MOTOR VEHICLE SALVAGE DISPOSAL CODE

FREQUENTLY ASKED QUESTIONS

INSURANCE SECTOR BIDDERS

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GENERAL QUESTIONS ( click on ???? after a question to jump to answers)
1. Who can place bids ????
2. Regarding Registration
  • Are there any charges for registration for bidders ????
  • What is validation number and how can I get the same ????
  • Why I need to give my correct personal details like address ,phone number,bank name and account number ????
  • Which password should I use to register ????
  • can I use some other user name instead of my personal email ID as user name ????
3. How I can find a listed item I am looking for ????
4. Regarding Bidding
  • How I can place a bid on a listed item ????
  • Are there any charges for placing a bid on an item ????
  • What is TRANSACTION ID / SCAN and how to to proceed further ????
  • What is meant by expected amount & who has quoted the same ????
  • Can I quote value lower than expected amount ????
  • I did quote a value but the message displays that "you can only increase the bid amount" why is so ????
  • Can I agian revise my quoted bid ????
  • Are there any suggestion for the bidders ????
  • How Can I again reach to same items where I had placed my bids ????
  • Where is my personal user account access ????
  • Do I own the item on closure of the bid time ????
  • What if some other bidder puts higher value and beomes the winner ????
  • What is meant by verified and awaiting verificaion in bids corner ????
  • I have placed the bid but screen still shows my placed bid as awaiting verification. When it will be verified ????

5. What are the terms and condtions ????

6. I still have not found the question/answer I had been looking for. Where I can now find the answer ????

ANSWERS TO YOUR GENERAL QUESTIONS

Who can place bids ????

Any person who has attained age above 18 years and who is of sound mind is free to place as many bids on as many items listed on the web site. He should have at least one valid registered e mail ID with any e mail service provider. All bids will be subject to terms and conditons for using the site and further subject to additional terms and conditions if any set by the Insurance / Govt. sector for listing of their items for on line bidding.

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Are there any charges for registration for bidders ????

No, There are no charges for registration as insurance/Govt. sector listed bids .

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What is validation number and how can I get the same ????

As a precaution for verification of email ID provided by you the validation number is required,which will be provided by us through e mail to your e mail account and you can use the number provided to proceed further in filling the registration form completely and correctly.

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Why I need to give my correct personal details like address ,phone number,bank name and account number ????

Your personal details are desired by the items listing organisations in case you become the sucessful/ approved bidder for the listed item. Also as you will have to deposit earnerst/security money for each bid for placing your bid as per terms and condtions and in case you remain unsucessful / not interested in placing highest bid the said earnerst/security money will be refunded to you after deductions if any as per terms and conditions at postal address provided by you or the bankers details if provided by you

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Which password should I use to register ????

During registration you may choose any passwordof your choice for registration on this site and you can use the same only on this site. You are strongly advised not to use the passward associated with your valid email ID and advised to create a new password for this site for your own security.

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can I use some other user name instead of my personal email ID as user name ????

No, You can not and should not use any other user name instead of your valid e mail ID as user name for using this site .

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How I can find a listed item I am looking for ????

You can find from the listed items by surfing on the pages of the site and using the links on pages linking to the items where you have the interest. On reaching the item of your interest you can select the item you are interested in and have a good look on all the details provided for the listed item before considering to place a bid on the item.You can even check the current status of the listed item.You can also use the search for finding the results nearest to your location by serching for state or district and can directly find a listed item if you have noted the listed item ID details.

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How I can place a bid on a listed item ????

In case a listed item seems to be of interest to you, you may follow the links to reach to the details page for the said listed item and after through checking and as an advise you may also physically inspect the item at location details / any other details provided by listing organisation. You may click to bid whereby you will be asked your email ID and registered ID ( In case you haven't yet registered kindly register to proceed further). You can then fill the bid amount and confirm the same. You will have to provide either the transaction ID or the scan ( which may be provided by the bank from where you have deposited the earnerst/security money in account of isalvageauction.com in cash(by i banking) or through net banking from your own account and if same is not provided by your bankers then you will have to load the cash deposit confirmation slip issued by your bank in form of a picture or scan. pl. note the scan/picture file size should not be more than 300 kb which can be done by compressing the same) In case you still can not upload the scan this way, you will have to contact the isalvageauction.com with email to inbound@isalvageauction.com with attachment of scan/picture.Press submit button and your bid will be placed for approval after verification of payment by isalvageauction.com as soon as payment details are got confirmed from concerned bankers.

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Are there any charges for placing a bid on an item ????

Yes, the charges for participation are as per the terms and condtions for use by the bidders for insurance/Govt. sector listed items. You will have to deposit an amount not less than 15% of the minimum expected quoted price tag set against respective item of listing by the item listing organisation with isalvageauction.com and the mode and method will be communicated to you as you get yourself registered through an e mail to your registred e mail ID. The said anount is a security amount only for placing the bids and to allow only genuine bidders for participation in the bids. The said amount is refundable in case you do not become a sucessful / approved bidder by the item listing organisation subject to deduction of Rs 150.00 as administrative charges and in case you are approved by the item listing organisation www.isalvageauction.com will be charging fees of 1% of the highest bid quoted by you for the said listed item plus Rs 150.00 as administrative charges and the refundable earnerst/security money will be refunded in such cases to the item listing organisation as per terms and conditions.

