Royal Basmati Rice –29,238 MT


Specification

Item Id 617
Category Royal Basmati Rice –29,238 MT
Manufacture name LT FOOD LTD.
Model name Royal Basmati Rice –29,237.6 kg
Model number 2020
Production date 18-Sep-2020
Location Mandideep, Mandideep, Madhya Pradesh
Market Maker meenakshi@salvagemanagers.com
Sound Invoice Value Rs. 85,000.00 / MT
Quantity 29.238 MT
Sound Invoice Lot Value Rs. 24,85,230.00
Reserve Price Rs. 20,000.00 / MT
Reserve Price Lot Value Rs. 5,84,760.00
Remaining Time
Ongoing Lot Bid Rs. 0.00
Current Bid Rs. 0.00 / MT
Incremental Bid / MT
Next Minimum Bid / MT
Expired

Details

Royal Basmati Rice 
Quantity:  28 Bags Jumbo Bags (29.238 MT.)

Term & Condition of e-Auction:



Disposal of the above material is being sold on ‘’without brand /
de-branded in simple white bags as per company policy’’
basis subject to the following condition:-



THE RATE FOR PURCHASE OF OFFERED
GOODS IS TO BE SUBMITTED ON
 “TOTAL AMOUNT BASIS ONLY ’’



The sale of offered goods is per MT basis



DYNAMIC TIME: The e-Auction 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 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
the e-Auction at any stage.



The Purchaser (H1/H2) should remit 50% advance payment
within 3 working days
 of receipt of bank
details/allotment order, from the insured/seller/auctioneer, failing which
their EMD will be forfeited.



After depositing 50% payment, the Purchaser
shall start lifting and Post to 100% payment he shall be
allowed to clear the lot awarded to him from the site within a period of 15
working days
 from the date of receipt of delivery order by him,
failing which he have to pay ground rent for the salvageable
quantity a per sellers T&C or minimum of Rs. 2,000/-day or Rs 1000/-MT for
space occupied by salvage material quantity.



In case of unsuccessful bidders, (H3 & Lower) EMD is
refunded immediately after adjusting facilitation fee of Rs. 100+GST but not
later than 7-10 working days from the completion of eAuction process subject to
the terms and conditions mentioned herein and at the website.



EMD of the H2 bidder shall be retained for 10 days from
the date of approval of eAuction. If the H1 bidder failed to deposit
payment within 3-5 days his EMD will be forfeited 
and H2 bidder has to
honor the deal at the H2 bid value within the aforesaid period of 3 days.
Failing to which his EMD too will be forfeited.



The EMD of H1 will be adjusted once the complete payment
is received by the insured/seller and also complete material is
lifted 
by the H1 bidder. Also adjustment will be done for fee and
expenses.



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 agencies 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.
 

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

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