Terms and Conditions

References to these “Terms and Conditions”, include these Terms and Conditions as may be revised, amended or updated and includes terms and conditions for Supplemental Services or subscriptions, and general practices, guidelines and limits adopted under these Terms and Conditions.

By accessing, browsing, using and/or registering as a user of the Website at fundmyhome.com and the Services, you are deemed to have read and agreed to be bound by these Terms and Conditions and our Privacy Policy, which may be revised, amended or updated by us in our sole discretion from time to time, with or without notice to you. Our Privacy Policy is incorporated within these Terms and Conditions by reference. These Terms and Conditions and Privacy Policy form a legally binding contract between you and EdgeProp Sdn Bhd (“us” or “we”). If you do not agree with these Terms and Conditions and/or our Privacy Policy, you should exit from the Website and cancel your registration. 

Any revision, amendment or update of these Terms and Conditions and Privacy Policy and terms and conditions for Supplemental Services or subscriptions will be effective immediately upon the posting of such revisions, amendments or updates on the Website (or any earlier communication of it to you) based on the change date indicated (if any) and whether or not you receive specific notification of such revisions, amendments or updates by emails or other forms of communications. You are required to review the applicable terms and conditions each time before or when you access, browse or use the Website or Services (including any Supplemental Services or subscriptions) and check the version date for revisions, amendments or updates made. Your continued access and use constitutes your express agreement to abide by such revisions, amendments or updates and such revisions, amendments or updates are incorporated into the applicable terms and conditions.

In the course of operating the Website and providing the Services, we may organise events, campaigns, contests, competitions, awards and the like (“Supplemental Services”) which may or may not contain additional terms and conditions, rules and/or privacy policy. You are required to review the terms and conditions, rules and privacy policy (if any) of such Supplemental Services before participating in and/or registering for such activities. 

1. SCOPE OF SERVICES 
   1. We may make available to you various services, content, products including property listings, news and information, related services and related content such as analytics and tools (“Services”) which may be accessed through any medium, format or device now known or hereinafter developed, including the Website in accordance with these Terms and Conditions. The Services may also be located at or provided through third party websites, applications (either as a link from an add-on service to or in connection with, other web sites) or items that third parties control. The Services may include various forms of communication from us or third parties, including emails, messages, notices, newsletters and service announcements. The Services are provided strictly on an “AS IS” basis. We are not responsible for the availability, timeliness or functionality of the Services, deletion or failure to store any content, saved selections if applicable, personalisation settings or any services provided by, communications from or things related to third parties. 
   2. We may from time to time, at our sole discretion, establish general practices, guidelines and limits concerning the use of the Website or Services. Without limitation, we may effect any of the following, with or without giving you prior notice: 
      1. variation, amendment, addition to, suspension or termination of the Website, Services or any part thereof including the removal of any part or content of the Website or Services; 
      2. the maximum number of days any thing related to the Services will be retained at the Website; 
      3.  the maximum number of email messages that may be sent from or received by an account on the Website, the maximum space allocation on our servers on your behalf, the number of times (and the maximum duration for which) you may access the Services in a given period of time; 
      4. logging off, deactivation or suspension of accounts that are inactive for a period of time to be determined by us at our sole discretion. 
   3. We reserve the right at any time or from time to time to modify, discontinue temporarily or permanently the Website or Services or part thereof with or without notice. The Website and Services may be temporarily unavailable from time to time due to maintenance, telecommunications interruptions or other disruptions. 
       
2.  FEES (WHERE APPLICABLE) 
   1. We reserve the right at any time to charge subscription fees for access to the Website or Services or any part or content thereof or for the use of any feature comprised therein. The amount of subscription fees, the subscription period and the specific terms of subscription governing the access or use thereof will be indicated when subscription is made available. We reserve the right to revise the subscription fees, period and terms of any of the Services at any time. 
   2. You shall bear any taxes, GST, duties or levies to which the subscription fee is subject. 
   3. Unless stated otherwise, there shall be no refund of any subscription fees paid. 
       
3. YOUR OBLIGATIONS 
   1. You represent and warrant that you are at least 18 years old (in the case of individuals and purported representatives of organisations) and have the necessary legal capacity, right, power and authority to form a binding contract and agree to these Terms and Conditions in order to access the Website, use the Services and/or register under the Website. In the case of organisations, you represent and warrant that you are validly existing and duly incorporated, where applicable; and references to “you” in these Terms and Conditions are references to each of the organisation and the person purporting to represent it. In the case of purported representatives of organisations, you further represent and warrant that you have the necessary right, power and authority to transact and execute documents on behalf of the organisation. 
   2. You are solely responsible for the set-up and configuration of your computer system (hardware, equipment and software) to ensure that you have optimal access to the Website at all times. You are also solely responsible for all charges payable to connect your computer and devices to the Website such as Internet connection charges, cellular network data charges, and other related fees or charges incurred or payable in respect thereof. 
   3. Transmission of information through the Internet and other network services is generally not secure. We therefore cannot and will not guarantee the privacy or security of any information you transmit to us or third parties, or we or third parties transmit to you, or otherwise, including your personal information, your User ID and Password. You should take the necessary security measures (including changing Password regularly) to protect such information and to prevent unauthorised access to your account. You shall notify us immediately if you discover any unauthorised access, unauthorised use of your User ID and/or Password or any other breach of security. 
   4. You recognize that due to the global and international nature of the Internet, you are required to ensure and are responsible for use of the Website in a manner consistent with and in full compliance of any and all applicable international and local laws, regulations, guidelines and directives. 
   5. You shall not use any third-party software, hacks, mods or any method whatsoever to access, crawl, aggregate or collect any information or data from the Website. Neither shall you use any software that intercepts, “mines” or otherwise collects information from or through the Website. 
   6. You shall not share your account with a third party. 
   7. You confirm that all the information provided by you upon registration and from time to time (if any) is true, accurate, current and complete. Should there be any change to any of the information, you shall immediately notify us. If you provide us any information that is untrue, inaccurate, not current or incomplete, or we have reasonable grounds to believe that such information is untrue, inaccurate, not current or incomplete, we may exercise our right to suspend or terminate your account and refuse any and all current or future use of the Services (or any part thereof). 
4. PLACEMENT OF LISTING/ADVERTISEMENT 
   1. This Section 4 applies to the category of users who are permitted to use the Website and Services for commercial purposes including without limitation real estate agents, real estate negotiators, appraisers, realtors, valuers, financial institutions, banks, property developers and other service providers. In the event of uncertainty over the category of users which you may fall under, please contact us via our contact details listed at the end of these Terms and Conditions. 
   2. For the purpose of this Section 4, “Contents” shall include without limitation the content of a Listing or an Advertisement (as the case may be), other information, data, photographs, images, video footage, film, virtual tool, text, links and other material, data and compilation and instructions provided to us for the purpose of publishing the Listing or Advertisement. Unless stated otherwise, “Listing” or “Advertisement” in this context may include without limitation listings, advertisements, notices, announcements and/or statements placed by users at the Website or other online medium provided by us. 
   3. You acknowledge and agree that: 
      1. the Contents of a Listing or an Advertisement must be submitted through the method, specifications and in the file format as specified by us from time to time.
      2. the receipt and initial acceptance by us of the Contents (or payment where applicable) pursuant to your request for a Listing or Advertisement shall not be deemed to be an undertaking or agreement by us to accept or proceed with your Listing or Advertisement. We may at our sole discretion decide to approve, reject or postpone the placement of your Listing/Advertisement without providing you any reasons and subject you to payment of an administrative fee for any processing of your request. 
      3. the acceptance, Content, placement, positioning, sequence, context, presentation and timing of a Listing/Advertisement is at our sole discretion. 
      4. we do not assume responsibility nor undertake to review or verify the Contents and you are fully and solely responsible in checking and ensuring the accuracy and veracity of the Contents before they are provided to us, published or repeated. We reserve the right to refuse your request to correct any shortcomings or errors or to publish errata in the Listing/Advertisement upon the publication. 
      5.  In submitting the Contents for placement of a Listing/Advertisement, you represent and warrant as follows: 
         1. the Contents are in full compliance with these Terms and Conditions; 
         2. you have the right to and we may publish the Contents (and all parts thereof) without infringing any third party rights, giving rise to any civil or criminal liability or breaching of any laws; 
         3. you and we are permitted to use the photographs, images or materials in the Listing/Advertisement. Please note that you are not allowed to use photographs, images or materials in the Website or Services provided by other users unless expressly allowed; 
         4. the photographs, images or materials in the Contents do not contain any watermark or indication (logo, name or otherwise) other than specific to the property or its developer; 
         5. photographs or images of the property to be listed that you will upload will correspond exactly with the property (and its actual or planned condition and specifications) and will be only those that are relevant including the interior, exterior or even the surroundings of the property, and you will not include any other unnecessary information including company logo, website details, sale signboards and other unrelated information or claims; 
         6. you have obtained the necessary legal, regulatory and governmental approvals, licenses, consents and permits in relation to any promotional activity, including but not limited to lucky draws contained in the Listing/Advertisement, if any; 
         7. the Contents submitted are true, accurate, current and complete; 
         8. you do not provide any false, inaccurate or misleading information in the Contents or overstate, create a false impression or omit to provide any relevant information; 
         9. you do not place the Listing/Advertisement without the owner’s consent, including without limitation private homeowners and/or property developers; 
         10. you do not advertise a price differently from that stipulated by the owner; 
         11. you do not advertise a Listing/Advertisement as available when it is not available for sale or for rent; 
         12. you will not submit or claim Listing(s) that does not belong to you or place the Listing/Advertisement on behalf of, for or represent other company, corporation, individual or agency; 
         13. each Listing relates only to one specific property; 
         14. where you are placing the Listing/Advertisement in the ordinary course of your business/profession, you have complied with all applicable laws, rules, regulations, guidelines and directives of the relevant jurisdictions governing the conduct of your business/profession, including without limitation, all licensing requirements such as under the Valuers, Appraisers, Estate Agents and Property Managers Act 1981 of Malaysia and the Estate Agents Act (Chapter 95A) of Singapore; 
         15. you have complied with all applicable laws, rules, regulations, guidelines and directives in the placement of the Listing/Advertisement in the relevant jurisdictions including the jurisdiction where the targeted audience of the Listing/Advertisement resides. 
   4. You shall ensure that any third party websites linked through the Contents are relevant and are not websites that provide auctioneering or advertising services. 
   5. You may request for the removal and/or withdrawal of any Listing/Advertisement published, in which case, you will not be refunded on the removal and/or withdrawal of such Listing/Advertisement. We reserve the right to charge you administrative fees for such removal and/or withdrawal. 
   6. You hereby grant us, our affiliated and related companies, employees, licensees, suppliers, vendors or agents, a royalty-free, irrevocable, perpetual, transferable and worldwide license to use, reproduce, distribute, display, modify, edit, translate, adapt, display, disseminate, communicate to the public in any manner whatsoever the Contents (or part thereof) in printed format or on the Website or Services through any medium, format or device now known or hereinafter developed. 
   7. The use of third party services or third party software to post the Listing is strictly prohibited and is a violation of these Terms and Conditions. 
       
