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Standard Fee schedule

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    • Type of SalvageListing / 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.
    ABOUT  US

    We are e-Salvage Settlers, Auctioneer & salvaging agency (approved by IRDA surveyors & authorized by Underwriters) since April 2005, the only salvage auction agency complying with CVC guidelines with pan India presence.

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    PAYMENT  OPTIONS
    NEFT (EMD Deposits)
        Axis Bank Limited.

        Sector- 27, Noida, U.P.

        IFSC Code: UTIB0004770

        Adwiti Technocrats Private Limited

        Account No. 916020025588082

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