Para 10.10 — GOODS_MANUAL

10.10.2 All Risks to the Buyer The items shall remain, in every aspect, at the risk of the buyer from the time of acceptance of his offer. The seller will not undertake any liability whatsoever for the safe custody, protection or preservation after the sale has been confirmed. Lots are put up for sale, subject to change by nature’s wear and tear. No complaint regarding the quality or description of the materials sold will be entertained once the bid has been accepted.

10.10. Delivery of Sold Material 10.10.1 Free Delivery Time and Ground Rent Delivery must be taken within 30 (thirty) calendar days (called free delivery period) from the date of the acceptance letter/sale order (excluding the date of issue of acceptance letter/sale order). The delivery of material will be given only after the realisation of the demand draft/pay order. If the purchaser is not able to lift the material within the free delivery period, he may request an extension. Such extensions are generally granted after levying a ground rent @ 1/2 (half) per cent of the sale value per day. But, in some genuine cases, the levy of ground rent may be waived. An accounts representative will be responsible for seeing that when the ground rent has become due, it is recovered by the stockholder before delivery of the stores. The amount realised as ground rent should be noted in the issue note by the stockholder and certified by the stock verifier. The stockholder will be responsible for remitting the cash to the cashier and obtaining a receipt.

10.10.3 Terms of Delivery 1. No picking, choosing, sorting, welding, cutting, or breaking of goods or materials sold will be permitted unless otherwise specified. In used/waste oil, separation of oil and water, and so on, shall not be allowed at the site. If these actions are allowed, there is possibility of leakages. In mixed lots, the buyer may take undue advantage by leaving cheaper components behind. If whole machinery is sold and cutting and breaking is allowed, it would be difficult to ensure that the purchaser is taking out only his own cut material and no other unsold material or from other scrap lots. If any foreign materials are found to be mixed in the lot, other than the items included in the auction catalogue and acceptance letter/sale order, the seller reserves the right to remove them at the time of delivery. The buyer shall not be entitled to re-sell an item, lot, or part of a lot while the goods are still lying within the premises of the seller and any such sale or assignment of the buyer’s right to the material sold in an auction will not be recognised. All documents for releasing materials will be made out in the name of the buyer only.

2. The material will be delivered only to the successful bidder or his authorised representatives against the presentation of the buyer’s identity proof. If the successful bidder desires to authorise a representative or an agent to accept delivery, the bidder shall produce a suitable power of attorney or authorisation letter for each lot separately, duly attested, by a notary public authorising his representative or agent to lift the material from the seller.