| Terms
& Conditions |
| NORMAL TERMS AND CONDITIONS OF AUCTION SALE |
| 1. |
DESCRIPTION OF MATERIAL: |
| a. |
The material shall be disposed of on “AS
IS WHERE IS” basis and in Wet, Dry or Rusty condition. No complaints
whatsoever will be entertained after the bid is made and it will be
expressly understood that the purchaser has fully satisfied himself
regarding the quality, quantity and the condition of the available
material before bidding. The disposable materials are normally kept
in the “Scrap Yard ” in open space and the company will
not be in any manner responsible for any damage/ deterioration of
the material. |
| b. |
The number, quantities or tonnage and the
nature of the material given in the catalogues are only indicative
and the material will be sold without any regard or consideration
to these number/tonnage of materials shown in the catalogue and no
warrantee shall be implied. |
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| 2. |
PAYMENT TERMS: |
| a |
Payments for lots costing upto Rs.5,000/-
(Rupees Five Thousand only) should be made in full by Cash or D.D.
on the fall of the hammer. Minimum EMD of Rs.5,000/- upto Rs. 20,000/-. |
| b. |
Earnest Money Deposit or Security Deposit
will bear no interest. |
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FOR ARRANGED LOTS: |
| c. |
Cash or D.D. payment not less than 25% of
sale value towards Earnest Money Deposit must be made on the fall
of the hammer by the successful bidder. |
| d. |
The balance 75% of the sale value must be
paid within 10 (Ten) working days from the date of auction
(excluding the date of auction) in the form of Cash or Demand Draft
drawn in favour of company as specified by the company. In case of
failure to pay this balance amount within the time limit granted by
the Company (10 days stipulated as per these terms & conditions
plus extension – if any – granted by the Company in special
cases) the E.M.D. will stand forfeited. |
| e. |
The Stores shall be removed by the auction
purchaser from the site of the Company within Twenty working days
from the date of auction (excluding the date of auction) after
making the payment of balance 75 % of the sale value within time limit
as given in 2(d) above. In case of failure to lift the material within
the stipulated time, ½% of the total sale value of the lot
per day will be charged towards ground rent up-to further ten days
only. Thereafter all amount deposited by the auction purchaser will
stand forfeited. |
| f. |
If on the fall of the hammer the highest
bidder fails to pay Earnest Money or full payment required, the bid
shall forthwith be cancelled and the lot re-auctioned. The defaulter
however will not be allowed to participate in the remaining auction
thereafter. |
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FOR ARISING LOTS: |
| g. |
A Cash / D. D. payment of 10% of sale value
towards Earnest Money Deposit must be made on the spot on the fall
of hammer. |
| h. |
The Stores must be removed by successful
bidder as per the schedule announced by the Company against the full
payment by the Demand Draft for the available material, including
all taxes wherever applicable. For this purpose the successful bidder
should contact the Company’s concerned authority every week to
ascertain the quantity available for lifting in the Scrap Yard. |
| i. |
In case the purchaser fails to make payment
and take delivery within the stipulated period, ½% of the value
of accumulated material will be charged as ground rent for the period
of one week only. Inspite of this extension if the purchaser still
fails to make payment and lift the material the E.M.D. (10%) amount
will be forfeited. |
| j. |
E.M.D will not be adjusted against the periodic
deliveries taken but will be returned to the purchaser after he removes
the entire scrap offered to him during the period of contract and
to the entire satisfaction of the Company. |
| k. |
Excess quantity to be lifted – if accumulated
– would be around ten to fifteen percent. |
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| 3. |
TAXES AND DUTIES: |
| a. |
Sale Tax or any other taxes applicable under
the “___________________” Sales Tax Act will be charged
extra. Excise duty if applicable will be charged extra. However, for
sake of convenience, bid would be exclusive of taxes and duties. |
| b. |
All Taxes and Duties like Sale Tax, Terminal
Tax, Excise Duty and any other taxes, duties (imposed) whether payable
to the Central Government or to the State Government or to the Municipal,
Local or other authorities shall be deposited by the purchaser with
the Company along with the purchase money as part of the purchase
price. Non-payment of any amount, payable under this clause will have
the same effect as non-payment of the purchase money and will result
in “Ipso Facto” termination of the contract and forfeiture
of the Earnest Money. If the liability of such Tax (imposed) and/or
duty, is in doubt, the Company will have a right to call upon the
purchaser to make provision, as the Company deems fit and proper to
ensure the recovery of such Taxes (imposed) and /or duty. If the tax
(imposed) and/or duty is not recovered at the time of delivery/dispatch,
the Company will have the right to call upon the purchaser to pay
such amount as may be due whenever the Company finds that it has omitted
to charge or the Company becomes liable to pay higher charge as result
of decisions or announcements by Government or any other competent
authority. Even though the full value of the materials cleared from
the Company’s work is paid the Company shall be free to call
upon the purchaser to make good the amount short recovered whenever
such contingency should arise. The Company shall be entitled to recover
the amount or amounts that might at any time become payable to the
Company by the purchaser on accounts whatsoever. |
| c. |
The purchaser should furnish copies of his
Sales Tax Registration Certificate along with Sales Tax Declaration
Form failing which there will be delay in issue of the Delivery Order.
