TERMS AND CONDITIONS
Item Listing Organisation/ Up loader : is any real individual or legal entity( eg. Insuance cos,Govt. sector organisations, Ltd firms etc) who wishes to dispose off/ sell their salvage / assets through online auctions on this website and who has assigned isalvageauction.com ( NARESH KUMAR TAGOTRA Surveyor & Loss Assessor Lic.No. SLA 44837) to provide the webspace on website and other related support services.
BIDDER – Any legal entity who is registered with isalvageauction and who makes or places a bid on the website to buy the listed item is considered as a Bidder. One individual can represent as a bidder on his own behalf and on behalf of other legal entities provided he registers with isalvageauction separately in those capacities. Successful Bidder is that Bidder whose name is approved and he fulfils the conditions set by the item listing organisation and is finalised by the item listing organisation.
USER – Any legal entity who uses the website www.isalvageauction.com and/or the related services provided by isalvageauction is considered as a user.
INSURANCE SECTOR – All items listed under insurance sector will be for disposal by the insurance companies/Govt. sector organisations/ Recognised pvt and Ltd Firms registered in INDIA (The said organisations may declare for listings as genuine in form of their own document confirming genuineness and their own terms and conditions for sale ) OR Through isalvageauction.com (whereby isalvageauction.com may take suitable steps to check the genuineness of the listed item ) In case the item is listed by isalvageauction then the provision of rejecting the bids for listed item will be the sole descrition of isalvageauction.com on behalf of the requesting party for listing the item.
PRIVATE SECTOR – All items listed under Private sector will be for disposal by any individual owner and isalvageauction has no control on the items listed by them and is a free service and no genuniness of the uploader/bidders of private sector listings can be warranted by isalvageauction.com.
GENERAL TERMS AND CONDTIONS
The web site www.isalvageauction.com provides no warranty, expressed or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any purpose of any information contained in listed items uploaded by item listing organisation, on or through this www.isalvageauction.com shall not have any liability for any losses, in contract, warranty and tort or otherwise, incurred in connection with the electronic transmission of any information/deals, any decision made, action taken or inaction by any party in reliance upon the information contained in this Web site.
Owing to the technical features of the Internet, isalvageauction does not endorse or accept any liability for the contents of linked Web Sites. The information and opinions contained in isalvageauction's Web site are for informational purposes only and subject to change without prior notice.
www.isalvageauction.com shall not be liable for any failure or delay in performance due to any cause beyond its control including fire, strike, go-slow, lock-out, closure, theft, dislocation of normal working conditions, internet or network non-availability, accident, war, riots, civil commotion, political upheaval, epidemics, break-down of machinery, any terrorist activity, any natural calamity, adverse weather or climatic condition, or any other causes or conditions beyond the control of isalvageauction, whether directly due to or in consequence of the aforesaid causes and the existence of such causes or consequences the item listing organisations mandatorily shall operate to extend the time of performance till the cause of delay shall have ceased to exist.
www.isalvageauction.com runs its business on the basis of a dynamic Web Site. Isalvageauction has outsourced server space from Yahoo web hosting services and hence shall ensure the smooth running in all good faith and intention. However isalvageauction will not be held responsible for any failure of power, Network, server, hosting server, Internet connectivity, ISP or otherwise at users end or at isalvageauction's end directly or indirectly effecting online method of Bidding.
isalvageauction takes no responsibility of the listed item details ,quality, quantity, documentation details of either buyers or sellers. Both the buyers & sellers agree to defend indemnity and hold harmless isalvageauction from any loss, damage, cost and expenses caused by any reason for any transaction through this website. In no event shall isalvageauction be liable for any loss of the transaction by business, revenues, profit, costs direct, indirect and incidental, consequential and/or punitive damages of any nature. Both the buyers and sellers agree to have discussed all the related matter regarding the transactions and have understood in full that isalvageauction has provided only web space for listing the item and monitoring the earnerst/security money and has nothing to do any further. Since isalvageauction does not possess knowledge base of the listed items under transaction both the parties agree that the matter contained in the listed items as a part or as a whole does not violate any applicable law. isalvageauction is only an service undertaken by Naresh K Tagotra Surveyor & loss assessor for assisting insurers / Govt. Agencies/ Recognised firms for online, open and tranparent disposal of the salvage through the website, and is not and cannot be a party to or control in any manner any transactions between the Seller/Buyer and the Bidder
These terms and conditions are governed and construed in accordance with the laws of Union of India. Users hereby irrevocably consent to the exclusive jurisdiction and venue of courts in JAMMU, JAMMU & KASHMIR , India in all disputes arising out of or relating to the use of the services and the website.
