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General Terms And Conditions:-

TERMS AND CONDITIONS

Welcome to the "[email protected]" website (hereinafter referred to as "the website").

The auctions and related services are provided by Shanaya Solutions (hereinafter referred to as "Waste Junction") on the website.

Waste Junction is an e-commerce service provider mandated by the seller/buyer to facilitate virtual auctions. The website serves as an online auction platform, a virtual marketplace/venue for sellers/buyers to conduct the sale/purchase of assets, and for bidders to make/place bids/offers on such assets. Waste Junction acts as a third party not particularly interested in the items being sold/bought on behalf of the seller/buyer.

DEFINITIONS

  1. SELLER/BUYER - A real individual or legal entity wishing to sell/buy assets through internet-driven online auctions on the website, and who has mandated Waste Junction to provide the website and other related support services.

  2. BIDDER - A legal entity registered with Waste Junction, making or placing a bid on the website to buy/sell assets, either in part or in full. An individual can represent as a bidder on his own behalf and on behalf of other legal entities, provided he registers with Waste Junction separately in those capacities.

A successful bidder is one in whose name the sale certificate or purchase order is issued by the seller/buyer.

  1. PAID MEMBER - A bidder who pays the annual membership fee as prescribed by Waste Junction.

  2. USER - A legal entity using the website and/or the related services provided by Waste Junction.

  3. AGREEMENT - The terms and conditions, along with any additional terms specific to an online auction event on the website, constitute the Agreement.

  4. ONLINE BIDDING EVENT - A process for price determination through competitive interaction between bidders on the website. Online Bidding Events initiated by the seller are Forward Auctions, and those initiated by buyers are Reverse Auctions.

  5. On accessing the website or using the services provided by Waste Junction or by registering as a buyer/seller/user, you agree that you have read the General Terms and Conditions, including the terms specific to an online auction event.

  6. You are bound by these terms and conditions, including those specific to a particular online auction event.

MODIFICATIONS TO WEBSITE, SERVICES, AND TERMS AND CONDITIONS

Waste Junction reserves the right to modify, amend, suspend, or discontinue any aspect of the services or the website at any time without notice.

Waste Junction reserves the right to amend any or all the terms and conditions without notice at any time at its sole discretion and announce the same on the website. Accessing the website and/or using the services shall constitute acceptance of the terms and conditions, including the amendments.

PASSWORD AND SECURITY

After you register with Waste Junction on the website, you will be allotted a unique user identification (User ID) by Waste Junction, and you will be prompted to enter a password. This is the log-in password, a string of characters used to authenticate your identity and provide access to various resources on the website. The user is solely responsible for all use and for maintaining and protecting the confidentiality of their User ID and password.

FORGOT PASSWORD

In case you forget the log-in password, you can change it by clicking on the "Lost Password" link on the home page of the website. You will receive a verification code on your registered email address and your registered mobile phone. Using the verification code, you can change your log-in password.

TRANSACTION PASSWORD

To add an additional layer of security, bidders participating in auctions must set up a transaction password. Bidders can set their transaction password and must confirm the same with the OTP sent to their registered mobile number and email ID. The transaction password is session-specific.

TIME

The time mentioned on any page of the website refers to Indian Standard Time (IST), i.e., UTC + 05:30 hrs. Bidders participating in auctions are advised to refresh the right-side window of the auction room to check the exact server time displayed.

TERM OF AGREEMENT

This Agreement shall continue to be in full force and effect as long as you are using the website and its services. Waste Junction provides the online auction platform, allowing users to sell, purchase, bid, and buy or bid and sell the assets listed on the website pursuant to the terms and conditions set forth below.

1.0 GENERAL TERMS AND CONDITIONS

1.1 Participation and bidding in the auctions on the website shall be treated as conclusive evidence that the bidder has inspected the assets and related documents, being satisfied with the quality, quantity, condition of the assets, taxes and duties, and other extraneous factors. The Principle of Caveat Emptor (let the bidder beware) applies, implying that the bidder has carefully reviewed the terms and conditions prevailing at the time of the auction. No objections or complaints will be entertained once the bid is placed.

1.2 All assets sold/bought on the website are on an "AS IS WHERE IS BASIS" and "NO COMPLAINT BASIS."

1.3 Waste Junction does not give a warranty or guarantee of the quality, quantity, measurement, condition, and chemical composition of the assets and about its "End Use" or fitness for a particular purpose.

1.4 The highest/lowest bidder does not have any right to demand acceptance of his bid/offer. The seller/buyer reserves the right to accept/reject/cancel any bid/offer, withdraw any portion of the assets at any stage from the auction, even after acceptance of bid/offer, issuance of a delivery order/purchase order without assigning any reason. In the event of such rejection, cancellation, or withdrawal, the seller/buyer shall not be responsible for any damages/loss to the successful bidder.

