Registration Details

REGISTRATION FORM
(*All fields are mandatory)

Buyer Type *

Address

User Type *

Name of the Organisation/Person:*

Contact Person*

Title

First Name

Surname

Date of Birth*

Designation*

Address/Street*

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Sales Tax Reg. No./VAT No.

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Voter's ID Card No.

PAN Card No.

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Same As Above

Street*

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Name of the Person

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Comment

Buyer Terms & Conditions

BUYER TERMS & CONDITIONS    

INTERPRETATION

Egbert Andrews Auction Mart. shall be hereinafter  referred to as "EAAM"  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 organisation on whose behalf EAAM 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. 

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.

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. EAAM 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. EAAM 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 arising in connection with the interpretation or implementation of these terms and conditions shall be resolved by arbitration under the Arbitration and Conciliation Act, 1966. The language of the arbitration shall be English. The place of arbitration shall be Kolkata, India. All disputes covered under this Arbitration clause shall be referred to the EAAM, Kolkata for adjudication by her or by her nominee.

JURISDICTION 

Only the Courts at KOLKATA, INDIA  shall have the exclusive jurisdiction to entertain any dispute connected with the arbitration proceedings or any other matter or claim arising out of or in connection with the e-auction.

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.

EAAM 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 EAAM.

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 :

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

EAAM’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 MAJOR 

EAAM/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 EAAM / Owner to extend the time of performance on the part of EAAM / Owner by such period as may be necessary to be necessary to enable EAAM/Owner to effect performance after the cause of delay  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, 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 user 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. 
 
3.2 The following information will be present in the auction floor :- 
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 15 minutes 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 5-44 p.m.  Similarly, if any bidder again bid at 5-43 p.m. then the closing time will automatically be extended to 5-58 p.m. 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 can not 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 some one 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. 
 
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 EAAM. 
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 EAAM 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 fails to make the requisite payment within the time / extended time stipulated,  the sale relating  to such lot can be cancelled at the discretion of EAAM and the registration money given by the bidder shall be forfeited in full and EAAM 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 EAAM 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/EAAM 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 is 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. 
 
7.2 Quantities made in the lot are approximate and EAAM 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 EAAM 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 authorise 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 EAAM at any account whatsoever if delivery is affected on such proxy.   
 
9.5 The buyers and his authorised 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 authorised 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 EAAM/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 EAAM 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 recognized.  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 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 all monies 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 are 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/EAAM 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 EAAM 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 EAAM 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, EAAM reserves the right to alter, postponed, modify, 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 EAAM 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 account is deactivated for non-compliance of any Terms & Conditions of the E-auction, then the registration fees for that account will stand forfeited. In case the same party wants to re-register himself, he shall be required to pay an amount as per the then prevaling schedule of re-activation fees at that particular point of time. However, the acceptance of such re-registration fees shall be at the sole & absolute discretion of EAAM.
 
15.0 ACTUAL CONTRACT 
 
15.1 The actual contract between EAAM & Buyer will be deemed to have been concluded only after the ink signed copy of Acceptance Letter/Sale Order has been issued.

	  			       SELLER TERMS & CONDITIONS 
	   
AGREEMENT :- 

The Sellers who are intending to avail of the services of EAAM with respect to E-auction for effecting their disposals, will be required to sign a specific and formal Selling Agency agreement with EAAM in the following lines or as near thereto as the circumstances permit.

SELLING AGENCY AGREEMENT

1.0 THIS AGREEMENT made this _______________day of________BETWEEN M/s. ___________________________ incorporated under the Companies Act, 1956 and having its registered office at _________________________________________________________, hereinafter called "the Principal"(which expression shall unless excluded by or repugnant to the context be deemed to include its successors and assigns) on the ONE PART; AND EAAM  (A Govt. of India registered Auctioner) incorporated under the Companies Act, 1956 and having its registered office at 161 Lenin Sarani, Parekh House,  Calcutta-700 013, hereinafter called "EAAM" (which expression shall unless excluded by or repugnant to the context be deemed to include its successors and assigns) on the Other part ;