Users agree to indemnify and hold isalvageauction and its associates harmless from any dispute /claim, demand or damage asserted by any third party due to and arising out of use of services and the website.
All listed items on the website are for disposal on “AS IS WHERE IS BASIS” and Item listing organisation will have all the rights to reject any or all the bids without assigning any reason thereof at any stage of the listed item.
The highest bidder does not get any right to demand acceptance of his bid. Item listing organisation reserves the right to accept/reject/cancel any bid or withdraw any listed item at any stage from auction even after acceptance of bid, without assigning any reason thereof. In the event of such rejection, cancellation or withdrawal, Item listing organisation shall not be responsible for any damages/loss to the successful bidder on account of such rejection, cancellation or withdrawal.
isalvageauction reserves the right to modify, amend, suspend or discontinue any aspect of the services or the website at any time without any prior notice.
isalvageauction reserves the right to amend any or all of the terms and conditions without any prior notice at any time at its sole discretion and display the same on the website. Accessing the website and/or using the services shall constitute acceptance of the terms and conditions including the amendments.
All of the terms, agreements, covenants, representations, warranties, and conditions of these Terms and Conditions are binding upon, and inure to the benefit of and are enforceable by, the parties and their respective successors and assigns.
All users of isalvageauction.com agree to comply with all applicable laws and regulations (including those relating to taxes) regarding your use of this Site and your sale or purchase of items on this Site. You agree not to use this Site or any content contained in it for any illegal or inappropriate activities. Such illegal activities include, but are not limited to, harassing or bribing others, misappropriating or copying the contents of this Site or any listing, or selling fraudulent or counterfeit items. You shall not submit, publish, distribute, or transmit through this Site or its e-mail links any content that is spam, libelous, defamatory, obscene, pornographic, threatening, invasive of privacy or publicity rights, abusive, illegal, hateful, racially or ethnically discriminatory, or that would constitute or encourage a criminal or civil offense, or that would otherwise give rise to liability or violates any law. www.isalvageauction.com does not warrant the prompt editing or removal of questionable content after online posting or assume liability for any action or inaction with respect to conduct, communication, or content on or through isalvageauction.com. You agree that you will not submit, publish, distribute, or transmit anything through this Site that will violate or infringe, or cause isalvageauction to violate or infringe, the intellectual property or other rights of any third party, including copyright, trademark, trade secret, privacy or other proprietary rights. You may not use this Site to send unsolicited advertising, promotional material, or other forms of solicitation to other users. Sale price manipulation of any kind by users is strictly prohibited, including, without limitation, bidding through a secondary account or other party, by communicating with other buyers. isalvageauction may terminate any user's continuing use of the Site for any reason, including isalvageauction's belief that a user is manipulating the bidding process.
You agree that any action at law or in equity arising out of or relating to these Terms and Conditions shall be filed only in the courts of JAMMU, India and that you hereby consent and submit to the exclusive jurisdiction and venue of such courts. No action arising under or relating to these Terms and Conditions may be brought by either party more than one years after the cause of action has occurred.
- ADDITIONAL TERMS AND CONDITIONS FOR PRIVATE SECTOR BUYERS AND SELLERS ............ All have to comply with registration conditons applicable under the sector and buyers have to comply with GCA and GA conditions as explained in FAQ pages of the site.
ADDITIONAL TERMS AND CONDITIONS & FEES SHEDULE
|FOR INSURANCE SECTOR / UPLOADER
||FOR INSURANCE SECTOR BIDDERS
BY REGISTERING ON THE WEB SITE YOUR ORGANISATION UNDERTAKES TO PERFORM TASKS FOR THE LISTED ITEMS AS BELOW:-
- That you will define expected value of the listed item which is reasonable in INR value.
- That you will on close of bid period and on getting mail from isalvageauction.com providing details of the three top higest bids for the listed item will take suitable decision on the same in shortest possible time and reply for the decision made to isalvageauction.com on mail ID firstname.lastname@example.org.
- You will in addition to 2 above will also log into your user account and select the said listed item as approved, thereby enabling the further process to roll forward.
- You will make efforts for disposal of salvage to approved winner and if he complies with all your requirements and is delivered the salvage, you will be further required to inform for the same to isalvageauction.com by sending mail at email@example.com confirming the same for final close of the listed item and to complete the process of refunds to the unsucessful bidders.
