| 1.0 INTERPRETATION |
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1.1 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 shall conduct event as their Selling Agent or Service Provider shall be referred to as the Principal.
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1.2 The General Terms & Conditions (hereinafter referred to as the GTC ) are common for all events and are in addition to Special Terms & Conditions( hereinafter referred to as the STC), if any, for any particular event and shall form an integral part of the event 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 event.
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| 1.3 If any bidder defaults in compliance of any Terms & Conditions of event, then the registration for that account will be deactivated. In case the same bidder wants to re-activate itself, it shall be required to pay a penalty to be decided by MSTC Management. However, the acceptance of such re-activation fees shall be at the sole and absolute discretion of MSTC.
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| 2.0 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. |
| 3.0 ARBITRATION |
| In the event of any dispute or difference relating to the interpretation termstxt2 application of the provisions of the contracts, such dispute or difference shall be referred by either party for Arbitration to a sole Arbitrator to be appointed mutually by the parties. In case parties fail to appoint the sole arbitrator within 30 days of the invocation of arbitration, the same will be appointed as per the provisions of the Arbitration and Conciliation Act, 1996 (as amended). The language of the arbitration shall be English. The place where the concerned office of MSTC conducting the auction event is situated shall be the venue of such arbitration proceedings. The cost of the arbitration proceeding will be borne equally by the parties to the arbitration. The Award of the arbitrator shall be final and binding on the parties.
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| 4.0 JURISDICTION OF THE COURT |
| Subject to the arbitration clause as above, Courts at the place where the concerned office of MSTC which is carrying out the event/auction is situated alone shall have exclusive jurisdiction in all matters arising out of or in connection with the event. |
| 5.0 EVENT |
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Event is defined as “forward auction/e-tender/e-tender-cum- auction/SMRA/Book building method/reverse auction or a combination of the above or any other method of bidding with a unique identity through MSTC e-commerce website”.
5.1 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 event (meeting the applicable minimum bid or reserve price 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 cannot be withdrawn. A bid once given cannot be retracted.
By bidding on an item you agree to be bound by the conditions of sale included in the item’s description (or linked to form the description) so long as those conditions of sale are not in violation of this Agreement or unlawful. Sellers may or may not specify the reserve prices of the items being auctioned. You are advised to independently assess the value of such items if you so desire by inspecting the material at the site. MSTC strongly advises you not to test the event 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. Willfully entering erroneous or fictitious bids may result in prosecution by MSTC.
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| 6.0 PRIORITY IN BIDDING |
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In Order to qualify and be identified as a successful bid, the following priority parameters will be as follows:
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Price: The higher price bids always supersedes the lower price bids. |
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Time: Between bids of the same price, the bid, which was placed prior in point of time, shall supersede. |
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In case two or more bidders bidding at the same price for a single event, the bidder who has received the email confirmation will be the successful bidder and beyond that there is no liability. MSTC’s 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. |
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| 7.0 FORCE MAJEURE |
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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, lockdown, quarantine, 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 written.
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| 8.0 MODE/ PROCEDURE OF REGISTRATION |
| 8.1 All intending bidders and buyers for participating in an event will have to register online. All intending bidders and buyers should fill in all the relevant details online and pay non-refundable registration fee online plus applicable tax/GST.
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| 8.2 On completion of details as per registration format, payment of registration fee and due verification, all such bidders will be able to access the event floor with the user id and password they have generated at the time of registration. Such bidders will henceforth be called as “Registered Bidders”. The documents required to be submitted for registration as mentioned in the website/interface provided for registration.
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| 9.0 AUCTION DETAILS |
| 9.1 None other than the registered bidders will have any access to the event floor.
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| 9.2 The event notification mentioning the starting date, list of materials, location of materials, and name of principal or owner will however, be available on our web-site for all site users. |
| 9.3 In respect to forthcoming events, MSTC reserves the right to alter, postpone, modify or cancel any or all of the contents of the notification without any prior intimation to the prospective buyers. |
| 9.4 The details of the event will be hyper-linked to the unique event number for each individual event. The registered bidder can login in the website www.mstcecommerce.com and view the details of event which will be as follows :- |
| a.) Opening and closing date and time |
| b.) Name and location [address] of the principal or owner of the material |
| c.) Brief description of the materials with its location and approximate quantity put up for sale. |
| d.) Period of inspection. |
| e.) Any other detail provided for the event. |
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| 10. BIDDING FLOOR |
| 10.1 After selecting the desired event, a bidder can arrive at the event floor containing list of items, quantity, location, unit of measurement and column for bidding. Each item name of the materials will be hyper-linked to details of the items. The following information will generally be available in the event floor:-
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| Opening date and time |
| Closing date and time |
| Lot number |
| Lot name: The lot name is a hyper-link which when clicked displays the details of the lots such as GST/Taxes applicable against the Lot, special terms of lifting etc. |
| Quantity and unit of measurement |
| Location of material/item |
| Last bid or floor price, if any |
| Your bid in Bidding Currency/Unit of Measurement (UOM) |
