1.0 Inspection Terms:
1.1 The Salvage(s) put up in the Auction are to be sold on “AS-IS-WHERE-IS” and “AS IS-WHATS-IS” and “WHATEVER-THERE-IS” and ON “NO COMPLAINTS BASIS” only.
1.2 Material offered for sale can be inspected between 10.00 am – 5.00 pm on any working day before the e-Auction date with a prior appointment with the authorized representative of the “Seller”.
1.3 Once the bidder is participating in the e-Auction, it is assumed that prospective bidders have inspected the above salvage and acquainted themselves about the offered goods available for purchase, irrespective of the fact that they have actually inspected the same or not.
1.4 It shall be the duty of the Bidder to inspect the Salvage(s) as there may be missing parts/equipment and to ensure complete satisfaction and knowledge about the condition of the Salvage(s) being sold. Ensure taxes and duties, local working conditions and other extraneous factors before placing the bid for the Auction.
1.5 Photographs of lots are at best indicative only and do not necessarily reflect the actual condition of lots. “ALL THE PHOTOGRAPHS ARE INDICATIVE”
All bidders are advised to physically inspect the offered lots before participating in the auctions. Insurer/Surveyor/Seller/ TradeMax Auction shall not be responsible or liable for any error of Judgment or bids put by bidders acting on the basis of these photographs.
1.6 Physical evaluations of Salvage may be undertaken the Bidder, upon request to the Auctioneer/Seller.
The Principle of Caveat Emptor (let the buyer beware) shall apply to the Auction, no complaints grievances by the Bidder shall be entertained by the Auctioneer or/and seller after the Auction on the ground that certain information about the Salvage(s) were not known, including issues/queries pertaining to Tax Liability, warranty or guarantee of the quality, quantity, measurement, condition, defect in any item/s or lot/s, etc.
1.7 For viewing the Salvage(s), Bidders may please contact the Auctioneer (TradeMax Auction team) for a gate pass. Bidders are advised to obtain all relevant information before bidding and during the inspection of the salvage.
2.1. Interested buyers must pre-qualify themselves for participation in the e-Auction, by paying an EMD Amount announced by an administrator, by way of Demand Draft / NEFT / RTGS in favor of SHIVOHM ENTERPRISE at Ahmedabad, under confirmation to us.
2.2 The EMD if submitted by DD to be deposited in physical form at our operating office address at least before 3 working hours of the auction.
2.3 In the case of the successful bidder – (hereinafter referred to as ‘the Purchaser’), the EMD shall be transferred to the Seller’s account in due course after making the necessary adjustments.
2.4 Please note that your username will be enabled allowing you to bid only if the above mentioned EMD has been submitted within the stipulated time.
2.5 The EMD will not attract any interest.
2.6 Conditional offers or any offer received without Earnest Money Deposit will not be entertained
2.7 Forfeiture/Penalty: Entire EMD Paid by a successful Bidder may be forfeited and will be blacklisted including blocking of a user ID and preventing from bidding in any conducted by the TradeMax Auction may be done for the following reasons, including for breach of terms of the Bidder Undertaking
(a) Non-payment of the full Salvage Amount for any one or more than one salvage(s) bid by the Bidder in the Auction.
(b) Non-payment of the full Salvage Amount within the stipulated payment Timeline as mentioned in this Terms & Conditions.
(c) Failure to lift the Salvage(s) within the stipulated timelines.
(d) In the case of H2 and H3 bidders, the EMD of the H2 and H3 bidders shall be retained till the highest bidder’s deposit the payment to the seller, and non-deposit of the payment by the highest bidder within the period shall be awarded the deal at the 2nd highest bid.
(e) 2nd highest bidder will have to honor the deal at his bid amount and if he refuses to proceed with his bid, his EMD will also stand forfeited, all the terms and conditions mentioned below shall apply in such case.
In case if 2nd highest bidder fails to deposit the payment, the same process will be applicable to the 3rd highest bidder.
3.1 3.1 For Seller: 5% of Salvage value realized (including GST) + Expenses like an advertisement placed on behalf of the seller, other charges as
per approval of seller.
3.2 For Buyer:
(a) The fee of Rs. 1,000/- per month and Rs.10,000/- per year shall be levied separately on account of participation and processing of the E- Auction form and the same must be submitted along with the EMD by Demand Draft/RTGS/NEFT in favor of Shivohm Enterprise, payable at Ahmedabad. No application shall be accepted unless accompanied by the Participation Fees.
(b)Some fees may be levied separately on account of participation and processing of the e-Auction and the same must be submitted along with the EMD. Wherever applicable, no application shall be accepted unless accompanied by the Participation Fees.
