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2. For sale value more than Rs 10 Lakhs but less than Rs 25 Lakhs within 40 days in two equal installments from the date of issue of Acceptance Letter. 3. For sale value more than Rs 25 Lakhs but less than Rs45 Lakhs within 65 days in three equal installments as per Acceptance Letter. 4. For sale value more than Rs 45 Lakhs within 90 days in 4 equal installments from the date of issue of Acceptance Letter. On receipt of the full payment, mjunction will issue a Delivery Order (DO) for the lot. Based on the Delivery order from mjunction and submission of the Vendor ID authenticated by mjunction and authorization (if required) submitted by the vendor, NCL shall issue an Authorisation Letter to the bidder for collecting the materials against the lot sold. These authorization will be issued by NCL for each DO separately. 12.3 All sales will be treated as local sale and the buyer shall have to pay VAT/Sales Tax as per the Local Sales Tax Act/ Rules/ Tariff of the concerned state where the materials are lying and this is to be deposited by the bidder with the stock holder of NCL before taking the delivery. 12.4 TCS will be charged on all lots @1%. This will be charged on the total lot value inclusive of taxes & duties. 12.5 In case of default by the bidder in payment of the SD (10% of the Total Lot Value) with in the stipulated schedule, the pre bid EMD held by mjunction on account of that bidder will be forfeited & the bidder will be liable to be debarred from the participation in all NCL auctions for a period of 6 (six) months. 12.6 In case of default in payment of the balance sale value with in the prescribed time limits, the due payment may be made together with additional charges @ 1% per week or part thereof calculated on the full 100% sale value for a minimum period of one week or multiple thereof. This extension will be limited to maximum period of 4(Four) weeks from the payment last date indicated in the Bid Acceptance Letter. However this shall not confer any right to the bidder to make any late payment of the balance sale value or applicable duties and Taxes. Mjunction reserves the right not to accept the payment of the balance sale value with or without the additional charges after the expiry of the free payment time. 13. Refunds: All prebid EMD refunds of unsuccessful buyers will be done by mjunction directly within 07(seven) days of the closure of the e-auction. The buyer needs to apply in his letterhead for the same. 14. NCL shall be responsible for raising invoices as per the terms of the Delivery Order issued by mjunction and NCL’s Authorisation for the same. Materials to be invoiced on the basis of the weight as recorded on weighbridge which should be treated as final. 15. The purchaser shall not be entitled to re-sell any lot or part of a lot while the goods are still lying within the premises of NCL and no delivery would be permitted by NCL to any person or persons other than the purchasers whose names are mentioned in the NCL authorization Letter. Subject to Acceptance (STA) lots: 11. Bid Validity: Bid validity of the STA lots will be 90 days from the date of intimation regarding status of the lots by mjunction. 12. Pre-Bid EMD: Refund will be made only after the result of STA lots is declared by NCL. 13. Security Deposit (SD): 10% of the sale Value of the lot (excluding all Taxes) within 07(Seven) days from the date of acceptance/approval of the lot. 14. All the other terms and conditions of the e-auction for STA lots will remain the same as those for the sold lots. 15. Pre-Bid EMD and the SD of unsuccessful bidder will be returned within 07(seven) days from the result of the STA lot. 16. Lifting Clause: 16.1 Items/materials for disposal will be disposed off (i.e. materials will be lifted by the party from NCL’s premises against full payment and within 45 days from the date of the Authorisation Letter issued by NCL, i.e. the order issued to any Firm/ Party to lift the materials, failing which the Authorisation Letter may be terminated by NCL and NCL shall entertain no claim, grievance or grudge on this account. However, NCL may, at its own sole discretion, extend the delivery period beyond the stipulated period to lift the materials on its own. Page 4 of 18
16.2 In case of any default in lifting of the materials by the buyer with in the prescribed/ scheduled delivery period, the outstanding material may be lifted from the expiry of the free/actual delivery period subject to payment of ground rent @ 1% per week and part thereof, by the buyer directly to the NCL for the period of delay. All matter relating to charging of ground rent will be decided by NCL. The Ground Rent will be deposited with the NCL concerned stockholder of the lot. 16.3 In case of good sold on lot basis, the Ground rent will be calculated on the value of the entire lot even if lifted in part, where as goods sold on unit weight or unit number basis, the ground rent will be calculated on the value of un-lifted quantity. 