Frequently Asked Questions
- I visited your inventory page and now I want to buy a particular article. How do I buy it?
- Can I buy a vehicle before the bidding starts?
- What exactly is Proxy Bidding?
- Do I have to place a deposit before I bid?
- I was a successful bidder. When and how can I collect my equipment?
- What is Shriram Automall’s refund policy in case I am an unsuccessful bidder?
- I am not happy with my purchase. What can I do now?
- How many times can I bid during the event?
- What all documents should I carry at the time of registration?
- If I am successful during bidding, what is the service charge that I have to pay?
- What is the Payment policy?
We are happy you found something of your use in our inventory. The first step towards purchasing is to get registered for bidding. You can bid at the physical bidding site ,or through online. After this you can participate in our physical and online bidding events.
No, we don’t practise advance selling. Absolutely nothing is sold beyond bidding. Each article is sold to the highest bidder on the day of bidding. If however you are unable to make it to the bidding site, you can bid through the online medium or through Proxy Bidding.
Should you want to bid simultaneously on two items or you if you are unable to make it to the bidding site and still want to participate, you can avail the Proxy Bidding facility.All you need to do is send us in writing about the articles(s) you are interested in at………
Yes, at the time of registration, you are required to deposit an amount of Rs.19, 999. This is completely refundable in case you dint purchase anything at the time of bidding and in case you did, this amount is adjusted with the actual cost of the item you bought.
Successful Bidders are fully responsible for taking delivery of all Vehicle(s) or Equipment from Automall after full payment is made. No vehicle / equipment must be removed by the Successful Customer until all dues are paid in full and realized by the seller/Owner. He/she must remove his vehicle(s)/ equipments within next 15 days from the date of the event; else storage / parking fees @ 500/- (Rupees Five Hundred Only) plus applicable taxes per Vehicle or equipment per day will be applicable.
In case a registered bidder does not buy any vehicle or equipment, then the refund of RSD will be made immediately after the closure of the bidding process
Any cash received more than 19,999/- towards RSD will be refunded to unsuccessful bidder in the form of cheque or DD or NEFT transfer within 3 working days at any given branch location subject to submission of Bank particulars by the customer.
For NEFT transfer the details required are: IFSC code Account No., Bank Name, Bank Branch Name, Bank Branch Code, Beneficiary Name (Customer Name -MUST be same as per ID proof given) And the ID / address proof (given for registration ) and bidder’s name in bank should be same.
RSD will be refunded to successful bidder only after realization of the entire sale proceeds by the Seller and the confirmation of the same by the seller and after adjusting, the applicable service charges, if any.
Bidders should physically inspect the vehicle(s) and/or equipment before buying. Dispute pertaining to year of manufacture, documents, condition of vehicle/assets, etc. will not be considered after successful bid. The inspection can be done by any person on giving his / her business card or registration.
The bidder will be entitled to bid up to 10 times of the RSD amount (Refundable Security Deposit amount of 19,999/-). The customer can enhance his bidding limit by depositing additional RSD anytime during the bidding process.
For registration the bidder must present personally with copy of PAN Card (mandatory) and Address Proof document i.e., Passport or Driving License or Voter’s ID or Adhaar Card.
The successful bidders will pay SAMIL Service Charge of ` 1000/- or 1% on Final bid Amount whichever is higher, plus applicable Service Tax @ 18% on the Service Charge. The Service Charge is not negotiable and must be payable on all acquisitions.
All acquisitions made by the Successful Bidder are subject to applicable VAT or sales tax and other statutory tax applicable and RTO charges as per law in force, and the same are payable by the Successful Bidder exclusive of the Final bid amount.
Successful bidder has to pay a minimum of 10% of the Bid Amount per vehicle / equipment on the same day to Seller/Owner. Otherwise the bid taken will not be considered and RSD amount will be forfeited without further intimation.*
The balance should be paid by the Successful bidder within next 7 (seven) days from the date of declaration as successful bidder by the Seller/ Owner*
A delayed interest @ 18% will be charged against any amount due and payable by the Successful bidder beyond 7 (seven) days from the date of the event, subject to a maximum waiting period of 15 (fifteen) days from the date of declaration as successful bidder by the Seller/ Owner.
Default beyond the stipulated 15 days, will lead to deal cancellation and forfeiture of RSD paid and the vehicle/equipment/machinery will be re-sold without further information. Acceptance of payment on later date will be solely discretion of seller/owner.