E-Auction:
All commodity exchanges can be registered on the AgriVyapaar platform.
Registration fees will be set & amended by the MARKFED as and when required.
After the auction packet is forwarded by society, the auction packet will be displayed on the registered commodity exchange account in their AgriVyapaar account on the same day.
After the auction packet is displayed on the portal, the registered agricultural produce will be available for sample checking by the registered traders at the office address of the concerned society for 1 day.
In order to satisfy the quality of the offered auction packet, the buyer can inspect the sample packet by contacting & visiting the concerned society or the buyer can contact the concerned farmer and inspect the crop also. The buyer must be fully satisfied with respect to the quality before the offer. Any controversial situation related to quality will not be entertained after approval of the rate offered.
The said packet will be e-auctioned on the second day of display of the packet. E-auction time will be from 5:00 to 5:30 pm on the banking working days.
Commodity exchanges will be able to receive auction rates from their registered buyers for the offered packet.
The auction rates received will be recorded by the commodity exchange at the time of e-auction through its log in on the AgriVyapaarportal.
The highest offer bid offered in the e-auction will be communicated to the concerned farmer by a SMS. The farmer will make consent and disagreement on the notified offer rate within 01 day of communication. If consent/disagreement is not given within the stipulated period, the above offer will automatically be declared void.
The deal will be finalized only after the consent by the farmer, the information of which will be displayed on the login account of the commodity exchange only; no separate information will be issued for this. Commodity Exchanges have the responsibility to inform the buyer whose bid get consent of the farmer.
It will be necessary for the successful buyer to transfer remaining bid amount of the deal to the account of AgriVyapaar platform within 02 days of the finalization of the deal. 3% amount of the deal will be deposited by all bidder as an EMD amount before placing their bids on the commodity exchange. After finalization of the deal, the EMD amount of the successful bidder must be transferred to the account of AgriVyapaar platform within 02 days by commodity exchange.
If the quantity accepted by the farmer at the highest offer rate on the packet offered is more than 80%, then it will be necessary for the successful buyer to transfer full amount of the accepted quantity as per the offer rate to the account of AgriVyapaar platform within 02 days of the finalization of the deal.
In case of not depositing the full amount of the deal by the buyer (successful bidder) within the stipulated time period, the concerned commodity exchange will be the responsible for transferring the EMD amount to the AgriVyapaar account.
Farmers will get a SMS to bring their produce to the aggregation centre only after receiving the full amount of the deal by AgriVyapaar portal.
Up to 10 percent of variation in quantity will be valid on offered auction packet.
Certification will be issued by marketing association for marketing of cultivated agricultural produce by the buyer in terms of local specificity and quality of agricultural product and sourcing from specific area.
The purchaser will be allowed to offer that purchased commodity only at a higher price than the prevailing price of the commodity in the local market.
II. Collection and delivery:
According to the quantity of the approved auction packet and according to the nature of the agricultural produce, the required number of gunny bags will have to be made available in the office of the concerned society immediately by the merchant. In no way, collection work can be started by the society in the absence of gunny bags. Penalty charges will be issued separately each day by the MARKFED for any delay in collection work.
Commodity Exchange will be able to act as authorized representative of its successful merchant and can perform the task of assaying and acceptance. If commodity exchange does not perform above-mentioned task on behalf of their registered merchant then the buyer have to register on AgriVyapaar portal separately. After registration, the merchant will be able to acknowledge his acceptance from his login account at the time of delivery.
According to the offered or agreed quantity of the commodity by the farmer and merchant, the delivery will have to be made within the stipulated time at the place decidedby the member institution/ collection center/ agreed place where the weighing/filling in the presence of the buyer or his authorized representative could be done. Once the delivery is taken by the buyer or by the buyer's representative, consent of the acceptance must be given at the same time at the AgriVyapaar portal.
The expenses incurred on weighing / filling of crop etc. brought by the farmer at the collection center will be borne by the buyer and seller as per the rates approved and prevalent by the Agricultural Produce Market Committee (APMC).
Payment will be made only on the quantity accepted by the buyer. Payment will not be made on the weight of gunny bags.
It will be compulsory to take the delivery in the maximum time limit of 2 days on an official working day by the buyer or his authorized representative.
In case of non-receipt of the delivery by the buyer within the stipulated period, the storage fee will be payable at the effective rates of the MP State Warehousing and Logistics Corporation .The deposit of the payable storage charges will have to be paid in advance before taking the delivery. The rates of storage charges will be payable according to the minimum period of 15 days or according to the existing provisions.
It will be the responsibility of the buyer to bear all the taxes imposed by the Central and State Governments on the offered auction packet produce. According to the Market Act, in the event of transporting the purchase commodities from one place to another, it will be the responsibility of the merchant to obtain the license from the concerned agricultural produce market committee.
The produce brought by the farmer will be weighed in the same packing prevalent for the crop. After packing of the desired quantity if the commodity brought by the farmer is in excess then the remaining quantity will have to be taken back by the farmer or if the buyer wishes to purchase the remaining produce then he can do this on the purchase rate including the taxes with the consent of the farmer.
It will be binding on the purchaser to follow all the rules/regulations of central/state government/ local institutions, which are effective on purchasing commodities.
On the AgriVyapaar platform, 0.5 percent of marketing charges will be payable to the MARKFED and 1.0 percent to the concerned society for collection and quality check. These charges may vary from time to time.
IV. Dispute resolution:
If any dispute arises between the buyer, seller and concerned society related to quality or quantity at the time of collection and delivery, the District Marketing Officer of the concerned district of the MARKFED will be responsible for resolving the dispute. Dispute will be required to be resolved in maximum 03 days.
Under the condition of the said contract, the Managing Director of the MARKFED will have the right to formulate rules and issue instructions. In case of any dispute arising under the terms of the contract, the Managing Director of the MARKFED will be the arbitrator, and his decision will be valid and binding on all parties. The decision passed by the Managing Director cannot be challenged in any court of justice.
All disputes will be subject to jurisdiction of Hon’ble District Court at Bhopal (M.P).
