Salvage Buyer Declaration

SALVAGE BUYER DECLARATION
I ___Mohd Iqbal____, Authorized representative of _REAL STEEL SALES___

having PAN number _ABMPM5999F__ and address
viz._______________________, do hereby solemnly declare and undertake as
under:
1. I undertake that we are engaged into the business of buying and selling
salvaged items.
2. I declare that we approached ICICI Lombard General Insurance Company Ltd
(herein after referred to as ‘the Company’) and shown interest in executing
salvage deals arising by virtue of the policy issued by the Company upon the
terms and conditions more specifically described herein below.
3. I agree and understand that by this declaration, we are bound to the purchase
of salvage vehicle including but not limited to damaged material.
4. I am purchasing the insured salvage vehicle with utmost consciousness and I
am under no duress, threat or coercion from anybody whosoever. I further
agree and understand that the Company may, at its discretion, appoint other
buyers for providing the services and appointment of such other buyers shall
not give rise to any cause of action.
5. I understand that the Company is merely a facilitator of salvage and is not
responsible for transaction of salvage between the buyer and the insured (i.e.
the seller).
6. I further undertake to pay to the insured the purchase price as bid by us as
consideration for the salvage deals allotted by the Company through the
negotiable instrument.
7. I hereby agree to indemnify and hold harmless the Company and its
employees, directors, officers and representatives from any and all losses,
claims, expenses and liabilities (including attorney – client expenses) directly
on account of any wrongful actions of us or our respective employees, agents
and representatives or arising out of a breach by the us in complying with his
obligations whether arising under this declaration.
8. I shall be fully responsible for all kinds of legal, statutory or non-statutory
liabilities, including but not limited to challans, taxes, accident etc. for the
salvage vehicle from the date of purchase.
9. I hereby assure that we have all the necessary approvals, registrations and
licenses required for rendering the Services. I further agree to provide the
Company a copy of such license and copies of the renewals thereof, upon
request from time to time.
10. I ensure that we conduct our business and activities in such a manner that the
reputation, standing and goodwill of the Company is in no way adversely
affected or compromised.
11. I further declare that it shall be our statutorily responsible for the
malfunctioning of the salvaged materials/condemned goods subsequently
sold and informing the regulatory authorities, if any, and following the
processes of the regulatory authorities accordingly.
12. I confirm that we shall be statutorily liable for all applicable taxes including
sales tax arising out of goods sold by us.
13. I also undertake to keep the confidential information relating to insured, and
ensure that such confidential information, where not mandated by law, is not
used for research, creating comparative databases, statistical analysis, or
other studies without appropriate and prior authorization from the Company
and through the Company from the insured.
14. I expressly hold myself responsible for transfer of title of the vehicle in my
name and to accord the change of ownership record with the appropriate
authorities.
15. Additionally, I undertake that we shall not be entitled to assign, delegate or
otherwise transfer our rights, duties, liabilities and obligations under this
declaration to any third party without the prior written consent of the
Company. We further undertake that we shall not be entitled to sub-contract
its obligations under this declaration without the prior written approval of the
Company.
DEPONENT
Verification:
I, __Mohd Iqbal______the above named deponent do hereby verify on

oath that the contents of the declaration above are true and correct to the best
of my knowledge and nothing material has been concealed or falsely stated
therein.
Solemnly affirmed at _______________ on this ____ day of__________

2023
Before me
DEPONENT

Salvage Buyer Declaration

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SALVAGE BUYER DECLARATION

I _Mohd Iqbal__, Authorized representative of _REAL STEEL SALES___

I, Mohd Iqbal____the above named deponent do hereby verify on

Solemnly affirmed at _____ on this day of

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