- Upset price fixed by the committee (Headed by the Secretary, Mines & Mineral Development Department).
- Conduct of open auction by Auctions committee (Headed by the Director General, Mines & Mineral Development).
- Eligibility for participation:
- Earnest money 5%
- National Identity Card
- Authorization letter (in case principal is not able to participate himself).
- Memorandum / Articles of association (for firms companies).
- Earnest money for first three highest bidders is retained till finalization of the award.
4. Acceptance of bid letter issued after approval of the Competent Authority/ Government.
5. Advance payment of 10% plus 5% Security deposit of the bid amount before execution of the final contract contract/award/agreement/handing over possession.
6. Contract amount is payable in nine equal monthly installments.
7. The first installment would be paid before 7th of commencing month.