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Metal Scrap Trading Corporation Limited

  • Opening Date

    22 Oct 2019

  • Closing Date

    22 Oct 2019

  • Tender Amount

    Refer document

  • EMD


  • Auction Start Date

    22 Oct 2019

  • Auction End Date

    22 Oct 2019

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Mstc/vad/bsnl,gmtd,valsad/8/204,new Tele. Exch. Bldg.halar Road,valsad/19-20/21640

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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, MSTC has come up with a unique business model to aid and augment financing needs of its bidders by leveraging the bidder surplus Bank Guarantee limit. Under this scheme MSTC will be making the payment to the seller on behalf of the bidder by opening LC/RTGS which will be backed by bidder 110% BG issued by any scheduled commercial Bank (for Rs. 50.00 Lakh and above per Lot). Complete details of the policy and contact officers are available at and at "" 1-ALL BIDDERS SHOULD INSPECT THE MATERIAL BEFORE BIDDING, NO QUERIES WILL BE ENTERTAINED AT LATER STAGE. CONTACT PERSON OF SELLER / STOCK-HOLDER: The materials offered for sale must be inspected as mentioned in the catalogue. For inspection & other related matters, bidders may contact the abovementioned representative on the abovementioned contact numbers. MSTC Ltd. (the Selling Agent of the PRINCIPAL) will be hereinafter referred to as MSTC. (Contact Person of MSTC Mr. T. N. Lama, Sr. Manager. : (0265) 2339672/2310606/2330726 extn-209). e-mail: PAYMENT TERMS : 1) The bidders shall submit Earnest Money Deposit(EMD) through NEFT/RTGS within 7 days of e-Auction/acceptance of STA bid by Seller for SOLD lot. Upon issue of the sale order the EMD will be converted into Security deposit and shall be adjusted in the final payment. Incase of non fulfilment of the contractual obligation, the security deposit will be liable to be forfeited by Seller/MSTC. 2) In case EMD has not been submitted within 7 days, the buyer has the option to submit full payment for the sold lots within 17 days (i.e. 7 days for EMD and 10 days for balance payment) counted as mentioned from the close of ea or STA approval date. In case only EMD payment is received after 7 days but before 17 days, Sale Order shall not be issued and the amount shall be withheld with MSTC till 17 days pending receipt of balance payment. In case balance payment is not received within the stipulated payment period, the EMD amount shall be refunded to the buyer and the buyers​ login will remained deactivated for a further period of 6 months as per rule. 3) Pre-Bid EMD amount shall be converted automatically to SD after issuance of AL/Sale Order in case it is greater than or equal to the EMD amount. In case no balance EMD is received within 7 days AL would not be issued. Payment can be received within 17 days counted as above, failing which MSTC shall not accept the payment with or without penalty and such amount received after 17 days shall be refunded to the buyer. The buyer​s Login shall remain deactivated for minimum period of 6 months and reactivation procedure shall be as per GTC / BSTC . In case of lots with Pre Bid EMD, the Pre Bid EMD shall be forwarded to the seller for forfeiture and the buyer​s login shall remain deactivated till confirmation of forfeiture by the Seller. 4) LATE PAYMENT PENALTY(ONLY FOR LOTS WHERE SALE ORDER HAS BEEN ISSUED): If the payment is not made within the free payment period mentioned in the Acceptance Letter/Sale Order, the payment may be accepted upto a period of 2 (two) weeks from the due date of payment, on payment of late payment penalty @ 1% (plus GST@18%) per week on the total sale value. Acceptance of payment beyond the late payment period of two weeks shall be at the sole discretion of Seller. Integrity Pact is applicable in respect of all Contracts/Agreements for Tenders/eAuctions etc. For details Check PRINCIPAL:- BHARAT SANCHAR NIGAM LTD., 204,NEW TELE.EXCH. BLDG.;O/o GMTD,HALAR ROAD,VALSAD,VALSAD-396001 (TEL: 02632254040-253542) Fax No.: 02632252000 IMPORTANT NOTE: NOTE : THE BUYER SUBMITTED P0/DD IN FAVOUR OF BSNL A) DD/PO DRAWN ON CO-OPERATIVE BANKS SHALL NOT BE ACCEPTED. NO ARRANGEMENT INSTRUMENT WHERE MORE THAN ONE BANK IS INVOLVED WILL BE ACCEPTED. B) GST rates as indicated

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