BUYER SPECIFIC TERMS & CONDITIONS (BSTC)

1.0 INTERPRETATION
1.1 MSTC Ltd. shall be hereinafter referred to as "MSTC" or Administrator and the participating parties or
individuals shall be hereinafter referred to as "Bidders", the successful bidder shall hereinafter be referred to
as the buyer or purchaser. The organization on whose behalf MSTC will conduct auction as their Selling
Agent shall be referred to as the principal who is otherwise the owner and stock holder of materials to be
sold.
1.2 The general terms & conditions (hereinafter referred to as the GTC) are common for all auctions and are in
addition to Special Terms & Conditions (hereinafter referred to as the STC), if any, for any particular
auction and shall form an integral part of the auction and so far as it has not been altered or modified by the
STC. In case of any conflict or difference between any provision of the GTC and STC, the provision of
STC will prevail for that particular auction.
1.3 If any account is deactivated for non-compliance of any terms & conditions of e-auction, then the
registration fees for that account will stand forfeited. In case the same party wants to re-register itself, it
shall be required to pay a penalty to be decided by MSTC Management. However, the acceptance of such
re-registration fees shall be at the sole and absolute discretion of MSTC.

TRADEMARKS AND COPYRIGHTS

The bidder acknowledges and agrees that wherever applicable, the content, including but not limited to text,
software, music, sound, photographs, graphics, video, or other material contained in Website, including
advertisements or information is protected by domestic and international copyrights, trademarks, service marks,
patents, or other proprietary rights and laws. The bidder is permitted to utilize this material and information only for
personal use, and shall not copy, reproduce, transmit, distribute, or create derivative works of such content or
information without express authorization. MSTC shall not be held liable for any misuse or infringement of any
trademark or copyright by the bidder, and the bidder shall be solely liable for any damages, claims, actions, etc. for
infringement or violation of the same. MSTC reserves the right at its sole discretion to terminate the access of the
bidder to the Website, if the bidder violates the provisions of this clause.

ARBITRATION

Any dispute or difference arising between the seller, MSTC and the bidder/buyer in connection with the
interpretation or implementation of the terms and conditions shall be referred to a Sole Arbitrator to be appointed by
the Chairman-cum-Managing Director, MSTC Limited, Kolkata on reference by any of the parties. The provisions
of the Arbitration and Conciliation Act, 1996, as amended, shall apply to such arbitration. The place where the
concerned office of MSTC conducting the e-auction is situating shall be the venue of such arbitration proceedings

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and the language of such arbitration shall be English. The award of such Sole Arbitrator shall be final and binding
on the parties.

JURISDICTION

Subject to the arbitration clause as above, Courts at the place where the concerned office of MSTC conducting the e-
auction/e-procurement is situate alone shall have exclusive jurisdiction in all matters arising out of or in connection
with the e-auction/e-procurement

BIDDING AND BUYING

All bids on the Site are a firm commitment to purchase. If you are the highest bidder at the end of an auction
(meeting the applicable minimum bid or reserve requirements) and your bid is accepted by the seller, you are
obligated to complete the transaction with the seller. Bids may be increased in price or volume later but may not be
withdrawn. Bids cannot be cancelled. All bids must be in Indian Rupees only.

By bidding on an item you agree to be bound by the conditions of sale included in the item’s description (or linked
to form the description) so long as those conditions of sale are not in violation of this Agreement or unlawful. In
case of consumer good, sellers on the Site may or may not specify the retail prices of the items being sold. You are
advised to independently verify the retail prices of such items if you so desire.

MSTC strongly advises you not to test the auction process with false bids, as it will put you at substantial personal
legal risk. It is a crime to use a false name, other false personal information or known invalid credit card to bid.
Willfully entering erroneous or fictitious bids may result in prosecution by MSTC.

In the event of Dual Winners displayed online for a Single Auction, the bidder who has received by Winning Email
will be rightful Winner, and beyond that there is not liability.

