SalvageSpace.comeAuction & Classified for Salvage, Scrap & Idle Assets

Salvage Settlers Pvt. Ltd.RP-22, II Floor, Pitampura, Delhi-34, India

Salvage Space Commercial Brokers LLC.408, Pace Business Center, Baniyas Square, Deira, DUBAI P.O. Box - 3345

E: info@salvagespace.comW: www.salvagespace.com

eAuction & Classified for Salvage, Scrap & Idle Assets

We focus on continuously improving ourservices and enhancing our turnaround timefor salvage and asset disposal. We consistentlybenchmark our performance againstcustomer expectations, industry norms andagainst our own past performance.

PRIVATE & PUBLIC AUCTIONSPrivate auctions are for high value and highdemand items and are by invitation only.Public auctions are open to all interestedparties and handle items with a low valueand/or limited demand. Details on all currentauctions are available on our website:www.SalvageSpace.com.

CLASSIFIED LISTINGSWe provide a classified listing facility to enablebuyers and sellers of idle assets to cometogether and deal directly via our website. Thisbroadens the market for items of salvage andscrap, enabling sellers to realize greater valuefor their idle assets and providing buyers witha wider range of purchase opportunities.DAILY OPERATIONAL MANAGEMENT

OF ALL eAUCTIONS

Our ServicesOur comprehensive range of salvage, scrap andasset disposal services includes:

FORWARD eAUCTION SERVICESWith our eAuction services, sellers achieve anoptimized value for idle assets and items ofsalvage or scrap. We offer both private andpublic auctions to more effectively handleitems of different demand and value. For bothtypes of auction, we are involved in ongoingdaily operational activities and facilitate theauction process from beginning to end.

MARKET MAKINGAs part of the auction process,SalvageSpace acts as a market maker togenerate demand and participation amongpotentially interested parties. The teamdraws on its experience and creativity inseeing opportunities to utilise specific typesand conditions of salvage, scrap and idleassets in new, value-maximizing ways.

salvagespace provides customized services for specific industry sectors. For the insurance industry, salvagespace offers the following turnkey solution:

SITE ASSESSMENT Identification of salvage• Recommendations for salvage protection• Photography of the salvage: both affected & unaffected property• Fixing the reserve price of salvage• Proposal of inventory protection plans• Plan to prevent further loss of profit due to business interruption

DAMAGE EVALUATION• Verification of the inventory• Evaluation of the nature and extent of damage• Segregation of the affected and unaffected stocks• Arranging for product testing for contamination

INVENTORY PREPARATION• Segregation of salvageable goods to prevent cross-contamination• Arranging for necessary cleaning and display preparation• Determining inventory disposition strategies, such as palletizing, trucking and storage• Estimate of salvage value

PROTECTION OF BRAND & LABELS• Cutting and/or removal of brands and/or labels• Salvage stamping or marking• Destruction of property

Sal

vor S

ervi

ces

About UsSalvageSpace (www.SalvageSpace.com) is an onlinemarketplace that helps organizations maximize recovery andminimize loss from salvage, scrap and idle assets. These items canbe damaged, distressed, obsolete, old, rejected, abandoned, secondhand or otherwise unwanted assets, capital equipment, cargo andmerchandise. We deal in an extensive range of goods – fromagriculture and electronics, to textiles and metal – facilitating andsupporting the transformation of salvage, scrap and idle assets intocash for organizations across the country.

Buyers and sellers come together at SalvageSpace onlinemarketplace and trade using our eAuction and classified listingfacilities. Sellers optimize the value of their assets and buyersbenefit from easy access to a diverse range of goods.

Formed in 2007, SalvageSpace has a strong, cohesive team ofexperts with extensive experience in asset valuation, assetdisposal, information technology and marketing. With ourknowledge of salvage, scrap and asset management, we know thattrading transparency and fairness is critical to optimizing value. Todeliver this, we invest huge effort in demand generation andmarket-making and we provide a robust technology platform tosupport dynamic forward eAuctions and classified listings.

Our customers rely on us to promote their salvage, scrap and idleassets in an innovative and value-maximizing way. And regardlessof where our customers are located, we provide immediate andend-to-end support throughout the process.

How we OptimizeValueWe optimize value for our customers by building solid demand for all salvage, scrap and idle assets that we auction online and by following our proven eAuction process.

We immediately assess and value the items, where necessary taking measures to minimize potential loss. We prepare terms and conditions of sale, extensively promote the assets among potential buyers, organize material inspections, arrange auction demos, manage the eAuction and handle the final settlement process.

Critical to success is market-making. By promoting items rigorously among potential buyers across the country, salvagespace generates a strong pool of demand for every item at eAuction.

We work in a transparent and fair manner, ensuring all parties have complete information on the assets and the process, so that we optimize value for both sellers and end buyers.

BY BEINGEFFICIENT,CREATIVE &PROFESSIONAL,WE DELIVER VALUE –MAXIMIZING RECOVERY& MINIMIZING LOSS.

Why SalvageSpaceVALUE OPTIMIZATIONOur process is focused on optimizing value for our customers. Weensure assets are handled to minimize loss, are marketed widelyamong potential buyers, and are traded in a fair, fast and efficientmanner.

STANDARDS-BASED SERVICESWe base our services on industry standards promoted by bodiessuch as the CVC, IRDA, GIPSA and CBDT, to meet audit and statutory requirements.

