Note: Indonesian Major Holidays (Idul Fitiri, Idul Adha, Christmas day, New Year & Independence day)

1. M/s Indo Wana Bara Mining Coal, is the owner/seller of Coal located at Indonesia, and hereinafter is referred to as the "Seller" or "Principal" and MSTC Ltd, the Service provider to conduct the e-auction herein after referred to as "Service provider".

2. By bidding in this e-auction, the bidder acknowledges his unconditional acceptance of the terms and conditions of the e-auction / sale.

3. This e-auction is governed by these Special Terms and Conditions, General Terms and Conditions of e-auction and Buyer Specific Terms and Conditions as displayed in the website at the time of the e-auction. If there is any contradiction between the General Terms and Conditions with this Special Terms and Conditions, the latter will prevail.

4. MSTC shall only act as the Service Provider and shall not be a party to any contract between the Seller and the Buyer subsequent to this e-auction.

5. Imported coal offered for sale through e-Auction is open to all consumers and non-consumers in India.

Registration:

6.1 Before participation in the e-Auction, a prospective Buyer shall be required to register with the Service Provider by submitting an application in the prescribed format available on the Website www.mstcecommerce.com/auctionhome. The application shall be made along with the required documents such as copy of Income Tax return (latest), PAN Number, Sales Tax / Vat Registration Certificate, Passport size photograph, registration fee etc. as prescribed by the Service Provider.

6.2 During registration, all-prospective Buyers will be provided with a facility to generate their own unique User ID & a password based on which they can log in. Details of the registration process with Service Provider may be viewed in the websites www.mstcecommerce.com / www.mstcindia.co.in . All the bidders need to obtain Class II / III signing type Digital Signature Certificate for participating in e-auction.

6.3 The Participant shall ensure that the User ID and the Password are carefully stored and treated in such a way as not to be lost and so that such are secure from access by third parties.

6.4 The Service Provider reserves the right to block the access of any Users who have or are suspect of having violated these obligations.

6.5 As soon as the User ID and the Password are used, the Service Provider assumes that the Participants or their authorized representative is participating in the eAuction Event. Any declarations provided thereby will be assigned to the Participant.

6.6 If any third party receives the User ID and / or Password, the Participant shall be made liable for all acts executed under this User ID and Password.

6.7 In relation to any personal data being saved or processed, all concerned parties shall meet the requirement of the Information Technology Law applicable in India. The participant hereby gives consent to process and transmit the data necessary to the implementation of the eAuction Event.

6.8 The liability of the Service Provider is excluded for any damage due to virus, Trojan horses, hoax-virus or for any other destructive data. The Participant shall take measures against any virus and other destructive data. The liability of the Service Provider is also excluded for the wrong transmission of data, the manipulation of data by a third party, especially through un-authorized access to the networks and systems of Service Provider, or the non-transmission of data.

7 Earnest Money Deposit:

7.1 All bidders having been registered with the Service Provider shall have to furnish non-interest bearing Earnest Money Deposit (EMD) @ Rs 25,00,000/- (Rupees Twenty Five Lakh only) per lot.

7.2 Earnest money has to be deposited by way of Demand Draft in favour of MSTC Limited payable at Kolkata drawn on any scheduled bank at MSTCs KOLKATA office at 225 F, 2nd FLOOR, A J C BOSE ROAD, KOLKATA 700020. EMD may also be submitted through RTGS and the details are as given below.

Bank Name	United Bank of India
Branch	Tivoli Park
City	Kolkata - 700020
IFSC Code	UTBI0TVP142
Account No.	0068210300184

7.3 EMD will be accepted upto the last working day prior to the date of e-auction. Bidders sending EMD by post/courier, may do so at their own risk. MSTC/Seller will not be responsible for any postal delay or loss and will not entertain any claim on that account.

8. Basis of Sale:

Coal offered is to be sold on CNF Indian Port basis. Any Registered bidder can participate in the e-auction after submission of EMD.

9. Notification:

9.1 The Service Provider shall notify the details of coal put up for sale like quantity, GCV, size, ash, moisture, sulphur etc. of the coal to be auctioned minimum 15 (Fifteen) days in advance, on their websites for wide publicity.

9.2 The minimum quantity for bidding would be the total quantity offered in a lot as prescribed by the Seller. Two port discharge may be permitted subject to payment of additional charges as applicable.

