Key Terms Of Sale

*LOTS WILL BE INVOICED AT 1GBP = 100INR*

 You are required to supply the following:

1. Passport or Driving Licence

2. PAN Card Copy

3. Copy of Cancelled Cheque (of Bank account from which EMD is deposited)

4. GST Registration Certificate copy, if applicable

The above with the proof to be emailed to arun.kaushik@jcb.com, together with the confirmation of the EMD being received you will be approved to bid

For all Domestic On Site Enquiries and to arrange viewing by appointment, excluding Saturday and Sunday, please contact

Arun 00 91 8510004907 arun.kaushik@jcb.com

 Sale Closes: Tuesday 22nd March 2022 at 1:30pm (GMT) / 7:00pm (IST)

 Online Auction Process

 Lots with the minimum price achieved will display

‘Reserve met’

Lots with the minimum price not achieved will display

‘Reserve not met’

 During the last 5 minutes of the Sale each Lot is subject to a 5 minute time extension each time a Bid is placed.

 If you are outbid, you will receive an email notification to increase your bid

 COVID-19 TERMS: The terms of viewing shall at all times, be subject to respective guidelines and notifications issued by the Central, State and the local government bodies, related to Covid-19 and as applicable, from time to time. Though, JCB India is and will take all precautions in line with the governmental guidelines/directions/orders on COVID-19, it is clarified that there exists an inherent risk of exposure to Covid-19 in any public place where people are present and by visiting JCB India, the bidder voluntarily assumes all risks related to exposure to Covid-19. The bidder shall abide by all such terms and conditions. Subject to the aforesaid:

1.     a.    IMPORTANT NOTICE: Registration and Security Deposit (EMD) is required in order for you to be able to Bid. Upon receipt of the Security Deposit (EMD) you will be approved to bid. Upon registration,the account details should be kept strictly confidential and you must not permit any third party to use or access your account on your behalf or otherwise. You will be liable and accountable to all the bids made via your account. You should ensure that you have provided all information as is required for registration, and further warrant that all such information is accurate, true, current and complete in all regards. You shall at all times maintain the accuracy of your account information and ensure that the information is correct and accurate. Deposit - A Security Deposit of £3,000 GBP Sterling is required from all Global Bidders. An EMD of 300,000 INR is required from all Domestic Bidders. Once your Deposit has been received you will be approved to be able to Bid in the Sale. You will not be eligible to Bid without a Deposit being received by JCB India, so please allow time for the Bank Transfer.

PLEASE CLEARLY STATE YOUR INDIVIDUAL OR COMPANY NAME ON THE BANK REFERENCE TOGETHER WITH THE REFERENCE ‘AUCTION’

Account Name: JCB India Ltd

Beneficiary Address: JCB India Ltd, 23/7 Mathura Road, Ballabhgarh, Haryana

Bank Name: Barclays Bank PLC

Bank Account Number: 000003988961

MICR Code of Bank: 110658002

IFSC Code: BARC0INBBIR

SWIFT Code: BARCINBBMUM

2.    If you are unsuccessful in Bidding, your deposit will be returned by JCB India (within 2 weeks from the Sale Closing) to the original account from which the deposit was received and without any interest, through electronic transfer. Requests to transfer monies to any other account will not be entertained.

a.    In order to Bid, we also require your

1.     Passport or Driving Licence,

2.     PAN Card copy,

3.     Copy of cancelled cheque ( of Bank account from which EMD is deposited ),

4.     GST Registration Certificate copy, if applicable,

The above with the proof to be emailed to arun.kaushik@jcb.com

3.    Bidding Currency: GBP Sterling

4.    Invoicing: AMS will issue a Proforma Invoice to the registered bidder who is successful in the bid. Request for issue of Proforma invoice for any party other than the successful registered bidder shall not be entertained. Domestic buyers will be issued invoices in INR with Export buyers issued an Invoice in GBP Sterling. Upon receipt of full payment JCB India will issue a Sales Invoice to the registered bidder who is successful in the bid.

5.    GST: Global Buyers will be invoiced at Zero Rate with proof of Shipping Documentation and any supporting paperwork (requested by AMS or JCB India.) Domestic Buyers will be invoiced at the applicable GST Rate (together with necessary Local Taxes as applicable.)

6.    Lots: All items Sold as Seen, no warranty implied or given.

7.    Viewing Locations: PLEASE NOTE THAT DUE TO COVID-19 VIEWING IS STRICTLY BY APPOINTMENT ONLY.

a.    JCB India, 23/7 Mathura Road, Ballabgarh, Delhi.

b.    JCB India, Talegaon Dabhade, Pune.

c. JCB India, Mahindra World City, Sanganer, Jaipur

8.  Viewing: 7th - 11th March and 14th -  18th March 2022, 10am - 4pm Local Time Strictly by Appointment. Negative RTPCR Test Report, not more than 3 days old, and Aarogya Setu App is mandatory. Bidders must report to JCB Security when viewing. Bidders are advised to inspect any Lot for which they intend to bid and also inspect the documents for each Lot to determine what documents are available for such Lot. All bidders attending onsite are required to comply with Health and Safety regulations including those pertaining to COVID 19.

