Terms & Conditions of Purchase (Credit Sale)

TERMS AND CONDITIONS OF PURCHASE:

These terms and conditions shall form a legal binding contract between you and WavPay E-Commerce Sdn Bhd (“WESB”). Please read it carefully.

By submitting your online application for credit purchase of product(s) offered by WESB, you acknowledge that you have read and fully understood and agree to be bound by all of the terms and conditions herein stipulated, the privacy notice and all documents incorporated by reference upon the approval of your registration by us, the approval of which is at our sole and absolute discretion.

In this Agreement, “customer”, “you”, and “your” refer to each purchaser and “WESB”, “us” and “our” refer collectively to WavPay E-Commerce Sdn Bhd (Company No. 1299178-X), a company incorporated in Malaysia with its registered office at 18, (Level 2), Jalan Perai Jaya 1, Bandar Perai Jaya, 13700 Perai, Pulau Pinang.

Customer and WESB are collectively referred to as “Parties” and separately as “Party”.

WHEREAS:

WESB is a company duly incorporated in Malaysia under the Companies Act 2016, which the nature of its business is providing e-commerce platform which allows the customer to purchase product on its e-commerce platform.
The Customer wishes to purchase product or services available on the e-commerce platform provided by WESB either via cash or credit purchase facilities provided by WESB.

DEFINITIONS & INTERPRETATIONS

In this Agreement where the context so admits the following expressions shall have the meaning designated unless otherwise distinguished:

Apps	Means marketplace apps developed by WESB, which is made available in WavPay E-Wallet where the Customer has accessed to browse, select and purchase of product or products therefrom.
Completion of Order	Means the full payment of the price of the product in the event the Customer selected the payment to be made via e-wallet or in the event that the Customer has selected the term of payment is by way of instalment, the acceptance of the Customer of the credit sale agreement by enrolment and approval of a direct debit in favor of WESB to secure payment of the Credit Sale Agreement, upon approval the instalment payment by WESB, in WESB’s Apps;
Credit Sale Agreement	Means the credit sale contract, which will be generated upon the approval of credit purchase made by the Customer, which comprises of the product or products selected by the Customer, the instalment plan selected by the Customer and this terms and conditions, which shall be accepted by the Customer by enrolling Online Direct Debit in favor of WESB. It may include the Privacy Notice and the Online Credit Purchase Application Form submitted by the Customer;
Credit Sale Facility	Means the credit sale amount, which has been approved by the WESB to the Customer;
Direct Debit	Means the arrangement made by the Customer with the Bank or any Financial Institution to allow WESB to transfer the agreed instalment from the Customer’s account on specific period agreed by the Parties under this Agreement. For the purpose of this Agreement, the authorization of the Client to WESB is in the form of E-Mandate. E-Mandate refers to the online electronic Direct Debit Authorization method and facility provided by Payments Network Malaysia Sdn Bhd (“PayNet”) (formerly known as Malaysian Electronic Clearing Corporation Sdn Bhd) (Company No.836743-D) being the company operating the Direct Debit and e-Mandate services.
ID	Means identification of the Customer, which is distinguishable from one person to another.
Instalment Payment Plan	Means the payment plan proposed by WESB of the selected product or products based on the period of payment selected by the Customer, which shall not exceed sixty (60) months period and shall contain the Overall Price of the Product or Products, which to be paid by the Customer;
Instalment Period	Means the period of repayment of the Credit Sale Facility;
Overall Price	Means the price of the selected product or products for the purchase made by way of credit, which include all the fees that may be chargeable by the Customer based on the period of payment agreed between the Parties;
Sale Price	Means the price of the product or products appearing in the Apps.
Shipping Address	Means the address designated by the Customer, which the Selected product or products to be delivered to. The Shipping Address may be different from the Billing Address as per designation by the Customer;
WavPay E-Wallet	Means the mobile application named as “WavPay E-Wallet” provided by Wavpay Systems Sdn Bhd, which is an E-Wallet payment solution for the purpose of enabling payment transactions and displaying third party services approved by Wavpay Systems Sdn Bhd such as the Marketplace App by Wavpay E-Commerce Sdn Bhd

GENERAL

WESB reserves the right to vary or amend these terms and conditions from time to time and it is the responsibility of the Customer to review these terms and conditions before doing any purchase using the Apps.
These terms and conditions shall apply to all purchase, orders and/or contracts made or to be made with WESB. Submission of any order via the Apps or delivery of instruction or the products, notwithstanding to the manner of payment agreed between the Parties, shall constitute unqualified acceptance of the Customer of these Terms and Conditions. Nevertheless, nothing in these Terms and Conditions affects statutory rights of the Customer.

The Customer shall register his/her ID with the Apps to enable the Customer to continue with any purchase with WESB and/or using the facilities, which specifically made available to him/her/it upon compliance of further Terms and Conditions.

