STEEL AUTHORITY OF INDIA LIMITED - Metaljunction

4. Customers intending to participate in the forward auction would be required to submit the OnlineForward Auction Notice, Letter of Interest, copy of the SAIL FA-1 (General Terms & Conditions ofsale from Plants / Units / of SAIL for sale through Online Auction / Forward Auction (FA)”, “GeneralRules & Regulations governing conduct of Online Forward Auction”, “Special Terms & Conditions”,and “Definition of Key Terms”, all Annexure, Appendix, Corrigendum, Addendums, documentsas given in Clause 14 of Annexure - I etc. duly signed and stamped as a token of bidders acceptanceof the same in toto to service provider. The service provider will provide a user ID and a pass word toeach such individual customer.The customer shall be required to deposit non interest bearing EMD of Rs. (See Annexure - II forthe Lot wise EMDs) by way of Demand Draft / Pay Order / Bankers Cheque obtained from aNationalised / Scheduled Bank and Drawn in favour of The SAIL-IISCO Steel Plant and payableat, Burnpur / Asansol to participate in the online forward auction process to the service provider.5. .For Idle Asset cases all customers will be temporary customers who have to deposit the EMD foreach case in each FA separately. Temporary customers will be defined as those who submit the EMDin each FA for participation.6. EMD and the documents detailed in paragraph 4 above complete in all respect, should reach theservice provider before 1.00 PM on 24-05-12.7. Before actual participation, the bidders may obtain necessary help from the service provider,Metaljunction Service Ltd., so as to enable them to participate in the online forward auction processwithout difficulty.8. Final bids given by the Bidders in the online forward auction should be kept valid for 30 workingdays from the date of conduct of online forward auction for acceptance by SAIL-ISP Authority.Acceptance offers / Sale Orders / Offer Letters issued by SAIL plant/unit to H-1 Bidders against thisnotice will be valid for a definite period of 15 (Fifteen) days from the date of receipt of LOA / LOI.9. SAIL / SAIL-ISP reserves the right to accept or reject any or all the bids and their decisions shall befinal.10. In case where the bids given by the bidders in the online forward auction are not accepted, theEMD amount (excepting the H-1, 2, 3 bidders) would be refunded in full within 7 days of auction bythe service provider to the bidder.If the bids are accepted and the materials are offered through Acceptance offer / Sale Order / offerletter and the customer do not make payment as stipulated in Acceptance offer / sale Order / OfferLetter, the EMD would stand forfeited. In situations where customers have obtained Release Order /Delivery Order after making full payment but have failed to lift the offered quantities in full or partwithin the time stipulated in Release Order / Delivery Order, the Security Deposit shall be forfeited infull.11. If for any reason beyond the control of the SAIL/SAIL-ISP all the materials offered throughonline forward auction or part thereof cannot be delivered, the liability of the SAIL/SAIL-ISP will belimited only to refund the proportionate amount paid by the customer as applicable for the quantity notdelivered.12. Material lifting from the Plant / unit / shall be customer’s responsibility.2