PRELIMINARY

You shall read and understand the following Terms & Conditions of Service before using this Site or opening an account (hereinafter referred to as “Account”) so that you are aware of your legal rights and obligations with respect to our company and its affiliates and subsidiaries. The “Services” we provide or make available include the followings:

(a) the Site;

(b) the services provided by the Site and by Credantial client software made available through the Site; and/or

(c) all information, linked pages, features, data, text, images, photographs, graphics, music, sounds, video (including live streams), messages, tags, contents, programming, software, application services (including, without limitation, any mobile application services) or other materials made available through the Site or its related services (hereinafter referred to as “Contents”).

Any new features added to or augmenting the Services are also subject to these Terms & Conditions of Service. These Terms & Conditions of Service govern your use of Services provided by Credantial.

The Services include an online platform service that provides a place and opportunity for the sale of debts between the buyer (hereinafter referred to as “Buyer”) and the seller (hereinafter referred to as “Seller”). The actual contract for sale is directly between the Buyer and the Seller (hereinafter referred to as “the Formal Contract”) and Credantial is not a party to that or any other contract between the Buyer and the Seller and accepts no obligations in connection with any such contract. The Formal Contract shall be formalised and executed by the Buyer and the Seller within 14 working days from the Bidding Date. The Seller reserves the right not to complete the sale before execution of the Formal Contract and there shall be no legal recourse from the Buyer against the Seller and Credantial. The Buyer and the Seller will be entirely responsible for the sales contract between them, the listing of debts, warranty of purchase and the like. Credantial is not involved in the transaction between the Buyer and the Seller. Credantial may or may not pre-screen Users or the Contents or information provided by the Buyer and the Seller. Credantial reserves the right to remove any Contents or information posted by you on the Site. Credantial cannot ensure that the Buyer and the Seller will actually complete a transaction in which event Credantial shall accept no obligations in connection with this.

Before becoming a Buyer and Seller of the Site, you must read and accept all of the terms and conditions in, and linked to, these Terms & Conditions of Service and you must consent to the processing of your personal data according to our policy.

Credantial reserves the right to change, modify, suspend or discontinue all or any part of this Site or the Services at any time or upon notice as required by local laws. Credantial also reserves the right to disallow the Buyer from participating in the bidding process. Credantial may release certain Services or their features in a beta version, which may not work correctly or in the same way the final version may work, and Credantial shall not be held liable in such instances. Credantial may also impose limits on certain features or restrict your access to parts of, or the entire, Site or Services in its sole and absolute discretion and without notice or liability.

Credantial reserves the right to refuse to provide you access to the Site or Services or to allow you to open an Account for any reason whatsoever.

PRIVACY

Account and/or your use of the Services (hereinafter referred to as “the User Information”). By using the Services or providing information on the Site, you:

(a) consent to Credantial’s collection, use, disclosure and/or processing of your Contents, personal data and User Information as described in our policy; and

(b) shall not, whether directly or indirectly, disclose your User Information to any third party, or otherwise allow any third party to access or use your User Information, without Credantial’s prior written consent.

RESTRICTION

Credantial grants you a limited and revocable license to access and use the Services subject to these Terms & Conditions of Service. All proprietary Contents, trademarks, service marks, brand names, logos and other intellectual property (hereinafter referred to as “Intellectual Property”) displayed in the Site are the property of Credantial and where applicable, third party proprietors identified in the Site. No right or licence is granted directly or indirectly to any party accessing the Site to use or reproduce any Intellectual Property, and no party accessing the Site shall claim any right, title or interest therein. By using or accessing the Services you agree to comply with the copyright, trademark, service mark, and all other applicable laws that protect the Services, the Site and its Contents. You agree not to copy, distribute, republish, transmit, publicly display, publicly perform, modify, adapt, rent, sell, or create derivative works of any portion of the Services, the Site or its Contents. You also may not, without our prior written consent, mirror or frame any part or whole of the contents of this Site on any other server or as part of any other website. In addition, you agree that you will not use any robot, spider or any other automatic device or manual process to monitor or copy our Contents, without our prior written consent (such consent is deemed given for standard search engine technology employed by Internet search websites to direct Internet users to this website).

