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  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.
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.
  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.
  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.
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.
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.
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.
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.
» 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.
» 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.
» 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.
» 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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