Please read carefully all the terms and conditions for your bid submission. These terms and conditions apply to the vehicle tender process conducted by Baiduri Finance Berhad for the sale of vehicle(s) listed in the tender notice. By participating in the tender process, the tenderer agrees to comply with these terms and conditions.
1. Eligibility Criteria 1.1. Participation in the tender process is open to individuals who are citizens (Yellow NRIC) and permanent residents (Red or Purple NRIC) of Brunei Darussalam.
1.2. Foreign nationals (Green NRIC) may participate provided they hold a valid employment pass issued by the authorities in Brunei Darussalam.
1.3. Tenderers must be at least eighteen (18) years of age and not older than sixty (60) years of age at the time of bid submission in line with Baiduri Finance Berhad’s internal eligibility requirements, including credit and financing considerations.
1.4. Participation is further restricted to individuals or entities that maintain an active banking or financing facility with Baiduri Finance Berhad and/or Baiduri Bank Sendirian Berhad. Bids submitted by those without such an active facility will not be considered. For the purposes of this clause, an “active facility” refers to an ongoing deposit, credit, or financing relationship in good standing.
1.5. Baiduri Finance Berhad reserves the right to request documentary evidence to verify compliance with the above eligibility criteria. Failure to provide such documentation upon request may result in disqualification.
2. Indicative Tender Price2.1. Baiduri Finance Berhad may publish an indicative price for each vehicle, which serves as a non-binding reference based on prevailing market conditions and internal valuation methodologies. This indicative price does not represent a minimum reserve or an offer to sell at that price.
2.2. The indicative price is provided solely for informational and guidance purposes.
2.3. All bids submitted are subject to Baiduri Finance Berhad’s internal review and discretion. The submission of a bid, whether it is below, equal to, or exceeds the indicative price, does not create any obligation on the part of Baiduri Finance Berhad to accept such bid. Baiduri Finance Berhad retains the absolute discretion, to accept, reject, or disregard any bid, irrespective of its alignment with the indicative price, without assigning any reason or incurring any liability whatsoever to the tenderer.
2.4. The best price reasonably obtainable for the purposes of the Hire-Purchase Act (Chapter 292) shall be determined through a transparent and competitive process. The highest valid bid received may be deemed to satisfy this requirement unless such bid is, in the sole and reasonable opinion of Baiduri Finance Berhad, manifestly unreasonable, commercially unviable, inconsistent with the nature or condition of the asset, or non-compliant with applicable laws, internal policies, or procedural requirements.
3. Sale on an “As Is Where Is” Basis and Inspection 3.1. All vehicles are sold strictly on an “as is where is” basis. Baiduri Finance Berhad makes no warranties, representations, or guarantees regarding their condition, merchantability, roadworthiness, or suitability for a particular purpose. It is the sole responsibility of the tenderer to inspect the vehicle and to conduct necessary searches or due diligence with relevant authorities prior to submitting a bid.
3.2. By submitting a bid, the tenderer acknowledges and confirms that they have either:
- personally inspected the vehicle, or
- voluntarily waived the right to do so.
3.3. Upon award and payment, the successful tenderer shall be deemed to have accepted the vehicle in its existing condition and configuration. No claims, objections, or complaints shall be entertained thereafter regarding its condition, defects, or omissions – whether latent or apparent.
3.4. The tenderer assumes all responsibility for the vehicle post-sale, including any repairs, restoration, or regulatory compliance issues that may arise.
4. Bid Submission 4.1. All bids must be submitted exclusively through the Baiduri Finance Mobile Application (“BFMA”) before the closing time specified in the tender advertisement. Tenders submitted through any other channel or after the deadline will not be entertained.
4.2. The tenderer is solely responsible for ensuring that their submission is complete, accurate, and includes all documentation and information as required by Baiduri Finance Berhad. Any incomplete or non-compliant submissions may be rejected without further notice.
4.3. Tenderers may submit multiple bids for the same vehicle. However, for the purposes of evaluation and award, only the highest valid bid submitted by each tenderer will be considered. All other lower bids submitted by the same tenderer will be disregarded.
4.4. Baiduri Finance Berhad shall not be liable for any technical issues, delays, malfunctions, or failures of the BFMA that may result in failed, incomplete, or delayed submissions. It is the sole responsibility of the tenderer to ensure their bid is successfully submitted within the stipulated time frame.
4.5. The tenderer acknowledges and agrees to assume full responsibility for the successful completion of their bid via BFMA and waives any claim against Baiduri Finance Berhad for issues relating to the submission process, including but not limited to errors, delays, or technical failures.
4.6. By submitting a bid, the tenderer consents to the collection, use, and processing of their personal data by Baiduri Finance Berhad for the purposes of the tender process and any subsequent contractual or compliance obligations. Personal data will be handled in accordance with the Group Privacy Policy and applicable data protection laws of Brunei Darussalam. A copy of the Group Privacy Policy is available at www.baiduri.com.
