Notice

(i)

Any person interested in participating in the bid has to deposit Rs 5,00,000/-( Rupees Five Lacs Only) as earnest money by way of Demand Draft in the name of Philips India Limited at the time of submission of bid.  

(ii)

The Bid is to be submitted in a sealed cover clearly mentioning the price of the equipment in words and figures.  The bid should be on the covering letter of the Company / firm and the seal of the Company / firm should be affixed.  The bid should indicate the name, copy of the identity card and designation of the person who has signed the bid.  The authorization in favour of the signatory should be enclosed.

(iii)

Any person by submitting the Demand Draft as earnest money deposit agrees to participate in the bid and agrees to be bound by all the terms and conditions of the present process.

(iv)

Any person who is not the successful bidder shall be returned the Demand Draft on the immediate conclusion of the bid itself. 

(v)

The earnest money deposited by the successful bidder shall be immediately encashed by Philips India Limited and adjusted against the sale price.  Sale price will be the successful bid / highest bid placed by the successful bidder.  The successful bidder has to pay the balance money, after adjusting the earnest money, to Philips India Limited by Demand Draft, payable at Gurgaon on or before 04.00 pm on 5^th June 2017.   If the full sale price is not deposited on or before 04.00 pm on 5^th June 2017 the sale shall be deemed to be automatically cancelled and the earnest money forfeited in favour of Philips.  The bidders agree that this amount being forfeited in favour of Philips would be a reasonable compensation for the loss caused to Philips for conducting the bids and the lapse of time and opportunity.

(vi)

All applicable taxes shall be paid by the successful bidder.  All bids for the equipment are net of any taxes imposed for the equipment.

(vii)

The successful bidder will be entitled to receive possession of the equipment and ownership documents of the equipment only on payment of the full sale price.  The successful bidder is responsible to remove the equipment within 3 days of making the full payment to Philips India Limited.  Philips will not be liable or responsible for the safety and storage of the equipment’s after the expiry of aforesaid 3 days.

(viii)

Any person participating the bid acknowledges and agree that placing bids will be a firm legal commitment and an irrevocable offer to purchase the equipment.

(ix)

Philips India Limited at its sole discretion can withdraw this notice or cancel or postpone the bid and process at any stage for any reason.  No person shall have any claim against Philips India Limited for taking any steps in furtherance of this notice or participating in the bids or submitting the earnest money or for forfeiture of earnest money in the circumstances stated above.  The decision of the person opening the bid shall be final.

(x)

The Courts in Gurgaon shall have sole and exclusive jurisdiction on any dispute arising out of the bids and any issues related thereto.

(xi)

Contact Person: For any further clarifications / inspection of equipment’s:

Vijayant Srivastava

Philips India Ltd

Contact no. 9873912322

Email id : Vijayant.srivastava@philips.com

Time: 10.00 am to 05.00 pm

Meeru G Gupta

Philips India Limited

Contact No : +91 9999085605

Email Id : meeru.gupta@philips.com

Time : 10.00 am to 05.00 pm