5. ANALYTICS AND TOOLS 
   1. Section 5 relates to the Services for you to use or access various tools, databases, statistical information and analyses of data (the “Analytics”) pertaining to real estate trends in Malaysia and Singapore and any other jurisdictions as may be added by us from time to time. The Analytics may be available to you via the Website, emails, messages,  on printed matter or any other medium, format or device now known or hereinafter developed and as may be determined by us from time to time. 
   2. Access to such data or information may be limited based on the category of users you belong to.
   3. You may view, download and print the Analytics where it is only used for your own internal business purposes or personal use and is not distributed to a third party. Such third party distribution is only permitted where no alterations, additions or modifications are made to it and due acknowledgement is given to us and citing the sources of the relevant data extracted. 
   4. The Analytics should not be used for any commercial purpose or as a substitute for professional advice. They are provided “AS IS” and we do not give you warranty as to its accuracy. We shall not be responsible or liable for any claims, damages, losses, expenses, costs or liabilities whatsoever (THE NO WARRANTY, DISCLAIMER AND INDEMNITY AND ALL OTHER TERMS AND CONDITIONS HEREIN ARE FULLY APPLICABLE TO THIS SECTION). You are advised to seek professional advice before entering into any transactions. 
   5. We reserve the rights to modify, alter, delete or withdraw the Analytics at any time without notice to you. 
       
6. NO PROFESSIONAL ADVICE 
   1. All news, information, contents and other material displayed on the Website and Services including the Postings and UGM (as defined below) are for your general information purpose only and are no substitute for independent research and/or verifications and should not be regarded as a substitute for professional, legal, financial or real estate advice. 
   2. In particular, you must not treat the Website or the Services as a real estate, property valuation, financial or investment advisory service. The information on the Website and Services is provided on an “as is basis” without taking into account your specific objectives, financial status and particular needs. We ALWAYS recommend that you seek specific independent advice from your estate agents, valuers, financial advisers, lawyers or such other appropriate professionals before acting or relying on the information obtained from the Website and the Services. We will not be held responsible or liable for matters such as information not being timely, inaccuracy of information, improper delivery of information, non-removal of information, or failure to store information. 
       
