Note: The above quantities are only indicative & as we are doing e-Auction on
pmt basis, no dispute would be entertained later on this account.
Instructions for the Participants: -
1. Bidders are requested to fill up the Registration Form Completely and attach the
same with EMD (Earnest Money Deposit) at the auctioneer’s/seller’s address
before the last date along with the self-attested copies of the required
documents.
2. Participation and bidding shall be treated as conclusive evidence of the fact that
the bidder has inspected the Auctioned Property and the documents pertaining to
it and is satisfied in all respects regarding quantity, quality, condition of the
Tender 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 eAuction including the amendments if any, prevailing at the time of e-Auction.
Seller or any entity associated with the salvage process will not entertain any
complaints or objections once event is completed.
3. 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 will
remain with us for 15 working days and he may be asked to honor the deal in
that time at his bid amount. 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.
4. EMD’s of other bidders will be returned in 7 working days after completion of the
bidding event. EMD will not attract any interest.
5. Bidders (H 1, H2 & H3) bid should be valid for 20 days.
6. 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 / tender property and about its “End Use” or fitness for a particular
purpose. Sale is on “AS IS WHERE BASIS” and “NO COMPLAINT BASIS”
7. 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/ cancellation/ 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.
8. Lifting will be carried out as per the instructions given by the Seller (like more
damage material will lift first). Materials must be removed (after making balance
payment 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.
9. Purchasers are requested to follow all safety rules applicable or given by the
seller at the time of lifting.
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10. 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.
11. In addition, EMD must be 10% of the total salvage value and EMD we asked
here is only the security money to participate. So highest bidder is requested to
complete the EMD i.e. 10% of his bided amount within 2 days of bidding event
failing which his bid may be treated as disqualified and then security deposit also
will stand forfeited.
12. 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.
13. 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.
14. All notices and communication shall be deemed to have received by a bidder if
posted or emailed to the address given in the tender.
15. The purchaser/tenderer/bidder shall in no case have any claim /dispute/rights
against the insurance company / surveyors or any other person and the entire
exercise of tendering /disposal, etc. is directly between the seller and the
tenderer/bidder/buyer.
16. Bidders have to complete the work and remove all salvage within 15 days from
the date of issue of the work 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.
17. This Sale shall be subject to the exclusive jurisdiction of Mumbai Courts only.
18. No blasting/control blasting would be allowed. Safety of work at site and labors,
tools & plants are responsibility of the bidder.
Note: 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.thesalvagebids.com.
Bids are invited on MT basis so weighment and quantification of all items may be
required as per the advice of Surveyors/Insurers.
Authority Stamp & Signature
Biding Instructions:-
1. All participants are requested to kindly make their selves registered on our
website i.e. www.thesalvagebids.com to participate in the bidding event
before/on last date of submission.
2. To get qualify for the e-Auction, kindly provide the dully filled e-Auction form
along with the required documents and EMD, login on our website and place bid
request for the subject salvage.
3. After getting clarification on your submitted documents and the EMD, we will
activate you for the e-Auction and you will be able to place bid.
4. During the bidding if anybody placed a successful bid in last one minute, the
ongoing bidding event will automatically increase by three minutes.
Terms & Conditions of the e-Auction:-
1. After the Result Declaration, successful bidder gets the sale order (if approved by
the seller in consultation with the insurers).
2. On receipt of the sale order, successful bidder shall submit the balance amount
other than EMD within 5 working days.
3. Successful bidder shall lift the complete salvage consignment within 15 working
days of depositing the complete payment.
Payment Terms: -
1. All charges incidental to loading and lifting of material such as loading, lifting,
transportation etc. will be borne by the purchaser.
2. Bids are Exclusive of taxes given as under:
Sr.
No.
Taxes % age
1 GST 18%
Liability of The Salvage Bids/Surveyor/Insurers: -
The Salvage Bids is an Auction Firm and we are just providing platform to the sellers to
sell their material. ‘The Salvage Bids/surveyor/Insurance company’ is not the actual
seller so takes no responsibility of whatsoever including quantity/quality/documentations
of the material on sale and hence will not be liable for any loss for 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 has nothing to do any further especially with
regards to quality, quantity, warranty, guarantees, delivery schedules, payments,
rejections, transportation, legal laws and regulations to be followed from time to time.
"Disclaimer of Risk and Waiver of Liability Relating to Coronavirus/COVID19
The novel coronavirus, COVID19, has been declared a worldwide pandemic by the
World Health Organization. COVID19 is extremely contagious and is believed to
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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.
Salvage Bids / Insurance Surveyor, presumes the seller must have put in place
preventative measures to reduce the spread of COVID19 towards salvaging of
affected materials on site; however, The Salvage bids / 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 Salvage bids / 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."
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