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Special Terms & Conditions ALL CONTRACTS/TRANSACTIONS ENTERED INTO BY THE BUYER/BIDDER ARISING OUT OF THIS E-AUCTION SHALL BE GOVERNED BY THE INTEGRITY PACT AVAILABLE ON OUR WEBSITE, - As per vigilance guideline this clause must be included on STC of all auctions, text after - must be removed. * The General Terms & Conditions (GTC) displayed on the e-Auction Website of MSTC alongwith the Special Terms & Conditions (STC) and Additional Terms & Conditions (ATC)shall be construed to be an integral part of the offer and the Bidder may like to download the same for their record.However, in case of any conflict between the GTC, STC and ATC, the ATC shall prevail. * The Special Terms & Conditions shall supersede relevant General and Buyer specific terms and conditions wherever applicable. * Contact Person at MSTC: Mr.Sushil Nale, Deputy Manager Phone No. : 022-22822789 Email id : *DD/POs of Cooperative Bank & arrangement instrument shall not be accepted and will be returned without any action being taken on them. *MSTC Ltd. Shall hereinafter be referred to as MSTC and MINERAL EXPLORATION CORPORATION LTD/DIST KORBA as owner/ seller. 1.0 All the offer shall be valid for a period of 90 days from the date of closing of e-auction. 2.0 The materials offered for sale must be inspected prior to due date of e-auction. For inspection & other related matters, bidders may contact : Shri Prabir Roy,DR BABASAHEB AMBEDKAR BHAVAN, ,SEMINARY HILLS, NAGPUR,440006,Maharashtra, TEL :07122510612 3.0Material list & STC displayed under "view forthcoming auctions" on MSTC's e-auction website are tentative and subject to change at the sole discretion of MSTC/Principal before the start of e-auction. Bidders should, therefore, download the material list and STC displayed only under "view live auctions" for their record purpose, if required, and bid accordingly. 4.0 The bidders shall submit Earnest Money Deposit by DD/PO in favor of MINERAL EXPLORATION CORPORATION LIMITED payable at NAGPUR within 7 days from date of e-auction for accepted and STA lots. The EMD shall be @10% of the net sale Value quoted (excluding taxes &duties) for Lots sold on 'Accepted' and 'STA'. Upon issue of the sale order the EMD shall automatically be converted into Security Deposit. The Security Deposit as specified in Sale Order shall be adjusted only at the time of final payment.It should be noted that failure to submit post bid EMD / SD within above stipulated time will result in automatic deactivation of buyer's login from MSTC System for a minimum period of six (06) months. Thus the bidders shall be debarred from participation in any auction being conducted by MSTC for a minimum period of six (6) months. Buyers login may however be activated only if full payment (Material Value + Applicable Taxes & Duties) is received within 22 days from the date of closing of e-auction. 5.0 E-auction lot Status/Result: The status of the highest bids having been accepted on Confirmed or STA basis must be personally seen by the Bidders online through the link "Auction Lot Status" immediately after closing of e-Auction which will be displayed up to 7 (Seven) days from the date of Closing of e-Auction (excluding the date of closing of e-Auction) and payment of Post-Bid EMD/SD must be made accordingly. Although immediately after closing of e-Auction, a system generated automatic Sale Intimation Letter will be issued by e-mail to the Highest Bidder for accepted/STA lots. The bidders must always keep their registered email account valid, failing which bidders will be liable for non-compliance of payment/delivery instructions if issued by MSTC/SELLER from time to time. 6.0 The Contract shall be treated as having been entered into upon issuance of signed sale order-cum-Acceptance letter by MSTC in favor of the successful bidders. The period of contract shall be of sixty days from the date of last Delivery order by MSTC against full payment made by the party

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