E- Auction Participation Terms & Conditions

Sale of salvage of ‘Fire ( Spontaneous) damage Mustard DOC’ in ‘Below Mentioned Table Basis’ through E-auction at www.eboli.in on ‘As is Where is’ and ‘Whatever there is’ basis, belonging to M/s Gupta Solvent Pvt Ltd and lying at : Gupta Solvent Pvt. Ltd; AB Road, Opposite Gharona mandir, Morena, Madhya Pradesh. (here-in-after referred to as ‘the Seller).

1.0     We propose that the Private Auction may be conducted on 21/09/2024 from 04.00 pm to 05.00 pm as per following details.

TABLE OF CONTENT  

** Interested Buyer is solely responsible to participate after checking each item for its correctness, E-Auction Agency, Seller is not responsible for any difference in material if participation is performed without inspection.

EMD of the 2^nd highest bidder shall be retained for 10 working days from the date of auction, who will be obliged to honor his last bid, in case if the captioned goods are offered to them for purchase. Failure to do so will lead to forfeiture of EMD amount. All the terms and conditions mentioned below shall apply in such case.

2.0        Inspection Details:

Inspection of the material can be made on any working day upto 20/09/2024 upto 03:00 p.m. with prior intimation and appointment for salvage.                                                                                                                                                

3.0   Earnest Money Deposit (EMD):

3.1            Interested buyers can pre-qualify themselves for participation in the abovementioned categories of E-auctions, by paying the EMD amount of Rs. 2,00,000/- (Rs Two Lac Only) by way of deposit the EMD at Hummingpure Tech Solutions Pvt Ltd through NEFT/RTGS along with the E-auction form, duly filled & signed by them.

3.2            The EMD(s) Payment proof and E-auction form to be deposited at the auctioneer’s registered address H.O. – K-110, Janta LIG, Choti Bhamori, Near Astha Takies, Indore-452011 or at any of our offices mentioned on our website latest by 05.00 PM 04/09/2024.

3.3        EMD is dealt with as per the procedure mentioned below: - 

a) In case of unsuccessful bidders (H3 and above), EMD Amount will be refunded (through Electronic Transfer)  immediately but not before 3 working days from the completion of E-auction process subject to the terms and conditions mentioned herein and at the website, Online refund will be available for participants deposited EMD to Hummingpure Tech Solutions Pvt. Ltd. through NEFT/RTGS only.

b) In case of the second highest bidder, EMD shall be retained for 10 working days from the date of E-Auction and may be asked to honor the deal at the second highest bid within the aforesaid period.

c) In case of successful bidder (hereinafter referred to as ‘the Purchaser’), the EMD in the form of NEFT/RTGS shall be handed over to the Seller in due course after satisfactory completion of lifting by the Final Successful Buyer and payment of Auctioneer’s fees followed by approval to submit EMD by competent authority.

d) Buyer is solely responsible for participation, hence once the letter of acceptance is being issued to H-1 bidder, The EMD, Salvage amount Or any fund already deposited either with Auctioneer Or Seller will not be refunded to H1 bidder, Auctioneer will not be responsible for any loss to Seller Or Buyer and visa versa.

Please note that your username will be enabled allowing you to bid only if the abovementioned EMD has been submitted within the stipulated time, Any delay in showing willingness to participate Or submission of required documents, the decision will be taken by Surveyor/Insurance company.

3.5       In case the EMD demand draft becomes stale or about to become stale anytime during the transaction, then the Purchaser shall be required to issue a fresh demand draft towards EMD at least 15 days before the stale date. In case of failure to do so, the security deposit and/or any other payment made by the purchaser shall be forfeited and all lifting shall be stopped with immediate effect.

3.6      If in case the Insured/Seller also participates in the e-Auction and wins the material as the highest bidder,   then in such a case the Insured shall pay the commission to HummingPure Tech Solutions Pvt Ltd the parent company of Eboli India maximum within 3 working days from the date of approval on the e-Auction result received from the competent authority, EMD deposit is waived to Insured.

4.0        Participation & Processing fees:

The fee of Rs. 2000/- shall be levied separately on account of participation and processing of the E-auction form and the same must be submitted along with the EMD by NEFT/RTGS in favor of HummingPure Tech Solutions Pvt Ltd, No application shall be accepted unless accompanied by the Participation Fees, Participating seller will also be liable to deposit processing fees.

5.0        Special Conditions:

Disposal of the above material will be on ‘As Is Where Is’, ‘Whatever There Is’ and ‘No Complaint’ basis subject to the following conditions: -

5.1            All charges incidental to cutting (if required), loading and lifting of material will be borne by the Purchaser. It is assumed that prospective bidders have inspected the above material and acquainted themselves about the offered goods available for purchase, whether they have actually inspected the same or not. However, it is expected that the prospective bidders will inspect the material at site, before participating in E-auction.

