Global E-Auction

1.1 General terms and conditions of E-Auction

1.1.1 Subject to the reserve price, if any, fixed by the seller and subject to the terms and conditions set out herein, sale shall be made to the highest bidder on “AS IS WHERE IS BASIS” and “NO COMPLAINT BASIS”. The seller does not undertake any responsibility to procure any permission/license etc. in respect of the E-Auction property offered for sale.

1.1.2 Seller reserves the right to modify and amend the terms & conditions and announce the same at any time before the entire E-Auction concludes. Announcements during the E-Auction in the E-Auction room on the website and changes made in the catalogue including start price, bid increment/decrement, extension of time for lots where received bids/no bids are received, and any other additional conditions or correction in the catalogue and/or additions or deletions of items being offered for sale are being done with the consent and knowledge of the seller, and it is binding on the bidder. Bidders are advised in their own interest not to leave the E-Auction room till the entire E-Auction is closed.

1.1.3 Participation and bidding in this E-Auction shall be treated as conclusive evidence of the fact that the bidder has inspected the E-Auction property and the documents pertaining to it and is satisfied in all respects regarding quantity, quality, condition of the E-Auction 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/service provider will not entertain any complaints or objections once bid is placed.

1.1.4 Seller/service provider does not give any warranty or guarantee of the quality, quantity, measurement, condition, chemical composition of each individual item/s or lot/s that form the E-Auction property and about its “End Use” or fitness for a particular purpose.

1.1.5 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 portion of the E-Auction property at any stage from E-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 such rejection/cancellation/withdrawal, the Seller shall refund the value of E-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.

1.1.6 EMD amount will not carry any interest.

1.1.7 In the event of failure on the part of the successful bidder to fulfil his contractual obligations, seller/service provider reserves the right to debar such bidder from participating in any future E-Auctions conducted by service provider on behalf of seller.

1.2 Disclaimer from service provider

1.2.1 Service provider runs its business on the basis of a robust website. However, service provider has outsourced website hosting to a third-party hosting company to ensure the smooth running in all good faith and intention. However, service provider will not be held responsible for any failure of power, network, server, hosting server, internet connectivity, ISP or otherwise at bidder’s end or at service provider directly or indirectly affecting online method of bidding.

1.2.2 Service provider takes no responsibility of the quality, quantity, documentation details of buyers/sellers. Both the buyers & sellers agree to defend, indemnify and hold service provider harmless from any loss, damage, cost and expenses caused by any reason during this transaction. In no event shall service provider be liable for any loss for the transacts by business, revenues, profit, costs direct and incidental, consequential or punitive damages of any claim. Both the parties agree to have discussed all the related matter regarding this transaction and have understood in full that service provider has provided a source of supply and has nothing to do any further especially with regards to quality, warranty, guarantees, delivery schedules, payments, rejections, transportation, legal laws and regulations to be followed from time to time etc. Since service provider does not possess knowledge base of the commodities under transaction, both parties agree that the matter contained in the materials as a part or as a whole does not violate any applicable law. Service provider is only an E-Commerce service provider, and is not and cannot be a party to or control in any manner any transactions between the seller and bidder. Service provider shall neither be responsible nor liable to mediate or resolve any disputes or disagreements between the seller and the bidder.

1.2.3 Seller/Bidder agrees to limit the liability of service provider to them for any and all claims, losses, costs, damages of any nature whatsoever or claims expenses from any cause or causes, including attorneys’ fees and costs, so that the total aggregate liability of service provider to the seller/bidder shall not exceed its total fee receivable from the seller/bidder. It is intended that this limitation applies to any and all liability or cause of action however alleged or arising, unless otherwise prohibited by law.

1.3 Requirements from bidders for participation

1.3.1 (Client Name) reserves right of participation in online E-Auction.

1.3.2 Bidder/Seller may note that any payments made by Demand Draft or cheque or any other means towards EMD/security deposit or other purposes received by service provider on behalf of seller/bidder shall be handled in good faith and intention. However, service provider shall not be responsible for the loss of DD/Cheque from its custody due to reasons beyond its control such as fire, theft, burglary, loss in transit, accident, war, riots, civil commotion, any terrorist activity, any natural calamity, adverse weather and climatic conditions etc.

