In case the Security Deposit (SD) and differential price as specified in point number 5, 6, 7 are not submitted within 15 working days (banking working days) from the date of LOA, the EMD amount will be forfeited. 15. VALIDITY: The quoted price will be held valid for acceptance up to 30 days from the auction date.
THE RTGS DETAILS TOWARDS EMD IS ENCLOSED
Period of Contract/ Delivery
BUYER INTENDS TO PURCHASE BFG SLAG FROM SELLER FROM SSY-2 ZONE BFG SLAG WAREHOUSE OR AS AUTHORIZED BY BF I/c FOR MT ON "AS IS AND NO COMPLAINTS" BASIS UNDER SELLER'S EXPORT TERMS FOR EXPORT TO ANY COUNTRY, NON PROHIBITED COUNTRY and SELLER intend to sell the same on trade export basis and delivery will be done on the basis of FRANKO factory, Visakhapatnam Steel Plant, during the contract period as mentioned in point number 4.
TAXES & DUTIES
Security Deposit
In case of forfeiture, GST shall be applicable on SD (Security Deposit) and shall be recovered. GST is charged by calculating the SD amount at the applicable GST rate.
Delivery Terms
SD will be released upon completion of clearing of minimum 90% of the contact quantity as per the delivery schedule mentioned in clause number-04 above, after any adjustment of dues and upon presentation of proof of export. If at any time during the surprise checks it is noticed that the buyer is taking BFG Slag from an area other than that permitted by RINL, the contract will be forfeited, SD will be forfeited and blacklisted by RINL.
DIVERSION TO DOMESTIC MARKET
ANALYSES REPORT/TEST CERTIFIATE
WEIGHMENT
SAFETY CLAUSE
FORECLOSURE
JURISDICTION CLAUSE
FORCE MAJEURE
In the event of Force Majeure as above, the affected party shall give the other written notice of such event with full details and supporting evidence thereof within 15 (FIFTEEN) days of such event. In the event of Force Majeure, the conditions apply for a period of more than ninety (90) days;. Upon such cancellation, SELLER shall return the Available Balance Amount after adjustment for the outstanding damages and all other charges, if any, up to the date of such notice.
ARBITRATION
The arbitrator will make a reasoned decision and the decision will be final and binding on both parties. Both parties agree that no interest shall be awarded by the arbitrator in the arbitration proceeding. The decision of the sole arbitrator shall be final and binding on both parties to this Agreement.
The arbitrator's fee, expenses and all other costs and expenses in connection with holding arbitration shall be borne equally by both parties.
ASSIGNMENTS
The arbitration shall be governed by the Arbitration and Conciliation Act of 1996 and rules set out therein. The work under the contract shall be continued by the buyer during the arbitration, unless otherwise directed in writing by RINL, or unless the case is of such a nature that the work cannot possibly be continued unless the decision of the arbitrator is obtained and except as otherwise expressly provided provided in the Contract, no payment payable by RINL shall be withheld by reason of such arbitration unless a subject or one of the subjects is in question thereon. However, the lawyers' fees and expenses, as well as expenses in connection with giving evidence, are borne by the respective parties.
ENTIRE AGREEMENT
AMENDMENT OF AGREEMENT
WAIVER
The Seller shall be at liberty to demand payment of an amount or amounts from. This warranty shall not be affected in any way by your acceptance or surrender of any securities from the purchaser or any other person, firm or undertaking on its behalf or liquidation, dissolution, insolvency, reconstruction or death, as the case may be. buyer. As you may claim as your losses and/or damages, costs, charges or expenses due to such non-performance/non-payment by the buyer.
You shall be at liberty, without our consent and without affecting this warranty, from time to time to change the terms and conditions of the said contract, or to extend the time for the performance of the contract, or to postpone at any time or from time to time any of your rights or powers against the purchaser and either to enforce or to cease to enforce any of the terms and conditions of said contract, and we shall not be relieved of our liability under this warranty by exercising your freedom.
Commitments of the Principal
The Rector intends, under established organizational procedures, to award a contract for Merchant Export Sales of BF Slag against NIT number VSP/MKTG/BP/2023-24/. The Principal values full compliance with all relevant laws of the land, rules, regulations, economic use of resources and fairness/transparency in its dealings with its bidders and/or contractors. The Principal will appoint one or more Independent External Monitors (IEM(s)) by name at the tender stage/will appoint in case of receipt of any reference from the panel of IEMs to monitor the tender process and execution of contract to ensure that all concerned parties comply with the integrity pact.
In particular, the Presiding Officer shall, before and during the tender process, provide all Bidders with the same information and shall not provide any bidder with confidential/additional information through which the Bidder(s) may gain an advantage in relation to tender process or contract execution.
Commitments of the Bidder(s)/contractor(s)
The bidder(s)/contractor(s) of foreign origin should disclose the name and address of the agent(s)/representative(s) in India, if any. Similarly, the bidder(s)/contractor(s) of Indian nationality should provide the name and address of the foreign supplier/contracting agency, if any. Further details, as mentioned in the guidelines on Indian agents of foreign "suppliers/contracting agencies", will be disclosed by the bidder(s)/contractor(s) where applicable.
