investigate the actual status regarding the Lot and take liability for his/its bidding.

The Bidder shall register and receive bidding number before the Auction Date with a valid identity card, or passport or other certificates approved by the People's Republic of China in the case of a natural person, or a valid certificate of registration, ID of legal representative or other legal authorization certificates in the case of a legal entity or an organization, otherwise it will not be deemed as a legal Bidder.

Any person who bids shall be deemed as principal, unless the Bidder presents to us a written certificate showing that the person who bids is the agent of a principal, and this shall be subject to our approval in written form before the Auction Date.

The Bidder shall attend the auction personally: otherwise he / it may give us the commission in writing to bid on nisi its behalf. We shall have the right to, but have no obligation, to accept such a commission.

Since we charge no fee for bidding on behalf of the Bidder in the case that the Bidder can not attend the auction personally, we and our employees shall not be liable for any failure in bidding or any negligence or fault in the course of bidding. Bidders shall attend the auction in person to assure the success of bidding.

The auctioneer is entitled to raise or lower the bidding ladder, refuse any bidding, or restart auction in case any dispute arises on our behalf.

When the highest bidding is confirmed by striking the auctioneer's hammer or in other public manners, the Bidder with the highest bidding succeeds in the bid ding and the sale contract of the Lot between the Buyer and the Seller is concluded.

The Bidder will be deemed as the Buyer of the Lot after succeeding in bidding and shall pay us a remuneration equal to 12% of Hammer Price and other Expenses and acknowledge that we are entitled to charge commission and other costs payable by the Seller in accordance with Article 21 hereof.

The Buyer shall make full payments in a lump sum and collect the Lot (package and transportation at the Buyer's expense) within seven days after the Sale Date; otherwise, the Buyer shall be liable for breach of contract.