PRIORITY IN BIDDING

In Order to qualify and be identified as a successful bid, the following priority parameters will be follows:

The higher price bids always supersede the lower price

(a) Price
bids.
(b) Time Between bids of the same price, the bid, which was
placed prior in point of time, shall supersede

MSTC’s decision on the success or otherwise of a bid shall be final and binding. It reserves the right to reject or void
bids, whether winning or not, that it deems not to have been made in good faith, or that are restricted or prohibited.

FORCE MAJEURE

MSTC/Owner shall not be liable for any failure or delay in performance due to any reason / cause beyond their
control including fires, floods, go-slow, lock-out, closure, pestilence, dispute with staff, dislocation of normal
working conditions, war, riots, epidemics, political upheavals, government action, civil commotion, breakdown of
machinery including technical failures, shortage of labour, acts demands or otherwise or any other cause or
conditions beyond the control of aforesaid cause or not and the existence of such cause or consequence may operate
at the sole discretion of MSTC / Owner to extend the time of performance on the part of MSTC / Owner by such
period as may be necessary to be necessary to enable MSTC/Owner to effect performance after the cause of delay

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will have cause exist. The provisions aforesaid shall not be limited or abrogated by any other terms of the contract
whether printed or written.

2.0 MODE/ PROCEDURE OF PAYMENT IN e-AUCTION

2.1 All intending bidders and buyers for participating in E-Auction will have to register on line. All
intending bidders and buyers should fill in the relevant details all on line and pay non-refundable
registration fee of Rs.10,000/- off line
2.2 On completion of details as per registration format and payment of registration fee, all such bidders will
be able to access the auction floor with the the user id and password they have chosen at the time
of registration. Such bidders will henceforth be called as “registered bidders”.
2.3 None other than the registered bidders will have any access to the details of the auction.
2.4 The auction notification mentioning the starting date, list of materials, location of materials, and name of
principal or owner will however, be available on our web-site for all Internet users.
2.5 The details of the auction will be hyper-linked to the unique auction number for each individual auction.
The registered bidder can enter into the details which will be as follows :-

a) Opening and closing date and time

b) Name and location [address] of the principal of the owner of the material
c) Brief description of the materials with its location and approximate quantity put up for sale.
d) Period of inspection.
3.0 AUCTION FLOOR
3.1 After selecting the desired auction, all users can finally arrive at the auction floor containing list of items,
quantity, unit of measurement and column for bidding.
a) Each item name of the materials will be hyper-linked to details of the items.
The following information will be present in the auction floor: -
3.2
 Opening date and time
 Closing date and time
 Item number
 Item name, hyper-linked to relevant details containing duties etc./ special terms of lifting etc.
 Quantity and unit of measurement
 Location of material/item
 Last bid or basic price, if any.
 Your bid in Rs./UOM
 Bid history

3.3 The closing time of an auction shall automatically be extended by 5 minutes for all Coal auctions and by
8 minutes for all other auctions if bid continues (e.g. in case the closing time is 5-30 p.m. of any
particular date and if any bidder bids at 5.29 p.m. then the closing time will be automatically extended
to 5-37 p.m. in case of auctions other than Coal Similarly, if any bidder again bid at 5-36 p.m. then the
closing time will automatically be extended to 5-44 p.m. in case of auctions other than Coal and so on ).
3.4 A bid once given cannot be retracted.
3.5 AUTOMATIC/PROXY BIDDING
Each bidder will have the option to declare his maximum value of bid (which cannot be viewed by any
bidder ) up-to which his automatic bidding will continue. This maximum value of the bid / increment
value may be enhanced by the bidder at any time before the closing of the auction. In case there is a tie in
the highest bid offered by someone else with the maximum value opted by a automatic / proxy bidder
then the bid of the automatic / proxy bidder will be acknowledged as H1 bidder and a flash would appear
to inform the bidder other than the automatic / proxy bidder that there is a tie and he may bid a higher
amount.

