Payment Terms:
a. Post Bid Earnest Money Deposit (EMD): The successful bidder shall have to
deposit EMD @ 25% + Transaction fee on Material Value after adjusting pre bid
EMD within 4 days of acceptance of BID.
b. Balance Sale Value : The successful bidder shall have to deposit the Balance
Sale Value i.e. 75% of Material Value + Taxes on 100% of Material Value after
adjusting the EMD within 7 days of acceptance of bid.
The successful bidder has to deposit the full sale value including Transaction
fee along with Taxes with 7 days of acceptance of BID.
The successful bidders shall have to deposit Transaction fee for auctions
conducted on or after 01.04.2023 @3% Plus GST on material value over and above
the material value and other payments.
Kindly note that in case of any irregularity in the submission or filing of
taxes/returns by the buyer, the dispute has to be resolved between the seller
and the buyer and MSTC Limited shall in no way be held liable/responsible for
the same.
Default in Payment:
a. In case the buyer does not deposit the Post BID EMD his Pre Bid EMD shall be
forfeited.
b. In case the buyer does not deposit Balance Sale Value his Post Bid EMD
including Pre Bid EMD shall be forfeited.
A) GENERAL CONDITIONS:
1. MSTC Ltd. shall hereinafter be referred to as MSTC and will act in the
capacity of the Selling Agents of the seller i.e., who will act as
Principal/Owners.
2. All the offer shall be valid for a period of 90 days from the date of closing
of e-auction.
3. Only RVSF Units registered with MSTC having valid RVSF registration
certificate shall be allowed to participate in the auction. The RVSF units are
requested to register for each unit separately as per registration certificate
issued by states government. Bidders should ascertain that they are having all
the requisite documents/licenses/certificates/clearances, etc. for participation
in the event. Any wrong bidding on account of the bidder due to non-availability
of requisite documents/licences/certificates/clearances, etc. shall lead to
forfeiture of their pre-bid EMD without any claims and consideration to them.
RVSF units not registered with MSTC can register with MSTC. Refer to Buyers
(RVSF) guide provided in our website
https://www.mstcecommerce.com/auctionhome/elv/index.jsp
4. All the materials are offered for sale on AS IS WHERE IS basis. Rate must be
quoted on unit basis for each lot separately not part thereof i.e. in Rupees per
unit only. The quantity indicated against the lot is purely indicative.
5. The Principal/Owner of the materials reserves the right to withdraw at any
stage the sale of any item or quantity of material either by number or by weight
or any other specific unit etc, even after issue of Sale Order/Delivery Order.
The Principal/Owner will not be bound to assign any reason or details thereof
for such withdrawal. Value of the materials so withdrawn, if any, and paid by
the buyer will be refunded. The Principal will however, not be responsible for
any damage, loss, direct or consequential compensation whatsoever to the buyer
nor for payment of any interest.
6. The Sale will be governed by the Material List & Special Terms & Conditions
(STC) displayed on the Live eA Floor (and not under Forthcoming Auctions) as
well as the General Terms & Conditions (GTC) and Buyer Specific Terms &
Conditions (BSTC) already accepted by the Bidder at the time of eA Registration
with MSTC. The Material List & STC displayed under View Forthcoming Auctions on
MSTC's eA Website are tentative and subject to change at MSTC's sole discretion
before the start of eA. Bidders should therefore download the Material List and
STC displayed only under View Live Auctions for their record purpose, if
required. The BSTC and GTC can be seen and downloaded by going to the Home Page
of the eA Website and clicking on NEW USER. Participation in the eA will be
deemed to imply that the Bidder has made himself thoroughly aware of and
accepted the STC, BSTC and GTC. In case of any conflict between the STC and
BSTC, the STC shall prevail. MSTC shall have the right to issue addendum to the
STC or BSTC, to clarify, amend, modify, supplement or delete any of the
conditions, clauses or items stated therein and the Addendum so issued shall
form a part of the original STC.
7. MSTC/Principal reserves the right to call all the eligible bidder(s) for
revised bid along with requisite EMD for any lot.
8. The quantity in actual may turn out to be more or less than the estimated
quantity. In the event of actual quantity turning out to be less than the
estimated quantity, the buyer shall not be entitled to claim any damages, loss
of interest or compensation on this count.
9. Rate must be quoted exclusive of applicable taxes and duties which will be
charged as on date of delivery. Any variation in such taxes and duties will be
borne by the buyer/s.
B) INSPECTION DETAILS:
10. Instructions for inspection of material: a) Inspection of material shall be
allowed only in the period given in catalogue. b) Bidder coming for inspection
should carry authorization letter for inspection, if bidder is sending their
representative for inspection. c) Maximum 2 persons from one firm shall be
allowed to inspect the material at a time.
