We hereby agreed that:

1. We have read, examined, understood and signed, the terms and conditions of the auction as mention in auction document and we are binding on the same;

2. We offer to bid in conformity with auction/Tender Document;

3. Our submitted bid shall be binding upon us;

4. We agreed that auctioneer is not bound to accept highest bid in case of forward auction or lowest bid in case of reverse auction;

5. Auctioneer has right to cancel auction at any moment without prior intimation and we shall be bound on the same;

6. We shall not have any rights against the auctioneer/LIPL in case failure of internet connection except as mentioned in the terms of auction documents.