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Instructions for the Participants:-

  • Bidders are requested to fill up the registration form Completely and submit the same along with the EMD (Earnest Money Deposit) by Bank DD / NEFT / RTGS Receipt at the auctioneer’s / seller’s address before the last date mentioned above along with the Self - attested copies of the required documents.
  • Participation and bidding shall be treated as conclusive evidence of the fact that the bidder has inspected the property being auctioned andthe documents pertaining to it and is satisfied in all respects regarding quantity, quality, condition of the tendered Property, Taxes and Duties, and other extraneous factors and the Principle of Caveat Emptor (let the buyer beware) will apply. It shall also imply that the bidder has carefully gone through and understood the terms and conditions of e-Auction including the amendments if any, prevailing at the time of e-Auction. Seller or any entity associated with the salvage disposal process will not entertain any complaints or objections once event is completed.
  • On approval, we will keep this EMD amount with us and will adjust/transfer directly to the seller at the time of final lifting. EMD of second highest bidder and the third highest bidder will remain with us for 20 working days. Second buyer will have to honor the deal at his bid amount and if he refuses to proceed with his bid, his EMD will also stands forfeited and the H3 will be asked to honor the deal. If the H3 also refuses to proceed with his bid, his EMD will also stands forfeited.
  • EMD’s of other bidders will be returned in 7 working days after completion of the bidding event. EMD will not attract any interest.
  • Bidders (H 1, H2 & H3) bid should be valid for 20 days.
  • Seller does not give warranty or guarantee of the quality, quantity, measurement, condition Chemical composition of each individual item/s or lot/s that form the auction / tendered property and about its “End Use” or fitness for a particular purpose. Sale is on “AS IS WHERE BASIS”, “WHATEVER IT IS” and “NO COMPLAINT BASIS”
  • The highest bidder/offer does not get any right to demand acceptance of his offer. SELLER (in consultation with insurer) reserves the right to accept / reject / cancel any bid, withdraw any portion of the Auction Property at any stage from Auction even after acceptance of bid / issue of delivery order or release order / deposit of full value by successful bidder without assigning any reason thereof. In the event of total rejection / ancellation / withdrawal, SELLER, shall refund the value of Auction Property, if paid for, to the successful bidder. SELLER shall not be responsible for any damages / loss whatsoever to the successful bidder on account of such withdrawal.
  • Lifting will be carried out as per the instructions given by the Seller (like more damage material will lift first) against payment made in advance. Materials must be removed (after making payments with GST and TCS (if any) on or before due date, failing which the contract will automatically stand terminated and the Earnest Money Deposit will stand forfeited for the breach of contract by the purchaser.
  • Purchasers are requested to follow all safety rules applicable or given by the seller at the time of lifting.
  • In the event of failure on the part of the successful bidder to fulfill his contractual obligations, seller reserves the right to debar such bidder from participating in any future auction conducted on behalf of seller.
  • In addition, EMD must be 10% of the total salvage value bid by the successful bidder and the EMD asked by us here is only the security deposit to enable to bidder to participate in the e-auction. The highest bidder has to deposit the balance amount of EMD i.e. 10% of the bid amount less the amount already deposited within 2 working days of completion of e-auction failing which his bid may be treated as cancelled and the security deposit also will stand forfeited.
  • The bidder shall have no right to withdraw, modify or question the sale after submitting a bid, by reason of any mis-description, error, defect or any other reason whatsoever.
  • If the Tenderer / purchaser wishes to take delivery of the goods through his authorized representative, he must authorize such person by letter of authority which shall be signed by the person who has signed the tender. The Seller may however refuse to accept or recognize the letter of authority and refuse to deliver to anyone other than the purchaser. However, in case of delivery to authorized representative, the Seller shall not thereafter be responsible to the Tenderer / purchaser for any loss or damage to the goods and no claim shall lie against the Seller even in case of any delivery to a wrong person. However, all documents including Delivery Challan, gate pass etc. shall be only in the name of the Tenderer / purchaser and not any authorized representative, unless otherwise agreed by the seller.
  • All notices and communication shall be deemed to have been received and accepted by a bidder if posted or emailed or sent on Whatsapp to the address given by the Tenderer in this Tender Form.
  • The Purchaser / Tenderer / Bidder shall in no case have any claim / dispute / rights against the Insurance Company / Surveyor / e-Auctioneer or any other person and the entire exercise of tendering / disposal, etc. is directly between the Seller and the Tenderer / Bidder / Buyer.
  • Bidders have to complete the work and remove all the salvage within 15 days from the date of issue of the sale order. In the event of any delay, the purchaser / bidder shall be liable to pay demurrage @ Rs.2,000/- for each day until removal of the entire goods unless otherwise agreed by the seller in consultation with the Insurers / Surveyors.
    Also, in case the Highest Bidder fail to lift the salvage / withdraws from lifting the salvage, we will at our discretion be free to dispose of the remaining / complete lot at his risk, cost and responsibility. No responsibility for the material lying at the Site after issue of the Sale Order will be taken.
  • This Sale shall be subject to the exclusive jurisdiction of BHILWRA (Rajasthan) Courts only.
  • No blasting / control blasting would be allowed. Safety of work at site and labors, tools & plants are responsibility of the bidder.
  • Any damage to adjoining / other property / structures / machinery and other machinery related material, electrical equipment’s and fittings / assets etc. (whether belonging to the seller or not) shall be recovered from the bidder / contractor for which nothing extra shall be paid.
  • The E-Auction will be conducted as per CVC Guidelines.