1.3.3 Bidders must mention PAN No. on Acceptance Form, failing which the bid can’t be accepted.

1.3.4 The prospective bidders have to register with the service provider by submitting the membership registration form duly filled and signed along with self-attested copies of their PAN Card, and address proof. The membership registration form along with the prescribed documents shall be submitted to service provider. The prospective bidders, who have submitted the membership registration form along with the prescribed documents to service provider once, need not submit the same again. The prospective bidders after completing the registration process as above shall have to deposit Earnest Money Deposit (EMD) for each lot separately or for all lots as prescribed. (Refer Details of Auction Property for Lot-wise EMD) by Demand Draft/Pay Order on any Scheduled/ Nationalized Bank/Scheduled Co-operative Banks (as prescribed by the seller) drawn in favor of “Client Name”. It has to be submitted directly to any office of service provider (see details of service provider’s offices in website name). Cash will not be accepted.

1.3.5 On completion of the registration process and payment of prescribed EMD as outlined in 2.4 above, seller/service provider will activate the User Identity to enter into Website Name.

1.3.6 Bidders should not disclose their password to anyone and safeguard its secrecy. Bidders are advised to change the password after set intervals to maintain its integrity.

1.4 Conditions applicable to online E-Auction method of bidding

1.4.1 Validity The online E-Auction bidders must keep their bids valid for a period of 30 calendar days from the date of closing of E-Auction excluding the date of closing. In case the 30th day falls on a holiday or remains closed for the seller, such bids will be deemed to be automatically extended to be valid up to the next working day of the seller.

1.4.2 Time Extension If any market-leading bid (bid higher than the highest at the point in time) is received within the last 3 minutes, closing time will be extended automatically by 3 minutes.

1.4.3 Training Service provider will provide training (online) if required by the bidders at a mutually convenient date and time before the E-Auction.

1.4.4 Bids All bids placed are legally valid bids and are to be considered as bids from the bidder himself. Once the bid is placed, the bidders cannot reduce or withdraw the bid for whatever reason. If done so, the seller will forfeit the EMD. The highest and the latest bid on the E-Auction shall supersede all the previous bids of the bidder. Bidders may please note that in the event of a manual bid amount matching that of an auto bid, the manual bid will prevail and be considered. The bidder with the highest offer/bid does not get any right to demand acceptance of his bid.

1.5 Contract validity

The contract is valid 30 days from the date of online E-Auction.

1.6 Mode of payment by bidders

1.6.1 All payments shall be made by RTGS or in the form of Demand Draft/ Pay order issued by any Scheduled/Nationalized Bank/Scheduled Co-operative Banks in favor of “Client Name”

1.6.2 In case of a failure to do so, it will be assumed that the buyer is not interested in the purchase and EMD will stand forfeited.

1.7 Applicable Taxes, duties & levies and charges on E-Auction rates

1.7.1 Bids placed/Rates offered are for the basic price only and are exclusive of all applicable taxes. Taxes will be in addition to the basic price and will be added at rates applicable at the time of delivery.

1.7.2 All applicable taxes, duties on sale shall be borne by and paid by the buyer.

1.7.3 If the buyer claims any exemption/concession under any State Sales Tax Act or under the Central Sales Tax Act or any other enactment, such buyer shall be required to furnish their registration number and/or declaration in appropriate forms before lifting of material.

1.7.4 Income tax as applicable/shall be deducted at source. Party may submit self-declaration form or “NIL” tax certificate from IT department for exemption.

1.8 Description of materials, quality and quantity

1.8.1 Numbers, quantities or tonnage or natures of materials given in the catalogue are approximate and the materials will be sold without any regard or consideration of these numbers/tonnage or nature of materials and no warranty or guarantee shall be implied.

1.8.2 The quantity indicated in the list is only an estimate for calculating amount of deposits required to be paid by the bidder and has nothing to do with the quantity of material that may be available. The quantity of material may vary considerably. However, since the paramount interest of the company is to get the area cleared, the successful bidder will have to remove the entire quantity whether these are far beyond the limit of approximation indicated or much less than the approximation indicated within prescribed time.

1.8.3 The description given in the enclosed list is in brief. Offers by the bidders will be deemed to have been made on the understanding that intending bidders have satisfied themselves fully in regards to the nature, condition, quality of goods upon an inspection or otherwise. No error, omission or misstatement or mis-description whatsoever and howsoever made or published whether in advertisement or list or otherwise and no defects or faults in the goods shall invalidate the contract or be subject matter of any claim on the part of the bidder whether in compensation or otherwise nor will any such claim be entertained by the seller.

