The OCBC Luxury Condo Contest 2005 (which includes any other names or references by which such contest may be called, referred to or stipulated by either Bank from time to time, the “Promotion”) is opened to all Eligible Account Holders of Oversea-Chinese Banking Corporation Limited (“OCBC(S)”) and/or OCBC Bank (Malaysia) Berhad (“OCBC(M)”) (each a “Bank” and collectively referred to as the “Banks”) from 15 April 2005 to 31 March 2006 (both dates inclusive) (“the Promotion Period”) subject to these terms and conditions.
Eligibility
1. Except as otherwise stated herein, any person who is:
(a) either (i) a new principal accountholder of a VISA/ MasterCard Credit Card (other than debit cards, private label cards and corporate credit cards) (a "Credit Card") issued by either Bank during the Promotion Period or (ii) an existing principal Credit Card accountholder whose Credit Card account is in good standing with either Bank during the Promotion Period (each, a "Credit Card Member" and collectively, the “Credit Card Members”); or
(b) either (i) a new applicant who opens a Prestige Credit / Personal Credit Line account with OCBC(S) during the Promotion Period or (ii) an existing Prestige Credit / Personal Credit Line account holder in good standing with OCBC(S) during the Promotion Period (each, a "Prestige Credit / Personal Credit Line Account Holder" and collectively, the "Prestige Credit / Personal Credit Line Account Holders”),
shall be eligible to participate in the Promotion subject to these terms and conditions.
For the purposes of these terms and conditions, “Eligible Account” means any Prestige Credit / Personal Credit Line account and/or the Credit Card account referred to in the foregoing and “Eligible Account Holder” means any Prestige Credit / Personal Credit Account Holder and/or Credit Card member. All references to the “Prestige Credit” and “Personal Credit Line” in these terms and conditions shall include such products which name(s) and/or reference(s) may be modified and/or amended by OCBC(S) from time to time.
2. Employees of either Bank and its related companies, either Bank’s advertising agencies and any other parties who are directly involved in organising, promoting or conducting the Promotion as determined by the Banks are not eligible to participate in the Promotion.
Allocation of Chances
3.1 Credit Card
(a) Fifty (50) chances will be awarded to each new Credit Card Member who is issued a Credit Card by either Bank during the Promotion Period.
(b) Each Credit Card Member will be awarded twenty (20) chances for each supplementary Credit Card that is issued by either Bank at his/her request during the Promotion Period.
(c) Chances are awarded each month to a Credit Card Member based on Credit Card transactions posted during the Promotion Period (which includes retail transactions, cash advances and balance transfers but excludes interest, finance charges, annual fees and card renewal fees) as reflected in the monthly statement of account of his/her Credit Card Card account (the “Qualifying Expenditure”). One (1) chance will be awarded to a Credit Card Member:-
(i) for every S$50 (but not part thereof) of Qualifying Expenditure (in connection with a Credit Card issued by OCBC(S)); or
(ii) for every RM100 (but not part thereof) of Qualifying Expenditure (in connection with a Credit Card issued by OCBC(M)),
and incurred by either the Credit Card Member or his/her supplementary cardholder(s).
(d) For the avoidance of doubt, PayAssist account holders and supplementary cardholders are not eligible to participate in the Promotion.
(e) Where any amount debited to the account of a Credit Card Member is subsequently reversed or recredited, the chances awarded on that account will be adjusted accordingly.
3.2. Prestige Credit
(a) Fifty (50) chances will be allocated to new Prestige Credit / Personal Credit Line Account Holders who open Prestige Credit / Personal Credit Line accounts with OCBC(S) during the Promotion Period.
(b) Chances are awarded at the end of each month during the Promotion Period to a Prestige Credit / Personal Credit Line Account Holder based on the average monthly outstanding balance of such month in his/her Prestige Credit / Personal Credit Line account (which excludes interest and finance charges) (the “Qualifying Balance”) as computed by OCBC(S). Ten (10) chances will be awarded to a Prestige Credit / Personal Credit Line Account Holder for every S$500 (but not part thereof) of the Qualifying Balance.
4. All chances allocated to an Eligible Account Holder will be eligible for the Initial Draw except in the following situations:-
(a) where any Credit Card, Prestige Credit / Personal Credit Line Account is suspended, closed or terminated (whether by either Bank or otherwise) for any reason whatsoever before the Initial Draw, all the chances accumulated in connection with such Credit Card, Prestige Credit / Personal Credit Line Account shall (subject to Clause 5 below) be automatically forfeited; and/or
(b) where an Eligible Account Holder is deceased, all the chances accumulated in connection with an Eligible Account vested or held in the name of the estate of such deceased original Eligible Account Holder shall be automatically forfeited.
5. The number of chances allocated to an Eligible Account Holder shall be final and conclusive and (save as expressly provided in these terms and conditions) not transferable. The Banks reserves the absolute discretion to transfer any of the chances accumulated in connection with an Eligible Account which is/are to be forfeited under Clause 4 above and deem such chances to have been allocated to any other Eligible Account(s) of the same Eligible Account Holder.
The Draw
6. Each Bank will select at random five Eligible Account Holders (the “Finalists”) on 28 April 2006 (the "Initial Draw") at [5.00 p.m.] or on such other date or time as may be determined by the respective Bank in the presence of its auditors. The Banks reserve the right to draw additional candidates to replace any of the Finalists subsequently found to be disqualified.