A. MAKING AN ORDER AND SELECTION OF PAYMENT

All the content, detail and presentation of the product or products in the Apps shall only constitute an invitation to treat.
The Parties hereto agree that selection and placement of product or products in the cart shall not constitute completion of the order of the product or products.
An order of any product or products shall only be deemed to be completed upon the full payment of the price of the product or in the case where the Customer has selected the term of payment by way of instalment, the acceptance of the Customer of the credit sale agreement by enrolment and approval of a direct debit in favor of WESB to secure payment of the Credit Sale Agreement, upon approval the instalment payment by WESB, in WESB’s Apps.
WESB shall have the right to remove any selected product or products from the Customer’s cart in the event that the stock of the product or products is/are no longer available while the confirmation of the order is still pending.
WESB may introduce various types of online payment to the Customer to facilitate the purchase using their website or Apps from time to time. However, the Customer may opt only one means of payment at a time in every single transaction.
In the event that the Customer intends to purchase the products displayed for sale in the Apps by way of instalment, the Customer is required to select instalment payment based on the instalment plan in the Apps (if applicable) and thereafter, to proceed with the submission of the application to WESB by filling in his/her details and uploading the required documents in the Apps to enable WESB to conduct due diligence on the Customer’s credit credibility and payment ability.
The Customer agrees, acknowledges and understands the instalment payment plan offered by WESB is always subject to their final approval and WESB is under no obligation to approve instalment payment to the Customer notwithstanding to the application made by the Customer.
WESB shall revert to the Customer with the status of application expeditiously upon satisfaction of conduct of due diligence on the customer after submission of the Application and upon approval from WESB, the Customer is required to accept this Credit Sale Agreement by enrolling online direct debit to enable WESB to proceed with the delivery of the product or products to the Shipping Address.
All the data, which include the signing in to the Apps, order of the product or products, selection of payment including the application for instalment payment, application summary approval and acceptance of the Credit Sale Agreement shall constitute a series of binding transaction between the Parties. The Customer is required to check and read the details of the item and terms of payment before completing an order.
The Customer agrees and undertakes that in the event that purchase of the selected product or products is by way of instalment and the same has been approved and properly accepted by the Customer in the manner agreed herein, the Customer shall always under the obligation to ensure all the instalment payment to be made in orderly manner within the time stipulated herein.

The Customer hereto agrees and acknowledges that the first instalment payment, will become due within one (1) month from the date of acceptance of the Credit Sale Agreement.

B. DELIVERY OF PRODUCT AND COMPLETION OF TRANSACTION

WESB are bound and obliged to deliver the selected product upon receipt of validation of selected payment or in the case of payment by way of instalment, the Customer’s acceptance of the Credit Sale Agreement, which automatically generated upon approval.
WESB shall be entitled to deliver the product or products using its delivery partner to the Customer’s delivery address.
All the risk related to the packaging and delivery of the Product shall only be passed to the Customer upon the Customer’s receipt of the product or products..
The Parties agree that the product or products shall be shipped out for delivery not later than 14 working days from the date of the completion of the order.
The Customer shall ensure the collection of the product or products can be made without undue delay at the time reasonably specified by WESB or the delivery service (whichever applicable).
WESB warrants that all the product will be delivered in a perfect and working condition as per the quantities ordered and as per advertised in the Apps.
WESB is committed to ensure that all the orders are delivered to the Customer safely on time and for this purpose, the authorized receiver shall be permitted to accept the delivery and Customer shall ensure that the authorized receiver is present to make the authorized signature. WESB reserve the rights not to release the delivery in the absence of the authorized receiver.
WESB shall not be responsible for any delivery made to an incorrect address due to the mistake of the Customer. In the event that the Product is returned to WESB due to an incorrect address as stated thereabove, the Customer shall borne all the cost to redeliver the Product.
The sale and purchase transaction shall be deemed to have been completed once the Product has been delivered to the Customer.
The Customer may track the status of the delivery from the Apps or the delivery services tracking apps for actual delivery date of the Product at the designated delivery address.

C. RETURN AND REFUND POLICY AND MISTAKE BY THE PARTIES

The Parties agree and acknowledge that WESB is not providing any after sale service to the Customer.
The Customer is assumed to have inspected the condition of the Product immediately upon the delivery of the Product.
The Customer may return a defective product directly to the manufacturer of the product or products for services or exchange with other similar product or products, under the terms of warranty issued by the manufacturer to the Customer as the end user.

WESB shall only be liable to refund the Customer for the product or products, which is or are damaged due to mishandling during the delivery service PROVIDED always that the products must be returned in its original condition and materials, and all the part (whenever applicable) must be intact to enable WESB to inspect the nature and extent of the problem and the order record of the said returned product. If WESB is satisfied that the damage on the product is due to mishandling during the delivery services, WESB, upon notification to the Customer, will refund the Customer with the full purchase price of the product. If the product is found to be not damaged due mishandling but a manufacturing defect, WESB has the absolute discretion to make a partial refund to the Customer for the product or return the said product to the Customer at the Customer own cost and expenses.
In the event that WESB has agreed for a refund, the Parties hereto agree that all the refund shall be deposited into the Customer’s WavPay E-Wallet.
Any mistake made by the Customer in placing an order may be rectified by contacting WESB’s contact centre. Acceptance of proposal made by the Customer to rectify the mistake is subject to the absolute discretion of WESB.

D. BREACH OF CREDIT SALE AGREEMENT AND TERMINATION

The Customer shall be deemed in breach of Credit Sale Agreement should the Customer failed to make the instalment payment for two (2) consecutive times as per their undertaking stated in Item 13 and 14 of this Terms and Conditions.
Upon breach by the Customer, WESB shall issue a letter of termination of the Credit Sale Agreement and demand to the Customer, which shall contain information of the breach, the outstanding sum due and payable to WESB and period given to settle the outstanding.
WESB has the absolute right to proceed with legal action in the court of law in Malaysia and/or to share the Customer information and default with any credit rating agency regulated under the Credit Rating Agency Act 2010 duly appointed by WESB in the event that no payment has been made by the Customer despite issuance of the letter of demand.

E. EARLY SETTLEMENT AND EARLY TERMINATION

The Customer may pay the remaining price in full, prior to completion of period agreed between the Parties. In the event the Customer entered into an early settlement by payment of the total sum of the instalments before the estimated date, the Customer shall be entitled for a rebate as per Item 44 of this Terms and Conditions.

F. CONSENT TO SHARE INFORMATION WITH CREDIT RATING AGENCY FOR ELECTION OF PAYMENT BY WAY OF INSTALMENT AND COMPLIANCE WITH PERSONAL DATA PROTECTION ACT 2010

By accessing and making purchase of Product by way of instalment via this Apps, the Customer agrees and consent to the sharing of his information with the credit rating agency duly appointed by WESB, which shall include name, identity card, address and amount of indebtedness owed to WESB, including outstanding payment (if any) until the Customer has fully discharged his obligation with WESB.
WESB shall ensure that the collection, use and disclosure of the Customer personal data is consistent with the Malaysian Personal Data Protection Act 2010 (PDPA) and the relevant Privacy Law in place in each jurisdiction that we operate in. It is acknowledged that personal data collected and processed is obtained voluntarily and with the consent of the Customer.

G. MISCELLANEOUS

Failure or delay by WESB in exercising its right under these Terms and Conditions and/or other specific terms and conditions stipulated herein shall not operate as a waiver of such right or extend to or affect any other or subsequent event or impair any rights or remedies of it or in any way modify or diminish our rights under the Terms and Conditions.
If any clause in these Terms and Conditions shall become or shall be declared by any court of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability shall in no way affect any other clause or part of any clause, all of which shall remain in full force and effect, so long as these Terms and Conditions shall be capable of continuing in effect without the unenforceable term.
Whilst WESB endeavour to make the Apps available, WESB cannot be held liable for any reason in the event that the Apps is unavailable at any time or for any period, for any reason whatsoever. WESB make no warranty that the Customer access to the Apps will be uninterrupted, timely or error-free due to the nature of the internet, which may be interrupted. In addition, WESB may occasionally carry out repairs, maintenance or introduce new facilities and functions to the Apps.
WESB do not warrant that the Apps will be compatible with all hardware and software which the Customer may have used. WESB shall not be liable for damage to, or viruses or other code that may affect, smartphone, computer equipment, software, data or other property as a result of the Customer access to or use of the Apps or the Customer obtaining any material from, or as a result of using the Apps.
WESB shall not be liable for the actions of any third party.
WESB shall not be liable to the Customer for any breach, hindrance, or delay in the performance of a Contract attributable to any cause beyond our reasonable control, including without limitation any natural disaster and unavoidable incident, actions of third parties (including without limitation hackers, suppliers, governments or local authorities), insurrection, riot, civil commotion, war, hostilities, warlike operations, national emergencies, terrorism, piracy, arrests, restraints or detainments of any competent authority, strikes or combinations or lock-out of workmen, epidemic, fire, storm, flood, drought, weather conditions, earthquake, natural disaster, accident, mechanical breakdown, third party software, failure or problems with public utility supplies (including electrical, telecoms or Internet failure), shortage of or inability to obtain supplies, materials, equipment or transportation regardless of whether the circumstances in question could have been foreseen.

H. FEES CHARGEABLE ON THE CUSTOMER UNDER THE CREDIT SALE AND REBATE FOR EARLY SETTLEMENT

The Customer agrees and acknowledges that any purchase made under the instalment plan under the Credit Sale shall be chargeable with the fees as prescribed in accordance of the Consumer Protection (Credit Sale) Regulations 2017, which details of calculation may be found therein:-

i) Processing Fee

Total amount payable under credit sale agreement	Fee
RM30,000.00 and below	Not exceeding RM50.00
RM30,001.00 and above	RM51.00 to RM100.00

ii) Term Charges

iii) Annual Percentage Rate

iv) Late Payment Charge

The Customer agree and acknowledge that the Overall Price of the selected items/products stated in the Instalment Plan is inclusive of all the charges stipulated in Item 43(i), (ii) and (iii) above.

Updated 12 July 2021