Fire Affected MS/Steel/Iron - 12000Kgs

Participation Form

Interested buyers must pre-qualify themselves for participation in the above auction, by paying an EMD Amount of Rs. 75,000/- (INR Seventy Five Thousand only) by mode of RTGS to the following account along with this e Auction form duly filled & signed.

Name: Bid2win Private Limited

Bank: Axis Bank

A/c No. : 920020041516125

IFSC: UTIB0000360

Branch: Najafgarh, New Delhi (India) - 110043

Term & Condition of e-Auction:

Disposal of the above material is being sold on 'As Is Where Is’, ‘Whatever There Is’ and ‘No Complaint’ basis subject to the following condition:-

The rate for purchase of offered goods is to be submitted on total amount only” basis. All applicable duties, taxes and GST@18% are excluding.

The sale of offered goods is on Per Kg basis.

DYNAMIC TIME:

The eAuction shall automatically extend by 03 MINUTES in case someone enters a bid in the last one minute of the remaining time in closure of the auction. This shall continue indefinitely until no one bids in the last one minute of the time remaining.

The Purchaser (H1/H2) should remit 100% advance payment within 07working days of receipt of bank details/allotment order, from the insured/seller/auctioneer, failing which their EMD will be forfeited.

The Purchaser shall start lifting post to 100% advance payment, he shall be allowed to clear the lot awarded to him from the site within a period of 15 working days from the date of receipt of delivery order by him, failing which he have to pay ground rent for the salvageable quantity a per sellers T&C or minimum of Rs. 2,000/-day or Rs 1000/-Kg for space occupied by salvage material quantity.

The Auctioneer reserves the right to reject any bid without assigning any reason to the bidder.

The earnest money deposit will not attract any interest & dealt with as per the Procedure mentioned below:-

. In case of unsuccessful bidders, (H3 & Lower) EMD is refunded immediately after adjusting facilitation fee of Rs. 1000+ GST but not later than 7-10 working days from the completion of eAuction process subject to the terms and conditions mentioned herein and at the website.

• EMD of the H2 bidder shall be retained for 10 days from the date of approval of eAuction. If the H1 bidder failed to deposit payment within 3-5 days his EMD will be forfeited and H2 bidder has to honor the deal at the H2 bid value within the aforesaid period of 3 days. Failing to which his EMD too will be forfeited.

• The EMD of H1 will be adjusted once the complete payment is received by insured/seller and also complete material is lifted by the H1 bidder. Also adjustment will be done for fee and expenses.

• Since EMD is held by auctioneer. They are responsible for the return release as well. Surveyor, Insurer or Insured has no role of EMD forfeiting/retention for H3 & below. EMD of H1 & H2 is at the seller's description.

The material shall be sold on “AS IS WHERE IS’ and "AS IS WHAT IS" basis. No complaints whatsoever will be entertained after the bid is made. The bidder is deemed to have inspected, examined reasonably and satisfied himself as to all matters regarding condition, type, quality, and quantity.

The Bid2win Private Limited or the associated Loss Adjusters or Underwriters, being only the facilitators for disposal of salvage, have no knowledge about the specific trade requirements and shall bear no responsibility of any kind, in this regard of whatsoever nature.

The website www.bid2win.in is maintained by external agency at external servers. Any problem while bidding or technological glitches/problems may occur accidentally and such problems will be dealt in order to complete the entire process smoothly. The surveyor’s decision in this regard will be final as they have appointed us to bring transparency in the system by e-Auctioning.