ALL CONTRACTS/TRANSACTIONS ENTERED INTO
BY THE
BUYER/BIDDER ARISING OUT OF THIS E-AUCTION SHALL BE GOVERNED BY THE
INTEGRITY PACT AVAILABLE ON OUR WEBSITE, www.mstcindia.co.in
NOTE * Sale is on "As is where is Basis"
& "No Complaint Basis". Bidders are advised
to inspect the
materials & satisfy
themselves regarding condition of the materials.
e-TENDER CUM e-AUCTION BIDDING PROCESS:
1. During live auction, on clicking the e-Tender-cum-e-auction
number a dialog box will appear asking the
bidder to choose the mode of bidding _e-Auction or _e-Tender. The
bidders can participate either in e-tender or e-auction or both.
2. If the bidder chooses e-Tender, the e-tender submission
page will appear with all details. Now, the bidder can type his bid
against the lot of his choice and click on _BID_ button to submit their
bid. Once a bid is registered against a lot, the _BID_
button against the lot will get disabled and they cannot bid for the
same lot again. To view their bid, they may click on the link _Your
Bid_ and see the bid and bid date and time.
3. To participate in the e-Auction, the bidder has to click
the auction Number and choose e-Auction, from the dialogue box, as
their mode of bidding. The auction floor will open up with relevant
details.
4. There will be no extension
of time for bidding in e-Tender. This means that e-tender will close at
the scheduled close time, even if the e-Auction for the same lots may
continue in the
extended period.
5. In the event of e-tender and e-auction price being equal,
the price bid accorded first with reference to time will get precedence.
6. After closure of the e-Tender-Cum-e-Auction, system will
select the final highest bid after comparing the highest bids received
in e-tender and e-Auction.
NOTE TO BUYERS : THE HIGHEST BIDS RECEIVED IN THIS
e-TENDER-cum- e-AUCTION SALE IS SUBJECT TO FURTHER CONFIRMATION BY THE
SELLER, REGARDING ACCEPTANCE OR OTHERWISE OF THE HIGHEST BIDS WITHOUT
ASSIGNING ANY REASON (EVEN THOUGH THE HI BIDDER MAY GET THE AUTO-
SYSTEM GENERATED EMAIL AS THEIR HI BID HAVING BEEN ACCEPTED OR STA).
FOR ACCEPTED LOTS, THE H-1(HIGHEST) BIDDER HAS TO SUBMIT EMD/ Security
Deposit @ 10% OF THE MATERIAL VALUE ONLY.
In
order to participate in bidding for lots which require
pre bid EMD, the bidder is required to have sufficient balance in the
EMD
wallet provided to the bidder for the purpose. A bidder can add money
to its
EMD wallet anytime through e-payment mode only and by following the
link Pay
Pre Bid EMD provided in the dashboard. Bidders in their own interest
are
advised to keep sufficient balance in their EMD wallet to bid in any
auction
and avoid any last minute hiccup. MSTC/Seller shall not be responsible
for any
delay in crediting of the money in MSTCs bank account due to any
reason
resulting in delay in updating the EMD wallet of the bidder
Bidders
after successful login will get three
new links at their homepage as:
(i)Pay Pre Bid EMD
(ii)EMD Refund Request
(iii) EMD Ledger
Pre Bid EMD
must be paid by the bidder (NEFT/RTGS) through this first link only.
For Refunds, Bidders need to request through the second link only.
Refund to bidder as per their online request will also be processed
from HO on the next working day. PRE
Bid EMD of H1 bidders will not be adjusted with balance material value.
The same will be refunded to buyer after completion of material
delivery. No interest will be paid for the Pre
Bid EMD paid to MSTC Ltd. during such period.
PREBID EMD FOR EACH LOT as
per the details given in Lot Description to be
made must be deposited on or before ONE DAY PRIOR TO E-AUCTION DATE. PREBID EMD MUST BE PAID BY THE BIDDER NEFT/RTGS
mode through PAY PREBID EMD MODE FROM THE
WEBSITE https://www.mstcecommerce.com
TO PARTICIPATE IN THE E-AUCTION.
Interested parties who are
registered with MSTC for e-Auction
(since eauction registration for buyers is an ongoing process, new
customers can also register at our website i.e. www.mstcecommerce.com
and fulfill the requirement in time) must deposit the above pre-bid EMD
for being allowed to bid in this e-Auction.
">1) Date of Inspection:For
inspection of materials, the seller/company name, date of commencement
of inspection, name of contact official with their contact details are
as mentioned above. The eauction commencement date/ closing date are
also as mentioned above.
Bidders may inspect the materials on working day during office hours
i.e., from 9:00 a.m. to 5:00 p.m. by prior appointment from Mr.
Maheswaran T to satisfy yourself to give the best offer.
2)EAUCTION RESULT/STATUS: eAuction Result/Status: 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 eAuction which will be displayed upto 7 (Seven) days from
the date of Closing of eAuction (excluding the date of closing
ofeAuction) and payment of Post-Bid EMD/SD must be made accordingly.