2.0 WHEREAS the Principal has viewed the contents as displayed in the web site of EAAM and is desirous of engaging EAAM as its Selling Agents for disposal of Scrap and rejected/condemned/obsolete secondary arising (ferrous and non-ferrous) as well as surplus obsolete stores, equipments and misc. articles etc.; through EAAM’s Auction web site

3.0 AND WHEREAS the Principal has agreed to engage EAAM as Selling Agent for the above purpose on the terms and conditions displayed in the Auction web site Viz., www.eaamindia.com and also the Terms and Conditions mentioned hereinafter;

4.0 NOW it is hereby agreed and declared by the parties hereto as follows:

4.1 This Agreement covers disposal of all scraps, secondary arising, surplus stores and equipment, misc. articles etc. as mentioned in clause-2.0 above;

4.2 In addition to the above, add-ons to the category of disposals may be effected through this agreement on mutual consent.

4.3 EAAM shall act as Selling Agent for disposal of all items covered under Clauses 4.1 & 4.2 hereof in the home/indigenous market by way of public auction over the Internet through www.eaamindia.com based on this agreement.

5.0 DURATION OF CONTRACT :

The Contract will remain valid for __________________years from the date of this Agreement which could be extended for such further period on such terms and conditions as mutually agreed upon by the parties hereto.

6.0 QUANTUM OF BUSINESS:

If the volume of business is anticipated to be below Rs.0 lacs(Rupees Zero lac), EAAM will request the Principal for accumulation of disposal items till disposal becomes economically viable. This contract by itself does not commit the Principal as to the quantum of business to EAAM. However, in the event of the quantum of business being such as would attract a higher rate of service charges as stipulated in Clause (9) below, the higher rate of Service Charge would be paid by the Principal.

  
7.0 NATURE & SCOPE OF SERVICE & RESPONSIBILITY OF EAAM:

7.1 EAAM shall conduct auction sale directly and in no case the appointment of any dealer/trader/auctioneer for the purpose will be considered.

7.2 EAAM will offer guidance in regard to making of lots for the purpose of Auction and will act on the basis of the list of disposable materials received from the Principal.

7.3 EAAM may arrange publicity for disposal through E-auctions by way of occasional advertisements in leading dailies / Newspapers / Websites and other Internet Tools. In addition the system shall notify automatically to all the buyers who are registered with the auction website i.e www.eaamindia.com regarding all the forthcoming E-auctions specifying therein all relevant details about the materials / Lots / date & time of opening & closing of auctions etc. In case the Principal desires publicity through a particular publication or media, the same would be arranged on receipt of written request and the additional cost has to be borne by the Principal.

7.4 EAAM shall arrange disposal of the materials primarily through auction via the website www.eaamindia.com.

7.5 On the close of any auction Principal will receive a system generated Email indicating the status of the Auction which will inter alia include Sold Lots, Subject To Approval (STA) lots and also lots not sold with highest bid received for Principal’s record. The Principal shall have the option to visit the website in order to obtain a full report of any particular auction, which will normally depict the replica of the Bid Sheet of a particular auction.

7.6 Reserve Price must be fixed and entered by the Principal in the website, which will be only accessible by the Principal and none else, for the disposable materials. In case the Reserve price is not entered by the principal prior to commencement of the Auction, the lots for which the reserve price have not been entered, shall stand automatically withdrawn by the system.

7.7 If, in respect of any item(s) covered under the Selling Agency Agreement, it is desired by the Principal to have a market survey, the costs for the same will have to be borne by the Principal. The market survey could be done by EAAM themselves or by engaging consultants.

7.8 EAAM shall enter into sale contracts with the successful bidders/ buyers/customers by issuing Sale Orders/Acceptance Letters on behalf of the Principal through the system for the sold lots.

7.9 EAAM shall accept sale price/bid money for onward submission to the Principal, off line. The successful buyers will have the option to remit their money to any of the offices of EAAM. The principals will be able to access data of payments etc., at the website.

7.10 Wherever the Principal is not registered under the appropriate Sales Tax Act, EAAM shall collect Sales Tax as applicable and other declaration forms and submit the same to the Appropriate Authority. For such service, an additional Service Charge of 0.5% will be payable by the Principal to EAAM.

