NUVOCO VISTAS CORPORATION LIMITED

Nuvoco Vistas Corporation Limited, Jojobera Cemant Plant South Gate, Post Office Rahargora East
Singhbhum, Jharkhand, 831016

ONLINE AUCTION PLATFORM AND SUPPORT SERVICES PROVIDED BY MATEX NET

MatexNet Pvt. Ltd. is an authorized e-commerce service provider for NUVOCO VISTAS CORPORATION LIMITED
(Seller) to obtain rates online through its portal www.matexnet.com. The sale and purchase are directly
made by the Seller and Buyer/s (Bidder/s).

NUVOCO VISTAS CORPORATION LIMITED will sell Roller forged MS, E-WASTE, BATTERY 12 V, SCRAP ELECTRIC
MOTOR etc. available at Jamshedpur (Jharkhand) through Online Auction subject to terms and conditions
annexed hereto and as per schedule of programme given below.

SCHEDULE OF PROGRAMME

Mode of EMD Payment SmartPay / EMD With Client

(Refer Clause IV - Participation)

Auction ID MATEX2716-FRSO21

Till 03 Oct 2024 Between 10:00 AM to 04:00 PM

Inspection of Auction Property Except Sundays & Holidays

Nuvoco Vistas Corporation Limited Name Of

Premises/Building: Jojobera Cemant Plant
Road/Street: South Gate City/Town/Village: Post
Venue of Inspection Office Rahargora District: East Singhbhum State:
Jharkhand PIN Code: 831016 Mr. Pramod Pandey
8945530405

Last Date and Time to receive EMD Till 03 October 2024 on or before 11:45PM

Online Auction Date and Time 4th October 2024, Time : 4:00PM to 5:00PM

Arbitration Mumbai

Bid Validity 15 Working Days

Contract Validity 30 Working Days

Auction ID : MATEX2716-FRSO21 Page 1 Of 14

 MEMBERSHIP DETAILS

Membership Fee - Rs. 11,800 Per Year (inclusive of GST) payable through MatexNet Smart Pay (compulsory
for all participants)

CONTACT DETAILS

MATEXNET PRIVATE LIMITED

Registered Office: Branch Office: Kolkata

37/22, Chamiers Towers, 6th floor, Chamiers Road, Matex Net Pvt. Ltd
Teynampet, Chennai - 600018. Address: 50 Chowringhee Road, 4th floor, Block-B,
E-Mail: matex@matexnet.com Kolkata, West Bengal - 700071
Website: www.matexnet.com Phone:
CIN: U72900TN1995PTC136584 E-mail: kolkata@matexnet.com

Contact official/s at MatexNet Pvt. Ltd

# Name Mobile

1 Manoj. 7305081263

Auction ID : MATEX2716-FRSO21 Page 2 Of 14

 DETAILS OF AUCTION PROPERTY

Lot
Lot Description Qty UOM Bid Basis GST (%) TCS (%) PCB (Y/N) EMD Rs.
No

1 Tyre Roller center cast 60 MT MT 18 1 N 1,50,000

2 Roller forged MS 350 MT MT 18 1 N 5,00,000

3 E-WASTE 4 MT MT 18 1 N 5,000

4 BATTERY 12 V 100 Pcs. No. 18 1 N 10,000

5 SCRAP ELECTRIC MOTOR

100 Pcs. No. 18 1 N 15,000
Various RPM & V

SELLER TERMS & CONDITIONS

SPECIAL CONDITIONS

Note: Your offer should be for basic price only and taxes will be extra as applicable.

TERMS & CONDITIONS OF NU VISTA LIMITED

1) DESCRIPTION OF MATERIALS :

Material offered for disposals are listed in the Tender Forms.

PERIOD OF CONTRACT :
As per sale order.

1a) After issuing of scrap sale order customer will start lifting of materials.
1b H1 Bidder should make 100% payment on immediate basis.
2) RATE : The rate should be quoted as per the unit of measurement mentioned in the List and it is Ex- our
Works only ( exclusive of GST & TCS) All offers are understood to be on “AS IS WHERE IS BASIS” and successful
bidder will have to lift the materials with their own labour, tools and tackles, cranes and transport.
3) PAYMENT AND DELIVERY :
(a) Purchaser will have to pay full value of the material including GST & TCS etc as applicable and take delivery
from our Works within the stipulated time limit.
(b) The material will have to be lifted in total without sorting or any kind of leaving behind any portion of lot.
The company, however, reserves the right to retain any useful material mixed up with in the lot and detained at
the time of loading subsequently.
(c) In case of failure on the part of purchaser to make payment and complete the removal of material within the
time limit stipulated, the company will have the right to charge ground rent for the site at which the materials is
stored at the rate of ½% of the value of the material per day to dispose off such material in any other way at its
discretion and recover the losses caused if any due to such disposal item the Security Deposit / Earnest Money
Deposit or any other dues of the purchaser. In the event of the purchasers failure to pay for and lift the material
even after 2 days of receipt of written instruction the company shall terminate the contract forthwith and make
alternative arrangements for disposal of the material.

