Standard Fee schedule
| Type of Salvage | Listing / Direct Bidding (15 days) | e-Auction |
|---|---|---|
| Motor Vehicle - Two Wheeler / Three Wheelers | Rs. 100 | 5% of Salvage value realised(including GST) + Expenses like advertisement placed on behalf of seller, Other charges as per approval of seller. |
| Motor Vehicle - Cars & Taxies | Rs. 250 | |
| Motor Vehicle - Trucks, Cranes, Tractors etc. | Rs. 500 | |
| Motor Vehicle - Spare Parts | Rs. 100 | |
| Non Motor / Plant & Machinery / Surplus etc | Rs. 1,000 | |
| Buyer Penalties | Forfeiture of deposit for particular bid only | |
| Seller Penalties | Nil | Rs. 5000 + Expenses |
| Other Charges applicable | ||
| Online Transaction Charges | As levied by third party agency through which transaction is made. | |
| Administration Charges | 1% above every transaction amount(for penalties only) | |
| External Advertisement Charges | As levied by third party agency | |
| KYC Compliance Charges | As levied by third party agency | |
| Taxes | Extra as per ongoing rates | |
| Money Point Allocation Table | ||
| Rs (x) = Rs. 20(x) Money Points | ||
| Rs. 1 | Will Fetch | 20 Money Points |
| Rs. 10,000 (Recommended) | 2,00,000 Money Point | |
| Rs. 1 Lakh | 20 Lakh Money Point | |
| Payment Schedule for H1 Buyers | ||
| From | To | Days Allowed |
| Rs. 1 | Rs. 5 Lakhs | 3 Days |
| Rs. 5 Lakhs | Rs. 50 Lakhs | 7 Days |
| Rs. 50 Lakhs | Any amount above | 15 Days |
| Late Payment Fee | Rs. 1000 per day OR 5% of the Total Transaction Value, whichever is higher, Maximum amount not to exceed Rs. 5 Lakhs. | |
| Late Payment and Penalty for Failure to Complete Purchase | ||
| If the winning bidder fails to pay the purchase price to seller and other fees within payment schedule after selection of the winning bid, then the winning bidder must pay a late fee to Salvage Managers / Seller as per above schedule. If the winning bidder fails to make full payment of the purchase price and other fees within time stipulated above, such bidder is in default and forfeits its rights to purchase the goods, in which case the seller may sell the goods to another bidder. A defaulting bidder will be assessed a Default Penalty, as set in the Standard Fee Schedule, and will be barred from bidding on other Auctions on the Site until the Default Penalty is paid. The Default Penalty must be paid in cash, unless otherwise agreed to by Salvage Managers. The defaulting bidder may be subject to other claims, damages or liabilities to the seller and/or Salvage Managers. | ||
| Late Payment and Penalty for Failure to Complete Sale | ||
|
The seller should ensure that whatever they are trying to sell is legal and they are allowed to it. At any stage if they fail to prove the same, they are liable to penalty and legal actions from the buyers who have placed bids in listings. We do not levy any special penalty but in occasional cases if it is felt the pattern is repetitive, we would like to drop such sellers from our process. Additional penalties may also be levied. This is management decision and will be decided from case to case. In e-Auctions the special conditions override this general condition. In case the seller is not continuing with the e-Auction results, they are required to satisfy the buyers legally and explain them adequately for the same. |
||
Motor
