MIB Fixed Rate

to Fixed Rate
VARIATION AGREEMENT (6 months
Moratorium)
TO : MAYBANK ISLAMIC BERHAD (200701029411)
15th Floor, Tower A, Dataran Maybank,1, Jalan Maarof, 59000 Kuala Lumpur

With reference to the Islamic Hire Purchase Agreement No. 789848248245 (hereinafter referred to as “said
Agreement”) relating to the goods thereunder described under the Schedule, I/we hereby request for the variation of
the period of hiring and details of payment as stipulated under the Schedule thereof in the following manner :-

1. That:-
a. the instalments from 28-Aug-2021 until 28-Jan-2022 be deferred (“Deferred Period”).
b. the hiring shall extended for 6 months. Therefore, the new duration of hiring shall be 91 months
(inclusive of the Deferred Period).
c. the monthly instalment shall be reactivated on 28-Feb-2022 of RM 872.00 and final instalment of
RM 836.08.
d. the instalments shall commence on the 28 day of each succeeding month.

2. Now in consideration of your agreeing to my/our request to vary the terms of the said Agreement, I/we
hereby agree to pay you the sum of RM1,208.56 being additional term charges on the principal during
the Deferred Period at prevailing Annual Percentage Rate (APR) 4.77% per annum, which will be
added to the financing balance and is to be paid together with the final instalment amount at (c) above.
Accordingly, I/we agree to the variation of period of hiring and Particulars Relating to Payments
column under the Schedule of the said Agreement.

3. As such, I/We agree and confirm that as at to date under the said Agreement, the total balance
outstanding of the amount inclusive of additional term charges is RM75,243.73.

4. I/We hereby agree that your acceptance or your consent to my/our request herein above shall not
operate as waiver of any of your rights or remedies under the said Agreement nor shall any act,
omission or breach on your part operate as a waiver of your rights and remedies under the said
Agreement.

5. The Owner shall be entitled to, at any time, set-off or transfer any sum or sums standing to the credit of
one or more accounts of the Hirer held with the Owner, including any savings account, fixed deposit
accounts, investment accounts or current accounts in or towards satisfaction of any liabilities of the
Hirer to the Owner, including any late payment charges under the Islamic Hire Purchase and any
amount in arrears of the Hire Purchase accounts of the Hirer.

6. All costs and expenses, including mileage, toll charges, parking, telephone charges, fax, short
messaging services (SMS) charges or internet charges which the Owner may incur in connection with
the Islamic Hire Purchase or in the recovery of the possession of the Goods and subsequent storage of
the Goods shall be payable by the Hirer to the Owner on demand.

7. Except where the context otherwise requires, or unless this Variation Agreement otherwise provides,
all words and expressions defined in the Agreement when used or referred to in this Variation
Agreement shall have the same meaning as that provided for in the Agreement.

8. Except as expressly varied in this Variation Agreement, all other terms and conditions contained in the
Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms
and this Variation Agreement shall form part of the Agreement.

9. If this Variation Agreement or any provision of this Variation Agreement is or becomes for any reason
invalid, illegal or unenforceable, it shall be severable from the Agreement and shall be deemed to be
deleted from it and the validity of the remaining provisions of the Agreement shall not be affected in
any way.

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10. If this Variation Agreement is sent to, or executed by, me/us through electronic means acceptable to
the Owner (including via e-mail or Maybank2u.com):

a)       I/We hereby confirm and acknowledge to the Owner that I/we have read, understood and
accepted the terms and conditions of this Variation Agreement.

b)      I/We hereby agree and undertake that my/our execution of this Variation Agreement using
electronic means shall be valid and enforceable in accordance with, and conforms to the Electronic
Commerce Act 2006 and the Hire Purchase Act 1967. I/we shall not dispute any claims that affirm the
validity of the execution this Variation Agreement under the applicable laws.

c)       I/We hereby acknowledge that the Owner will not accept my/our acceptance of the Variation
Agreement if the reply email address is different from the email address which the Owner had sent the
Variation Agreement to.

d)       I/We hereby agree and acknowledge that if the Owner requires for this Variation Agreement to
also be signed or delivered physically, I/we shall attend to the requirement.

☐ I confirm that I am the borrower / hirer and have read the Variation Agreement and agree to
the terms & conditions stipulated. This email serves as my acceptance to the Variation
Agreement in accordance with the Electronic Commerce Act 2006.

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