may be refunded to unsuccessful Bidders, applied toward the purchase price for successful Bidders, or forfeited in the event of default subject to auction terms.

8. Online Public Auction Bidding Procedures

• Bidding generally commences based on the sequence of lots shown on the website, but the Auctioneer may vary this sequence without notice.
• Registered E-Bidders must log in using the link in their registered email address and wait for their turn to bid for the registered lot.
• E-Bidders should log in 15 minutes before auction commencement and wait for the lot they registered for.
• If there is only one Registered E-Bidder, the auction may begin at the reserve price. If more than one Registered E-Bidder is present, the auction may begin at the determined increment rate.
• The Auctioneer has discretion to determine the price per bid and announce the amount based on registered bidder numbers and property value.
• Waiting until the last few seconds to place a bid is not recommended due to different connection speeds. Do not refresh the bidding page during an online auction.
• The countdown clock should be considered accurate but not exact.
• Auction stages may display messages such as “Preparing”, “Get Set”, “Bidding”, “First Call”, “Second Call”, “Final Call”, and “No More Bid”. The PLACE BID button appears when bidding is available.
• Any bid entered by a registered E-Bidder cannot be withdrawn.
• The highest bidder shall be declared successful upon the fall of hammer.
• The decision of the Auctioneer shall be final and binding on all on-site bidders and E-Bidders.
• Unsuccessful bidders will have deposits returned in accordance with the applicable terms.
• The information shown or prompted on the website regarding bidding price and declaration of successful bidder shall be final and conclusive.
• The Assignee or Bank may postpone, adjourn, stand down, call off, withdraw, or vacate an auction sale before the fall of hammer with or without notice and without giving reasons.

9. Post Online Public Auction Sale

• Successful E-Bidders must sign the Memorandum or Contract of Sale and pay any difference between 10% of the purchase price and the deposit paid on the same day as the auction day.
• Failure to complete the required signing or payment may result in forfeiture of the deposit, cancellation of the sale, and the property being put up for subsequent auction.
• A successful E-Bidder who cannot attend may authorize another person to sign on their behalf, subject to the required authorization documents.
• If there is inconsistency between uploaded personal details/documents and actual documents produced, the Auctioneer may refuse signing, cancel the sale, and put the property up for a new auction.
• The signed Memorandum or Contract of Sale shall be conclusive evidence of sale to the successful bidder.
• For unsuccessful E-Bidders, deposits or bank drafts will be processed for refund or return within three working days.

11. Confidentiality, Intellectual Property & Miscellaneous

• Use of the website and these terms shall be governed by and construed in accordance with the laws of Malaysia.
• Electronic transactions of immovable property by public auction shall be regulated by the laws of Malaysia, and related legal actions shall be subject to the exclusive jurisdiction of the Courts of Malaysia.
• By accessing the website, E-Bidders acknowledge that TRAS AUCTION BY MECHATRAS SDN BHD may collect, retain, or disclose information for the effectiveness of services in compliance with the Personal Data Protection Act 2010 and applicable laws.
• E-Bidders are responsible for confidentiality and use of passwords, and must not reveal passwords to anyone.
• Information, contents, materials, documents, graphics, files, data, text, images, digital pictures, or visuals displayed on the website shall not be used or published without permission from TRAS AUCTION BY MECHATRAS SDN BHD.
• In the event of intellectual property infringement, TRAS AUCTION BY MECHATRAS SDN BHD may use available legal remedies, including damages, solicitors' fees, and injunctive relief.
• If there is any inconsistency, discrepancy, misstatement, or error in translated terms, the English version shall prevail.
• If there is inconsistency between these terms and the Conditions of Sale attached to the Proclamation of Sale, the Conditions of Sale shall prevail.
• Words importing the singular number shall include the plural number and vice versa.