If you are looking for the MSTC eCommerce site, it is possible you are interested in learning how to access the online auction site of MSTC, how to register as a buyer, how to participate in e-auctions, how to make EMD, or you want to check coal, scrap, minerals, land, and other customs goods auctions.
Traditionally, online shopping means purchasing goods via the internet. However, MSTC e-Commerce has nothing to do with online shopping. It is an e-commerce and electronic auction business controlled by MSTC Limited which is a Public Sector Undertaking of the Government of India. The site conducts online auctions, electronic tendering and other forms of online trade.
The official site of MSTC Limited
To participate in an auction, the applicant must register and satisfy the conditions of the auction. Registered buyers can examine the terms and conditions of the auction, lots and other details, and make EMD prior to the auction. Eligible buyers can participate in the online auction.
MSTC e-commerce is the digital arm of MSTC Limited. It runs online auctions of coal, scrap, minerals and other goods. MSTC provides e-auction services to Government departments and PSUs.
The process for placing a bid through MSTC is different from, say, Amazon. Instead of selecting items in a catalog and placing them in a shopping cart, a bidder must participate in a structured process. This process might take the form of an auction or a tender. The Specific terms and conditions associated with each process must be examined in detail before participation.
What Products Are Available on MSTC?
MSTC provides access to the following product and service categories:
- Scrap and surplus goods
- Customs and brokerage services
- Coal
- Minerals
- Ores
- Other minerals
- Real property
- Agriculture and forestry
- Energy and power
- Projects
- Electronic Government and Institutional auctions
- Electronic procurement and tendering
- Other specialized markets
Specialized markets are further sub-divided into various categories and product groups. The MSTC website hosts auctions in various product categories and provides means to search for relevant auctions.
What Is the MSTC Bid Process?
Participation in MSTC auctions includes the following steps:
- Locate an auction of interest
- Evaluate the terms and conditions relevant to the auction of interest
- Complete a buyer/bidder registration, if not already done
- Submit a refundable/non-refundable/partial payment, if required
- Submit a bid, if interested in the item offered for sale.
Other details relevant to the auction must be understood before bidding. For example, submission of a bid does not imply the bidder will be granted the right to make an offer to purchase the goods.
Registering to Buy on MSTC E-Commerce
Currently, MSTC has an online form for general buyer registration. Once the form is filled out and submitted, buyers are required to verify their mobile number and email ID. Buyers have to submit the required document and registration form for further verification.
General MSTC Buyer Registration
The Registration process is as follows:
- Go to the official MSTC website
- Go to the registration or auction tab
- Enter your email ID and mobile number to receive a one-time password (OTP).
MSTC states one email ID and one mobile number are allowed per registration, and the OTP has a time limit.
4. Choose the registration type
The options for registration type depends on the kind of service MSTC provides.
Some of the general registration types are:
- Auction
- Property Auction
- RSMML auction
- Diamonds
- Major Mineral Blocks
- JSMDC
- Other areas
The process for Customs auction registration is different and should be completed as per MSTC process.
5. Upload the registration form
MSTC may also request supporting documents to verify your business, identity and eligibility. The documents may include PAN, GST, and others.
Certain registration processes require additional documentation. Bidders should consult the document lists provided in the auction-specific instructions. Bidders should not assume that documentation lists provided by MSTC for one auction would be the same for other auctions.
5. Upload or Submit Required Documents
Supporting documents may be uploaded during the registration process.
MSTC provides registration and auction process documentation that is specific to categories, and provides additional processes and considerations. In cases where the process varies for a category, documentation for the category process should take precedence.
How to Access MSTC Auctions?
MSTC’s web page contains procedures for searching and accessing auctions.
Categories of auctions include Scrap, Customs goods, Coal, Minerals, and others.
Further categories of Coal, Coal mines and Mineral blocks are also available on the page.
Details to be considered while accessing an auction includes Reference number of the auction, Date from which the auction process starts, Auction Ends, Description of the item, Quantity of item, Location of the item, EMD, Minimum price, Terms of payment, Conditions of removal of the item, Local and other process considerations.
What is Earnest Money Deposit?
Earnest Money Deposit (EMD) is the amount of money bidder is required to deposit to demonstrate interest in purchasing the item. The amount, method of payment and process varies for each auction.
MSTC has a Global Pre-Bid EMD process for specific general auctions. More information on this process can be found in MSTC’s Frequently Asked Questions (FAQ). If a bidder wishes to participate in a MSTC general auction, the bidder must have a sufficient balance in his/her/their Global Pre-Bid EMD account.
EMD and the available balance in a bidder’s Global Pre-Bid EMD account can be viewed in the bidder dashboard.
