Acknowledgement and Acceptance of General Conditions
Nothing on the IAP is to be construed as an offer or solicitation to invest in the Ventures, or as advice or recommendation with respect to such Ventures. The Company shall not be deemed to endorse, recommend, approve, guarantee, promote or have any form of co-operation with such third parties nor to give any warranty in respect of such information unless otherwise stated by the Company.
Definitions and Interpretations
Account refers to your valid account with the Company in order to use the IAP Services;
Agreement refers to the terms and conditions for access and use of the IAP Services, as modified from time to time;
BNM refers to Bank Negara Malaysia, a statutory body which is governed by the Central Bank of Malaysia Act 2009 (Act 701);
Business Hours refers to twenty-four (24) hours daily, including Saturdays and Sundays and public holidays in Malaysia;
Company refers to IAP Integrated Sdn. Bhd. and includes its subsidiaries and their successors-in-title and permitted assigns and where applicable any of them;
Corporate User refers to a corporation, partnership or business duly registered or incorporated and validly existing under the laws of the jurisdiction of its organization or incorporation and includes its subsidiaries and their successor-in-title and permitted assigns and where applicable any of them using the IAP Services;
IAP Services refers to the internet based electronic facilities and services that the Company provides, will provide or has made available from time to time to you on the IAP;
IAP User refers to any individual or entity using the IAP Services and includes a Corporate User and an Individual User;
Individual User refers to any individual and includes any agents representing such individual in using the IAP Services;
Parties refer to collectively, Individual User, Corporate User, Venture, Sponsoring Banks and the Company, and "Party" shall be constructed accordingly;
Related Agreements refers to any agreements, guidelines, policies, rules and regulations in relation to the IAP or IAP Services including the respective agreements governing the relevant Account(s) as imposed by the Company and/or the respective Sponsoring Banks through the use of the IAP Services;
Sponsoring Banks refers to the duly established banks participating in the IAP Services in relation to the funding provided by investors to the Ventures, as modified from time to time by the Company;
Venture(s) refers to any sole proprietorship, partnership or corporate entity that is listed on the IAP with project(s) for you to invest in; and
You, your or yourself refers to the individual person or the corporate entity who accesses, subscribes to, utilizes or participates in the IAP and/or IAP Services.
a reference to a particular statute, statutory provision or subsidiary legislation is a reference to it as it is in force from time to time taking account of any amendment or re-enactment and includes any statute, statutory provision or subordinate legislation which it amends or re-enacts and subordinate legislation for the time being in force;
references to one gender include all genders and references to the singular include the plural and vice versa;
a "person" include any company, limited liability partnership, partnership, business trust or unincorporated association (whether or not having separate legal personality);
a "company" shall include any company, corporation or body corporate, wherever incorporated; and
a "person" or "company" shall include its or his successors and personal representatives;
any reference to "writing" or cognate expressions includes a reference to telex, cable, facsimile transmission or comparable means of communications;
references to times of day are to Kuala Lumpur time and references to a day are to a period of twenty four (24) hours running from midnight on the previous day;
any banking term not specifically defined or described herein shall be construed with the general practice of banks and financial institutions in Malaysia; and
any term relating to computer technology not specifically defined or described herein shall be construed with the general practice and the trade of computer companies and the information technology industry in Malaysia.
Representations and Warranties
Except as specifically provided herein and to the fullest extent permitted by law, the Company makes no and expressly exclude all and any warranties, representations, guarantees or endorsements, whether express or implied, oral or written, including without limitation to warranties for merchantability, fitness for a particular purpose, accuracy, quality, adequacy, security, availability, reliability, timeliness and/or completeness of the IAP Services and any other service, information, content, or project (including third party products, services, information, content, and project) provided in or through the IAP, or the performance, use and operation of any of the foregoing.
You warrant and represent to the Company that:
for corporate person:
you are a corporation duly registered or incorporated and validly existing under the laws of the jurisdiction of its organization or incorporation;
you are in compliance with all the relevant legislations, laws, and regulations governing you.
for individual person:
you have reached the age of 21;
you are not a bankrupt;
you have not been convicted or is involved in any criminal and/or illegal activities;
Links to Third Party Websites
Intellectual Property, Proprietary Rights and Trademarks
All intellectual property rights including but not limited to trade marks, patent, copyright and designs, whether registered, registrable or otherwise, now or hereafter existing attaching to, contained or incorporated in the IAP or related to the IAP Services (including but not limited to all information, data, material, graphics, files, text sound recordings and the sequence and arrangement of the same) are vested in the Company and/or their respective third party proprietors. Any exploitation or such other use of the said intellectual property rights in any manner whatsoever without the express prior written consent of the Company and/or the third party proprietor, as the case may be, is prohibited.
