Fire Damaged Stock Finished/Composite Goods
|Category||Fire Damaged Stock Finished/Composite Goods|
|Manufacture name||Yash Fans & Appliances|
|Model name||Fire Damaged Stock Finished/Composite Goods|
|Location||Garkhal, Solan, Himachal Pradesh|
|Sound Invoice Value||Rs. 3,18,059.00 / MT|
|Sound Invoice Lot Value||Rs. 11,54,55,417.00|
|Reserve Price||Rs. 50,000.00 / MT|
|Reserve Price Lot Value||Rs. 1,81,50,000.00|
|Ongoing Lot Bid||Rs. 0.00|
|Current Bid||Rs. 0.00 / MT|
|Incremental Bid||/ MT|
|Next Minimum Bid||/ MT|
Term & Condition of e-Auction:
Disposal of the above material is being sold on‘ As Is Where Is’, ‘Whatever There Is’ and ‘No Complaint’ basis subject to the following condition:-
THE RATE FOR PURCHASE OF OFFERED GOODS IS TO BE SUBMITTED ON Per MT ONLY” BASIS. ALL APPLICABLE DUTIES, TAXES AND GST@18% are included.
The stock material is the finished/composite goods with a mixture of Copper, Aluminium & Metal. Proportions weight of copper, aluminium, and metal mentioned in annexure is tentative (before fire) and just for reference. This may vary on account of fire damage as these are the parts of composite material. Material will be disposed off as per mixed gross weight only.
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 the 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.
On approval, H1 should remit Initial Payment of Rs. 50, 00,000/- (Fifty Lakh) within 3 working days of receipt of bank details/allotment order, from the insured/seller/auctioneer, failing which their EMD will be forfeited.
50% amount of initial deposit (i.e. Rs. 25, 00,000) will be floater deposit .Purchaser will be allowed to lift the material of this value. Rest amount will be adjustable during final delivery.
H1 shall be allowed to clear the lot awarded to him from the site within a period of 10-15 working days from the date of receipt of delivery order by him, failing which he have to pay ground rent @ Rs. 1000/-MT for space occupied by salvage material.
The Auctioneer reserves the right to reject any bid without assigning any reason to the bidder
The earnest money deposit will not attract any interest & dealt with as per the Procedure mentioned below:-
a) . In case of unsuccessful bidders, (H3 & Lower) EMD is refunded immediately after adjusting facilitation fee of Rs. 1000+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.
b) 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 Initial Deposit within 3 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.
c) The EMD of H1 will be adjusted / refunded once the complete payment is received by insured/seller and also complete material is lifted by H1 bidder. Also adjustment will be done for our fee and expenses.
d) Since EMD is held by an auctioneer. They are responsible for the return release as well. Surveyor, Insurer or Insured has no role of EMD forfeiting/retention for H3 & below. EMD of H1 & H2 is at seller’s discretion.
The material shall be sold on “AS IS WHERE IS’ and "AS IS WHAT IS" 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.
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.
|Document 1 :||eAuction Participation Form.pdf|
|Contact Salvage Manager about this items/lot.|
|Phone :||Meenakshi Gupta -9625137014|