Buyer On-Boarding

● Buyer On-Boarding through FSE App. If there is Internet Problem then offline form
● Required docs- Pan Card, adhaar card, cancelled cheque and Trade Licence (Not
Compulsory), email id and phone number
● Verification by Finance Team
● Security Amount EMD deposit
● All the On-Boarded buyer will be asked for Security Amount deposit
● This will make the buyer eligible for participating in the auction
● BUYER to deposit Rs....................... with PRAMAN on............... through RTGS
as a refundable security deposit amount.
● EMD would be deducted from the deposit amount as per the number of auction
registered

PRE-BID Requisite
● Segregation
● Grade-B segregation will happen simultaneously during the general dispatch QA
process
● Grade-B Defect Sheet
● Dispatch Schedule as per the Grade-A schedule
● Minimum Tonne for Grade-B Sale (5 tonne) based on estimated .. (20%) of
Grade A
● Lot Generation
● FSE will make the quality report on Praman App
● The same lot/pic will be used for the auction platform
● Attributes/Quality
● The lot will mainly display the below three report
● Grade A- x%, Grade B- y% & Grade C- z%
● In Grade B- the details of the defect will be displayed as per the Grade-B Defect
Sheet
○ Skin out- a%
○ Smut- b%
○ Cut- c%
● Weight
● Estimated weight will be put in the system by the FSE. Sign off with the FPO poc
● Notification to Interested Buyer
● D-1 day, notification will be sent to all the interested buyers (buyers who have
given security deposit) once the same is uploaded

BID- DAY
● Minimum number of bidders required would be ….. Bidders
● The base price of the auction would be decided by Intello Labs as per the Mandi Rate
(D-1)
● The auction would be conducted on Praman daily from 1200hrs to 1215hrs or as
decided by Intello and NAFED (if decided, the intimation of the same would be given to
the Users on Praman).
 ● If there is a higher bid at or just before in the last minute of the auction, the auction
would get extended by 5 minutes each time subject to maximum 3 extensions.
Illustration: (if the auction was to end at 1215hrs but at 1214hrs or 1215hrs another
higher bid is received the auction can be extended to 1220hrs and if at 1219hrs or
1220hrs another bid which is higher than the previous bid is received can be extended
to 1225hrs and the same would be repeated for the last time and at 1230hrs the auction
would be closed even if a higher bid is received at 1230 hrs).
● All the Users who have registered for the auction would be given access for the auction
as per the time decided.
● Users would bid for the selected auction and can revise their bids upward.
● The highest bidder would be selected as the winner of the auction.
● The base price would be set-up by Intello for each auction.
● Responsibility of the material lies with NAFED
● If NAFED is satisfied with the highest or the lowest Bid, as applicable, received in the
auction,it may accept or reject the Bid in accordance with Clause
● The successful Bidder will be notified of the Acceptance (defined below) via e-mail
and/or SMS

Winning Bid
● A Purchase Order would be generated on Praman on behalf of the successful bid winner
and presented to NAFED mentioning the details of the winning auction.
● NAFED’s Branch Level Committee would approve the bid winner’s Purchase Order, as
applicable, NAFED may accept or reject the Purchase Order. NAFED would confirm the
same to Intello within 1 hour of receiving the Purchase Order.
● The successful Bidder will be notified of the same via e-mail and/or SMS.

Post Auction
● Post the approval from NAFED, the successful bidder would be asked to deposit the full
booking amount within 2 (two) hours in the particular account created for the User.
● NAFED will send the Invoice to the User as per the auction details.
● If the User is not able to deposit the amount within 2 (two) hours of the confirmation e-
mail or SMS, 5 (five)% of the bid amount would be forfeited against the same by NAFED
from the security deposit made by the successful bid winner.
● The User needs to collect the material at his own expense from the warehouse or as
decided by Intello, details of the same would be mentioned in the auction details
available on Praman. Users are requested to go through them before participating in the
auction.
● The collection of material should be done within 24 (twenty four) hours after receiving
the successful bid message.
● If the User is not able to collect the material within 24 (twenty four) hours, NAFED will
forfeit the payment made by that User.
● Any rejection and dispute by User will not be considered at the time of delivery and the
inspection of the material needs to be done as that time.
Service Fees
● Users shall pay a 2.36% technological transaction fee, this fee is inclusive of GST to
Intello for the use of Praman and the Services ("Service Fees"). (This is subject to
change if there is a change in the GST Rates by the Government).
● Please see below an illustration for the same for reference of the User:

Bid Amount (Rs) 10

Total Weight (kg) 10000
Total Bid Amount (Rs) 100000
Service Charge (including GST) @2.36% (Rs) 2360
Amount Payable (Rs) 102360

Dispute- Quality

○ Dispute can be raised by BUYER if material is not as per the purchase order
given at the time of booking and should be raised before loading.
○ PRAMAN Quality Inspection report will be referred for any dispute resolution.
○ If the quality inspection report pre-bid and post-bid is same, the buyer will have to
accept the lot else the security deposit will be forfeited
○ If the quality inspection report deviation pre-bid and post-bid is greater than … %
and the buyer doesn’t accept, the bid will stand cancelled and the lot will be
returned to the NAFED poc.
○ The quality of the material for sale is on "as is where is basis". It is advisable to
the Users to visit the warehouses for inspection of material before participating in
the auction and by giving prior intimation to Intello.
○ The User shall be solely responsible for inspecting the material before
participating in the auction