7. The Finalists will be notified by post within 5 working days from the date of the Initial Draw.
8. The Finalists will be entitled to participate in a final draw held on 10 June 2006 (the “Final Draw”) at the premises of OCBC(S) in Singapore at [5.00 p.m.] or on such other date or time or at such other venue as may be determined by OCBC(S). Any Finalist who ceases to hold an Eligible Account with the Bank at the time of the Final Draw shall not be eligible to participate in the Final Draw. Any Finalists who fails or is unable for any reason to attend the Final Draw shall be deemed to have forfeited his/her eligibility to participate in the Final Draw and shall not be entitled to any Prize or other compensation.
9. The Finalists will have to participate in a game and answer questions determined by the Banks posed to him/her by the judges at the Final Draw to qualify for a Prize. The person who completes the game in the fastest time and answers the question(s) posed to him/her correctly shall be awarded the First Prize (as defined below) whilst the remaining Finalists who has answered the question(s) posed to him/her correctly will be awarded a Consolation Prize each. In the event of a tie, additional question(s) will be posed to the relevant Finalists as a tie-break and the Finalist with the most number of correct answers shall be awarded the First Prize. For the avoidance of any doubt, there will be only be one (1) winner for the First Prize (“Final Winner”) in the Final Draw.
The Prizes
10. The prizes for the Final Draw (collectively, the "Prizes" and each, a “Prize”) are as follows:
(a) First Prize
a one bedroom condominium unit in 8 @ Mount Sophia, Singapore.
(b) Consolation Prize
cash of S$1000,
and are given subject to the following conditions:
(i) the specifications of each Prize may vary from pictures shown or description in any brochure, marketing or promotional material relating to the Promotion;
(ii) the First Prize excludes any chattels, fittings, furniture, legal, title survey and registration fees, insurance, maintenance charges, property taxes, stamp duties, goods and services taxes and any other incidental costs and fees. Such costs, fees and expenses shall be the responsibility of and be borne by the Final Winner;
(iii) the terms and conditions set out in the Option to Purchase/Sale and Purchase Agreement and such other terms and conditions as may be imposed by the developer, CPL Sophia Pte Ltd; and
(iv) the winner of the First Prize is required to obtain all necessary approvals to exercise the Option to Purchase and/or to sign the Sale and Purchase Agreement and appoint lawyers to act for him/her in the completion of the property, at his/her own cost and expense.
11. The Prizes shall not be transferable or exchangeable for cash, credit or otherwise and shall be collected at the risk and cost of the respective prize winner. The Prizes must be personally claimed by the prize winners. Where any Prize remains unclaimed for 2 months after the date of the Final Draw or a winner of any Prize ceases to hold an Eligible Account when such Prize is collected, it will be forfeited. Any winner whose Prize has been forfeited is not entitled to any payment or compensation notwithstanding non-receipt of notification.
12. The prize winners shall accept the Prizes on an "as is where is " basis and shall take the Prizes as they are. The Banks shall not be responsible for the quality, merchantability or the fitness for any purpose or any other aspect of any Prize.
13. Notwithstanding anything herein, each The Banks shall not at any time be responsible or held liable for any damage or defect in the Prizes, and/or for any loss, injury, damage or harm suffered or incurred by or in connection with the use of the Prizes by any person.
14. The Banks reserve the right to withdraw or substitute any Prize with other items without prior notice and without assigning any reason therefore.
General
15. The prize winners’ participation in the Initial Draw or the Final Draw is subject to the condition that the prize winner co-operate with and participate in any advertising or publicity activities of the Banks relating to the Promotion and that the Banks may publicise the name and/or photograph of the prize winners in such mode and manner as it considers fit.
16. Without prejudice to these terms and conditions, all participants’ participation in the Promotion is on the condition that they irrevocably permit and authorise the Banks to disclose, reveal and divulge information regarding their particulars to the parties involved in organising, promoting and conducting the Promotion for the purposes of the Promotion.
17. The Banks’ decision on all matters relating to the Promotion will be at their absolute discretion and will be final and binding on all participants. Without prejudice to the generality of the foregoing, either Bank’s record(s), including, without limitation, in relation to the chances awarded shall be conclusive for all purposes and be binding on all participants.
18. The Banks shall not be liable for any failure on its part to perform its obligations in connection with this Promotion or for any inconvenience, loss, injury , damages suffered by any of the participants, any third party or to any person in connection with the Promotion whether due to any reason within or beyond the control of the Banks, including but not limited to any error in computing chances, any breakdown or malfunction in any computer system or equipment, fire, earthquake, flood, epidemic, natural catastrophe, accident, riot, civil disturbance, industrial dispute, act of public enemy, embargo, war, act of God, any failure or disruption to postal, telecommunication, electricity or network services.
19. If any of the prize winners in the Final Draw is subsequently found to be ineligible to participate in the Promotion or ineligible to claim the Prize awarded to such winner, the Banks reserve the right to forfeit/reclaim such Prize and confer the same on such other person as may be selected in such manner as they deem fit.
20. The Banks reserve the right at their absolute discretion to terminate the Promotion or vary, delete or add to any of these terms and conditions from time to time without notice including without limitation, the basis of awarding the chances in the Promotion, the number of chances awarded and the date of the Initial Draw and Final Draw.
21. In the event of any inconsistency or discrepancy between the English version of these Terms and Conditions and the translation of these Terms and Conditions in any language, the English version shall prevail. In the event of any inconsistency between these terms and conditions and any brochure, marketing or promotional material relating to the promotion, these terms and conditions will prevail.
22. A person who is not a party to any agreement governed by these terms and conditions shall have no right under the Contracts (Rights of Third Parties) Act (Cap 53B) to enforce any of these terms and conditions.
23. These terms and conditions shall be governed by the laws of Singapore and the participants in the Promotion shall agree to irrevocably submit to the non-exclusive jurisdiction of the courts of Singapore.
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