1.8.4 The seller shall be under no obligation to put the lots singly or serially or in any other particular manner and the seller reserves the right at its discretion to withdraw any lot at any time during the E-Auction without assigning any reason thereof. The seller may refuse to accept any bid from any person/ persons without assigning any reason for such refusal.

1.8.5 If any other metal is found in the lot while effecting delivery, the same shall be treated as the seller’s property. The successful bidder shall not lift from the lots any such pieces and shall have no claim to the same or ask for any compensation on account thereof. For more details please read the mode of dispatches carefully.

1.9 Conditions of lifting and delivery of materials

1.9.1 On receipt of full sale value along with applicable GST & other charges by the seller, the seller will issue final sale/delivery/release order to the buyer thereby enabling him to lift the materials within lifting period mentioned in the catalogue.

1.9.2 Lifting of materials will be allowed only between 9:00 A.M. and4:00 P.M. on all working days. Successful bidders should ensure that the material clearance is as per the seller’s instructions. Neat and clean maintenance of the stockyard from where the material is lifted is the responsibility of the successful bidder. In the event of non-adherence to the above by the successful bidder, seller will reserve its right to impose penalties/forfeiture of EMD and other payments collected. Weight recorded at the seller’s premises shall prevail.

1.9.3 In case the seller is unable to deliver the goods within the specified time due to unforeseen administrative reasons, the seller shall grant suitable extension of delivery period to the buyer without any penalties till the expiry of such extended period. In such eventuality, however, the buyer shall not be entitled to claim any compensation for such delay.

1.9.4 If the goods sold or portion thereof remain un-cleared in the premises of the seller beyond the stipulated period, the un-lifted portion of the assets may be removed at the risk and cost of the buyer.

1.9.5 While taking delivery of the material, it will be at the discretion of the seller or its authorized representative to direct the manner/order in which the materials or lots shall be removed. No segregation of the items of any lot is allowed inside the seller’s premises.

1.9.6 Breaking/cutting may be allowed to the extent necessary for facilitating loading on to the vehicles as per the discretion of the seller. No gas cutting equipment or any equipment, which are likely to cause damage, will be allowed in the premises. Only safe oxy-acetylene gas cutting equipment will be allowed with permission of seller. The decision of the seller or his authorized representative shall be final in this regard.

1.9.7 The buyer shall arrange for all tools and tackles, forklifts and hoists or cranes or labour at their own expense.

1.9.8 It will be successful purchaser’s responsibility to weigh the empty truck at the weighbridge and produce the weight certificate so that the weight of the empty truck will be deducted from the weight of the fully loaded truck.

1.9.9 Should the original purchaser wish to take delivery of the surplus material through a representative, he must authorize the latter by a letter of authority or continuing authority, which shall be presented to the seller. The seller may in his entire discretion decline to act on any such authority and it shall be for the purchaser to satisfy the seller that the authority is genuine. Delivery to such authorized person will constitute valid delivery and no claim shall lie against the seller on any account thereafter.

1.9.10 Once the goods/materials are taken out of the factory gate, purchaser will be solely responsible for all sorts of claims like shortage, missing parts, damage, incident, accident, loss of material etc.

1.9.11 Resale will not be recognized. The purchaser shall not be entitled to resell any lot or part of a lot while goods are still lying within the premises of the seller and no delivery would be effected by the seller to any person other than the purchaser whose names are mentioned in the sale order/delivery order.

1.9.12 Purchaser and his men are subject to the security rules of seller in force while in the seller’s premises. The purchaser/s, their workmen, agents or representatives shall not commit any nuisance, theft or indulge in any antisocial activities in the seller’s premises and the purchaser shall be liable for the good conduct, safety & discipline of his workmen. In case of any such activity, delivery will be suspended and strict action as per law will be taken including forfeiture of EMD.

1.9.13 While taking delivery of the material, the purchasers shall be responsible for any damage that may be done to premises/fittings of the seller in the course of removing the lot or lots purchased by them. The seller may at its option arrange to make good such damages and the purchaser shall pay for the same on demand. If such payment is not made on Demand, the seller may forfeit the EMD/security deposit or may stop delivery of the material till payment is made.