It is pertinent to mention here that the administrative charges are for catering the official expences of isalvageauction.com and for postage/ bank charges etc. applicable for each transaction.

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What is TRANSACTION ID / SCAN and how to to proceed further ????

Transaction ID is the ID generated by the bankers on collecting the cash for i transfer of fund for their offical use. The same confirms that your cash deposit has been made sucessfully to the intended account. You can request for the same from bankers and if same is provided you can quote the same before submitting your bid. However in case your bankers do not provide you the same then you will have to upload the cash deposit confirmation slip in form of scan/picture having file size not more than 300 kb. You can also use net banking faclility from your account and may transfer amount directly to our account and use the transaction ID of the same.

Out team will verify the payment from our bankers and on confirmation of genuiness your bid will be verified and will be listed as verified bid.

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What is meant by expected amount & who has quoted the same ????

The expected amount is quoted by the item listing organisation and is a reference for the bidders. Bidders may bid for the listed item at amount lower or higher than the expected amount by the listing organisation. The same will also be an guide for establishing the earnerst/security money to be deposited by the bidder Margin money will be 15% of the expected amount for the listed item by the organisation. subject to terms and conditons for bidders and uploaders of insurance/Govt. sector.

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Can I quote value lower than expected amount ????

Yes, Of course you can but the same can not be lower than the price quoted by any other bidder.

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I did quote a value but the message displays that "you can only increase the bid amount" why is so ????

Some other bidder may have already quoted bid for same amount or amount higher than your bid amount, you may therefore reconsider your bid and may again participate in bidding process.

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Can I agian revise my quoted bid ????

YES, you can revise your bid upwardly only any number of times. Also if your first bid has been verified then you will not be prompted to fill the TRANSACTION ID/SCAN and all your subsequent bids will automatically get verification for the said listed bid.

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Are there any suggestion for the bidders ????

Well we suggest that if you are interested to participate in any bid item seriously then you should first of all register yourself as Insurance sector bidder which is free of charges.This registration will be for once only and you can use your email ID and password to particiapate in any listed bid under insurance/Govt sector listed items. Once you find a listed item which is of interest to you should participate in the bid at an early stage of bid process ,by even quoting a lower value than you may finally intend to quote for the listed item, whereby requirements of deposit of earnerst/security money are completed and you get verification for yourself for the bids for the listed item. This way you will be able to revise your bids any number of times for the listed item online and will not be at risk to be disqualified for not having bid verification for the listed item and can revise the bid till dying moments of the bid close time. As in most cases the item listing organisations may not extend the time for the listed bid which is their sole discreation. THEREBY EARLY PARTICIPATION IN A LISTED ITEM IN WHICH YOU HAVE INTEREST WILL GIVE YOU BETTER CHANCE OF GETTING THE DEAL FINALISED IN YOUR FAVOUR. Though you may quote value lower than the expected value of the listing organisation as per your assessment of the listed item, but do quote a reasonalbe realistic value for the listed item as in case there is a poor participation the listing organisation may terminate the bid without assigning any reason which is for all cases the sole discreation of the item listing organisation.

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How Can I again reach to same items where I had placed my bids ????

The easiest way is to log on to your account available on the home page which shows the list of all the listed items where you had placed your bids for insurance /Govt. sector and you can by clicking the particular item can directly reach to the details page of the desired listed item and can place your revised bid if you consider to do so. In your user account you can have the summary of current bidded values placed for the listed items on each refresh of the page.

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Where is my personal user account access ????

You can log on to your personal user account from the home page and will give you the current status of the listed items in which you had participated.

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Do I own the item on closure of the bid time ????

No, you do become a prospective candidate and the same will be as per the terms and conditons set by www.isalvageaucton.com and any other additional conditons set by the item listing organisation. If you are the highest quoted bidder for the listed item then you become the most prospective candidate for the listed item which will be subject to final approval by the item listing organisation.

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What if some other bidder puts higher value and beomes the winner ????

If some other bidders is approved by item listing organisation and you become unsucessful candidate you can try for other listed items a fresh. IF you become unsucessful candidate then the earnerst/security money deposited by you with us will be refunded back to you (After deductions if any as per the terms and conditons of use) to either your bankers directly or through cheque by registered post/courier at address provided by you at time of registration.

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What is meant by verified and awaiting verificaion in bids corner ????

Verified bids are thoese where the bidders who placed their bids have positvely deposited the earnerst/security money of not less than 15% of the expected value quoted for the listed item by item listing organisation and the same stands verified by isalvageauction.com from their bankers. Awaiting verification are those where the bidders have on line informed www.isalvageauction.com by sending details at time of placing a bid on a item listed but genuineness of the same is yet in process ofverification for genuniness of the deposit of earnerst/security money by isalvageauction.com from their bankers.

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I have placed the bid but screen still shows my placed bid as awaiting verification. When it will be verified ????

Well it may take upto one full woring day and may get delayed for any unforeseen reasons beyond our control. For this reason only we VERY STRONGLY advise that you deposit earnerst/security money well in advance before the close of the bid which has minium period of listing on the site for a fortnight.

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What are the terms and condtions ????

You can view the terms and conditons for bidders by following the link from FAQ main page and even from the link on above line.

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I still have not found the question/answer I had been looking for. Where I can now find the answer ????

IF any of your questions still remain unanswered then we suggest you to visit our contact us page and feel free to submit your question. Our team will look into it and if able to answer will respond to you with answer in time.

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