As suggested by the name, e-waste auctions are auctions/negotiations conducted through an online/ offline platform for waste and end-of-life electric and electronic products. Auctions are highly confidential events conducted between the auctioneer and a set of qualified bidders. Traditional auctions and E-auctions are the two-mode to organise e-waste auctioning in the country. E-auctioning is preferred today by private and public sector entities to dispose of their e-waste at the best price. Both modes follow the“as is where is” principle. Some other advantages, like the lower cost of conducting the auction, transparency, and a broader reach, are a few of the numerous benefits associated with the online auction mode. For instance, no outsider can view any aspect of an e-auction event without proper authentication by the auctioneer. Therefore all data like Items’ specifications, pricing, bidders’ information, and bid data are confidential and available to respective auctioneers only, increasing the process’s transparency. Apart from the standard regulations that bar specific entities from participating in the auction, any entity, be it a company or an individual who wishes to bid or participate in the auction event, can do so by following the SOP for registration, inspection and bidding process. The bidder can register either as a company by providing a CIN number or as an Individual by providing PAN card details along with the other necessary documents. These additional documents must be submitted online, too. The applicant must check the document approval status in advance, as only approved bidders can view and participate in the online live auction. In the following article, we will be learning in detail who can participate in an e-waste auctioning process, the eligibility criteria and the regulations governing the participants’ conduct before and during the auctioning process.
Individuals, as well as registered e-waste businesses, can participate in the e-waste auctioning process. In the case of the company, the bidder should be registered with the Central Pollution Control Board (CPCB), State Pollution Control Board (SPCB) or Pollution Control Committee (PCC). However, regardless of the mode of auction performed, every bidder should have a legally sound reason to participate in e-waste auctions. In addition, they must have eco-friendly waste management facilities or means to recycle the waste and its proper disposal as per the provisions of the E-Waste Management Rules, 2016 and the guidelines provided by the government. The term “company” can include entities with the following legal status.
If we look at the category in which the waste management businesses usually fall, the following businesses can enrol themselves for e- auctioning.
To participate as a bidder, the individual must register and perform the bidding process carefully. After going through the terms and conditions of the auction, the interested individual must fill out all the required details in the registration form. The bidder or any authorised representatives can inspect the E-waste to be auctioned to ensure quality, usefulness, and the item they are bidding on. All serious bidders must register themselves carefully and give the correct details. They must pay the EMD amount to be able to participate in the bidding of the auction. The details of the entity needed at this stage are
Documents to be submitted with the bid
Because of the mounting e-waste and lack of transparent means for trading in the e-waste sector, most of the e-waste is still reaching landfills after unscientific and unregulated e-waste management practices like illegal dumping, dismantling and metal recovery. Therefore the government is promoting novel means to facilitate waste trade practices, and e-waste auctions have proven to be a successful step in this regard. Thus, the government and many private entities have developed e-auctioning software and digital platforms that connect domestic and international buyers and sellers by organising a regulated e-waste auctioning process.
Read our Article: What are Compliance Requirements for E-Waste Refurbishment Business?