- Your organisation may list additional terms and conditions for the listed items by attaching a word document and may also contain additional details of the listed item.
BY LISTING ANY ITEM , YOUR
ORGANISATION HEREBY CONFIRMS THAT YOU HAVE ASSIGNED AND AUTHORISED Mr. NARESH KUMAR TAGOTRA (SURVEYOR AND
LOSS ASSESSOR LIC .NO. SLA 44837) FOR LISTING THE ITEM ON WEB SPACE FOR ON LINE BIDDING. FURTHER YOU HAVE AUTHORISED Mr. NARESH KUMAR TAGOTRA
FOR ISALVAGEAUCTION.COM TO COLLECT/RETAIN ( RETAIN DURING THE LISTED PERIOD TO TILL FINAL CLOSE
OF THE LISTING BY INSURERS PLUS ADDITIONAL UPTO 30 DAYS PERIOD ) AND REFUND THE MARGIN MONEY COLLECTED FOR THE
LISTED ITEM , AFTER DEDUCTIONS FOR THE APPLICABLE ADMINISTRATIVE CHARGES IN ADDITION TO THE APPLICABLE
FEE AS APPLICABLE FOR WINNER AND UNSUCESSFUL BIDDERS.
BY LISTING AN ITEM ON THE SITE ISALVAGEAUCTION.COM YOUR ORGANISATION CONFIRMS THAT MARGIN MONEY FOR THE LISTED ITEM WILL NOT BE LESS THAN 10% AND NOT MORE THAN 15 % OF THE VALUE AS EXPECTED VALUE LISTED BY YOU FOR THE LISTED ITEM . THE APPROVAL FOR BIDS WILL BE GIVEN BY ISALVAGE AUCTION.COM ON SUCESSFUL REALISATION AND VERIFICATION BY ISALVAGEAUCTION.COM AND AMOUNT OF MARGIN MONEY ACCEPTABLE WILL BE THE SOLE DESCRITION OF ISALVAGEAUCTION.COM.
ON LISTING A ITEM ON THE WEB SITE YOU HEREBY CONFIRM THAT THE LISTED ITEM IS NOT VIOLATING ANY LAW BOTH NATIONAL ( INDIAN) OR INTERNATIONAL AND WILL BE YOUR SOLE RESPONSIBILITY AND ISALVAGEAUCTION WILL IN NO CASE BE HELD RESPONSIBLE FOR ANY BREACH OF LAW BY THE ITEM LISTED BY YOU.
BYREGISTRING ON THE WEBSITE YOUR ORGANISATION UNDERTAKES TO INDEMNIFY ISALVAGEACUTION FOR THE FEES APPLICABLE AS PER FEE SHEDULES FOR UPLOADERS AND BIDDERS FOR ALL CASES BY RECOVERING THE SAME FROM THE WINNERS BEFORE FINALISATION OF THE DISPOSAL OF THE SALVAGE.
wef 01.04.2009 (it is subject to change without prior notice)
NO FEES WILL BE CHARGED FROM THE ITEM LISTING ORGANISATIONS EXCEPT IN CASE WHRE THE ITEM LISTING ORGANISATION REJECTS AND CLOSES THE LISTED ITEM FOR SUCH CASES :- where no bidding had yet been placed by bidders there will no charges and if bids had been placed for the said listed item and at least one bidder has placed bid amount not less than 90 % of the minimum quoted
price by you for the listed item only then the insurers will have to bear administrative charges @ Rs 100.00 (INR) per no of bids placed for the said listing(As per counter for no of bids placed on the listed item) till rejection of the bid plus taxes as applicable if any.
( Both for verified and non verified cases). The item listing organisation undertakes to pay The said amount to isalvageauction.com within a month of rejection of such listed item.
ON REGISTRING ON THE WEB SITE YOU HEREBY CONFIRM TO AGREE TO ALL THE TERMS AND CONDITIONS FOR PARTICIPATION FOR THE BIDDING ON THE LISTED ITEM AND AGREE TO PAY MARGIN MONEY @15% OF THE AMOUNT EXPECTED BY THE ITEM LISTING ORGANISATION AND FURTHER AGREE TO PAY RS 500.00 inclusive of GST AS ADMINISTRATIVE CHARGES FOR EACH LISTED ITEM ON WHICH YOU PLACE A BID AND ADDITIONALY AGREE TO PAY FURTHER 1% plus GST OF THE HIGHEST AMOUNT QUOTED FOR THE LISTED ITEM BY YOU WHICH IS SUBJECT TO THAT YOU BECOME THE APPROVED WINNER OF THE SAID LISTED ITEM . YOU FURTHER AUTHORISE ISALVAGEAUCTION TO DEDUCT THE SAID FEES FROM THE MARGIN MONEY DEPOSITED BY YOU AND ALSO UNDERTAKE TO INDEMNIFY ISALVAGEAUCTION FOR THE APPLICABLE FEES AS REFLECTED ABOVE UNDER ALL CIRCUMSTANCES.
