ln order to attain objective of the Government for reducing dependence of the country on coal imports towards ‘Atma Nirbharta’, Coal lndia Limited has introduced Special Spot e-Auction scheme 2O2O for import substitution (only for coal importers).
Special Spot e-Auction Scheme
The scheme aims to provide access to indigenous coal to coal importers. Such importers may be importing coal for self use or for sale within India. The coal procured under this e-Auction is for use within the country for import substitution and is not for export.
Features of the Scheme
Eligibility: Any Indian buyer including traders who imported coal at any point of time in the current year and/or any of the previous two financial years.
Registration: Buyer shall be required to get himself registered with the service provider on submission of documents as per the scheme.
Earnest Money Deposit (EMD): All registered bidders shall be required to submit in advance EMD in the form of a non-interest bearing deposit at the rate of Rs.200/- per ton.
Minimum Bid Quantity: The minimum quantity for bidding would be 25,000 (twenty five thousand) tons for a source for road mode, whereas in case of rail the minimum quantity for bidding would be 50,000 tons.
Monthly Scheduled Quantity (MSQ): The successful bid quantity of a bidder for the period (operative months) would be divided in equal parts for determining monthly scheduled quantities (MSQ) for coal supplies during the period. However both buyer and seller can recast the monthly schedule on mutual consent in advance.
Payment: The successful bidder will be required to deposit coal value against the scheduled quantity of the month with the concerned coal company on monthly basis in two instalments as per bidder’s choice. The first instalment to be deposited within 10 working days of start of the month and the second instalment by the end of the month.
Lifting: The validity period of lifting of coal by road mode shall be 45 days from the date of issue of the delivery order/sale order. The validity period of a monthly programme for movement by rail for seeking allotment of rake shall be 30 days from the last date stipulated for making payment against the MSQ of the concerned month by the buyer and consent of the programme shall be issued by the concerned coal company accordingly. Once the rake is allotted, it shall remain valid for supply of coal as per prevailing railway rules.
