Terms & Conditions
These Terms and Conditions (“Terms”) govern the rental and the usage of facilities provided by Permodalan Satok Berhad (Company No. 916021-X) (Venue Provider). By signing a Facility Rental Agreement, the individual or organization (“Client”) agrees to be bound by these Terms. This agreement shall be read in conjunction with PSB’s Privacy Policy and Refund Policy, which form an integral part of the Client’s obligations.
1. Venue Rental
The Client agrees to temporarily lease, occupy, and use the designated Venue as per the Facility Event Rental Agreement (FRA).
2. Lease Period
Access is granted according to the agreed date and time. Normal access is from 8.30 a.m. to 5.30 p.m. daily. Overtime use will be charged RM 200.00 per hour, subject to Venue Provider’s approval unless otherwise agreed in writing.
3. Booking Fee Schedule
A booking is only confirmed upon payment of the required booking fee as stated in Agreement. The Detail(s) are as per below:
Detail(s) | Amount (RM) |
Hikmah Exchange Event Centre (Whole Building) | 2,500.00 |
Satok Ballroom | 1,500.00 |
Function Rooms | 500.00 |
4. Deposits
Deposit requirements are as per the following review periods:
Review Date | Deposit (%) Required |
90 days prior to the event | 10% of total estimated function charges |
60 days prior to the event | 40% of total estimated function charges |
30 days prior to the event | 50% of total estimated function charges |
20 days prior to the event | 80% of total estimated function charges |
Less than 10 days prior to the event | Full Payment |
5. Payment
Payments shall be made by cash, cheque (payable to Permodalan Satok Berhad), or bank transfer. Final balance must be settled within 14 working days after the event (for private functions). Late payments are subject to 10% per annum interest, compounding monthly.
6. Cancellations
Cancellation charges are applied as follows:
Review Date | Function Reduction |
90 days prior to the event | 100% refundable of Deposit Paid |
60 days prior to the event | |
30 days prior to the event | 60% refundable Deposit Paid |
Less than 20 days prior to the event | Deposit Paid Forfeited |
7. Responsibilities of Client
The Client is responsible for cleanup, proper use of facilities, and compliance with occupancy limits. Damages, loss, or legal actions resulting from misuse shall be borne by the Client.
8. Amenities
Agreed amenities such as PA system, tables, chairs, portable stage, Wi-Fi, restrooms, and parking are included in the rental fee unless otherwise stated. Additional requests will incur extra charges. Clients are responsible for cleanup and must return the Venue in its original condition. Failure to do so may result in additional charges.
9. Liability and Insurance
The Client shall indemnify and hold PSB harmless from any claims, damages, or liabilities arising from the event. Insurance is strongly recommended.
10. Dispute Resolution
Disputes shall be resolved through negotiation, mediation, and if necessary, arbitration via the Asian International Arbitration Centre. Applicable law is the Laws of Malaysia.
11. Governing Law
These terms are governed by the laws of Malaysia.
12. Changes of Agreement
Changes to this agreement cannot be made by the Client. The Client may only make changes if the Management of the Venue Provider gives written consent. If changes are allowed, they must be made within the grace period before the lease period begins. Any changes or cancellations after the grace period will not be accepted.
13. Force Majeure
Neither party shall be held liable for failure or delay in performance due to events beyond reasonable control, including but not limited to natural disasters, war, acts of government, or pandemics. In such cases, both parties shall seek a fair and mutually agreeable resolution.
14. Conduct
The Client shall ensure all guests and vendors conduct themselves appropriately during the event. Any misconduct, damage to property, or violation of venue rules may result in immediate cancellation or penalties.
15. Government Approval (if relevant for large events)
The Client is responsible for obtaining all necessary permits, licenses, and approvals from relevant authorities, if required.