SOFTWARE BELONGING TO CREDANTIAL

Any software provided by us to you as part of the Services is subject to the provisions of these Terms & Conditions of Service. Credantial reserves all rights to the software not expressly granted by Credantial hereunder.

ACCOUNTS AND SECURITY

Some functions of our Services require registration for an Account by selecting a unique user identification (hereinafter referred to as “User ID”) and password, and by providing certain personal information. If you select a User ID that Credantial, in its sole and absolute discretion, finds offensive or inappropriate, Credantial has the right to suspend or terminate your Account without notice. You may be able to use your Account to gain access to other products, websites or services to which we have enabled access or with which we have tied up or collaborated. Credantial has not reviewed, and assumes no responsibility for any third party contents, functionality, security, services, privacy policies, or other practices of those products, websites or services. If you do so, these Terms & Conditions of Service for those products, websites or services, including their respective privacy policies, if different from these Terms & Conditions of Service and/or our Privacy Policy, may also apply to your use of those products, websites or services.

You agree to adhere to the followings:

(a) keep your password confidential and use only your User ID and password when logging in;

(b) ensure that you log out from your account at the end of each session on the Site;

(c) immediately notify Credantial of any unauthorised use of your Account, User ID and/or password; and/or

(d) ensure that your Account information is accurate and up-to-date. You are fully responsible for all activities that occur under your User ID and Account even if such activities or uses were not committed by you. Credantial will not be liable for any loss or damage arising from unauthorised use of your password or your failure to comply with this Section.

You agree that Credantial may for any reason, in its sole and absolute discretion and with or without notice or liability to you or any third party, immediately terminate your Account and your User ID, remove or discard from the Site any Contents associated with your Account and User ID, withdraw any subsidies offered to you, cancel any transactions associated with your Account and User ID, temporarily or in more serious cases permanently withhold any sale proceeds or refunds, and/or take any other actions that Credantial deems necessary. Grounds for such actions may include, but are not limited to, actual or suspected

(a) extended periods of inactivity;

(b) violation of the letter or spirit of these Terms & Conditions of Service;

(c) illegal, fraudulent, harassing, defamatory, threatening or abusive behaviour;

(d) having multiple user accounts; and/or

(e) behaviour that is harmful to other Users, third parties, or the business interests of Credantial. Use of an Account for illegal, fraudulent, harassing, defamatory, threatening or abusive purposes may be referred to law enforcement authorities without notice to you. If a legal dispute arises or law enforcement action is commenced relating to your Account or your use of the Services for any reason, Credantial may, in its sole and absolute discretion and without notice, terminate your Account immediately with or without notice.

Users may terminate their Account if they notify Credantial in writing (including via email at support) of their desire to do so. Notwithstanding any such termination, Users remain responsible and liable for any incomplete transaction (whether commenced prior to or after such termination), shipment of the product, payment for the product, or the like, and Users must contact Credantial after he or she has promptly and effectively carried out and completed all incomplete transactions according to these Terms & Conditions of Service. Credantial shall have no liability, and shall not be liable for any damages incurred due to the actions taken in accordance with this Section. Users waive any and all claims based on any such action taken by Credantial.

USE OF THE SITE

The license for use of this Site and the Services is effective until terminated. This license will terminate as set forth under these Terms & Conditions of Service or if you fail to comply with any term or condition of these Terms & Conditions of Service. In any such event, Credantial may, in its sole and absolute discretion and without notice, effect such termination with or without notice to you.

You agree not to:

(a) violate any laws, rules, third party rights or our Policy; and

(b) use the Services or upload Contents to impersonate any person or entity, or otherwise misrepresent your affiliation with a person or entity.

