Details

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 is MT basis exclusive of applicable Taxes

2.    Deposits and Lifting: After depositing 50% payment H1 buyer 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 15-20 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 day.

3.    Incidental charges: All charges incidental to loading 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. 500 + 18% GST = Rs. 590/-

6.    Information on invoicing: Registered Vendors

7.    Information on Taxes applicable: Not Confirmed

8.    Additional information on usage of salvaged goods / Brand Clause etc: No.

9.    Important Note: Insured is not registered with GST; hence they are unable to issue to GST invoice on the sale of this material. Buyers are requesting to quote your offer by keeping this in mind.

B.   GENERAL TERMS AND CONDITIONS

1.    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.

2.    Please note that the bidder's username (email) will be enabled allowing the buyer to bid only if the above mentioned EMD and participation form has been submitted within the stipulated time and written confirmation is received.

3.    Emails are the preferred mode of communication. The buyers should use the same email IDs registered by them for this E-Auction.

4.    There is generally no guarantee for quality of offered goods either by E-Auctioneer or by the seller, however it is the duty of the seller to ensure the compliance as per offer made by them for the quality & specification to match with the offer made.

5.    Lifting is to be made as per instructions given by the Seller. Room having a smaller quantity of material is to be lifted first, (IF so instructed by the Seller to MOA or E-Auctioneer or H1 in writing). The H1 Buyer shall not be allowed to pick or choose or segregate any particular item out of the lot sold by the seller at the time of delivery of the lot. The H1 Buyer shall be bound to clear the entire lot as directed by the seller on a clean sweep basis. 

6.    Verbal or whatsapp communications/instructions should be avoided by all the parties.

7.    Participation Form information:

7.1.This form is called participation form and is a multi-party contract between seller, buyer, MOA and E-Auctioneer. The seller after signing NOC has agreed to the T&C of the participation form and consensus of MOA is taken during finalisation of this form. The bidder has to sign and return this form. If due to technical issues the bidder is allowed to participate without signing the participation form, but he has deposited EMD, it is deemed that they have agreed to the T&C of this E-Auction.

7.2.Any other additional terms and conditions, contracts, agreements, easements, etc. entered between all or any stake holders (surveyors, insurers, insured, seller, insurance brokers, and buyer) privately for various reasons / actions (like delays, rent, “force majeure”, etc.) arising prior or subsequent to this e-Auction are not to be considered as part of this participation form. Any disputes arising due to such private contracts should be dealt separately without involving e-Auctioneer.

8.    Earnest Money Deposit ( EMD) Information:

8.1.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 in next 24 hours post to closure of eAuction.

8.2.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 Lack 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.

8.3.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.

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

8.4.1.   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.

8.4.2.   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.

8.4.3.   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.    

8.4.4.1       The status of H1 bidder will be upgraded/confirmed as H1 Buyer after receipt of 10% EMD and 40% advance payment. He will be allowed lifting after depositing 40%  payment +EMD 10%

8.4.4.2       If the H1 bidder fails to deposit 40% 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.

8.4.5.   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.

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

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

8.4.8.   “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:

1.    Delays in payments,

2.    Delays in lifting,

3.    Criminal or illegal activities,

4.    Intimidation of either party,

5.    Non adherence to the T&C of this document like “caveat emptor”, “Special Conditions”, “force majeure”, etc 

6.    Partial “Non-performance” is also “Non-performance”.

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

9.    Responsibility of Seller: The seller has to depute one person who has to coordinate for payment acceptance, issue of delivery orders, sales invoices, inspection facilitation, etc works required from time to time by e-Auctioneer and the buyers. The daily account of payments and deliveries should be made available to e-Auctioneer. A periodical schedule may also be agreed for such information sharing when the large lots are cleared. If seller is holding EMD, They have to ensure compliances as per the eAuction Participation form with regard to T&C of holding EMD & allowing lifting.

10.Responsibility of Buyer: The buyer is expected to inform the payments made to the seller. The seller should know in advance and remain ready before vehicle is placed for lifting. Any discrepancy should be brought to the knowledge of e-Auctioneer/ MOA.