AUCTIONERS: CARDAMOM AUCTION – TERMS AND CONDITIONS
1. Day, Time and Venue of Auction :
The Auctioners may change the day, time and Venue at the discretion of the Auctioner subject to approval of the “Spices Board “.
2. Eligibility of the participants in the Auction:
Only licensed dealer of Cardamom who are permitted by the management of the Auctioner can take part in the Auctions conducted each week. Such licensed dealers should have registration under the Kerala General Tax / Central Sales Tax Act and also under the Sales Tax of the respective States in which they are doing business. However, authorised representatives of a licensed dealer can take part and bid in the auction under proper and valued authorisation from their principal.
3. Others terms and conditions:
i) Every dealer who intends to participate and bid in an auction shall fill in, sign and deliver a form of registration containing the particulars stated in the registraion form along with a deposit of an amount not less than Rs. 1000 / – by Cash or Demand Draft, which amount is returnable at the end of the current auction season.
ii) At the end of each day’s auction, every bidder shall make payment of the purchase considerations of the lots bid by him and confirmed at the auction by means of two cheques in favour of the auctioner, one for an amount calculated at 10 % of the total value, encashable within three days of the date of auction and the other for the balance of 90 % encashable within 13 ( thirteen ) days of the date of auction.
iii) The goods sold will be released to the bidder only after the payment of the sale value as per clause. 2. above or by cash or Demand Draft in favour of the auctioner
iv) The Auctioner reserve the right to insist for payment by Cash / Demand Draft instead of cheques as stated in clause (2) above.
v) A dealer bidding at the auction will be treated a defaulter if he,
a) fills to make payment on the stipulated date , or fails to honour the cheque issued by him in payment of the sale value.
b) misrepresents facts in the form of registration submitted by him as per clause (i) above, or fails to intimate the auctioner any Subsequent changes on facts stated there in.
c) fail to complile with any of the terms and conditions fo the auction.
d) fails to furnish declaration in Form C, under the C.S.T . Act, or in Form H in respect of exports.
e) having declared that a purchase is being made for export fails to export the goods or fails to furnish export documents, declaration in form H or Form 18 A as the case may be.
vi) No defaulter will be eligible to participate at the auction so long as he remains a defaulter to the auctioneer, or in case he declared a defaulter by the cardamom Auctioners association.
a) If any bidder fails to remit the bill amount and take delivery of cardamom within 14 days from the date of auction or such extended time as permitted by the management, all the money already deposited shall stand forfeited in favour of company. in such case the company willbe entitled to reauction or sell through negotiation the cardamom as its decription after giving proper notice to the bidder. The bidder will further be held liable for any loss or damage that may arise of his breach of contract.
vii) The auctioner reserves the right to restricts admission of any bidder for auction without assigning any reason, and all decisions made by the auctioneer in this matter shall be forced.
viii) All legal proceedings, if any, pertaining to auction conducted by us shall be subject to jurisdiction of course in the Districts/ State where the registerred office of the auctioner is situated.
ix) The auction management reserves the right to amend / modify the terms and conditions of auction from time to time at their discretion. ( Subject to the genral rules for marketing framed by the spices board from time to time).
4) Conditions of local sale :
A bidder who contracts to affect the purchase as a local sale , will be given delivery ex-the auctioners godown in kerala state, sales tax and other levies, if any will be charged extra as per rules prescribed under the KGST Act in force.
5) Conditions of Inter-State sales:
With regard to the purchasers who contract to buy the goods in the course of interstate trade, it is hereby expressly agreed that the goods will be moved as a result of the contract from kerala state to the state where the purchaser is doing business . Accordingly the goods will be delivered to common careers transport to the site of the purchaser for purpose of delivery at that place. The sale will conducted in the place where the goods are delivered to common carriers. Transports charges will be paid to the purchaser, Central sales tax at concessional rate will be charged if the purchaser furnishes Form “C” Declaration immediately on receipt of the goods. Otherwise sales tax as applicable in the absence of C form will be payable by the purchaser along with interest / penalty or other charges invisible under the sales tax law.
6) Conditions of Export sale:
In case of purchase for export, or in the course of Export as defined in section 5(3) of CST Act 1956, the purchaser shall file a declarion to that affect in the prescribed forms, in whole cases the goods will be despatched by the auctioner to the place of the purchaser for delivery at that place and the transportation charges for the same will be paid by the purchaser. Sales tax or CST if any, will not be charged, provided the purchaser furnishes a bank guarantee in favour of and to th esatisfaction of the auctioneer or deposit with the auctioner an amount equal to the sales tax that may become applicable in sales tax exemption is not granted by the sales tax authorities. The purchaser shall also furnish immediately after export of the goods Form H / Form 18 A and other cesdues to the satisfaction of the sales tax within 9 months from the date of purchase. The bank guarantee furnished by the purchaser will be released, or the deposit made by the purchaser towards sales tax will be refunded immediately on acceptance of the cesdues of export by the sales authorities.