Auction ID : MATEX2716-FRSO21 Page 3 Of 14

 (d) Delivery of the material will be given only between 9.00 Hrs and 16.00 Hrs. on any working day of the
company.
(e) The labourers deployed for loading the scrap materials should be duly insured by a reputed insurance co. The
labourers should be provided with safety shoes, helmets & hand gloves. They have to undergo training at our
works.

(f) The truck comes for collection of scrap materials should possess the valid insurance coverage, fitness,
registration and other relevant documents. The driver should have a valid driving licence. The vehicle should
have a helper to assist the driver. The vehicle which enters in our plant should have reverse alarm, indicators,
head lights, rear view mirror, etc. as per our discretion. In case all these are not fulfilled, we will not allow the
vehicle inside the plant. Kindly ensure that the vehicle is in good condition and free from defects in all respect.
As per vehicle RC book capacity, weight will be allowed for loading.
5) RESELLING :
The purchaser will not be permitted to sell any part of the material in the company’s premises.
6) EARNEST MONEY:
An Earnest Money deposit shall be payable by Bank Draft along with the offer indicating the tender reference in
the offer. The contractor is also to submit xerox copies of the PAN number as well as the TIN no. The company
will be free to reject any offer, which does not bear the reference of the Earnest Money Deposit.
7) SECURITY DEPOSIT :
The successful bidder shall pay to the company a Security Deposit as decided by the company and sign a
contract for the purchases of material as per the terms & conditions mentioned here, within 7 days of receipt of
letter communicating the offer acceptance. The Security Deposit will not carry any interest and will be refunded
within 15 days after expiry of contract period, provided the purchaser has satisfactorily fulfilled all obligations
under the contract. This deposit is liable to be forfeited by the company in the event of termination of the
contract as provided in clause 7 above. If the material is not lifted appropriately, security deposit will be
forfeited.
9) FOREFEITURE OF EARNEST MONEY:
In case of failure on the part of the successful bidder to pay the Security deposit and sign the contract within
the stipulated time, the company reserves the right to forfeit the Earnest Money Deposit paid and make
alternative arrangement for disposal of the material. CONTRACTORS WHO HAVE EARLIER DEFAULTED IN LIFTING
OF SCRAP MATERIALS AND HAVE HAD THEIR SECURITY DEPOSITS FORFIETED WILL NOT BE ELIGIBLE TO
PARTICIPATE IN THE AUCTION
10) WEIGHMENT :
Weighment of materials recorded at our works will be considered as final and no dispute whatsoever will be
entertained.
11) INSPECTION:
The company reserves the right to inspect the material during the stage of collection ex our Works, during
weighment, as well as in the customer’s godown if necessary. In case the company finds that material of wrong
description has gone, the purchaser agrees to give full freedom to the company’s representative to take back
the wrong supply and face legal action for lifting of incorrect material.

12) CHOICE OF ACCEPTANCE:

The company reserves the right to reject any or all offers received, without assigning any reason whatsoever,
nor is the company bound to accept the highest offer.
13) MISCELLANEOUS :
If quoted rates are not found competitive your EMD will be refunded after deducting the DD charges.
Auction ID : MATEX2716-FRSO21 Page 4 Of 14
 14) Hydra & cutting accessories should be in the buyer’s scope.
15) All items to be sold in “as is where is basis”. The material qty. is an approximate and tolerance will be
considered: +/- 25%

