Building & other MS, SS , COPPER & GI SCRAP (

Specification

Item Id	936
Category	Building & other MS, SS , COPPER & GI SCRAP (
Manufacture name	Insured- M/s Iraj Evolution Design Company Pvt. Ltd
Model name	Building & other MS, SS , COPPER & GI SCRAP (As per list attached) – 42,276.11 Kg.
Model number	2020
Production date	12-Sep-2020
Location	Badgaon, Udaipur, Rajasthan
Market Maker	meenakshi@salvagemanagers.com
Sound Invoice Value	Rs. 4,33,500.00 / MT
Quantity	42.276 MT
Sound Invoice Lot Value	Rs. 1,83,26,646.00
Reserve Price	Rs. 45,000.00 / MT
Reserve Price Lot Value	Rs. 19,02,420.00

Remaining Time

Ongoing Lot Bid	Rs. 0.00
Current Bid	Rs. 0.00 / MT
Incremental Bid	/ MT
Next Minimum Bid	/ MT

Expired

Details

Brief Material description–

A.
Special Conditions/Commercial Terms of this
E-Auction:

(These
conditions override or supplement general T&C of this participation form)

Disposal of the above
material is being held on following special conditions specific to this
E-Auction:-

1. Basis of
sale: The sale of offered goods for Per MT basis exclusive of applicable
GST.

2. The
material of partial loss reels will be delivered after cutting the damage
material from the reels, however total loss material will be sold in reels.

3. Deposits
and Lifting: After depositing 100% advance payment within 3-5 working days H1
shall be allowed to start lifting and clear the lot awarded to them. The seller
has indicated that the site can be cleared within a period of 7 to 10
working days from the date of receipt of delivery order by H1. Any delay in
doing the same, H1 shall be liable to pay ground rent for the salvage
quantity uplifted and yet remaining at site. The rates charged would be Rs.
1000 per MT per day.

4. Incidental
charges: All charges incidental to loading and lifting of material will be
borne by the H1 Buyer.

5. Dynamic
Time: The eAuction shall automatically extend by 05 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 can be placed by 50% of
incremental bid value.

6. Participation/Facilitation
Fee = Rs. 500 + GST

7. Information
on invoicing: GST certificate, cancelled cheque, Pan card/Adhaar Card copy

8. Information
on Taxes applicable: GST@18%

9.
Additional information on usage of salvaged
goods / Brand Clause etc.: NA

A.
GENERAL TERMS AND CONDITIONS:

1. The
materials offered are damaged goods under insurance claim hence being offered
for sale on “As is Where is Basis ”,“Whatever There is Basis, ” and “No complaint” basis. No complaints
whatsoever will be entertained after the bid is made. The bidder is deemed
to have inspected, examined reasonably and satisfied himself as to all matters
regarding condition, type, quality, and quantity. Rule of “Caveat Emptor”
applies strictly.

1. Earnest
Money Deposit ( EMD) Information:

1.1. EMD is always 10% of the final bid amount.
To facilitate participation of more buyers, we (E-Auctioneer and MOA) may allow
participation at a lower amount than mandatory 10%. However H1 is required to
complete EMD amount before lifting of material.

1.2. Interested
buyers must pre-qualifying themselves for participation in the above auction,
by paying a pre-bid amount / EMD of Rs. 2,00,000/-(Two
Lakh Only) by mode of RTGS to the following account along with this
E-Auction form duly filled & signed.

Adwiti Technocrats Pvt. Ltd

Account no. 916020025588082, IFSC Code: UTIB0004770

Axis
Bank Limited. Sector- 27, Noida, U.P.

1.3. The
pre-bid / EMD and eAuction form to be deposited in physical form or electronic
form (NEFT + scanned form of EMD) to the latest by previous day of e-Auction.

1.4. The EMD
will not attract any interest & will be dealt with as per the procedure
mentioned below:-

1.4.1.
Wherever EMD is held by us, we are responsible for the return
release. Seller or MOA has no role of EMD forfeiting/retention for H3 &
below. EMD of H1 & H2 is at discretion and instructions of the seller and
MOA.

1.4.2.
In case of unsuccessful bidders, (H3 & Lower) EMD is refunded
immediately after adjusting the facilitation fee, but not later than 7-10
working days from the completion of the E-Auction process subject to the terms
and conditions mentioned herein and at the website. EMD holder to ensure the
compliance.

1.4.3.
EMD of the H2 bidder shall be normally retain for 10 days from the
date of approval of E-Auction. However please refer point no. 8.4.1 above.

8.4.4.1
The
status of H1 bidder will be upgraded/confirmed as H1 Buyer after receipt of 10%
EMD and 50% advance payment within 2 days after he is declared H1 bidder. He
will be allowed lifting after depositing 100% payment +EMD 10% in next 3 days

8.4.4.2
If the
H1 bidder fails to deposit minimum 50% payment (apart from 10% EMD) of the final bid value, within
2 days after he is declared H1 bidder, his EMD will be forfeited and H2
bidder will be upgraded to status of H1 and has to honour the deal at the H2
bid value with privileges and penalties of H1 bidder.

1.4.4.
The EMD of H1 bidder will be adjusted once the complete payment is
received by the seller and also complete material is lifted by H1
bidder. Also adjustment will be done for fee and expenses against EMD if the
seller or MOA has not paid for the same.

1.4.5.
In case of “Buyer’s Non-performance” the EMD may still be
forfeited. Opportunity may be given to H2.

1.4.6.
In case “Seller’s Non-performance” the E-Auction may be canceled
with total cost to be recovered from seller. MOA to decide the course of
action.

1.4.7.
“Non-performance” may be encountered wherever T&C of this
document and seller NOC are breached. The E-Auctioneer may decide on such cases
under consultation of MOA. Some example scenarios are as under:

Contact Salvage Manager about this items/lot.
Phone :	Meenakshi Gupta -9625137014
Email :	meenakshi@salvagemanagers.com