5.2            There  will  be  no  guarantee  for  quantity  &  quality of offered goods either by us or by the owners,  as  material  is  being  sold  on  ‘As  Is  Where  Is’,  and ‘Whatever There Is’ basis.

5.3            Lifting is to be made as per instructions given by the Seller. For example, more damaged material to be lifted first etc.

5.4            The Purchaser shall not be allowed to pick or choose or segregate any particular item out of the lot sold by the Seller at the time of delivery of the lot. The Purchaser shall be bound to clear the entire lot as directed by the Seller on clean sweep basis.

5.5            Queries / clarifications, if any, should be addressed before the auction. No queries / clarifications will be entertained after the auction.

5.6            During lifting of the salvage, the Purchaser shall be solely responsible for the safety of his workmen, employees, vehicle etc. The Seller shall not be in any manner, whatsoever, held liable for any injuries, loss, damage that may occur to the Purchaser's employees or equipment.

5.7            The sale of offered goods are of different categories of items clubbed in 1 number of private auction on single page basis under the subject insurance claim, the buyer with H1 bid considering highest bid to lift without selection of material, will be announced as winner subject to approval from competent authority.  

5.8            Weighment of material will be a joint responsibility of Seller and the Purchaser; each weighment slip shall bear signatures of authorized representatives of both parties (Seller and Purchaser). 

5.9            On approval, the Purchaser should deposit 100% balance advance payment (excluding EMD) deposited with M/s HummingPure Tech Solutions Private Ltd according to the approximate quantity to

5.10         M/s Gupta Solvent Pvt. Ltd within 3 working days of receipt of offer acceptance letter, failing which their EMD will be forfeited. 

5.11          After depositing 100% payment, the Purchaser shall start lifting and clear the lot awarded to him, from the Site within a period of maximum 7 working days from the date of receipt of offer acceptance letter by him.

5.12          Lifting shall be made against advance payment on Quantity (above mentioned table) basis. 

(i)              If the offered material is more than the estimated quantity mentioned above, then the Purchaser will deposit additional amount, as may be suitably required with the seller, by DD/Money Transfer/Cash, after adjusting security deposit / EMD already paid. At no time the delivery shall be made for more than the amount deposited with the seller M/s Gupta Solvent Pvt. Ltd 

(ii)             If the offered material lifted by the successful bidder, is less than the estimated quantity, then M/s Gupta Solvent Pvt. Ltd refund the excess amount deposited by the Purchaser, within 5 working days after completion of lifting of entire offered materials. 

5.13          In case the Purchaser fails to comply with the above-mentioned clause then:

(i) The Purchaser shall pay to the Seller ground rent, as decided for the period in excess of the stipulated period and/or,

(ii) The Seller may dispose of the remaining lot at its discretion, at the cost and responsibility of the Purchaser.

5.14         The Earnest Money Deposit (EMD) or any other amount will not attract any interest.

5.15         Act of God: No relaxation shall be given on account of any damage or deterioration of materials after the date of issuance of delivery order / offer acceptance letter due to act of God such as rain, storm, flood, cyclone, etc.

5.16         The Seller reserves the right to reject any bid without assigning any reason.

5.17         Rule of ‘Caveat Emptor’ shall apply.

5.18         The E-auction shall automatically extend by three minutes (3 Min) 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.

5.19         The rule 5.17 applies to each individual auction whether single OR proposed for bidding in group type auction, The time extension applies to the only specific auction enters with entry in last one minute of auction.

6.0              Commercial Terms: 

6.1              The Unit Rate for purchase of offered goods shall be exclusive of all applicable duties, taxes and other statutory levies.

6.2              Conditional offers or any offer received without Earnest Money Deposit will not be entertained.

6.3              The terms and conditions contained in this mailer may be changed without notice. Please visit and register at our website, www.eboli.in for latest information / changes in terms and conditions on start time/date and end time/date, changes in  items  offered  for  sale  and  other  changes,  extension  of auction time, date etc. and the terms and conditions to which the auction is subject to.

7.0        Liability of M/s Hummingpure Tech Solutions Pvt Ltd :

7.1            The E-auction Participation form constitutes an agreement between the Seller and the Purchaser. Eboli India OR its parent company M/s Hummingpure Tech Solutions Private Limited are acting solely in the capacity of facilitators to the transaction. 

7.2            Eboli India & M/s Hummingpure Tech Solutions Private Limited is acting on behalf of the Seller, M/s Gupta Solvent Pvt. Ltd & appointed by Lucille Insurance Surveyors & Loss Assessors.

