- 1.1) The Purchaser is desirous to Purchase the vehicles on the basis of present condition (“as-is, where is” basis) of the vehicle at the time of the execution of the agreement.
- 2.2) The Purchaser shall make the payments in the Seller’s i.e. Salvage Carz, bank account, details of which will be shared once the bid is finalized. The payment shall be made via online mode only.
- 3.The payment shall be made 3-5 days prior to the delivery date of the vehicles and shall be subsequently confirmed by the finance team of the Seller before the delivery of the vehicles.
- 4.4 In the event the Purchaser fails to make the payment 3-5 days prior to the delivery of the vehicles, the Seller shall consider that the Purchaser has no interest to buy the vehicle and forfeit the Security Deposit of Rs.10,000/- per vehicle .
- 5.The Purchaser, further, has shown his willingness to purchase the car and the payment shall not be delayed beyond the agreed date.
- 6.4)5) The Purchaser, further, has shown his willingness to purchase the car and the payment shall not be delayed beyond the agreed date.
- 7.4)5) The Purchaser, further, has shown his willingness to purchase the car and the payment shall not be delayed beyond the agreed date..
- 8.The purchaser undertakes to sign all the relevant vehicle transfer document at the time of signing agreement, which will help the Seller to get the vehicle transferred in the name of the purchaser in such an eventuality. Further the seller undertakes not to use those signed documents/forms etc. before the expiry of the time specified under the agreement for transferring the vehicle by the purchaser. Further the seller undertakes not to use those documents in any other circumstance(s) except stated above.
- 9.5)6) The delivery of the vehicles shall be made in accordance with the payment received by the Seller upon confirmation of its finance team..
- 10.6)7) The Purchaser shall also make his address and photo id copies (KYC documents) available for records .
- 11.7)8) The Purchaser will transfer the vehicle registration in the books of RTO either in his name or in the name of the end user (as the case may be) within 60 days from the date of delivery and Purchaser shall bear the cost of the transfer fees, which is to be paid to the RTO. If the Purchaser fails to transfer the vehicle registration of any of the vehicle handed over to him under this agreement, within 60 days from the date of delivery of the vehicle, then the Seller shall reserve a right to levy penalty of Rs. 20,000/- (Rupees Twenty Thousand only) on the Purchaser, for the breach of the material condition incorporated in the clause, as a result of the lapse on the part of the Purchaser. In case of arising of this situation, the Purchaser, undertakes to make the payment to the Seller within 7 days from the breach, else the Purchaser acknowledges to the fact that he will be exposed to all the legal consequences which the Seller may avail against him in a competent court having jurisdiction.
- 9)The purchaser undertakes to sign all the relevant vehicle transfer document at the time of signing agreement, which will help the Seller to get the vehicle transferred in the name of the purchaser in such an eventuality. Further the seller undertakes not to use those signed documents/forms etc. before the expiry of the time specified under the agreement for transferring the vehicle by the purchaser. Further the seller undertakes not to use those documents in any other circumstance(s) except stated above..
- a). the purchaser undertakes that it shall indemnify the seller for any loss or damage suffered by the seller in case the purchaser is not able to produce the vehicle for production before court or if the vehicle is used or is suspected to/would be used in unlawful act or if the seller is been or is likely to be implicated as a party to any suit or criminal complaint or any court proceeding/s. In the event the Purchaser fails to provide the Vehicle for the purposes set out in this Clause, the same shall constitute a breach of this Agreement.
- b) From any of the mechanical defect which occurs after the date of sale/purchase of this agreement, even if the defect so occurs is the result of any earlier defect 16) 13. All notices, requests, demands and other communications hereunder shall be in writing and the same shall be deemed to be served, if personally delivered or sent by registered mail at the addresses as mentioned in the title to this document. Notices may also be sent through emails; however, such emails must be followed up with a physical notice at the above mentioned address within a period of 30 days.
- 14. Inspect vehicles before bidding.
- 15.Delivery will be given after payment confirmation as below :
- a) After confirmation of approval of bid by Salvagecarz.
- b) Rs.20,000/- confirmation from Salvagecarz
- c) Payment confirmation of vehicle from Salvagecarz
- 16.Vehicle kms run from auction date till delivery may vary between the range of 6000 to 8000.
- 18. Vehicles for which documents are expired, please ensure indemnity bond clause 2A specifically selected and signed by buyer
- 19.Buyer has to provide form 28,29,30 with authorized signature to Salvagecarz while taking the delivery without this document delivery will not be given by Salvagecarz.
- 20. Payments made via third party accounts will not be accepted.
- 21.Buyer Fees:-Rs.3000 + GST or 1% + GST of the sale value whichever is higher.
- 22.TCS applicability (Tax at source) @ 1% on vehicles above 1 million INR