| (1) |
Only those customers registered with www.mstcecommerce.com as a buyer of coal shall be eligible to participate in e-Auction of coal.
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| (2) |
The e-Auction shall be open for a period of TWO hours only. |
| (3) |
The rate of EMD is Rs.500/- per tonne for coal of GCV more than 4300 Kcal , and Rs.400/- per tonne for coal of GCV of 4300 Kcal and below for Coal India Limited and its subsidiary companies and also for Singareni Collieries Company Limited. |
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EMD may be deposited by way of Demand Draft drawn in favour of 'MSTC LIMITED EMD COAL - Name of the bidder' payable at Kolkata and should be accompanied with a Bank Debit Advice |
| (4) |
Minimum Bid quantity through road mode will be 50 MT and for rail mode it will be 1 Rake or as specified by respective coal companies. |
| (5) |
A bidder can bid for any quantity, up to the offered quantity from any particular source for auction provided he has submitted requisite EMD. There is no restriction on maximum quantity that one can bid.
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| (6) |
For a given source, a customer can increase his bid any no. of times. |
| (7) |
The bidding will start from Reserve Price specified against each source. The bidder will have to quote a price equal to or higher than the Reserve Price or that source to secure consideration in the concerned e-auction. |
| (8) |
Prior to scheduled start time of an auction, the auction catalogue will be available under the link 'Forthcoming Auction' |
| (9) |
If any bid is received during the last 5 minutes before scheduled close of auction for any source, its close time will get automatically extended by 5 minutes from the time of last bid in order to give all the bidders equal chance to revise their bid.
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| (10) |
Bidding will close for a particular source either at the scheduled close time or till there will be period of 5 minutes in which no bid is recorded for the source, whichever happens later. |
| (11) |
Coal will be allotted to the H-1 Bidder on the basis of rate, quantity quoted and time of bid in order of preference |
| (12) |
The customers will be intimated about the allotment of coal through Sale Intimation Letter after the completion of e-auction. A copy of the same will also be available under e-Auction Status on their Home page. However, it will be the responsibility of the bidder to check his status in an auction. |
| (13) |
All customers already registered with MSTC Limited, as coal buyer will be eligible for participating in the e-Auction process. |
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For any further query or assistance regarding e-Auction contact any of us at the following telephone numbers: |
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