You understand that all Contents, whether publicly posted or privately transmitted, is the sole responsibility of the person from whom such Contents originated. This means that you, and not Credantial, are entirely responsible for all Contents that you upload, post, email, transmit or otherwise make available through the Site. You understand that by using the Site, you may be exposed to Contents that you may consider to be offensive, indecent or objectionable. To the maximum extent permitted by the applicable laws, under no circumstances will Credantial be liable in any way for any Contents, including, but not limited to, any errors or omissions in any Contents, or any loss or damage of any kind incurred as a result of the use of, or reliance on, any Contents posted, emailed, transmitted or otherwise made available on the Site.

You acknowledge that Credantial shall have the right (but not the obligation) in their sole and absolute discretion to pre-screen, refuse, delete, stop, suspend, remove or move any Contents, including without limitation any Contents or information posted by you, that is available on the Site without any liability to you. Without limiting the foregoing, Credantial shall have the right to remove any Contents. We may also block delivery of a communication (including, without limitation, status updates, postings, messages and/or chats) to or from the Services as part of our effort to protect the Services or our Users, or otherwise enforce the provisions of these Terms and Conditions. You agree that you must evaluate, and bear all risks associated with, the use of any Contents, including, without limitation, any reliance on the accuracy, completeness, or usefulness of such Contents. In this regard, you acknowledge that you have not and, to the maximum extent permitted by the applicable laws, may not rely on any Contents created by Credantial or submitted to Credantial, including, without limitation, information in the Site.

You acknowledge, consent to and agree that Credantial may access, preserve and disclose your Account information and Contents to any legal, regulatory, or governmental authority, the relevant rights owner, or other third parties if required to do so by law pursuant to an order of a court or lawful request by any governmental or regulatory authority having jurisdiction over Credantial or in a good faith belief that such access preservation or disclosure is reasonably necessary to:

(a) comply with legal process;

(b) enforce these Terms & Conditions of Service;

(c) respond to claims that any Contents violates the rights of third parties, including intellectual property rights;

(d) respond to your requests for customer service; and/or

(e) protect the rights, property or personal safety of Credantial, its Users and/or the public.

NON-COMPLIANCE

Violations of this policy may result in a range of actions, including but not limited to deletion, amendments, removal, criminal proceedings, civil actions and others as Credantial deems appropriate.

SELLER’S RESPONSIBILITIES

The Seller shall properly manage and ensure that all relevant information such as the price and the details of debts and terms and conditions for sales are accurate and not misleading.

The Seller, and not Credantial, is entirely responsible for all Contents that you upload, post, email, transmit or otherwise make available through the Site.

The Seller shall issue receipts, credit card slips or tax invoices to the Buyer on request.

The Seller acknowledges and agrees that the Seller will be responsible for paying all taxes, customs and duties for the debts sold and Credantial cannot provide any legal or tax advice in this regard. As tax laws and regulations may change from time to time, the Sellers are advised to seek professional advice if in doubt.     

TRANSACTION FEES

Credantial charges a fee for any attempts by the Seller to list its debts on the Site (hereinafter referred to as “Transaction Fee”). The Transaction Fee, which is payable by the Seller to Credantial, will be notified to the Seller upon formally engaging Credantial.  The Transaction Fee is subject to tax of the applicable laws of the relevant country (hereinafter referred to as “Tax Amount”), and the Seller is responsible for such Tax Amount.

Credantial shall be authorised to instruct the Buyer to deduct sufficient amount from the Purchase Price and to pay such amount directly to Credantial being payment for the Transaction Fee.

DISPUTES

In the event a problem arises in a transaction, the Buyer and the Seller agree to communicate with each other first to attempt to resolve such dispute by mutual discussions, which Credantial will attempt to facilitate.

Each Buyer and Seller covenants and agrees that it will not bring suit or otherwise assert any claim against Credantial in relation to any transaction made on the Site or any dispute related to such transaction.

DISCLAIMERS

The services are provided “as is” and without any warranties, claims or representations made by Credantial or any kind either expressed, implied or statutory with respect to such services.

The Buyer and the Seller acknowledge that the ENTIRE risk arising out of the use or performance of the site and/or the services remain with the Buyer and the Seller to the maximum.