What are the Consequences of Failing to Review the Terms and Conditions for EMD?
It is important to review the specific terms and conditions for each individual MSTC auction to determine requirements such as the amount of EMD required, the means of payment, and the due date for payment.
Additionally, each bidder must review the terms and conditions for a particular auction to learn the reasons for forfeiture of EMD. Generally, the terms and conditions for an auction are the foremost binding source for provisions regarding MSTC auctions.
MSTC auctions are conducted online. Users can access auction floors after successfully completing MSTC’s registration process and meeting specific eligibility requirements. Each auction floor contains specific information for the lots (units) that are available for sale.
Some MSTC auction systems allow for bids to be placed automatically, while others do not. The availability of the Auto Bid function for a given auction must be determined on a case by case basis.
AUCtion Closings and Bid Extensions
Some of the MSTC auctions allow scheduled closings to be extended.
Description of extension methods, if any, for an MSTC auction, can be found in the documentation of that auction. For example, in MSTC’s FAQs for coal auctions, extension of scheduled closings by five minutes is mentioned, in case a bid is received during the last five minutes of scheduled closing of an auction.
Therefore, a scheduled closing time, as shown, may not necessarily indicate the end of the auction.
MSTC Coal E-Auctions
MSTC has different areas of specialization, and coal is one such area.
Information on coal auctions organized by MSTC and various Coal India Limited (CIL) subsidiaries and Singareni Collieries Company Limited, is available on the MSTC Coal Portal. This includes buyer’s registration, auctions, guidelines and other related information.
Different coal auctions may have:
- Different guidelines for buyer registration and renewal
- Rules for Earnest Money Deposit (EMD)
- Minimum bid limits
- Digital Signature
- Auction duration
- Rules for bid extension
- Terms for payment
- Other conditions of sale.
For instance, the current coal portal of MSTC specifies revised process fees applicable for CIL e-auctions, with effect from 1st May, 2023. It is recommended that bidders review the latest notices of coal auctions to understand the up-to-date auction processes and fees.
MSTC Coal E-Auction Portal
MSTC Property Auctions
Property Auction Information Portal The MSTC Realty portal provides information on property auctions. It categorizes properties as Residential, Commercial, Agricultural, Industrial, and Others. It provides bidder’s guides, and information regarding registration and EMD. Property auctions require detailed due diligence. The website for MSTC’s property auctions states that MSTC disclaims all warranties regarding the property listed for sale. It is a legal disclaimer and does not reflect on the quality or title of the property. It should be noted that no legal and property due diligence should be carried out by a potential buyer based on the information provided on an auction listing. MSTC Customs E-Auctions In addition to property auctions, MSTC offers e-auctions for the customs sector. Customs auctions are processes to dispose of goods that have been seized or are under the control of the customs authorities. The process is governed by the terms and conditions of a customs auction. The customs authority provides information regarding the auction, registration, bidding, and payment processes. It is the responsibility of the potential bidder to read and understand all the terms and conditions of the auction. MSTC E-Procurement Process MSTC offers other services including e-procurement. MSTC’s e-procurement service enables its clients to conduct electronic tendering and procurement processes. The company claims that its e-procurement solution has been used by various public sector banks, ministries and Departments of the Government of India, and state and central public sector undertakings.
Understanding these differences is essential.
MSTC Service Common Use
E-Auction Online process for soliciting bids
E-procurement Online process for sourcing and awarding contracts
Coal E-Auction Online process for purchasing coal through auction
Property Auction Auction of state property
Customs Auction Auction of goods by customs
Special Marketplaces Online platforms for buying and selling of goods and services
MSTC Metal Mandi Online platform for purchasing and selling of metals
Another service offered by MSTC is MSTC Metal Mandi (M3).
M3 is a website and mobile application for trading metals and other goods. The service enables small and medium enterprises to trade goods online.
Due to the nature of MSTC eCommerce services, the term eCommerce for MSTC refers to multiple online trading and auctioning services.
MSTC e-Commerce Services Explained
Although multiple services are offered by MSTC, only a few require digital signatures for user authentication to transact.
Digital signatures for MSTC services are valid for a given period, after which they have to be renewed. Technical settings on the user’s device may affect the digital signature and require configuration for specific e-Auctions.
Apart from digital signatures, specific MSTC services may require additional hardware and software to access their e-Auctions and complete transactions.
MSTC’s coal auction portal requires system setting details regarding digital signatures. MSTC’s online procurement portal mentions that the buyers/sellers wishing to take part in any of the auctions must possess a valid class III digital signature certificate.
Because of changing nature of technology, old browser based instructions may not be relevant and thus, may not be relied upon, to set the system.
MSTC also has a number of training/instructional videos, which may also be useful.
