Terms and Conditions-Participation in Sal Seed Auction | Orissa Forest Development Corporation
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Terms and conditions - Sal Seed

1) The act of submission of bid in auction shall be taken as sufficient proof of acceptance by the purchaser of all the terms and conditions of sale herein contained and shall be binding on him.

2) Where the participants in auction is a company or partnership firm, copies of memorandum and articles of association and certificate of registration or the deed of partnership, as the case may be, should be produced in original and photo copies the proof should be filed before the Chairman-Cum-Managing Director, Odisha Forest Development Corporation Limited for record. The person signing the bid sheet or executing the agreement must satisfy the OFDC. Limited about his power to do so on behalf of the firm or company.

3) Odisha Forest Development Corporation limited is not bound to accept an offer and reserves the right to reject any or all the offers without assigning any reason thereof.

4) The Chairman-Cum-Managing Director, OFDC. Limited at his discretion may at any stage call upon any bidders to furnish evidence of his having any industry using sal seeds.

5) Each participant shall furnish full name and address and the person signing the register/paper should give his full name and specify his status and capacity in relation to the bidder.

6) Each participant shall furnish earnest money deposit (EMD) in shape of account payee bank draft for Rs. 50,000(Rupees fifty thousand) only drawn in favor of OFDC.limited and payable at any nationalize bank at Bhubaneswar. The OFDC. Limited reserves the right to accept earnest money in cash in exceptional cases and when so accepted the relevant money receipt shall be enclosed to the offer. In case the offer is accepted, EMD of the bidder shall be adjusted towards the security deposit (SD)/ sale value. The EMD will be refunded in shape of account payee bank draft drawn on any nationalized bank located at the registered office of the bidder, in case of un-successful Bidder after deducting bank commission there off.

7) The OFDC. Ltd. Reserves the right to allot an additional quantity of additional quantity of 25% above the quantity of sale seed in auction bid by a successful person. Name of the person and quality to be allotted from different place shall be determined keeping the application of the Bidder (S) in view.

8) The participant in auction shall quote the rate division-wise on ex-central godown basis exclusive of all taxes, duties, levies fees etc.

9) The offer of the auction shall remain valid for a period of 45 (forty five) days from the date of auction for acceptance.

10) The successful bidder shall be required to furnish security deposit in shape of account payee bank draft drawn on any nationalized bank at Bhubaneswar in favour of OFDC limited for an amount equal to 25% of the estimated value of sal seed reduced by the amount of E.M.D. adjustable towards such S.D. for the quantity allotted in his favour within 7 (seven) days from the date of receipt of allotment order and execution of agreement.

11) Failure to deposit security deposit and execute agreement within the specified period of 7 days shall entail forfeiture of E.M.D. / S.D. and that the OFDC limited shall be at liberty to dispose of the sal seed in whatever manner it deems fit. In the event of any shortfall in sale price due to such resale, the differential amount shall be realized from the approved purchasers as arrears of land revenue.

12) The security deposits it liable to be forfeited / retained either wholly or in part in case of any breach of the terms and conditions of sales by the successful bidder without prejudice to any other action by the OFDC limited to redeem its loss arising directly or indirectly out of the act of breach of terms & conditions of the bidder. The quantum of such loss as determined by OFDC limited. Shall not be questioned by the purchaser in any forum/ court.

13) Gunny bags will be supplied by the purchaser

14) The purchaser or his authorized representatives duly approved by the concerned divisional manager, OFDC Ltd. on notice by an officer of the OFDC Ltd. shall be present to accept weighment of bags and the quantity of bags and the quantity of seeds.

15) No complaint (s) regarding quantity and quality of sal seeds shall be entertained subsequently nor shall OFDC Ltd. be responsible for any deterioration due to delay that may take place in dispatch/lifting of purchased goods.

16) In case of ex-godown delivery, all charges for weighment and bagging of the stock at the time of delivery and loading of goods in truck etc. shall be borne by the purchaser.

17) The purchaser shall be required to pay full sale value of allotted stock in maximum of one installment by 31.08.04 before lifting.

18) Preferably the purchaser should pay the entire sale value of allotted stock together with statutory taxes and levies if any in one installment. All payments shall be made through account payee bank draft drawn in favour of OFDC. Limited on any nationalized bank at Bhubaneswar.

19) In the event of failure of the purchaser to make payment of dues on or before the scheduled date (condition - 19) interest will be charged @ 15% per annum up to a delay of 15 days from the due date of payment, while interest @ 18% per annum from due date will be charged if the delay is more than 15 days and OFDC. Limited will have the right to rescind the contract from the date of default along with forfeiture of security deposit without giving any notice and resale the entire or balance stock as the case may be and to recover the loss which it may sustain on account of resale from the defaulting purchaser as arrear of land revenue or from his other dues lying with OFDC. Limited.

20) The lifting of the allotted stock shall be completed within 90 (ninety) days from the date of payment of sale price and taxes etc.. Taxes and duties etc. as applicable is to be paid by purchaser to divisional manager concerned before lifting the stock. In case of failure to lift the allotted stock within 90 days, an extra period of 30 days may be allowed for lifting on payment of godown rent and watch & ward expenses by the purchaser @ Rs. 100 per month for this period, how ever the OFDC limited will not be responsible for deterioration in quality, loss in quantity and disposition of allotted stock due to such prolonged storage if the purchaser fails to lift the stock within the aforesaid extra period of 30 days.

21) The purchaser will have no claim over the purchased stock on expiry of 120 days of issue of lifting order & OFDC limited will be at liberty to resale the on lifted stock and recover the monetary loss that it may have sustained on re-sale.

22) Sale of sal seed by way of auction in Odisha in ex-godown basis will be subject to Odisha sales taxes and other taxes as applicable from time to time.

23) If before taking delivery of the goods, the purchaser can't produce a certificate in form number 27 C as per rule 37 C under Income tax act valid for a period of agreement made with him, Income Tax at the prevailing rate along with surcharge if any will be collected at source U/S. 206 C of the I.T. act or such an amount payable towards sale value of sal seeds as applicable under the law will be deposited with the central govt. at the credit of the buyer within next 7 days for which a tax deduction certificate will be issued to buyer in form number 27 D under rule 37 of the said act.

24) The bidder shall be bound to purchase the entire stock offer including excess quantity as per condition number 9.

25) Any contract by the successful bidder with a third party in respect of the sold stock will have no binding effect on OFDC Limited.

26) Delivery of the sal seed for sale will be given on "AS IS WHERE IS BASIS" and no selection or rejection shall be permitted.

27) Quantity offered for sale is approximate. The OFDC.Ltd. will not be responsible if they could not make available this quantity.

28) The courts of Bhubaneswar only have the jurisdiction to decide matters arising out of this contract or arbitration and that no litigation of any nature shall be instituted by the parties in any court at any other place.

29) All resultant dues against a purchaser in respect of this auction shall be treated as arrears of land revenue and will be recovered as per provisions of the Odisha Public Demand Recovery Act, 1962.

30) Acceptance of bid of defaulted purchasers of sal seed of previous years shall be subject to the recovery of loss if any made by Odisha Forest Development Corporation Limited.

31) Any communication/ letter sent to the purchaser by registered post will be deemed to have been delivered even if it is received back undelivered.

32) The OFDC. reserves its right to negotiate with highest or any other bidder after the auction

FOR ODISHA FOREST DEV. CORPN. LTD.

DIRECTOR (OPERATION)