4.1 On approval, the Purchaser should remit 100% advance payment within specifically mentioned working days of receipt of delivery order, in the name of Seller, failing which their EMD will be forfeited. For the above remittance, relaxation may be allowed as per the mutual convenience of the “Seller” and “Purchaser”. If the Seller is accepting part-payments, then it is assumed that they have already reached an agreement regarding the relaxed payment schedules. We have no role in such cases of any disputes later on.
4.2 After depositing 100% payment, the Purchaser shall start lifting and clear the lot awarded to him.
4.3 The rate for purchase of offered goods is to be submitted on a “Unit” basis as mentioned in the e-Auction listing being displayed on the site.
4.4 The rate for purchase of offered goods is to be submitted on a “basic amount” basis. the same shall be exclusive of all applicable duties, GST, and other statutory levies (if any).
4.5 Late Payment and Penalty for Failure to Complete Purchase:
(a) If the winning bidder fails to pay the purchase price to the seller and other fees within the payment schedule after selection of the winning bid, then the winning bidder must pay a late fee to TradeMax Auction/ Seller as per the below schedule.
(b) If the winning bidder fails to make full payment of the purchase price and other fees within the time stipulated above, such bidder is in default and forfeits its rights to purchase the goods and EMD, in which case the seller may sell the goods to another bidder.
(c) A defaulting bidder will be assessed a Default Penalty, as set in the Standard Fee Schedule, and will be barred from bidding on other Auctions on the Site until the Default Penalty is paid.
(d) Payment Schedule for H1 Buyers:
(e) This Payment schedule is the default; it can be changed as per the seller’s requirement.
5.1 All charges incidental to cutting (if required), loading and lifting of material will be borne by the Purchaser.
5.2 There will be no guarantee for quantity & quality of offered goods either by us or by The owners, as the material is being sold on “AS-IS-WHERE-IS” and “AS-IS-WHATS-IS” and “WHATEVER-THERE-IS” and “NO COMPLAINTS BASIS”.
5.3 Lifting is to be made as per instructions given by the Seller. For example, more damaged material to be lifted first, etc.
5.4 The Purchaser shall not be allowed to pick or choose or segregate any particular item out of the lot sold by the Seller at the time of delivery of the lot. The Purchaser shall be bound to clear the entire lot as directed by the Seller on a clean sweep basis.
5.5 The Purchaser shall be allowed to lift the material against payment and complete the lifting within the period of 7 working days from the receipt of the approval letter.
5.6 In case the Purchaser fails to comply with the clause 5.5 then,
(a) The Purchaser shall pay to the Seller ground rent, as decided for the period in excess of the stipulated period and/or
(b) The Seller may dispose of the remaining lot at its discretion, at the cost and responsibility of the Purchaser
5.7 Lifting shall be made against advance payment on a Quantity (per KG) basis.
(a) If the material is more than the estimated quantity then the Purchaser will immediately deposit by DD/Money Transfer/Cash the balance amount payable by him, after adjusting Earnest Money Deposited. At no time the delivery should be made for more than the amount deposited with the Seller.
(b) If the material is less than the estimated quantity, then the Seller will within 15 working days of the clearance of the entire lot refunds the excess payment to the Purchaser.
5.8 Shortage of goods: Where goods are sold in lots and not in number or units, any reference to the quantity, quality size, measurement number and weight in the notice or other documents shall not be a point of dispute and the purchaser shall have no claim against the Seller for a refund of the whole or any part of the purchaser’s money or loss of profit or interest, damage or otherwise. Where materials are sold by weight or number the purchaser fails to obtain delivery of the whole or a portion of the goods sold, he shall be entitled to claim the proportionate refund of the sale value of the undelivered quantity. He shall not be entitled to claim any damages, loss of profit, interest or compensation on any other account due to such short delivery.
5.9 Damage to Plant properties: The purchaser shall be fully responsible for any loss/damages that may be done to the premises, equipment, Machinery, and other Installations of the plant in the course of removing the lot/lots bought by him and the purchaser is fully liable to reimburse the Management the cost of such damages. The Management fully reserves the right to recover the cost of such damages from any sum due to the purchaser.
6.1 The services provided by M/S SHIVOHM ENTERPRISE (“TRADEMAX AUCTION”, “We” or “Our”) through the TRADE MAX AUCTION website (the “site”) are governed by these terms and conditions (“Terms and Conditions” or “Agreement”) by registering as either a buyer or seller on the site (“buyer”, “seller” or “you”).
6.2 For ensuring Anti Money Laundering, each buyer is required to submit his KYC documents.
6.3 The KYC documents including Name ID of the owner, mobile number, address, PAN card, GST and trade certificate are required from the buyer.
