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Metal Scrap Trading Corporation Limited

  • Opening Date

    20 Aug 2019

  • Closing Date

    20 Aug 2019

  • Tender Amount

    Refer document

  • EMD

    -

  • Auction Start Date

    20 Aug 2019

  • Auction End Date

    20 Aug 2019

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Summary

Mstc/vad/iocl,, Sabarmati/5/sabarmati/19-20/14306

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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, All payments other than MSTC service charge have to be made directly to seller's bank account as given below. Bank Details Beneficiary Name : Indian Oil Corporation Limited A/c No : 31126829300 IFS Code : SBIN0002628 Bank Name : State Bank of India Branch : Ashram Road Ahmedabad 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. 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. Special Terms & Conditions 1 For all the lots, the successful bidder will have to lift the material on As is Where is Basis and No Complaint Basis. 2 The materials earmarked for disposal by Officer in-charge, are only to be uplifted by the bidder. Partial upliftment of the materials shall not be accepted. The bidder has to uplift all the materials earmarked for dispoal by Officer in-charge. 3 The job is inclusive of all dismantling, loading & transportation of materials at Bidder's own expenses. No additional payment shall be done from IOCL end. 4 The bidder needs to necessarily use JCB or Hydra or any heavy machinery equipment compulsorily at Bidders's own expense 5 All safety precautions need to be complied by the Bidder as per Statutory Rules & Regulations. No safety violation by the Bidder will be accepted. 6 All labour, lifting equipments, transport from site will be responsibility of party. Also cost of dismantling to be purely handled by successful bidder on e-auction. The dismantling to be carried o

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