Terms and Conditions During Bidding

I (Herein referred to as “Bidder” which expression shall, unless repugnant to the context or meaning thereof, be deemed to include its subsidiaries, successors in business and interest, associate, nominees, Legal heirs, and assigns) do hereby agree to buy vehicles from VE Commercial Vehicles Ltd.; having its corporate office at #96, Institutional Area, Sector-32, Gurugram – 122001 and plant situated at Plot No 102, Industrial Area No-1, Pithampur, District Dhar M.P. 454775 (Herein referred to as “Seller”)

The Bidder agrees to abide by following terms and conditions for any vehicle:

  • The Bidder agrees that the Seller will issue the bill/invoice for any vehicles in the name of the Bidder, subject to invoicing carried out within one week of winning the auction. Subsequently, no request for alteration/modification in the name of the winner, as mentioned in the bill/invoice, will be accepted/entertained by the Seller at any point in time.
  • Bidder agrees that the sale of any vehicles is on “AS IS WHERE IS BASIS AND CONDITIONS” without AMC. Bidder also understand and agree that there is no guarantee or warranty, expressed or implied, with respect to the vehicle.
  • The Bidder agrees that the Seller shall have no responsibility regarding the registration, insurance, challans, court cases etc. of respective vehicle, and the Bidder will be responsible for the same on and after date of invoicing of the concerned vehicle.
  • Bidder agrees, understands, and accepts these terms and conditions. The Bidder also agrees that the Earnest Money Deposit (EMD) given to the Seller will be forfeited if these terms and conditions are not duly performed by the Bidder after he wins the auction. The Bidder further agrees that EMD will be forfeited by the Seller in case of non-payment of the above-mentioned consideration or non-collection of vehicle on time by the Bidder.
  • The Bidder agrees that he has inspected the vehicle’s history and its technical aspects before sending the quote. If the Bidder buys the vehicle without inspecting it, the responsibility will be entirely of the Bidder and no refund will be entertained by the Seller.
  • The Bidder understands, agrees, and accepts that he may be blacklisted from future online auctions if he does not make the payment within the stipulated time after being declared as the winning Bidder.
  • Bidder agrees, with respect to any activities undertaken relating to this Platform, to comply with the provisions of all applicable Laws related to corruption in India viz. the Indian Penal Code, 1860, The Prevention of Corruption Act, 1988, The Benami Transactions (Prohibition) Act, 1988 and The Prevention of Money Laundering Act, 2002 and other relevant laws applicable globally in this regard (the “Legislation”). Bidder agrees to ensure that he and all of his Representatives who are engaged in this Platform are knowledgeable regarding the purpose, provisions and principles of Legislation. Bidder further agrees to take appropriate steps to ensure that it and such Representatives, will comply with the Legislation and will not take any action which would cause Bidder or his Representative to be in violation of the Legislation.
  • Bidder hereby agrees to defend, indemnify and hold Seller harmless from any and all losses, damages, liabilities, costs and expenses (including but not limited to legal fees), incurred by VECV arising directly or indirectly due to breach of any of the terms of this “Terms and Conditions” by Bidder.
  • These Terms and Conditions shall be interpreted and construed exclusively in accordance with the laws of India; Bidder agrees to submit to the exclusive jurisdiction of competent courts in New Delhi, India.

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