Public/ open auction of miscellaneous damaged / dumped items, dead stock & various scrap material will be held “as is where is” basis at Seminar Hall of Dawood University of Engineering & Technology (DUET), Karachi on 18th October 2023 at 01:00 P.M, as per the following terms & conditions:
Old / damaged / dead stock items & scrap material etc. can be inspected from 14/04/2023 to 18/04/2023 during office hours (from 10:00 A.M till 12:00 at Dawood University of Engineering & Technology Main Campus New M.A Jinnah Road, Karachi.
Pay Order/Demand Draft amounting to Rs 10,000/- (Rupees Ten Thousand only) in favor of DUET Karachi shall be submitted by each participant along-with copy of valid CNIC, as Expression of Interest/token money (Refundable) on same day to the unsuccessful bidder, without depositing such PO/DD, no person shall be allowed to participate in public/open auction.
The successful/highest bidder shall have to deposit 25% of the highest bid amount on the spot as earnest money (Non Refundable), failing which the bid shall be rejected, token money of such bidder shall be forfeited and auction process shall be continued. All applicable Government Taxes will be charged in addition to highest bid amount.
The successful bidder shall pay the remaining balance of the auctioned items within 3 days and will also take possession of the auctioned material, failing which the deposited amount shall be forfeited.
Queries (if any) can be cleared at the spot, thereafter, no objection shall be entertained and decision of Auction Committee in case of any dispute shall be final.
DUET Authority reserves the right to cancel all or any auction bid.