16.4 However it must be noted by the bidders that it will be the sole discretion of NCL not to allow the buyer to lift the goods with or without the ground rent after the expiry of the stipulated free delivery period and in such event, the sale of the material not lifted by the buyer will be automatically cancelled and all the money paid by the bidder will be automatically forfeited. 16.5 In the event of the buyers failure to fulfill any obligations under the general conditions of sale including default and/on failure on the part of the buyer to remove/lift the goods against any lots within the stipulated time after payment of the entire value, the sale of such cancelled lot for the quantities not lifted by the buyer, NCL will be entitled to re-sell the goods, at the entire risk and cost of the buyer as and when NCL may deem fit without any notice to the buyer and NCL shall be at full liberty to retain and/or adjust/or recover from buyers any other amount lying with mjunction/NCL to the buyers credit either under those contract or in any other contract or which may be at any time become payable /refundable to the buyer either under this contract or any other contract the amount of losses or damages or claim or expenses that may be incurred by NCL, if any, further amount is still found payable or recoverable from the buyer, the buyer shall pay to NCL on demand without any objection or demur. The decision of NCL in regard to the actual losses incurred by NCL including the reasonableness of the rate at which NCL may re-sell the quantities shall be final and binding on the buyer provided always, if any, loss is incurred by NCL, the buyer shall only be entitled to the refund of the amount retained by the mjunction/NCL by way of advance payment towards sale value (Excluding Earnest Money & Risk Money if any) without any interest thereon but not any other amount. Any gain on any re-sale as aforesaid shall, however, belong to NCL. In case the purchaser requires any service of facility from NCL for dismantling loading or removing the goods, NCL may without being under any obligation to provide the same. a. The necessary costs, charges and expenses for such service or facility as mentioned must be paid by the purchaser and for this purpose the purchaser must deposit with NCL such amount or amounts as may be required by NCL. All costs, charges and expenses for such service will be recovered from the amount so deposited and the surplus, if any, would be refunded to the purchaser. The amounts so deposited will not carry any interest. In case the amount deposited falls short of the charges payable under this clause, the purchaser shall immediately on requisition by NCL pay the additional amount. The bidders may be required to pay the necessary cost & expenses incurred in availing the services for dismantling and loading to NCL concerned stockholder for the lot/s. The materials sold shall be removed by the buyer from any one side of the lot as per the sole direction of the NCL and no segregation of items from the sold lots will be permitted. No pick and choose of the material will be allowed and the purchaser has to lift the entire lot from the designated place. Description against each lot given is not exhaustive. The description indicates the major content of the lot. bidder are requested to contact the respective areas' Staff Offices(MM)/Depot Officer of regional stores of the respective area(s)/Stock Holding Unit(s) for inspection of the lot(s) to assess the exact physical condition of the materials contained in each lot and satisfy themselves before submission of bid. b. In case of any hot work permission is required for dismantling operations; the same will have to be obtained by the buyers from the NCL authorized representative before lifting. It will be sole discretion of the NCL to allow or not to allow such hot-work permission at buyers cost only to the extent for facilitating the loading and transportation of the goods. c. For the purpose of removing the materials, the successful bidder shall employ only his/their own personnel and shall keep NCL fully indemnified against any claims for wage, injuries, compensation, death etc. d. While removing the materials, if any accident or damage to the property / life etc. arises by reason of any act of negligence / omission/ default or non-compliance with any of the Terms and Conditions of the statutory regulations or rules and regulations applicable within NCL premises, on the part of the bidder’s / his representative or employees resulting in death or injury to any person or damages to the property of NCL or Page 5 of 18
Page 1 and 2: OFA No. MJ/ NCL/ MM/SD/12-13/13 DAT
Page 3: 10. Sales Preference to Ancillaries
Page 7 and 8: 24. NCL/mjunction shall not be liab
Page 9 and 10: ANNEXURE -A GENERAL RULES AND REGUL
Page 11 and 12: LIABILITY OF “SERVICE PROVIDER”
Page 13 and 14: Start Time: Start time refers to th
Page 15 and 16: ANNEXURE D IMPORTANT NOTE FOR BIDDE
Page 17 and 18: LETTER OF AUTHORISATION (In Company

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