11. Bidder/s have to inspect the material thoroughly and satisfy themselves
about the nature, quality, quantity, hazardous/explosive properties, if any,
before submitting their bid. In case they come across any material beyond the
scope of the description of material, it should be informed to seller/MSTC.
After the submission of bid(s) by the Bidder, a presumption would be drawn that
the bidder has inspected the material and has satisfied himself about the
nature, quantity, quality, other technical specifications, taxes-duties and
legalities prior to the eA. No complaint, whatsoever, on the points referred
above, would be entertained after the submission of the bid.
Pictures/videos if any attached in auction catalogue are for reference purpose
only. Bidders should physically inspect the material at site to confirm the
quantity/quality of the material
12. Pre Bid EMD:
Pre Bid EMD applicable against each lot is mentioned in the table detailing the
lot details. Bidders have to maintain balance of the Pre-Bid EMD into their
buyer ledger to become eligible to participate in the auction. For detail
process for submitting Pre BID EMD refer to Important Link for Payment Mentioned
earlier in the auction catalogue.
Bidders, in their own interest, are advised to submit the pre-bid EMD amount
well in advance to avoid any last minute issues. The Prebid EMD of the
successful bidder shall be deducted from the buyers ledger and shall be
adjusted with Full Sale Value/Security Deposit/Transaction fee.
The balance Pre-Bid EMD available in buyers ledger shall be refunded on receipt
of online refund request from the buyers login to the bank account of buyer
registered in MSTC portal. Non payment of Full sale value along with transaction
fee shall result in forfeiture of Prebid EMD by MSTC.
C) POST BID FORMALITIES
13. eA lot Status/result: The status of the highest bids having been accepted on
Confirmed or STA basis must be personally seen by the Bidders online through the
link Auction Lot Status immediately after closing of eA which will be displayed
up to 7 (Seven) days from the date of Closing of eA (excluding the date of
closing of eA) and payment of Post-Bid EMD/SD must be made accordingly. Although
immediately after closing of eA, a system generated automatic Sale Intimation
Letter will be issued by e-mail to the Highest Bidder for accepted/STA lots. The
bidders must always keep their registered email account valid, failing which
bidders will be liable for non-compliance of payment/delivery instructions if
issued by MSTC/SELLER from time to time.
14. The Contract shall be treated as having been entered into as soon as the bid
is confirmed in favor of the successful bidders. The period of contract shall be
of sixty days from the date of last Delivery order by MSTC against full payment
made by the party. The contract shall be deemed to be complete as soon as the
Area is cleared of the entire material allotted or on completion of the period
of contract as mentioned above, whichever is earlier.
15. Payment Terms:
The bidders shall submit full payment (Sale Value + Transaction fee) + Taxes
after adjusting the Pre-Bid EMD through RTGS/NEFT as per Sale Intimation letter
within 7 days from date of eA for accepted lots as mentioned in the Sale
Intimation Letter. For STA lots, full payment (Sale Value + Transaction fee) is
to be submitted after adjusting the Pre-Bid EMD through RTGS/NEFT as per Sale
Intimation letter within 7 days of acceptance of the lot.
The successful bidders shall have to deposit Transaction fee @3% Plus GST on
material value over and above the material value and other payments. The same
may be adjusted from the pre-bid EMD of the bidder or bidder may have to submit
the same separately excess to the auction payment of the material.
For detail process for submitting sale value and transaction fee refer to
Important Link for Payment Mentioned earlier in the auction catalogue.
Payment dates for installments if any, shall be strictly adhered to irrespective
of whether lifting of earlier installments are completed or not.
If payment against basic cost only is deposited and amount of GST and Late
Payment Fee, if any, etc. is not deposited by buyer then the seller/stockholder
at its own discretion shall issue relevant site delivery order for reduced
quantities after adjusting the GST/ Late payment charges etc.
The GST rate applicable for each lot shall be mentioned in the lot description.
In case the GST in the lot description is displayed as As Applicable or 0 than
it shall be the responsibility of buyer to deposit the GST with the authority
under Reverse Charge Mechanism as per the provision of the GST rules.
Kindly note that in case of any irregularity in the submission or filing of
taxes/returns by the buyer, the dispute has to be resolved between the seller
and the buyer and MSTC Limited shall in no way be held liable/responsible for
the same
16. For delayed payment of balance sale value along with taxes and duties, late
payment charge @ 1% per week or part thereof for a maximum period of 14 calendar
days has also to be charged which should also feature in the STC. However, this
shall not confer any right to the Bidder to make any Late Payment of Balance
Sale Value or applicable Duties and Taxes and MSTC/Seller reserves the right not
to accept the payment of the Balance Sale Value with or without the additional
charges after the expiry of the due payment time as mentioned above.