7. POLL, COMMENTS, FORUM, SURVEY 
   1. The Poll, Comments, Forum, Survey (“PCFS”) provides users an opportunity to post and exchange contents including without limitation information, data, ideas, photos, videos, messages, text, video, music, suggestions, proposals and opinions (the “Postings”). We call the Postings posted to PCFS or Postings submitted or made available for inclusion on the Website by users “User Generated Material” or “UGM”. If you wish to view or participate in a PCFS or submit the Postings on the Website, you must agree and comply with any specific rules posted on the PCFS. 
   2. You represent and warrant that: 
      1. you have all necessary rights in and to all the Postings and UGM you provide and all materials they contain and that the Postings and UGM shall not infringe any third party rights, give rise to any civil or criminal liability or breach any laws; 
      2. by submitting UGM or Postings to us, you agree to grant us and we hereby accept a worldwide, perpetual, irrevocable, sub-licensable, royalty-free, transferable license (including any moral rights or other necessary rights) to use, display, disseminate, distribute, copy, reproduce, adapt, translate, modify, archive, publish, broadcast, communicate to the public, create derivative works and compilations, integrate, commercially exploit the Postings or UGM (whether in part or in whole), in any form, media, format or technology now known or developed subsequently, in a manner as we deem fit, whether on the Website, the Services or otherwise, without any requirement to pay you any compensation or reimbursement of any kind for this and with or without attribution to you. You also waive any moral rights that you may have in regard to the Postings or UGM; 
      3. you acknowledge we may already have similar contents to the Postings or UGM under consideration or in development and if this is the case (as decided by us in our sole discretion), you agree that such contents shall vest solely in us and that you shall have no right whatsoever in the ownership of the intellectual property rights to such contents, whether further developed by us or otherwise. You further undertake not to challenge or question the ownership or validity of such contents developed by us, or to bring any infringement proceedings in relation to such contents against us; 
      4. we will have the right (but not the obligation), at our sole discretion, to refuse to publish, to remove or to block access to any UGM or Postings, at any time and for any reason, with or without notice. 
   3. You are responsible for all the content of any of your Postings or UGM that you or we publish. You are financially responsible to us for any claim against us by any third party that your UGM or Postings is not in accordance with these Terms and Conditions or that otherwise relates to your UGM or Postings. 
   4. You agree that you will: 
      1. only post, link to or otherwise publish UGM or Postings that are your original content and will not infringe the copyright, trade marks, trade secrets, intellectual property rights or other rights of any third party when posting or publishing UGM or Postings. 
      2. not post, link to or otherwise publish any UGM or Postings containing any form of advertising or promotion for goods and services or any spam, junk mail, chain letters, pyramid schemes or any other form of unsolicited communication or unauthorised advertising or commerce, except in those areas that are approved by us. 
      3. not post, link to or otherwise publish any UGM or Postings with recommendations to buy or not buy a particular property, or other investment or which contains confidential information of another party or which otherwise has the purpose or effect of affecting the price or value of any property, or other investment. 
      4. not post, link to or otherwise publish any UGM or Postings that are discriminatory in nature, which make attacks on the grounds of race, religion, sex, gender, sexual orientation, disability or age, harmful, threatening, abusive, libellous, tortious, offensive, harassing, vulgar, obscene, indecent, invasive of another’s privacy, hateful, giving rise to civil or criminal liability, objectionable on the grounds of public interest, public morality, public order, national harmony, or are otherwise objectionable or unlawful. 
      5. if you are challenging different points of view, do so respectfully and not personally attack other commentators or users. 
      6. not disguise the origin of any UGM or Postings, forge headers or manipulate identifiers and not impersonate any person or entity (including our employees or PCFS guests or hosts) or misrepresent any connection or association with any person or entity. 
      7. not post, link to or otherwise publish any UGM or Postings unrelated to the PCFS or the PCFS’s topic. 
      8. not post, link to or otherwise publish any UGM or Postings that contain software viruses, malware, Trojan horses, files, programs or code designed to interrupt, destroy or limit the functionality of the Website, Services or any computer software or equipment. 
      9. not collect, store or harvest other users’ personal data. 
      10. not restrict, disrupt or inhibit any other user from using the PCFS, Website or Services. 
      11. not interfere with or disrupt the Services or another user’s use of the Services, Website or servers or networks connected to the Services, disobey requirements, procedures, policies, guidelines or regulations of network connected to the Services. 
      12. not commit any unlawful, illegal or fraudulent act, whether in relation to any third party service provider of the products and services regarding the Services or Website or otherwise. 
      13. not cache, store, hyperlink to, or frame the whole or any part of the Website or Services without our prior written permission.  
   5. While we may screen, edit or review any UGM or Postings prior to their appearance on the PCFS, we do not undertake to perform such screening, edit or review nor do we endorse or approve the UGM or Postings in any way. As such, the UGM or Postings do not necessarily reflect our views. The PCFS contains UGM or Postings submitted by users over whom we have no control so we cannot therefore guarantee the accuracy, integrity or quality of any UGM or Postings. Some users may not behave properly and may post UGM or Postings that are misleading, untrue or offensive. To the fullest extent permitted by applicable laws, we exclude all responsibility and liability for the UGM or Postings or for any losses, damages, costs or expenses resulting from its use and/or appearance in the PCFS. 
   6. It is not possible for us to fully monitor all UGM or Postings published on the Website and Services but where we have actually received notice of any UGM or Postings that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these Terms and Conditions, then we will review that UGM or Postings, decide whether to remove them or part thereof from the Website and act accordingly. We therefore cannot guarantee that all UGM or Postings will appear on the Website. If you believe that any UGM or Postings published on the Website infringes any legal rights that you may have or is not allowed under these Terms and Conditions, please notify us immediately with specific details. 
8. TIPs 
   1. The Services may include a feature called TIPs, designed to provide answers to questions posed by users on matters associated with property ownership such as home improvement and renovation, repairs, feng shui, etc. Where so included, the following applies. TIPs is a service provided by our selected partners. We do not recommend, endorse, approve, certify or guarantee any advice, information, products, opinion or services provided by or obtained from TIPs and we therefore do not take any responsibility for them. Reference to any specific products, process or service or otherwise in TIPs does not constitute or imply recommendation, endorsement, or favouring by us. 
   2. We recommend that you seek independent advice from the appropriate professionals such as architects, engineers, consultants, lawyers, electricians, plumbers, before acting or relying on the information obtained from TIPs. 
       
9. INTELLECTUAL PROPERTY 
   1. You acknowledge and agree that all intellectual property rights and proprietary rights in all contents and materials inclusive of text, photographs, pictures, images, graphics, videos, audio, sound files, and the selection, layout, arrangement, format and compilation of information, data or search results that form, are part of, contained in or accessed through the Website, the Services or part thereof, and in any enhancements or modifications to, adaptations or translations of, or derivative works based on the foregoing shall be and remain our exclusive property or that of our licensors, as the case may be. No intellectual property or other rights shall be transferred to you. You further acknowledge that the signs, trade marks, service marks, business identifiers and logos on the Website and Services are our trade marks or those of our affiliated or related companies, licensors, suppliers or vendors as the case may be, and you agree not to display or use these marks in manner that is limited or prohibited by us. 
   2. You understand that in the course of operating our Website and Services, we may organise events, campaigns, contests, competitions, awards and the like which involve the use of ideas, concepts, text, photographs, pictures, images, graphics, videos, audio, sound files and tag lines or other materials submitted by you through your participation in the events, campaigns, contests, competitions, awards and the like. You acknowledge and agree that all intellectual property rights and proprietary rights in all such contents and materials submitted by you in relation to such events, campaigns, competitions and the like will be solely owned by us and we reserve the rights to use them in any manner we deem fit without further reference to you. This may include the disclosure of those items, descriptions of the property, your name and other personal details in relation to such activities. You further acknowledge that you will abide by our additional terms and conditions or Rules (where applicable) and that each entry will be individually judged based on skill, relevancy, creativity and originality, as determined by us in our sole discretion. Chance plays no part in determining the winner of such events, campaigns, contests, competitions, awards and the like. 
   3. You further acknowledge and agree that certain contents in the Website or Services may contain sponsored advertisements protected by the respective third parties’ intellectual property rights. 
   4. Except as expressly authorised otherwise by us, our licensees or advertisers in writing, you are granted a limited and non-sublicensable licence to access and use the Website and Services and print the materials available on our Website for your personal, non-commercial and informational use only. We reserve the right, with or without notice and in our sole discretion to terminate your license to use the Website and Services, and to block or prevent future access to and use of the Website and Services. The limited license granted to you does not include the right for you to: 
      1. modify, copy, distribute, disseminate, republish, rent, lease, derive work from or download (unless permitted expressly) any of the material from the Website or Services; 
      2. market, promote, sell or make commercial or derivative use of the Website or any materials from the Website or Services; 
      3. make any reference to our trade marks in a commercial dealing without our prior written consent. 
   5. You do not acquire any rights to any User ID, IP address, and any codes (whether assigned to you or otherwise) and we reserve the right to change any of them at our sole discretion without being liable to you for any damages or losses suffered. 
   6. You are not allowed to use the Website, Services or the materials contained therein to construct, gather, extract or mine for a database of any kind or store the information (in its entirety or in any part) in databases for access by you or any third party or distribute/provide any database services containing all or part of the Website or Services. You may not use the Website or Services in any way to improve the quality of any data sold or contributed by you to any third party. 
   7. Where applicable and when our software is used in connection with the Services (“Software”), we grant you a personal, non-transferable and non-exclusive license to use the object code of the Software on a single computer or device; provided that you do not (and you do not allow any third party to) copy, reproduce, modify, reverse engineer, decompile or reverse assemble or otherwise deal with or transfer the Software or any part of it. You agree not to access the Services by any means other than through the interface that is provided by us for use in accessing the Website or Services. Software in this context may include references to our web apps and web application. 
       
