These terms govern participation in auctions conducted on Global ScrapX. By placing a bid or purchasing from our platform, you (the buyer) agree to the following:
- Role of Global ScrapX
- Global ScrapX functions as an online auctioneer for the sale of Used ,scrap,salvage ,surplus materials.
- All listings are curated and uploaded by Global ScrapX based on available information.
- There is no provision for third-party sellers.
💼 Commission Module –
At Global ScrapX, we operate on a Dynamic commission-based revenue model. Our platform facilitates online auctions for industrial scrap materials. We do not purchase or sell scrap directly — instead, we connect sellers and buyers through our platform.
📊 Dynamic Commission Structure
Total Sale Value (Per Lot) | Commission Rate (Charged to Seller) | Buyer Commission |
₹1 – ₹1,00,000 | 5% | ₹0 (No charge) |
₹1,00,001 – ₹5,00,000 | 4% | ₹0 (No charge) |
₹5,00,001 – ₹10,00,000 | 3% | ₹0 (No charge) |
₹10,00,001 and above | 2% | ₹0 (No charge) |
🔎 How It Works – At a Glance
- ✅ Only the seller pays commission — the buyer pays no fees.
- 🧾 Commission is auto-calculated on the final sale price of each auctioned lot.
- 📉 The higher the value of your sale, the lower the commission.
- 📌 No hidden charges, no listing fees.
📦 Example Calculation
- If your scrap lot sells for ₹80,000 → 5% commission = ₹4,000
- If your scrap lot sells for ₹6,00,000 → 3% commission = ₹18,000
- If your scrap lot sells for ₹12,00,000 → 2% commission = ₹24,000
- Material Inspection & Due Diligence
- Buyers are strongly advised to inspect the material physically (where applicable) before bidding.
- All materials are sold on an “As-Is, Where-Is” basis with no guarantee on:
- Quality
- Quantity
- Usability
Earnest Money Deposit (EMD) Terms
- The EMD amount of the highest (winning) bidder shall be adjusted in the final invoice at the time of material lifting.
- The EMD of the second-highest bidder and other participants will be refunded within 2-3 working days from the auction closing date. Till that time EMD will not attract any interest.
- Conditional offer or any offer without Earnest Money Deposit will not be entertained.
- No Guarantee / Warranty
- No warranty or representation, expressed or implied, is given by Global ScrapX regarding the:
- Condition or fitness for any specific purpose
- Nature, type, condition, or usability of the material.
- Accuracy or completeness of the product description or photographs.
- Global ScrapX is not liable for any difference in actual quantity or condition after delivery.
- Legal & Regulatory Responsibility
- The buyer assumes full responsibility for any compliance, registration, licensing, or legal obligation post-sale.
- Global ScrapX is not liable for any taxation, environmental, safety, or regulatory requirements related to the purchased material.
- Payments & Taxes
- All bids are binding. Payment must be made in full as per auction rules.
- Conditional offer or any offer without Earnest Money Deposit will not be entertained.
- Applicable taxes, duties, and handling charges are to be borne by the buyer.
- Dispute Resolution
- In case of any dispute, the decision of Global ScrapX shall be final and binding.
- Breach & Cancellation
- If a buyer defaults on payment or violates terms, Global ScrapX reserves the right to cancel the bid and block the user from future auctions.
- Catalogue Disclaimer
- This catalogue is a preliminary document for general reference. Details are subject to change without notice.
- Photographs are indicative only.
Disclaimer
Global ScrapX acts only as a facilitator/auctioneer and is not the actual seller of the materials listed on the platform.
Accordingly:
- Global ScrapX does not assume any responsibility or liability for the quality, quantity, documentation, legality, or condition of the materials on sale.
- Global ScrapX shall not be liable for any loss, direct or indirect, to the buyer or seller, including but not limited to:
- Business loss
- Loss of profit or revenue
- Rejection, transportation issues, or regulatory non-compliance
- Any incidental, consequential, or punitive damages or claims
Buyers acknowledge and agree that:
- They have conducted their own due diligence and discussed all relevant aspects related to the transaction with the concerned source.
- Global ScrapX’s role is limited to providing leads or sourcing support and has no involvement in the actual transaction process post-auction.
- All aspects such as quality, quantity, warranty, guarantee, delivery schedules, payment terms, rejections, transportation, and compliance with applicable laws and regulations are solely between the buyer and the source.
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