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4.0 The respective items will be marked "sold" after closing of the auction when the highest bid is greater
than the reserve price and automatically intimation to the concerned buyer will be sent on line for
making payment as detailed in the subsequent paras.
4.1 Only STA will appear against a lot after closing of the auction for which final approval will be intimated
separately. STA marking will only appear when the price fetched as the highest bid in the auction is
below the reserve price up-to a certain percentage, as indicated by the principal before the starting of
auction.
4.2 A lot or item can be withdrawn from the auction before starting of the auction as well as during the
auction without assigning any reason.
5.0 PAYMENT FOR ACCEPTED BIDS
5.1 All payments are to be made physically i.e. either by Demand Draft/Pay Order/Banker's Cheque etc. and
will be accepted in any of the offices (Branch/Region/Hqs. ) of MSTC.
5.2 The bid value together with all taxes as applicable shall have to be paid by the successful bidder by
Demand Draft/Pay Order/Banker's Cheque drawn as stipulated in the relevant provision of special terms
& conditions. The payment can be staggered being opted by the buyer for which buyers are requested to
see the payment schedule in ‘STC’.
d) Notwithstanding anything continued in STC the buyer will have option to make full payments in all
respect within the period of 1st installment.
e) The sale value including all taxes if not paid within the above time limits, it shall be paid within such
time limit as may be extended by the principal or MSTC in consultation with principals, together with
ground rent. Such ground rent shall be charged for a minimum period of one week or multiple thereof @
1% of the value of materials for a week or part thereof.
f) The sale value, as well taxes, Excise duty plus any other levies as applicable and payable by DD/PO will
have to be deposited with the authority as specifically mentioned in the relevant clauses of Special Terms
& Conditions.
5.3 In case of payment made by Bank Draft/Pay Order, the same will have to be deposited with the
appropriate authority within the stipulated time/extended time. In the event of any default thereof, the
successful bidder shall be liable to pay additional amount by way of ground rent as mentioned above.
Should however the buyer fail to make the requisite payment within the time / extended time
stipulated, the sale relating to such lot can be cancelled at the discretion of MSTC and the registration
money given by the bidder shall be forfeited in full and MSTC shall, in addition, to registration money,
be entitled to recover any incidental / consequential loss suffered by it as a result of such failure. The
authority shall not be bound to give any notice to the buyer for the said forfeiture.
5.4 Delivery order or permission to remove the goods will be issued by MSTC or even by principal
themselves or as has been indicated in relevant clauses of STC, after all payments of installments value
or sale value including duties, taxes and levies are made in full by the buyer.
6.0 SALE OF LOTS/ITEMS ON SUBJECT TO APPROVAL BASIS
6.1 In case of lots where bids have been kept open for the decision by the higher authority of the principal or
owner of the material at a later date, the buyer will have to pay the earnest money @ 10% of the sale
value plus applicable taxes and duties within 3 working days from the next date of the closure of
auction. On final approval, the payment of balance sale value will have to be made in the same
procedure as at clauses 5.2 (a) to (f). The date of acceptance of bid will be the date on which the
principal/MSTC sends the acceptance message to the buyer. In the event of payment on accepted bids
not being completed within the time specified, the earnest money in addition to the registration fee shall
be forfeited without any further notice to the buyer. For delay in making payment, the ground rent as
mentioned at para-5.2 (e) will apply. In case the earnest money as mentioned above are not deposited
within the time specified, the registration fee will be forfeited without any further notice, where the bids
are not accepted finally, the earnest money deposit by the bidder shall be refunded to the buyer.
7.0 CONDITION OF GOODS
7.1 The goods are sold as and where they lie, on as is where are basis; the whole of the lot/lots shall be taken
from the site of accumulation with all faults and errors in description. Otherwise the quantities, qualities,
size or sizes, measurement, numbers and weights as stated in the auction floor and or in any delivery
documents are only approximate and no guarantee or guarantees shall be implied. The goods are sold on
the specific assumption that whether the bidders have inspected the lots or not the principle of Caveat-
emptor will apply. No complaint will be entertained after sale.