10 Quality and Inspection:

10.1 Quality of the coal mentioned in the description is as per sampling and analysis carried out at the mine as per standard norms. The parameters and the values indicated against each parameter in the lot description is only indicative for the purpose of bidding by the bidders. Once the bidding is completed and the highest bid is accepted by the Seller, the Seller shall arrange for transporting the coal from the mine to the Load Port at its own cost. The coal shall be finally tested at the Load Port by one of the internationally reputed testing agencies to be selected by the successful bidder from the following list of agencies

(a) P T GEOSERVICES

(b) SUCOFINDO

(c) INSPECTORATE ( PT IOL INDONESIA)

(d) CARSURIN

(e) P T CCIC

The result of the sampling and analysis at the Load Port carried out by the testing agency chosen by the bidder shall be final and binding for the Seller as well as the successful bidder. The test result at the Load Port shall be basis of payment to be made by the made by the successful bidder.

10.2 The coal is offered on CNF Indian port basis. The bidders are advised to acquaint themselves with other operational aspects related to logistics before bidding. Once the material is sold to a buyer, the Seller/Service Provider shall not be liable for any claims in relation to the quality of coal or other logistics issues from buyer.

11. Bidding Process

11.1 The registered Bidders, upon login into the e-auction website, shall be required to record their acceptance of the Terms & Conditions of the e-Auction before participation in the actual Bidding Process.

11.2 Before participating in e-Auction, bidders are to satisfy themselves with the quality of coal being offered from the seller or any other source.

11.3 Prospective bidders are required to Bid for the entire quantity offered in the lot subject to their submission of EMD.

11.4 The bidders while bidding shall quote their Bid price on per MT basis in US Dollar. Incremental bid price shall be USD 0.25.

11.5 Bidders shall have to quote their prices on CNF basis. The successful bidder shall have to take necessary action for payment of the insurance separately.

11.6 The bidder has to bid for a price equal to or above the start price to secure consideration in the concerned e-Auction. During the bidding process higher offer by any Participant will automatically render the earlier submitted lower offer invalid. Under any circumstances, parties involved in the process will not enter false or fake bids in online eAuction Event.

11.7 The date, time and period of e-Auction as notified in advance including closing time on portal of service provider shall be adhered to. However, the closing time of e-Auction will be automatically extended up to last Bid time, plus 5 minutes, so that equal opportunity is given to other Bidders for making an improved Bid on that item.

11.8 While maintaining the secrecy of Bidders identity, the web site shall register and display on screen the highest successful Bid price (H1) at that point of time. Once a Bidder is out-bided by another, the particular Bidder shall become eligible for making an improved Bid. Other bidders can also submit bid higher than prevailing H1 Price.

11.9 All the bidders are required to submit their bid using Digital Signatures.

12. Post e-Auction process and Payment terms:

12.1 The Seller will communicate to the Service Provider regarding its acceptance / rejection of the highest bids obtained in the e-auction within three working days after the eAuction. If the bid is accepted by the Seller, the successful bidder will be intimated through e-mail/ SMS by the Service Provider. Therefore, bidders are advised to regularly check for incoming emails. Alternatively, they may also stay in touch with the Service Provider to find out if their bids have been accepted.

12.2 Once the bid is accepted by the Seller and the same is communicated to the successful bidder, the successful bidder shall deposit 1% of the bid/contract value within 03 (three) days from the date of such communication. This amount along with the EMD deposited by the bidder before the e-auction shall constitute the Performance Guarantee and the same shall be retained by the Service Provider till the completion of the contract.

12.3 After receiving the Sale Intimation Letter, the successful bidder shall issue a formal Purchase Order in favour of the Seller within 03 (three) working days mentioning details of coal, prices, payment and shipment schedule. The Seller shall acknowledge and accept the Purchase Order and the same shall constitute a legal contract between the successful bidder and the Seller. MSTC shall not be a party to any contract between the successful bidder and the Seller.

12.4 The successful bidders after the e-Auction, will be required to open Letter of Credit (LC) at sight for the full contract value in favour of the Seller. The LC shall be irrevocable, confirmable, non transferable for 100% of the invoice value. The LC shall be payable at sight against presentation of 3/3 original B/L original certificate of Sampling & Analysis, original Certificate of quality, original vessel Draft survey report and original certificate of origin. The LC shall have to be opened from a reputed International Bank and shall be acceptable to the Sellers Bank. Such LC shall have to opened by the successful bidder within a period of 07 (seven) days after submission of the amount towards Performance Guarantee.

12.5 Beneficiary Name & Bank Details:
SAMCHIRA DMCC
31-E, A G Tower
Jumeirah Lakes Tower
Sheikh Zayed Road
P O Box No. 43873
Dubai, UAE

Name of Bank	STANDARD CHARTERED BANK, MAIN BRANCH, MANKHOOL ROAD, BUR DUBAI, DUBAI
Account Name	SAMCHIRA DMCC
Account No	USD 01-3909190-01
IBAN	AE0204400001013909190001
SWIFT	SCBLAEAD

13. Bonus & Penalty (Adjustment of Price)

On the basis of result of Sampling & Analysis carried out at the Load Port, the adjusted price will be calculated as given below.