2.0 COMMUNICATION

2.1 User consents to receive communication from Waste Junction by electronic mail, short messaging services on their mobile phones, by phone calls, or through posting notices on the website.

2.2 Only paid members will be able to download the Auction Catalog from the website after logging in.

3.0 ONLINE BIDDING

3.1 Multiple logins from the same IP Address will not be permitted.

3.2 Time Extension - If any market-leading bid is received in the last three minutes of closing time, the closing time will be extended automatically by three minutes.

3.3 Bids - All bids placed are legally valid and cannot be modified or withdrawn for any reason once placed. The highest/lowest and the latest bid on the auction shall supersede all previous bids.

3.4 Auto Bid:

a. Auto Bid facility is provided for bidders intending to place a maximum/minimum value for a lot/lots.

b. Auto Bid is not a confirmed bid. It is only the maximum ceiling amount/minimum floor amount set by the bidder to enable the auction engine to place bids on his behalf, whenever he is outbid, up to the ceiling/floor amount set by him.

c. Once an Auto Bid is set, the auction engine will consider the ceiling/floor amount for the next possible bid only. Auto Bid cannot be set for amounts less than two increments/decrements to the highest/lowest bid prevailing at that point.

d. In the event of a manual bid amount matching that of an Auto Bid, the manual bid will prevail.

4.0 Termination

4.1 - Waste Junction explicitly retains the right to terminate or refuse to allow the use of the Services and the Website by any person or entity, at the sole discretion of Waste Junction, for any reason and without notice.

5.0 Force Majeure

5.1 Waste Junction shall not be held liable for any failure or delay in performance due to causes beyond its control, including fire, strike, go-slow, lock-out, closure, theft, disruption of normal working conditions, internet or network non-availability, accident, war, riots, civil commotion, political upheaval, epidemics, breakdown of machinery, terrorist activity, natural calamities, adverse weather, or climatic conditions. In such cases, the time of performance shall be extended until the cause of delay ceases to exist.

6.0 Disclaimer

6.1 Waste Junction operates its business based on a robust website. While Waste Junction ensures the smooth running in good faith, it outsources server space from a third-party hosting company. Waste Junction, however, will not be held responsible for any failure of power, network, server, hosting server, Internet connectivity, ISP, or other issues affecting online bidding.

6.2 Waste Junction disclaims responsibility for the quality, quantity, and documentation details of Buyers/Sellers. Both Buyers and Sellers agree to defend and hold harmless Waste Junction from any loss, damage, costs, and expenses during transactions on the website. Waste Junction shall not be liable for any loss incurred by transactors, including business, revenues, profit, direct and incidental costs, consequential or punitive damages. Both parties agree that Waste Junction, as an e-commerce service provider, provides a source of supply and is not involved in quality, warranty, guarantees, delivery schedules, payments, rejections, transportation, legal laws, and regulations. Waste Junction does not possess knowledge of the assets under transaction, and both parties agree that the matter contained in the assets does not violate any applicable law.

6.3 The Seller/Bidder agrees to limit the liability of Shanaya Solutions to them for any claims, losses, costs, damages, or claim expenses, including attorneys' fees and costs. The total aggregate liability of Waste Junction Pvt. Ltd. to the Seller/Bidder shall not exceed its total fee receivable from the Seller/Bidder, unless prohibited by law.

6.4 Terms and conditions as laid down by the auctioneer shall apply additionally.

6.5 The logos displayed are registered trademarks of companies that have used the services provided by Waste Junction. The logos are displayed in good faith to imply that Waste Junction has provided services to these companies, and no representation or warranty, express or implied, is made by Waste Junction.

7.0 Governing Law and Jurisdiction

7.1 This agreement is governed and construed in accordance with the laws of the Union of India. Users irrevocably consent to the exclusive jurisdiction and venue of courts in Bangalore, Karnataka, India, in all disputes arising out of or relating to the use of the services and the website.

7.2 Users agree to indemnify and hold Waste Junction and its officials and employees harmless from any claim, demand, or damage asserted by any third party due to and arising out of the use of services and the website.

GST

Bidders participating in Waste Junction Auctions should verify the tax structure with selling companies and ascertain tax rates and statutes in place.

Any disputes shall be clarified by Bidders directly with selling clients, and Waste Junction is not responsible for any misunderstanding or dispute on applicable taxes. Waste Junction is only an E-Commerce Service Provider with minimal knowledge of changes in applicable tax rates promulgated by the Government from time to time.