6.5 The eAuction is run on a secure website and there are no chances of any manipulation of our knowledge and belief.
6.6 The system is completely transparent and there are no leakages to allow any buyer to play foul with us or the sellers.
6.7 Please do not hand over any money on our behalf to any person. Any such act is your responsibility and we should not be held responsible in such cases.
6.8 Any Dispute shall be subject to the exclusive Ahmedabad Jurisdiction.
6.9 All official communications should be done to our domain named email (@trademaxauction.com) only. Use and belief of any other non-domain emails are at the risk of recipients. M/s SHIVOHM ENTERPRISE can not be held responsible for any communications emanating from non-domain email IDs.
6.10 The Purchaser agrees to have discussed all the related matters regarding any transaction and has understood in full that we provide sources of supply or inquiries and/or leads for supply. We have nothing to do any further, especially concerning the quality, quantity, warranty, guarantees, delivery schedules, payments, rejections, transportation and legal laws & regulations to be followed from time to time.
6.11 Bidders are requested to read the Auction Document carefully and submit their offer as per the terms and conditions are given therein. Bidders who submit their offers shall be deemed to have read, understood and accepted the terms and conditions of the document.
6.12 Illegal Gratifications: Any bribes, commission, gifts or advantage given, promised or offered by or on behalf of the Bidder or his partner, agent or servant of anyone on their behalf to any officer, servant representative or agent of the company or any officer, servant representative or agent of the company or any person on their behalf about the obtaining or to the execution of this or any other contract with the company for showing or forbearing to show favor or disfavour to any person about this or any other contract/s aforesaid shall subject to the Bidder to the cancellation of this contract as aforesaid and also to payment of any loss or damage resulting from any such cancellation to the like extent.
6.13 The Seller reserves the right to accept/reject/cancel any bid without assigning any the reason, withdraw any portion or all of the salvage at any stage from the auction even after the acceptance of bid/ issue of approval letter or deposit of full value by successful bidder without assigning any reason thereof. In the event of total rejection/ cancellation/ withdrawal, SELLER shall refund the amount received from the buyer if any, for amount of salvage, 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.
Commission Agent / Open Market Broker Clause
Broker bids on the behalf of his buyer/s and works under their authority letter. Broker is allowed to do the bidding considering the fact that the actual buyer for some reason is unwilling to articipate in the eAuction and such procedures AND they fully trust their commission agent.
The commission agent must use multiple IDs for multiple buyers if need be. Single ID will not be allowed for multiple buyers.
A maximum of 3 IDs are allowed per commission agent.
The KYC documents including the name of the owner, mobile number, address, PAN card, GST, and trade certificate are required from the actual buyer.
The money deposit should be from the actual buyer and the same shall be released only to the actual buyer’s account. No money will ever be released to the commission agent.
In the case of winning the e-Auction the commission agents are allowed to change the actual buyer only after NOC from the winning buyer as per our records. A minimum fee of Rs. 10,000 OR 1% of the total lot value is however payable with every change request.
No change will be permitted after the expiry of the allowed time period. In such a case as per the T&C of the e-Auction, the EMD will be forfeited.
The allotment letter will be issued in the name of the commission agent.
The delivery order will be personally received by the commission agent.
The billing will be done to the actual buyer only.
7.1 The e-Auction participation agreement constitutes an agreement between the Seller and the Purchaser. TradeMax Auction is acting solely in the capacity of facilitators of the transaction.
7.2 TradeMax Auction is acting on behalf of the Seller and appointed by the Insurance Surveyors/Insurance Company.
7.3 TradeMax Auction is acting on behalf of the Seller / their insurers / believed to be the owners of the material / appointed Insurance Surveyors & Loss Assessors / mandated Insurance brokers/consultants / Insurance Agents, and appointed by them to conduct this e-Auction under good faith for maximum recovery by the sale of the salvaged goods. Hence if any assignment has been accepted in goodfaith, the same has been interpreted accordingly for circulation among prospective buyers. Any fault in the information provided falls back on the sellers only.
7.4 Any items placed for listing / e-Auction by the seller or by us on their behalf and its subsequent sale is the sole responsibility of the seller. We believe the seller that they have absolute authority to accept bids for the items offered for sale.
7.5 TradeMax Auction takes no responsibility for the quality, quantity and documentation details of items on sale. In no event shall TradeMax Auction be liable for any loss sustained by the seller or the Purchaser with reference to their business, revenues, profit, costs, direct and incidental consequential or punitive, damages of any claim.
7.6 The EMD is accepted on behalf of the Seller by TradeMax Auction in its name (M/S Shivohm Enterprise). Please refer to Clause 2.0 of EMD Information above for the treatment of EMD.
