Regarding Old , Used & Unserviceable Items for E‐Auction

10. Statutory Documents: All sales tax, terminal tax, excise duty and all other taxes, duties (imposts) whetherto payable to the centralgovernment or to the state government or to the municipal, local or other authorities shall be deposited by the buyer with mjunctionalong with the sales value of the materials. Non-payment of any amount payable under this clause will have the same effect asnon-payment of the purchase money and will result in ipso-facto cancellation of the sale and forfeiture of the security deposit. If theliability of such tax (impost) and/or duty is in doubt, mjunction will have a right to call upon the buyer to make such provision asWCL may deem fit and proper to ensure the recovery of such taxes (impost) and/or duty. If the tax (impost) and/or duty is notrecovered at the time of delivery/despatch WCL/mjunction will have the right to call upon the buyer, to pay such amount as may bedue whenever the WCL/mjunction find that it has omitted to charge or WCL become liable to pay higher charge as a result ofdecisions or announcements by Government or any other competent authority, even though, the full value of the materials mayhave been already paid or delivery/despatches may have been completed from WCL’s units. WCL shall be free to call upon thebuyer to make good the amount short recovered whenever such contingency should arise, or WCL shall be entitled to recover theAmount of such tax (impost) or duty from the buyer by way of set off against any amount or amounts that might at any time becomepayable by WCL/mjunction to the purchaser on any account or accounts whatsoever. Taxes as applicable from time to time shall bepayable by the buyer.11. Payment Clause:11.1. The security deposit and the balance lot value are to be submitted lot wise only. Separate instrument needs tobe deposited for each lot. Each lot as indicated in the auction catalog will be treated as a separate unit for thepurpose of payment, lifting, refund etc.11.2. Payment of Security Deposit- 10% of the Total Lot Value to be submitted by way of Online Transfer ofFunds/eCMS with in 3 (three) days from the date of issue of acceptance letter/sale order by Mjunction ServicesLimited.11.3. Balance Payment: Buyers shall make balance payments to mjunction by way of Online Transfer of Funds/eCMSwith in 10 (ten) days from the date of issue of acceptance letter/sale order by Mjunction Services Limited. Thefunds will be transferred to WCL for issuance of Sales Release Order and subsequent delivery.11.4. The Prebid EMD of the successful bidders will be adjusted towards the final payment (materialValue) of the Lot/s.11.5. Normally, all sales will be treated as local sale and the buyer shall have to pay VAT/Sales Tax as per the LocalSales Tax Act/ Rules/ Tariff of the concerned state where the materials are lying and sales against ‘C’ Form/ CSTwill not be allowed. Buyer will have to pay the local sales Tax/VAT as per the applicable rate and norepresentation in this regard will be entertained by Mjunction Services Limited.11.6. In case of default by the bidder in payment of the SD (10% of the Total Lot Value) with in the stipulated schedule,the EMD held by mjunction on account of that bidder will be forfeited & the bidder will be liable to be debarredfrom the participation in all WCL auctions for a period of 3 (three) months.11.7. In case of default by the bidder in lot payment with in the stipulated schedule, the SD/EMD held bymjunction on account of that bidder will be forfeited & the bidder will be liable to be debarred from theparticipation in all WCL auctions for a period of 3 (three) months.11.8. In case of default in payment of the balance sale value with in the prescribed time limits, the due payment maybe made together with additional charges @ 1% per week or part thereof calculated on the full 100% sale valuefor a minimum period of one week or multiple thereof. . This extension will be limited to maximum period of4(Four) weeks from the payment last date indicated in the Bid Acceptance Letter. However this shall not conferany 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 chargesafter the expiry of the free payment time.12. WCL shall be responsible for raising invoices as per the terms of Release Order raised by mjunction. Materials to be invoiced onthe basis of the weight as recorded on weighbridge which should be treated as final.13. 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 WCL andno delivery would be permitted by WCL to any person or persons other than the purchasers whose names are mentioned in therelease order.14. Lifting Clause:14.1. Items/materials for disposal will be disposed off (i.e. materials will be lifted by the party from WCL’s premises against fullpayment and within 1 (one) month from the date of the Sale Release Order issued by WCL, i.e. the order issued to anyFirm/ Party to lift the materials, failing which the Sale Release Order shall be terminated by WCL and WCL shall entertainno claim, grievance or grudge on this account. However, WCL may, at its own sole discretion, extend the delivery periodbeyond the stipulated period to lift the materials on its own terms and conditions.14.2. In case of any default in lifting of the materials by the buyer with in the prescribed free time limit, the outstanding materialmay be lifted within 14 days from the due date subject to payment of ground rent @ 1% per week and part thereof, by thebuyer directly to the WCL for the period of delay. All matter relating to charging of ground rent will be decided by WCL.14.3. 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-liftedquantity.14.4. However it must be noted by the bidders that it will be the sole discretion of WCL not to allow the buyer to lift the goodswith or without the ground rent after the expiry of the stipulated free delivery period or even within the aforesaid additionalperiod of 14 days and in such event, the sale of the material not lifted by the buyer will be automatically cancelled and allthe money paid by the bidder will be automatically forfeited.