MLVIP MEMBERSHIP

  • a. For existing MRCB Land Property(ies), any individual or company who purchased MRCB Land Property(ies) and duly executed the SPA will be eligible to become a Member.
  • b. The membership of MLVIP will be given to the first four (4) names of Purchaser(s) listed in the SPA.
  • c. The membership of MLVIP is non-transferable and non-assignable and is only for the exclusive use of the Member.
  • d. The Management will issue a confirmation of membership after verification of purchase of the relevant MRCB Land Property(ies), that is SPA has been executed and a sum equivalent to at least the required minimal down payment is received by the relevant MRCB Land Branch. Upon withdrawal or cancellation thereof, membership of MLVIP may be terminated.
  • e. Where a company purchases MRCB Land Property(ies) (“Company”), the membership of MLVIP will be issued directly to the Company and the Company will have their own MLVIP account.

LOYAL CUSTOMER REBATE (LCR)

  • a. Loyal Customer Rebate (LCR) is a rebate equivalent to a percentage not exceeding 5% (“LCR Entitlement”) and the LCR Entitlement corresponds with the respective tier which is solely determined under MRCB Land’s discretion.
  • b. The LCR entitlement is only applicable for the next purchase after the issuance of the membership. No LCR is applicable to the purchase of the first (1st) MRCB Land Property.
  • c. Accumulation of total Gross Property Value of MRCB Land Property(ies) shall be recorded in the Member’s MLVIP account.
  • d. In the case of joint purchase of MRCB Land Property(ies), the Gross Property Purchase Price will be given the same equivalent amount among the names stipulated in the SPA, and the respective member’s share will be added to his/her personal total accumulated Gross Property Value to determine his LCR Entitlement.
  • e. The Management may, at its absolute discretion, withdraw the LCR Entitlement if the Member elects to remove his/her name from the SPA or nominate a third party in his/her place prior to execution of the SPA.
  • f. Where more than one (1) Member jointly purchase a subsequent property with a non-member, the LCR Entitlement to be utilised on that subsequent property shall be based on that particular member with the highest total accumulated Gross Property Value recorded in his/her MLVIP account.
  • g. In the case a Company intends to purchase a subsequent property, they shall be allowed to utilise the LCR Entitlement determined based on the company’s total accumulated Gross Property Value in the Company’s MLVIP.
  • h. Issuance of LCR Entitlement will be in the form of a credit note at stages to be determined by each individual project.
  • i. The LCR Entitlement cannot be converted into cash and is not transferable.
  • j. The LCR will remain valid unless otherwise notified by the Management or determined by any applicable law or regulation, including but not limited to the Personal Data Protection Act 2010.

INTRODUCER REWARD (IR)

  • a. The Introducer Reward (IR) is a reward equivalent to 1% of the Gross Property Purchase Price of the Participating MRCB Land Property(ies)
  • b. Introducer Reward (IR) is given to a Member for a successful introduction of a non-member who purchases the said Participating MRCB Land Property(ies).
  • c. The IR Entitlement will be paid out by way of cheque or bank transfer upon successful introduction. “Successful introduction” means fulfilment of ALL of the following:
  •         i. Member introduced a non-member to purchase Participating MRCB Land Property(ies);
  •         ii. Member shall be present together with the non-member during the purchase for verification purposes;
  •         iii. Member must produce his/her MyKad and/or quote his/her name and NRIC No./Passport No. to qualify; (or in the case of Company, the relevant Form 9 and/or provide the Company’s name and Company Registration No.)
  •         iv. Subject to the referred customer settling the 10% deposit in full and first release of the loan sum by the referred customer’s financier or paid not less than 20% of the purchase price for cash buyer under construction projects, whichever is later, or upon MRCB Land and/or its subsidiaries receiving full payment of the purchase price for completed projects.
  •         v. Non-member has filled-in the Member’s name and NRIC No./Passport No. or the Company Registration No. in Purchaser's Details Form during the purchase
  •         vi. Non-member has executed the SPA and a sum equivalent to at least the required minimal down payment is received by the relevant MRCB Land Branch; as solely determined by the Management and/or MRCB Land and
  •         vii. the relevant SPA must not consist of the Member’s name and/or any other existing Member(s).
  • d. The IR is non-transferable and non-assignable and is only for the exclusive use of the Member.

GENERAL

  • a. Unless specified otherwise, the MLVIP privileges are not valid for use with other ongoing MRCB Land promotions and rebates.
  • b. The Management reserves the right to withdraw, suspend, terminate, substitute or alter the MLVIP or any of the privileges under the MLVIP from time to time without prior notice to the Member. Any substitution or variation by the Management of MLVIP or any privileges contained therein shall not entitle the Member to any claims or compensation from the Management and/or MRCB Land for any losses or damages suffered or incurred by the Member, whether directly or indirectly.
  • c. In case of any dispute over the related privileges under the MLVIP, the decision of the Management shall be final and conclusive.
  • d. In the event the MLVIP has been withdrawn, suspended, or terminated pursuant to Section 4b above, the Management will notify the Member in a manner which the Management deems appropriate. Upon notification of such withdrawal, suspension or termination, the Management and/or MRCB Land shall have no obligation to extend any privileges to the Member and Member shall have no claim against the Management and/or MRCB Land in respect of the MLVIP or privileges.
  • e. The Management and/or MRCB Land are not liable for any loss or damage suffered by Members due to any of the following reasons: -
  •         i. any failure by Members to notify MRCB Land Branches that an LCR and/or IR is/are applicable for a transaction;
  •         ii. any privileges not being available for any reason;
  •         iii. any failure by the Management to notify Members of any changes in these Terms and Conditions;
  •         iv. the variation and/or suspension and/or termination of the MLVIP.
  • f. MRCB Land reserves the right to use, collect, obtain, store and process all or any of the Member’s and/or non-member’s Personal Data provided by the Member and/or non-member to the Management and/or MRCB Land pursuant to his/her/their purchase of MRCB Land Property(ies) for the purpose of sharing updates, news, promotional and marketing materials pursuant to the Personal Data Protection Act.
  • g. By participating in the MLVIP, Members agree to be bound by these Terms and Conditions stipulated herein.
  • h. The Management reserves the right to add, delete or amend these Terms and Conditions herein at any time without prior notice to Members. Any alteration to these Terms and Conditions herein will first be published in the MLVIP website.
  • i. In the event of discrepancy between these Terms and Conditions or the Frequently Asked Questions and the latest Terms and Conditions stipulated in the MLVIP website, the Terms and Condition stipulated in the MLVIP website will take precedence.