(a) GCV - Price will be adjusted if the actual GCV is higher or lower than Guaranteed Kcal/Kg with the following formula:-

Adjusted Price = (Actual GCV / Guaranteed GCV) x FOB Price

(b) Total Moisture (TM) - Bill of Lading weight will be adjusted if the actual TM is higher than the Guaranteed TM with the following formula:-

Weight Deduction = Certified Weight x (Certified TM% - Guaranteed TM%)

(c) Sulphur (ADB)- If the actual Total Sulphur (ADB) is in excess of the Basis % (ADB) as stated in the surveyor's certificate at loading port, then the price shall be reduced by USD 0.15 PMT for each 0.1% above Basis Total Sulphur (ADB), fraction prorate, till rejection limit.

(d) Ash Content (ADB)- If the actual Total Ash Content (ADB) is in excess of Basis % (ADB) as stated in the surveyor's certificate at loading port, then the price shall be reduced by USD 0.15 PMT for each 1% above Basis Total Ash (ADB), fraction prorate, till rejection limit.

14 Refund of EMD for Unsuccessful bidders:-

In case of unsuccessful bidders, EMD shall be refunded by the Service Provider after the auction is over, on the bidder's request. However, if no such request is received the Service Provider will retain the EMD for participation in e-Auction in future. However, no interest shall be payable on such EMD for any reason whatsoever.

15. Forfeiture of EMD:

The EMD submitted by the successful bidder will be liable for forfeiture if after the e-auction, the successful bidder fails to make payment towards Performance Guarantee and / or contract value along with applicable taxes.

16. Delivery / Shipment of cargo

16.1 On receipt of confirmed L/C from the successful bidder, the Seller shall arrange for shipment of the cargo (coal) within 30 (thirty) days. The Seller shall forward copy of the Bill of Lading (B/L) and other shipping documents to the buyer with a copy to the Service Provider.

16.2 The Seller will not be liable for any failure or delay in performance due to any cause beyond their control including but not limited to Fires, Floods, Strikes, Go-Slow, Lock-outs, closure, Pestilence, Dispute, Epidemics, Political upheavals, Government action, Civil commotion, Breakdown of machinery, shortage of labour, Acts of God etc. It will be the sole discretion of the Seller to extend time of performance after cause of delay will have cease to exist.

17. Arbitration:

Any dispute between the Seller and Participant or between Service Provider and the Participants arising in connection with the interpretation or implementation of these terms and conditions shall be resolved by a sole arbitrator appointed by the CMD, MSTC Limited and arbitration will be held in accordance with the provisions laid down under the Arbitration and Conciliation Act, 1996. The language of the arbitration shall be English. The place of arbitration shall be Kolkata, India. All disputes covered under this Arbitration clause shall be referred to the CMD, MSTC Limited, Kolkata for adjudication by him or by his nominee.

18. Jurisdiction

Only the Courts at KOLKATA, INDIA shall have the exclusive jurisdiction to entertain any surviving dispute connected with the arbitration proceedings or any other matter or claim arising out of or in connection with the e-auction.

19. General:

a. All terms and conditions of sale under this e-auction are subject to force majeure conditions as applicable.

b. Bidders must always ensure to keep their email address valid. In any case Bidders shall not be absolved from fulfilling the responsibility of compliance of any of the terms and conditions herein including payment terms due to non-receipt of emails from the Service Provider.

c. Bidders must be extremely careful to avoid any error in bidding (whether typographical or otherwise) and they are fully responsible to check and rectify their bid before submitting their Bid into the live e-Auction floor by clicking the Bid button.

d. There is provision for bidding in decimals. The Bidder shall be solely responsible for all consequences arising out of the bid submitted by him (including any wrongful bidding by him) and no complaint /representation will be entertained by the Service Provider/Seller in this regard.

e. Quantity mentioned in notice are only indicative and may undergo a change depending on factors like actual production of coal, bottlenecks in coal transportation etc.

f. The Seller / Service Provider reserve the right to cancel the sale of coal under this e-Auction at any stage at its sole discretion without assigning any reason thereof and no party shall have any right whatsoever to raise any claim in that regard on that count. However, the Seller will ensure to refund the payment if received by it from the buyer immediately on cancellation of sale

g. Sale under each e-Auction shall be an individual, independent, unique and complete transaction.

h. The Seller will send an advance set of documents directly to the buyer and a copy of the same should also be sent to MSTC. The original documents will be coming through the banking channels as per standard procedure.

i. Since the material is to be shipped by sea, the Seller would intimate the buyer about vessel nomination, advance vessel arrival intimation for 7 days, 5 days, 3 days and 1 day.

j. The buyer after receiving the Sale Intimation Letter shall place Purchase Order on the Seller with a copy to MSTC. The Purchase Order shall strictly conform to the terms and conditions of this e-auction.