Note: -

1. e-Auctioneer’s reserves the right to restart the e-Auction at any stage in case of IT/ Server Breakdown or any kind of technical fault/failure related to web portal i.e. www.indiansalvagesettler.com

2. Bids are invited on weighment basis and quantification of all items may be required as per the advice of Surveyors / Insurers.

Biding Instructions:-

  • All participants are requested to register themselves on our website i.e. www.indiansalvagesettler.com to participate in the bidding event before/on last date of submission of Tender Form.
  • To qualify for the e-Auction, kindly provide the dully filled in e-Auction form along with the required documents and EMD.
  • After getting clarification on your submitted documents and the EMD, we will activate your Account for the e-Auction and you will be able to place bid. For unregistered bidders, the Bidders can register themselves on http://indiansalvagesettler.com/Register.aspx
  • During the bidding if anybody places a successful bid in last Five minutes, the ongoing bidding event will automatically increase by five minutes.

Terms & Conditions of the e-Auction:-

  • After the Result Declaration, successful bidder gets the sale order (if approved by the seller in consultation with the insurers).
  • On receipt of the sale order, successful bidder shall submit the balance amount other than EMD within 5 working days.
  • Successful bidder shall lift the complete salvage within 15 working days of depositing the complete payment.

Payment Terms: -

  • All charges incidental to loading and lifting of material such as loading, lifting, transportation etc. will be borne by the purchaser.
  • Bids are Exclusive of taxes which will be payable at the rates prevailing at the time of lifting of salvage.

Liability of Auctioneer / Surveyor / Insurers: -

Indian salvage settler is an Auction Firm and we are just providing platform to the sellers to sell their material. ‘Indian salvage settler is not the actual seller therefore takes no responsibility whatsoever including quantity / quality / documentations of the material on sale and hence will not be liable for any loss to the Seller or the Buyer by business, revenues, profit, costs, direct and incidental, consequential or punitive, damages of any claim. Buyer agrees to have discussed all the related matter regarding any transactions and have understood in full that we provide sources of supply or enquiries / leads for supply and have nothing to do any further especially with regards to quality, quantity, arranty, guarantees, delivery schedules, payments, rejections, transportation, legal laws and regulations to be followed from time to time and it is fully understood that the sale is on “As is Where is basis”, “Whatever It Is” and “No Complaint Basis”.

"Disclaimer of Risk and Waiver of Liability Relating to Corona virus/COVID19 The novel corona virus, COVID19, has been declared a worldwide pandemic by the World Health Organization. COVID19 is extremely contagious and is believed to spread mainly from person-to-person contact. As a result, Central government, State government and various Local municipal councils & health agencies recommend social distancing and have, in many locations, prohibited the congregation of groups of people as per Zones. Auctioneer / Insurance Surveyor, presumes that the Seller must have put in place preventative measures to reduce the spread of COVID19 towards salvaging of affected materials on site; however, Auctioneer / Insurance Surveyor cannot guarantee that Buyer(s)/Labourers visiting sellers premise for inspection/loading are not or will not be infected with COVID19.

The seller and the prospective bidders hereby agree not to put any responsibility on and to hold harmless the Auctioneer / Insurance Surveyor, their employees, agents, and representatives, of and from the Claims, including all liabilities, actions, damages, costs or expenses of any kind arising out of or relating thereto. The seller and the prospective bidders understand and agree that this disclaimer includes any Claims based on the actions, omissions, or negligence of the employees, agents, and representatives, whether a COVID19 infection occurs before, during, or after e-Auction for any matter incidental to this salvage process."