Metal Scrap Trading Corporation Limited

Special Terms & Conditions Buyer / Bidder will have to deposit the Material Value in the Bank Account of Seller / Principal or through DD favoring Seller / Principal and not in MSTC's Bank Account. Only Service Charge favoring MSTC will be deposited in MSTC's Bank Account. If Buyer / Bidder deposits the payment favoring the Seller / Principal in MSTC's Bank Account, it will be refunded back to Buyer's / Bidder's Bank Account. Bank Account Details of Principal/Seller(For Deposit of EMD, Balance Payment and GST Only): Bank Details Bank Name :STATE BANK OF INDIA Branch :GANGTOK A/c No : 31123754153 IFS Code :SBIN0000232 Service Charge payment should be made in MSTC Guwahati account. The payee should select GHY region from the dropdown. RTGS/NEFT Payment Link for payment in MSTC account is available in Buyer's Login - The parties opting for this mode may please note that the transactions made through this mode will be reflected in MSTC's account in T+1 days (Transaction + 1). Hence, they should make the payment well in advance so that it gets reflected in MSTC's account in time. Click here for e-Payment Guide: Here too, the Buyer is requested to inform the details of the payment through email so that there is no delay or confusion in the process of issuance of the Sale Order or Delivery Order. 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). Complete details of the policy and contact officers are available at " Contact Person at MSTC Limited: For System Settings contact MSTC helpdesk No: 033-22901004 Shri Prashant Chitranjan, BM, Ph.0361-2221199, E: pchitranjan@mstcindia.co.in Shri Neeraj Mathur, AM, Ph. 0361-2221199, E: nmathur@mstcindia.co.in Shri Raj Rohit Khalkho, AM, Ph.0361-2221199, E: rrkhalkho@mstcindia.co.in Shri Shubhajit Roy, AM, Ph.0361-2221199, E: sroy@mstcindia.co.in IMPORTANT NOTES: 1. PLEASE NOTE: THE AUCTION CATALOGUE ON THE LIVE E AUCTION FLOOR SHOULD BE TREATED AS FINAL AND BINDING. 2. 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 EAUCTION/LOT ON THE PART OF BIDDERS/BUYERS" 3. PAYMENT CLAUSE: In case the last 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. 4. DDs of Cooperative Bank shall not be accepted and will be returned without any action being taken on them. 5. 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. 6. THE BIDDERS SHALL SUBMIT EARNEST MONEY DEPOSIT BY 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 COND