The
Maharashtra State Co-Op.
Cotton Growers' Marketing Federation Ltd.
REVISED TERMS AND CONDITIONS OF COTTON SEED SALE BY AUCTION W.E.F. FROM 01-11-2000 SEASON 2000-2001
These terms and conditions are prescribed for the sale of cotton seed by auction with effect from 01.11.2000. The Government of Maharashtra have appointed The Maharashtra State Cooperative Cotton Growers' Marketing Federation Ltd., as Chief Agent for implementation of Monopoly Cotton Procurement Scheme and authorise to dispose of cotton seed under Section 39 of The Maharashtra Raw Cotton (Procurement, Processing & Marketing) Act,1971.
The Maharashtra State Co-operative Cotton Growers' Marketing Federation Ltd., hereinafter referred as "Cotton Federation" prescribe the terms and conditions for the purpose of Sale of Cotton Seedm as under :-
The parties interested in purchase of cotton seed, duly registered, shall be referred hereinafter as "Buyer".
1) (A) ELIGIBILITY : Only registered buyers shall be allowed to take part in the sale of cotton seed by public auction. The Zonal Manager is empowered to grant the registration and to cancel the registration of buyers who do not abide the terms and conditions. The Zonal Manager is empowered to execute contract/documents regarding cotton seed sale. The buyer shall become a nominal member of the Federation.
(B) PROCEDURE FOR REGISTRATION : The buyers shall obtain registration certificate by applying to the Zonal Manager in the prescribed application form and paying refundable deposit for registration of Rs2500/- (Rs.Two thousand five hundred only) refundable without interest. Such registration will be valid for only one season and for a particular zone only. If any buyer desires to take part in cotton seed auction of more than one zone in the State, he should register himself separately in such concerned zone. The Zonal Manager shall grant certificate of Registration after the deposit is received. A copy of terms and conditions of cotton seed sale shall be supplied to the buyer alongwith registration certificate. These terms and conditions of sale of cotton seed shall be binding on such registered buyers.
2. (A) PROCEDURE OF AUCTION : All the registered buyers attending an auction, shall be given statement showing the details of cotton seed stock that will be auctioned on that day. The Zonal Manager shall keep a buyer attendance register and every buyer will sign the register to the effect that he is fully aware of the terms and conditions of auction sale as well as of contract and is taking part in the auction after having understood the said terms and conditions.
(B) CREDENTIALS TO BE DEPOSITED BY REPRESENTATIVE OF FIRMS : If the participant in the auction is claiming to be a representative of the firm or a company, he shall deposit his credentials to that effect with the Zonal Manager. The credentials shall clearly indicate that the participant has the authority to take part in the auction on behalf of the principal and principal shall be liable for all acts or omission on the part of the representative. The credentials shall be valid for particular season only. Fresh credentials shall be submitted by the registered buyer for each season.
