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Asset auction rules
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Auction rules


Asset auction rules ZhongHongXin international auction co., LTD


The first chapter the general


Article 1 ZhongHongXin international auction co., LTD., asset auction rules (hereinafter referred to as "the rules"), on the basis of "the auction law of the People's Republic of China" and other relevant laws and regulations of the People's Republic of China, regulations, rules and articles of association of the company, and with reference to common international practices.


Article 2 the company will be according with the laws and policies of the People's Republic of China, organize and conduct asset auction activities. To participate in the company asset auction client and bidder (and the buyer must be carefully read and abide by the rules, and to enforce the rules of behavior.


Article 3 the present rules according to the terms in the legal interpretation and implementation of the People's Republic of China. Principles involved in the dispute between the parties, talk things over solve, do not talk things over, as requested to the Chinese court or arbitration institution for arbitration in China.


Article 4 in this regulation, "the company" means a ZhongHongXin international auction co., LTD. "The company" of the Beijing dongcheng district dajie north street on the 8th fuhua mansion F 10 layer;

"Client" refers to entrust the company auction auction targets within the scope of this rules of natural persons, legal persons or other organizations. Unless otherwise agreed, the client including holding legal documents of the agent of the principal;

"Bidder" refers to according to our company in accordance with the law, "the auction notice" issued by the content of full specified amount pays the bidding deposit, the necessary bidding registration formalities, and participate in the auction activities held by the company, and according to the law of the People's Republic of China with full capacity for civil conduct of natural persons, legal persons or other organizations. There are restrictive provisions in the laws and regulations to the bidder should comply with the rules. Unless otherwise agreed, the bidding include per capita of legal documents of the bidder's agent;

"Buyer" means in the auction activity to be held in our company to the highest bidder bidding price for auction targets;

"An auction target" refers to the client entrust the company sold at auction (transfer) and the principal for its own absolute ownership or legal disposition of the articles or property rights.

"Hammer price" means the auctioneer dropping the hammer decided to the price of the auction target to the bidder (the buyer).

"Buy" refers to the hammer price auction fees and the buyer not to perform its obligations, and shall pay all the expenses.

"Reserve price" means the principal proposed and written after consultation with the company to determine the minimum price of an auction target.

"Reference price" means in the auction, the information published estimates of an auction target price. Reference price in the auction earlier time for a few days ago, not sure the price, so may adjust.

"Expenses" refers to the company for advertising, captions, the packing and shipping fee.

"Sale income" refers to the net to pay the payment of the principal, the net for dropping the hammer price minus the rate of commission, fees and the client shall pay the company's other payments.


The second chapter the entrusted rules


Article 5: trust auction procedures for theEntrust auction of our company:

individual citizens are required to provide valid proof of identity (such as id card, passport, etc.), the underlying ownership certificates and auction targets detailed data; Enterprise as a legal person entrusted our company auction: must hold a valid business license of enterprise, build official seal of the duplicate of the business license, certificate of legal representative, an auction target, detailed data, and the company requirements issued by the other proof document has the force of law.


Article 6 the company after the materials provided by his trustee has been verified, sign the contract on trust auction with the clients, the auction in accordance with the law. The client should assure the company of an auction target have absolute ownership or the legal right to dispose of. If an auction target actual ownership or the right to claim compensation claim ownership of any third party, the client shall be responsible for compensation for the company and/or all the losses suffered by the buyer so bear all expenses incurred.


Article 7 the trustor shall have the duty to provide to the company of an auction target to all relevant information, and shall be surrendered to the company express it knows or should know the drawbacks of auction targets.


Article 8 the company for the ownership of an auction target have doubt and client can not provide effective evidence; Any third person provide written proof, strong challenged the principal dispose of an auction target; Or for the authenticity of a legal document issued by the client could not be ascertained, the company has the right to withdraw any time before an auction any auction targets.


Article 9. Since the date of entrusted to the date of the buyer took over, as the host of an auction target. If the client entrust the company for hosting an auction target, is all of the costs incurred in custody period shall be borne by the client. Except otherwise agreed in the contract.


Article 10 the retentive price of an auction target (floor) be determined by the company in writing through consultation with the clients. The retentive price of an auction target to evaluate report or valuation report for reference. Reserve price is determined by both parties, the trustee and the auctioneer either party shall not be arbitrarily changed. Except otherwise agreed in the contract.


Article 11 the entrusted agent

1. The principal shall not bidding or trusting others to bid their targets. 2. An auction target actual ownership or right of legal sanction entrust others to handle trust auction procedures, the entrusted agent must entrust auction when the company provides legal of principal-agent and identity certificate of the entrusted agent, and the company requirements issued by other effective legal documents.


Article 12 the auction is completed, the client shall pay to the company auction commissions and other expenses. The cost of the specific charge proportion see the trust auction contract. Except otherwise agreed in the contract.


Article 13 the payment of the time and manner in accordance with the trust auction contract and the provisions of the other files.


