BUYER SPECIFIC TERMS & CONDITIONS
MSTC Ltd. shall be hereinafter referred to as
"MSTC" or Administrator and the participating parties or
individuals shall be hereinafter referred to as "Bidders", the successful bidder
shall hereinafter be referred to as the buyer or purchaser. The organisation
on whose behalf MSTC will conduct auction as their Selling Agent shall be referred to as
the principal who is otherwise the owner and stock holder of materials to be sold.
The general terms
& conditions (hereinafter referred to as the GTC ) are common for all auctions and are
in addition to Special Terms & Conditions( hereinafter referred to as the STC),
if any, for any particular auction and shall form an integral part of the auction and so
far as it has not been altered or modified by the STC. In case of any conflict or
difference between any provision of the GTC and STC, the provision of STC will prevail for
that particular auction.
TRADEMARKS AND COPYRIGHTS
The bidder acknowledges and agrees that wherever applicable, the content,
including but not limited to text, software, music, sound, photographs, graphics, video,
or other material contained in Website, including advertisements or information is
protected by domestic and international copyrights, trademarks, service marks, patents, or
other proprietary rights and laws. The bidder is permitted to utilize this material and
information only for personal use, and shall not copy, reproduce, transmit, distribute, or
create derivative works of such content or information without express authorization. MSTC
shall not be held liable for any misuse or infringement of any trademark or copyright by
the bidder, and the bidder shall be solely liable for any damages, claims, actions, etc.
for infringement or violation of the same. MSTC reserves the right at its sole discretion
to terminate the access of the bidder to the Website, if the bidder violates the
provisions of this clause.
arising in connection with the interpretation or implementation of these terms and
conditions shall be resolved by arbitration under the Arbitration and Conciliation Act,
1966. The language of the arbitration shall be English. The place of arbitration shall be Kolkata,
India. All disputes covered under this Arbitration clause shall be referred to the
CMD, MSTC Limited, Kolkata for adjudication by him or by his nominee.
Only the Courts at KOLKATA, INDIA shall have the exclusive jurisdiction to entertain
any dispute connected with the arbitration proceedings or any other matter or claim
arising out of or in connection with the e-auction.
BIDDING AND BUYING
All bids on the Site are a firm commitment to purchase.
If you are the highest bidder at the end of an auction (meeting the applicable minimum bid
or reserve requirements) and your bid is accepted by the seller, you are obligated to
complete the transaction with the seller. Bids may be increased in price or volume later
but may not be withdrawn. Bids cannot be cancelled.
All bids must
be in Indian Rupees Only.
By bidding on an item you agree to be bound by the
conditions of sale included in the items description (or linked to form the
description) so long as those conditions of sale are not in violation of this Agreement or
unlawful. In case of consumer good, sellers on the Site may or may not specify the retail
prices of the items being sold. You are advised to independently verify the retail prices
of such items if you so desire.
MSTC strongly advises you not to test the auction
process with false bids, as it will put you at substantial personal legal risk. It is a
crime to use a false name, other false personal information or known invalid credit card
to bid. Willfully entering erroneous or fictitious bids may result in prosecution by MSTC.
In the event of Dual Winners displayed online for a
Single Auction, the bidder who has received by Winning Email will be rightful Winner, and
beyond that there is not liability.
PRIORITY IN BIDDING
In Order to qualify and be identified as
a successful bid, the following priority parameters will be follows :
||The higher price bids always supersedes the
lower price bids.
||Between bids of the same price, the bid, which
was placed prior in point of time, shall supersede.
MSTCs decision on
the success or otherwise of a bid shall be final and binding. It reserves the right to
reject or void bids, whether winning or not, that it deems not to have been made in good
faith, or that are restricted or prohibited.
MSTC/Owner shall not be
liable for any failure or delay in performance due to any reason / cause beyond their
control including fires, floods, go-slow, lock-out, closure, pestilence, dispute with
staff, dislocation of normal working conditions, war, riots, epidemics, political
upheavals, government action, civil commotion, breakdown of machinery including technical
failures, shortage of labour, acts demands or otherwise or any other cause or conditions
beyond the control of aforesaid cause or not and the existence of such cause or
consequence may operate at the sole discretion of MSTC / Owner to extend the time of
performance on the part of MSTC / Owner by such period as may be necessary to be necessary
to enable MSTC/Owner to effect performance after the cause of delay will have cause exist. The provisions aforesaid
shall not be limited or abrogated by any other terms of the contract whether printed or
PAYMENT IN e-AUCTION
All intending bidders
and buyers for participating in E-Auction will have to register on line. All intending bidders and buyers should fill in
the relevant details all on line and pay non-refundable registration fee of Rs.10,000/- off line
On completion of
details as per registration format and payment of registration fee, all such bidders
will be able to access the auction floor with the the user id and password they have
chosen at the time of registration. Such bidders will henceforth be called as
||None other than
the registered bidders will have any access to the details of the auction.
