Details

TERM & CONDITIONS FOR EAUCTION

THE RATE FOR PURCHASE OF OFFERED GOODS IS TO BE SUBMITTED ON “BASIC AMOUNT ONLY ’’. GST @ 12% will be levies extra.

The sale of offered goods is on MT Basis considering 143 rolls & 92.40 MT approx "as is where is basis". The weighment may vary at the time of final lifting. 

The reels details as ahead at the time of initial survey (132 full reels, 10 Half reels, 1 reel 1/4)  

The salvage buyers, who are interested to participate in eauction are highly recommended to physically inspect the material and then only participate in eauction. This material is fire/water affected. Water content may available in paper. Water content is not adjustable at the time of final lifting. Hence salvage buyers are requested to bid keeping this point in mind.

The salvage buyers who are participating in online bidding will be assumed that they had physically inspected the material whether they had done or not.

Final payment will be calculated as per the final weight of the material at the time of lifting.

Salvage managers do not take any responsibility for quantity. Buyers are requested to visit the damage site before participating in eAuction and bid as per your own experience.

DYNAMIC TIME: The eAuction shall automatically extend by 5 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.

Participation charges is 500 + GST applicable. 

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.

After depositing 100% payment, the Purchaser shall start lifting and clear the lot awarded to him from the site within a period of 10 working days

The EMD of highest bidder/H1 will be refunded once the complete payment is received by insured/seller and complete material is lifted by highest bidder/H1 buyer.

EMD of the 2nd highest bidder shall be retained for 10 days from the date of approval of eAuction and may be asked to honor the deal at the second highest bid within the aforesaid period of 3 days.

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 agency 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 eAuctioning.