E-Auction No: 429/Archean

Bidding should be excluding GST which will be charged extra.

Last Date for Submission of E-Auction form along with EMD:

08th February 2024 till 4:00 pm at surveyor’s below mentioned address.

SIB Insurance Surveyors & Loss Assessors Pvt. Ltd.

 (Sajid Rajani – +919730329066)

Date of E-Auction for bidding is 09th February 2024 from 2.30 PM Onwards.

E-Auction forms should be submitted in sealed envelope indicating, “E-Auction for sale of affected Material: E-Auction No.429/Archean.

Earnest Money: Rs.3,00,000/- (Rs. Three Lakhs Only) by Demand Draft in favor of:

“Archean Chemical Industries Ltd. Payable at Chennai”

TERMS AND CONDITIONS

1. Bidding should be excluding the GST which will be charged extra. The bidder / Purchaser shall bear all taxes, duties and levies as may be applicable in addition to the quoted price.

2. Bidding once placed by the buyer cannot be reduced. Phone calls and Emails will not be entertained.

3. All materials is for sale on “as is where is basis”

4. Right to Accept or Reject E-Auction forms:

5 The right to accept or reject any and/or all tenders is reserved with the Surveyor without assigning any reason. The surveyor reserves the right to negotiate with the highest bidders. If the bids received are below the expected price, the surveyors reserve the right to reject the bids received and take such steps as may be necessary in the best interest for realizing the maximum possible price for the material.

6. Description of Materials, Quality and Quantity apparent or inherent:

7 All goods are sold strictly on “As-is-where-is basis with all apparent and/or inherent defects”. Quantities, sizes and number stated in the tender are approximate. All goods are sold on express condition that the bidders have inspected the same and know what they are buying, whether they have actually inspected the same or not. Neither Vendor nor the surveyors appointed by the concerned Insurers gives any guarantee or warranty or undertakes any responsibilities for the make, measurement, manufacture, description, quality, condition, size, weight, grade, accuracy, soundness, completeness etc. of the goods or their suitability for any particular purpose.

8. The billing will be done to the successful bidder on lot basis.

9. EMD: & Payment Terms:

        a) No interest will be payable on the earnest money deposited by the bidders. The refund of EMD will be made to the unsuccessful bidders within 10 working days’ (Excluding Saturday & Sunday) time of the opening of tender. EMD of bidders called for negotiation may be held back till negotiation is completed. EMD of successful bidder will be retained and adjusted against final payment.

        b) E-Auction documents not accompanied by EMD will be rejected. EMD should be by way of Demand Draft only. Cheques will not be accepted.

        c) 100% of the total salvage value should be deposited in advance within 7 working days from the date of award by way of D/D after adjusting for EMD.

        d) Material will be delivered against advance paid and received.

        e) The EMD will be adjusted in the last bill.

        f) In case, the amount of the bid is not paid within the specific period, the EMD paid by the successful Tenderer, along with his rights if any on the goods for which he had bid, shall stand forfeited.

        g) The description of equipment is believed to be correct. However, the Vendors/Surveyors shall not be responsible for any unintended error. Similarly, if there is any error, misstatement or omission, it shall not affect the sale nor entitle the purchaser to cancel the purchase or be discharged from any of his obligations and/or entitle him/her for any compensation.

        h) The E-auction shall automatically extend by three minutes in case someone enters a bid in the last one minute of the remaining time in closure of auction. This shall continue indefinitely until no one bids in the last one minute of the time remaining. The highest bid for above category will be considered.

10. Issue of Sale Order and Delivery of Materials:

        a) After issue of Sale Order the successful bidder shall lift the goods within a period of 20 days from the date of opening of the bid. Delivery during a period beyond 20 days may be extended, subject valid and justifiable reasons, as may be decided by vendor/surveyor and also subject to payment of storage charges, but such extension may be limited to a maximum 15 days.

        b) If the successful bidder fails to lift the quantity as per contract within stipulated delivery period as stated in Para 8. (a) above, then the EMD and sale amount paid shall stand forfeited and all his rights for the remaining goods for which his bid has been accepted shall also stand forfeited. The seller will then be free to dispose of the material to any other party at the cost and risk of the successful bidder(s). Similarly the tenderers to whom the material is offered subsequently should lift the material after making payment as stipulated failing which the EMD of those defaulting tenderers will also be forfeited.

        c) The purchaser will make his own arrangement for loading and transportation of items from the premises and will not be entitled to claim any facilities or assistance in this regard. Loading will be done by Purchaser at his cost under the supervision of a Seller’s representative. Any damage to the structure while loading etc. will be borne by the purchaser.

        d) Lifting of material should be as per instruction from Seller. Material which is more damaged should be lifted first, lesser damaged next and least damaged will be lifted last.

11. GENERAL:

a) The bidders are required to give their correct name, Email-ID, State & Central Sales Tax Registration No. and date, telephone nos. in the bid form. The delivery order (Sale Order) shall be given to the purchaser or their representative on production of necessary authority from the original purchaser who signed the E-AuctionForm.

b) The purchasers are warned that any attempt to misuse the gate pass, challans, authorizing delivery of any other documents will be liable for serious penalty or such other action against them. The purchasers are requested to ensure that important documents, relating to sale are in the custody of trustworthy, responsible and authorized persons.

c) All bidders and purchasers shall be deemed to have read and acquainted with these conditions of the sale and have given their bids, subject to these conditions.

d) The Vendor and / or Surveyor shall not be liable for non-performance of contract either wholly or in part nor for any delay in performance resulting from or due to any cause beyond their control

.

e) All notices and the letters when posted to the purchaser shall be deemed to have been received by him/them, if the same are sent at the address given by the purchaser.

f) Successful execution of the contract work means complete clearance of the damaged material from the specified location and removal of the same outside the premises of the site wherein the fire /water damaged goods are stored, as per the directions from time to time.

g) The Vendor and /or Surveyor shall not be liable for or be bound in any manner for any representation or statement which are not contained in these terms and conditions of sale or are contrary and inconsistent therewith purported to have been made by the Vendor and/or the Surveyors.

h) If any irregularities are observed during the entire process of E-Auction then Vendor / surveyors will have sole right and discretion to amend /alter/replace/add any condition which they find appropriate.

i) After the sale, if confirmed, the Vendor shall within 7 days execute necessary documents at the cost of the purchaser, to complete the sale in favor of the purchaser.

j) The Vendor makes no representation or warranty, express or implied, including of fitness of the goods or for its use for any particular purpose. Under no circumstances shall the Vendor/Surveyor be liable for incidental, direct or indirect damages for alleged negligence, breach of warranty,  or for any reason whatsoever arising in connection with the sale of  goods.

k) The purchaser may test/inspect the goods for its intended conditions of use.

l) The validity of this disclaimer shall be a continuing one. Any seller of these goods or any part thereof shall always be bound to disclose the same to any subsequent purchaser.

m) All warranties, quality assurances on the damaged goods have ceased and same is no more enforceable on any further usage/ sale/ conversion of the damaged material.

n) Any statement, quality assurance, warranties either expressed orally or in writing by the successful bidder in the market whilst disposal of such affected material will not be binding upon to the Vendor/Surveyor/ Insurance Company.

o) All costs, charges and expenses of and incidental to in relation to the scrap, shall be borne and paid by the purchaser only.

p) The material may contain hazardous goods/residue or vapour of hazardous nature. The purchaser should take all necessary precautions inside and outside the vendor’s factory premises and the purchaser will be solely responsible for the safety of his workmen and others while handling the salvage.