The auction notification mentioning the starting date, list of materials,
location of materials, name of principal or owner will however, be available on our
web-site for all Internet users.
The details of the auction will be hyper-linked to the unique auction number for
each individual auction. The registered bidder can enter into the details which will
be as follows :-
a) Opening and closing date and time
b) Name and location [address] of the principal of the owner of the material
c) Brief description of the materials with its location and approximate quantity put up
d) Period of inspection.
||After selecting the desired auction, all user can finally
arrive at the auction floor containing list of items, quantity, unit of measurement
and column for bidding.
a) Each item name of the materials will be hyper-linked
to details of the items.
||The following information will be present in the auction floor :-
- Opening date and time
- Closing date and time
- Item number
- Item name, hyper-linked to relevant details containing
duties etc./ special terms of lifting etc.
- Quantity and unit of measurement
- Location of material/item
- Last bid or basic price, if any.
- Your bid in Rs./UOM
- Bid history
time of an auction shall automatically be extended by 5 minutes for all Coal auctions and by 15 minutes for all other auctions if bid continues (e.g. in
case the closing time is 5-30 p.m. of any particular date and if any bidder bids at 5.29
p.m. then the closing time will be automatically extended
to 5-44 p.m. in case of auctions other than Coal Similarly, if any
bidder again bid at 5-43 p.m. then the closing time will automatically be extended to 5-58
p.m. in case of auctions other than Coal and so on ).
A bid once given cannot be retracted.
Each bidder will have the option to declare his maximum value of bid (
which can not be viewed by any bidder ) up-to which his automatic bidding will
continue. This maximum value of the bid / increment value may be enhanced by the bidder at
any time before the closing of the auction. In case there is a tie in the highest bid
offered by some one else with the maximum value opted by a automatic / proxy bidder then
the bid of the automatic / proxy bidder will be acknowledged as H1 bidder and a flash
would appear to inform the bidder other than the automatic / proxy bidder that there is a
tie and he may bid a higher amount.
items will be marked "sold" after closing of the auction when the highest
bid is greater than the reserve price and automatically intimation to the concerned buyer
will be sent on line for making payment as detailed in the subsequent paras.
Only STA will appear against a lot after closing
of the auction for which final approval will be intimated separately. STA
marking will only appear when the price fetched as the highest bid in the auction is below
the reserve price up-to a certain percentage, as indicated by the principal before the
starting of auction.
A lot or item can be
withdrawn from the auction before starting of the auction as well as during the auction
without assigning any reason.
FOR ACCEPTED BIDS
||All payments are to be made physically
i.e. either by Demand Draft/Pay Order/Banker's Cheque etc. and will be accepted in any of
the offices (Branch/Region/Hqs. ) of MSTC.
The bid value
together with all taxes as applicable shall have to be paid by the successful bidder by
Demand Draft/Pay Order/Banker's Cheque drawn as stipulated in the relevant provision of
special terms & conditions. The payment can be staggered being opted by the
buyer for which buyers are requested to see the payment schedule in STC.
||Notwithstanding anything continued in
STC the buyer will have option to make full payments in all respect within the period of 1st
||The sale value including all taxes if
not paid within the above time limits, it shall be paid within such time limit as may be
extended by the principal or MSTC in consultation with principals, together with ground
rent. Such ground rent shall be charged for a minimum period of one week or multiple
thereof @ 1% of the value of materials for a week or part thereof.
The sale value, as well taxes, Excise duty plus any other levies as applicable
and payable by DD/PO will have to be deposited with the authority as specifically
mentioned in the relevant clauses of Special Terms & Conditions.
In case of payment
made by Bank Draft/Pay Order, the same will have to be deposited with the appropriate
authority within the stipulated time/extended time. In the event of any default
thereof, the successful bidder shall be liable to pay additional amount by way of ground
rent as mentioned above. Should however the buyer fails to make the requisite
payment within the time / extended time stipulated, the sale relating to such
lot can be cancelled at the discretion of MSTC and the registration money given by the
bidder shall be forfeited in full and MSTC shall, in addition, to registration money, be
entitled to recover any incidental / consequential loss suffered by it as a result of such
failure. The authority shall not be bound to give any notice to the buyer for
the said forfeiture.