Some of the important points to consider while participating in an auction through the MSTC platform are as under:
- Making the Earnest Money Deposit (EMD) does not guarantee that you will win the auction.
A number of factors affect a successful bid. For e.g.,
- Inspection of the goods may be done prior to the auction. If you wish to do an on-site inspection of the goods, you may exercise this right.
- You must ensure you have adequately understood the various measurements and definitions used for the description of the goods/services, particularly, if the measurement is in tonnes or lots.
- Other expenses such as cost of transportation, taxes, duties, customs clearance, loading charges, insurance, etc. must also be evaluated.
- Lifting and transportation of the goods must be done within the stipulated time.
- Prior to bidding, carefully read the terms and conditions of the auction.
- Prior to bidding, review the legal and physical aspects of the due diligence. In case of your interest in specialized or specific goods, you must also review the legal aspect of due diligence.
- Bids represent financial commitments. To place a bid you must understand the conditions of the auction and the financial and other commitments you will be making if you are successful.
typical problems faced by customers using MSTC’s e-commerce platform, and probable solutions
Problems Related to Registration and Accounts
I am unable to register on MSTC
Check whether
- The email ID is valid
- The mobile number is active
- OTP verification is done
- You have chosen the correct category
- Required documents are scanned and uploaded in the correct format
Problems Related to EMD
EMD is not reflected against my name
Check the transaction status and the relevant ledger/payment section.
For general auctions, the EMD will be debited from the buyer’s account and will be reflected in the buyer’s ledger.
Problems Related to Bidding
I am unable to place a bid
- Financial/other commitments for the auction have not been completed
- EMD balance is inadequate
- Account is not active
- Digital signature is not done
- Because of a system/technical problem
- Auction is closed/not opened
- Restrictions for the lot being bid for
Check the instructions for the specific auction.
General Measures for Security
As financial transactions are made online, it is important that best practices for online security are implemented.
Ensure that you are using the official web address for MSTC.
MSTC Portal
Your login credentials give you access to private information. Share them with no one.
Verify The Information You Receive
Check the auction details you receive against information on the official MSTC website.
Old Blogs May Be Misleading
MSTC has numerous auctions. Fees vary across auctions. Conditions may also vary across auctions. Information on fees may differ across blogs.
Important Documents
You should keep records of-
- Auction catalog
- T&C of the auction
- Payment receipt
- EMD records
- Bid record
- Sale record
- Record of correspondence with the auction house
MSTC E-commerce VS Conventional Online Shopping
MSTC is different from conventional e-commerce in several ways. The variations are outlined in the table below.
FAQs on MSTC e-Commerce
What are MSTC e-Commerce services?
MSTC e-Commerce provides services in online auctions and procurement. MSTC organizes auctions for a wide range of items, including coal, scrap, minerals, customs bonds goods, properties, etc.
Is MSTC e-Commerce an online shopping site?
No, MSTC e-Commerce is not an online shopping site. It is an online platform for auctions and tenders, as well as other specialized types of commercial services.
How do I register with MSTC?
To register with MSTC, you have to visit the MSTC e-Commerce site, and fill in the required information for the buyer registration section.
Is it free to register with MSTC?
Not always. Registration charges are determined by the services or auction categories. To register for coal auctions, for example, charges would be applicable.
What is EMD?
EMD means Earnest Money Deposit. It is a monetary deposit made by a bidder in an auction process. The amount is decided for that particular auction process.
Can an individual take part in MSTC auctions?
Yes, individuals can take part in MSTC auctions. However, there are some auctions where only specific types of buyers, including individuals, can take part, and there are auctions that can have restrictions in the form of business, financial, and other requirements.
Can I purchase property through MSTC?
MSTC conducts online auctions for various types of properties including residential, commercial and agricultural.
Is MSTC owned by the government?
MSTC Limited is an enterprise of the Government of India.
Where can I see a listing of MSTC auctions?
You can see current auctions being conducted by MSTC on their official website.
Does MSTC provide any assistance for the use of their electronic auction system?
Yes, MSTC has a helpdesk for users of their electronic auction system and supply related documents to assist users with bidding and sale procedures.
Final take
Although it may appear to be a typical online shopping website, MSTC eCommerce is a Digital Auction, Tender and Specialised Commerce platform.
In order to purchase a product via MSTC, you must find the applicable auction, assess your eligibility to take part in that auction, register on the MSTC website, submit the necessary documents and earn’s money deposit’ (EMD) and study the terms and conditions of the auction.
As each of MSTC’s various services have different terms, conditions and fees, it is best to examine the auction catalogue for the most up to date conditions.
To avoid risk, you should assess all the terms, conditions and fees associated with an auction and do your own research before placing a bid.
