Power Grid Corporation Of India 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, www.mstcindia.co.in - As per vigilance guideline this clause must be included on STC of all auctions, text after - must be removed. 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, www.mstcindia.co.in - "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 any query Please contact at MSTC,WRO Ms. Rupali Pandey, Assistant Manager email id: Board no. 022-, 22886268,022-22886261(Ext. 13) NOTE: 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. 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. SPECIAL TERMS & CONDITIONS OF E-AUCTION: 1. MSTC Ltd. Shall hereinafter be referred to as MSTC and POWER GRID CORPORATION OF INDIA LTD.,NAGPUR 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 in account of POWER GRID CORPORATION OF INDIA LTD- NAGPUR within 7 days of confirmation of bid whether on SOLD lot basis as per bank details below. The bidder must send an email confirming the EMD to PGCI/MSTC so that timely confirmation of same can be given/taken failing which PGCI/MSTC will not be responsible for deactivation of buyer id . 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.For STA lots date of EMD will be counted from the date of approval of the same. 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, loss of interest or compensation on this count. 7. Rate must be quoted exclusive of GST as applicable will be charged C form will be accepted toward GST for interstate sale. Any variation in applicable GST will be borne by the buyers. 8. Bidders shall submit his/their income tax clearance certificate (latest) partnership deed of org. as and when demanded by MSTC / Owners.