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Metal Scrap Trading Corporation Limited

  • Opening Date

    25 Oct 2019

  • Closing Date

    25 Oct 2019

  • Tender Amount

    Refer document

  • EMD

    -

  • Auction Start Date

    25 Oct 2019

  • Auction End Date

    25 Oct 2019

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Summary

Mstc/cdg/ad Dappar/13/dappar/19-20/21646

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Special Terms & Conditions Special note: Lot will be weighed on auth calibrated weigh bridge only Embargo on Export outside India .The material as described in E auction catalogue is/are not to be exported outside the territory of India. Bidder with valid GST registration number is allowed to participate in the E auction. 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, 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. MSTC has come up with a unique business model to aid and augment financing needs of its bidders by leveraging the bidder's 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's 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 "Link" Under Reverse Charge Mechanism, the Buyer bears the responsibility to submit the requisite GST mentioned in the Sale Order / Delivery Order to the relevant GST authorities and get GST Challan against the same. Buyer also needs to generate the GST Invoice to submit it to the Seller before taking Actual Delivery. Buyer has to file required GST Returns accordingly. Buyer shall make payment of only the Basic Material Value + TCS (if applicable) to MSTC for onward submission to Seller with D.O. Under Reverse Charge Mechanism it is the sole responsibility of the Seller to collect the following documents before allowing Delivery: a) True Copy of GST Registration Certificate of the Buyer. b) GST submission challan for the value of GST as shown liable in the Sale Order / Delivery Order. c) GST Invoice from the buyer showing proper description of material, rate, taxes, value, GST TIN of the buyer, properly sealed and signed by the buyer. All payments towards EMD /Security Deposit, balance material value, TCS, late payment penalty etc are to be made by way of e-payment through RTGS/NEFT in favour of MSTC Ltd. The buyers have to make payment by RTGS/NEFT from their own account only. No Third Party payment shall be accepted All the offers shall be valid for a period of 90 days from the date of closing of e-auction. In case the last date happens to fall on a Public Holiday, the next day shall be considered as the last date of validity. NOTE: 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. The buyer will not be required to deposit the EMD for those lots which fall under the category of STA. Only when the lot is approved by the Principal, will a mail be fired by our portal to the buyer to submit the requisite EMD within a period of 7 days from the date of approval. Buyers are requested to fill the auction, lot and other details carefully while generating chalan for e-payment to avoid any deactivation or further complications.MSTC will not be responsible for any wrong information. 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. In case of non fulfillment of the contractual obligation, the security deposit will be liable to be forfeited by Seller. 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 16 days [i.e. 7 days for EMD and 10 days (including last date of

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