17. In case the buyer does not deposit the Post BID EMD/full payment his Pre Bid
EMD shall be forfeited.
18. In case the buyer does not lift the material/fulfils the contractual
obligation even after payment of full material value within the time period
stipulated in the delivery order, all payments deposited shall be forfeited.
19. Delivery period: The successful bidders shall lift the all allotted material
lying in the lot allotted to them by employing their own labor and transport at
their own cost within 30 from the date of Delivery Order (including date of
issue)/or as stipulated by MSTC LIMITED in the DO.
F) DELIVERY/ LIFTING
20. Delivery of materials shall be granted to the successful buyers as per sole
discretion of the Seller and bidders shall not have any say in this regard.
Complaints/Representations in this regard shall not be entertained. It will be
deemed that bidders participating in eA shall adhere to and abide by the
sequence/order of items which shall be delivered as per discretion of the
Seller.
21. In case of delayed lifting, the collection of ground rent in advance shall
be the sole responsibility of the seller before effective delivery. The rate of
ground rent beyond the free delivery period shall be @ 1% per week or part
thereof for a maximum period of 14 calendar days.
22. In case of Goods sold on Lot Basis, the Ground Rent will be calculated at
the rate specified above on the value of the entire Lot even if lifted in part,
where as in case of Goods sold on Unit Weight or Unit Number Basis, the Ground
Rent will be calculated on the value of unlifted quantity. However it must be
noted by the Bidders that it will be the sole discretion of the Seller not to
allow the Buyer to lift the Goods with or without the Ground Rent after the
expiry of the stipulated free Delivery period or even within the aforesaid
additional period of 14 (Fourteen) Days and in such event, the sale of the
material not lifted by the Buyer(s) will be automatically cancelled and all the
moneys paid by the Buyer will be automatically forfeited.
23. Certificate of Deposit (CoD): The successful buyer needs to generate a
Certificate of Deposit as and when provision for the same is made available in
the Vahan Portal. The buyer has to upload the CoD into the MSTC portal from
their login within 30 days from the day provision for generation of CoD for
government vehicle is made available in the Vahan login of RVSFs or 30 days from
the last date of Delivery mentioned in the delivery Order whichever is later.
MSTC reserves the right to de-activate a buyer if the CoD is not is uploaded
within 30 days of the last date of delivery order mentioned in the Delivery
Order (DO).
24. TAXES AND DUTIES: The GST rate, Cess or any other statutory
Duty/Tax/Levy/Charge etc. will be applicable and payable by the Buyer as
prevailing on the date of actual physical delivery of materials. The rates of
Duties and Taxes displayed on the eA Website are only indicative and based on
the rates prevailing before the commencement of the eA.
Both Seller and bidder have to comply with rules of the Motor Vehicles
(Registration and Functions of Vehicle Scrapping Facility) Rules, 2021, and it
amendment/corrigendum.
Since ELVs to be sold shall never come under the custody or possession of the
MSTC Ltd, any complaint from the bidders/buyers on account of quality, quantity
or delivery of the goods shall be handled by the seller only.
Dispute Resolution:
a. In case of dispute & differences between the Buyer (RVSF) & Service
Provider/Selling Agent the same shall be resolved by way of arbitration. The
arbitration clause appearing in BSTC shall be treated to be applicable here.
b. The Court under which Jurisdiction the address of MSTC concerned, which is
carrying out the event/auction, is located shall have the exclusive jurisdiction
in the matter.
28. ALL CONTRACTS/TRANSACTIONS ENTERED INTO BY THE BUYER/BIDDER ARISING OUT OF
THIS eA SHALL BE GOVERNED BY THE INTEGRITY PACT AVAILABLE ON OUR WEBSITE,
www.mstcindia.co.in.
Auction Catalogue on
the live floor on the day of bidding shall be final & binding upon the buyers.
Bidders should ascertain that they are having all the requisite
documents/licences/certificates/clearances, etc. for participation in the event.
Any wrong bidding on account of the bidder due to non-availability of requisite
documents/licences/certificates/clearances, etc. shall lead to forfeiture of
their pre-bid EMD without any claims and consideration to them.
