1. The Auction will be conducted for Sale of designated commodity (as specified in the Auction) in the Portal by name ITCMAARS Sampark by ITC Limited- Agri Business Division (ITC), Guntur.
2. Participation in the Auction is purely voluntary.
3. The Participant is required to register in the Portal before participating in the Auction. For registration, you can click on Register button on the home page. The ITC team will reach out and share the user credentials.
4. The Participant is required to submit necessary documents to ITC before registering in the Portal.
5. ITC shall display the Quantity offered for sale and its price on the Auction details.
6. Interested participants can bid for the quantity they intend to buy.
7. ITC at its discretion shall raise Sale Contracts on selected bidders either directly or through Brokers. The decision of ITC in this regard shall be final.
8. In case, participant after being allotted a Sale Contract does not lift the material, as per the terms and conditions, mentioned in the Sale Contracts, then the participant shall be liable to indemnify ITC for any loss, costs sustained by ITC.
9. The Courts at Guntur shall alone have jurisdiction to try disputes between the parties.
10. No e-mail communication shall be accepted by ITC as a valid legal notice.
11. Force Majeure: Any delay or failure of any party to perform their obligations hereunder will be excused to the extent that the delay or failure was caused by an event beyond the parties control, without their fault or negligence and that by its nature could not have been foreseen by the parties or, if it could have been foreseen, was unavoidable (which events may include, but are not limited to, acts or failure to act by parties suppliers or manufacturers; government directives, actions, or orders; pandemics or epidemics; or natural disasters, floods, fires, embargoes, explosions, riots, wars, or acts of terrorism).
12. Acceptance / execution of this offer shall be deemed to be (a) a confirmation that no benefit, either in cash or in kind, has been provided by either party to any officer or employee, or any relative / associate of any officer or employee, of the either party or of any of its associate companies, in order to secure this offer, and (b) an undertaking not to provide any benefit, either in cash or kind, to any such officer / employee /relative / associate as reward or consideration either for securing this offer or any other matter relating to this offer.
13. In case of Ex-Warehouse sale, any additional charges (e.g., loading, labour, etc.) will be on customer's account.
14. An interest rate of 11% will be charged for any delays. The warehousing carry costs will be calculated fortnightly on peak stock basis.
15. For the Spot Auctions, the lifting period can vary and shall depend upon the final quantity allocated to the customer. The period is as per below according to the quantity:
1. You can view the details about any upcoming auction on the “Auction” tab. Here with any auction, relevant details such as crop, quantity, reserve price, etc. will be visible on each of the auction cards. The details will be relevant to only that specific auction, and will not apply for any other auction.
2. You will be able to join the auction only when the auction start-time triggers; i.e., for example if the auction start time is 11:30 AM, then you will be able to join the auction only at 11:30 AM.
3. For any auction, the time to start is visible in the bottom of the auction card. When the auction has started, time left before auction concludes is visible.
4. Once you click on “Join” to participate in the auction, you will be asked if you wish to join the auction through a broker. If yes, then you will be asked to select the broker through which you wish to join. If no, then you can directly join the auction.
5. It is mandatory to agree with the Terms and Conditions of the platform before joining any auction.
6. After confirming, you can edit the bid rate and quantity that you wish to bid.
7. Quantity can be increased or decreased as many times as required – with minimum being 100 MT and maximum being the total offered quantity. The quantity can be increased or decreased in multiples of 50 MT.
8. You can join the auction at base price. However, the joining bid amount cannot be lower than the reserve price or current highest bid price – whichever is higher
9. In case you are the highest bidder in the auction, the same will be visible on auction card. If your bid has been overcome by any other user, you will see a message – you are not the highest bidder.
10. Once the bidding has started, you will be able to se the highest bid amount, your bid amount and your bid quantity.
11. You cannot reduce your given bid, neither you can bid again on the same amount. You can only increase the bid amount.
12. Bid amount increments are done by ₹ 50 per MT.
13. You can participate in multiple auctions simultaneously if they are running at the same time.
1. You can login on the ITCMAARS Sampark Portal using the received credentials (email and password).
2. During the first login, it is mandatory to change your password. When prompted to change password, please enter your old password (shared by ITCMAARS Sampark team) and then enter twice the new password that you want to set.
3. Once the password is reset, you will be prompted to login again using the new password.