Terms and Conditions

Last updated: 10 June 2026

The Customer hereby agrees with K&B GLOBAL SDN. BHD. (Company No. 201001029932 (913852-U)), a company incorporated under the laws of Malaysia and having its registered address at 29A, Lorong P.S.1, Bandar Perda, 14000 Bukit Mertajam, Pulau Pinang ("K&B") that these Standard Terms and Conditions ("TnC") will bind the Customer whose application for the financing products and/or services ("Facility") has been approved by K&B.

1. Final and Binding Agreement

These TnC, Commodity Financing Agreement and all other documents constitute the final and binding agreement between the Customer and K&B.

2. Conditions Precedent for Disbursement

2.1

The Customer confirms that it/he/she has read, fully understood and agrees that these TnC are legally binding on him upon K&B's receipt of the Customer's acceptance.

2.2

This Facility is to be disbursed to the Customer after all the conditions precedents in these TnC are fulfilled to the satisfaction of K&B.

3. Disbursement Terms

3.1

K&B will disburse the Facility amount as approved by K&B to the Customer after deducting all fees and charges payable to K&B.

3.2

The Customer will be informed if there are any changes to the method of disbursing the Facility amount.

4. Payment by Customer

4.1

The Principle and the Profit rate is to be paid according to the number of periodic instalments (payment schedule) provided by K&B to the Customer.

4.2

All payments are to be made to K&B fully without any set-off or other deduction.

4.3

If the law requires a deduction from any payment, the Customer is required to increase the payment to make sure that the net amount received by K&B is the same as the amount that ought to be received by K&B in accordance with these TnC.

4.4

Payments received from the Customer will be applied in a manner considered appropriate by K&B.

4.5

The periodic instalments and tenure of the Facility may not be changed by the Customer without the consent of K&B.

4.6

The Customer undertakes to make the necessary arrangements for the payment of the periodic instalments in accordance with these TnC even if the Customer would be outside of Malaysia for any period of time.

5. Early Settlement and Rebate (Ibra')

5.1

The Customer shall make full settlement of the outstanding Sale Price ("Early Settlement") before expiry of the Tenure in either of the following events:

• (a) the Customer requests for an Early Settlement;
• (b) Early Settlement due to financing restructuring exercise;
• (c) Early Settlement in the Event of Default; and/or
• (d) Early Settlement in the event of termination of this Agreement before expiry of the Tenure for any other reason whatsoever.

5.2

In the event the Customer requests for an Early Settlement of the Facility, payment of the Early Settlement must be made on the date(s) as may be determined by K&B.

5.3

Any notice for Early Settlement shall be irrevocable and the Customer shall be obligated to make such settlement in accordance with the notice.

5.4

Customer agrees and acknowledges that any Early Settlement of the outstanding Sale Price shall not entitle the Customer to any rebate (Ibra') or discount on the Sale Price or any related fees and charges due to K&B.

5.5

The Customer shall give prior written notice of at least one (1) month to K&B of its intention of Early Settlement of the Sale Price.

5.6

K&B, in its discretion, may grant a rebate (Ibra') upon settlement of the Sale Price by the Maturity Date as scheduled. The rebate (Ibra') amount shall be equivalent to the total unearned profit amount after the Maturity Date (illustration).

5.7

K&B shall in no way be obligated to grant rebate (Ibra') on the unearned profit within the Tenure before the Maturity Date upon Early Settlement of the Sale Price by the Customer in the following scenarios:

• (a) Settlement or redemption of the Sale Price before the Maturity Date;
• (b) Due to restructuring of the Facility;
• (c) In the case of default by the Customer; and
• (d) In the event of termination, cancellation and/or suspension of the Facility before the Maturity Date.

6. Reschedule / Restructuring of Facility

K&B may but is not obligated to permit the restructuring or rescheduling of the Facility, whether at the Customer's request or otherwise, provided that:

• (a) The rescheduled Tenure shall not exceed the Contracted Tenure;
• (b) There shall be no Event of Default which has occurred during the Tenure;
• (c) The fulfilment of any other conditions as can be from time to time imposed by K&B.

7. Late Payment Charges

7.1

The Customer hereby agrees that K&B's right to impose and demand from the Customer late payment charges if the Customer fails to do the following:

• (a) Payment of all outstanding periodic instalments and the total amount agreed to be paid by the Customer to K&B on its respective due dates; and/or
• (b) Payment of all outstanding periodic instalments upon expiry or termination of the Facility.