Delivery order or
permission to remove the goods will be issued by MSTC or even by principal themselves or
as has been indicated in relevant clauses of STC, after all payments of installments value
or sale value including duties, taxes and levies are made in full by the buyer.
OF LOTS/ITEMS ON SUBJECT TO APPROVAL BASIS
In case of lots where
bids have been kept open for the decision by the higher authority of the principal or
owner of the material at a later date, the buyer will have to pay the earnest money @ 10%
of the sale value plus applicable taxes and duties within 3 working days from the next
date of the closure of auction. On final approval, the payment of balance sale value
will have to be made in the same procedure as at clauses 5.2 (a) to (f). The date of
acceptance of bid will be the date on which the principal/MSTC sends the acceptance
message to the buyer. In the event of payment on accepted bids not being
completed within the time specified, the earnest money in addition to the registration fee
shall be forfeited without any further notice to the buyer. For delay in making
payment, the ground rent as mentioned at para-5.2 (e) will apply. In case the
earnest money as mentioned above are not deposited within the time specified, the
registration fee will be forfeited without any further notice, where the bids are not
accepted finally, the earnest money deposit by the bidder shall be refunded to the buyer.
The goods are
sold as and where they lie, on as is where is basis, the whole of the lot/lots shall be
taken from the site of accumulation with all faults and errors in description.
Otherwise the quantities, qualities, size or sizes, measurement, numbers and weights as
stated in the auction floor and or in any delivery documents are only approximate and no
guarantee or guarantees shall be implied. The goods are sold on the specific
assumption that whether the bidders have inspected the lots or not the principle of
Caveat-emptor will apply. No complaint will be entertained after sale.
Quantities made in
the lot are approximate and MSTC holds out no warranty as regards the quantity and fitness
of the goods for any particular purpose. The value paid in auction for the
approximate quantity. proportionate value for the quantity falling short in a lot at
the time of delivery will be refunded to the buyer. Any quantity found excess in a
lot over the approximate quantity mentioned in the auction floor will have to be taken by
the buyer after depositing the proportionate amount along with the final
installment. In the event the materials are found in excess of the materials,
specified in the sale order, the buyer will be allowed to deposit the balance amount
within 10 days from the date of the incident of the removal as mentioned in the sale
order, failing which, the buyer shall deposit such balance value with ground rent at the
same rate mentioned in previous para per week or part thereof.
The goods shall be
and remain in every respect at the risk of the buyer from the date of acceptance of his
offer by the principal who shall have no liability whatsoever for the safe-custody or
Delivery Order or
Sale Order or Delivery-cum-Sale Order will be issued automatically on line at the
instance of any competent officer of MSTC or principal on confirmation of payment of full
material value as per clause 5.0 and subsequent sub-clauses. The full sale value
means payment of material value, duties & local taxes and any other levies under
the above mentioned clauses.
The goods are to be
completely removed by the buyer from the site of accumulation within the time specified in
the Delivery Order/Sale Order/Delivery-cum-Sale Order. However, the delivery will
be made during working hours on all working days on presentation of the aforesaid order to
the custodian of the materials of the principal concerned.
The buyer will make
his own arrangement for loading & transport and will not be entitled to claim any
facilities or assistance either for loading or for transport from the premises of the
owner of the materials except where it has been specifically mentioned in the Special
Terms & Conditions. The specified delivery period will be counted from the next day of
the date of issue of the order.
Should the original
buyer wish to take delivery of the stores purchased by him, through a representative, he
must authorise the lifter by a letter of authority, which the lifter should present to the
appropriate officer concerned/custodian of the stores of the principal. Delivery by
proxy will be at the buyer's sole responsibility and risk and no claim shall lie against
the principal or MSTC at any account whatsoever if delivery is affected on such proxy.
The buyers and his
authorised representative/s or person/s or agent/s engaged by them would be responsible
for processing, loading and transporting out only those materials, for which, delivery
advice has been issued. If any other material is found being
processed/loaded/transported it will be regarded as the mis-conduct/irregularities in
executing the sale order.
The buyer will
be held responsible for such acts of irregularities/mis-conduct of his own or committed by
his authorised representative or persons engaged by them for executing the sale order.