10. NO WARRANTY 
    1. You EXPRESSLY UNDERSTAND AND ACCEPT that your use of the Website and Services is at your own risk and the Services and Website are provided to you on an “as is, as available” basis. Any condition or warranty which may be implied or incorporated within these Terms and Conditions by reason of statute or common law or otherwise (including warranties as to merchantability, suitability, satisfactory quality, fitness for purpose, compliance with description and non infringement) is hereby expressly excluded to the maximum extent legally permissible. Some jurisdictions may not allow disclaimers of implied warranties and certain statements in the aforementioned disclaimer may not apply to you as regards implied warranties. The other terms of the aforementioned disclaimer remain enforceable notwithstanding. 
    2. We, our related and affiliated entities, officers, employees, agents, partners, licensors, suppliers and vendors do not give or make any warranty (express or implied) that: 
       1. any part of the Website, Services or Analytics will be timely, accurate, reliable, secure or complete. Among others, the Internet is, due to unpredictable traffic congestion and other reasons, an inherently unreliable medium of communication and such unreliability is beyond our control. 
       2. any part of the Website, Services or Analytics will be accessible at any time or at all times through the medium, platform, device, channel or format chosen or used by you; 
       3.  any part of the Website, Services or Analytics will be uninterrupted, error-free, virus-free or safe in any manner for browsing or download; 
       4. any products, services, information, content or any other materials purchased, procured or obtained by you through the Website and Services will meet your requirements or expectations. 
    3. Contents displayed on the Website and Services may include materials, views and opinions of third parties which do not necessarily reflect our position. Therefore we cannot and do not guarantee the accuracy or completeness of, nor otherwise endorse, these materials, views and opinions.
    4. Where we provide advertisements of third party products or services on the Website or Services (whether or not by way of hypertext links to another website) we do so for information purposes only, and such advertisements are not endorsements or approval by us of any such products or services and we accept no liability nor make any endorsement or approval of the same. We neither endorse nor approve the contents of the third party websites to which such advertisements are linked and your access to such websites shall be entirely at your own risk and subject to such terms and conditions as may be posted thereon. 
    5. Specific provisions relating to analytics 
       1. The provisions of this Section 10.5 shall, in addition to other provisions of these Terms and Conditions, apply to information provided on the Website in the form of “Analytics”. The Analytics we provide on the Website are intended for your general reference and information only. 
       2. To generate the Analytics, we make use of our proprietary technology to capture, curate, manage and process data and contents from various sources, including the World Wide Web. 
       3. While we have taken care to ensure certain minimum standards are met in preparing and providing the Analytics, no warranty, express or implied, is given as to their accuracy or reliability. 
       4. We do not accept any liability for error or omission, nor will we be held responsible for how the Analytics are used, how they are interpreted or what reliance is placed on them. 
       5. We do not guarantee that the Analytics are fit for any particular purpose.
       6.  We recommend that users exercise their own skill and care with respect to their use of the Analytics provided and that users carefully evaluate the accuracy, currency, completeness and relevance of the Analytics for their purposes.
       7. The Analytics provided are not substitute for independent professional advice and users should obtain appropriate professional advice relevant to their particular circumstances. 
    6. Certain information and statements included in the Website, Services and Analytics are forward-looking. These forward-looking statements are based on certain assumptions and reflect our current expectations and analysis. Consequently, forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially and significantly from current expectations of outcomes. There is no assurance or warranty that any matter in forward-looking statements in the Website, Services and Analytics will materialise. You are advised not to place undue reliance on forward-looking statements and we disclaim any obligation or responsibility to update or revise any forward-looking statements. 
        
11. DISCLAIMER 
    1. YOU EXPRESSLY ACKNOWLEDGE AND AGREE THAT, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAWS, WE FOR OURSELVES AND ON BEHALF OF OUR RELATED OR AFFILIATED COMPANIES, OFFICERS, EMPLOYEES, AGENTS, SUPPLIERS, LICENSORS AND VENDORS EXCLUDE LIABILITY FOR ANY LOSSES, DAMAGES, CLAIMS, COSTS AND EXPENSES OF WHATEVER NATURE AND HOWSOEVER ARISING, INCLUDING WITHOUT LIMITATION ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, LOSS OF USE, LOSS OF DATA, LOSS CAUSED BY A VIRUS, LOSS OF INCOME, PROFITS OR GOODWILL, LOST SAVINGS, LOSS OF OR DAMAGE TO PROPERTY, CLAIMS OF THIRD PARTIES, OR OTHER LOSSES OF ANY KIND OR CHARACTER, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR LOSSES, ARISING OUT OF, IN CONNECTION WITH OR RESULTING FROM THE USE OF OR INABILITY TO USE THE WEBSITE, SERVICES AND ANALYTICS.
    2. Without prejudice to the foregoing, we, our related or affiliated companies, our officers, employees, agents, suppliers, licensors and vendors shall not be liable to you for any losses, damages, claims, costs and expenses whatsoever (including any loss of income, profits or goodwill, lost savings, direct, indirect, special, incidental, consequential or punitive losses or damages) arising out of: 
       1. your use of or inability to use the Website, the Services or any part thereof; 
       2. any error, omission or inaccuracy with respect to any advice or information obtained by virtue of the Website or the Services; 
       3. the inaccuracies, delays, omissions, non-deliveries of information caused by any human/mechanical/electrical fault, omission, breach of contract, negligence or otherwise. 
    3. You expressly acknowledge and agree that the disclaimers and exclusions of liability set forth in these Terms and Conditions represent a fair and reasonable allocation of the risks and benefits of the contract between you and us, taking into account all relevant factors including without limitation the value of the consideration provided by you. You further agree that these disclaimers and limitations shall be enforceable to the fullest extent permitted by applicable law in each of the relevant jurisdictions worldwide. 
        
12. INDEMNITY 
    1. Without prejudice to any of the other provisions of these Terms and Conditions and to any other rights and remedies which we may have at law or equity, you agree, at your own expenses, to indemnify, defend and hold us, our related or affiliated companies, our officers, employees, agents, suppliers, licensors and vendors harmless at all times against all actions, proceedings, costs, claims, expenses (including legal costs on a full indemnity basis), demands, liabilities, losses (whether direct, indirect or consequential) and damages (whether in tort, contract or otherwise) whatsoever (including claims made by third parties) and claims for defamation, infringement of intellectual property rights, death, bodily injury, wrongful use of computers, unauthorised or illegal access to computers (including hacking), property damage or pecuniary losses howsoever arising, which we, our related or affiliated companies, our officers, employees, agents, suppliers, licensors or vendors may sustain, incur, suffer or pay arising out of, in connection with or pursuant to these Terms and Conditions or the use of the Website and the Services whether authorised or not or any act or omission on your part. 
        
13. TERMINATION 
    1. We reserve the right at our sole discretion to immediately terminate your access to and use of the Website and Services without prior notice or providing cause. Cause for such termination shall include without limitation: 
       1. if you fail to comply with any of these Terms and Conditions and Privacy Policy; 
       2. request by law enforcement, other government agencies or pursuant to a court order; 
       3. your failure to make payment of applicable subscription fee; 
       4. your infringement of our intellectual property rights or those of third parties; 
       5. your engagement in any fraudulent, unlawful or illegal activities; 
       6. our discontinuance of or material modification to the Website or Services or part thereof; 
       7. technical, security or other problems; 
       8. extended duration of inactivity of your account; 
       9. a request made by you (self-initiated account deletions); 
       10. you are declared insolvent or bankrupt; 
       11. upon your death. 
    2. Termination of your account may include without limitation any of the following: 
       1. removal of access or usage of any of the offerings within the Website or Services; 
       2. deletion of your account and all related information, files and contents associated with or inside your account (or part thereof); 
       3. prohibition of further access or usage of the Website or Services. 
    3. You agree that all terminations shall be made in our sole discretion and upon termination, your right to use the Website and Services immediately ceases. We shall not be liable to you or to any third party for such termination of your account, any associated email address or access to the Website and Services. You are not entitled to any compensation or indemnity for loss of rights, goodwill or otherwise, as a result of the termination in accordance with these Terms and Conditions.
    4. Where a paid subscription for the Website or Services is terminated, we shall be under no obligation to refund you the whole or any of part of any fees paid by you in advance. 
        
