Terms & conditions
Participation, inspection, bid validity and earnest money deposit
A / REGISTRATION, INSPECTION AND BID CONDUCT
01 Registration and eligibility. Bidders must complete this form and submit it with the prescribed participation EMD and self-attested supporting documents before the announced deadline. Portal registration and verification of documents / payment are required before auction access is activated.
02 Inspection and acceptance. Participation is conclusive evidence that the bidder has inspected, or has had the opportunity to inspect, the property and relevant documents and is satisfied about the quantity, quality, condition, taxes, duties and other relevant matters. The principle of caveat emptor (buyer beware) applies.
03 Sale condition. The material is offered on an “AS IS WHERE IS” and “NO COMPLAINT” basis. No complaint, objection or dispute relating to the material’s condition, quantity or other inspected aspects will be entertained after conclusion of the event, subject to applicable law.
04 Bidding method and taxes. Bidding is for the whole lot only; bids are exclusive of GST. The declared 18% GST and other applicable statutory taxes / levies, if any, are payable in addition to the accepted bid amount.
05 Bid validity and withdrawal. Bids of H1, H2 and H3 shall remain valid for 20 days. A bidder may not withdraw, modify or challenge an offer after submission on grounds of misdescription, error, defect or otherwise, as provided in the reference terms.
B / EMD HOLDING, REFUNDS AND TOP-UP
06 Handling of participation EMD. On approval, the participation EMD may be held and adjusted or transferred to the seller at the time of final lifting. No interest is payable on EMD amounts.
07 Unsuccessful bidders. EMD of bidders other than the relevant highest / reserve-ranked bidders will be returned within 7 working days after completion of the bidding event, in accordance with the reference conditions.
08 H2 / H3 status. The H2 bidder’s EMD may be retained for 15 working days and the bidder may be asked to proceed at its bid amount within that period. If H2 does not honour the bid, its EMD may be forfeited under the reference terms and H3 may be approached.
09 H1 EMD top-up. The successful highest bidder is required to bring the total EMD to 10% of the bid value within 2 days of the auction. Failure may result in disqualification and forfeiture of the participation security, as provided in the reference conditions.
AUCTION CONDITIONS / 2 OF 2
Terms & conditions
Seller discretion, payment, delivery and liability provisions
C / SELLER DECISION AND DELIVERY
10 No warranty. The seller gives no guarantee about the goods’ quality, quantity, measurement, condition, chemical composition, end use or fitness for a purpose. Buyers must make their own assessment.
11 Acceptance at seller discretion. The highest bid carries no automatic right of acceptance. The seller, in consultation with the insurer, may accept, reject, cancel or withdraw any bid or part of the auction property, including after a delivery or release order or receipt of payment. In the event of complete cancellation / withdrawal, the seller will refund the applicable property value received without liability for further losses or damages, as stated in the reference terms.
12 Sale order and final payment. A sale order is issued to H1 only after seller approval. After receipt of approval or payment instructions, H1 must pay the balance consideration and applicable taxes within 5 working days; failing this, EMD may be forfeited.
13 Lifting and delivery. The full consignment must be lifted within 10 working days of the work order, or within a period mutually agreed by the seller. Lifting order and sequence shall follow seller instructions. All loading, handling, removal and transport arrangements and costs belong to the purchaser.
14 Late lifting and safety. Delay in removal may attract demurrage of ₹5,000 per day until full clearance, unless otherwise agreed by the seller in consultation with the insurers / surveyors. Purchasers must comply with site safety requirements and seller instructions.
15 Authorised representative. Delivery through an agent requires a signed authority letter; the seller may decline to release to a person other than the buyer. Delivery records, gate passes and challans will normally remain in the purchaser’s name. Risks associated with authorised collection are governed by the reference terms.
D / BREACH, COMMUNICATIONS AND LEGAL PROVISIONS
16 Default and remedies. Breach of payment or lifting obligations may cause cancellation, EMD forfeiture and disqualification from future auctions. The seller may pursue other remedies contemplated in the sale documents and applicable law.
17 Technical interruption. Maxsure Bidders Pvt Ltd may restart the auction in the event of portal, server, IT or other technical failure.
18 Communications. Notices sent by post or email to the contact details supplied by a bidder will be treated as received under the reference conditions. Bidders must provide accurate and current details.
19 Auctioneer, surveyor and insurer. Maxsure Bidders Pvt Ltd operates the auction platform and is not the seller. The auctioneer, surveyor and insurer do not accept seller obligations relating to the material, its quality / quantity, documentation, delivery or related commercial outcomes, subject to applicable law. The underlying sale is between seller and buyer.
20 Jurisdiction. The supplied reference conditions provide for exclusive jurisdiction of the Delhi courts.
*This is an estimate, and final fees may vary depending on lot details. All bids are final.