SPEEDWe know that speed of response is essential to minimize loss fromdamaged assets and to realize a quick transformation of assets intocash. SalvageSpace has a team of professionals located across thecountry who act promptly to bring salvage, scrap and idle assets toa market of interested buyers.

OPTIMUM RESOURCE ALLOCATIONBy handling time-consuming activities, such as buyer scouting,promotion, negotiations, lifting and payment, we enable ourcustomers to focus on core business and allocate resourcesoptimally.

EXTENSIVE EXPERIENCE IN MARKET MAKINGOur leadership team comprises individuals with expertise in criticalperformance areas: asset valuation, asset disposal, insuranceclaims, information technology, market research and analysis, andonline sales. We pioneered the concept of professional assetdisposal management in India, originally evangelizing the concept across the insurance industry. We are continuously working toimprove our processes, operations and market-making to optimizevalue for our customers.

TRANSPARENCYWe promote and manage all eAuctions and listings in a transparentand fair manner. Anyone authorized and interested in witnessingan auction can view it as a seller or participant, once equipped witha username and password. We also provide an auction reportdetailing all bids received during an auction.

RELIABILITYWith its attention to detail and thorough professionalism,SalvageSpace has acquired a reputation for reliability and hasgrown a solid customer base. Still, we know that each auction is anew opportunity to prove our commitment to value optimizationand we work hard to meet our customers’ expectations and keeptheir loyalty.

Industries we ServeWe work with and serve a diverse set of industries, including:

TURNKEY SOLUTIONS FORDIVERSE INDUSTRIES

Agriculture

Building Materials

Cement

Chemical

Computer & Server

Construction Equipment

Consumer Electronics

Farming Equipment

Fertilizer

Food & Beverages

Footwear & Accessories

Glass

Grid & Transmission

Home Furnishings

Hospitality

Industrial Machinery & Tools

Information Technology

Medical Equipment

Metal & Ore Processing

Office Equipment

Packaging

Paint & Petrochemical

Pharmaceuticals

Plastics

Ports (Materials at Ports)

Power

Publishing

Pulp & Paper

Retail

Stationery & Printing

Steel

Telecommunications

Textiles & Garments

Tobacco

Toys

Utensils

01

02

03

0205

eAUCTION MANDATE• Assess assets, as required• Receive mandate to dispose of assets via an eAuction

01

CATALOGUE & APPROVAL• Create catalogue of items• For salvage, gain Insured’s approval• Share T&Cs• Invite related parties to the eAuction

COMMISSION• Charge and collect commission• For private auctions, deduct commission directly from the EMD• For public auctions, charge the seller or Insurer directly

06PAYMENT & LIFTING• Oversee the complete payment cycle, including lifting & final settlement• For public auctions, collect EMD from winning bidder, before sharing results with seller

MARKET MAKING Begin market-making, using our comprehensivebuyer databaseArrange for inspectionsFor private auctions, collect the EMD

CONDUCT AUCTION• Conduct the auction at the pre-defined time

• For private auctions, this is usually 1 hour• For public auctions, the bidding period is usually

between 8 to 10 days.

eAuctionProcess

04 03

Classified ListingsFor classified listings, the interested buyer contacts the sellerdirectly via the online marketplace. The two parties negotiatedirectly and close the deal on agreed terms.

STEP

STEP

STEP

The seller submits a listing online to salvagespace, together with the fee. We upload the listing on the website, along with the seller’s terms and conditions.

Interested parties contact the seller directly online to progress the deal. salvagespace receives a copy of the initial communication from the prospective buyer to the seller.

The buyer and seller arrange the shipment and payment of goods, with no involvement from salvagespace.

“““

Customer Quotes

Our Customers I have known salvagespace for many years. The team

comprises true professionals. With their innovative methods of selling salvage, they have changed for good the way salvage is being dealt with in India. We have been utilising their salvor and eAuctioning services to our best satisfaction.

Executive Vice-PresidentIFFCO TOKIO General Insurance Co. Ltd

I have known salvagespace since they were established in 2007. I have been utilising their services to facilitate salvage sales PAN India. The team is very professional and they have helped us reduce our claim liability by maximising salvage realisations through their fair and transparent eAuctioning services.

Claims ManagerReliance General Insurance Company Limited

We benefit from salvagespace’ eAuction process. Their team was thorough in its processes, quick to respond and had new ideas to create optimum demand. The salvage value realized always either met or exceeded expected levels. It prompted us to rely fully on salvagespace for fast and best salvage solutions via eAuction.

MDMack Insurance Surveyors & Loss Assessors Pvt. Ltd.

We have successfully enabled the disposal of assets worth many millions of dollars for India’s public and private general insurance companies and for major corporations in a range of industries.

Our customers include the majority of India’s public and private general insurance companies and organizations such as Escorts, Bharti Infratel, Walmart, Eicher, Bajaj Hindusthan and Sterlite Technologies, among others.

These customers have used our eAuction service to optimally monetize salvage, scrap and idle assets - and to ensure a fair, transparent and efficient sale.

MAJOR ACHIEVEMENTS INCLUDE:• Realized savings of over US$250k, a 60% saving on the claim, for fire-affected

electrical items at a 5-star hotel, handling the entire process in 15 days

• Achieved an 87% recovery (compared to the original estimate of 15%) on 2,800 MT of water-damaged sugar

• Within 1 week, achieved a 14% increase in price and identified a 4,000 metre shortfall on a claim for 52,000 meters of water-damaged fabric