The basic principles to be followed here are similar to those applicable for disposal through advertised tender so as to ensure transparency, competitions, fairness and elimination of discretion. The auction plan including details of the goods to be auctioned and their location, applicable terms and conditions of the sale etc., should be given wide publicity in the same manner as is done in case of advertised tender. While starting the auction process, the condition and location of the goods to be auctioned, applicable terms and conditions of sate etc., (as already indicated earlier while giving vide publicity for same), should be announced again for the benefit of the assembled bidders. During the auction process, acceptance or rejection of a bid should be announced immediately on the stroke of the hammer. If a bid is accepted, earnest money (not less than twenty five percent of the bid value) should immediately be taken on the spot from the successful bidder either in cash or in the form of Deposit-at-call-Receipt (DACR), drawn in favour of the Kendriya Vidyalaya/Kendriya Vidyalaya Sangathan [RO/ZIET/HQ] selling the goods. The goods should be handed over to the successful bidder only after receiving the balance payment. The composition of the auction team should however include an officer of the Internal Finance Wing of the department./an officer authorised by VMC 187 F - Disposal at scrap value or by other modes: If a Kendriya Vidyalaya/Kendriya Vidyalaya Sangathan [RO/ZIET/HQ] is unable to sell any surplus or obsolete or unserviceable item in spite of its attempts through advertised tender or auction, it may dispose of the same at its scrap value with the approval of the competent authority inconsultation with the Finance Division. In case of Kendriya Vidyalaya/Office is unable to sell the item even at its scrap value, it may adopt any other mode of disposal including destruction of the item in an eco-friendly manner. A sale account should be prepared for goods disposed of in Form GFR 18 duly signed by the officer who supervised the sale or auction. Form is given below GFR 18 [Article 187 F ] Sale Account
The basic principles to be followed here are similar to those applicable for disposal through advertised tender so as to ensure transparency, competitions, fairness and elimination of discretion. The auction plan including details of the goods to be auctioned and their location, applicable terms and conditions of the sale etc., should be given wide publicity in the same manner as is done in case of advertised tender. While starting the auction process, the condition and location of the goods to be auctioned, applicable terms and conditions of sate etc., (as already indicated earlier while giving vide publicity for same), should be announced again for the benefit of the assembled bidders. During the auction process, acceptance or rejection of a bid should be announced immediately on the stroke of the hammer. If a bid is accepted, earnest money (not less than twenty five percent of the bid value) should immediately be taken on the spot from the successful bidder either in cash or in the form of Deposit-at-call-Receipt (DACR), drawn in favour of the Kendriya Vidyalaya/Kendriya Vidyalaya Sangathan [RO/ZIET/HQ] selling the goods. The goods should be handed over to the successful bidder only after receiving the balance payment. The composition of the auction team should however include an officer of the Internal Finance Wing of the department./an officer authorised by VMC 187 F - Disposal at scrap value or by other modes: If a Kendriya Vidyalaya/Kendriya Vidyalaya Sangathan [RO/ZIET/HQ] is unable to sell any surplus or obsolete or unserviceable item in spite of its attempts through advertised tender or auction, it may dispose of the same at its scrap value with the approval of the competent authority inconsultation with the Finance Division. In case of Kendriya Vidyalaya/Office is unable to sell the item even at its scrap value, it may adopt any other mode of disposal including destruction of the item in an eco-friendly manner. A sale account should be prepared for goods disposed of in Form GFR 18 duly signed by the officer who supervised the sale or auction. Form is given below GFR 18 [Article 187 F ] Sale Account
5806-revisedkvsaccountcode.docx