Copying, reverse engineering, automated browsing, downloading, "mirroring", and the commercial exploitation of the content available on the IAP is strictly prohibited unless with prior written consent by the Company.
Listing of projects by Sponsoring Banks
You agree that the Company relies on the Sponsoring Banks for the information, material, content or advice related to the Ventures or project(s). The Company shall not be liable for the accuracy, description, and/or completeness of any project(s), Ventures or any other information listed or provided by the Sponsoring Banks that may appear on the IAP.
You shall communicate with the Sponsoring Banks directly in relation to any query and/or clarification required in relation to the listing of any projects or Ventures that may appear on the IAP.
Exclusion/Disclaimer/Limitation of Liability
The information and materials in the IAP or provided in relation to the IAP Services, including but not limited to services, projects, information, data, text, graphics, audio, video, links or other items are provided by the Company on an "as is" and "as available" basis. All such materials and information (including text, graphics links or other items) are subject to change without notice, at the Company's sole and absolute discretion.
References to information and material contained in the IAP may include such information and material provided by third parties. The Company advises the User to visit, telephone, e-mail, fax or write to such parties for more information or to confirm the information contained herein.
Except for willful misconduct, the Company does not make any express or implied warranties, representations or endorsements including but not limited to any warranties of title, non-infringement, merchantability, usefulness, operation, completeness, correctness, accuracy, satisfactory quality, reliability, fitness for a particular purpose in respect of the website, the material, information and/or functions therein and expressly disclaims liability for errors and omissions in such materials, information and/or functions. Subject to the above and/or the terms and conditions of the applicable agreements governing the IAP and the IAP Services, reasonable measures have been taken by the Company to ensure the accuracy and validity of all information on the IAP and relating to the IAP Services.
The Company does not warrant or represent that access to or the use of the whole or parts of the IAP, the IAP Services, the materials, information and/or functions contained therein will be provided uninterrupted or free from errors or that any identified defect will be corrected, or that there will be no delays, failures, errors or loss of transmitted information, that no viruses or other contaminating or destructive properties will be transmitted or that no damage will occur to your computer system.
The Company shall not be responsible or liable for any loss caused or damage incurred or suffered by you or any other person as a consequence of accessing, browsing or using the IAP and/or the IAP Services, including without limitation, for any loss or damages howsoever arising whether in contract, tort, negligence, strict liability or any other basis, including without limitation, direct or indirect, special, incidental, consequential or punitive damages, or loss profits or savings arising in connection with:
your use of the IAP and/or the IAP Services;
the IAP and/or the IAP Services not being available;
any access, use or inability to access or use the IAP and/or any other website linked to the IAP;
any failure, delays in transmission, interruption, errors, omission or breakdown of any equipment, system, server software or terminal of the Company or its agents;
attack or interference by any computer virus, corruption, worms or by any person;
failure or delay in the execution of any of the Company's obligations due to any cause beyond the control of the Company including but not limited to causes such as strikes, industrial action, civil disturbances, flood, earthquake, landslides or acts of God or computer, electronic, communications or electrical system failures of any nature whatsoever, malfunction or breakdown, or the interruption, non-supply, breakdown or failure in supply of electricity or power for any length of time;
any inaccuracies, errors, defects of any content of this website or other website linked to this IAP;
any operation malfunction or defect of your computer terminal, systems or software used in accessing the IAP and/or the IAP Services;
the Company acting on instruction transmitted with the use of the Account;
fraudulent or unauthorised instructions, or any loss (including consequential loss), damage or liability whatsoever suffered and/or incurred by you in the event that you have acted fraudulently;
email messages sent to the Company via the internet; and
any corruption, destruction, alteration, loss of, malfunction or error in the course of communications that may affect the accuracy or timeliness of messages, instructions or any data or information in the course of transmission which it has no control over.
This exclusion clause shall take effect to the fullest extent permitted by law.
You agree to indemnify and keep the Company, its employees, agents and Sponsoring Banks fully indemnified from and against any and all claims, losses, liabilities, cost and expenses (including but not limited to any legal fees) arising directly or indirectly or which may arise out of or due to:
your use, purported use or misuse of the contents of the IAP and any hyperlinked websites and the services provided therein.
Your obligations and liabilities shall continue to be valid and binding for all purposes whatsoever notwithstanding any change by amalgamation, reconstruction or otherwise which may be made in the constitution of either the Company or by you or by any company by which the business of either the Company and you may for the time being be carried on and shall be available to the company carrying on the business for the time being.
The information, material, content, advice or projects described or offered in the IAP are not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject the IAP and the IAP Services to any restriction within such jurisdiction or country.
You are advised to conduct your own research and seek independent legal, financial or other advice as you deem necessary at all times before making any decision based on any such information, material, content or advice.
