Details

Disposal of the above material is being
“As is Where is”, “Whatever there is” and “No complaint” basis, held on
following special conditions specific to this E-Auction:-

1.    Basis of sale:
The sale of offered goods is Per Bag
basis exclusive of applicable GST/ taxes

2.    Deposits and
Lifting: After depositing 100% advance payment (apart from 10% EMD) of
the final bid value within 3 to 5 working days, post
to 100% payment shall be allowed to 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 un-lifted and yet remaining
at site. The rates charged would be Rs. 1000 per MT per day.

3.    Incidental
charges: All charges incidental to loading, cutting and lifting of material
will be borne by the H1 / Buyer. 

4.    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.

5.    Participation
/ Facilitation Fee = Rs. 100/- + 18% GST

6.    The materials
offered are damaged goods under insurance claim hence being offered for sale on
“As is Where is”, “Whatever there is” 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

7.    Interested
buyers must pre-qualify themselves for participation in the above auction, by
paying a pre-bid amount / EMD of Rs. 1,00,000/-(One Lakh) 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.

8.    The
pre-bid / EMD and eAuction form to be deposited in physical form or electronic
form (NEFT + scanned form of EMD) to the 8 business Hours in advance prior to
e-Auction.

9.    Earnest Money
Deposit (EMD) Information:

      i.        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.

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

    iii.        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.

   iv.        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.

    v.        EMD of the H2
bidder shall be retained for 10 days from the date of approval of E-Auction. 

   vi.        If the H1
bidder fails to deposit minimum 50% payment (apart from 10% EMD) of the final
bid value, within 3 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.

 Wherever
EMD held by E-Auctioneer, the EMD of H1 and H2 may be refunded by E-Auctioneer
upon instructions of seller and MOA.

All charges incidental to loading and lifting
of material will be borne by the Purchaser. It is assumed that prospective bidders
have inspected the above salvage and acquainted themselves about the offered
goods available for purchase, whether they have actually inspected the same or
not. However, it is expected that the prospective bidders will inspect the salvage
at site, before participating in eAuction. Any failure in doing inspection is
not a liability of eAuction agency.

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.