7.2

K&B shall be entitled to charge a late payment charge ("Late Payment Charge") (exclusive of any applicable taxes) on the unpaid sum of Instalment. The Late Payment Charge consists of two (2) components: (a) Ta'widh (Compensation) at the rate of one percent (1%) per annum on the overdue Instalment, as compensation for the actual loss suffered by K&B due to the Customer's failure to make Payment; and (b) Gharamah (Penalty) at the rate of seven percent (7%) per annum on the overdue Instalment, imposed as a penalty for failure to pay.

7.3

The Late Payment Charge shall be calculated in accordance with the following formula:

Late Payment Charge = D × S × (8% / 365)

where:

D : the number of days in default.

S : the sum of Instalment which is overdue.

7.4

For the avoidance of doubt, the Ta'widh (1%) component may be recognised as K&B's income to recover the actual loss suffered. The Gharamah (7%) component shall not be recognised as part of the profit or income earned by K&B in respect of the Facility, and shall be channelled to a charitable organisation or Baitulmal approved by K&B's Shariah Committee.

7.5

The Late Payment Charge imposed on the overdue Instalments shall not be compounded on the outstanding Sale Price and shall not exceed 100% of the outstanding Purchase Price.

8. Availability Period

8.1

At the request of the Customer, K&B agrees to make available to the Customer the Facility pursuant to which the parties shall enter into the Commodity Murabaha Transactions, subject to Availability Period and in accordance with the terms of this Agreement.

8.2

Upon expiry of the Availability Period, K&B at its sole discretion may review the Facility and extend the Availability Period or treat the Facility as cancelled.

8.3

If K&B does not extend the Availability Period, K&B may treat the Facility which has not been utilised as cancelled.

8.4

The Availability Period shall commence upon the date of credit risk approval and shall remain in effect for a duration of one (1) month thereafter.

9. Rights to Terminate the Facility

9.1

K&B has the right to terminate the Facility at any time (including before the disbursement of the Facility amount) if there is a breach of any of these TnC. Upon the termination of the Facility, all outstanding amounts owed by the Customer under the Facility become immediately due and payable to K&B.

9.2

K&B also has the right to suspend the Facility for an indefinite period of time if K&B is aware or has reason to believe that:

• (a) any document given by the Customer is fake, incorrect, untrue or confusing;
• (b) there are any misrepresentations in the application for the Facility by the Customer; or
• (c) the Customer behaves in a suspicious or fraudulent manner.

10. Representations and Warranties

The Customer gives representations and warranties that:

10.1

the Customer has full legal capacity and is authorized to enter and undertake the obligations for the Facility as stated in these TnC;

10.2

no situation has happened which caused the happening of one or more Events of Default stated in Clause 11 below;

10.3

all information and documents furnished by the Customer in connection with the Facility are up to date as at the date they were provided or as at the date to which they refer, do not contain any untrue statement or omit to state any fact, the omission of which makes any statements made therein in the light of the circumstances under which they are made misleading; and

10.4

the Customer is not aware of any material facts or circumstances that have not been disclosed to K&B which might, if disclosed, adversely affect the decision of K&B in considering whether or not to grant the Facility to the Customer.

11. Events of Default

11.1

K&B reserves the right to terminate the Facility and claim for full payment of the indebtedness if:

• (a) the Customer fails to pay any amount indebted under the Facility on its due dates;
• (b) the Customer breaches any of the obligations stated in these TnC;
• (c) the Customer acknowledges in writing or otherwise, or K&B believes that the Customer is unable to pay the indebtedness when the indebtedness matures;
• (d) any bankruptcy or insolvency or winding-up proceeding is initiated against the Customer;
• (e) any representation or warranty made by the Customer to K&B is not true when it is made or has ceased to be true if it is repeated at any time during the tenure of the Facility; or
• (f) the Customer passes away or becomes insane or mentally unfit.

11.2

The Customer is to immediately inform K&B in writing of the occurrence of any of the situation stated above except sub-clause 11.1(f), where the successor or close family or representative of the Customer is to inform K&B in writing, should the said events occur.

11.3

The Customer is to indemnify K&B against any claims, losses, damages or liability(ies) suffered by K&B as an effect from any of the above Events of Default.

12. Changes to Circumstances

In the event that there is any change in the laws, rules, guidelines or requirements by the authorities (or in its interpretation or implementation) or for the purpose of compliance by K&B to any directions, requests or requirements applicable (whether or not they have any legal effect or not) that imposes on K&B any conditions, burden or additional obligation, K&B may terminate the Facility upon notice to the Customer where upon all the outstanding amounts under the Facility are to become immediately due and payable to K&B.

13. Costs, Fees and Expenses

13.1

All costs, charges and expenses incurred by K&B relating to or arising from or incidental to the Facility have to be paid by the Customer when due.

