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Our technical executive will visit your site for inspection of Scrap Materials, Vehicles and other obsolete equipment have detailed discussions with the authorities and advice on proper segregation of different kinds of machinery and material so as to enable a purchaser better access and assessment of material.
Wide and appropriate publicity is given through advertisement. We advertise in national and Regional Dallies along with respective News Journals and Magazines depending upon the type of material involved.
A separate department looks after the mailing of catalogues to different bidders across the country and up to dated mailing list is maintained at all times which is continuously updated through market surveys.
We keep in continues touch with the parties dealing in different types of material to understand the market. Our Publicity Relation Department maintains liaison with different trade communities through out the country. Thus any misgiving and apprehensions are effectively dealt with and any difficulty including cumbersome procedures experienced by the buyer is attended to, there by promoting larger participation.
We make all arrangements including fixing of a suitable place for conducting auction. All efforts are taken to ensure smooth conduction of auction. Strict vigilance is kept on formation of rings and such other concerted attempts, which can go against the realization of the best returns for the materials.
In order to have best possible bid, our cryer ensures that the attention of our prospective purchasers is focused on the auction and benefit of the material to the purchaser.
On completion of the bid we undertake the responsibility of the collection of earnest money deposit generally @ 25% on the fall of the hammer meticulously from the successful bidder and deposit this amount with principal after auction sale is over.
This department is specialized in developing new parties to participate in the auction. This process takes time and unless constant contact and follow up is maintained with existing parties and the new ones, the entire activity can regenerate into restricted offers and bid ultimately putting the company's interest in jeopardy.
The Statistics and Mailing Department of this firm stores information regarding various auctions before and after. Information is gathered in certain case before the auction about the market rates and in the event appropriate price are not forthcoming, committee is advised by us to reject the offers completely.
In the event of cancellation/rejection/postponement of the auction by you the actual expenses incurred will be borne by you. As you are aware all sales transaction in Maharashtra States are subject to levy of Sales Tax / VAT Department. As such, we will be collecting Sales Tax / VAT from the successful purchasers in the auction sale and remit the same to the Government Treasury as required under the Bombay Sales Tax Act. Scrap Sales are being covered under section 206© Of income Tax and as such TCS @ 1.025% / 1.1% as applicable is leveiable on scrap sales. The said amount will be collected by us. This is an additional service provided by us. However, in case you have your own Sales Tax / VAT number the same will be collected by you.
Service Tax and Surcharge @ 10.2% will be charged on commission.
Our activities do not stop at the auction sale but go much beyond that as we ensure that the purchaser pay the balance amount in due time and lift the material within stipulated period. In the unlikely events of default of by a purchaser we also see to it that the interest of the client is safeguarded by proper follow - up and persuasion to have the final payments made by the purchaser and also to lift the material. We depute our staff members to various parties impressing upon them to pay and lift the material on getting information from the concerned authorities.
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