Any irregularities/mis-conduct may lead to forfeiture of earnest
money/security deposit, portion or whole money of material value as the case may be in
addition to cancellation of sale and or stoppage of further business and/or
appropriate legal action as may be deemed fit at the sole and absolute discretion of
Where the goods are
sold in lots and not in number or unit and in the event of the number or unit being found
deficient in quantity, quality, size, measurement and weight as indicated in the
catalogue/description of materials/details in the auction floor or any other documents,
the buyer shall have no claim against the principal or against MSTC for refund of whole or
any part of the purchasers money or for loss of profit, interest, damage or otherwise.
Where the stores are
sold by weight or number and not on the basis of lots and in the event of the buyer fails
to obtain delivery of the whole or portion of the stores sold he shall not be entitled to
claim any damage, loss of interest or compensation or any other account but shall be
entitled to proportionate refund of sale value.
The buyer shall not
be entitled to re-sale any item, lot or part of lot while the goods are still lying within
the premises of the principal and any such sale or assignment of the buyer's right to the
material sold in auction will not be recognised. All paper documents for releasing
materials will be made out in the name of the buyer only.
No interest will be
paid on the amount deposited by the buyer and subsequently found refundable under any of
the condition mentioned herein before.
TO TAKE DELIVERY AFTER PAYMENT
In the event of
non-removal of sold material after expiry of time allowed in the relevant order and
subsequent extension (s) thereof, if any, the principal/owner of the material
shall have the right to order re-sale of the said material as also to forfeit all monies
paid by the defaulting buyer in respect thereof. The principal/owner of the
stores may, however, in its discretion give the buyer further extension beyond the
time stipulated for taking delivery of the materials in exceptional circumstances and/or
relief against payment of further ground rent in part or in whole.
The buyer shall be
responsible for any damage that may be caused to the premises, equipments, machineries
and/or any other installations of the plant/establishment of the principal/owner of the
materials in taking away or removing the lot or lots purchased by him. The principal/owner
of the materials may at their own option arrange themselves to make good such damages and
the buyer shall have to bear the cost thereof on demand. The authority fully
reserves the right to recover the cost of such damages from any sum due to the buyer.
of the materials reserves the right to withdraw at any stage the sale of any item or
quantity of material either by number or by weight even after issue of sale order/delivery
order when the material are required for their internal use. The
principal/owner will not be bound to assign any other reason or details thereof
excepting internal use. Value of the materials so withdrawn, if any, and paid by the
buyer will be refunded. The principal will however, not be responsible for any
damage, loss direct or consequential compensation whatsoever to the buyer nor for payment
of any interest.
reserves the right/option to produce any or all such documents off line i.e. by
paper hard copy wherever such situation warrants, however, excepting the bidding
Neither the principal
nor MSTC will be held responsible for authorising any on line payment by any buyer/bidder
and subsequent loss or damage caused to that buyer or bidder for such authority.
The safe-custody of
gate pass, challans, authorising delivery or any such hard copy documents will be the sole
responsibility of the buyer once the same are made over to them. The principal
or MSTC will not be liable for any delay or damage for mis-placement of any such hard copy
document by the buyer.
So long the workers,
employees, agent or any representative of the buyer are required to work within the
premises of the principal/owner of the material, the relevant Labour Laws &
Rules, Factory Acts and Rules and any other statutory provision will be equally applicable
as in the case of workers and employees of the principal. It will be in their own
interest to know this provision before starting the job. It shall be
responsibility of the buyer to see that the statutory provisions are complied with and
they will be only and solely responsible in any manner for their employees, workers,
agents, representatives employed for the job.
In respect to forthcoming auctions, MSTC reserves the right to alter, postpond, modify, cancel any or all of the contents of the notification without any prior intimation to the prospective buyers.
AUTO CANCELLATION OF BUYER REGISTRATION
In case any Buyer fails to make the payment towards Registration
Fees to MSTC within 30 days from the date of his registration,
then the registration is automatically cancelled. He can, however,
re-register himself for the purpose of paying Registration Fees
and activate his account for participation in the forthcoming
If any account is deactivated for non-compliance of any Terms &
Conditions of the E-auction, then the registration fees for that
account will stand forfeited. In case the same party wants to
re-register himself, he shall be required to pay an amount as per the then prevaling schedule of re-activation fees at that particular point of time.
However, the acceptance of such re-registration fees shall be at
the sole & absolute discretion of MSTC.
The actual contract between MSTC & Buyer will be deemed to have been concluded only after the ink signed copy of Acceptance Letter/Sale Order has been issued.