Terms and Conditions-Timber Auction | Purchase Timber | Orissa Forest Development Corporation
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Terms and conditions : Timber

1) Each intending bidder/party shall have to deposit a sum of Rs 5,000/- as E.M.D in shape of cash or bank draft drawn on any nationalized bank in favour of DM concerned Depot before participating in the auction sale.The E. M. D amount will be adjusted towards S. D. In Case of successful bidder/ Party and refunded in case of unsuccessfull bider or party after the conclusion of the sale.In case of tender E. M. D shall be 5% of the bid ( S ) quoted or Rs 5,000 which is ever is higher for each lot.No negotiations will be made with the tenderer or bider after the tenders are opened or bid is over for a particular lot.

2) Any person biddinng in the auction on behalf an individual or party will have to produce power of attorney to the satisfaction of the officers conducting auction before commencement of the auction. Authoriesed person can not represent more than one party /bidder / purchasers for lots of a depot in a division during one auction sale. In case he is bidding on behalf of party, the memorandum/articles of association of concerned farm, party or company will also be submitted by him.

3) A minimum 20% of sale value as S.D will be realized on the fall of the hammer of an auction sale or acceptance of bid in tender sale. In exceptional cases of genuine hardship a maximum period of 7 days may be allowed to deposit the S.D at the discretion of the concerns D.Ms on failure to deposit the required amount of S.D with in the stipulated period such sales will be treated automatically cancelled and the lot/lots will be put to release and the E.M.D paid earlier shall automatically be forfeited to the OFDC Ltd.The defaulted parties may not allowed to participate in further auction and tender sales.

4) The S.D when fully paid will be adjusted towards the consideration amount or forfeited for the non fulfillment of the terms and condtions of the sale as the case may be.

(i) The purchaser has to lift the lot on full payment with in 30 Days from the date of issue of the ratification order.Under exceptional cases another 15 days time can be allowed by the D.Ms. on written request of the purchaser.If the party does not make full payment of the lot with in 45 days then his S.D will be for forfeited and the sale will be treated as cancelled and the lots will be disposed off otherwise without further notice at the risk of purchaser.Further loss if any sustained by corporation after adjusting the S.D will be realized from the purchaser out of amounts payable or refundable to him by D.M any dues of corporation still remaining unpaid will be treated as arear of land revenue and may be realized through certificate case.Each D.M will cerculate a list of defaulters against whom the corporation dues remained unpaid in his division in the form of a statement giving name and address of purchaser, Lot no. and year and amount remaining unpaid to all other D.Ms of OFDC Ltd.The original purchaser will not be allowed to bid on subsequent sales of such lot.

(ii) However the GM ( C) of zone concerned is authorized to allow the party to lift the lots upto 60 days after the date of issue of ratification order as per the recommendation of DM after realization of full/ sale value with 10% interest for the delayed payment in addition to deport rent and other dues if any for the defaulted period.