13.2

All stamp duties and legal fees payable (evaluated on the basis of lawyer and client) or incurred by K&B:

• (a) related to or incidental to the provision of the Facility; and/or
• (b) related to enforcement of its rights under the Facility, are to be paid by the Customer upon demand.

13.3

The Customer acknowledges and agrees that in addition to any other fees or charges outlined in this agreement, including the following:

13.4

The Processing Fee is non-refundable and forms an integral part of the overall costs associated with the Commodity Murabaha Financing Agreement.

14. Finality of Calculation

K&B's calculation on any amount due and outstanding is final unless proven otherwise or if it is shown that there is a clear mistake.

15. Notice

15.1

• (a) Any claim or notice to the Customer under these TnC may be in writing through letters, emails or short messaging service, in-app or other such notifications and where applicable, is to be signed by the authorized officer or law firms acting on behalf of K&B.
• (b) Any claim or notice may also be communicated by emails or short messaging service, in-app or such other modes of communication. Where required by law, claims or notices (including but not limited to the writ of summons and legal claims) are to be physically delivered to the Customer by post or delivered personally to the Customer's address or to the Customer's usual or last known place of business, employment or residence.
• (c) Any of the claim or notice if delivered via post is to be considered received by the Customer five (5) days after postage and delivery by person is to be considered received on delivery time, even if the claim or notice is returned due to non-delivery or unclaimed.

15.2

Notices that need to be given to K&B under these TnC are to be in writing, signed by the Customer and e-mailed to K&B at support@jomdana.my.

15.3

Any write, notice, statement, reminder or certificate ("Said Document") given by K&B will not require signature of any K&B's officers where it has been stated in the Said Document that it is computer generated and does not require any signatures.

16. Indemnity

16.1

The Customer expressly releases K&B from any liability related to any mistake or omission in the disbursement of the Facility and also any losses or damages indirectly, incidental, arising, in relation to the Customer.

16.2

K&B has the right to reject the Customer's application or refuse to grant the Facility to the Customer without giving any reason for the refusal and K&B is not to be made liable for any loss resulting from the refusal.

16.3

K&B will not be liable for any losses, damages, costs and expenses that might be suffered or incurred by the Customer as a result of the disbursement of the Facility.

17. Force Majeure

K&B is not required to undertake its obligations if it is prohibited from doing so as a direct or indirect result of any natural disaster, riots, public unrests, terrorist acts, labor strikes, lock out, fires, floods, accidents, machine, or computer failures / computer system or anything out of the reasonable control of K&B.

18. Laws

These TnC are subject to and interpreted according to the laws of Malaysia and the parties hereby agree to be subjected to the jurisdiction of the courts of Malaysia.

19. Restructuring

These TnC are valid and binding on all parties even if K&B has changed due to any merger, restructuring or other like circumstance and no changes on any party will affect their existing liabilities and obligations, whether it is from the past, present or future.

20. Successorship

These TnC are binding upon the successors, representatives and replacement (if required) of the parties herein.

21. Other Conditions

21.1

The facility is subject to these TnC and our Privacy Policy. When applying for this Facility, the Customer is to read thoroughly these TnC and the Privacy Policy.

21.2

By applying for the Facility, the Customer is agreeing to these TnC and the Privacy Policy, including granting consent to the use of his personal information. In addition, the Customer consents to CTOS Data Systems Sdn Bhd ("CTOS"), and RAM Credit Information Sdn Bhd ("RAMCI"), a registered credit reporting agency under Credit Reporting Agencies Act 2010 ("CRA") conducting any credit/trade, CCRIS and DCHEQUE checks on the Customer, at any time for as long as the Customer is applying for or has this Facility with K&B, and consents to the disclosure to K&B, of any Credit Information (as defined in the CRA) relating to the Customer, by CTOS, RAMCI or any source deemed appropriate to the Customer's credit history in relation to the Customer's application for or use of the Facility.

21.3

K&B may exercise any of its rights, powers and/or remedies available as K&B consider appropriate in addition to any other rights and remedies provided to K&B by law. In the event K&B does not take any action when it has the right to do so, it will not mean that K&B has:

• (a) agreed to the Customer's breaches;
• (b) forfeited its rights; or
• (c) is prohibited from taking any actions thereafter.

21.4

Where K&B has clearly waived a Customer's breach, it will not affect any enforcement of K&B's rights, powers and remedies for any other breaches committed by the Customer, whether it happen before or after the waiver.

21.5

K&B has the right at any time by notifying the Customer through emails, website announcements, application, short messaging notification at least twenty one (21) days before the effective date to add, change, sever, modify, replace or amend all or any parts of these TnC or to terminate the Facility entirely.