Auction ID : MATEX2716-FRSO21 Page 5 Of 14

 TERMS & CONDITIONS OF THE ONLINE AUCTION

I. DEFINITIONS

1. SELLER: Seller referred in this catalog, is the Company selling the material.
2. SERVICE PROVIDER: MatexNet Pvt. Ltd (hereinafter referred to as “MatexNet”) is an e-commerce
service provider appointed by the Seller to facilitate virtual auction by the Seller. MatexNet will only
facilitate online auction and is considered as third party not particularly interested in the item/s being
sold on behalf of Seller.
3. BIDDER / BUYER: Any person - as an individual OR a proprietor OR a partner OR an authorized
representative of any company OR any legal entity and who is paying the requisite EMD and registered
at MatexNet and who makes or places a bid for and purchases the auction property either in part or in
full is considered as a Bidder. One individual can represent as a bidder on his own behalf and on behalf
of other companies provided, he registers himself in those capacities separately i.e., for each
representation he should pay separate Earnest Money Deposit. Successful Bidder is that Bidder in whose
name confirmation of sale is issued by the Seller. The Bidder understands that Matex Net is only a
facilitator and does not own the goods / services being auctioned. The Bidder will deal directly with
the Seller for the payments, deliveries, qualities of the goods / services being auctioned and will
adhere to all the terms & conditions as laid down by the Seller.
4. TIMING OF ONLINE BID: Time wherever mentioned in any document relating to the bidding event
including the auction catalog refers to Indian Standard Time (IST) i.e., UTC + 05.30 hrs. All the timings
of the Online Bid shall be based on the time indicated by the Server hosting the Auction Engine. It shall
be the endeavor of MatexNet to ensure that the Server Time reflects as closely as possible the Indian
Standard Time (IST) i.e., UTC + 05.30 hrs. However, in the event of any deviations between the Server
Time and the Indian Standard Time, the functioning of the Auction Engine (Start, operation, closure)
would be guided by the Server Time. Bidders are advised to refresh the page by clicking link provided
at the top right side of the Auction room to check the exact Server Time that is displayed there.

II. GENERAL TERMS & CONDITIONS

1. Subject to the reserve price, if any, fixed by the SELLER and subject to the terms and conditions set
out herein, sale shall be made to the HIGHEST BIDDER on “AS IS WHERE IS BASIS” and “NO COMPLAINT
BASIS.” The Seller does not undertake any responsibility to procure any permission/license etc. in
respect of the auction property offered for sale.
2. SELLER reserves the right to modify and amend the terms & conditions and announce the same at any
time before the auction concludes. Announcements during the auction on the website including
announcement of any additional conditions OR correction in the catalogue and/or additions or
deletions of items being offered for sale are being done with the consent and knowledge of the Seller,
and it is binding on the Bidder. Bidders are advised in their own interest not to leave auction room till
the entire auction is closed.
3. Participation and bidding in this Auction shall be treated as conclusive evidence of the fact that the
Bidder has inspected the Auction Property and the documents pertaining to it and is satisfied in all
respects regarding quantity, quality, condition of the Auction property, taxes, and other extraneous
factors and the Principle of Caveat Emptor (let the buyer beware) will apply. It shall also imply that
the Bidder has carefully gone through and understood the terms and conditions of Auction including
the amendments if any, prevailing at the time of Auction. Seller/MatexNet will not entertain any
Auction ID : MATEX2716-FRSO21 Page 6 Of 14
 complaints or objections once Bid is placed. Final decision regarding participation shall rest with the
Seller.
4. Seller/MatexNet does not give warranty or guarantee of the quality, quantity, measurement, condition
Chemical composition of each individual item/s or lot/s that form the auction property and about its
“End Use” or fitness for a particular purpose.
5. The highest Bidder does not get any right to demand acceptance of his offer. SELLER reserves the right
to accept/ reject/ cancel any bid, withdraw any portion of the Auction Property at any stage from
Auction even after acceptance of bid/ issue of delivery order or release order/ deposit of full value by
successful Bidder without assigning any reason thereof. In the event of such rejection/ cancellation/
withdrawal, SELLER, shall refund the value of Auction Property, if paid for, to the successful Bidder.
SELLER shall not be responsible for any damages/loss whatsoever to the successful Bidder on account
of such withdrawal.
6. EMD amount will not carry interest.
7. In the event of failure on the part of the successful Bidder to fulfill his contractual obligations, Seller
/ MatexNet reserves the right to debar such Bidder from participating in any future auction conducted
by MatexNet on behalf of Seller.
8. GST introduced by Government of India:
A. Bidders participating in MatexNet Auctions should verify with the selling companies about the
tax structure and ascertain themselves of the new tax rates and other statutes in place.
B. Any differential with the old structure shall be clarified by the Bidders directly with the selling
clients and MatexNet is not responsible for any form of misunderstanding or dispute arising out
of such differences. MatexNet is only a E Commerce Service Provider and has minimal
knowledge arising out of any changes in statutes that is promulgated by the Government from
time to time.
9. Wherever applicable, the below conditions will be applicable for Online Closed Bid event.

a) The Online Closed bid event will take place as per the schedule.
b) The bidders are free to revise their bids any number of times during this period. The latest bid
will overwrite and supersede all the previous bids. Only the latest bid will be considered.
c) Time extension will not be permitted.
d) For the purpose of deciding the successful bidder, only the highest bid placed in the Closed Bid
event, or the Online Auction will be considered.
e) Auto bid facility is not available for the closed bid event.
f) Bidders will be able to see only the bids placed by them.

