STEEL AUTHORITY OF INDIA LIMITED - Metaljunction

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BIDDING RULESThe Bidding Rules refer to the information and terms defined specifically for a particularauction. The purpose of the Bidding rules is to provide approved bidders with theinformation and terms specific to the auction in which they are bidding. This wouldinclude:• Definition of the unit bidding.• Start Time and duration of the auction.• Any extension of the duration of the auction in the event of bids being receivedtowards the end of the pre-specified duration.• Start Bid Price.• Specified Unit for Bidding.• Price Increments and any reduction in the price increment in the auction in the event ofinactivity.• Other attributes (informational / non-negotiable in nature).While it shall be the endeavour of “Service Provider” to specify these rules at the earliestfor each online bid, the “ Service Provider” shall have the right todelay the announcement of these bidding rules or modify rules specified earlier at thetime of the online Bid. These details would be available to the bidders on the AuctionEngine at the time of bidding.Participation in the auction process presumes complete awareness and understanding ofthe bidding rules.CONDUCT <strong>OF</strong> THE AUCTION:Only those bidders who have been approved by the client and / or have handed overstamped and mutually signed “SAIL-FA-1(General terms & Conditions of sale fromPlants / Units / of SAIL for sale through Online Auction / Forward Auction (FA))”,“General Rules & Regulations governing conduct of Online Forward Auction”, Letterof Interest, Special Terms & Conditions of Sale, Invitation to Online ForwardAuction, all its Annexure, Appendix, corrigendum, addendum etc., if any and thenecessary EMD amount to the Service Provider in case of Plant / Unit / other than CMOat least one day prior to start of the online Auction will be given User – ID and passwordto enable them to view and participate in Online Auction.However a time of 5 working days in case of regular items and 8 working days in case ofIdle Assets and non-regulat items shall be provided for in between the date of the OnlineAuction Notice and the date of conducting the Online Forward Auction.The Auction shall be conducted on pre-specified date. The Key Terms pertaining to theconduct of Auction such as “ START TIME”, “DURATION”, “END TIME” AND“AUTO EXTENSION FACILITY” shall be specified separately for each Auction.Service provider reserves the right to cancel or reschedule the auction, with the approvalof the Competent Authority of the Client of the respective Plant / Unit / on any of thefollowing reasons:26
I. The number of confirmed bidders is deemed insufficient to conduct the auction.II. Some of the confirmed bidders are unable to access the module due to infrastructureproblems such as sustained power failure or telecommunication breakdown.III. There are no bids accepted which are equal to or below any Start Bid Price.IV. Any other reason which in the opinion of Service Provider / Client requires suchaction to be initiated.The duration of auction may also vary from the pre-specified period of time either onaccount of termination of the auction by the Service Providera) on the advice of the Client orb) In case of situations where it is felt that continuance of the auction proceedings isprejudicial to the smooth conduct and / or the integrity of the auction process.ORDue to Auto Extension during the Auction, duration may increase from specified period.In the event of any problems being faced in the smooth conduct of the auction, theService Provider with the approval of the Competent Authority of the respective Plant /Unit / shall have the right to undertake one or more of the following steps:• Cancellation/ premature termination of the auction with / without a subsequent rerun ofthe auction on a mutually decided date.• Cancellation of a bid.• Lock / deactivate a bidder’s account (suspension of operations in the account), etc.In case of failure of net connection, the bidder will give his / their best price to theService Provider. The Service Provider will bid on behalf of the bidder with theminimum increment until the bid price reaches the best price offered by the bidder, byproxy bidding mechanism.The best price communicated by the bidder will have to be authenticated by writtenconfirmation or fax to the Service Provider and will be kept confidential between theService Provider and the bidder. However, the bids received through Online AuctionPlatform shall only be acceptable. Bidder will be bound by the price offered by him.Liability Of the Service ProviderThe Service Provider shall not be liable to the client / bidders in the auction or any otherperson(s) for:• Any breach of contract by any of the parties in the fulfillment of the underlyingcontract.• Any delays in initiating the online auction or postponement / cancellation of the onlineauction proceedings due to any problem with the hardware / software / infrastructurefacilities or any other shortcomings.While, reasonable care and diligence will be taken by “Service Provider” in discharge ofits responsibilities such as design of the online bid, communication of bid details andrules, guidance to client / bidders in accessing the Auction Engine and placing bids, etc.the bidders shall specifically indemnify the Service Provider from all liabilities for anyshortcomings on these aspects. It is clearly understood that these activities are27
Page 1 and 2: ANNEXURE-ASTEEL AUTHORITY OF INDIA
Page 3 and 4: 13. The sale of materials shall be
Page 5 and 6: 5. Price Break-Up Schedule (Appendi
Page 7 and 8: 6.14 The SB shall also strictly fol
Page 9 and 10: 13.2 Self attested and stamped decl
Page 11 and 12: Minimum validity of DD/BC/PO shall
Page 13 and 14: picking & choosing will be allowed
Page 15 and 16: shall stand cancelled and the secur
Page 17 and 18: for forfeiture at sole discretion o
Page 19 and 20: II (excluding Excise Duty with Cess
Page 21 and 22: ) VAT @ 4% or CST @ 4% / CST or CST
Page 23 and 24: (6) I/We request Service Provider t
Page 25: II. Defining of the bidding rules f
Page 29 and 30: Page (1 of 2)ANNEXURE- DDEFINITION
Page 31 and 32: 31Annexure- IIIPROCEDURE FOR DESPAT
Page 33 and 34: Adjustment will be allowed for once

STEEL AUTHORITY OF INDIA LIMITED - Metaljunction

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