|
Terms & Conditions of Participation in on line auction and in addition Schedule,
Terms and Conditions in the catalogue will apply. |
|
1. |
Sale is on "AS IS WHERE IS BASIS" and "NO COMPLAINT BASIS". |
|
2. |
Participation and bidding in the Auction/s 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 vehicles, taxes and duties, and other extraneous factors and the Principle of
Caveat Emptor (let the buyer beware) will apply. It shall also imply that the bidder/s
has carefully gone through and understood the terms and conditions of Auction including
the amendments if any, prevailing at the time of Auction. No complaints or objections
will be entertained once Bid is placed. |
|
3. |
Once the bid is placed, the Bidders cannot reduce or withdraw the bid for whatever
reason. If done so, the Bidder will be blacklisted. |
|
4. |
Sale is normally through Online Auction Only. Closed cover Bids will not be entertained.
Conditions prescribed by SELLER will apply while accepting any other form of quotations
like physical sealed tenders / closed online Bids / Negotiated Deals etc. |
|
5. |
If any market-leading bid (bid higher than the highest at the point in time) is
received within the last 3 minutes of closing time of each Lot, the
time will be extended automatically by 3 minutes for that lot. (3 minutes is only an example.
This may vary from one auction to another). 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. |
|
6. |
The successful Bidder/s shall make 100% payment to SELLER
within 48 hours or as
may be agreed between SELLER and the Successful Bidder/s. In the event of failure
on the part of the Bidder/s to remit such payment within the stipulated time, SELLER
will be free to dispose of the relevant auction property in any manner they deem
fit. |
|
7.
|
SELLER/Matexnet Pvt. Ltd. reserves the right to modify and amend the general terms
& conditions and announce the same at any time before the auction concludes.
All such modifications / amendments announced will be binding on the bidder/s. |
|
8. |
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 there of. In the event of such rejection/ cancellation/
withdrawal, the value of Auction Property, if paid for, shall be refunded by SELLER
to the successful bidder. SELLER shall not be responsible for any damages/loss whatsoever
to the successful bidder on account of such withdrawal.
|
|
9. |
Delivery will be ex-SELLER warehouse. |
|
10. |
The Auction Property shall remain in every respect at the risk of the successful
bidder/s from the date of delivery order/ release order issued by SELLER and SELLER
shall be under no liability for the safe custody or preservation thereof till the
date of possession of the Auction Property by the successful bidder/s. |
|
|
|
|
Disclaimer : |
|
1. |
MatexNet Pvt Ltd. runs its business on the basis of a robust Web Site. However MatexNet Pvt. Ltd. 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 Pvt. Ltd. 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 Pvt. Ltd. directly or indirectly affecting Online method of Bidding. |
|
2. |
MatexNet Pvt. Ltd. takes no responsibility of the quality, quantity, documentation
details of buyers/sellers. Both the buyers & sellers agree to defend indemnify
and hold harmless MatexNet Pvt. Ltd. from any loss, damage, cost and expenses caused
by any reason during this transaction. In no event shall MatexNet Pvt. Ltd. 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 Pvt. Ltd. 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 Pvt. Ltd. does not possess knowledge base of the property/ies 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 Pvt. Ltd. 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/or
Bidder. Matexnet Pvt. Ltd. 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 Matex Net Pvt. Ltd. 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 Matex Net Pvt. Ltd. to the Seller/Bidder shall not exceed it's 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 submission of EMD in favour of Matex Net Pvt. Ltd., to qualify for participating in the auctions is applicable, the EMD deposited by the intending participants shall be refunded to them after adjusting commission/charges/fee payable by them to Matex Net Pvt.Ltd. by “At Par” cheque within seven working days against a request received in writing from the participant. EMD will not carry any interest.
|