Frequently Asked Questions

 

  1. How do I become a member of the Forward Auction module?

    To become a member of the Ispat Industries Limited forward auction module based on www.ispatind.com, potential buyers need to fill in the registration form by clicking on “Register” button on the top frame of the forward auction home page. Ispat Industries Limited will verify the details submitted by you and validate your company’s account. All company registrations will be verified and approved and the final right for granting membership is reserved with Ispat Industries Ltd. You will receive your Company user id and password via email. The user name and the password for the members will be created and validated by the Company id user who will also have the rights to add/delete & validate/disable new/existing users.
     

  2. How do I log in?

    On the top bar of the page is the Log-in button, by clicking against the button a new page will open which will ask you for your user name and password. On entry of the user name and password you can click on the submit button below which will link you into the forward auction module.
     

  3. How do I get updates on upcoming auctions?

    In the top frame by clicking on the Upcoming Auctions button you will get all the forthcoming auctions. Also after logging as a user you could click against the upcoming auctions button on the top frame. Incase you are a registered member of the site you will be intimated on the forward auctions to be held in advance via email.
     

  4. How do enter the bidding section?

    Every party to be invited for the auction will be intimated in advance through an email. The Email will contain all the techno-commercial terms and conditions of the auction. The process will be as follows:
     

    • The member will log on the forward auction section with the user ID and password selected for entry into the section.
       

    • The member will click on the “Online Forward Auction” button on the top frame of the screen, which will display all the auctions being held on the day and in the future.
       

    • The member should click on the auction he has been invited for on which a new page will open displaying the items under the auction.
       

  5. How do I bid for the auction?

    After completion of the process as above in point no 4 the bidding screen will open as below :

    As seen in the screen above the top table includes details of the material for auction. The first column includes the material code followed by products details (coils/ plates/ sheets), quantity against each size, in description on clicking against View all the details of material on auction can be viewed, Bid Count includes the number of bids received at any point of time during the auction, Best bid is the last bid received during the auction, Bid closure time is the end time of individual item and finally if the Bid button which on clicking will display the Bidding Table as shown below in the screen. Incase of bidding for item no 2 click on the bid button against item no 2 and submit you bid by entering the value in the bidding table against the text box of Bid Amount and clicking against the bid button to submit your bid. Similar procedure will be followed for bidding for any other item. 

    Note: Incase a customer posts a bid less than 5 minutes before the closure of the auction then time for the auction for that item will be extended by 5 mins i.e. incase the auction is closing at 12:00pm and Customer X bids at 11:57am then the auction time will be extended till 12:02pm further incase customer Y bids at 12:00pm then the auction will be extended to 12:05pm, the auction for a single item will continue upto maximum 2 hours from the actual time of closure.
     

  6. What are the terms and conditions for the auction?

    The terms and conditions for the auction can be viewed in the “Terms & Conditions” button on the top banner.
     

  7. Who do I contact incase I have a problem?

    Ispat Industries Ltd.
    Marketing Department
    Casablanca, Sector 11,
    CBD Belapur, Navi Mumbai 400614
    Maharashtra, India

    Tel: +91 22 7577951-61 Fax: +91 22 7577972
    Email:     marketing_dept@ispatind.com