Auction for Non-Serviceable Items (On "As Is, Where Is" Basis)
RAILCOP, a subsidiary of the Ministry of Railways, is conducting a public auction for non-serviceable items. The auction will be held as per the terms outlined below.
Auction Details
- Auction Date: 21st November 2024
- Time: 10:30 AM
- Location: Project Director Office, RAILCOP, Loco Shed Road, Karachi
Items for Auction
| Serial No. | Description | Quantity |
|---|---|---|
| 01 | Steel | 43 Ton (Approx.) |
Terms and Conditions
Inspection:
- The items for auction can be inspected on 18th November 2024 from 9:00 AM to 5:00 PM at the Railway Rest House, Marshalling Yard, Pipri, Karachi (Physical Stock).
Participation Requirements:
- Each bidder must bring two copies of their original CNIC on the day of the auction. Submission of photocopies is mandatory for record-keeping.
Bid Document Fee:
- A non-refundable fee of PKR 5,000 must be deposited in cash by all bidders to participate in the auction. The deposit is due before 10:00 AM on 21st November 2024.
Tax and Costs:
- All applicable government taxes will be withheld as per regulations, and the quoted cost of the auction excludes these taxes. The auctioneer must separately pay any relevant taxes.
Bid Security Deposit:
- A bid security deposit of PKR 500,000 is required. This must be submitted in cash before 10:00 AM on 21st November 2024. Failure to submit this deposit may result in disqualification.
Payment by Successful Bidder:
- The winning bidder(s) will need to pay the full bid amount in advance before collecting the items.
Forfeiture Clause:
- If the winning bidder fails to make the payment, their bid security will be forfeited by RAILCOP.
Auction Committee Rights:
- The Auction Committee reserves the right to reject any or all bids, or accept them partially or in full. Decisions may be made on the spot or at a later date.
Lot Weight Variability:
- The weight of the lot may vary. The final payment will be based on the actual weight of the items.
Auction Format:
- The auction will be conducted on an open public auction basis.
Contact Information
For any inquiries, please contact:
Deputy Manager Supply Chain (Procurement)
RAILCOP House, Pakistan Railways Carriage Factory, Carriage Complex, I-11/1, Islamabad, Pakistan
Phone: +92-51-9278311, +92-51-9278271
Email: scm@railcop.com.pk
Website: www.railcop.com.pk
This auction provides a valuable opportunity for companies or individuals interested in purchasing steel in bulk. Participants are advised to adhere strictly to the terms and conditions and ensure all required documents and deposits are submitted on time.
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