7.11 EAAM shall prepare and issue Delivery Orders after receipt of the payments from the buyers, through the system. On production of the Delivery Order the Principal will deliver materials.

7.12 EAAM shall also be responsible for follow-up of orders booked.

8.0 NATURE & SCOPE OF RESPONSIBILITY OF THE PRINCIPAL :

8.1 The Principal shall provide EAAM with the list of materials with detailed specifications and descriptions, locations, quantity, quality and special remarks or any sort of restriction, if any, for disposal. The Principal shall not amend/alter or modify the quantity of the lot after the auction is declared open and live. All such amendments/alterations/modifications shall be made prior to commencement of auction and intimated to EAAM in writing for notifying the prospective bidders sufficiently in advance.

8.2 The Principal shall indicate the annual availability of scrap and other items for disposal as far as possible for each category. The auction programme shall be finalised between EAAM and Principal for each quarter as per mutual convenience. Depending upon their convenience Principal will combine the list of disposable items of its various units.

8.3 The Principal shall cause to effect deliveries to the buyers/customers as per Delivery Orders issued by EAAM and as per directions given by EAAM from time to time. Any disputes arising while effecting deliveries to successful bidders/buyers shall be dealt with by the Principal.

8.4 The Principal shall be responsible for raising invoices as per the terms and Sale Orders/Delivery Orders issued by EAAM.

8.5 The Principal may monitor the auction and will be able to view the bid history etc., during the continuation of the E-auction.

8.6 If the Principal is a registered dealer under appropriate sales Tax Act, the Principal will indicate rate of tax for each lot however EAAM collect necessary Sales Tax and other declaration form etc. at its end and forward the same to the Principal for necessary action at their end. In case the Principal is not a registered dealer, the Principal may not indicate the rate of levies item-wise, in such case EAAM would indicate rate of taxes and collect the same and deposit with appropriate authority for which the additional service charges is payable as indicated in clause 7.10 here in before. However in case of such unregistered principals for whom EAAM deposits tax with the appropriate authority, in these cases, the principal would be responsible to bear all other related statutory duties and taxes eg. turnover tax / surcharges which could not be received from the buyers as per statute of the respective state. However, the Principal must indicate the item which will attract excise duties and also amount/rate of Excise duties leviable.

8.7 EAAM shall provide its standard terms and conditions of sale of materials to the Principal. The Principal will not insist on EAAM for any deviation from standard terms of sale of EAAM.

8.8 Monthly Delivery/Despatch Statement customer-wise and item-wise along with the copies of Invoices shall be submitted to EAAM by the Principal latest by 10th of each succeeding month. The Principal shall also provide N.O.C. for each lot within 15 days of completion of delivery to enable EAAM to release Security Deposit.

9.0 SERVICE CHARGE

EAAM shall be entitled to a service charge as specified in the contract on the value of materials disposed, arrived on the basis of the value of the Delivery Order (D.O.) issued through this auction over the Internet..

For Ad hoc/One time disposal a lump sum service charge will be levied on the seller based on negotiations between the seller and EAAM. Service charge in this case will in no case be less than 10% of the material value.

The above service charges are to be read along with Clause 7.10 hereto above. 

The service chare is exclusive of any other taxes and duties levied by the Statutory Authorities of different States and Central Government.

N.B:

1. If any organisation has more than one unit, the sales from all units will be taken together for the purpose of calculating Service Charge. 

2. Year referred to above, shall be reckoned as anniversary year i.e. for 12 months from the date of Agreement. 

3. Above Service Charges are to be read along with [Cl.no.7.12] hereto above. 

4. The Service Charge is exclusive of any other taxes and duties levied by the statutory authorities of different State and Central Governments.

9.2 Service Charge will be calculated on the amount realised excluding Excise Duty and Sales Tax, if applicable.

9.3 Service Charge payable to EAAM shall be deducted from the EMD in each auction and from material value recovered in each tender due and payable to the Principal. The details thereof shall be forwarded along with the signed bill and receipt within three days of the succeeding month.

9.4 Whenever any auction is cancelled/deferred/postponed under the advice/instruction of Principal, the actual cost of advertisement etc. shall be reimbursed to EAAM by the Principal.