7.3        Eboli India takes no responsibility of the quality, quantity and documentation details of items on sale. In no event shall they be liable for any loss sustained by the Seller or the Purchaser w.r.t. their business, revenues, profit, costs, direct and incidental, consequential or punitive, damages of any claim.

7.4        The Purchaser agrees to have discussed all the related matters regarding any transaction and have understood in full that we provide sources of supply or enquiries and/or leads for supply. We have nothing to do any further especially with regard to the quality, quantity, warranty, guarantees, delivery schedules, payments, rejections, transportation and legal laws & regulations to be followed from time to time.

 7.5        The EMD is accepted on behalf of the Seller by Eboli India. Eboli India do not earn any kind of income on this EMD amount and is held by it only as a security on the behalf of the Seller to be later adjusted against payments to be made by the Purchaser to the Seller. In no event shall Eboli India and Its Parent HummingPure Tech Solutions Pvt Ltd be held responsible or accountable for any kind of indemnification, for whatever reason, to the Purchaser or to the Seller. It is understood that any conflict between the Seller and the Purchaser shall be dealt with between the two parties by themselves without making Eboli India Or Its Parent company HummingPure Tech Solutions Pvt Ltd a party to it. It is further understood that Eboli India are only a marketplace conducting E-auction for the Seller, on their direct or indirect request, so as to find prospective buyers out of their database for them who are interested to purchase the E-auctioned property belonging to the Seller. Eboli India also takes no responsibility for the conduct or past history of the participating bidders and shall in no way be held responsible in regard thereto.

 7.6            The Seller shall be solely responsible for procuring / arranging all necessary permission(s) or certificate(s), required if any, to sell the subject salvage, particularly in case of the offered goods meant for human consumption OR usage in what so ever form. The Seller shall give proper and required declaration in this regard on the Sales Invoice.

7.7            Eboli India being only the facilitators for disposal of salvage, have no knowledge about the specific trade requirements and shall bear no responsibility of any kind, in this regard of whatsoever nature.

7.8        Similarly, the Purchaser shall be solely responsible for any harm/loss of life or property caused due to inappropriate consumption/usage of salvage of offered goods, purchased by him.

7.9        The rule of ‘caveat emptor’ shall apply here. Therefore, the Purchaser should inquire and fully familiarize themselves with all the limitations, rules, licenses required and regulations in respect of end use consumption/further reselling of the offered goods sold as salvage.

7.10      During the period of ONLINE AUCTION, Eboli India will not be held responsible for any power failures / Internet Connection failures / Bandwidth problem / erroneous Bids etc. at the bidder’s end. Bidders themselves need to check it at their end and bid in advance and monitor their lots.  

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Kindly submit the Copies of Address Proof / Pan Card/ Vat Tax/ GST Tax Certificates along with this Form.

DECLARATION TO BE SIGNED BY PARTICIPANT:

I/We have read and acquainted myself/ourselves with the terms and conditions of sale of “‘ Fire (Spontaneous) damage Mustard De-Oiled Cake’ ” under Private Auction ID:PR-

Name of the Participant (Company)         :

Address                                                         :

Bidding Email ID                                       :                                             Phone No. :

Contact person                                            :          

PAN no.                                                       :                                             GSTIN      : 

DECLARATION TO BE SIGNED BY PARTICIPANT:

I/We confirm that the subject material is YES  /  NO visually inspected by Us, If No than I/We, will be solely responsible for any deviation in understanding of the subject salvage material Condition, Quantity & Quality.

BANK DETAILS OF BUYER

Account Name   :                                                  Account Number: --------------------------

Bank Name:                                                     Bank Branch:                             IFSC Code: ---------------------

Declaration: I declare that all the particulars given above are true and I understand that this E-Auction participation form that I have duly signed is a legal document and is enforceable at law.

I/We hereby submit Earnest Money of Rs 2,00,000/- (Rupees Two Lac Only) required in the form of D.D.No / NEFT ……………….…….  dated…………………. drawn on …………………………. Bank in favor of “M/s Gupta Solvent Pvt. Ltd” payable at Par OR can be transferred by NEFT/IMPS in A/c of Hummingpure Tech Solutions Private Limited. 

I/We hereby submit Participation Fees of Rs. 2000/- (Rs. Two Thousand Only) required in the form of D.D / NEFT Reference No………………………….…….  dated…………………... drawn on …………………………. Bank in favor of “M/s. HummingPure Tech Solutions Private Limited” payable at PAR.

      _________________                                                                                           __________________

Signature of the Participant                                                                                  Name & Designation Of the

                                                                                                                        person Signing

Date: 

Last date for Submission of Participation Form along with EMD Demand Draft/NEFT is 20/09/2024