10. Wherever applicable, the below conditions will apply for Group Bidding methodology.

a) For some lots, wherever applicable, Group Bidding methodology is being used in this event.
b) Under this methodology, the Bidders will have to place a consolidated bid for all the lots under
the specified group.
c) Bidding for individual lots under the specified group will not be permitted.
d) The bid placed by the Bidder will be distributed amongst all the lots under the specified group
based on its start price / highest bid & increment and the total bid value will be calculated
based on the UOM of the respective Item / Lot.
e) All the lots under the specified group will be awarded to the single highest approved Bidder at
the discretion of the seller.
f) Post approval, the entire EMD of that group will be transferred to the Seller.
g) The approved Bidder must lift all the lots under the specified group without any objection.
h) Failure to lift the lots under the specified group will result in forfeiture of EMD.
Auction ID : MATEX2716-FRSO21 Page 7 Of 14
11. Success Fee:

Wherever applicable, Success Fee on the basic sale value plus GST shall be paid to Matex Net by H1 / approved
Bidder(s) on confirmation of the bids by the Seller. This is for various services rendered to the Buyer(s) like
coordination, Fintech, Consulting & Logistic requirements, if any.

III. DISCLAIMER

1. MatexNet runs its business on the basis of a robust Web Site. MatexNet is outsourcing server space from
a third-party hosting company and hence shall ensure the smooth running in all good faith and
intention. However, MatexNet will not be held responsible for any failure of power, Network, server,
hosting server, Internet connectivity, ISP or otherwise at Bidder's end or at MatexNet directly or
indirectly affecting online method of Bidding.
2. MatexNet takes no responsibility of the quality, quantity, documentation details of Buyers/Sellers.
Both the Buyers & Sellers agree to defend, indemnify and hold MatexNet harmless, from any loss,
damage, cost and expenses caused by any reason during this transaction. In no event, shall MatexNet
be liable for any loss for the transactors by business, revenues, profit, costs direct and incidental,
consequential or punitive damages of any claim. Both the parties agree to have discussed all the related
matter regarding this transaction and have understood in full that MatexNet has provided a source of
supply and has nothing to do any further especially with regards to quality, warranty, guarantees,
delivery schedules, payments, rejections, transportation, legal laws and regulations to be followed
from time to time etc. Since MatexNet does not possess knowledge base of the commodities under
transaction both the parties agree that the matter contained in the materials as a part or as a whole
does not violate any applicable law. MatexNet is only an e-commerce service provider and is not and
cannot be a party to or control in any manner any transactions between the Seller and Bidder. MatexNet
shall neither be responsible nor liable to mediate or resolve any disputes or disagreements between
the Seller and Bidder.
3. The Seller/Bidder agrees to limit the liability of MatexNet to them for any and all claims, losses, costs,
damages of any nature whatsoever or claims expenses from any cause or causes, including attorneys’
fees and costs, so that the total aggregate liability of MatexNet to the Seller/Bidder shall not exceed
its total fee receivable from the Seller/Bidder. It is intended that this limitation apply to any and all
liability or cause of action however alleged or arising, unless otherwise prohibited by law.
4. Wherever images of the auction property are displayed, Bidders may note that MatexNet does not
represent or warrant that the images are accurate, complete, reliable, current or error-free even
though care has been taken to present them. They are only indicative in nature. Hence bidders are
advised to physically inspect the auction property before placing bids.

IV. PARTICIPATION

1. The prospective Bidders must register online with MatexNet using their e-mail ID, phone number & GST
number and upload self-attested copies of their PAN Card, valid GST registration certificate. The
Prospective Bidders, who have uploaded the prescribed documents once, need not upload the same
again.