9.5 The above Service Charges shall also be payable on the amount of forfeited Security Deposit.

10.0 STANDING COMMITTEE FOR IMPLEMENTATION OF THE AGREEMENT

10.1 The Principal and EAAM will nominate one official each for dealing with all matters relating to this Agreement. The working arrangements for implementing the provisions of this Agreement shall be mutually discussed and decided upon.

11.0 EXECUTION OF SALE CONTRACT :

11.1 Sale Contract(s) of the Principal existing at the time of execution of this Agreement will continue to operate and will not come under the purview of this Agreement. Similarly, at the expiry of this Agreement, the orders booked by EAAM will continue to operate as if this Agreement continues till the execution of those orders.

12.0 HANDLING OF SUITS :

Since EAAM will merely act as the Selling Agent of the Principal, the Principal shall reimburse to EAAM the legal expenses incurred in connection with any litigation arising out of any Sale/Tender/Auction under this Agreement. However, if the litigation arises out of any fault on the part of EAAM alone, EAAM shall refund the amount reimbursed by the Principal to that extent.

EAAM shall take prior permission of the Principal for instituting case in any Court of Law in the matters arising out of any sale/auction under this Agreement.

13.0 A M E N D M E N T :

13.1 Any amendment to this Agreement would be enforceable only if made in writing and duly signed by authorised representatives of the parties hereto.

14.0 FORCE MAJOR CLAUSE :

14.1 If, any time during the continuance of this Agreement, the performance, in whole or in part by either party, of any obligation under this Agreement be prevented or delayed by reason of any war, hostility, act of public enemy, civil commotion, sabotage, fires, floods, explosions, epidemics, quarantine restrictions, strikes, lock-outs, Technical and / or Connectivity failure which is entirely beyond the control of EAAM etc. or acts of God (hereinafter referred to as 'events') provided notice of happening of any such eventuality is given by the affected party to the other within 21 days from the date of occurrence thereof, neither party shall be reason of such event have any claim for damages against the other in respect of such non-performance or delay in performance, provided further that if the performance in whole or part of any obligation under this Agreement is prevented or delayed by reasons of any such event for a period exceeding sixty days, the parties shall try to arrive at an amicable settlement, failing such settlement the Principal may terminate this Agreement at its sole discretion and at such event EAAM shall be bound to pay all the expenses and other moneys recovered from the bidders to the Principal forthwith.

15.0 T E R M I N A T I O N :

15.1 This Agreement shall be subject to termination with clear 3(three) calendar months' notice in writing from either side before the expiry of the contract.

16.0 ARBITRATION CLAUSE :

16.1 In the event of any dispute or difference relating to the interpretation and/or application of the provisions of this Agreement, such dispute or difference shall be referred by either party to the Arbitration of one of the Arbitrators in the Department of Public Enterprises to be nominated by the Secretary to the Government of India, In Charge of the Bureau of Public Enterprises. The Arbitration Act, 1940 shall not be applicable to the arbitration under this clause. The award of the Arbitration shall be binding upon the parties to the dispute, provided, however, any party aggrieved by such award may make a further reference of setting aside or revision of the award to the Law Secretary, Department of Legal Affairs, Ministry of Law & Justice, Government of India. Upon such reference the dispute shall be decided by the Law Secretary, or the Special Secretary/Additional Secretary when so authorised by the Law Secretary, whose decision shall bind the parties finally and conclusively. The parties to the dispute will share equally the cost of arbitration as intimated by the Arbitrator.

17.0 APPLICABILITY OF LAWS :

17.1 The Agreement shall be governed by the Indian Laws for the time being in force. 

IN WITNESS WHEREOF the parties hereto have subscribed their respective hands on the day, month and year first above written.

Signed and delivered 

For and on behalf of 

M/s. __________________________________________________

By its________________Shri______________________________

(Designation) (Signature with seal) 

In the presence of :

1. (Signature with Address)

Signed and delivered

For and on behalf of

M/S. Egbert Andrews Auction Mart

By its___________Shri____________________________________

(Designation) (Signature with seal)

In the presence of :

1. [Signature with Address]

I Agree