Your use and access to the IAP may be terminated or suspended whether in part or whole by the Company and/or the Sponsoring Banks at any time subject however to the Company having given you a notice.
By electronic mail to your last known e-mail address in the Company's records and such notification shall be deemed received twenty four (24) hours after sending.
By being displayed in the Company's premises and such notification shall be deemed effective upon such display.
By way of advertisement made once in any national newspaper and such notification shall be deemed effective on the date of publication of the advertisement in any such newspaper.
Posting a message on the IAP and/or through the IAP Services (whichever the case maybe).
By ordinary post to your last known address in the Company's records and such notifications shall be deemed received two (2) days after posting.
If notified to you in any other manner as the Company deems fit.
Head, Information System & Operations
You acknowledge that you will not hold yourself out as an agent, partner or co-venturer of the other Parties and that this Term of Use is not intended and do not create an agency, partnership, joint venture or any other type of relationship except the contractual relationships established hereby.
Acknowledgement and Acceptance
Part II sets out the terms and conditions governing your use of the IAP Services provided by the Company to you, subject to your fulfilling the requirements set forth in this Part II, in order to enable you to electronically access and use your Account and other facilities, products and/or services as made available by the Company and/or any of its subsidiaries, affiliates and/or business partners.
You acknowledge that the first time you apply to enroll for IAP Services, you shall be deemed to have read, understood and agreed to be bound by this Part II and you further acknowledge and accept all inherent risks associated in conducting any transactions over the Internet or such other electronic medium approved by the Company.
You agree to abide by the terms and conditions of this Part II in your access and use of IAP Services.
Application and Enrolment into IAP
Application for subscription and transaction under the IAP Services shall be subject to your maintaining an existing and valid Account with the Company and further subject to such eligibility criteria that the Company shall deem fit and determine from time to time, in its sole and absolute discretion. The Company is not obliged to provide reasons for any rejection of your application.
Procedure for Enrolment and Access to IAP
To enroll for the IAP Services:
You are required to choose the option of registering as an Individual User or a Corporate User.
You are required to fill in the information required by the Company and provide, inter alia, a username unique to you, password to be used upon logging into your Account and a secure word. To activate the Account, you may do so via an email that is sent to you by the Company to acknowledge a successful registration.
You may also be required to provide the Company with certain information as may, in the Company's sole opinion, be required in order to effectively provide the IAP Services which may include, inter alia, name, identification type, company registration numbers, date of birth, gender and contact numbers, wherever applicable.
After completion of the requisite steps detailed above and the on screen confirmation, by you, of the details so provided, your access to IAP Services will, subject to the terms herein, be activated.
Statements, Confirmation and Advice
Updating Of User's Particulars
You shall promptly notify the Company in writing or by such other means as the Company deems acceptable of any changes or variations in your personal particulars and the Company shall be entitled to assume that there have been no changes or variations until the Company has received notice thereof given by you. Provision of such particulars during the enrollment process in IAP Services does not deem automated updating of your personal particulars.
Responsibility/Covenants for Users
You accept full responsibility and shall furnish the Company with complete, accurate and timely data, information and instructions in relation or in connection with any transactions and performance of any transactions made through the IAP Services.
You shall observe all reasonable propriety and etiquette in your communications with the Company and shall not communicate any obscene or defamatory information to the Company whether through the IAP Services, or otherwise.
You shall not initiate any claims, actions or suits against the Company, for any unauthorized use of your Account, whether as a result of security measures being compromised or otherwise.
You shall not interfere with the access to and use of the IAP Services by other Individual User(s) or Corporate User(s) and you shall not use the IAP Services for any purpose other than conducting authorized transactions pertaining to your Account.
You shall not hack, attempt to hack or gain unauthorized access, whether directly or indirectly, into the IAP Services or other Accounts and/or for any purpose whatsoever.
Availability of IAP Services
The IAP Services is intended to be made available during Business Hours. However, you acknowledge that at certain times some or all of the IAP Services may not be accessible due to system maintenance, malfunctions, system failures or other reasons or cause which are beyond the control of the Company. You acknowledge that notwithstanding any provisions herein the Company does not warrant that the IAP Services will be available at all times without interruption.
Instructions and Authorizations
You hereby irrevocably agree and authorize the Company to comply with instruction(s) given by yourself in respect of the IAP Services including but not limited to authorizing the Company to transact any instructions to the Sponsoring Banks, for and on your behalf.
The Parties agree that all instructions and or communications sent electronically to or by the Company which meet the operating standards and requirements of the Company shall be deemed to be as good as, and given the same effect, as written and/or signed documentary communications, and the Company shall not be obligated to check the accuracy of the instructions.
You agree that any instruction(s) received by the Company after the successful use of your username and password by you or someone purporting to be you shall be deemed to have been issued by you notwithstanding that such instruction(s) may have been issued by a third party, whether authorized or otherwise. You agree that such instruction(s) should be binding on you upon their transmission to the Company.
