TERMS AND CONDITIONS OF USE

1. Membership
   A member to the standard auction module may access all information provided on the site, however a member will not be allowed to bid or trade on the site until it is approved by Ispat Industries Limited and thereby intimated by email or fax.
    
2. Site Access; Use of Password; Authorized password
   Access to the auction module is through a combination of user identity and password. Each member shall keep its password strictly confidential and shall not allow and/or permit any of them to be used by third parties. Each member shall promptly notify Ispat Industries Limited of any unauthorized use or loss of its password or any other breach of security.
    
3. Transaction Rules
   Any member bidding in the auction is subject to transaction rules which may be changed by Ispat Industries Limited from time to time. Transaction rules are as attached below :

   Transaction Terms and Conditions for Secondary Products – Annexure 1

   Transaction Terms and Conditions for NCO Products – Annexure 2

   Transaction Terms and Conditions for Made to Order Products – Annexure 3
    

4. Intellectual Property
   Each member acknowledges and agrees that all data developed or collected by Ispat Industries Limited in connection with the operation of the site and the transaction conducted thereon shall be exclusive property of Ispat Industries Limited.
    
5. Members Privacy Policy
   To extend Ispat Industries Limited’s commitment to provide the highest level of integrity in dealing with its members, Ispat Industries Limited has developed a Members Privacy Policy. The policy is designed to assist Members in understanding how Ispat Industries Limited uses and safeguards the members personal information. 
    
   1. ensuring credit worthiness of the members;
       
   2. conducting credit checks;
       
   3. complying with the requirements to make disclosure under the requirements of any law binding on Ispat Industries Limited;
       
   4. the daily administration and operation of the services provided by Ispat Industries Limited to Members;
       
   5. any other person under a duty of confidentiality to Ispat Industries Limited which has undertaken to keep such information confidential;
       
   6. certain commercial data may be extracted and used in an aggregated form which no individual user, company or transaction data will be available from the aggregated data;
       
   7. and purposes relating to the above.
       
6. Termination of Membership
   Ispat Industries Limited may terminate the member’s membership at any time, effective immediately upon notice to the party. Upon termination of membership, a member and its authorized person will lose the right to access the site and thereby bid for auctions being held. Upon termination of its membership, the member shall pay and settle all outstanding amounts due to Ispat Industries Limited within 10 days from the date of termination.
    
7. Disclaimer of Warranties
   Employees of Ispat Industries Ltd will administer the auctions. Ispat Industries Ltd. expressly disclaims any liability or responsibility for any damages, loss, or injury arising out of any negotiation, purported negotiation, or contract or purported contract. Ispat Industries Limited makes no warranty that the site or the service will meet members requirements and expressly disclaims any warranties or guarantees that any posted product will be sold.  If a member is dissatisfied with the site, the content or any services on the site, its sole remedy shall be to discontinue using the site. Each member agrees and acknowledges that the use of the site is at member’s sole risk.
    
8. Limitations of Liability
   Ispat Industries Limited shall not be liable for any damages whether special, incidental, consequential or directly or indirectly related to the use of, or the inability to use the site or content, including the lost business or anticipated profits or lost sales even if Ispat Industries Limited has been advised of the possibility of such damages, and any cost arising therefrom (Collectively, Damages).

   For the avoidance of doubt and without limitation to the foregoing, Ispat Industries Limited is not responsible for loss or damage arising from or in connection with any of the following:
    

   1. The termination of such member’s membership by Ispat Industries Limited whether with or without cause under the terms hereof;
       
   2. The interruption, suspension or termination of the site for whatever reason;
       
   3. The use of the site and the content by such Member, including damages resulting from or arising from such member’s reliance on the site or any mistakes, omissions, errors, defects or delays in operation, non-deliveries, mis-deliveries, or any failure of performance on the site.
       
   4. Any unauthorized party’s obtaining and/or using a member’s password.
       
   5. Government restrictions, strikes, war, any natural disaster or force majeure, default or failure to perform or any other condition beyond Ispat Industries Ltd control.
       
9. Governing Law
   The laws of India shall govern these terms and conditions. Each member agrees that any controversy or claim arising out of or relating to these Terms and Conditions and the relationship between Ispat Industries Ltd. and the members shall be submitted to the exclusive jurisdiction of the courts located within India. For the purpose of this clause, each of the members waives any objection to proceedings having been brought in an inconvenient forum. The submission by each member to the jurisdiction of the courts of India herein shall not affect the right of Ispat Industries Ltd. to take the proceedings in any other jurisdiction nor shall the taking of proceedings in one jurisdiction preclude Ispat Industries Ltd. from taking proceedings in any other jurisdiction.
    
10. Members Conduct
    At all times, by utilizing the site, each member agrees to comply with the following Member Conduct Rules with respect to the site:
     
    1. not to upload, post or transmit to or distribute or otherwise publish:
        
       1. any unlawful, threatening, harassing, obscene, pornographic, profane or other offensive material;
           
       2. any material which would restrict and/or inhibit other members from using and enjoying the site;
           
       3. any material containing virus or other harmful components that may affect the functionality of the site or damage, interfere with, intercept or expropriate any system data or information;
           
       4. any untrue, incorrect, deceptive or misleading material, or any defamatory, libelous, threatening or harassing material, or any other material which would amount to an offence, violate any applicable law, or give rise to civil liability.
           

