Details

A.  
Special Conditions / Commercial
Terms of this E-Auction:

(These
conditions override or supplement general T&C of this participation form)

Disposal of the above material is being held
on following special conditions specific to this E-Auction:-

1.    Basis
of sale: The sale of offered goods is Lot basis exclusive of applicable
Taxes

2.    Deposits
and Lifting: After depositing 100% advance payment H1 buyer shall be allowed to start
lifting and clear the lot awarded to them. The seller has indicated that the
site can be cleared within a period of 10-15 working days from the date
of receipt of delivery order by H1. Any delay in doing the same, H1 shall be
liable to pay ground rent for the salvage quantity uplifted and yet
remaining at site. The rates charged would be Rs. 1000/-per day.

3.    Incidental
charges: All charges incidental to loading and lifting of material will be
borne by the H1 Buyer. 

4.    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
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.

5.    Participation
/ Facilitation Fee = Rs. 500 + 18% GST = Rs. 590/-

6.    Information
on invoicing: Registered Vendors

7.    Information
on Taxes applicable: Not Confirmed

8.    Additional
information on usage of salvaged goods / Brand Clause etc: No.

B.  
GENERAL TERMS AND CONDITIONS

1.    The
materials offered are damaged goods under insurance claim hence being offered
for sale on “As is Where is”, “Whatever there is” and “No complaint” 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. Rule of “Caveat
Emptor” applies strictly.

2.    Please
note that the bidder's username (email) will be enabled allowing the buyer to
bid only if the above mentioned EMD and participation form has been submitted
within the stipulated time and written confirmation is received.

3.    Emails
are the preferred mode of communication. The buyers should use the same email
IDs registered by them for this E-Auction.

4.    There
is generally no guarantee for quality of offered goods either by E-Auctioneer
or by the seller, however it is the duty of the seller to ensure the
compliance as per offer made by them for the quality & specification to
match with the offer made.

5.    Lifting
is to be made as per instructions given by the Seller. Room having
a smaller quantity of material is to be lifted first, (IF so instructed by the
Seller to MOA or E-Auctioneer or H1 in writing). The H1 Buyer shall not be
allowed to pick or choose or segregate any particular item out of the lot sold by
the seller at the time of delivery of the lot. The H1 Buyer shall be bound to
clear the entire lot as directed by the seller on a clean sweep basis. 

6.    Verbal
or whatsapp communications/instructions should be avoided by all the parties.

7.    Participation
Form information:

7.1. This
form is called participation form and is a multi-party contract between seller,
buyer, MOA and E-Auctioneer. The seller after signing NOC has agreed to the
T&C of the participation form and consensus of MOA is taken during
finalisation of this form. The bidder has to sign and return this form. If
due to technical issues the bidder is allowed to participate without signing
the participation form, but he has deposited EMD, it is deemed that they have
agreed to the T&C of this E-Auction.

7.2. Any
other additional terms and conditions, contracts, agreements, easements, etc.
entered between all or any stake holders (surveyors, insurers, insured, seller,
insurance brokers,and buyer) privately for various reasons / actions (like
delays, rent, “force majeure”, etc.) arising prior or subsequent to this
e-Auctionare not to be considered as part of this participation form. Any
disputes arising due to such private contracts should be dealt separately
without involving e-Auctioneer.

8.    Earnest
Money Deposit ( EMD) Information:

8.1. EMD is always 10% of the final
bid amount. To facilitate participation of more buyers, we (E-Auctioneer and
MOA) may allow participation at a lower amount than mandatory 10%. However H1
is required to complete EMD amount in next 24 hours post to closure of eAuction.

8.2. Interested
buyers must pre-qualify themselves for participation in the above auction, by paying
a pre-bid amount / EMD of Rs.1,50,000 by mode of RTGS to the following
account along with this E-Auction form duly filled & signed.

Adwiti
Technocrats Pvt. Ltd

Account
no. 916020025588082, IFSC Code: UTIB0004770

Axis Bank
Limited. Sector- 27, Noida, U.P.

8.3. The
pre-bid / EMD and eAuction form to be deposited in physical form or electronic
form (NEFT + scanned form of EMD) to the latest by previous day of e-Auction.

8.4. The
EMD will not attract any interest & will be dealt with as per the procedure
mentioned below:-

8.4.1.   Wherever
EMD is held by us, we are responsible for the return release. Seller or MOA has
no role of EMD forfeiting/retention for H3 & below. EMD of H1 & H2 is
at discretion and instructions of the seller and MOA.

8.4.2.   In
case of unsuccessful bidders, (H3 & Lower) EMD is refunded immediately
after adjusting the facilitation fee, but not later than 7-10 working days from
the completion of the E-Auction process subject to the terms and conditions
mentioned herein and at the website. EMD holder to ensure the compliance.

8.4.3.   EMD
of the H2 bidder shall be normally retain for 10 days from the date of approval
of E-Auction. However please refer point no. 8.4.1 above.

8.4.4.    

8.4.4.1      
The
status of H1 bidder will be upgraded/confirmed as H1 Buyer after receipt of 10%
EMD and 100% advance payment. He will be allowed lifting after depositing 100%  payment +EMD 10%

8.4.4.2      
If the H1 bidder fails to deposit
100% payment (apart from 10% EMD) of the final bid value, within 3 days
after he is declared H1 bidder, his EMD will be forfeited
and H2 bidder will be upgraded to status of H1 and has to honour the deal at
the H2 bid value with privileges and penalties of H1 bidder.

8.4.5.   The
EMD of H1 bidder will be adjusted once the complete payment is received by the
seller and also complete material is lifted by H1 bidder. Also
adjustment will be done for fee and expenses against EMD if the seller or MOA
has not paid for the same.

8.4.6.   In
case of “Buyer’s Non-performance” the EMD may still be forfeited. Opportunity
may be given to H2.

8.4.7.   In
case “Seller’s Non-performance” the E-Auction may be cancelled with total cost
to be recovered from seller. MOA to decide the course of action.

8.4.8.   “Non-performance”
may be encountered wherever T&C of this document and seller NOC are
breached. The E-Auctioneer may decide on such cases under consultation of MOA.
Some example scenarios are as under:

1.    Delays
in payments,

2.    Delays
in lifting,

3.    Criminal
or illegal activities,

4.    Intimidation
of either party,

5.    Non
adherence to the T&C of this document like “caveat emptor”, “Special
Conditions”, “force majeure”, etc 

6.    Partial
“Non-performance” is also “Non-performance”.

Wherever
EMD held by E-Auctioneer, the EMD of H1 and H2 may be refunded by E-Auctioneer
upon instructions of seller and MOA.

9.    Responsibility
of Seller: The seller has to depute one person who has to coordinate for
payment acceptance, issue of delivery orders, sales invoices, inspection facilitation,
etc works required from time to time by e-Auctioneer and the buyers. The daily
account of payments and deliveries should be made available to e-Auctioneer. A
periodical schedule may also be agreed for such information sharing when the
large lots are cleared. If seller is holding EMD, They have to ensure
compliances as per the eAuction Participation form with regard to T&C of
holding EMD & allowing lifting.

10. Responsibility
of Buyer: The buyer is expected to inform the payments made to the seller. The
seller should know in advance and remain ready before vehicle is placed for lifting.
Any discrepancy should be brought to the knowledge of e-Auctioneer/ MOA.