Purchase Order Banker in Malaysia Kuala Lumpur –Free Word Template Download with AI

TERMS AND CONDITIONS OF THIS PURCHASE ORDER

1. Governing Law: This Purchase Order shall be governed by and construed in accordance with the laws of Malaysia, specifically the Contracts Act 1950 and applicable regulations issued by Bank Negara Malaysia. Any disputes arising from this Purchase Order shall be subject to the exclusive jurisdiction of the courts in Kuala Lumpur, Malaysia.
2. Banker Service Standards: The Seller warrants that all Banker products, software, and services delivered under this Purchase Order shall conform to the specifications outlined in Annexure A (attached separately) and shall comply with all applicable standards set by Bank Negara Malaysia, including the Financial Services Act 2013 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
3. Delivery and Installation: All hardware components and software systems shall be delivered, installed, and made operational at the designated Kuala Lumpur premises no later than the dates specified in the item table above. The Seller shall bear all costs associated with transportation, installation, and initial configuration within the Kuala Lumpur metropolitan area.
4. Payment Schedule: Payment shall be made in three (3) tranches: (a) 30% advance payment upon execution of this Purchase Order; (b) 50% upon successful delivery and installation of all Banker hardware and software systems; (c) 20% upon final acceptance and completion of the Banker staff training programme. All payments shall be made in Malaysian Ringgit (MYR) via bank transfer to the account specified above.
5. Warranty and Support: The Seller provides a comprehensive warranty of twenty-four (24) months from the date of final acceptance for all Banker hardware products and twelve (12) months for all software licenses. During the warranty period, the Seller shall provide prompt technical support and repair services at no additional cost to the Buyer.
6. Confidentiality and Data Protection: Both parties agree to maintain strict confidentiality regarding all proprietary information exchanged in connection with this Purchase Order. The Seller shall comply with the Personal Data Protection Act 2010 (PDPA) of Malaysia in handling any customer or employee data processed through the Banker systems.
7. Force Majeure: Neither party shall be liable for failure to perform obligations under this Purchase Order due to events beyond reasonable control, including but not limited to natural disasters, government actions, or pandemics affecting operations in Malaysia Kuala Lumpur.
8. Termination: Either party may terminate this Purchase Order with thirty (30) days written notice in the event of material breach by the other party that remains uncured within the notice period. Upon termination, the Buyer shall pay for all Banker services and goods already delivered and accepted.
9. Intellectual Property: All intellectual property rights in the Banker software, systems, and documentation remain the property of the Seller. The Buyer is granted a non-exclusive, non-transferable license to use the Banker systems solely for its internal banking operations in Malaysia.
10. Amendments: No amendment or modification to this Purchase Order shall be valid unless made in writing and signed by authorized representatives of both parties.