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FAQ - General
 

1. How do I register?

Simply click here to get register and create a user account with www.matexauctions.com. You need a valid email id to have an account. Once you complete the registration, you will receive an e-mail with a link to activate your account. If you do not receive the e-mail, you may contact MatexNet.

2. Can I Change My e-mail ID?

We advice you not to change your email id after registration. In case there is a change in email id, you need to register afresh and create a New Account.

3. Can I change My Password?

Yes. You can change your password at any time. The password should be at least 5 characters in length.

4. How often should I change my password?

You will receive an automated prompt to change your password every 30 days. However, it is advisable to change your password frequently for security purposes.

5. What do I do if I forget my password?

You can reset your password at anytime.

Click on the lost password / forgot password link on the homepage and choose any one of the three options listed to reset your password.

You will receive an e-mail at the registered e-mail ID. Access your mail and click on the link provided in the mail. You will be taken to the website and there you will be able to type your new password.

6. How to participate in tender?

1. You need a valid account in this website www.matexauctions.com

2. If you do not have one, you can register and create one.

3. Enroll your Digital Signature.

4. You need to upload the self attested PAN card Xerox (soft copy).

5. Remit the EMD before the specified date & time as per the tender document.

6. Login to the website with your user ID & Password (if required use your digital Certificate)

7. Click on the Tender Dashboard and select the tender.

8. Accept the Terms and Conditions of the Tender.

9. Now you can click on the "Proceed to Tender Submission" button to submit your offer.

10. Fill all the details in the bid form and submit your offer before the closing date & time.

7. Can I Change / update my offer?

Yes. You can change / update your offer before the closing date & time for that Tender.

8. Can I retrieve my previous offer while I try to submit a fresh offer?

Yes. You will be able to retrieve your previous offer provided you have submitted it using your Digital Signature Certificate.

9. Which one of my offers will be considered if I submit more than one offer for the same property?

Your latest offer shall supersede all your previous offers and will be considered.

10. What is the next step I have to do after submitting my offer?

1. The status of your offer will be available on the "sealed Bid My Cart" link on the website after the tender is opened and approved by DRT/Bank

2. Your participation in the e-auction depends on the status of approvals by DRT/Bank.

3. For any further clarifications, you may contact the DRT / Bank to know more about the status of your offer.

11. Whom should I contact for any clarifications?

You may write to us at bankauctions@matexnet.com or call us at the below mentioned numbers

Contact MatexNet at   044 - 43437436

11. How does the auction process work?

MatexNet prides itself on conducting every auction in an easy and completely transparent way. The entire process is completed in a few steps:

1. Interested buyers can register / can use their existing user ID to participate in tenders.

2. After login, Click on the "Tender Dashboard" and select the tender you want to participate in.

3. Ensure to complete all the pre-requisites for that tender like:

    a. Enrolling your Digital Signature Certificate (DSC).

    b. Remitting the prescribed EMD.

    c. Uploading the self attested PAN card Xerox (Soft copy).

    d. Accepting the Terms & Conditions of the Tender etc.

4. The above steps will enable you to submit your offer for the selected Tender.

5. DRT/Bank will approve/reject the offers received after the Tender Opening.

6. Approved Bidders will be allowed to participate in e-Auction.

7. Buyers should login and accept the terms & conditions again.

8. Click on the "Auction Room" link to enter into the auction room and place your bid.

9. In the Auction Room, you will be able to see the starting price, minimum increment price (on the left hand side of your screen) and your price, highest price prevailing at that point of time (on the right hand side of your screen).

13. Can I inspect the assets/property before the auction?

Yes. You can inspect the property as per the schedule mentioned in the tender document.

14. How can I cancel / withdraw my bid?

No. You cannot withdraw your bid.

15. How will I know if my bid is the winning bid?

Bank / DRT will officially inform you if your bid is the winning bid.

16. What happens if I lose Internet connectivity or electricity while placing a bid? How will I know if the bid has been accepted?

While placing a bid, you will be asked to confirm the bid amount. Once you confirm your bid amount, it appears on the right hand side of the auction room. This indicates that your bid has been accepted in the particular auction against the particular lot/property.

17. What is Earnest Money Deposit (EMD)?

Earnest Money Deposit is the amount that the bidder has to deposit with DRT / Bank as prescribed in the tender document in order to participate in the tender for the particular asset/property being auctioned.

18. What is Reserve Price / Upset Price?

Reserve price / Upset Price is the minimum price for an asset/property fixed by DRT/Bank for the sale of that asset/property.

19. What is Starting Price in an e-auction?

Starting Price in an e-auction is that price at which the auction will start.

20. What is an Auto Bid?

Auto bid is the maximum ceiling amount set by the bidder to enable the auction engine to place bids on his behalf, whenever he is outbid, up to the ceiling set by him.

21. What is Time Extension?

If a market-leading bid (bid higher than the highest at the point in time is received in the last three minutes (�Time Extension� as mentioned in the Bidding Room will be in force & 3 Minutes is an example) of closing time, then the closing time will be extended automatically by three minutes.