Metal Scrap Trading Corporation Limited

Special Terms & Conditions Contact Person at MSTC, Mr. Dibyendu Paul , Phone No: 9831992269 Email id: dpaul@mstcindia.co.in GST rates as indicated in this e-auction catalogue are only indicative. Actual GST rates as applicable on the date of lifting shall be applicable. Bidders are required to satisfy themselves about GST rate through their own sources/means before bidding in this e-auction and any discrepancy should be intimated to MSTC / Seller at least one working day prior to the e-auction. No complaint from any bidder thereafter, regarding any variation will be entertained after the e-auction goes on live floor. Nonpayment of sale proceeds on the ground of any discrepancy of GST rate will be treated as default and action as deemed fit including but not limited to forfeiture of EMD/SD will be taken against the bidder. Draft / PO issued by Co-operative banks will not be accepted. Arrangement instruments (where more than one bank is involved) shall not be accepted and shall be returned without any action being taken on them. MSTC Ltd. Shall hereinafter be referred to as MSTC and Mail Motor Service/Pune as owner/seller for lots. 1.All the offers shall be valid for a period of 90 days from the date of closing of e- auction. 2. The materials offered for sale must be inspected prior to due date of e-auction. For inspection & other related matters, bidders may contact Shri Shivaji Chavan, Store keeper, MMS Pune Mail: mmspune411001@gmail.com 3.Material 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. The bidders shall submit Earnest Money Deposit by DD/PO/NEFT/RTGS in favor of Principal as stated in Sale Intimation Letter 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. 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. 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. The contract shall be deemed to be complete as soon as the Area is cleared of the en