The Bidder(s)/Contractor(s) will not incite third parties to commit the criminal offenses described above, nor be complicit in such criminal offences.
Disqualification from tender process and exclusion from future contracts
Compensation for Damages
Previous transgressions
Equal treatment of all Bidders / Contractors / Subcontractors
The manager will enter into agreements with identical terms as this with all bidders and contractors. The manager will disqualify from the tender process all bidders who do not sign this Pact or violate its provisions. The subcontractor that constitutes corruption, or if the Chairman has substantial doubts in this regard, the Chairman will inform the same to the CVO of RINL.
Independent External Monitor(s)(IEM(s))
The IEM is under contractual obligation to treat the information and documents of the Bidder(s)/ Contractor(s)/Subcontractor(s) with confidentiality. The Principal will provide sufficient information to the IEM about all meetings between the parties related to the tender/contract for the cases referred to IEM, provided that such meetings may have an impact on the contractual relations between the Principal and the Contractor . As soon as the IEM notices, or believes to notice, a violation of this agreement, it will notify the Principal and request the Principal to cease or take corrective action or to take other relevant action.
The IEM will submit a written report to the CMD, RINL within four (04) to six (06) weeks from the date of reference or intimation to him by the Principal and, if the occasion arises, submit proposals for corrective action for the violations or breach of the provisions of the agreement noted by IEM.
Duration of the Integrity Pact
Other provisions
DISCLOSURE OF PARTICULARS OF AGENT(S)/ REPRESENTATIVE(S) IN INDIA, IF ANY
The name and address of their agent(s)/representative(s) in India, if any, and the extent of the power and authority given to them to bind themselves. The amount of commission/payment included in the bid price(s) for such agent(s)/representative(s) in India. Confirmation by the Bidder that RINL can pay any commission/remuneration payable to its agent(s)/representative(s) in India in Indian Rupees only.
INDIAN AGENT(S) DISCLOSURE OF INFORMATION ABOUT THEIR FOREIGN SUPPLIER/CONTRACT AGREEMENT AND DEVELOPMENT OF NECESSARY INFORMATION:.
DISCLOSURE BY INDIAN AGENT(S) OF PARTICULARS OF THEIR FOREIGN SUPPLIER/CONTRACT AGENCY AND FURNISHING OF REQUISITE INFORMATION
Failure to provide correct information in detail as required above will make the relevant bid liable for rejection or in the event of the conclusion of the contract; the same is liable for termination by RINL. Note: The following individuals have been appointed as Independent External Monitors (IEMs) to oversee the implementation of the 'Integrity Pact' in RINL. For details, please refer to our website www.vizagsteel.com.
PREAMBLE
INSTRUCTIONS TO THE BIDDER
Lots are notional and are not made as physically separate entities for main materials and By products. Rate quoted in rupees per MT (or rupees per unit) of material separately for each item. The quoted fee is ex-VSP Works basis and excludes all duties and taxes which will be charged extra as the case may be.
PRE BID EARNEST MONEY DEPOSIT AND SECURITY DEPOSIT (SD)
The EMD amount of Rs 5 lakhs will be adjusted against the SD and the balance amount will be deposited. SECURITY DEPOSIT (SD): The H1 successful bidder will be required to pay a Security Deposit (SD) equivalent to 5.9% of the value of the material (Rounded to the nearest thousand to the higher side) in the form of Bank Guarantee /RTGS /NEFT within 15 working days from the date of quotation in RINL/VSP. Transaction code mentioning auction reference, amount transferred, purpose (ie EMD/SD VALUE/BID) and relevant sales offers for further action in RINL/VSP.
EMD/SD REFUND/FORFEITURE AND DEBAR
LETTER OF ACCEPTANCE/ OFFER LETTER / QUOTAIONS
FINANCIAL ARRANGEMENT
DELIVERY OF MATERIAL
DELIVERY SCHEDULE / EXTENSION
The successful bidder will deposit the value of the accepted lot within 15 working days from the date of acceptance of the auction or the issuance of the letter of offer/quotation (for notional lots) by VSP. Failure to deliver payment within the specified time frame, or failure to remove quantities within the delivery period as indicated in the bid or otherwise communicated, will be considered a breach of contract and the Company will forfeit the EMD/SD submitted by the successful bidder. Any loss due to such breach of contract by the bidder shall also be recoverable from any other amount due to the bidder either under this auction or under any other auction or contract.
GENERAL
Customers will also assist in inquiring and implementing the safety measures. The payment of an Earnest Money deposit, as decided by RINL before the commencement of the Online Auction, will be one of the necessary conditions for participating in the auction. In case of problems with the smooth running of the Online.
Cancellation/premature termination of the online auction with/without a subsequent repeat of the auction on a mutually agreed date.
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