7.7 The Seller shall be solely responsible for procuring/arranging all necessary permission(s) or certificate(s), required if any, to sell the subject salvage, particularly in case of the offered goods meant for human consumption. The Seller shall give proper and required declaration in this regard on the Sales Invoice.
7.8 The TradeMax Auction or the associated Loss Adjusters or Underwriters, being only the facilitators for disposal of salvage, have no knowledge about the specific trade requirements and shall bear no responsibility of any kind, in this regard of whatsoever nature.
7.9 Similarly, the Purchaser shall be solely responsible for any harm/loss of life or property caused due to inappropriate consumption/ usage of salvage of offered goods, purchased by him.
7.10 There is no warranty or guarantee of any sort on the material sold through this site. No claim in this regard will ever be entertained by us or the seller/s.
7.11. Wherever “Brand Clause” is mentioned in the special T&C, the material will be removed after defacing the “brand” of the seller. This means that the brand name will be removed at the time of material delivery (S.No., sticker, technical specs, nameplate/wiring diagram, warranty card and user manual). The buyers must acquaint themselves if this special condition is inserted in the specific listing or e-Auction.
7.12. The rule of ‘caveat emptor shall apply here. Therefore, the Purchaser should inquire and fully familiarize themselves with all the limitations, rules, licenses required and regulations in respect of end-use consumption/further reselling of the offered goods sold as salvage.
7.13 The site is maintained by an external agency at external servers. Any problem while bidding or technological glitches/problems may occur accidentally and such problems will be dealt with in order to complete the entire process smoothly. The insurers/surveyor’s decision in this regard will be final as they have appointed us to bring transparency to the system by conducting e-Auction.
7.14 Since the salvaged goods are under an insurance claim, the same may become unavailable in case the insured withdraws the claim. In that case, this e-Auction will be considered cancelled “Ab Initio” and the EMD will be refunded almost immediately without interest/penalty.
7.15 The Seller reserves the right to reject any bid without assigning any reason. However, this is not a normal practice.
7.16 Queries/clarifications, if any, should be addressed before the auction. No queries/clarifications will be entertained after the auction.
7.17 The terms and conditions contained in this mailer may be changed without notice. Please visit and register at our website, www.trademaxauction.com for the latest information/changes in special terms and conditions OR on start time/date and end time/date, changes in items offered for sale and other changes, an extension of the auction time, date, etc and the terms and conditions to which the e-Auction is subject to.
7.18 The Purchaser agrees to have discussed all the related matters regarding any transaction and has understood in full that we provide sources of supply or enquires and/or leads for supply. We have nothing to do any further, especially with regard to quality, quantity, and warranty, delivery schedules, payments, rejections, transportation and legal laws & regulations to be followed from time to time.
7.19 The EMD is accepted on behalf of the Seller by TradeMax Auction. TradeMax Auction does not earn any kind of income on this EMD amount and is held by it only as a security on the behalf of the Seller to be later adjusted against payments to be made by the Purchaser to the Seller. In no event shall TradeMax Auction be held responsible or accountable for any kind of indemnification for whatever reason, to the Purchaser or the Seller. It is understood that any conflict between the Seller and the Purchaser shall be dealt with between the two parties by themselves without making TradeMax Auction a party to it. It is further understood that TradeMax Auction is only a marketplace conducting E-Auction for the Seller, on their direct or indirect request, to find prospective buyers out of their database for them who are interested to purchase the E-Auctioned property belonging to the Seller. TradeMax Auction also takes no responsibility for the conduct or history of the participating bidders and shall in no way be held responsible in regard thereto.
8.1 Once the Highest Bid has been submitted by the Bidder the same cannot be cancelled/withdrawn and the Bidder shall be bound to buy the Salvage(s) at the Highest Bid amount offered by Highest Bidder if approved.
8.2 The E-Auction shall automatically extend by three minutes in case someone enters a bid in the last one minute of the remaining time of closure of e-auction. This shall continue indefinitely until no one bids in the last one minute of the time remaining.
8.3 The terms and conditions contained in this mailer may be changed without notice. Please visit and register at our website www.trademaxauction.com for the latest information/changes in terms and conditions on start time/date and end time/date, changes in items offered for sale and other changes, an extension of the auction time, date etc and the terms and conditions to which the auction is subject to.
8.4 During the period of ONLINE AUCTION, TradeMax Auction will not be held responsible for any power failures / Internet Connection failures / Bandwidth problems / erroneous Bids etc. at the bidder’s end. Bidders themselves need to check it at their end and bid in advance and monitor their lots.