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 e-Auction including the amendments if any, prevailing at the time of e-Auction. Seller 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 after the receipt of all the documents related to the subject salvage material by the buyer. EMD of second highest bidder & third highest bidder will remain with us for 20 working days and they may be asked to honor the deal in that time at his bid amount. 4. H1, Highest bidder will be allotted only 7 days to deposit the payment after issuing the delivery order and If First highest bidder failed to do so, then H1’s EMD will stands forfeited and H2, second highest bidder will be asked to honor the deal and H2 will be allotted 7 days to deposit the payment after our confirmation. In this scenario all the conditions will remain same and after 7 days h2’s EMD will also stands forfeited and we move to third highest bidder. All top three buyers/bidders are legally bound with the forfeiture clause and have to respect that. Allotted time periods are much focused and there may be or may not be any reminders will be given to the allotted bidder regarding payment. At the time of failure or any breach in contract, we will send only forfeiture confirmation to the respective buyer and handover the subject material to another bidder. Any bidder, who failed to respect the terms and conditions of the eAuction cannot claim or challenge any of Surveyor/Insured/Insurer’s/e-Auctioneer legally. EMD’s of rest of the 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 working days of e bidding event. 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 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 the all safety rules given by the seller at the time of lifting. 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.
Authority Stamp & Signature
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 Lot basis so quantification of all items will be required as per the advice of Surveyor/Insurer’s.
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 at least 25% amount other than EMD within 3 working days. 3. Successful bidder shall lift the complete salvage consignment within 5 working days of depositing the payment in advance.
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 Inclusive of taxes.
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.
