Here lot referred as a single group of item which may be clubbed with many numbers of different products or small lots. Here Lot word is considered for Flat, Machinery, Land, Vehicle, commodity etc.
Reserve price is the minimum price set by the seller, below which the bids are taken as subject to approval at the seller's discreation for the sale of a particular lot/product.
Base price is the price decided by the seller, base price plus minimum increment will be accepted as the first bid below which the bids will not be accepted by the system for the sale of a particular lot/ product .
Minimum increment is the amount decided by the seller, system calculates the highest bid plus increment for the particular lot, which is added for the next minimum bid, below which the bid will not be accepted.
The price a buyer is willing to pay for a particular product /lot & places his offer in auction through clicking the bid button.
To place a bid, you have to login to your account first with the given Id & Password.
a) Click on Check box before title and Terms & Conditions and then click on proceed to Live Bidding button.
b) Click on the title of the E-Auction and select the lots of your interest and proceed to bid Page.
c) Selected lots will appear on your screen to bid.
d) You can pace a bid simply by clicking on Submit button.
No, Once the bid is placed you cannot cancel it.
When you place a bid a winning icon will appear on your screen and your last bid will appear in green color.
When you place your bid on an auction item, you will be prompted to enter Automatic (or Auto) bid, which is the maximum you are prepared to pay for the item.
1) Auto Timer for Auction.
a) Auto Timer is a facility available in auto bid tab, Auto bid for any particular lot can be set in advance during auction through activating the timer which will only be activated 5 seconds before the auction closing time.
b) Auto Timer bid amount can be modified during the auction.
c) Bidders may please note that only manual bid will be considered as highest bid in case of tie . example- Direct Bid by Mr. Rahul is Rs 100/- & auto bid placed through auto timer by Mr. A & Mr. B is Rs 100/- then Mr. Rahul is the Winning Bidder .
d) Bidders may please note Auto bid amount will only be considered as highest bid in case of tie with Auto Timer bid. example- Auto bid by Mr. Rahul is Rs 100/- & auto bid through auto timer by Mr. A & Mr. B is Rs 100/- then Mr. Rahul is the Winning Bidder.
e) If two bidders bid same amount in auto timer, the first request received by the server will be the winning request.
f) This facility will be available on the request of the seller.
g) Advantage of Auto Timer:
1) Auto Bid can be set in advance which will be activated 5 or 10 seconds before the auction/tender closing time. No hassle to run & place a Bid/Auto bid at the last Second.
2) You can place your bid through Auto bid timer for all the lots. There is no risk of missing the auction due to power / internet failure during the auction, the bidder can get free himself instead of blocking himself throughout the auctions.
a) Function of Auto Timer For Auction: Auto timer bid is modifiable at any time during the auction .
b) Function of Auto Timer For Tender: Auto timer bid is not modifiable in the tender process during the auction (Tender once placed cannot be modified)
Please do not use Auto timer if you disagree the above condition .It is not Compulsory & it will not affect your normal bidding process.
The automatic bid feature bids on your behalf up to the maximum amount that you have specified. It will not necessarily increase your bid amount to the maximum amount you have specified, but only high enough to meet the current highest bid amount.
How I can place an auto bid?
On live bidding page there is a button ‘Click here for auto bid’ just above from lot detail band.
Enter the maximum price you want to submit for the particular lot and click on confirm button.
What happens in the situation when same amount auto bid is submitted by two users?
In that case the auto bid submitted first will work.
What is e-tender and how can I quote the price in the e-tender?
An internet based process wherein the complete tendering process; from advertising to receiving and submitting tender-related information are done through online.
This enables firms to be more efficient as paper-based transactions are reduced or eliminated, facilitating for a more speedy exchange of information.
There is a button ‘Click here for Tender’ on the left side just above the Lot No. Click on the button and submit the amount you want to quote for that particular item.
Can I participate only in E-Tender/ or only for single lot?
Yes, you have to deposit CMD amount for the lots as prescribed in the auction catalog.
This screen is provided only for observation of the lots in which bidder are not interested in bidding, It is located on the right side of the bidding screen. Lot's can be shifted to the bidding screen once bidder press the shift button marked as (Add).
Post Auction activities are activity done after the auction is concluded.
Post Auction procedure involves the following activities.
- Subject to Confirmation: All the highest bids received in the Auction/Tender are Subject To Confirmation from the seller it means the decision will be
taken by the seller later on.
- Final Confirmation: All the highest bids received in the Auction/Tender are confirmed from the seller means the seller has accepted the highest bid.
- Lot Rejection: All the highest bids received in the Auction/Tender are Rejected by the seller.
- Payment Details: It includes bid amount, handling, loading and VAT charges, which will be provided after final confirmation by the Seller.
- In some cases the buyer has to pay PSIC/Chartered Engineering/PQ /Lab Testing charges as per the terms conditions of the auction of a particular Seller.
- Out of Charge: After payment of duty to custom, Out of Charge order is issued and thereafter the goods can be cleared (Applicable for goods purchased under Customs Notified Area).
- Final Payment Reminder: This is the final intimation to the buyer to pay the balance amount of the purchased goods, there after the seller will proceed for cancellation and forfeiture of the CMD/Part Payment of the buyer for a particular lot.
- Forfeit Intimation: After the final intimation is send to the buyer to pay the balance amount of the purchased goods, if the buyer fails to pay the balance amount within the given time his CMD would be forfeited against the particular lot / auction.
All the Post Auction Details will be available in the Result Section. Bidders are requested to check the result section or notifications for Post Auction updates.
Procurement is the act of finding, acquiring, buying goods, services or works from an external source, often via a tendering or competitive bidding process. The process is used to ensure the buyer receives goods, services or works the best possible price, when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risk, such as exposure to fraud and collusion.
License Conditions (For Specific Clients / Imported Goods Only)
- Metal Scrap: State Pollution Control Board (SPCB) / Central Pollution Control Board(CPCB).
- Waste Paper: State Pollution Control Board (SPCB) / Central Pollution Control Board(CPCB).
- Cut Tyres: Ministry of Environment and Forest (MOEF/Actual User).
- Petroleum Products: Ministry of Environment and Forest (MOEF/Actual User).
- Plastic Scrap: Ministry of Environment and Forest (MOEF & Special Import License).
- E Waste: Ministry of Environment and Forest (MOEF).
- Glass Scrap: Ministry of Environment and Forest (MOEF).
- Lead Ore/Scrap: Ministry of Environment and Forest (MOEF).
- Zinc Ore/Scrap: Ministry of Environment and Forest (MOEF).
- Marble: Directorate General of Foreign Trade (DGFT).
- Used Clothes: Directorate General Of Foreign Trade (DGFT).
- Gas Cylinders & Explosive: Petroleum and Safety Organization (PESO).
- Pesticides: Central Insecticide Board (CIB).
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