JS-145 | Fire affected - P&M - 3 nos. Core Dry Press machine || Approx. Qty. - 19 MT || A/c. - T.T. Plyboards, Yamunanagar

1)     General Terms & Conditions

1.1)     Bidders are requested to read the Auction Document carefully and submit their offer as per terms and conditions given therein. Bidders who submit their offers shall be deemed to have read, understood and accepted the terms and conditions of the document.

1.2)     Illegal Gratifications, Cartelling:

If any bribe, commission, gift, or other form of advantage is offered, promised, or given—either directly or indirectly—by the Bidder, their partner, agent, servant, or any person acting on their behalf to any officer, employee, representative, or agent of the Company (or any person acting on behalf of the Company) in connection with the award or execution of this or any other contract with the Company, whether to secure favorable treatment or to influence a decision, the Company shall have the right to cancel the contract. In such a case, the Bidder shall be liable for any resulting loss or damage incurred due to such cancellation.

Additionally, any form of cartelization or collusive bidding by participants is strictly prohibited. If found engaging in such practices, the concerned bid will be rejected, the EMD forfeited, and the bidder will have no right to raise any dispute regarding the matter. Also such bidder will be debarred from participating on our portal in future.

1.3)   In the event that a bid is placed within the final three minute of the auction closing time, the auction will automatically be extended by an additional three minutes. This extension process will continue indefinitely until no further bids are placed during the final three-minute window.

1.4)   The terms and conditions outlined in this communication are subject to change without prior notice. Participants are advised to regularly visit and register on our website www.jsrbids.com for the latest updates regarding auction start/end times, changes in items offered for sale, extensions of auction timelines, and any revisions to the applicable terms and conditions. JSR Bid will make every reasonable effort to notify registered participants via email or phone of any such changes, to the extent possible.

1.5)    The Seller / Surveyors / Insurers reserve the right to accept, reject, or cancel any bid without providing any reason. They also reserve the right to withdraw any item or the entire lot from the auction at any stage, including after bid acceptance, issuance of approval letters, or even after full payment has been made by the successful bidder. In such cases of total rejection, cancellation, or withdrawal, the Seller shall refund only the amount received (if any) for the withdrawn salvage. No further claims for loss or damages shall be entertained, and the Seller shall bear no liability for any resulting losses incurred by the bidder.

1.6)   All disputes arising from this bidding process shall be subject to the exclusive jurisdiction of the competent courts within the applicable State.

2)     Liability of JSR Bids

2.1)  Submission of the E-Bidding Participation Form shall constitute a binding agreement between the Seller and the Purchaser. JSR Bids acts solely as a facilitator in the transaction process.

2.2)   JSR Bids is appointed by the authorized Insurance Surveyors/ Insurers acting on behalf of the Seller, M/s. TT Plyboards / M/s. Harsh Wood Mfg. & Co., and functions exclusively in that representative capacity.

2.3)    JSR Bids does not assume any responsibility for the quality, quantity, or documentation of the items offered for sale. Under no circumstances shall JSR Bids be liable for any direct, indirect, incidental, consequential, or punitive damages or losses—including but not limited to business losses, revenue shortfalls, or profit reductions—incurred by either the Seller or the Purchaser.

2.4)   The Purchaser acknowledges having independently reviewed all aspects of the transaction and understands that JSR Bids merely provides sourcing opportunities and lead generation. JSR Bids is not involved in, nor responsible for, issues relating to quality, quantity, warranty, guarantees, delivery timelines, payments, rejections, transportation, or compliance with applicable laws and regulations.

2.5)  EMDs are received by JSR Bids on behalf of the Seller solely as a security deposit, to be adjusted against final payments. JSR Bids will not be held liable for any claims or indemnifications whatsoever. Any dispute arising between the Seller and Purchaser must be resolved solely between those parties, without involving JSR Bids. JSR Bids merely provides an online platform to facilitate auctions at the request of the Seller, directly or through authorized representatives, and does not guarantee or vouch for the conduct or history of any bidder.

2.6)  The Purchaser shall bear full responsibility for any loss of life, property damage, or harm resulting from improper usage or consumption of the purchased salvage goods.

2.7)    JSR Bids shall not be held responsible for any issues arising from the bidder’s end during the online auction, including power outages, internet connectivity issues, bandwidth limitations, or accidental bids. Bidders are advised to monitor their lots and place bids in a timely and responsible manner.

2.8)  In the event of technical failures, such as website crashes or internet outages beyond JSR Bids’ control, the auction date may be rescheduled. All registered participants will be informed of any such changes via email / WhatsApp / Mobile.

2.9)  We don’t incur any kind of income through using EMD money and neither any interest income on EMD and wont be liable for same.