1.10 Actual bidding in E-Auction

The E-Auction computer screen appears in front of the bidders who have logged in to their respective computers with a bidding window. Bidders see the screen and start bidding as per their choice. Of course, the screen design may be different from one service provider to others. Normally the bidder sees his bid amount and most of the times his rank with reference to other bidders. Based on the increment or decrement as per minimum bid increment or decrement respectively for sale & purchases, bidders go for bidding till the final values are achieved or the E-Auction time elapses. The last values are H1 values or L1 values which are captured by the computers and E-Auction ends with a message and bidders logout.

1.11 E-Auction activities undertaken by Service Provider for client

Conducting E-Auction on specific date and time.
Generating online E-Auction report and bid sequence.
Submission of bid sequence and E-Auction report to the client with H1 to H4.
Co-ordinating with client and service provider in case of any issue.

1.12 Required post bid documents for clients

Service provider (SP) is responsible to hold the E-Auction successfully for client and submit the E-Auction report to him as soon as E-Auction is over. Different clients need and specify the report in different formats which SP need to prepare and meets the requirements. Sometimes it is difficult to meet the frequent changes in the report formats as demanded by clients. However, following are the common E-Auction reports which SP shall prepare and send to client:

A. Bid history report

This is a computer generated document, which is an online report that presents each bidder’s record, bid by bid, for each lot with bid amount. This is one of the most important documents as a record for various purposes and shall be provided to the client.

B. Bid history graph

This depicts the descending/ascending relationship of participant’s bids. The names of bidders are reflected in the report. This document shall be generated/ copied and kept in record for further reference.

C. Summary of lowest/highest bids reflecting the participant’s low bids by time of bid to be maintained

The bid history report, bid history graph and lowest bid summary are important documents for contract file. These shall be generated from E-Auction data record.

1.13 Conducting E-Auction for Logistics:

Conducting RA for transportation is very special as there is too much variance with reference to requirements of trucks/trailers, locations, type of materials and duration of validity of transportation contracts. Considering this, details relating to transportation/logistics E-Auction shall cover the following and for which it is essential that the client shall give the details:

1.13.1 Client shall furnish the following information to Global E-Auction:

Tentative load of transportation per month/year in terms of type of trucks/trailer.
All Destinations from the places for full truck load and part truck movements.
Client’s terms and conditions for logistics which.
Details of existing service providers/transporters.
Existing rates.
Contact details of the person who will co-ordinate with transporters.

1.13.2 Transport and logistics E-Auction, as required by the client shall be conducted covering the following areas:

Factory to warehouse.
Warehouse to Distribution Centres.
Warehouse to multiple locations across the country
Specialize transport for bulk cargo and heavy lifts.
Cab, Van and Bus services for safe prompt conveyance.
Best logistics solution for procured goods and raw materials.
360° solutions for company’s entire logistics requirements.
For import and export movements.

1.13.3 Following Logistics contracts shall be finalized based on the E-Auctions on the requirement of the client:

Inwards movements
Outwards movements
Import movements
Export movements
Custom clearance
Solutions for company’s entire logistic requirement.

“The participation in the E-Auction by any bidder confirms the acceptance of all above terms and conditions and complete adherence to the same contractually and legally. Additional Terms and Conditions from a Client for an event will, as and when required, also form part of this acceptance.”

1.14 Governing Law and Jurisdiction

Any disputes with Global E-Auction are resolved in the manner as prescribed herein below Arbitration, Governing Law & Jurisdiction.

1.14.1 Arbitration

Dispute or differences arising out or relating to this Undertaking /Agreement shall be resolved amicably by the parties. Failing such amicable resolution of dispute / differences either party may refer the matter to arbitration of a Sole Arbitrator to be appointed by the Managing Director of Global E-Auction Services Limited. The Arbitration proceedings shall be governed and regulated by the provisions of Indian Arbitration and Conciliation Act, 1996 and the rules framed there under along with amendment made thereto up-to-date. The award of the Arbitrator shall be final, binding and conclusive on the parties. The venue for arbitration shall be at Delhi.

1.14.2 Governing Law

This Agreement is construed and shall be governed in accordance with the laws of India without giving effect to any principle of conflict of law.

1.14.3 Jurisdiction

The Courts at Delhi shall have exclusive jurisdiction.