Pictures attached in Lot description are for
reference purpose only. Bidders should physically inspect the material at site
to confirm the quantity/quality of the material
SPECIAL TERMS FOR BIDDERS OF
THIS eA (it supersedes any other term in this regard)
THIS eA IS BEING CONDUCTED IN TRANSACTION FEES MODEL. IN THIS TYPE OF eA, THE
SERVICE CHARGES OF MSTC LIMITED SHALL BE RECOVERED FROM THE H1 BIDDER OVER AND
ABOVE THE MATERIAL VALUE AND OTHER PAYMENTS. THE SAME MAY BE RECOVERED FROM THE
PRE-BID EMD OF THE BIDDER OR BIDDER MAY HAVE TO SUBMIT THE SAME SEPARATELY
EXCESS TO THE AUCTION PAYMENT OF THE MATERIAL.
Auction Type : Transaction Fees model
Transaction fee as per Sale Intimation Letter (SIL) will be payable by the
highest bidder and this will be over and above the material Value (exclusive of
Taxes and duties of the material value). Transaction fee should be paid along
with the Sale Value and taxes within 11 days from Lot being declared as SOLD and
it will not be adjusted with material value. Bidders should carefully read and
understand the payment of Transaction charges and submit their bids. The payment
should be done through e-Payment gateway link give in the buyer login.
The eA shall be conducted in
REVERSE CHARGE MECHANISM.
Under
RCM, GST rates displayed, if any are purely indicative and GST rate assessment,
timely submission of GST, issuing of Purchase Tax Invoice & filing of proper GST
returns is completely the liability of the buyer and no liability in this regard
shall be taken by Seller/MSTC at any point of time.
As per the latest
notifications- Notification No. 36 /2017-Central Tax (Rate) and Notification No.
37 /2017- Integrated Tax (Rate) both dated 13/10/2017
issued by Department of Revenue, Ministry of Finance, Government of India
available in CBEC website notifications section; eA of scrap/used materials is
allowed by
Reverse Charge Mechanism.
Moreover, it is the
responsibility of the seller, in case of hosting eAs in RCM to
collect
1)
In Reverse Charge Mechanism, the Buyer bears the responsibility to submit
the requisite GST to relevant authorities, generate the GST Invoice and file
required GST Returns. However, these things can be completed only at the time of
taking actual delivery. Thus the buyer shall make payment of only the Basic
Material Value + TCS (if applicable) to MSTC which MSTC shall forward to the
Seller along with Delivery Order with instructions to collect the following
documents from the buyer and the Seller bears the sole responsibility to ensure
collection of the following documents from the buyer before allowing physical
delivery of the material:
a)True Copy of GST Registration Certificate of the Buyerb)GST submission
challan for the value of GST as shown liable in the Delivery Order
c)GST Invoice from the buyer showing proper description of material, rate,
taxes, value, GST TIN of the buyer, properly sealed and signed by the buyer.
2) Kindly note that in case of any irregularity
in the submission or filing of taxes/returns by the buyer, the dispute has to be
resolved between the Seller and the Buyer and MSTC Limited shall in no way be
held liable/responsible for the same.
Kindly Read the below mentioned terms and conditions carefully before
participating in the eA.
1) Bidders after successful login will access Pay Pre Bid EMD link at their
homepage to make pre-bid payment through RTGS/NEFT.
3) Credit of Pre-bid EMD shall be given to the bidder only after receipt of
payment in specific H.O. PNB (punjab national bank) account and after updation
of such information in the eA website. This may take some time as per banking
process and hence bidders, in their own interest, are advised to submit the
pre-bid EMD amount well in advance to avoid any last minute problem.
4) Pre-Bid EMD must be paid by the bidder (NEFT/RTGS) through the above
stated link only otherwise the pre-bid activation will not work. Refund to non
H1 bidder as per their online request will also be processed from H.O. within 3
days from the date of refund request.
5) If the successful bidder fails to make the balance value payment/full
value payment/post bid payments, pre bid emd will be forfeited. Pre-bid EMD of
successful bidder shall be converted to Security Deposit and the Acceptance
Letter will be issued.
IMPORTANT TERMS OF THE AUCTION FOR THE SALE OF CONDEMNED/ "END OF LIFE"
VEHICLES:
7) This auction shall be conducted in compliance with MoRTH 2021 guidelines
(and subsequent amendments/ clarifications)
8) This is a limited auction which will be conducted amongst the RVSF only.
Only RVSF Units registered with MSTC having valid RVSF registration certificate
shall be allowed to participate in the auction. The RVSF units are requested to
register for each unit separately as per registration certificate issued by
states government. The materials offered for sale must be inspected by the RVSF
units prior to due date of eA.
10) This auction is for the sale of END-OF-LIFE VEHICLE/ Condemned Vehicles
wherein there will be no transfer of registration of vehicles.