2. For EMD Payment through SmartPay

a. The prospective Bidders will then be required to register their Bank Account by providing the details
such as Account number, Name of Bank, Name of Branch, IFSC Code etc. and upload a scanned
copy of a cancelled cheque in JPG, PNG, GIF OR PDF format. The file size for the cancelled cheque
Auction ID : MATEX2716-FRSO21 Page 8 Of 14
 shall not exceed 2MB. The name appearing in the cheque leaf shall match the name of the
prospective Bidder. Prospective Bidders can register multiple Bank accounts. For every account
they must upload the scanned copy of the cancelled cheque as explained above. MatexNet will
verify the account details provided with the details in the scanned copy of the cancelled cheque
and activate the Bank account registration. Bank account registration will not be activated by
MatexNet if the account details provided does not match with the details in the scanned copy of
the cancelled cheque uploaded. PROSPECTIVE BIDDERS WILL BE ABLE TO REMIT EMD ONLY AFTER
THEIR BANK ACCOUNT REGISTRATION IS ACTIVATED BY MATEXNET. Prospective Bidders who
register multiple bank accounts must choose one account as their Primary Bank Account. EMD
remitted by unsuccessful Bidders will be refunded to their Primary Bank Account only. Registration
of Bank account is compulsory and is a one-time activity.
b. The prospective Bidders after completing the bank registration processes as above must log into
www.matexnet.com and choose SmartPay and register for SmartPay.
c. Once the registration is done and SmartPay ID is created, a Virtual Account Number (unique to each
Bidder) will be generated.
d. The Bidders can then add the amount to the Virtual Account Number, which will be credited to
their SmartPay account.
e. Upon successful transfer of money to the SmartPay, the Bidder can select the appropriate auction
and then the lots for which they intend to place the bids. Once the auction and lots are chosen,
they will have the option to pay using SmartPay.
f. If once SmartPay is used for paying EMD for any lot in a particular auction, then the EMD for other
lots in that auction need also to be paid through SmartPay mode only. (Bidders will not be able to
choose any other mode of payment other than SmartPay for that particular auction. Also, if Bidders
use any other mode of payment initially, then they will not get be able to use SmartPay to make
payment for other Lots for that auction).
g. Bidders/Seller may note that any payments made online towards EMD/Security Deposit or other
purposes received by MatexNet on behalf of Seller shall be handled in good faith and intention.
However, MatexNet shall not be responsible for non-receipt or delayed receipt of EMD into its
account leading to non-activation of User ID for placing bids. Matex Net shall either refund the
EMD to the successful Bidder or transfer the same to the Seller to be retained by them in the form
of EMD/Security Deposit to secure the performance of the agreement between the Seller and the
Bidder.
h. Smart Pay Usage Charges:
1) Smart Pay usage charges would be applicable for the auctions depending upon the
number of lots selected.
2) These charges would be in addition to the EMD being paid for participation.
3) These charges are non-refundable.
4) Smart Pay Usage Charges are applied for rendering the services including balance top-
up, wallet usage, handling charges, etc.

3. For EMD submission & Payment at Client

If EMD is payable by way of physical DD/PO:

o Demand Draft/Pay order issued by any Scheduled Bank / Nationalized Bank / Scheduled Co-
operative Bank in favor of the Seller Company Name payable at Seller location.

o Submission of EMD DD at Matex Net’s branches is NOT permissible.

If EMD is payable by way of NEFT / RTGS to the Client’s Account:

Auction ID : MATEX2716-FRSO21 Page 9 Of 14
 o Refer to the NEFT/RTGS details of the Client in Seller / Special Terms page.

4. On completion of the registration process and payment of prescribed EMD as outlined above,
Seller/MatexNet will activate the User – Identity to enter into the virtual auction room of the website
www.matexnet.com

Prospective Bidders may please note the following:

a. Failure to register online and upload the prescribed documents will lead to non-activation of the
User ID even if the prescribed EMD has been remitted.

b. For any auction, a Bidder acting as an individual or as proprietor of various firms registered under
different user ID and having the same PAN will be allowed to participate under one user ID only,
unless otherwise permitted by the Seller in writing.

c. If payment is made for any PCB / CPCB Lots, MatexNet will activate the User ID for that lot/s only
after successful verification of necessary PCB documents which are to be uploaded by the Bidder
before the prescribed date & time.

5. Refund of EMD:

a. For EMDs remitted through SmartPay, the unsuccessful Bidders EMD will be credited back to their
SmartPay account only.
b. Bidders will have the option of withdrawing the money from their SmartPay balance only after 48
hours (during bank working days & hours) of transferring the funds to their SmartPay.
c. This period of 48 hours may get extended due to any unforeseen circumstances. Matex Net cannot
be held liable for any such extensions due to extraneous factors including claims for interest
payments.
d. EMD withdrawal request made by the Bidders will be refunded to their Primary Bank Account
registered with MatexNet only.
e. EMD on Hold (remitted by successful Bidder or as specified by Seller) will be processed on receipt
of Bid Approval by the Seller and the Seller shall then process applicable refund of the EMD to the
successful Bidder in accordance with the agreement between the Seller and Bidder.
f. In case the Seller does not communicate their decision on the bids received on or before the Bid
Validity Date, MatexNet will be entitled to refund the EMD, if the EMD has been submitted through
Smart Pay.
g. The unsuccessful Bidders have to collect the EMD from the Seller, if it has been submitted to the
Seller.

