Metal Scrap Trading Corporation Limited

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, HPCL terms: 1. Disposal will be done as per Unit of Measurement mentioned against each item. 2. Successful bidder has to make necessary arrangement for cutting/dismantling of structure with all tools/tackles/Hydra/Tractor/Truck/Manpower etc. for completion of work. 3. The invoiced lot shall be loaded and invoiced on the same day. 4. All safety precautions as per the direction of HPCL Kandla Terminal Location incharge to be adhered by the vendor while uplifting the materials. 5. Total completion period for the entire job is 15 days from the date of Delivery Order from MSTC. 6. Vendors to arrange all safety precautions like Gum boots, safety shoe, helmets required for safe working. Vendor will have to adhere to all safety norms while carrying out the job. Necessary permits will be issued by HPCL. 7. Execution of jobs will be allowed during working hours only, i.e. (0830 - 1700)hrs except Sunday/Holiday with prior intimation. 8. Interested vendors can visit Kandla Terminal (site) for inspection before bidding. 9. All other conditions as per MSTC tender/ e-auction document. 10. Pre-bid EMD to be submitted to MSTC as per MSTC Policy. Payment Terms: All payments other than MSTC service charge have to be made directly to seller's bank account as given below. Bank Details: Beneficiary Name : HINDUSTAN PETROLEUM CORPORATION LTD. A/c No : 32607353053 IFS Code :SBIN0001948 Bank Name :State Bank of India Branch :Someshwar Complex Ahmedabad MSTC Service Charge has to be paid to MSTC Vadodara using "e-Payment" Link in Buyer Login vide NEFT / RTGS only. Any payment made other than mode mentioned above shall be refunded to the Buyer & they shall be have to resubmit payment as mentioned above. LPC applicable due to wrong payment mode shall be responsibility of the Buyer. 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 per