You agree that the Company shall be entitled to act on any instruction transmitted after the successful use of your username and password by you or someone purporting to be you or by any third party whether authorized or unauthorized, and you agree that the Company shall not be liable for any loss which you and/or any third party may incur by the Company by so doing.
have any reason to believe, is aware, or suspects that an instruction has not been accurately or completely received by the Company, including without limitation, any mistaken, fraudulent, or unauthorized instructions; or
receive any incomplete or inaccurate data or information from the Company of any and all instructions, transactions, or other use under the IAP Services;
you shall inform the Company by telephone immediately and in any case not later than twenty four (24) hours after transmission of the relevant instruction(s) by yourself. The Company may, at its sole and absolute discretion, (but shall not be obligated to) agree to revoke, cancel, reverse or otherwise amend any earlier instruction of yourself.
Any instruction transmitted by you after the relevant cut-off time on any day, as maybe determined by the Company, will be posted in the books and records of the Company on or for the next business day following the date of instruction.
The Company does not warrant the accuracy of any information pertaining to the Account(s) as reported through the IAP Services.
You acknowledge that any information pertaining to the Account(s) as reported through the IAP Services may not always be completely up to date as there may be transactions and/or instructions which, without limiting the generality of the foregoing, have yet to be processed by the Company, require verification of the Company or are in progress.
You acknowledge that any information reported through the course of using the IAP Services is accurate and that the Company shall not have any responsibility or accountability as to the accuracy of such information.
You acknowledge that the Company and/or the Sponsoring Bank shall not be responsible for your reliance on any information reported by any third party through the course of using the IAP Services.
Fees and Charges
Fees and Charges
You agree and accept that the Company reserves its rights at its sole and absolute discretion to impose certain fees such as the registration fee, the venture listing fee, or any other fee as maybe determined by the Company in which the Company may deem fit from time to time in respect of or in connection with the IAP Services. Notwithstanding the foregoing, access to the IAP Services is currently provided free of charge for the registration fee until further notice. For the avoidance of doubt, any changes to the service fees and/or transaction charges shall be notified to the Users through the IAP.
All such service fees or transactional charges payable shall be inclusive of the applicable tax, levies, stamp duties, governmental charges, or other charges, including but not limited to the Goods and Services Tax ("GST").
Disclosure of Information
Whilst the Company is committed to take reasonable care and use its best endeavors to ensure that information transmitted and received is secure, you acknowledge the risks involved in using the internet and that the Company cannot guarantee the security of the said information and that it may not be accessed by unauthorized third parties. You further agree not to hold the Company responsible or liable for any loss or damage suffered arising from the disclosures as specified herein.
The Company is entitled to terminate, suspend, and/or restrict your Account, at its sole and absolute discretion, should any one (1) or more of the following occur:
you cease to maintain any Account(s) with the Company which can be accessed via the IAP Services; or
you have provided the Company with false or incomplete information for access to or use of the IAP Services; or
your access to your Account and IAP Services is restricted by the Company, or any other party for any reason; or
you have become, threaten, or resolve to become or is in jeopardy of becoming subject to any form of insolvency administration or bankruptcy proceedings (where applicable).
You may terminate your Account(s) by giving prior written notice to the Company. Your Account will be cancelled within seven (7) days from the date of the Company's receipt of the said notice of termination and you hereby agree not to use the IAP Services and further agree that the Company shall not be obliged to effect any of your instructions received on any day falling after the receipt of your notice of termination.
Notwithstanding anything herein to the contrary, the Company may at any time, in its sole and absolute discretion terminate, suspend, and/or restrict your right of access to the IAP Services or any portion of it without notice and without any obligation to give any reasons therefore or for any reason whatsoever.
For the avoidance of doubt, you acknowledge that termination shall not affect your liability or obligations in respect of any instructions under the IAP Services processed by the Company on your behalf. Furthermore, you agree and acknowledge that you shall not hold the Company liable for any loss, which you may suffer as a result of such termination.
Removal of Sponsoring Banks
The Company may, at any time and from time to time, without prior notice and at its absolute discretion, withdraw any of the Sponsoring Banks from its list or amend its list of Sponsoring Bank(s) without assigning any reason thereof and you agree that the Company shall not be liable for any loss or damage which you may suffer as a result of the Company's actions including failure to communicate any instructions or make pending payment(s) due to the withdrawal or removal of such Sponsoring Banks.
You acknowledge that each Sponsoring Bank(s) may have requirements as to the procedures of settling their respective payment, as to when payment are to be effected and the terms applicable to such payments. You hereby agree to abide by the requirements and terms and conditions of each Sponsoring Bank(s) in respect of settling their respective payment, as may be varied from time to time.