Terms & Conditions and Procedure to be followed
Terms & Conditions:
A. The assignment date would be scheduled only when the receipt of agreed assignment and incidental expense in complete amount. The assignment is acceptable for a particular and specified date and time as mentioned in the “Invitation and Assignment Memo”. The amount to be settled in regard to the agreed assignment (unpacking, assaying, packing, regulatory approvals & commercial purchase) is for the specific day arrangement and performance only. The amount is non-refundable. The assignment schedule can be subjected to change before 72 hours. In that event, a payment rescheduling charges of 50% of the assignment charges is applicable. On the countdown of 72 hours, the assignment date cannot be changed and the amount paid towards the said assignment would be forfeited.
B. The testing spot should be for a given specific location, and should not be in forest area. The connecting road to the testing spot must be by a tar road and must be 30 feet wide to ensure smooth locomotion of four wheelers. The distance must not be more than 20 feet from vehicle parking spot to testing and delivery spot. The company is shall make its own arrangements for accommodation and road transport and also other safety measures involved therein.
C. The location of the testing spot must be accurate as per the given address details in Invitation Memo. The location map submitted to the company must also be accurate. The roofing of the testing spot must be concrete mold or cemented sheets, and must be at a minimum distance of 500 meters from HT electricity wires, transformer or Tower.
D. The custodian should un-pack the material and hand it over to our company’s authorized person, appraiser, metallurgist or senior metallurgist for testing purpose.
E. The acceptance of the company towards the assignment of unpacking the chemically bonded packaged material, must be followed by providing it with accurate and matching details of the chemicals. If in case any of the details of the chemicals provided to the company consists inaccurate compositions and properties, then the company reserves the right to abort the assignment; thereby will not be held responsible in any manner.
F. If an identifier/custodian fails to produce the material within the stipulated time i.e. by ……00 am and or maximum by ……00 am, and during the course of testing if the material is found to be duplicate or dummy in nature, and if the custodian is having any pending criminal case or FIR in any court or police station in a country, or if number of people increased to four at the spot from custodian side, or the atmosphere at the spot is not peaceful, then the assignment will be aborted and cancelled. The charges paid towards the assignment would be forfeited.
G. If the testing report is positive and the final test which indicates the third test has been confirmed by 12.30 pm, in that case the material will be placed in the joint custody at the testing spot itself, and two people will join in joint custody as the company’s representatives at the same spot.
H. After implementing the aforementioned norms, the custodian has to sign the declaration form and agreement and provide his photographs, ID proof and address proof. While in joint custody, once the company’s representatives feel the atmosphere is safe and apt for the testing and delivery spot of the material, they will thereby send the required positive information and coded signal to the company.
I. On the receipt of the required positive information and coded signal sent by the company’s representatives (which should be within 01.00 pm on the testing day), the gift money will thus be delivered at the location within pre-agreed time and on the agreed date itself if no breach is committed for any of the clauses mentioned herein above.
J. If the test confirmation is done after 01.00 pm then the issued financial bond will be closed & the agreed gift amount money will be paid only on the next bank working day and it is subject to the payment of financial bond opening charges which is equivalent to the amount of 50% of the assignment charges.
K. After delivering the agreed gift amount at testing spot, the joint custody of the material will be at the agreed safe place with two representatives from the company and two from custodian side, including 4 security personnel presence until the legal registration is obtained from the regulatory authority.
L. The disbursement shall be done as per the agreed payment schedule, and the transaction will be completed within 45 working days.
M. The proof of funds can be provided only after the completion of 3 consecutive positive tests and joint custody, or after obtaining regulatory consent and registration from the regulatory body of the radioactive source, or it can be provided on payment of the 5% of the total amount of the funds as per your wish; prior to the testing.
N. The custodian must possess and carry his local proof of address and identity card issued by the local government, so as to ensure smooth obtaining of approvals from the regulatory bodies.
O. If any criminal case or a complaint is found pending in the court or police station against the custodian, then the assignment is liable to be cancelled at the very same moment and charges paid towards the same will be forfeited and any amount paid will be recovered from the custodian with suitable penalty.
P. The source radioactive material can be put in our auction house directly for auction, provided the seller has obtained regulatory approvals and is thus subjected to the payment of USD 1000 Million as an auction arrangement fee. The source material must be placed in our bonded warehouse.
Q. All payments should be made in favour of “GORINGES INTERNATIONAL”, and for cash payment made to our authorized representative(s) shall be confirmed and verification would be provided by the same representative on our website for having received the cash by the company for the proposed assignment.