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7.2 Quantities made in the lot are approximate and MSTC holds out no warranty as regards the quantity and
fitness of the goods for any particular purpose. The value paid in auction for the approximate quantity.
Proportionate value for the quantity falling short in a lot at the time of delivery will be refunded to the
buyer. Any quantity found excess in a lot over the approximate quantity mentioned in the auction floor
will have to be taken by the buyer after depositing the proportionate amount along with the final
installment. In the event the materials are found in excess of the materials, specified in the sale order, the
buyer will be allowed to deposit the balance amount within 10 days from the date of the incident of the
removal as mentioned in the sale order, failing which, the buyer shall deposit such balance value with
ground rent at the same rate mentioned in previous para per week or part thereof.
8.0 RISK
8.1 The goods shall be and remain in every respect at the risk of the buyer from the date of acceptance of his
offer by the principal who shall have no liability whatsoever for the safe-custody or preservation thereof.
9.0 DELIVERY
9.1 Delivery Order or Sale Order or Delivery-cum-Sale Order will be issued automatically on line at the
instance of any competent officer of MSTC or principal on confirmation of payment of full material
value as per clause 5.0 and subsequent sub-clauses. The full sale value means payment of material value,
duties & local taxes and any other levies under the above mentioned clauses.
9.2 The goods are to be completely removed by the buyer from the site of accumulation within the time
specified in the Delivery Order/Sale Order/Delivery-cum-Sale Order. However, the delivery will be
made during working hours on all working days on presentation of the aforesaid order to the custodian of
the materials of the principal concerned.
9.3 The buyer will make his own arrangement for loading & transport and will not be entitled to claim any
facilities or assistance either for loading or for transport from the premises of the owner of the materials
except where it has been specifically mentioned in the Special Terms & Conditions. The specified
delivery period will be counted from the next day of the date of issue of the order.
9.4 Should the original buyer wish to take delivery of the stores purchased by him, through a representative,
he must authorize the lifter by a letter of authority, which the lifter should present to the appropriate
officer concerned/custodian of the stores of the principal. Delivery by proxy will be at the buyer's sole
responsibility and risk and no claim shall lie against the principal or MSTC at any account whatsoever if
delivery is affected on such proxy.
9.5 The buyers and his authorized representative/s or person/s or agent/s engaged by them would be
responsible for processing, loading and transporting out only those materials, for which, delivery advice
has been issued. If any other material is found being processed/loaded/transported it will be regarded as
the mis-conduct/irregularities in executing the sale order.
9.6 The buyer will be held responsible for such acts of irregularities/mis-conduct of his own or committed by
his authorized representative or persons engaged by them for executing the sale order. Any
irregularities/mis-conduct may lead to forfeiture of earnest money/security deposit, portion or whole
money of material value as the case may be in addition to cancellation of sale and or stoppage of further
business and/or appropriate legal action as may be deemed fit at the sole and absolute discretion of
MSTC/Principal.
10.0 NON-DELIVERY
10.1(a) Where the goods are sold in lots and not in number or unit and in the event of the number or unit being
found deficient in quantity, quality, size, measurement and weight as indicated in the
catalogue/description of materials/details in the auction floor or any other documents, the buyer shall
have no claim against the principal or against MSTC for refund of whole or any part of the purchasers
money or for loss of profit, interest, damage or otherwise.
10.1(b) Where the stores are sold by weight or number and not on the basis of lots and in the event of the buyer
fails to obtain delivery of the whole or portion of the stores sold he shall not be entitled to claim any
damage, loss of interest or compensation or any other account but shall be entitled to proportionate
refund of sale value.
10.2 The buyer shall not be entitled to re-sale any item, lot or part of lot while the goods are still lying within
the premises of the principal and any such sale or assignment of the buyer's right to the material sold in
auction will not be recognised. All paper documents for releasing materials will be made out in the name
of the buyer only.
10.3 No interest will be paid on the amount deposited by the buyer and subsequently found refundable under

