Registration & Participation:
- Process: Bidders must register at maxsurebidders.com, submit a completed Registration Form, and provide the required self-attested documents before the deadline.
- "As-Is" Basis: Bidding constitutes legal proof that you have inspected the property and accept its current condition, quality, and quantity. The principle of Caveat Emptor (Buyer Beware) applies; no complaints will be entertained after the auction.
- Technical Issues: The auctioneer may restart the event in case of server or technical failures.
EMD & Payments:
- Initial Deposit: Bidders will pay a refundable Earnest Money Deposit (EMD) to qualify for bidding.
- Winning Bidder (H1): Must top up the EMD to 10% of the total bid value within 2 days of the event. Full payment (including 18% GST and other taxes) must be made within 5 working days of approval.
- H2 & H3 Bidders: Bids must remain valid for 20 days. The H2 bidder’s EMD is held for 15 working days; if H1 fails to perform, H2 (and subsequently H3) must honor the deal at their respective bid amounts or forfeit their EMD.
- Refunds: Unsuccessful bidders (excluding H2) will receive their EMD back within 7 working days without interest.
Property Rights & Seller Authority:
- No Guarantee: The Seller provides no warranty regarding the chemical composition, fitness for purpose, or exact measurements of the items.
- Right to Reject: Being the highest bidder does not guarantee a sale. The Seller reserves the right to reject any bid or withdraw property at any stage without providing a reason.
- Dispute Limitation: All transactions are strictly between the Seller and Buyer. No claims can be made against the insurance company or surveyors.
Post-Auction Phase:
- Winner Declaration: Once the timer hits zero, the highest bidder is automatically identified as the winner (H1).
- Payment & Documentation: The winner must pay the remaining balance within a strict timeframe and receive a Letter of Intent (LOI).
- Asset Release: After full payment and paperwork (like a Sale Certificate) are completed, the seller releases the asset to the buyer.
Lifting, Delivery & Penalties:
- Timeline: Salvage must be cleared within 10 working days of the work order (or as agreed).
- Late Fees: A demurrage charge of Rs. 5,000 per day applies for delays in removal.
- Forfeiture: Failure to pay or lift the material by the deadline results in automatic contract termination and EMD forfeiture.
- Logistics: The buyer bears all costs for loading and transportation and must follow all site safety rules.
- Authorized Representatives: If sending a proxy for collection, a formal letter of authority is required. However, the Seller may refuse delivery to anyone other than the registered purchaser.
Legal & Miscellaneous:
- Default: Successful bidders who fail to meet obligations may be blacklisted from future auctions.
- Jurisdiction: Any legal disputes are subject exclusively to Delhi Courts.
- Bidding Instructions:
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- 1. All participants are requested to kindly make their selves registered on our website i.e. https://maxsurebidders.com to participate in the bidding event before/on last date of submission.
- 2. To get qualify for the e-Auction, kindly provide the dully filled e-Auction form along with the required documents and EMD, login on our website and place bid request for the subject salvage.
- 3. After getting clarification on your submitted documents and the EMD, we will activate you for the e-Auction and you will be able to place bid.
Payment Terms:
- All charges incidental to loading and lifting of material such as loading, lifting, transportation etc. will be borne by the purchaser.
- Bids are inclusive of GST; any other govt taxes will be applicable over the bidding amount:
GST: 18%
Liability of Maxsure Bidders Pvt Ltd /Surveyor/Insurers:
The Maxsure Bidders Pvt Ltd is an Auction Firm, and we are just providing platform to the sellers to sell their material. ‘The Maxsure Bidders Pvt Ltd/surveyor/Insurance company’s is not the actual seller so takes no responsibility of whatsoever including quantity/quality/documentations of the material on sale and hence will not be liable for any loss for the Seller or the Buyer by business, revenues, profit, costs, direct and incidental, consequential or punitive, damages of any claim. Buyer agrees to have discussed all the related matter regarding any transactions and have understood in full that we provide sources of supply or enquiries / leads for supply and has nothing to do any further especially with regards to quality, quantity, warranty, guarantees, delivery schedules, payments, rejections, transportation, legal laws and regulations to be followed from time to time.
Note: e-Auctioneer reserves the right to restart the e-Auction at any stage in case of IT/ Server Breakdown or any kind of technical fault/failure related to web portal i.e. https://maxsurebidders.com.
Bids are invited on a Lot basis; any shortage or excess will be adjusted on a prorate basis.
*This is an estimate, and final fees may vary depending on lot details. All bids are final.