11) All the RVSF have to ensure that they are registered with MSTC as BUYER
under GENERAL CATEGORY and they have intimated the buyer no. to MSTC local
offices well in advance for the purpose of participation/activation in auctions
conducted for the sale of END-OF-LIFE Vehicles/ Condemned Vehicles.
12) All the RVSF also have to ensure that the GST no. and address available
in their buyer registration profile is as per the guidelines for the submission
of GST to Govt. Authorities under RCM.
13) Both Seller and bidder have to comply with rules of the Motor Vehicles
(Registration and Functions of Vehicle Scrapping Facility) Rules, 2021, Rules of
the Transport Department, Delhi and any other End of Life Vehicle rules lex
loci.
14) It is the responsibility of the successful RVSF units to lift the ELV by
arranging its own resources and transport it to its RVSF facility. The last date
of Lifting the lots shall be as per Special Terms and Condition of the auction.
15) THE RVSF units shall generate the RVSF and subsequently de-register the
ELVs in the Vahan Portal
16) Seller to download the CoDs from their ELV seller login.
17) The unsold lots shall be put up for reA by MSTC.
PAYMENT TERMS/ ACCOUNT DETAILS:
19) Buyers are instructed to make MSTC Payment through E-PAYMENT mode ONLY.
NO other mode of payment will be accepted.
21) MSTC shall collect full payment from the H1 RVSF Buyer within a pre
determined period which shall be mentioned in the auction terms and condition.
MSTC shall collected the entire payment in a single instalment and issue the
Sale Order/Delivery order to the H1 bidder.
22) MSTC shall transfer the payment to concerned Central Govt Department
after deduction of its administrative charges.
B) GENERAL CONDITIONS:
24) MSTC Ltd. shall hereinafter be referred to as MSTC and will act in the
capacity of the Selling Agents of the seller i.e Niti Aayog, who will act as
Principal/Owners.
25) All the offer shall be valid for a period of 90 days from the date of
closing of eA.
28) After the submission of bid(s) by the Bidder, a presumption would be
drawn that the bidder has inspected the vehicle and has satisfied himself about
the nature, quantity, quality, other technical specifications, taxes-duties and
legalities prior to the eA. No complaint, whatsoever, on the points referred
above, would be entertained after the submission of the bid.
29) The Principal of the materials reserves the right to withdraw at any
stage the sale of any item or quantity or any other specific unit etc, even
after issue of Sale Order/Delivery Order. The Principal will not be bound to
assign any reason or details thereof for such withdrawal. Value of the materials
so withdrawn, if any, and paid by the buyer will be refunded. The Principal will
however, not be responsible for any damage, loss, direct or consequential
compensation whatsoever to the buyer nor for payment of any interest.
31) MSTC/Principal reserves the right to call all the eligible bidder(s) for
revised bid along with requisite EMD for any lot.
32) Rate must be quoted exclusive of applicable taxes and duties which will
be charged as on date of delivery. Any variation in such taxes and duties will
be borne by the buyer/s.
D) POST BID FORMALITIES
35) eA lot Status/result: The status of the highest bids having been accepted
on Confirmed or STA basis must be personally seen by the Bidders online through
the link Auction Lot Status immediately after closing of eA which will be
displayed up to 7 (Seven) days from the date of Closing of eA (excluding the
date of closing of eA) and payment of Post-Bid EMD/SD must be made accordingly.
Although immediately after closing of eA, a system generated automatic Sale
Intimation Letter will be issued by e-mail to the Highest Bidder for accepted/STA
lots. The bidders must always keep their registered email account valid, failing
which bidders will be liable for non-compliance of payment/delivery instructions
if issued by MSTC/SELLER from time to time.
36) The Contract shall be treated as having been entered into as soon as the
bid is confirmed in favor of the successful bidders. The period of contract
shall be of 60 days from the date of last Delivery order by MSTC against full
payment made by the party. The contract shall be deemed to be complete as soon
as the Area is cleared or on completion of the period of contract as mentioned
above, whichever is earlier.
37) For delayed payment of sale value along with taxes and duties, late
payment charge @1% per week or part thereof for a maximum period of 14 calendar
days has also to be charged which should also feature in the STC. However, this
shall not confer any right to the Bidder to make any Late Payment of Balance
Sale Value or applicable Taxes and MSTC/Seller reserves the right not to accept
the payment of the Balance Sale Value with or without the additional charges
after the expiry of the due payment time as mentioned above.
38) Delivery period: The successful bidders shall lift the vehicle by
employing their own labor and transport at their own cost within 30 days from
the date of DO (including date of issue)/or as stipulated by MSTC LIMITED.
CLICK HERE FOR TERMS & CONDITION