| Normally Bid history of the last 10 bids received against a lot in the event |
| 10.2 Unless otherwise specified in Special Terms and Conditions, the closing time of an event shall automatically be extended by predetermined interval specified for the event in the event catalogue/bid document/any other relevant document. Example: In case of auto extension of 8 minutes, 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 5-37 p.m. Similarly, if any bidder again bids at 5-36 p.m. then the closing time will automatically be extended to 5-44 p.m. and so on. |
| 13.0 PAYMENT FOR ACCEPTED BIDS |
| 13.1 All payments are to be made online through RTGS/NEFT/Net Banking etc. as per facility provided on the portal or specified in the catalogue/bid document. |
| 13.2 The bid value together with all taxes as applicable shall have to be paid by the successful bidder as stipulated in the relevant provision of special terms & conditions. |
| 13.3 Notwithstanding anything contained in catalogue/bid document the bidder will have option to make full payments in all respect within the period of 1st installment. |
| 13.4 The sale value including all taxes if not paid within the time limits stipulated in the catalogue/bid document, it may be paid within such time limit as may be extended by the principal or MSTC in consultation with principal, together with late payment charge. Such late payment shall be charged as per catalogue/bid document. |
| 13.5 The sale value, as well taxes, Excise duty plus any other levies as applicable and payable by buyer will have to be deposited with the authority as specifically mentioned in the relevant clauses of catalogue/bid document. |
| 13.6 In case of default in payment of SD, the user account of the registered bidder will be deactivated. The account can be reactivated as per the relevant policy of MSTC. |
| 13.7 In case of lots having pre bid EMD and the successful bidder defaults in submitting SD then the pre bid EMD shall stand forfeited. |
| 13.8 In case bidder deposits the SD and defaults in submitting the balance material value then the SD deposited by the bidder shall be forfeited and MSTC shall in addition to SD deposited, be entitled to recover any incidental/consequential loss suffered by it as a result of such failure. |
| 13.9 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. |
| 13.10 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 SD on confirmation of sale or as stipulated in the catalogue/bid document. The payment of balance sale value will have to be made as per the catalogue/bid document. The date of acceptance of bid will be the date on which the principal/MSTC sends the acceptance message to the buyer. |
| 16.0 DELIVERY |
| 16.1 Digitally Signed Delivery Order or Sale Order or Delivery-cum-Sale Order will be issued automatically online at the instance of any competent officer of MSTC or principal on confirmation of payment of full material value. The full sale value means payment of material value, duties & all taxes and any other levies as applicable. |
| 16.2 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. |
| 16.3 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. |
| 16.4 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 date of MSTC’s Delivery Order / Principal’s Release Order as stipulated in the STC. |
| 16.5 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. |
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For bidding in Hazardous Wastes items, the bidders have to submit valid documents from CPCB and/or SPCB in terms of the relevant and prevailing guidelines issued from time to time. |
| 16.6 The goods are sold on “As and Where They Lie” and 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 event 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. |
| 16.7 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 event 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 event floor within the quantity variation range of +/-20% (or as specified in the catalogue/bid document) will be offered to the buyer, at the discretion of the Seller, after depositing the proportionate amount with MSTC/Seller along with the final installment. In the event the material is found in excess of the quantity 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. |
| 16.8 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 treated as the mis-conduct/irregularities in executing the sale order. |
| 16.9 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 MSTC/Principal. |
| 16.10 The Service Provider/Agent i.e. MSTC Limited does not provide any assurance or warrant or guarantee to the bidder/ buyer with regard to the quality and/or quantity of the material/s of the Seller/ Principal to be sold through e-auction/s. The Service Provider/ Agent assume no responsibility or liability towards the quality, quantity, condition and the position of the material/s. |
| 16.11 Bidder/Buyer recognize that the role of MSTC in the auction process is limited to that of a Service Provider/Agent only and accordingly agrees not to make MSTC a party in any legal proceeding arising out of any dispute between Bidder/Buyer and the Seller/Principal. MSTC reserves the right to de-activate the user account, if MSTC is made a party to dispute regarding delivery of material, after giving due notice. |
| 16.12 The Buyer acknowledge and agrees that after the issuance of Delivery Order, as per the terms & conditions governing the e-auction, MSTC shall have no role thereafter and under no circumstances shall be held liable for any issue arising out of or related to the quality, quantity, condition, position or delivery of the material by the Seller/Principal. |
| 17.0 NON-DELIVERY/LIFTING |
| 17.1(a) 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 event 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. |
| 17.1(b) 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. |
| 17.2 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 event will not be recognised. All paper documents for releasing materials will be made out in the name of the buyer only. |
| 17.3 No interest will be paid on the amount deposited by the buyer and subsequently found refundable under any of the condition mentioned herein before. |
| 18.0 FAILURE TO TAKE DELIVERY AFTER PAYMENT |
| 18.1 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 relevant payments (as specified in GTC, BSTC & catalogue/bid document) 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 as defined in Auction catalogue. |
| 18.2 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 Principal/Owner fully reserves the right to recover the cost of such damages from any sum due to the buyer. |
| 18.3 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. |
| 18.4 The highest bidder does not get any right to demand acceptance of his offer. Seller reserves the right to accept/reject/cancel any bid, withdraw any item from the auction at any stage even after acceptance of bid/issue of delivery order/deposit of full value by successful bidder without assigning any reason thereof. In the event of such rejection/cancellation/withdrawal, seller shall refund the value of auction items, if paid for to the successful bidder. Seller shall not be responsible for any damage/loss whatsoever to the successful bidder on account of such withdrawal/cancellation. (revised on 24.02.2022). |