Article 14 the company in a receipted within 10 working days after the buyer purchase all the money transfer sale proceeds to pay the principal. Client and the company shall be separately prescribed by the company in accordance with the agreed to perform. Unless otherwise agreed by both sides, the company to the client's turn to pay the auction proceeds monetary currency into renminbi.


Article 15 the client after receiving all the auction proceeds, according to the bidding agreement agreed with the buyer the subject matter of the delivery formalities; In accordance with the bidding agreement, the provisions of the respective pay deal before/after an auction target in accordance with the law, all related expenses; An auction target need to handle matters relating to the ownership transfer registration in accordance with the law, by the trustee and buyer apply for admission in accordance with the provisions of the bidding agreement, the principal to assist the buyer for property transfer procedures.


Article 16 kept by the company of the auction target, such as an auction target failed to sell within the contract period, the client should be within one month from the date of receipt of the notice the company to collect the auction targets, expenses. More than a month failed to retrieve the agent, the principal besides must pay the safekeeping fee shall be separately according to the contra


Article 17 the client available at any time to withdraw the auction before the auction targets, but withdrew an auction target, the company have the right to charge the client for the auction target all the expenses.


Article 18 the liability for breach of contract

The client is not in accordance with the rules and the trust auction contract agreement in terms of execution, the company has the right to according to the requirements of laws, regulations or the provisions of the contract shall bear the liability for compensation.


The third chapter the bidding rules


Article 19 the bidder must have a certain bidding qualifications:

Domestic bidder, the bidding enterprise as a legal person, must hold a valid business license, and build official seal of the duplicate of the business license, certificate of legal representative, a power of attorney and the valid id card himself;

Individual operators bidding, and provide effective business license is required and valid identity card;

Individual citizens bidding must hold a valid id.

Overseas bidders: the government must be held outside the company registration documents, bank reference, his valid identity certificate (such as returning resident permit, certificate, passport, etc.) as well as the company may reasonably require with other materials.

Bidding exclusive dealing items: in addition to the above conditions, still need to hold the item's license.


Article 20: the bidding procedures for the

Bidders shall be in accordance with the company the auction notice stipulated time, pay bid bond (see auction notice stipulated amount), hold the qualification certificate to the company designated places the bidding registration formalities. The registration form of the bidding.

On the day of the auction, bidders with valid proof of identity, deposit receipt, registration form of the bidding for the bidding plate, into the auction to attend a formal auction.


Article 21 the bidder in the auction, to attend an auction target, field sampling and information, and shall be responsible for their own bidding the behavior of an auction target.


Article 22 the bidding agent:

1. Bidding agent shall provide the power of attorney and personal valid identity certificate (id card or passport, etc.), registration and/or to enter the auction bidding to attend a formal auction.

2. The company and its staff for any auction targets in what way did the introduction and evaluation of are reference opinions, not constitute any guarantee for auction targets (including defects). Bidders personally view an auction target, and shall be responsible for the bidding behavior.


Article 23 the bidding bidding price and volume

1. The bidder in the auction activity by the highest bid to become the buyer.

2. Once the bidding price bidder in the auction site, shall not be withdrawn.

3. Bidders bid did not reach the reserve price auction items, auction cannot clinch a deal.

4. The auctioneer once the dropping the hammer that determine target by dropping the hammer price clinch a deal, is legally binding. The buyer must sign the purchase confirmation on the spot, can not go back on our word.

5. The bidding registrar's name should be consistent with the name of the "purchase confirmation" signatory. Bidder, the buyer or their authorized agent to sign on the relevant bidding documents should be my real intention, if therefore cause any law dispute, all the bidders or the buyer shall take all responsibility.

Article 24 the commission

Auction is completed, the buyer shall pay the company auction commission (specific will be subject to the bidding agreement, agreed amount), and other various accrued expenses.


Article 25 the settlement of the price of the auction hammer

The buyer shall sign the purchase confirmation within seven days from the date of (the) to pay full of the hammer price, except otherwise provided in the bidding agreement.

Article 26 the rules all the payment should be paid in RMB, other currencies such as the buyer to pay, should according to the state administration of foreign exchange market exchange rate on a working day before the auction.


Article 27 the liability for breach of contract

1. The buyer fail to press "bidding agreement in the appointed time to pay full price, shall bear all the losses caused by default of the company shall have the right to demand the stipulated in the bidding agreement, negative default liability to pay compensation.

2. The buyer all payments on schedule after the auction price, must be in accordance with the bidding agreement, within the appointed time already bought target extraction (transfer), otherwise it shall bear corresponding liability for breach of contract.

3. The buyer fail to extract (transfer) will already bought target, the storage of the auction target because of the overdue, storage, insurance, taxes and other fees shall be borne by the buyer. The company shall not be held any responsibility.

4. The buyer is not the payment or extract (transfer) of an auction target, the company has the right to auction targets for treatment.

Supplementary provisions


Article 25 to interpret these rules by ZhongHongXin international auction co., LTD.

Article 26 the rules matters not otherwise specified in the specific provisions every time the auction.


Article 27 the rules since January 1, 2009.