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Event Terms & Conditions :-
- All vehicles are sold on "As is where is basis"
- All vehicles must be inspected by the bidder / buyer before the auction & bidding
- The bidder will be liable for transfer of vehicle at his own cost
- Buyer fees shall be applicable in these auctions
- All issues related to RTO needs to be checked before bidding like RTO Objection / hold etc
- Year of Manufacture and Dealer Liability (if any) will have to be confirmed by bidder himself before bidding.
- Minimum 10k deposit in SAMIL for 2W/3W is must for participation in auction. For other category of vehicles minimum 20k/ deposit is required. Buying limit will be assigned as per available deposits
- 10K per vehicle against deposit will be forfeited in case of default for making payment of approved bids and ID will be restricted for participation as per seller norms
- All auctions are Post approval basis
- Indemnity / Bond / Undertaking if demanded by Seller will have to be fulfilled by Bidder / Buyer
- Parking charges applicable as per seller's terms & conditions. Buyer needs to check the same with respective seller before placing the bid
- Bids once placed cannot be cancelled. Winning bids will be valid till month end
- Successful bidder is to note that in case of non- payment of balance amount by him within the specified time, his initial deposit will be forfeited, and ID will be blocked from participation in auction in future and the vehicle will be resold to any other person at the sole discretion of Bank Payment terms: As prescribed by each Bank/NBFC
- Availability of Form 36 & other transfer related documents need to be checked with seller before bidding.
- Seller has the right to reverse approval given for sale at any point of time
- Additional TCS / taxes applicable on transactions as per existing Govt. Of India rules. Please refer to seller for details.
- Seller reserves the right to accept or reject the offer/bid at any time without assigning any reason whatsoever.
- Release letter will be provided after submission of Documents as required by seller, time of release will be as per seller policy
- Buyer Pan-Aadhar Mandatory to be linked, also buyer's Pan-Aadhar if found Non operative then have to pay 5% (or applicable penalty) TCS.
- Customer/Borrower KYC not provided by bank.
- Form 36 will be provided by the few NBFC's as per their company policy. Buyer needs to check and get confirmation before bidding
- Payment to be deposited within 48hrs from the time of approval.
- Successful buyers are required to take delivery as per release date mentioned in release letter. On any delay, in taking delivery of the asset after the date mentioned in the Release Order, bidder will be liable to bear the parking charges as applicable as per rules and policy of yard. Seller has no role or liability for the payment of parking charges after the release date
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