14. NOTICES 
    1. Any notice required or permitted may be made by e-mail properly addressed to the intended recipient, and in the case of notice to us at the e-mail address provided below. 
        
15. ASSIGNMENT 
    1. We may assign, delegate and/or otherwise transfer our rights and obligations hereunder to any person or entity. You may however not assign, delegate or otherwise transfer any of your rights or obligations hereunder without our prior written consent. The contract formed hereunder shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. 
        
16. NO WAIVER 
    1. No failure on our part to exercise, and no delay in exercising, any right, power or provision of these Terms and Conditions shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or provision hereunder preclude the exercise of that or any other right, power or provision. The rights and remedies provided in these Terms and Conditions are cumulative and are not exclusive of any rights or remedies provided by law or equity. 
        
17. SEVERABILITY 
    1. Should any part of these Terms and Conditions be declared invalid or unenforceable by a court of competent jurisdiction, this shall not affect the validity of any remaining portion and such remaining portion shall remain in full force and effect as if the invalid portion of these Terms and Conditions had been eliminated. 
        
18. ENTIRE AGREEMENT 
    1. These Terms and Conditions contain the entire understanding between us with respect to the Website and Services and no representation, statement, inducement oral or written, not contained herein shall bind either of us. 
        
19. CHANGES TO TERMS AND CONDITIONS 
    1. We reserve the right, at our sole discretion, to revise, amend or update any of the provisions of these Terms and Conditions at any time. 
    2. We may from time to time introduce new services. Use of such new services may be governed by specific terms and conditions in addition to these Terms and Conditions. Such specific terms and conditions shall be read together with these Terms and Conditions. 
        
20. GOVERNING LAW & JURISDICTION 
    1. These Terms and Conditions shall be governed by and construed in accordance with the laws of Malaysia and all disputes arising in any way out of or affecting these Terms and Conditions shall be subject to the non-exclusive jurisdiction of the courts of Malaysia, to which the parties agree to submit. 
    2. As the Website and Services may be accessed internationally, the users who access the Website are responsible for compliance with the laws of the jurisdictions from which they access the Website, if and to the extent local laws are applicable. 
        
21. INTERPRETATION 
    1. Section headings in these Terms and Conditions are for convenience only and shall not affect the meaning or interpretation of these Terms and Conditions or any provisions.
    2. Words in the singular include the plural, and vice versa. 
    3. A reference to a person includes a reference to a firm, a body corporate, an unincorporated association or authority. 
    4. A reference to writing includes any method of reproducing words in a legible and non-transitory form, including e-mail.
        
22. PERSONAL DATA PROTECTION POLICY 
    1. Please refer to our Privacy Policy for our personal data protection policy governing our collection and use of personal data. The Privacy Policy shall form part of these Terms and Conditions.
        
23. PLATFORM TERMS 
    1. The specific terms and conditions for the property platform on the Website (“Platform”) are set out in the Platform Addendum to these Terms and Conditions. The Platform forms part of the Website and Services. 
        
24. NOTICE AND TAKEDOWN 
    1. In compliance with the provisions of the Copyright Act 1987 and laws with corresponding provisions in other jurisdictions, we adopt a policy of terminating, in appropriate circumstances and at our sole discretion, subscribers or account holders who are infringing our copyright or those of others. 
    2. If you believe that any of your copyrighted works has been copied and been posted on our Website in a way that amounts to copyright infringements and/or offence under the Copyright Act 1987, please write to us for more information on our policy on the applicable take-down and counter-notices. 

EdgeProp Sdn Bhd 
Level 3 Menara KLK 
No. 1, Jalan PJU7/6, Mutiara Damansara 
47810 Petaling Jaya

PLATFORM ADDENDUM

The descriptions here are subject to the actual terms and conditions of the documentation for the property transactions. Users are required to read and confirm those terms and conditions, which will be provided at the time an order is placed, when the order is placed. We provide the Platform on the basis of no warranties of any kind to users, either express or implied.

1. Overview of the Property Platform

   Access to the Platform for buyers (those persons who are interested in purchasing a property) and contributors (those persons who are interested in participating in the purchase of a property) will be via the Website and/or mobile applications.

   For contributors, the Platform will provide access to his/her portfolio via a personalized dashboard. For buyers, it will provide access to information on the property he/she is purchasing. Users will log-in to the Platform for such access. A Platform user may be a buyer and a contributor at the same time.

   The Platform will have a listing of the properties that a buyer may purchase, and that contributors may contribute to. It will aggregate and display relevant information on the property.

   For the various properties, trading in rights arising from transactions in the property, may also be made available on the Platform (referred to as "secondary trading").

   Property developers and vendors will also have certain access to the Platform for the purposes of listing of properties.

2. How the Platform will work

   I Main functionality
   
   Initial purchase of a property
   
   The Platform will list property that participating property developers and vendors (developers) wish to sell. Full details of the property will be provided on the Platform, including unit, address, development project, location, size (where relevant) as well as purchase price. The developer will be the party responsible for such information, and our responsibility will only be to correctly display the information provided to us. From the listing, a buyer will chose a property he/she wishes to purchase, and contributors will chose a property he/she wishes to contribute to.
   
   The basic arrangement and terms for purchase of and contribution to a property is that the buyer will pay 20%, and the contributors will pay 80%, of the purchase price for the property.
   
   The buyers and contributors will transact on properties through the Platform. Orders they place will be conditional on various conditions being satisfied. Orders and transactions will be subject to the terms and conditions of the Platform, as well as standardised agreements (of which, there may be different versions and terms for different cases).

• A buyer will place his/her order on a property he/she is interested to purchase. He/she will need to make certain payments to us at this stage. Conditions to the order include that there are sufficient contributors on the Platform who wish to contribute to that property purchase, to make up the balance 80% of the purchase price for the property
• A contributor will place his/her order on a property which purchase he/she is interested to participate in. He/she will need to make certain payments to us at this stage. Conditions to the order include (similarly) that there are sufficient contributors on the Platform who wish to contribute to that property purchase, to make up the balance 80% of the purchase price for the property. Orders for contributions will be in pre-determined denominations.

We may also be a contributor, specifically where the purchase price for the property is not exactly a multiple of what orders for it need to be. The buyer of a property may also be a contributor for the property.

There may also be cases where we pre-arrange for the 80% portion to be initially taken up by a single contributor.

If the full amount for the purchase of property is received and all order conditions are met, the purchase of the property will proceed.

Secondary trading

The Platform may list rights arising from transactions in property, that contributors hold and wish to sell. Bids to sell may be made by such existing contributors, and bids to buy may be made by potential contributors. The Platform will match bids that can be matched. The Platform system will verify that persons proposing to sell, hold the rights proposed to be sold; and that persons proposing to buy, have the funds to buy. Where a secondary trade is matched, we will complete the necessary steps, record the transfer, and settle payments for the secondary trade.

Rollover offering

In addition to secondary trading from time to time, offerings of rights arising from transactions in property, that contributors hold and wish to sell may be made at planned intervals. Where applicable, this will be pursuant to a buyer electing to rollover the property transaction. Compared with other secondary trading, such an offering will be based on prescribed terms and be at a prescribed time.