ON BIDDING ON THE LISTING ITEM BY DEPOSITING MARGIN MONEY(SECUTITY MONEY)IN INR (INDIAN RUPEES) WITH ISALVAGEAUCTION.COM YOU HEREBY AGREE THAT THE SAID SECURITY MONEY IS NOT REFUNDABLE IN ANY CASE IF YOU ARE APPROVED AS WINNER BY ITEM LISTING ORGANISATION AND THE SAID MARGIN MONEY WILL BE TRANSFERED TO THE ITEM LISTING ORGANISATION AFTER DEDUCTIONS AS APPLICABLE. IN CASE YOU ARE NOT SUCESSFUL THE MARGIN MONEY WILL BE REFUNDED AFTER DEDUCTION OF RS 500.00 inclusive of GST AS ADMINISTRATIVE CHARGES BY ISALVAGEAUCTION.COM AND THE BALAMCE MONEY WILL BE FORWARDED TO YOU AFTER FINAL APPROVAL BY THE ITEM LISTING ORGANISATION FOR THE LISTED ITEM AFTER 30 DAYS OF FINAL DISPOSAL OF THE LISTED ITEM. DURING THE SAID PERIOD ISALVAGEAUCTION MAY USE THE SAID MARGIN MONEY IN ANY MANNER OF THEIR CHOICE AND YOUR REFUND WILL BE LIMITED TO PRINCIPAL AMOUNT DEPOSITED BY YOU LESS DEDUCTIONS AS APPLICABLE.
ON PLACING A BID ON ANY LISTED ITEM YOU CONFIRM THAT YOU HAVE DEPOSITED MARGIN MONEY NOT LESS THAN 15% OF THE EXPECTED VALUE QUOTED BY THE ITEM LISTING ORGANISATION AND WILL SUBMIT THE PROOF OF SUCH DEPOSIT WHILE PLACING THE BID. ANY MISINFORMATION /SHORT INFORMATION PROVIDED BY YOU MAY LEAD TO NON VERIFICATION OF YOUR BID / REJECTION OF YOUR BID AT YOUR OWN RISK AND RESPONSIBILITY AND IN NO SUCH CASES ISALVAGEAUCTION WILL BE HELD RESPONSIBLE. THE REFUND IN CASE OF SHORT MARGIN MONEY i.e. IN CASES WHERE LESS THAN 15% IS DEPOSITED AS MARGIN MONEY WILL BE INITIATED AFTER YOU SUBMIT REQUEST FOR REFUND THROUGH OUR CONTACT US PAGE AND SUCH REQUEST WILL BE ENTERTAINED TILL SIX MONTHS FROM DEPOSIT OF SUCH AMOUNTS AND THEIRAFTER YOU WILL FORFEIT ANY RIGHTS ON THE SAID AMOUNT WHICH THEREAFTER WILL BE ON SOLE DESCRITION OF ISALVAGEAUCTION.COM. FURTHER FOR ALL SUCH ABOVE CASES THE ADMINISTRATIVE CHARGES WILL BE RS 500.00 (INR) AND WILL BE FINAL AND BINDING ON YOU.
isalvageauction may at its own decision approve a bidder even on their depositing earnerst/security money lower than 15% but the decision for the same will be th sole descrition of isalvageauction.com and will not be chanlangeable by any party.
wef 01.04.2018 (it is subject to change without prior notice)
BIDDING FEE IS RS 500.00 (INR) inclusive of GST AS ADMINISTRATIVE CHARGES FOR EACH LISTED ITEM ON WHICH YOU PLACE A BID AND ADDITIONAL 1% OF THE HIGHEST AMOUNT QUOTED FOR THE LISTED ITEM BY YOU WHICH IS SUBJECT TO THAT YOU BECOME THE APPROVED WINNER OF THE SAID LISTED ITEM.
For more details ref. FEES page of site