EXCLUSIONS AND LIMITATIONS OF LIABILITY

The Credantial shall not be liable whether in contract, warranty, tort (including but not limited to negligence, product liability, strict liability or other theory, formula or others) or other cause of action at law based on any reasons whatsoever.

YOUR CONTRIBUTIONS TO THE SERVICES

By submitting Contents for inclusion on the Services, you represent and warrant that you have all necessary rights and/or permissions to grant the licenses below to Credantial. The Buyer and the Seller further acknowledge and agree that you are solely responsible for anything you post or otherwise make available on or through the Services, including, without limitation, the accuracy, reliability, nature, rights clearance, compliance with law and legal restrictions associated with any Contents contribution.

YOUR REPRESENTATIONS AND WARRANTIES

You represent and warrant that:

(a) you possess the legal capacity (and in the case of a minor, valid parent or legal guardian consent), right and ability to enter into these Terms & Conditions of Service and to comply with them; and

(b) you will use the Services for lawful purposes only and in accordance with these Terms & Conditions of Service and all applicable laws, rules, codes, directives, guidelines, policies and regulations.

UNDERTAKING CUM INDEMNITY

The Buyer and the Seller undertake to indemnify, defend and hold harmless Credantial, and its shareholders, subsidiaries, affiliates, directors, officers, agents, co-branders, solicitors, legal personnel, or other partners, and employees (hereinafter collectively referred to as “the Indemnified Parties”) from and against any and all claims, actions, proceedings, and suits and all related liabilities, damages, settlements, penalties, fines, costs and expenses (including, without limitation, any other dispute resolution expenses) incurred by any Indemnified Party arising out of or relating to:

(a) any transaction made on the Site, or any dispute in relation to such transaction (except where Credantial is the Seller in the transaction that the dispute relates to);

(b) the hosting, operation, management and/or administration of the Services by or on behalf of Credantial;

(c) your violation or breach of any term of these Terms & Conditions of Service or any policy or guidelines referenced herein;

(d) your use or misuse of the Services;

(e) your breach of any law or any rights of a third party; and/or

(f) any Contents uploaded by you.

SEVERABILITY

If any provision of these Terms & Conditions of Service shall be deemed unlawful, void, or for any reason unenforceable under the law of any jurisdiction, then that provision shall be deemed severable from these terms and conditions and shall not affect the validity and enforceability of any remaining provisions in such jurisdiction nor the validity and enforceability of the provision in question under the laws of any other jurisdiction.

GOVERNING LAW

This Agreement shall be governed by and be construed in accordance with the laws of Malaysia and the parties hereto agree to submit to the non-exclusive jurisdiction of the Courts of Malaysia.

GENERAL PROVISIONS

Credantial reserves all rights not expressly granted herein.

Credantial may modify these Terms & Conditions of Service at any time by posting the revised Terms & Conditions of Service on this Site.

Nothing in these Terms & Conditions of Service shall constitute a partnership, joint venture or principal-agent relationship between you and Credantial, nor does it authorise you to incur any costs or liabilities on Credantial’s behalf.

The failure of Credantial at any time or times to require performance of any provision hereof shall in no manner affect its right at a later time to enforce the same unless the same is waived in writing.

The terms set forth in these Terms & Conditions of Service and any agreements and policies included or referred to in these Terms & Conditions of Service constitute the entire agreement and understanding of the parties with respect to the Services and the Site and supersede any previous agreement or understanding between the parties in relation to such subject matter. The parties also hereby exclude all implied terms in fact. In entering into the agreement formed by these Terms & Conditions of Service, the parties have not relied on any statement, representation, warranty, understanding, undertaking, promise or assurance of any person other than as expressly set out in these Terms & Conditions of Service. Each party irrevocably and unconditionally waives all claims, rights and remedies which but for this Section it might otherwise have had in relation to any of the foregoing. These Terms & Conditions of Service may not be contradicted, explained or supplemented by evidence of any prior agreement, any contemporaneous oral agreement or any consistent additional terms.