II Structure of transactions

The transactions to be effected to implement the purchase of a property by a buyer will be based on current laws and legal principles presently in force in Malaysia, and current market practice for sale and purchase and sub-sale of properties. An overview of the transactions is set out below.

Option Agreement

1. The developer grants an option to the contributors to purchase the property. Under the terms of the option, the contributors may nominate a nominee as the person to enter into a sale and purchase agreement for the Property ("SPA") upon exercise of the option.

   The person to be so nominated, is the buyer

2. The consideration payable for the grant of the option is equivalent to 20% of the purchase price ("Option Consideration")

3. The exercise price of the option is equivalent to 80% of the purchase price ("Exercise Price").
   
   The option is to be exercised immediately.

4. The developer agrees, upon exercise of the option, to enter into a SPA. 

5. The developer agrees that the Option Consideration and the Exercise Price will be applied towards the purchase price for the property.

Nomination Agreement

1. The contributors agree to nominate the buyer as the person who is to purchase the property upon exercise of the option.  

2. The contributors are to pay the Option Consideration and part of the Exercise Price. The buyer is to pay the remainder of the Exercise Price.

3. The consideration payable for the nomination (“Nomination Consideration”) is payment to the contributors of a specified amount.

4. The buyer is to countersign the exercise notice for the option and enter into an SPA with the developer.  

SPA

1. The developer will enter into the SPA with the buyer for the sale and purchase of the property upon exercise of the option.

2. The developer will issue a written confirmation of the purchase price for the property being satisfied, when so satisfied.

The following diagram sets out a brief illustration of the transactions:

(1) Option Agreement

• Developer grants option to contributors to purchase property with right to nominate
• Payment of Exercise Price and Option is deemed payment of purchase price under the SPA

(2) Nomination Agreement

• Contributors nominate buyer to exercise Option. The contributors are to pay the Option Consideration and part of the Exercise Price. The buyer is to pay the remainder of the Exercise Price.
• Buyer to pay contributors Nomination Consideration on Payment Date

(3) SPA

• Developer and buyer enter into SPA upon exercise of Option 

III Ownership of the property

Under the arrangements, the buyer will be the owner of the property.

• For property with separate issue document of title, the buyer will be the registered owner.

• For property without separate issue document of title, beneficial ownership of the property is evidenced by the SPA between the developer and proprietor of the land (where applicable) (as the seller) and the buyer.

Generally, as owner, the buyer may occupy the property without paying rent. He/she may also rent the property out. The ownership of the property will be subject to security arrangements and restrictions in dealings (described below).

IV Security arrangements and restrictions in dealings

Under the security arrangements,

• For property with separate issue document of title, the buyer as the registered owner will grant a land charge and power of attorney.

• For property without separate issue document of title, the buyer will assign the SPA by way of security.

The security will be held in the name of the Security Agent.

The documentation also contains various ongoing restrictions and requirements imposed on the buyer relating to the property.

V Valuation process

A valuation process will be carried out to ascertain the open market value of the Property (“Market Value”). About 4 ¼ years after the date of the SPA, the Security Agent will appoint an independent and suitably qualified property valuer to carry out the valuation of the Property.

The valuation would be on the basis that no account should be taken of the encumbrances over the property, the arrangements put in place for the property, and the state and condition of the property resulting from the acts or omission of the buyer in breach of the obligations imposed on the buyer. In addition to such deemed value, the valuer will also be instructed to provide its view on actual value (if different). If there is a difference in values, the (higher) deemed value will be used for the purpose of any buying over by the buyer, while the (lower) actual value will be used only as a reference for contributors.

The amount that the buyer is to pay the contributors (ie Nomination Consideration) is based on the Market Value to be so determined.

VI Election by the buyer in 5 year period

The buyer is to make an election, either to:

1. pay the Nomination Consideration in full;

2. rollover and extend the arrangement for a further term of five years (“Rollover”); or

3. request for the property to be sold.

Essentially, the buyer will choose whether to stay on in the property or that it be sold. In making the decision, the Market Value, funds personally available, and any top-up payment on Rollover required, should be among the factors that the buyer takes into account.

• If the buyer chooses to stay on, he/she needs to pay the Nomination Consideration in full; or try to have the arrangement rolled-over. If at this stage, the buyer cannot or does not pay in full, there are two more opportunities for him/her to buy over the property or at least increase his/her notional “equity” in it.

In the case of a Rollover, an opportunity is given to contributors to that property to offer their rights for sale. A Rollover is the default result if the buyer fails to make an election. The offering will be on the Platform, and will be based on prescribed terms and be at a prescribed time. Under this offering, the buyer may also make bids to buy the rights for sale.

• If the Rollover is completed successfully (ie all rights for sale are taken up), depending on the Market Value, the buyer may need to make a top-up payment. Where applicable, this payment will be based on the decreased or increased value of the property (compared with the original purchase price or earlier Rollover value) and the amount needed for the party to maintain his/her notional “equity” in the property compared with the earlier value and taking into the account the manner in which the value is allocated among the parties.

• If the Rollover is not completed successfully (ie not all rights for sale are taken up) the property will be sold. At this stage, the buyer has the last opportunity to buy over the property.

Where the property is to be sold, the buyer is to vacate the property immediately.

VII Exit process for contributors and secondary trading

It is planned that the Platform will enable secondary trading.

Where there is to be a Rollover, the contributor may decide to continue holding his/her rights. In making the decision, the Market Value, personal need for funds, and any top-up payment on Rollover (if successful) required, should be among the factors that the contributor takes into account. Alternatively, the contributor may decide to offer his/her rights for sale. Where applicable, if the contributor knows a top-up payment is required from him/her and he/she cannot or does not want to make the payment, he/she should offer the rights for sale under the Rollover offering (such that the purchaser of such rights will make or bear the top-up payment).

Where the property is to be sold, distribution of proceeds will be based on a waterfall structure ie:

1. contributors first receive their original capital (80% of the purchase price);

2. the buyer then receives his/her original capital (20% of the purchase price);

3. contributors then receive preferential share of the capital gain equivalent to 20% of the purchase price;

4. the remaining capital gain is to be shared proportionately between the contributors and the buyer (i.e. 80% to the contributors and 20% to the buyer).

It should be noted there is no assurance there will be any capital gain at all and the sale proceeds may be less than the original purchase price.

Assuming a purchase price of RM100,000, and the following possible Market Values, the following Table A contains an illustration of the distribution where property is sold, as well as Nomination Consideration if the buyer elects to buy over the property. The amounts do not factor in transaction costs.

Table A

VIII Variety in types and terms of transactions

Uncompleted properties

In addition to completed properties where vacant possession can be delivered to the buyer immediately, the Platform may also list properties which construction has not completed. For uncompleted properties:

• the form of SPA to be used for purchases from housing developers will be as follows as prescribed under the Housing Development (Control and Licensing) Act 1966

  • Schedule G of the Housing Development (Control and Licensing) Regulations 1989 (“HDR”) for individual title properties (i.e. non-strata title)

  • Schedule H of HDR for strata title properties

• it is intended that the purchase price will be paid to the developer as follows:

  • 10% of the purchase price will be paid immediately;

  • another 10% of the purchase price will be paid in accordance with the prescribed payment schedule set out in the form of SPA;

  • the last 80% of the purchase price will be paid within 10 business days after the date of the notice of vacant possession.

Encumbered properties

In some cases, the property or the land on which the property is built will be subject to certain encumbrances. If so, these are usually relating to the debt financing taken out by the developer to fund the cost of the development.