9.  Online Auction Closes: Tuesday 22nd March 2022, 1:30pm (GMT) / 7:00pm (IST). Subject to time extensions, If a bid is placed in the last 5 minutes the lot will continue for a further 5 minutes until no further bids are placed.

10.  Payment and Collection: If full payment has not been received by 8th April 2022 the minimum deposit will be 15 percent of the Sale Price which will be taken as a non refundable deposit. The Buyer shall deposit 15% of the Bid amount ("Advance Amount") of each Lot within 7 (Seven) Days of the successful Bid and issue of proforma invoice. Full payment has to be received by 1pm on 8th April 2022 for each lot. The EMD will only be refunded or adjusted with the last successfully bid Lot in case there are multiple successful bid Lots. Failure to deposit the Advance Amount (or any part thereof) within the prescribed timelines will result in forfeiture of the entire EMD, at the sole discretion of the Vendor and the bid shall be deemed to be cancelled for all such Lots where the bidder has bid. Further, in case of failure of the Buyer to deposit the remaining balance amount within 14 days (Fourteen) Days of the successful Bid and issue of proforma invoice. Subject to Clause 18, the documents / logistics should be arranged to take the possession of all successful bid machines within 07 (seven days) from the date of receipt of entire bid amount. The Vendor shall have the right at its sole discretion to forfeit the entire amount received against the bid of the said lot/lots if any of the above conditions are not complied with by the Buyer. Further, the Vendor shall have the right to re-auction such vehicles immediately after the expiry of the timelines mentioned herein. Further, the Vendor and the Auctioneer may in their sole discretion blacklist such Buyer from participating in future auctions as well.

11.     Subject to the Covid-19 terms, collection strictly by appointment only by no later than 1pm on Friday 8th April 2022. Ex Works collections from relevant location. Buyer is responsible for the removal and transportation of Lots purchased in Auction from their respective location. Purchaser is responsible for all onward shipping costs/taxation/export duties.

12.  JCB India offers no guarantees as to the road-worthiness of any of the vehicles in the lot, made available for sale in this auction. In the event that a successful bidder fails to comply with the specified payment terms, the Deposit/EMD will be forfeited and the Bid would stand cancelled.

13.     The vehicles which are auctioned for purposes of only export, shall not be used in India in any manner by the Buyer and the Buyer shall indemnify the Auctioneer and Vendor against any loss, penalty or cost or expenses that it may suffer on account of export of such vehicle by the Buyer out of India or use of the vehicle or for breach of any condition set out herein.

14.     For lots marked for Export sale only, bidders who are outside of India can bid for these machines and such machines are meant only for export and not for use in India. The Auctioneer and/or Vendor reserves the right to cancel the auction/bid at any stage without incurring any liability whatsoever if the bidder or the Buyer fails to meet these conditions or makes a wrong representation to the Auctioneer/Vendor.

15.     All the costs for export of un-registered vehicles from India to any other country shall be the sole responsibility of the Buyer without any recourse whatsoever to the Auctioneer and the Vendor.

16.  Shipping Enquiries: Vikram Katre at 20 Cube Logistics, Gurgaon, India - 00 91 124 4412230

17.  Please Note: Your highest bid will be treated as a valid bid even if at the time of placing it the Reserve is not met.

18.  Asset Management Services (UK) Limited provide the online bidding service ‘as is’ and without any warranty or condition, express, implied or statutory. Without limiting the foregoing, we accept no liability for any failures, delays or errors caused by interruptions in the availability of the online bidding service or our website or any errors or defects in their content or functionality, any software and/or hardware defects (whether the potential Buyers or Asset Management Services (UK) Limited) and or any internet connection problems (whether the potential Buyers or Asset Management Services (UK) Limited) and Asset Management Services (UK) Limited do not represent or warrant that the Asset Management Services (UK) Limited website or online bidding platform will be error free, virus free, or that any defects will be corrected.

19.  A reliable/stable broadband internet service connection is highly recommended to achieve the best bidding experience. If, however, you are unsure of the reliability/stability of your internet connection, please use the maximum bid facility.

20.  Bidders are advised to periodically refresh their bidding page to avoid any unforeseen interruptions within the bidding system and/or browser.

21.  Computer system requirements: You can use a PC, Mac Tablet or smartphone, if you are using Internet explorer it must be IE9 or above. To listen to live audio, you will need Adobe flash player. Your system should be up to date with the latest updates from Microsoft, Apple or your operating system vendor. Adobe reader is required for PDF report