IDCOL KALINGA IRON WORKS LIMITED (IKIWL) - Imimg

( 6 )16. No interest will be payable on EMD and on the advance payment of Rs.2.00crore referred above. In case of default, on the part of successful bidders, inmaking full payment of the balance amount as above, M/s. IDCOL and M/s. IKIWLreserve the right to forfeit the advance payment including EMD and both shall alsobe free from all the contractual obligations of the sale. M/s. IKIWL or M/s. IDCOLshall have the right to sell the rake load of pig iron in any manner considereddesirable by them.17. M/s. IKIWL shall be the consigner as well as the consignee in theConsignment Advice and the Railway Receipt issued by the railway authorities.M/s. IKIWL will endorse the Consignment Advice in the capacity of consignee infavour of the nominee of the purchasers obtained in writing from them.18. After endorsing the Consignment Advice as above, it shall be theresponsibility of purchasers to make arrangements for receiving andunloading the rake load of pig iron at the receiving destination by maintainingliaison with the railway authorities. All the charges for unloading / loading anddemurrage (if any) payable to the railway authority etc. at the receiving end shallbe the responsibility of the purchasers.19. M/s. IKIWL shall not bear the transit risk. It shall be the responsibility of thepurchasers to claim the compensation from the railways for the loss of pig iron, ifany, during the transit.20. M/s. IKIWL shall not entertain any objection to the quality of pig iron after ithas been loaded in the railway wagons and the railway receipt in question hasbeen issued. It shall be the responsibility of successful bidders to check at theircost the quality of the pig iron at the time of loading, if they so desire.