Gamuda Land Repeat Purchase Reward Terms & Conditions (T&C)

Gamuda Land Repeat Purchase Reward Terms & Conditions (T&C)

  1. The following criteria must be fulfilled in order to be considered as an Existing Property(ies):-
    1. the Existing Property(ies) must be purchased directly by the purchaser(s) of GL Group from any developers under GL Group. “GL Group” shall mean any company within Gamuda Berhad, its subsidiaries, associates, jointly controlled entities and affiliates (“Gamuda Group”) which are involved in property development business;
    2. the Existing SPAs (as hereinafter defined) must not be terminated for any reason whatsoever; and
    3. the Existing SPAs (as hereinafter defined) must be dated on or after 1st January 2000.
  2. For the Purchaser(s) to be eligible for the GLRBR:-
    1. the Purchaser(s) must have fulfilled all the criteria in T&C 1. If the sale and purchase agreement entered between the Purchaser(s) and the Developer for the New Property (“New Property SPA”) consists of joint-names, at least one (1) of the Purchaser(s) must have fulfilled all the criteria in T&C 1;
    2. the Developer shall exclude any project(s):-
      1. developed outside Malaysia;
      2. developed by Gamuda GM Klang Sdn Bhd; and
      3. developed by Gamuda GM Sdn Bhd;
    3. the Purchaser(s) did not purchase the New Property from any third party entities/companies appointed/engaged by GL Group including but not limited to real estate agents;
    4. the New Property must not be categorized as “Rumah Selangorku (RSKU)” and/or affordable homes by the Developer;
    5. the New Property is not purchased under the “Special Purchase Scheme” offered to the employees of GL Group; and
    6. the New Property SPA is dated after 1st August 2018.
  3. Within thirty (30) days from the date of offer to purchase of the New Property by the Purchaser(s):-
    1. this form must be completed and signed by the Purchaser(s);
    2. this form must be acknowledged receipt by the Developer; and
    3. a copy of the sale and purchase agreement between any developer under GL Group and the purchaser(s) for the respective Existing Property(ies) (“Existing SPAs”) and duly stamped as proof of the purchaser(s)’ purchase or any other relevant documents must be submitted to the Developer, if required.
  4. The Purchaser(s) must have executed the New Property SPA and such other documents required by the Developer:-
    1. if there is an Incentive Letter, within the time frame as set out in the Incentive Letter; or
    2. if either:-
      1. there is no Incentive Letter; or
      2. there is no time frame provided in the Incentive Letter;

    within thirty (30) days from the date of the offer to purchase.

  5. Subject to the Purchaser(s) compliance of this T&C, the GLRBR will be calculated based on the formula below:-
    X = Y x Z
    whereby:-
    X = the GLRBR;
    Y = the SPA Net Price as set out in Part B above. For avoidance of doubt, “SPA Net Price” shall be defined as the New Property SPA purchase price less any discounts and/or applicable rebates given by the Developer under any incentive letter and/or any other deductions in zany other way whatsoever provided by the Developer and/or GL Group; andZ = the GLRBR percentage as set out in the table below:-

    Tier Total Existing SPA(s) Price – this shall exclude the New Property SPA purchase price GLRBR Percentage
    Aspire RM300,000.00 – RM1,499,999.00 1.5%
    Ascend RM1,500,000.00– RM3,999,999.99 2%
    Arrived RM4,000,000.00 and above 3%

    In the event the Purchaser(s) consists of joint-names, the Total Existing SPA(s) Price, for the purposes of determining the applicable tier in the table above, the highest Total Existing SPA(s) Price of each Purchaser as named in the New Property SPA shall be applicable.
    In the event of any further discrepancy on the table above, the Developer’s decision on the table above shall be final, binding and conclusive on the Purchaser(s).

  6. The sum of “X” above shall be utilised to offset any amounts which may be due and payable under the New Property SPA after full payment of the 1st 10% of the New Property SPA purchase price and any outstanding interest, maintenance charges, service charges, sinking fund, deposits and/or any miscellaneous costs and expenses which are due and payable. For this purpose, a credit note shall be issued to the Purchaser(s) for the GLRBR. Any excess of the sum of “X” above after such offset shall be remitted free of interest to the Purchaser(s) within sixty (60) days from either the:-
      1. date or deemed date (whichever is the later) of delivery of vacant possession of the New Property; or
      2. date of receipt by the Developer of full payment of the New Property SPA purchase price;

    whichever is later.

