Old , Used & Unserviceable Items for E-Auction - Login - Metaljunction

(seven) days from the date of issue of acceptance letter/sale order by Mjunction
Services Limited.
11.3. Balance Payment: Buyers shall make balance payments to mjunction by way of
Online Transfer of Funds/eCMS, as mentioned below(Clause No.- 11.4) the
number of days for making the payment from the date of issue of acceptance
letter/sale order by mjunction Services Limited. On receipt of the full payment
including all taxes, 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, BCCL shall issue a Authorisation Letter to the bidder for collecting the
materials against the lot sold.
11.4. Payment in Instalment: Payment in installment can be done for lot with Material
Value above 10(ten) Lakhs. Period for making payment shall be as mentioned
hereunder from the date of issue of acceptance letter/sale order by mjunction :
a) Upto and including 10 lakhs— in 01(One) installment within 15 days.
b) Above 10 Lakhs and upto 25 lakhs--- in 02(two) installment within 40 days.
c) Above 25 Lakhs and upto 45 lakhs— in 03(three) installment within 65 days.
d) Above 45 Lakhs— in 04(four) installment within 90 days.
11.5. Normally, 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. Sales against ‘C’ Form/ CST will be allowed
for deliveries happening outside the state of Jharkhand.To avail CST concession
against the Buyer will have to submit C Form along with the final payment.
Incase Buyer is not able to submit C Form alongwith payment , then he will have
to deposit a security amount equal to the local sales Tax/VAT as per the
applicable rate along with the final payment. This amount will be refunded by
BCCL after submission of C Form to them for the current Financial Year.
11.6. TCS will be charged on all lots @1.133%(as applicable). This will be charged on
the total lot value inclusive of taxes & duties.
11.7. In case of default by the bidder in payment of the SD (10% of the Total Lot Value)
with in the stipulated schedule, the prebid 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 BCCL auctions for a period of 6 (six) months.
11.8. 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 or without
the additional charges after the expiry of the free payment time.
12. Refunds: All prebid EMD refunds of unsuccessful buyers will 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. Refunds of C form will be done in case there is no delivery of material( not in part
case delivery of materials),security deposit and short delivery will be handled by BCCL
directly. The contact details of concerned person is the Nodal Officer of scrap disposal-
BCCL.
13. BCCL shall be responsible for raising invoices as per the terms of the Delivery Order issued
by mjunction and BCCL’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.