6. Password and Security - After intending Bidders register with MatexNet on the website, they will be
allotted a unique user identification (User ID) by MatexNet, and they will be prompted to set a
password. This is the login password. The login password is a string of characters (combination of alpha,
numeric & special characters) used to authenticate the identity and provide access to various resources
on the website. The length of the login password has to be a minimum of eight characters and has to
be a combination of alpha and numeric characters. Special characters can also be included to
strengthen the login password. However, the following special characters ~, ., /, ?, <, >, : , ; , \ ' , \ "
, +, =, _, -, ^ are not allowed and will be ignored. Bidders are solely responsible for all use and for
maintaining and protecting the confidentiality of their User ID and password.

Auction ID : MATEX2716-FRSO21 Page 10 Of 14

 7. Forgot Password - In Case Bidders forget the login password, the only way they can change their login
password is by clicking on the “Lost Password” link on the homepage of the website. Bidders will
receive a verification code on their registered e-mail address and their registered mobile phone. Using
the verification code Bidders can change their login password. The e-mail carrying the verification
code will also contain a link. Bidders can also change their login password by clicking on the link that
will directly take them to the change password page. Bidders are advised to check their spam / junk
mail to check for the e-mail carrying the verification code. MatexNet will not be responsible for non-
receipt of SMS/e-mail carrying the verification code. Bidders are advised in their own interest to login
and check to ensure that their credentials are valid before the auction starts to avoid complications in
the last minute. Bidders reporting loss of access to their registered mobile phone & their registered e-
mail may please note that their request for resetting their login password will be done only after
receipt of a written request along with the full set of documents. Resetting of login password will be
done after verification of the documents submitted and will take at least two working days. Bidders
SHOULD NOT disclose their PASSWORD to anyone and safeguard its secrecy. Bidders are advised to
change the Password.

8. Transaction Password - To have an additional layer of security, Bidders have to authenticate their
entry into the virtual auction room using their transaction password. Only then they will be able to
place their bids. Bidders can set their transaction password and have to confirm the same with the
OTP that will be sent to their registered mobile number and their registered e-mail ID. Transaction
password is session specific.

9. Multiple Log in from same IP Address – Bidders participating in the auctions may please note that
multiple logins from the same IP Address will not be permitted.

V. CONDITIONS APPLICABLE TO “ONLINE” AUCTION METHOD OF BIDDING

1. Validity: The Online auction Bidders must keep their bids valid till the bid validity period from the
date of closing of e-Auction excluding the date of closing. In case the bid validity day falls on a holiday
or remains closed for the Seller, such Bids will be deemed to be automatically extended to be valid up
to the next working day of Seller.
2. Time Extension: If any valid bid is received within the last 3 minutes (“Time Extension” as mentioned
in the Bidding Room will be in force & 3 Minutes is an example) of closing time, the time will be
extended automatically by 3 minutes. Bidders are advised to look for the number of extensions left in
the virtual auction room in cases where the number of time extensions are restricted.
3. Training: MatexNet will provide training (online) if required by the Bidders at a mutually convenient
date and time before the Auction.
4. By default, the system will not permit the Bidders to increase/decrease (FA/RA) bids beyond a
maximum of five times the prescribed bid increment/decrement. However, this limitation can change
and hence Bidders are advised to contact MatexNet to ascertain about this feature before placing bids.
5. By default, the system will set up the next bid value (current highest/lowest bid value plus or minus
the prescribed minimum increment/decrement). Bidders can use the + or – symbol in the bid box to
increase/decrease the bid values. The Bidders can override this feature to place their bids manually
as well. All bid values in figures will be displayed with a comma separator as per International Standards
and all bid values in words will be displayed as per Indian system for numbers.
6. Bids: All bids placed are legally valid bids and are to be considered as bids from the Bidder himself.
Once the bid is placed, the Bidders cannot reduce or withdraw the bid for whatever reason. If done
Auction ID : MATEX2716-FRSO21 Page 11 Of 14
 so, the Seller will forfeit the EMD. The highest and the latest bid on the Auction shall supersede all the
previous bids of the Bidder. Bidders may please note that in the event of a manual bid amount matching
that of an auto bid, the manual bid will prevail and be considered. The Bidder with the highest offer/
bid does not get any right to demand acceptance of his Bid.
7. For deciding the successful Bidder, only the highest bid placed in the Closed Bid event or the Online
Auction will be considered. In the event of a tie (highest offer received in the online closed bid
matching the highest bid received in the e-auction), Seller will decide the successful Bidder. No
complaints in this regard will be entertained.
8. Auto Bid: Auto Bid facility is provided for Bidders intending to place a maximum value for a lot/lots.
9. Auto Bid: Auto bid is not a confirmed bid. It is only the maximum ceiling amount set by the Bidder to
enable the auction engine to place bids on his behalf, whenever he is out bided, up to the ceiling set
by him.
10. Auto Bid: Once auto bid is set, the auction engine will consider the ceiling amount for the next possible
Bid only, depending on the highest bid prevailing at that point of time and the increment / decrement
amount prescribed for that particular lot. However, Auto Bid cannot be set for amounts less than two
increments / decrements to the highest/lowest bid prevailing at that point of time.
11. Auto Bid: Bidders may please note that in the event of a manual bid amount matching that of auto
bid, the manual bid will prevail and be considered.
12. Bidders may please note that the virtual auction room will normally refresh automatically in every 10
seconds. It can also be refreshed manually by clicking on the link provided therein. In case of any
difficulty to refresh the window, Bidders are advised to clear browsing history, download history,
cookies and other site and plugin data, cached images and files etc. from their browser. Bidders may
also contact MatexNet officials whose contact details are provided herein.

