GENERAL RULES AND REGULATION GOVERNING CONDUCT OF ONLINE AUCTIONS ON THE “SERVICE PROVIDER” PLATFORM
be customer’s sole responsibility to ensure the security and privacy of the same and he/they would not hold the “Client” / “Service Provider” responsible in any manner whatsoever for any
This Online Forward Auction is being conducted for TATA TELESERVICES LIMITED (hereinafter referred to as the “Client’’) on
the Auction Platform of mjunction services ltd referred as “Service Provider”).
misuse of these user IDs and/or mechanism shall be provided subsequent to obtaining their Rules & Regulations and the
Password. Access to the auction to all the approved customers
written consent to Letter of Interest.
the General Payment of
Earnest Money Deposit (EMD) as decided by the start of the Forward auction will be one conditions for participating in the auction.
the client before of the necessary
The General Rules and Regulations provided herein govern the conduct of on line Forward Auctions arranged by “Service provider” on its Auction Platform. These rules cover the roles and responsibilities of the parties in the online Forward Auctions on the Auction Platform. Acceptance in-toto to these General Rules and Regulations governing conduct of online auctions, and Terms and Conditions for Sale of Materials by auction, of Tata teleservices limited is a pre–requisite for securing participation in the online auctions.
Customers hereby confirm that they shall commit to lift the item (being bid for) at the price entered by them in the auction engine AND at the terms and conditions specified herein by the Client. All Prices entered shall be legally binding on the customers. Customers are strongly advised to exercise due diligence while placing bids. Failure to honour the bids placed during online bidding shall render the customers liable for penal action as deemed fit by “Client” / “Service Provider”.
The key terms pertaining to the provided in the “Annexure-D”. advised to read through the same
online Forward Auctions are Prospective customers are
In the event of winning an allotment in the auction mechanism, the customer shall commit to fulfill outlined obligations under the contract.
ROLE OF “SERVICE- PROVIDER” “Service Provider’ is the agency (operator) primarily
providing the service of the Forward auction to the “client”.
Finalisation of the auction items in consultation with the client.
Defining of bidding rules for each auction in consultation with
4. Enhancing customer awareness of and
auction mechanism and
5. Input of the Auction items and defining
bidding rule in
Enlarging the customer base by introducing new customers.
Collection of EMD, Letter of Interest etc. from the willing
customers and forwarding the same to the Client. 8. Providing access to the approved customers to participate in the Auction. 9. Summarising the Auction proceedings and communicate the outcome to the Client. The responsibility of fulfillment of the contract rests between the customers and the client and the responsibility of the “Service Provider” shall be restricted to the extent of the services provided by them. ROLE OF CUSTOMER The role of the customer is outlined below:
The customer would participate in the auction with the aim of
bidding to secure the auctioned item in the auction.
The customer would be provided access to the
that the “User
by a “Password”. The ID” and “Password” is Customers are also
requested to change the “Service Provider” to keep
password allocated to them by the their confidentiality. However it would
The customers shall bid on the terms specified by the client & place their bid in the auction engine in the manner specified by “Service Provider”. The customers shall not stipulate any conditions on their own unless the terms of the client (the client’s terms & conditions) expressly permit such conditions being stipulated by the customer. Bids entered with conditions attached shall be considered Conditional bids & “service provider” retains the right of rejecting these bids even without intimating the client. BIDDING RULES The Bidding Rules refer to the information and terms defined specifically for a particular auction. The purpose of the Bidding rules is to provide approved customers with the information and terms specific to the auction in which they are bidding. This would include:
Definition of the unit bidding.
Start Time and duration of the auction.
Any extension of the duration of the auction in the event of
bids being received towards the end of the pre-specified duration.
Start Bid Price.
Specified Unit for Bidding.
Price Increments and any reduction in the price increment in
the auction in the event of inactivity.
Other attributes (informational/non-negotiable in nature).
While it shall be the endeavor of “Service Provider” to specify these rules at the earliest for each online auction, the “Service Provider” shall retain the right to delay the announcement of these biddings rules or modify rules specified earlier at the time of the online bidding. These details would be available to the customers on the Auction Engine at the time of bidding.
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