STEEL AUTHORITY OF INDIA LIMITED - Metaljunction

14.5 The price bided should be on per MT basis, exclusive of Excise Duty, Sales Tax &Surcharge, TCS with Surcharge, Cess & other taxes, duties & levies etc. payableextra before issuance of Delivery Order. The Bidders should submit their bid(s) afterassessing & getting themselves thoroughly satisfied about the availability of thematerials as per OFA Document and it will be assumed that the Bid(s) have beensubmitted by the bidder after thorough inspection and getting themselves fullyacquainted and satisfied with the scope of the work, quantity (i.e. Nos. / MT etc.)and other related aspects of the work etc. Shortfall in quantity, if any, of the items ofthe Lot(s) as mentioned in Appendix-A, cannot be made up and no claim for thesame would be entertained afterwards. Excess quantity, if available may be deliveredas per related clause / condition of the OFA document. Amount for shortfallquantity, if any, will be refunded after completion of the lifting of all availablequantity, in due course as mentioned in clause 15.4 (d) above. Once the materialsare sold, no complain of any kind will be entertained in this regard by SAIL-ISP.Price(s) should be valid for a period of working 30 (thirty) days from the dateof Online Forward Auction for acceptance by SAIL-ISP. The price(s) once acceptedshall remain firm till completion of lifting by the SB (SB) within the validity periodof the contract.14.6The materials shall be sold to the first highest (H-1 bidder). In case H-1 backs outfrom accepting the order, his EMD will be forfeited. The sale order may be placed onH-2 at H-1 rate. In case the H-2 does not accept the offer, his EMD will be returnedand the order may be placed on H-3, at H-1 rate. In case, H-3 also does not accept theoffer at H-1 price the EMD submitted by him will be returned.15. EARNEST MONEY DEPOSIT: Bidders have to deposit Earnest Money (asMentioned in Annexure – II ), by Demand Draft / Pay Order/ Banker’s Chequedrawn in favour of “SAIL-IISCO Steel Plant” on a scheduled bank (Co-operativeBanks are not acceptable) and payable at BURNPUR /ASANSOL towards noninterestbearing Earnest Money Deposit (EMD). If EMD is not deposited accordingto the above specifications the application will be summarily rejected. The particularsof Earnest Money to be remitted by DD/ BC/PO may be noted from the OFAdocument (Annexure -B) in the space provided. EMDs of the bidders. ExceptingEMDs of H-1, H-2, H-3 bidders will be returned / refunded as it is after thecompletion of e-auction. The Service Provider will retain the respective EMDs of H-1, H-2 and H-3 Bidders till the acceptance of the H-1 bid and deposition of SecurityDeposit by them. In case the H-2 or H-3 does not accept the offer, the EMDs of H-2and H-3 bidders will be returned accordingly & simultaneously. However, theDD/BC/PO of the EMD of SB will be adjusted against Security Deposit, which shallnot carry any interest. In the event of failure on the part of the SB to make paymentfor security deposit within the dates specified in the Letter of Acceptance / letter ofIntent, The Management may at its discretion foreclose the OFA / contract and forfeitthe earnest money so deposited as the case may be without issuing any prior notice tothe SB. In case of any non-conformity / non-compliance by the SB of the clauses inthe OFA document or any other fault, management reserves the right to cancel thesale and forfeit the earnest money without issuing any prior notice to the SB.10