5. Tenderer Commitment and Conduct5.1. Tenderers are expected to submit bids with genuine interest and the financial capacity to complete the purchase if awarded. This tender process is strictly for committed buyers, and submissions should reflect a serious, bona fide intention to acquire the vehicle offered.
5.2. Baiduri Finance Berhad reserves the right to disqualify or disregard any bids that, in its sole discretion, do not demonstrate a credible commitment, financial capability, or intent to proceed with the purchase.
5.3. Baiduri Finance Berhad further reserves the right to disqualify or exclude any tenderer who:
- fails to make full payment after a successful bid, or
- repeatedly defaults or withdraws after being awarded.
Such tenderers may be barred from participating in future tenders at the sole discretion of Baiduri Finance Berhad.
6. Finality of Bids6.1. Baiduri Finance Berhad reserves the absolute right to accept or reject any bid submission at its discretion.
6.2. Baiduri Finance Berhad further reserves the right to:
- withdraw the vehicle from the tender process at any time prior to award,
- sell the vehicle to a non-tendering party, or
- re-tender the vehicle at a different time or on different terms,
all without prior notice.
In such cases, Baiduri Finance Berhad shall not be liable for any costs, losses, expectations, or reliance by any tenderer arising from such withdrawal or non-award.
6.3. All tenderers acknowledge and agree that the decisions of Baiduri Finance Berhad made under this clause are final and binding without prejudice to any rights available under the law.
7. Notification and Payment7.1. Only successful tenderers will be notified by Baiduri Finance Berhad. Notification will be provided via the contact details submitted through the BFMA. Baiduri Finance Berhad shall not be responsible for any failure of the tenderer to receive the notification due to incorrect or outdated contact information.
7.2. Successful tenderers must confirm their acceptance by making full payment of the awarded bid amount, together with a non-refundable tender fee of BND150, within three (3) working days from the date of notification, during Baiduri Finance Berhad’s normal business hours at its Head Office – Sumbangsih, Beribi.
7.3. All payments must be made directly to Baiduri Finance Berhad. No third parties or brokers are authorised to collect or receive payments on behalf of Baiduri Finance Berhad.
7.4. An official receipt will be issued by Baiduri Finance Berhad as evidence of payment upon full settlement.
7.5. If payment is not received within the stipulated period, the bid will be considered withdrawn, and the vehicle may be awarded to the next highest valid tenderer at Baiduri Finance Berhad’s discretion, or otherwise made available for re-tender or sale to another party without further notice. Such default may also result in disqualification or exclusion under Clause 5.3.
8. Vehicle Collection and Transfer of Ownership8.1. The successful tenderer must collect the vehicle from the Baiduri Finance Berhad’s Stockyard at:
Simpang 236, Lot 25955, Kampung Tungku, Mukim Gadongwithin ten (10) working days from the date of full payment to Baiduri Finance Berhad.
8.2. Failure to collect the vehicle within this period may result in deterioration in condition, for which Baiduri Finance Berhad shall bear no responsibility or liability whatsoever. Upon expiry of the collection period, all risks relating to the vehicle (including loss or damage) shall pass to the successful tenderer, notwithstanding that the vehicle remains in Baiduri Finance Berhad’s possession.
8.3. The successful tenderer is solely responsible for arranging the transfer of ownership of the vehicle with the relevant authority at its own cost. Baiduri Finance Berhad shall not be held liable for any delays, penalties, or administrative issues arising from or in connection with the ownership transfer process. All risks, claims, or liabilities relating to the registration or continued use of the vehicle post-sale shall rest entirely with the successful tenderer.
9. Amendments9.1. Baiduri Finance Berhad reserves the right to amend, modify, vary, or update these Terms and Conditions at any time, at its sole discretion, without prior notice.
9.2. Any such amendments will be posted on BFMA or any other platform as Baiduri Finance Berhad may determine. All changes shall take effect immediately upon publication, unless expressly stated otherwise.
9.3. It is the responsibility of each tenderer to review the Terms and Conditions prior to submitting a bid and to remain informed of any amendments. By submitting a bid after any amendment has been published, the tenderer is deemed to have accepted and agreed to the amended Terms and Conditions in full.
10. Severability10.1. If any provision of these Terms and Conditions is found to be invalid, illegal, or unenforceable, the remaining provisions shall remain in full force and effect.
11. Force Majeure11.1. Baiduri Finance Berhad shall not be held liable for any failure or delay in fulfilling its obligations under these Terms and Conditions due to causes beyond its reasonable control, including but not limited to natural disasters, pandemics, system failures, government actions, or other force majeure events.
12. Governing Law and Jurisdiction12.1. These Terms and Conditions shall be governed by and construed in accordance with the laws of Brunei Darussalam.
12.2. Any dispute arising out of or in connection with these Terms and Conditions shall be subject to the exclusive jurisdiction of the courts of Brunei Darussalam.