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 any of the condition mentioned herein before.
11.0 FAILURE TO TAKE DELIVERY AFTER PAYMENT
11.1 In the event of non-removal of sold material after expiry of time allowed in the relevant order and
subsequent extension (s) thereof, if any, the principal/owner of the material shall have the right to order
re-sale of the said material as also to forfeit relevant payments (as specified in GTC, BSTC & STC) paid
by the defaulting buyer in respect thereof. The principal/owner of the stores may, however, in its
discretion give the buyer further extension beyond the time stipulated for taking delivery of the materials
in exceptional circumstances and/or relief against payment of further ground rent in part or in whole.
11.2 The buyer shall be responsible for any damage that may be caused to the premises, equipments,
machineries and/or any other installations of the plant/establishment of the principal/owner of the
materials in taking away or removing the lot or lots purchased by him. The principal/owner of the
materials may at their own option arrange themselves to make good such damages and the buyer shall
have to bear the cost thereof on demand. The authority fully reserves the right to recover the cost of such
damages from any sum due to the buyer.
11.3 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 even after issue of sale order/delivery order when the
material is required for their internal use. The principal/owner will not be bound to assign any other
reason or details thereof excepting internal use. 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.
12.0 GENERAL
12.1 The principal/MSTC reserves the right/option to produce any or all such documents off line i.e. by paper
hard copy wherever such situation warrants, however, excepting the bidding process.
12.2 Neither the principal nor MSTC will be held responsible for authorising any on line payment by any
buyer/bidder and subsequent loss or damage caused to that buyer or bidder for such authority.
12.3 The safe-custody of gate pass, challans, authorising delivery or any such hard copy documents will be
the sole responsibility of the buyer once the same are made over to them. The principal or MSTC will
not be liable for any delay or damage for mis-placement of any such hard copy document by the buyer.
12.4 So long the workers, employees, agent or any representative of the buyer are required to work within the
premises of the principal/owner of the material, the relevant Labour Laws & Rules, Factory Acts and
Rules and any other statutory provision will be equally applicable as in the case of workers and
employees of the principal. It will be in their own interest to know this provision before starting the job.
It shall be responsibility of the buyer to see that the statutory provisions are complied with and they will
be only and solely responsible in any manner for their employees, workers, agents, representatives
employed for the job.
12.5 In respect to forthcoming auctions, MSTC reserves the right to alter, postponed, modify, and cancel any
or all of the contents of the notification without any prior intimation to the prospective buyers.
13.0 AUTO CANCELLATION OF BUYER REGISTRATION
13.1 In case any Buyer fails to make the payment towards Registration Fees to MSTC within 30 days from
the date of his registration, then the registration is automatically cancelled. He can, however, re-register
himself for the purpose of paying Registration Fees and activate his account for participation in the
forthcoming auctions.
14.0 AUTO DEACTIVATION
14.1 If any buyer's account is de-activated for non-compliance of any of the terms and conditions of the e-
auction, then the registration / re-registration fees of that buyer's account will stand forfeited without any
further reference to the buyer and the buyer registration de-activated. In case the buyer desires to re-
register, they shall request the regional / branch office of MSTC conducting the e-auction, under which
the non-compliance had taken place. Requests for such re-registration will be examined by MSTC,
keeping in view the lot value, the past record of the Buyer, recommendations from the principal,
recommendations from the concerned regional / branch office of MSTC and other relevant factors. Based
on such considerations, MSTC may either reject the request or levy are -activation fee on the basis of the
above parameters assessed by the MSTC. On receipt of the re-activation fee as may be levied along with
service tax / education cess and any other charges for the time being in force as applicable, the Buyer's
account shall be re-activated, on such terms and considerations as MSTC may deem fit. MSTC's decision
in this regard shall be final and binding on the buyer.

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15.0 ACTUAL CONTRACT
15.1 The actual contract between MSTC & Buyer will be deemed to have been concluded only after the ink
signed copy of Acceptance Letter/Sale Order has been issued.

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