General Conditions of Sale by Auction

Inspection On

GENERAL CONDITIONS OF SALE BY AUCTION

1.  Each intending bidder shall have to Submit Tenders along with CMD of Rs. 25,000/- (Refundable) in the form of DD A/C Indian Maritime University, Mumbai Campus, along with Entrance Fees Non-Refundable Rs. 100/- per head upto 11am on 30.03.2012.

2. Tenders will be opened at 11.15am on 30.03.2012 by the office of Deputy Director

LBS College of Advanced Maritime Studies & Research.

3. The Auction will start with the highest tender offered as initial starting bid.

4. The highest Auction Bid will be accepted subject to conformation by the Deputy

Director, LBS College of Advanced Maritime Studies & Research, Hay Bunder

Road, Mumbai 400 033.

5.  All the lots are sold subject to reserve price fixed by the competent authority.

6. Any lot can be withdrawn from the auction sale by the “Deputy Director LBS

College of Advanced Maritime Studies & Research, Hay Bunder Road, Mumbai

400 033”Administration without assigning any reason.

7. Lots may be sold bigger, smaller or joint lots than those mentioned in the auction

Catalogue.

8.All goods are sold in the condition they stand i.e. “AS IS WHERE IS BASIS”. The

quantities, qualities, sizes, measurements, number and weights, whether announced

verbally at the time of sale or specified in the catalogues are approximate. All goods

are sold on the assumption that the bidders have inspected the goods and know what

they are buying whether they have actually inspected the goods or not. Neither the

Auctioneer nor the LBS College of Advanced Maritime Studies & Research,

Mumbai give any guarantee, warrantee, or undertake any responsibility for make,

manufacture, description, quality, condition, size, weight, grade, accuracy,

soundness & completeness etc of the goods.

9. No sale shall be invalidated by reasons of any defect or fault in any of the goods or

lots, by reasons of any defect or fault in the description thereof in the catalogue or

particulars or faults in or error in description.

10.The successful bidder shall have to pay 33.33% of full amount at the fall of

hammer. If the highest bidder fails to pay required earnest money deposit / full

sale value the Bid shall be forthwith cancelled, CMD will be forfeited and the lot

to be re-auctioned.

11. The Deputy Director, LBS College of Advanced Maritime Studies & Research,

Hay Bunder Road, Mumbai 400 033 shall collect the balance of the amount of the

bid along with Vat (taxes & duties) at the rate in force to be paid on next working

day by the successful bidder by Draft “Indian Maritime University, Mumbai

Campus,” payable at Mumbai, who shall issue Delivery Order to the purchaser to

affect the delivery.

12. The purchaser shall take the delivery of the vehicle after getting transfer the vehicle

in his own name. The due RTO formalities as per the latest rules shall have to be

completed by the successful Bidder at their cost.

13. LBS College of Advanced Maritime Studies & Research shall affect the delivery of

the vehicle only after verifying the proper documentation

14. Special condition, if any, will be announced by the Auctioneer at each auction.

TENDER CUM AUCTION TO BE HELD ON 30.03.2012

TENDER FORM

To:

Deputy Director

LBS College of Advanced Maritime Studies & Research.

Hay Bunder Road,

Mumbai 400 033

Tender Cum Auction Dt. 30-03-2012

I/We hereby agree to abide by the said General Terms & Conditions, Instructions and Special Conditions and submit our Tender Unconditionally.

Sr. No. …………………………………………

Tender Amount Rs.: …………………………….

(Tender Amount in words……………………………………………………………………

…………………………………………………………………………………………………)

Tender E.M.D. Amount Rs.: ………………………………….

Name of the Bank: ……………………………………………

D. D. No. /Date: ………………………

From: …………………………………………………………………………………………………..

…………………………………………………………………………………………………………

…………………………………………………………………………………………………………

Place: ………………

Date: /03/2012

Signature of the Tenderer