STEEL AUTHORITY OF INDIA LIMITED - Metaljunction

II. Defining of the bidding rules for each auction in consultation with the client.III. Educating bidders about the auction mechanism and bidding rule.IV. Input of the auction items and defining of the bidding rules in the auction engine.V. Providing access to the approved bidders to participate in the Auction.VII. Summarising the Auction proceedings and communicate the outcome to the Client.The responsibility for fulfillment of the contract rests between the bidders and the clientand the responsibility of the “Service Provider” shall be restricted to the extent of theservices provided by them.ROLE OF BIDDERThe role of the bidder is outlined below:The bidder would participate in the auction with the aim of bidding to secure theauctioned item in the auction.The bidder would be provided access to the Auction through a “User ID” protected by a“Password”. The bidder needs to ensure that the “User ID” and “Password” is notrevealed to unauthorized persons. Bidders are also requested to change the passwordallocated to them by the “Service Provider” to keep their confidentiality. However itwould be bidder’s sole responsibility to ensure the security and privacy of the same andhe / they would not hold the “Client” / “Service Provider” responsible in any mannerwhatsoever for any misuse of these user IDs and / or Password. Access to the auctionmechanism shall be provided to all the approved bidders subsequent to obtaining theirwritten consent to the SAIl-FA-1”(General Terms & Conditions of sale from Plants /Units / of SAIL for sale through Online Auction / Forward Auction (FA)), GeneralRules & Regulations governing conduct of Online Forward Auctions, Letter of Interestand Special terms & Conditions of sale, Invitation to Online Forward Auction, all itsAnnexure, Appendix, corrigendum, addendum etc., if any. Payment of EarnestMoney Deposit (EMD) as decided by the client minimum 1 working day before the startof the Forward Auction will be one of the necessary conditions for participating in theauction.Bidders hereby confirm that they shall commit to lift the product (being bid for) at theprice entered by them in the auction engine AND at the terms and conditions specifiedherein by the Client. All Prices entered shall be legally binding on the bidders. Biddersare strongly advised to exercise due diligence while placing bids. Failure to honour thebids placed during online bid shall render the bidders liable for any penal action asdeemed fit by “Client” / “Service Provider”.In the event of winning an allotment in the auction mechanism, the bidder shall committo fulfill outlined obligations under the contract.The bidders shall bid on the terms specified by the client & place their bids in the auctionengine in the manner specified by “Service Provider”. The bidders shall not stipulate anyconditions on his / their own unless the terms of the client (the client’s terms &conditions) expressly permit such conditions being stipulated by the bidder. Bids enteredwith conditions attached shall be considered Conditional bids & “service provider”reserves the right of rejecting these bids even without intimating the client.25