  7. The GLRBR shall be deemed to be inclusive of goods and services tax and/or any other applicable duties and taxes which may be imposed from time to time by any relevant authorities.
  8. In the event:-
    1. this T&C is not complied with; and/or
    2. the Existing SPAs and/or the New Property SPA is terminated for any reason whatsoever; and/or
    3. there is any bankruptcy proceeding or winding-up proceeding commenced against the Purchaser(s) or the Purchaser(s) is adjudged a bankrupt or there is an appointment of an official administrator or liquidator on behalf of the Purchaser(s) on or before the payment of the GLRBR; and/or
    4. there is any acts or omissions of the Purchaser(s) including but not limited to participating in protests and demonstrations, posting photos and articles or making statements which in the Developer’s sole opinion (which opinion shall be final and binding on the Purchaser(s)) directly or indirectly bring the Developer and/or Gamuda Group into disrepute and/or against the best interest of Gamuda Group; and/or
    5. there is any breach of any applicable laws, rules, regulations, by laws or requirements, whether or not having the force of law, by the Purchaser(s); and/or
    6. there is any non-disclosure, fraud, cheating or deception by the Purchaser(s) as determined in the Developer’s sole opinion (which opinion shall be final and binding on the Purchaser(s)); and/or
    7. inaccurate or incorrect information and/or disclosures by the Purchaser(s);

    then the following shall take place:-

    1. this form shall be deemed automatically terminated;
    2. the Purchaser(s)’ entitlement to the GLRBR shall automatically lapse and be considered null and void;
    3. the Purchaser(s) shall not be entitled to the GLRBR or any part thereof; and
    4. the Purchaser(s) shall not have any actions, claims, proceedings and/or suits in any way whatsoever against the Developer in respect of this form and the GLRBR.
  9. If T&C 8 occurs after the payment of the GLRBR then the Purchaser(s) confirms that the GLRBR shall be considered a debt due by the Purchaser(s) to the Developer which shall be immediately repayable by the Purchaser(s) to the Developer. The Developer reserves its right to claim from the Purchaser(s) the GLRBR in which event all costs and expenses (including solicitor client’s costs), if any, incurred to enforce such right shall be borne by the Purchaser(s).
  10. The Purchaser(s)’ entitlement to the GLRBR is personal to the Purchaser(s) and it is non-transferable / non-assignable to any third party or to any other properties of the Purchaser(s) for any reason whatsoever.
  11. The GLRBR is not exchangeable for kind, concessions, favour in whatever name called.
  12. The Purchaser(s) shall abide strictly by this T&C and shall fully indemnify and hold the Developer harmless against any and all losses, damages, claims, proceedings, actions, fines, penalties, costs and expenses which the Developer may suffer or incur arising from the Purchaser(s)’ acceptance of participation in the GLRBR or from breach by the Purchaser(s) of this T&C.
  13. The Purchaser(s) shall only be entitled to the GLRBR provided that the Purchaser(s) has complied with this T&C and the Purchaser(s) shall not be entitled to participate concurrently in any other schemes offered by the Developer whether such schemes are running concurrently or consecutively (unless otherwise allowed under such other schemes). Changing from one scheme to another is strictly prohibited.
  14. The Developer reserves the right to:-
    1. determine the entitlement of the Purchaser(s) for the participation of this GLRBR and to decide on any other matters pertaining to this GLRBR and the decision by the Developer shall be final, conclusive and binding on the Purchaser(s); and/or
    2. at any time in the Developer’s sole and absolute discretion, substitute, withdraw, add to or alter any of GLRBR offered whether in entirety or in part without notice to the Purchaser(s); and/or
    3. at any time without prior notice terminate, discontinue or suspend the GLRBR at the Developer’s sole and absolute discretion in which case, the Developer may elect not to award any of the GLRBR. Such termination, discontinuation or suspension shall not give rise to any claim by the Purchaser(s). If the Developer resumes the GLRBR, the Purchaser(s) shall abide by the Developer’s decision regarding resumption of the GLRBR and the disposition of the GLRBR; and/or
    4. at any time amend in the Developer’s sole and absolute discretion the list of projects in T&C 2(b).
  15. The Developer’s decisions on all matters relating to the GLRBR (including but not limited to any inconsistencies in any of these terms and conditions) shall be final, binding and conclusive on the Purchaser(s). No discussion, correspondence, enquiry, appeal or challenge in respect of any decision of the Developer shall be entertained in any way whatsoever.
  16. The Purchaser(s) hereby irrevocably waives all rights to make any oral or written complaints, public announcements or statements on the GLRBR, unless with the prior written consent of the Developer.
  17. The Developer shall not be liable to the Purchaser(s) for any failure to fulfil any terms of this T&C for any reason whatsoever including but not limited to any other circumstances of whatsoever nature beyond the control of the Developer.

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