Although immediately after closing of eAuction, a system generated
automatic Sale Intimation Letter will be issued by e-mail to the
Highest Bidder. 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.
RTGS DETAILS FOR LARSEN AND TOUBRO LIMITED
Account Name: LARSEN AND TOUBRO LIMITED
Bank : IDBI BANK
Branch : CHENNAI MAIN BRANCH
Account No: 129103000002196
IFSC Code : IBKL0000129
3) PAYMENT OF EMD/SD:
a) EMD Payment to be made by way of epayment in favour of
"MSTC Limited" Within 5
(Five) calendar days from the date of closing of eAuction (excluding
the date of eAuction closing) by the highest Bidder whose
bid is accepted on Confirmed basis. Non-payment will result in
automatic deactivation of Bidders Password. Although immediately after
closing of eAuction, a system generated automatic Sale Intimation
Letter
will be issued by e-mail to the Highest Bidder advising him to deposit
the prescribed Post-Bid EMD/SD within the stipulated time through
NEFT/RTGS. It must be noted by the Bidders that such Sale Intimation
Letter will be issued by MSTC only
for the purpose of record and payment of Post-Bid EMD/SD will have to
be made within the stipulated time counted from the date of Closing
ofeAuction irrespective of the date of issue of the Sale Intimation
Letter by email. Bidders must, therefore keep a watch on their incoming
e-mail. Normally no hard copy of the Sale Intimation Letter (on
Confirmed) will be issued by MSTC. In case the successful
Bidder pays the EMD/SD, but fails to pay the balance material value
alongwith applicable Duties and Taxes within the due date, then his
EMD/SD will stand automatically forfeited. If the last date of payment
happens to be the Bank/MSTC Holiday, the payment will be accepted on
the next day
b) Rate of EMD/SD : Post-Bid
EMD/SD will be @ 10% of the
Sale Value for Lots Sold on Confirmed basis
c) Post-Bid EMD/SD by way of
e-Payment in favour of MSTC LIMITED and mail should be forwarded to
MSTC regarding payment details. Post-Bid EMD/SD is adjustable towards
material value only after receipt
of the balance material value alongwith applicable Duties &
Taxes within the due date, failing which the Post-Bid EMD/SD will stand
automatically forfeited
4)PAYMENT OF BALANCE SALE VALUE WITH TAXES AND DUTIES: In
case of sold / confirmed lots the buyer will have to deposit balance
material value within 5 (Five)calendar days from the
date of Sale Order and in case of lot accepted on STA
basis the balance payment has to be made within 5 (Five) calendar days
from the date of
Sale Order, as per the following manners.
(i) Service Charge payment of the material value to be paid
in favour of MSTC
Limited, by way of E-PAYMENT/RTGS (DDS WILL NOT BE ACCEPTED) which is
using the E-PAYMENT
link provided in the www.mstcecommerce.com
website (The same has to be intimated by E-Mail to sroopn3@mstcindia.in,
rrashid@mstcindia.co.in
(ii)The Balance Material Value of the Material value for
accepted
lots or for STA lots, alongwith Applicable GST, on Gross material value
should be paid by way of RTGS/NEFT in f/o "LARSEN
AND TOUBRO" (DDS WILL NOT BE ACCEPTED.) Buyer should intimate the
payment details to sroopn3@mstcindia.in,
rrashid@mstcindia.co.in
It must be noted by the Bidders
that such Sale order/acceptance Letter will be issued by MSTC only for
the purpose of record and payment of balance sale value along with
taxes and duties must be made within the above specified time. If the
last date of
payment happens to be the Bank/MSTC Holiday, the payment will be
accepted on the next working day without late payment charge.
b) DEFAULT IN PAYMENT: In case of default in payment of the
balance Sale Value within the prescribed time limits, the due payment
may be made together with late payment charges @ 1% per week or part
thereof calculated on the remaining Sale Value for a maximum period of
two weeks. 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.
5) DELIVERY ORDER:On receipt of balance payment towards sale
value along with taxes and
duties, delivery order will be issued indicating the delivery period as
under : The period of delivery will be
30 calendar days counted from the date of Delivery Order.
If the last date of delivery happens
to be the closed Holiday for sellers, the delivery will be allowed on
the next day without ground rent. If
Buyer / Bidder deposits the payment favoring the Seller / Principal in
MSTCs Bank Account, it will be refunded back to Buyers / Bidders
Bank Account.
6) DEFAULT IN DELIVERY:
In case of delay in lifting beyond the above specified period, ground
rent @ 1% per week or part thereof upto a period of 2 weeks will be
charged by the seller in advance. In case the delay is beyond 2 weeks,
the seller will have the option to grant further extention, in
exceptional cases. with/without additional ground rent, depending upon
the circumstances for such delay or forfeit the entire amount at their
sole discretion.
NOTE:MSTC Ltd is mere an e-Auction Service Provider for the
seller who has the ownership and physical possession of the material.
Any dispute regarding quantity, quality and delivery of the materials
are to be represented to the Seller and not to MSTC LTD. Applicable
Taxes and Other charges at the time of Delivery to be borne by the buyer