Details

Terms & Condition of e-Auction

THE RATE FOR PURCHASE OF OFFERED GOODS IS TO BE SUBMITTED ON “Total Amount (BASIC+GST) – ALL INSCLUSIVE” BASIS.

The sale of offered goods is on Kgs Basis.

The photos given are only indicative; you are requested to conduct a physical inspection of materials informed, to get an actual assessment of the loss.

 DYNAMIC TIME: The e-Auction shall automatically extend by 5 MINUTES in case someone enters a bid in the last one minute of the remaining time in closure of auction. This shall continue indefinitely until no one bids in the last one minute of the time remaining. Bids in dynamic time will be placed by 50% of incremental bid value.

The Auctioneer reserves the right to reject any bid without assigning any reason to the bidder. Auctioneer’s reserves the right to restart thee-Auction at any stage.

After depositing 100% payment, the Purchaser shall start lifting and clear the lot awarded to him from the site within a period of 10 working days

The EMD of highest bidder/H1 will be refunded once the complete payment is received by insured/seller and complete material is lifted by highest bidder/H1 buyer.

EMD of the 2nd highest bidder shall be retained for 10 days from the date of approval of e-Auction and may be asked to honor the deal at the second highest bid within the aforesaid period of 3 days.

The Salvage Managers or the associated Loss Adjusters or Underwriters, being only the facilitators for disposal of salvage, have no knowledge about the specific trade requirements and shall bear no responsibility of any kind, in this regard of whatsoever nature.

The website www.salvagemanagers.com is maintained by external agency at external servers. Any problem while bidding or technological glitches/problems may occur accidentally and such problems will be dealt in order to complete the entire process smoothly. The surveyor’s decision in this regard will be final as they have appointed us to bring transparency in the system by e-Auctioning.