R. We strongly advise to cross check with us to corroborate the identity of our representative. In case of suspicions, our representative can also arrange the identity verification through his/her individual password on our website.
S. For any business proposal & invitation the company must be kept well informed at least 7 working days (15 working days for high radiation material ) well in advance of the proposed business assignment which must be scheduled by paying the full assignment charges.
T. Our consulting fee is USD 800 for each session of half an hour, and if you are consulting us without test sample or lab report of test sample then it would be a waste of time for both the parties.
U. Our license and documents can be displayed on the payment of USD 10,000 prior to the testing.
V. The photocopies of our license and documents can be provided on payment of USD 10 million.
W. The verification of our license and documents can be arranged & confirmed on payment of USD 50 Million prior to the testing.
X. We do testing/appraising at our designated place and also on-site, but for on-site visit testing/appraising charges will be extra.
Y. Any request to reschedule the assignment date shall be made before 72 hours of the particular assignment and would be subjected to the payment of rescheduling charges which is an additional 50 % of the agreed assignment amount, and after 72 hours no such requests will be entertained.
Z. The assignment amount is non-refundable.
Procedure:
1. The company initiates and executes the task as per the agreed and accepted “Invitation & Assignment Memo” (Unpacking, Testing, Packing, Regulatory Approvals & Legal Sale-Purchase).
2. The company should be engaged by paying requisite arrangement fee 10 days in advance, or 15 days in advance (for high radiation materials) which is a part payment of our ASSIGNMENT charges, and upon receiving receipt of the same the company will make all the necessary arrangements.
3. The company after making all necessary disposition, shall issue the demand note to allow the transaction of the balance amount of assignment charges within the stipulated period.
4. The company after receiving receipt of the agreed total onsite assignment charges, shall confirm its task commencement date & time, in 10 days (15 days for high radiation material) in advance.
5. The company expert team shall visit the testing spot on the committed date to test and pack the material as per safety norms and guidelines issued by the competent authority.
6. The testing spot should be easily accessible by motor-able road, if the testing spot is changed without intimating the company then the company reserves the right to refuse the testing of the material on the given date and time and the testing charges paid would be forfeited.
7. On scheduled date and time our metallurgist/appraiser will test the material manually and with the radiation monitor/detector device depending on the payment made.
8. The company officials will not be offered with any food or beverages items at the testing spot.
9. The company metallurgist/appraiser after having found it a genuine material, shall pack it with the same packing material or with its new anti-radiation material (if the charges for the same is paid in advance to the company) so as to ensure the complete safety of life and material.
10. On successful completion of the third test, the material will be placed under joint custody and company shall bring internationally recognized master appraiser. He will also test the material, valuation will be assessed scientifically following that the material shall be packed carefully by preparing a complete record of the packing details along with diagram of the same.
11. The declaration form has to be signed by the identifier/custodian by giving the exact address in the declaration/application form so as to ensure accurate registration of the material with the competent regulatory authority.
12. The company official shall approach the competent authority with the record file containing all the requisite details for the regulatory consent and approval and the custodian has to extend his full cooperation to obtain the regulatory approval and registration process.
13. Once the detailed record file of the material is prepared, and moved towards the regulatory authority for the approvals, the material shall be placed under the joint custody at the given address in the record file to be registered with the regulatory authority.
14. The location of the joint custody can be an individual house, or a star hotel or a resort and it may be noted that the same place and address of the joint custody is required for registration with the competent regulatory authority and shall be the same till the final completion of the business.
15. For any valid reason if the joint custody registered address is required to be changed, then it can be done after obtaining the requisite approval from the authority of regulatory organization.
16. After obtaining the regulatory consent and legal registration of the material from the competent regulatory authority, security personnel will be deployed at the joint custody site from the government side as well, and the company mobilizes funds and the same will be arranged and parked outside India.
17. The purchase order will be issued in favor of the competent authority as per the prescribed format and a considerable amount of payment shall be made to the account officer of the concerned government department.
18. The Company also approaches all the concern departments for obtaining the necessary regulatory consent and approvals by following a proper procedure.
19. Within 45 working days the company shall complete the business and make the full and final payment to the custodian and beneficiaries involved through the bank account transfer funds and the same shall be duly super tax paid.
20. After obtaining the no claim letter from the custodian/identifier, company takes the material to its place.
21. After obtaining the necessary road transportation permission, the port clearance, and also the export clearance, the material will be exported, and after the export RBI clearance will be obtained.
