Rules & Regulation

1) Minimum amount to be deposited by the seller / seller team

2) After receiving the deposition, the company will send two metallurgists/testers at this spot for testing the materials in free hand.

3) The said testers will collect bond paper along with other relevant documents after arriving at this spot. Those document to be send by the company through Fax.

4) In all circumstances testing will be conducted in free hand as per desire of the testers.

5) One of the coordinators of the seller side must be accompanied with the tester.

6) The testing place or spot should be suggested at the suitable place where four wheelers may move easily. No payment will be made on for way.

7) After testing if the material is found positive, payment will be started within 4 hours in the Metropolitan Town otherwise it requires at least 6 hours.

8) On the same day only Rs. 10 Crores to be paid and the following day 50% of the total amount shall be paid and on the 3rd day balance amount will be paid and the deal will be closed.

9) The paper for the persons of the seller side regarding Income Tax Clearance Certificate will be made ready within 9 days from the date of final payment.

10) Company is always ready and willing to pay cash as much as you require.

11) White money along with papers will be prepared only for 10 hands.

12) In respect of white cases for those persons, their “Ration card/Pan card/ Voter I card/Telephone bill” along with 7 copies of Recent Photograph to be furnished with the Company on the 1st day when the payment starts.

13) If any of those persons has no account in any bank in such case company will open account in his/their favour of the Companies responsibilities with the Axis Bank, City Bank, I.C.I.C.I Bank, American Express, Standard Chartered and H.S.B.C. and the white money will be Transferred through Bank to Bank in the respective head in due time.

14) After testing when the material will be found O.K. then the said material will remain under the joint custody till the total deal is over.

15) At the time of payment in the spot two cars with security shall required to be allowed by the coordinator of the seller.

16) Payment will be disbursed as per payment schedule prepared by the coordinator of the party.

17) Total price of the material will be settled by and between the negotiator and the M.D. of the Company after the testing is over.

18) In no circumstances company will show or furnish any documents before testing as because secrecy in this regard is being strictly maintained, but if any party desires to verify the capability of the Company, he is to deposit Rs. 0,00,000/- per Rs. 1 crore to the Company and after deposition the Company will arrange everything to satisfy the party in respect of finance only in the Bank and only one person will be allowed to verify the same. As much amount as the party likes to verify, he is to deposit the amount in the same ratio.

19) If the material is places for testing as agreed upon and the material is found O.K., the Company will perform his all-legal formalities i.e. furnish all the following documents at the spot on the same time and date by Fax.

1. a) Authorization letter for purchasing of R.P. issued by the L.M.E.
2. b) Fun proof certificate as per your requirement.
3. c) N.O.C. issued by the Ministry of Defence, Govt. of India.

20) Company will observe the following functions regarding the material to be placed for testing.

1. a) Rice pulling with colour dust.
2. b) Rice to Rice with colour.
3. c) Torch frequency.

                                                                                                              Ξ   -Spot Rules & Regulation Form-   Ξ