Where this is the case, the developer will obtain and deliver a copy of the redemption statement and undertaking letter issued by the relevant financial institution to discharge the encumbrance over the property once the financial institution has received the amount of redemption sum payable in respect of the property. Arrangements will be made for the redemption sum to be paid directly to the financial institution and the balance of the purchase price of the property will be paid to the Developer.

Sale and leaseback

In some cases, including for purposes of compliance with Syariah principles and where a single contributor has been secured, property may be transacted on the Platform based on a sale and leaseback structure. Under this structure:

• The property is first sold by the developer to the buyer.

• The buyer then sells and transfers beneficial ownership of the property to the contributor.

• The contributor then leases the beneficial ownership (together with rights of occupation) back to the buyer.

Under these arrangements, it may be possible for the terms to provide that the buyer does not pay his/her 20% portion upfront, and that this is also to be initially borne by the contributor. In other words, the contributor could initially pay for and bear the entire 100% portion of the property purchase price. The contributor may offer parts of its rights, under secondary trading.

IX Main transaction documentation

The main transaction terms or documents for a property are as follows:

• Option Agreement

• Nomination Agreement

• SPA

In addition, there are various ancillary terms and documents. There are Platform terms which all users – buyers and contributors – will need to agree to before becoming a user. For each property, a Security Agency Agreement among contributors, the buyer and the Security Agent; and security documents, will be in place.

Copyright in the documentation is asserted by us.

While there will be physical verification of a user before his/her first transaction may proceed, and certain documents will be physically generated and signed, a number of these terms will be agreed to electronically by the user, and pursuant to these Terms and Conditions, the user authorises us and/or the Security Agent to sign documents on his/her behalf. Certain documents will also be subject to formalities such as stamping and registration, particularly the land related documents.  

X Special and notable features

Buyer as contributor

The buyer of a property may also subsequently become a contributor for the property, pursuant to secondary trading or if the buyer purchases rights during the Rollover offering.

The application of terms in respect of contributors is modified in cases where the buyer is a contributor. The main modification is that the buyer will not be permitted to participate in and exercise his/her voting rights as a contributor, in situations where the contributors are to so vote on certain decisions in respect of the property.

NLC approval

Certain properties may be subject to express conditions on the land title, stipulating that State Authority consent is required for any dealing in respect of the property. In addition, the National Land Code 1965 (“NLC”) requires:

• State Authority consent for any acquisition of property or dealings in land by foreigners

• State Authority consent where any person desires to convey or dispose of land or interest in land to a foreigner in a manner other than those specified above

The terms of the arrangement will provide that where consent is required and such consent has not been obtained, the Security Agent has the discretion to deem that the Buyer has elected for the property to be sold. This is the term provided for cases where such consent cannot be obtained during the 5 year period.

Purchase price may not be same in SPA

The purchase price (as listed on the Platform) for the property may not be the same as the price stated in the SPA.

While the purchase price as listed on the Platform (after taking into account any discounts from the developer) will be the price that the parties transact at and which needs to be paid to the developer, the price stated in the SPA may be based on the launch price for the property and be a different price. If so, the purchase price that will need to be paid remains the purchase price as listed on the Platform. After payment is received by the developer, the developer is to provide written confirmation that the purchase price is paid for all purposes.

EPF cases

Where a buyer proposes to purchase the property as an EPF case (where the purchase price is to be paid for in part out of funds held for the buyer in the accounts of the Employees Provident Fund Board), supporting documents will be required of EPF account details and sufficient balance in the account(s). This verification will be required before the buyer places an order. Where the buyer has been successfully verified and so places an order, the Platform listing will indicate that the property is to be purchased as an EPF case.

Where the order is to proceed, the payment date will be deferred for a period of 1 month from the date of the SPA. The buyer will have to make the necessary arrangements for the withdrawal from his/her EPF account and ensure that the payment of his/her portion of the purchase price can be made within this deadline. Failure to make payment within the stipulated period will result in the agreements and arrangements being terminated.

Security Agent as signatory

Under these Terms and Conditions, users appoint the Security Agent to be authorised signatory where physical signature is required on documentation. The authorisation will be represented by the act of the user placing the order or bid on the Platform. The authorisation also extends to communication and notice by the Security Agent on behalf of the user, to other parties of the elections and actions the user has decided to make/take, as indicated by his/her actions on the Platform.

The Security Agent will be authorised to sign and execute any documents and perform any actions required to give effect to the decisions of the user as indication by his/her actions on the Platform. Nonetheless, particularly in the case of the buyer, the user may still be required to physically execute certain documentation personally.

Foreigners as buyers or contributors

The intention is that upon initial launch and for a certain period, there will be a requirement that buyers are Malaysian citizens.

There will not be any requirement that contributors are Malaysian citizens, and these may be foreigners as well as corporations.

Property for Bumiputera buyers

In the case of properties where there is a discount for Bumiputera buyers, this will be indicated in the Platform listing. In which case, if the buyer is a Bumiputera person, the applicable purchase price will be the discounted purchase price and this will either be used to calculate the 80:20 apportionment between the contributors and the buyer, or result in reduction of the buyer portion by the amount of the discount.

Change in tax implications

There may be changes in tax affecting the arrangements during the term of the property transaction. Legislative changes among others, may be made to the kinds of tax, rates of tax or the period of ownership of real property required for exemption from real property gains tax.  

Under the documentation terms, the Security Agent has the general power to reallocate distribution of proceeds arising from the sale of the property in the event of any change in tax.

XI Know-Your-Customer processes

The Know-Your-Customer (KYC) processes involve the following.

Users

A condition to all orders is that the user has been physically verified by us or on our behalf. Physical verification will be with the original national registration identity card or passport, with the user attending in person. This is a one-time requirement, and after complied with, no further physical verification is required for orders placed, unless in exceptional circumstances.

• Where the buyer has indicated he/she is Bumiputera, verification of this status will be based on the name appearing on the original national registration identity card, and/or other relevant supporting documents

• Israeli persons will not be accepted as verified users.

• Corporations may be accepted as contributors. In such case, relevant supporting documents will be required as to the authorised representative of the corporation. It is intended that corporations will not be accepted as buyers.

Where a buyer proposes to purchase the property as an EPF case, supporting documents will be required of EPF account details and sufficient balance in the account(s). This verification will be required before the buyer places an order.

On an exceptional or random basis, further KYC may be conducted on users as follows: bankruptcy/winding up search; CTOS search; request for utilities bills as proof of address; request for income tax details; phone number verification via test calls.

Developers

The following relating to the developer will be obtained, where applicable.

• Corporate and constitutional documents.

• A company search with the Companies Commission of Malaysia.

• A winding up search with the Director General of Insolvency.

• A search with RAMCI credit.

• Copies of land title evidencing ownership and other relevant supporting documents as to the rights of the developer to sell the property.

• Copies of certificate of completion and compliance for the property (if available).

• Copies of housing developer licences and permits.

We do not assume any obligation to conduct physical or other due diligence on properties; nor conduct due diligence on users or developers other than indicated above.

3. Buyers
   
   This is the typical process for buyers.

• You will sign up through the Website as a user. We will verify your email address.

While it is possible for buyers to be joint buyers under the SPA, the Platform account will only be for a single person as user.

• You will place an order for a property. The order is subject to certain conditions being met. Purchase orders for a property are based on orders first received (however, EPF cases may be placed on standby or waitlisted). At this stage, you will be provided full details of the transaction documentation currently applicable at the time, and orders are conditional. An administrative charge applies when you place the order, currently being equivalent to 2% of the value of the order (calculated based on the purchase price for the property). If:
  • your order is finally completed, the amount of the administrative charge
    received will be applied towards payment of the order required from you;
  • the order does not become unconditional, the administrative charge is
    waived; or
  • you withdraw the order, the administrative charge is not waived,
• You will make payment for your order. Such payment must be from a payor who is the user. 

