Customer Registration Procedure For e-Auction of Diamond

(A GOVERNMENT OF INDIA ENTERPRISE)

Customer Registration Procedure For e-Auction of Diamond

For e-Auction Registration Customers may kindly comply with the following:

1. Customers should first register themselves On-line on MSTC's Website http://www.mstcauction.com/ and thereafter complete the Offline registration formalities by submitting the Documents mentioned below to MSTC.

2. Online registration must be done by the Customers on the Website by going to "New User", clicking on "Buyer", filling the Buyer Registration Form (email Address & Income Tax PAN No. of the Customer are mandatory) and by accepting the General Terms & Conditions (GTC) and Buyer Specific Terms & Conditions (BSTC). The Customers must also generate their unique User ID and Password during the Online registration. However the Password of the Customer will be activated by MSTC only after completion of Offline registration formalities by him.

3. After successful Online registration by the Customer, an auto e-mail Confirmation Letter will be sent to the Customer confirming him the Buyer Registration Details and advising him to complete the other Offline registration formalities. The customer should download a copy of this Confirmation Letter, countersign the same and submit it to MSTC while completing the Offline registration formalities.

4. After successful completion of Online registration, the Customer should complete the Offline registration formalities by submitting the following Documents ( Original & Photocopy - the Original will be returned after verification) to MSTC Off-line:

(a) Income Tax PAN Card

(b) Latest Income Tax Return

(d) (i) Registration Fee of Rs. 3,000/- (Non- Refundable ) + Service Tax @10.2% by PO / DD favouring MSTC Ltd. Payable at Mumbai for registration for a period of 1(one) year.

(ii) Registration Fee of Rs. 5,000/- (Non- Refundable ) + Service Tax @10.2% by PO / DD favouring MSTC Ltd. Payable at Mumbai for registration for a period of 5(five) years.

(iii) Registration Fee of Rs. 10,000/- (Non- Refundable ) + Service Tax @10.2% by PO / DD favouring MSTC Ltd. Payable at Mumbai for lifetime registration.

(e) Signature of the Proprietor / Partner verified by Bank ( If Proprietorship / Partnership Firm) on Bank's Letter-head. If such verification is done on Customer's Letter-head, then the full Address of the Branch of the Bank must be mentioned.

(f) Two Passport-size Colour Photographs of the Proprietor / Partner / Director (For issue of Photo ID Card by MSTC) - The Proprietor / Partner / Director ( or a person authorized by the Director in case of Public / Private Limited Company) of the Customer's Firm will be required to put his specimen signature on the ID Card. In case of Proprietorship / Partnership Firm, the Proprietor / Partner will be required to personally visit MSTC's Office for signing and submitting the Photo ID Card. In case of Public / Private Limited Company, this may be done by requesting MSTC to send the Card by post for his signature and return to MSTC. It will be the Customer's responsibility to ensure that he obtains the duly authorised Photo ID Card from MSTC before he starts bidding in any e-Auction.

(g) Copy of e-mail Confirmation Letter received from MSTC after successful completion of Online registration & containing Buyer Registration Details of the Customer- This should be duly counter-signed by the Customer and returned to MSTC alongwith his Offline documents for verification.

NOTE FOR CUSTOMERS :

(1) Once the Customer successfully completes all the Online and Offline registration formalities, his Password will be activated by MSTC.

(2) After activation of Customer's Password, he will start getting regular information about all the Forthcoming e-Auctions of MSTC on all-India basis through his registered e-mail ID.

(3) Customers must ensure to keep their e-mail Address valid at all times since all correspondence will be primarily made with the Customers through his registered e-mail Address (or as per the Special Terms & Conditions of a particular e-Auction).

(4) Bidders must be extremely careful in making their bids on the Live e-Auction floor. Bids in Decimals are not acceptable by the system. After typing any Bid, but before submitting the Bid into the Live e-Auction floor, Bidders must check the same. Bidders will be fully liable and responsible for the bids submitted by them, including any errors made by them, if any, and no complaint / representation in this regard will be entertained by MSTC / Principal.

(5) In case any bidder puts in a bid which is equal to or more than five times the current highest bid, then before submission of bid by him in the Live e-Auction floor, a warning to this effect will be displayed on his screen. Bidders are advised to re-check their bid in such cases before finally submitting the bid into the Live e-Auction floor.

(6) (It will be the bidder's responsibility to personally see the result of e-Auction by seeing and downloading the "Auction Lot Status" from the Website immediately after Closing of eAuction which will be displayed upto 7 (Seven) days from the date of Closing of eAuction (excluding the date of closing of eAuction). The "Auction Lot Status" will show whether any Lot has been won by the Bidder on Confirmed or STA (Subject to Approval) Basis. Although Sale Intimation Letter will be issued by email to such highest successful Bidder after the closing of eAuction, it must be clearly noted by the bidders that the date of payment of EMD / Security Deposit will be counted from the date of closing of e-Auction irrespective of the date of issue of the Sale Intimation Letter.

(7) Sale will be governed by the Special Terms and Conditions (STC) displayed on the "Live" e-Auction floor only and Bidders may download a copy of the same for their records.