Metal Scrap Trading Corporation Limited

Special Terms & Conditions "THOUGH A FACILITY IS PROVIDED TO BIDDERS TO SELECT A CATEGORY IN THE LIVE AUCTION FLOOR, HOWEVER,BUYERS,IN THEIR OWN INTEREST ARE ADVISED TO GO TO LIVE E AUCTION FLOOR, AFTER SELECTING "ALL CATEGORIES". MSTC WILL NOT BE RESPONSIBLE FOR ANY OVERSIGHT IN SELECTING THE CATEGORY IN LIVE E AUCTION/LOT ON THE PART OF BIDDERS/BUYERS" For inspection & other related matters, bidders may contact : Shri Alok Kumar Ph: 26515943/9999039321 All the payments pertaining to POSOCO Delhi needs to be credited in the under mentioned account no- Bank details of POSOCO BANK DETAILS: INDIAN BANK , MIA, KATWARIA SARAI, NEW DELHI-16, Account.No. 939528058 IFSC/RTGS CODE: IDIB000M089 All the payments pertaining to MSTC needs to be credited in the under mentioned account no. Name of the Bank - Bank of Baroda Branch Name- Asaf Ali Road, New Delhi-110002 RTGS/NEFT/IFSC CODE- BARB0ASAFAL (Fifth letter is zero) Account No.- 00930200000463 Name of the Company- MSTC Limited MICR Code of BOB- 110012009 After forwarding the payment through RTGS/NEFT, the customer is required to provide the UTR no. immediately to POSOCO & MSTC through mail, on the following mail id: and nishtha@mstcindia.co.in Please Note: Payment towards balance sale value should only be deposited by RTGS mode, and in no case payment through Demand Draft shall be accepted. Payment towards ED/ST/IT should also be deposited through RTGS only. Contact Person Details 1. MSTC Ltd: Mr Chirag Sindhu (Dy. Manager) 011- 23217850 (ext 230) IMPORTANT NOTES: a) PAYMENT CLAUSE: Incase the date of submission of payment happens to fall on a Public Holiday, the next day shall be considered as the date of submission of payment. b) BUYERS HAVE TO INSPECT THE MATERIAL THOROUGHLY AND SATISFY THEMSELVES ABOUT THE NATURE , HAZARDOUS/EXPLOSIVE PROPERTIES, IF ANY, BEFORE SUBMITTING THE BID. IN CASE THEY COME ACROSS ANY MATERIAL BEYOND THE SCOPE OF THE DESCRIPTION OF MATERIAL, IT SHOULD BE INFORMED TO SELLER/MSTC. MSTC WILL NOT BE RESPONSIBLE FOR ANY COMPLAINT IN THIS REGARD. SPECIAL TERMS & CONDITIONS OF E-AUCTION: 1. MSTC Ltd. Shall hereinafter be referred to as MSTC and POWER GRID CORPORATION OF INDIA LTD./POSOCO as owners. 2. All the offer shall be valid for a period of 90 days from the date of closing of e-auction. 3. The materials offered for sale must be inspected prior to due date of e-auction. 4. The bidders shall submit Earnest Money Deposit by online/Bank Draft in favour of POWERSYSTEM OPERATION CORPORATION LIMITED PAYABLE AT DELHI within 7 days of e-auction for accepted lots. For STA lots, the EMD must be submitted within 7 days of approval of the said lot(s). The EMD must be @10% of the net sale Value quoted (excluding taxes and duties) 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. 5. The Contract shall be treated as having been entered into as soon as the bid is confirmed in favour 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. The contract shall be deemed to be complete as soon as the Area is cleared of the entire material allotted or on completion of the period of contract as mentioned above, whichever is earlier. 6.0 All the materials are offered for sale on AS IS WHERE IS basis Ex works Owners, RATE MUST BE QUOTED ON UNIT BASIS FOR EACH LOT SEPARATELY NOT PART THEREOF i.e. in Rupees per unit only. The quantity indicated against the lot are purely indicative. 6.1 The quantity in actual may turn out to be more or less than the estimated quantity. In the event of quantity turning out to be more than the estimated quantity the buyer has to lift the allotted quantity(+/-20%).In the event of actual quantity turning out to be less than the estimated quantity, the buyer shall not be entitled to claim any damages,