VI. CONTRACT VALIDITY

1. The contract is valid till the contract validity period.

VII. PAYMENT

1. All payments towards the sale of material shall be made in the form of Demand Draft/Pay order issued
by any Scheduled / Nationalized Bank / Scheduled Co-operative Banks in favor of the Seller or by
RTGS/NEFT as may be advised by Seller from time to time. If the successful Bidders are required to
remit the sale proceeds by RTGS/NEFT, Seller / MatexNet will provide the Bank account details of
Seller.
2. On receipt of sale confirmation, Successful Bidder/s shall deposit 100% value of the material for the
respective lot/s inclusive of the applicable taxes, if any, (calculated as per the bid/s placed and
approved by the Seller) before collecting the sale order OR as may be directed by the Seller (please
refer other conditions wherever applicable). EMD/Security Deposit collected will be refunded in full
by the Seller to the successful Bidder after the lifting of the material and completion of the contract.
3. Unless otherwise specified elsewhere in this catalogue, Bids placed/Rates offered are for the basic
price only and are exclusive of all applicable taxes like GST, IT, TCS etc. Taxes will be in addition to
the basic price and will be added at rates applicable at the time of delivery.
4. In the event of default or delay in making the payment or not complying with any of the terms
mentioned herein by the Successful Bidder, the contract will stand terminated automatically and the
security deposit will stand forfeited.