  Where you propose to pay more than the usual 20% portion, the payment you make should be increased. The Security Agent will be a contributor in respect of the additional amount, and after the property transaction is effected, arrange for it to be attributed to you.

  Any failure to make payment in the manner required will result in the order being automatically cancelled.

• You will complete our physical verification process, if not already completed.
• You will provide all information and documents required, if not already provided.
  

  If you propose to purchase the property as an EPF case and this is agreed to in principle by us, the above will need to be completed before you place an order for a property.

• You will execute the property documentation.
• If after making payment for your order, you fail to complete all of the above, you will be responsible for losses and damages suffered by the parties.
• If all conditions for the property transaction are met, we will arrange for the executed property documentation to be effected.
  
  If not all conditions for the property transaction are met within the relevant time, you will be refunded the payment made in accordance with this Platform Addendum.

You should note there is no applicable cooling-off period under which you may withdraw without any administrative charge payable by you or with your obligations terminating at your choice.

4. Order conditions

   The following conditions apply and need to be met within the relevant time for orders for a property.

• The buyer and the contributors for the property have duly completed the respective required process.
• There are sufficient contributors who wish to contribute to the property purchase, to make up the balance 80% of the purchase price for the property.
• Any other additional conditions imposed for the property (including, for a EPF case, successful withdrawal from the buyer’s EPF account).
• We do not notify the parties of a material adverse issue arising or applying, and made known to us, in respect of the property transaction.

We may in our discretion extend the relevant time for conditions to be met.

6. Separate account
   
   Amounts received by us pursuant to orders placed, will be held in a separate bank account maintained with a licensed financial institution in Malaysia, and will be dealt with in accordance with this Platform Addendum.

7. Refunds
   
   Where a refund is applicable, we will refund to you the payment we received without any interest, after deduction of any administrative charges, transaction costs, and subject to any exchange rate loss. Such refund must be to the payor who is the user. 

8. Transaction documentation
   
   Where the property transaction proceeds, it will be governed by the terms and conditions of the transaction documentation. 

9. Complaints
   
   Reports of issues and complaints may be notified to us at our address.

Platform features
The following items on the Platform are part of “Analytics” for the purposes of these Terms
and Conditions and they or their results may not be accurate or complete:
     Calculator functions available on the Platform – values are a result of user input
values and no representation, guidance or advice is given as to the values that
should be input. Resulting values may not be accurate or complete

In addition, these may not be accurate or complete:

the status of property transactions displayed – these are intended to be generally
indicative only

images may include furnished show-unit images as well as artists impressions, which
do not actually apply to the property available which is unfurnished or uncompleted

estimated or targeted completion dates for the property

Certain items or features of the Platform may from time to time be disabled or made
unavailable temporarily or permanently.

10. Risk statements

The factors you should consider before participating in any property transaction include the
following. Your own research, investigation and analysis and obtaining of your own
professional advice (property, financial, tax, legal and other advice) is required to assess the
merits and risks in making your decision.

Buyers
As a buyer you cannot choose to exit earlier than 5 years or multiples of this period.
The arrangements for the property are basically for successive periods of five years.
If you wish to continue to stay on in the property, you will either need to have

sufficient funds to buy it over, or depend on a Rollover being successful, at the
relevant date. At future dates, the values involved for this may have increased if the
value of the property has increased. The rate of increase may be such that the value
is too high for you to afford, even if in the meantime savings from the absence of
monthly instalment payments have been employed in investments, or the property
has been rented out for rental income. You may have to vacate the property if you do
not have sufficient financial resources ie. for a Rollover there are not enough new
contributors to take up the “equity” at the required price, with you then unable to
afford to be the party to take up the balance (or you cannot then afford the top-up
payment).

Further to the initial capital payment of 20%, you may have to bear top-up payments
and various costs and expenses.

Residential property can involve many practical issues. Under the terms of the
arrangement, you are subject to various covenants on the use and maintenance of
the property. If these are breached, the arrangement may be terminated and you are
required to compensate for costs and expenses in restoring the value of the property.
Whether a breach has occurred will be a question of fact and may be subject of
contention and dispute.

Contributors

 You may not recover all or any part of your contribution. No assurance is given as to
any gains which may be made from your contribution.

Your contribution is made by way of a purchase and resale transaction. Among
others, there may be current and future tax implications for you and your involvement
in the property transaction.

Your capacity in relation to the property transaction is as a vendor. You maintain day-
to-day control over your rights arising from the property transaction. Your rights are
several rights and are not held jointly with other contributors. While the Security Agent
acts as a security agent for purposes of holding security over the property for you and
other contributors, it does not act as a trustee (other than in relation to payments and
proceeds it may receive) and its obligations do not extend to active management,
protection or supervision over those rights of yours or the underlying property. As a
contracting party, where required you are the relevant party that is required to enforce
your rights against the buyer (although in practice the need for such action by you
may not arise where the Security Agent has taken action).

The future value of your contribution is dependent to a significant extent on the proper
use and maintenance by the buyer of the property. The property will be in the buyer’s
name, and the buyer will be entitled to occupy or rent out the property. Acts or
omissions by the buyer can have a direct impact on the value of the property.
Compared with a case where the buyer has paid 100% “equity”, the buyer may have
paid only 20%. As his/her vested interest in the value of the property is limited, he/she
may be less inclined to ensure the value is maintained. This is offset to some extent
by any loss in the value being first borne by the buyer, and the buyer beginning to
have increased interest if the value increases sufficiently (by more than 20%).

The buyer or other occupant, may fail to vacate the property even if so required by
the terms of the arrangement.

In the case of dispute with the buyer or his/her failure to comply with the terms of the
arrangement, time and costs and expenses will be required to resolve the dispute.
Where sale and transfer of the property is involved, the proceeds raised and time
required will depend on various factors. All of these may affect the effective return to
you on your capital.

How and at what price you are able to exit from the arrangement will depend on
demand and market factors. As an asset class, generally value of property increases
gradually (if at all) over the medium to long term. A person to be a new contributor
would need to have a longer term view for return on the property. There may not be
liquidity and a ready market for the rights that you hold. This is notwithstanding the
relatively small denominations that secondary trading can be in. If there is a Rollover,
you are able to participate as an offeror (subject to charges and costs), however there
is no assurance your rights will be taken up by a new contributor or the buyer. In such
case, you will need to wait for the process of sale of the property to be completed and
its proceeds distributed.

Relevant parties who are interested in the property transaction may have more
information than you on the buyer or the property. You may not be provided with
information on the buyer or the property which you may regard as relevant for your
decisions.

Secondary trading may not be available. Even where secondary trading is available,
trading may be illiquid and demand may be limited.
General

The value of property is affected by various factors. It may go down as well as up.

The value of a property can be subjective. This depends on matters such as
availability and demand for comparable properties, as well as personal views. Even in
the case of a property within a development with other similar properties, no one unit
is completely identical to another. Differences would tend to increase over time and
through use of the properties after their construction is completed.

The Security Agent may take certain positions in respect of the property transaction,
in addition to acting as security agent. Under the documentation terms, the Security
Agent has certain discretion in this capacity as security agent. It may also be a
contributor, and if so, be directly interested in decisions and exercise of rights it has
as security agent under the documentation terms (which may, while aligned with
interests of other contributors, not be aligned with interests of the buyer). It may also
under certain circumstances, be the party to acquire the property from the buyer. Its
interest in one property may vary from another property.

We or the Security Agent in connection with the Platform may engage advisers,
agents, and other parties that are connected with or related to us or our shareholders
or management.

The Platform may not be available in the future.

11. Complaints

      Reports of issues and complaints may be notified to us at our address.