No Delivery Order will be issued in favour of a purchaser who is a
registered dealer under the Sales Tax Act until he submits his Sales
Tax Declaration Form wherever applicable. |
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| 4. |
DELIVERY OF SCRAP MATERIAL: |
| a. |
The purchaser will make his own arrangement
for weighment, loading and transportation of the scrap from Company’s
premises. He will not entitled to claim any facility or assistance
in this regard. The material sold on weight basis will be weighed
on Company’s weighbridge in the presence of Company’s representative.
The weights recorded on the weighbridge will be final and binding
on both parties. No complaints as regards shortage in the weight will
be entertained. |
| b. |
The delivery of the material shall be given
to the person whose name and signature appears on the bid sheet. In
case the original purchaser wishes to take the delivery of the material
through his agent/representative, then he must issue a Letter of Authority
authorizing his agent/representative to take delivery. This letter
of Authority must be presented to the Officer concerned. The Officer
concerned may at his discretion decline to act on any such Letter
of Authority. It will be for the purchaser to satisfy the Officer
concerned about its genuineness. The Company will not be responsible
in any manner if the material is delivered to the wrong person while
delivering material to such persons. No claims will be entertained
by the Company on any account in such manner. |
| c. |
The purchaser is not entitled to choose
or pick any particular material from lot. He has to lift the entire
material as available in the lot and as per the directions of the
Company Officer. |
| d. |
The purchaser is not allowed to lift any
material other than the material described in the lot even if such
material is found in Scrap Yard at the time of taking delivery. The
material other than that described in the lot but found in Scrap Yard
is belonging to the Company and should not be lifted as scrap. In
case any successful purchaser is found collecting material belonging
to the Company willfully, severe action may be instituted by the Company
against such person. This may include even lodging of the Police Complaint. |
| e. |
The delivery will effected during _________________
hours only. (Except holiday and weekly offs) |
| f. |
The purchaser should obtain the payment
clearance certificate and take delivery order prior to taking actual
delivery of the scrap. |
| g. |
Re-sell will not be recognized and Release
Order will be made in the name of actual successful purchaser only. |
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| 5. |
FORCE MAJEURE CLAUSE: |
| a. |
Company shall not be liable for non-performance
of any contract either wholly or in parts nor for any delay in performance
resulting from time to time in cases beyond the Company’s control
including fire, strikes, go slow, lock-outs, closure, dispute with
workmen, uncertain and unstable labour situation, war, riots, civil
commotion, pestilence, epidemic, floods, accidents, damage or requirements
of Government force or any circumstances beyond the control of Company
whether directly due to or in consequence of the said cause or not
and the existence of such cause or consequence shall operate to the
extent of the time on the part of Company by such period as may be
necessary to enable the Company to effect performance after the cause
of the delay shall have ceased to exist. Should Company so determine
shall be entitled at any time without notice to the purchaser to cancel
any contract the performance of which is likely to be delayed by any
of the cause aforesaid and in such cases, the purchaser shall have
no claim upon the Company of any kind. The provision of this paragraph
shall not be limited or abrogated by any other terms of the contract
whether printed or written nor will be provision of this clause abrogate
or limit the effect of any other clause mentioned in these terms and
conditions. |
| b. |
In case any purchaser purchases a lot and
after making full payment removes part of the lot and fails to remove
the balance lot, then in that case after the stipulated time is over
(including the extension granted if any), the lot will be treated
as abandoned and whatsoever money is paid for the lot will be forfeited
alongwith the E.M.D. and the balance lot will be disposed of by Company
as deemed fit. |
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| 6. |
GENERAL: |
| a. |
The highest auction bid will be subject
to approval of the “Committee” appointed by the Company
which will supervise the auction sale and reserve the right to accept
or reject the highest bid without declaring any reasons whatsoever.