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VIII. DELIVERY

1. On receipt of full Sale Value along with applicable Taxes/TCS & other charges by the Seller, the Seller
will issue final Sale/ Delivery / Release Order to the Buyer thereby enabling him to lift the materials
within the period as may be prescribed by Seller from time to time.
2. Lifting of materials will be allowed only as per Seller’s instructions. Successful Bidders are advised to
contact the concerned officials of Seller for exact timings in order to ensure that the material
clearance is as per their instructions. Neat and clean maintenance of the stockyard from where the
material is lifted is the responsibility of the successful Bidder. In the event of non-adherence to the
above by the successful Bidder, Seller will reserve its rights to impose penalties/forfeiture of EMD.
Weight recorded at the Seller’s premises shall prevail.
3. In case the Seller is unable to deliver the goods within the specified time due to unforeseen
administrative reasons, then the Seller shall grant suitable extension of delivery period to the Buyer
without any penalties till the expiry of such extended period. In such eventuality, however, the Buyer
shall not be entitled to claim any compensation for such delay.
4. If the goods sold or portion thereof remain un-cleared in the premises of the Seller beyond the
stipulated period, the sales proceeds of the un-lifted assets shall be forfeited and the un-lifted portion
of the assets may be removed at the risk and cost of the Buyer and the Buyer will have no claim
whatsoever on the goods remaining uncleared and the amount paid to Seller will stand forfeited. Seller
shall have right to dispose of such goods in any manner they like. The Buyer shall have no right
whatsoever for any compensation on this account.
5. While taking delivery of the material, it will be at the discretion of the Seller or its authorized
representative to direct the manner / order in which the materials or lots shall be removed. No
segregation of the items of any lot is allowed inside the Seller’s premises.
6. Breaking/ cutting may be allowed to the extent necessary for facilitating loading into vehicles as per
the discretion of the Seller. No gas cutting equipment or any equipment, which is likely to cause
damage, will be allowed in the premises. Only safe oxy-acetylene gas cutting equipment will be
allowed with permission of Seller. The decision of the Seller or his authorized representative shall be
final in this regard.
7. The Buyer shall arrange for all tools and tackles, forklifts and hoists or cranes or labour at their own
expense. The Buyer will make his own arrangement for dismantling, removal, lifting, loading and
transporting of the material from the Seller’s premises and he will not claim any sort of assistance or
charges whatsoever from the Seller.
8. It will be the successful buyer’s responsibility to weigh the empty truck at the weighbridge and produce
the weight certificate so that the weight of the empty truck will be deducted from the weight of the
fully loaded truck.
9. Should the original buyer wish to take delivery of the surplus material through a representative, he
must authorize the latter by a letter of authority or continuing authority, which shall be presented to
the Seller. The Seller may in his entire discretion decline to act on any such authority and it shall be
for the buyer to satisfy the Seller that the authority is genuine. Delivery to such authorized person will
constitute valid delivery and no claim shall lie against the Seller on any account thereafter.
10. Once the goods / materials are taken out of the factory gate, the buyer will be solely responsible for
all sorts of claims like shortage, missing parts, damage, incident, accident, loss of material etc.
11. Resale will not be recognized. The buyer shall not be entitled to resell any lot or part of a lot while
goods are still lying within the premises of the Seller and no delivery would be affected by the Seller
to any person other than the Buyer whose names are mentioned in the sale order/Delivery order.
12. Buyer and his men are subject to the security rule of the Seller in force while in the Seller’s premises.
The buyer/s, their workmen agents or representatives shall not commit any nuisance, theft or indulge
Auction ID : MATEX2716-FRSO21 Page 13 Of 14
 in any antisocial activities in the Seller’s premises and the buyer shall be liable for the good conduct,
safety & discipline of his workmen. In case of any such activity, delivery will be suspended and strict
action as per law will be taken including forfeiture of EMD.
13. While taking delivery of the material, the Buyers shall be responsible for any damage that may be done
to premises / fittings of the SELLER in the course of removing the lot or lots purchased by them. The
SELLER may at its option arrange to make good such damages and the buyer shall pay for the same on
demand. If such payment is not made on demand, the SELLER may forfeit the EMD/Security Deposit or
may stop delivery of the material till payment is made.
14. SELLER will not at any time be responsible for any injuries caused due to accident within its premises
either to the Buyer or his representative / labour etc., and the Buyer will make proper arrangements
for any claim arising out of the employment under any statute. It is the responsibility of the Buyer to
provide necessary safety appliances (like hand gloves / safety shoes etc.,) to the labourers, who are
engaged for loading the materials.
15. If any accident or damage to the property / life etc. arises by reason of any act of negligence / omission
/ default or non-compliance with any of the Terms & Conditions or statutory regulations or rules and
regulations applicable within the Seller’s premises, on the part of the Buyer / his representative or
employees, resulting in death or injury to any persons or damages to the property of the SELLER or any
third party, then in such an event the Buyer will have to pay compensation to such person including
the employees of the SELLER for such accident or injury / death or damage caused to their employees
or to any of the Seller’s employees or to others or to the Seller’s property. The Buyer shall in such
event, keep the SELLER fully indemnified from any demand, claims or proceedings thereof.
16. The Buyer shall be responsible for ensuring compliances with all Central and State laws as well as the
rules, regulations, bye- laws/notifications and orders of the local authorities and statutory bodies as
may be in force from time to time. Buyers must comply with all statutory obligations like Labor License,
Workman Compensation policy, ESIC, PF etc., whichever is applicable.

IX. DISPUTES / ARBITRATION

1. In case of any dispute arising out of or relating to the terms of the sale order the matter shall be
referred to one arbitrator appointed by Seller. The arbitrator shall act in accordance with the
provisions of Arbitration and Conciliation Act, 1996. The venue of arbitration shall be at the location
of the Seller.
2. Disputes between Seller & bidder if any shall be within the jurisdiction of the courts at the location of
the Seller.
3. In the event of any dispute with regard to not taking possession / non-availability of inspected Auction
Property etc. and forfeiture of 'EMD', MatexNet will not be held responsible for the loss / forfeiture.

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