Pickles Auctions – Seller Terms and Conditions – for MSIG Insurance (Malaysia) Bhd

GENERAL TERMS & CONDITIONS ARE AS FOLLOWS:

1. The tender shall be on “As Is Where Is” basis and the vehicle registration number shall not be included. The bidder is to inspect the vehicle properly before placing any tender on the subject vehicle. The subject vehicle’s condition before and after tender period should be within the bidder’s consideration.

2. MSIG Insurance (Malaysia) Bhd (“MSIG”) shall not be liable for any subsequent loss and/or damage if the successful bidder has failed to tow out the subject vehicle from the stipulated location. The storage charges and/or other fees shall be borne by the successful bidder.

3. The successful bidder shall ensure that the vehicle is repaired within 90 days in compliance with relevant authorities’ requirements.

4. MSIG shall proceed to deregister the subject vehicle at the Road Transport Department Malaysia (“JPJ”) under the following circumstances, and no refund of monies or whatsoever will be made by MSIG to the successful bidder, if:
   • the subject vehicle is not repaired and certified roadworthiness by PUSPAKOM within 90 days from date of sales of Beyond Economical Repair vehicle.
   • the subject vehicle has failed to transfer ownership at JPJ within 14 days after receipt of the original transfer ownership documents.
   • the “double transfer of ownership” is carried out, the transaction has not been completed/transferred within 7 days as per JPJ’s requirements.

5. The successful bidder shall also be required to provide an undertaking letter from the workshop that repaired the subject vehicle (see sample letter format below).

6. MSIG reserves the right to perform inspection on the after-repaired vehicle prior to releasing the transfer ownership documents to the successful bidder.

7. The successful bidder shall provide a copy of the updated vehicle registration card to MSIG within 7 days to confirm that the transfer of ownership has been completed.

8. MSIG shall not be liable for any cost and/or loss and/or damage if the subject vehicle has failed :-
(a) to obtain PUSPAKOM’s roadworthiness certification: or
(b) to get transfer of ownership due to whatsoever reason.

9. For those vehicles sold as SCRAP or determined later to be SCRAP by PUSPAKOM or JPJ, MSIG shall not provide transfer of ownership documentation.

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TERMS & CONDITIONS ON JPJ OWNERSHIP TRANSFER FOR REPAIRED INSURANCE SALVAGE

1. With immediate effect, MSIG has authorised Pickles Asia Sdn Bhd (“Pickles”) to perform the JPJ ownership transfer on its behalf for all sold vehicles under the Beyond Economical Repair.

2. All JPJ ownership transfer for insurance salvage items is COMPULSORY to be executed by Pickles.

3. The JPJ ownership transfer fee is RM380 per item. This amount is to be paid to Pickles before any transfer process can be commenced.

UNDERTAKING LETTER (SAMPLE LETTER)

[THIS LETTER IS REQUIRED TO BE PRINTED USING THE WORKSHOP’S COMPANY LETTERHEAD]

Date : [PLEASE INSERT]

To :

MSIG Insurance (Malaysia) Bhd
Level 17, Menara Hap Seng 2,
Plaza Hap Seng,
No. 1, Jalan P. Ramlee,
50250 Kuala Lumpur

Attention: Claims Department

Dear Sirs,

RE: LETTER OF UNDERTAKING AND INDEMNITY IN RESPECT OF REPAIR TO THE WRECK FOR [VEHICLE NO.] UNDER BEYOND ECONOMICAL REPAIR

We refer to the above matter.

We, (WORKSHOP’S NAME), hereby undertake:-

(a) to declare that we are the JPJ certified workshop under ‘Bahagian Kejuteraan Automotif’ and confirm that the abovementioned vehicle which is categorized as Wreck has been repaired by our workshop to a road-worthy condition; and

(b) to indemnify MSIG Insurance (Malaysia) Bhd with regards to any action, claims, proceeding, demands, liabilities, losses, damages, costs and expenses incurred as a result of failure by us to have the abovementioned vehicle inspected or certified as required under the prevailing laws and regulations in Malaysia.

This letter of undertaking and indemnity shall: –

1. be binding upon the personal representatives, permitted assigns and successors in title of [INSERT FULL NAME OF THE WORKSHOP]; and

2. be governed by, construed and enforced in accordance with the laws of Malaysia.
   We trust the above is in order.

Thank you.

Yours faithfully,

[INSERT FULL NAME OF WORKSHOP]

For (Signature) :                                                          Witnessed by (Signature):
Name :                                                                          Name :
NRIC No. :                                                                    NRIC No. :
Designation :                                                               Designation :
Company Stamp: