Terms and Conditions

Terms and Conditions

PLATINUM YACHTS SDN BHD

SELLER LISTING TERMS & CONDITIONS

(Non-Exclusive Brokerage)

These Terms & Conditions (“Terms”) govern the listing of any vessel (“Vessel”) by the owner (“Seller”) on the website and marketing platforms operated by PLATINUM YACHTS SDN BHD (Company No.: ) (“Platinum Yachts” or “Broker”).

By submitting a Vessel for listing, the Seller confirms that they have read, understood, and agreed to be bound by these Terms.

1. APPOINTMENT

1.1 The Seller appoints Platinum Yachts on a non-exclusive basis to market and assist in the sale of the Vessel.

1.2 The Seller may:

  • Appoint other brokers or agents; and/or
  • Sell the Vessel privately.

1.3 Platinum Yachts reserves the right to accept or reject any listing at its sole discretion.

2. LISTING AND MARKETING

2.1 There is no upfront fee for listing the Vessel on the Platinum Yachts website.

2.2 Platinum Yachts may market the Vessel through:

  • Its official website and proprietary platform;
  • Digital marketing channels;
  • Broker networks and industry contacts;
  • Direct client database.

2.3 Platinum Yachts may edit listing descriptions for clarity, presentation, and compliance purposes.

3. SELLER REPRESENTATIONS

By listing the Vessel, the Seller represents and warrants that:

3.1 The Seller is the legal and beneficial owner of the Vessel and has full authority to sell it.

3.2 The Vessel is free from all mortgages, liens, encumbrances, or financial claims, unless clearly disclosed in writing prior to listing.

3.3 All information provided — including specifications, year, engine details, registration, service history, and condition — is accurate and not misleading.

3.4 The Seller agrees to indemnify and hold Platinum Yachts harmless from any claim arising from inaccurate information, undisclosed encumbrances, or breach of these Terms.

4. COMMISSION

4.1 A commission of ten percent (10%) of the final agreed gross sale price shall be payable to Platinum Yachts if the Vessel is sold to:

  • A buyer introduced directly by Platinum Yachts; or
  • A buyer who became aware of the Vessel through Platinum Yachts’ marketing efforts.

4.2 Commission shall be deemed earned and payable upon:

  • Execution of a Sale and Purchase Agreement; and
  • Receipt of purchase funds by the Seller or appointed stakeholder/escrow.

4.3 If the Vessel is sold within ninety (90) days after removal from the Platinum Yachts platform to a buyer introduced during the listing period, commission shall remain payable.

5. SELLER OBLIGATIONS

5.1 The Seller agrees to:

  • Make the Vessel reasonably available for viewing, inspection, and sea trial upon reasonable notice;
  • Maintain the Vessel in substantially the same condition as at the time of listing;
  • Promptly notify Platinum Yachts if the Vessel is sold, withdrawn, or its asking price changes.

5.2 The Seller remains solely responsible for all representations made to prospective buyers.

6. ROLE OF PLATINUM YACHTS

6.1 Platinum Yachts acts solely as an intermediary between Seller and prospective buyers.

6.2 Platinum Yachts does not:

  • Guarantee a sale within any timeframe;
  • Guarantee any specific sale price;
  • Warrant the financial capability of any buyer;
  • Warrant the condition of the Vessel.

7. LIMITATION OF LIABILITY

7.1 Platinum Yachts shall not be liable for:

  • Any loss arising from inaccurate information provided by the Seller;
  • Mechanical, structural, or title issues relating to the Vessel;
  • Any act or omission of the Seller or Buyer.

7.2 The Seller agrees that Platinum Yachts’ liability, if any, shall be limited to the amount of commission received.

8. TERM AND TERMINATION

8.1 The listing shall remain active for a period of six (6) months unless earlier removed by the Seller or Platinum Yachts.

8.2 Either party may terminate the listing by written notice.

8.3 Removal of the listing does not waive Platinum Yachts’ right to commission under Clause 4.

9. GOVERNING LAW

These Terms shall be governed by and construed in accordance with the laws of Malaysia.

Any dispute arising out of or in connection with these Terms shall be referred to arbitration under the rules of the Asian International Arbitration Centre (AIAC). The seat of arbitration shall be Kuala Lumpur, and the decision shall be final and binding.

10. ACCEPTANCE

By submitting a Vessel for listing on the Platinum Yachts platform, the Seller confirms that:

  • They have read and understood these Terms;
  • They agree to be legally bound by them;
  • All information submitted is true and accurate.
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