    2. not to gain or attempt to gain unauthorized access to other computer systems through the site.
        

    3. not to tamper in any way with the software or functionality of the site or use the site in any way that could damage, disable, overburden or impair the site or interfere with any other Member’s use of the site;
        

    4. not to invade any Member’s privacy or disclose confidential information of any Member;
       

    5. not to use the site for any purpose that is unlawful or prohibited by applicable laws and regulations or by membership agreement;
        

    6. to comply with the membership Terms and Conditions.

TERMS AND CONDITIONS – SECONDARY PRODUCTS (ANNEXURE 1).
(Valid for Auctions during November and December’2001) 

Delivery:            Material will be ready for immediate delivery within seven days from the closure of the Auction.

      Quantity:           Detailed packing list will be sent prior to the auction.

Excise Duty:      The price for this auction is to be computed on the basis of excise duty inclusive @ 16% of basic price. However, if there is any change in excise duty then the rate prevailing on the date of clearance of material will be applicable.

Sales Tax:          Nil - The ISPAT  is LST/CST  exempted.

Insurance:          Shall be arranged by the bidder(s).     

Bid Price:          All bids must be on Ex-Works basis & inclusive of Excise duty @ 16% of basic price.     

Loading:            Free of charge. However, minimum quantity to be loaded will be about 10MT (Truck Load) for each delivery.     
 

Reserve Price:   There is a reserve price for the current auction and if the highest bid is lower than the reserve price, the ISPAT as the right to withdraw the material from the auction.        

TERMS AND CONDITIONS – NCO (ANNEXURE 2).
(Valid for Auctions during November and December’2001) 

Delivery:            Material will be ready for immediate delivery within seven days from the closure of the Auction.

       Quantity:          Detailed packing list will be sent prior to the auction.

Excise Duty:      The price for this auction is to be computed on the basis of excise duty enclusive @ 16% of basic price. However, if there is any change in excise duty then the rate prevailing on the date of clearance of material will be applicable.

Sales Tax:          Nil - The ISPAT  is LST/CST  exempted.

Insurance:          Shall be arranged by the bidder(s).     

Bid Price:          All bids must be on Ex-Works basis & exclusive of Excise duty @ 16% of basic price.  

Loading:            Free of charge. However, minimum quantity to be loaded will be about 10MT (Truck Load) for each delivery.            

Reserve Price:   There is a reserve price for the current auction and if the highest bid is lower than the reserve price, the ISPAT as the right to withdraw the material from the auction.

Payment:           100% of the total value of goods to be given as advance by DD in favour of  ISPAT payable at MUMBAI within two working days from the closure of auction along with Purchase Order. CHEQUES/LETTER OF CREDIT can also be accepted. However in case  of cheques, delivery  will  be  given  only after  realisation  of the same. In case of  L/c delivery  will  be  given  only after  the receipt of FULLY WORKABLE L/C.

Acceptance:       Every bidder will have to give a written acceptance, under his signature and stamp, of terms and conditions of the auction to ISPAT vide fax / courier latest by 10.00 hrs on the day of the auction.

Winner:             The highest bidder at the time of close of auction will be the winner provided his price is above the reserve price. ISPAT will intimate the winner within TWO hours of the closure of the auction. It will be binding on the winner to buy the material under auction.

TERMS AND CONDITIONS – MTO (ANNEXURE 3)
(Valid for Auctions during November and December’2001) 

Delivery:            Material will be ready for immediate delivery within 21 days from the closure of the Auction.

      Quantity:           Detailed packing list will be sent prior to the auction.

Excise Duty:      The price for this auction is to be computed on the basis of excise duty enclusive @ 16% of basic price. However, if there is any change in excise duty then the rate prevailing on the date of clearance of material will be applicable.

Sales Tax:          Nil - The ISPAT  is LST/CST  exempted.

Insurance:          Shall be arranged by the bidder(s).     

Bid Price:          All bids must be on Ex-Works basis & exclusive of Excise duty @ 16% of basic price.  

Loading:            Free of charge. However, minimum quantity to be loaded will be about 10MT (Truck Load) for each delivery.            

Reserve Price:   There is a reserve price for the current auction and if the highest bid is lower than the reserve price, the ISPAT as the right to withdraw the material from the auction.

Payment:           100% of the total value of goods to be given as advance by DD in favour of  ISPAT payable at MUMBAI within three working days from the closure of auction along with Purchase Order. CHEQUES/LETTER OF CREDIT can also be accepted. However in case  of cheques, delivery  will  be  given  only after  realisation  of the same. In case of  L/c delivery  will  be  given  only after  the receipt of FULLY WORKABLE L/C.

Acceptance:       Every bidder will have to give a written acceptance, under his signature and stamp, of terms and conditions of the auction to ISPAT vide fax / courier latest by  10.00 hrs on the day of the auction.

Winner:             The highest bidder at the time of close of auction will be the winner provided his price is above the reserve price. ISPAT will intimate the winner within TWO hours of the closure of the auction. It will be binding on the winner to buy the material under auction.

I Agree

I Disagree