Such decision will be given on the spot at the time of the auction.
The Company reserves the right at its discretion to withdraw any lot
prior to commencement of auction without assigning any reasons thereof.
The auctioneer may even refuse to accept any bid from any person without
assigning any reasons for such refusal. |
| b. |
Deliveries will be made only during working
hours on working days. The material auctioned shall in every respect
remain at the risk of the auction purchaser from the date of auction
and Company shall not accept any liability for the safe custody or
preservation there of from that date. |
| c. |
The general condition of goods against all
lots of the list shall be treated as Scrap/ unserviceable lots and
condemned unless otherwise specifically mentioned against the items
or lots. |
| d. |
In case where Company proposes to auction
any particular item or items of stores by weight or number and not
on lot basis, announcement to that effect shall be made before such
stores are to be auctioned. The bid in such cases shall be for each
number or unit or weight. |
| e. |
Lots auctioned must be cleared within the
stipulated period to the extent of materials available. Partial lifting
will not be permitted |
| f. |
Successful execution of the contract will
mean complete clearance of the lot sold from specified location. |
| g. |
Purchasers are warned that any attempt to
misuse Gate Pass, Challan authorizing delivery, or any such documents
will liable him to serious penalties or such other action as may be
open to the Company. The purchaser should therefore ensure that important
documents relating to sale are in the custody of trustworthy and responsible
persons. |
| h. |
The lots sold must be cleared within the
stipulated period as stated in Clause No.2 (e). If the successful
purchaser at any stage either neglects or refuses or is unable to
take delivery of the materials for any reasons whatsoever within the
prescribed time or if the performance of the purchaser is unsatisfactory,
the Company will have the right to terminate the contract and forfeit
the E.M.D. amount and the claim such further losses and damages that
may be caused to Company by such breach. The decision of the Company
regarding satisfactory performance or otherwise will be final and
binding on the purchaser and such lots in question shall be resold
by the Company without any further reference to the purchaser. |
| i. |
Normally no gas cutting/ cutting of the
material will be allowed. However, in case where it is found that
without such facility the removal of the material is impossible, gas
cutting/cutting may be considered on specific request of the purchaser
depending upon the merit of the case keeping the safety angle in view
and will be sole discretion of the Company. If the material is required
to be shifted for cutting, the charge of shifting and cutting will
be borne by the purchaser. |
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| » |
ABIDANCE BY COMPANY’S RULES AND
REGULATIONS REGARDING SAFETY AND DISCIPLINE: |
| a. |
The purchaser, their servants and agents
shall be required to abide by all specific / general regulations of
safety and discipline within the Company’s premises. The material
will be handled by the purchaser, their servants/agents at their own
risk and any loss/ damage whatsoever to any individual or property
in such handling or as a consequence thereof shall be the sole responsibility
of the purchaser. |
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| » |
TERMINATION OF CONTRACT: |
| |
The Company reserves the right to terminate
the contract at any time on the following grounds: |
| a. |
Unsatisfactory execution or performance
of the contract by the purchaser. |
| b. |
For improper behavior of the purchaser
or breach of the terms and conditions of the contract, decision of
the company to terminate the contract shall be final and binding and
no claim for damages and / or compensation shall lie against the Company. |
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| » |
FAILURE TO TAKE DELIVERY AFTER PAYMENT: |
| a. |
If any purchaser requires extension of time
for lifting the materials they should do so in writing to the Company
before expiry of the stipulated delivery period. However, extension
may be granted at the sole discretion of the Company. The maximum
extension so permitted will be for 10 days after the expiry of contract
time and it will be granted only after the extra payment in advance
at the rate of ½% of the total sale value per day as ground
rent is made. |
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| » |
ARBITRATION AND JURISDICTION: |
| a. |
All dispute and difference arising, out
of this auction shall be referred to the sole arbitration of Company
or his nominee and the award of such arbitrator shall be binding on
both the parties. The contract shall be subject to the jurisdiction
of _____________________ Courts only. |
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