Page 177 - 古董珍玩专场一
P. 177
CONDITIONS OF BUSINESS
Chapter I General Provisions We generally represent the Seller during the auction. When the auctioneer
confirms the highest bid by striking his hammer or in any other public man-
Article 1 Governing Law ner, the Bidder with the highest bid shall be the Buyer of the Lot and the sale
This Conditions of Business (hereinafter referred to as the “Conditions”) are contract concerning the Lot between the Seller and the Buyer shall come into
made in accordance with the Auction Law of the People’s Republic of China, effect immediately. Any legal effect accrued thereupon shall be born by the
other relevant laws implemented in the People Republic of China, regulations Seller and the Buyer respectively.
of the People’s Republic of China and the Articles of Association of this Com- These conditions are the terms by which we contract, as the Auctioneer, with
pany with reference to international general practices. the Seller and with the Buyer as well as the terms by which the Seller and the
Buyer conclude a contract concerning the Lot. Therefore, any Seller, Bidder,
Article 2 Definitions and Interpretation Buyer and other concerned parties participating in the auction should read
The terms used in these conditions shall have the following meanings: the Conditions carefully and conform to the provisions hereof. All parties shall
ᶃ “We/Us/Our/Company” means Beijing Baoruiying International Auction Co., be liable for their own actions at auction and any loss caused by failure to
Ltd. read the Conditions carefully.
ᶄ “the Company’s domicile” means CBD International Mansion, Room 2005-
2008, No. 16 Yonganli East Street, Chaoyang District, Beijing, China. Article 5 Exclusion of Liability
ᶅ “the Bidder” means a natural person, legal person or any other organiza- We shall undertake no guarantee for the authenticity and/or quality of any
tion that has full capacity of civil rights to bid at auction according to provi- Lot.
sions of the laws of People’s Republic of China and who has gone through The Bidder and/or its agent shall bear the responsibility of carrying out its
the necessary registration and procedural formalities of this company. The own inspection and investigations as to the nature of the Lot and shall be li-
Bidder shall satisfy all provisions with respect to conditions of sale or qualifi- able for its bid.
cation of the Bidder. Under these Conditions, the Bidder shall include any of
its agents unless otherwise provided thereunder or in a particular context. Chapter II Conditions Concerning the Seller
ᶆ “the Buyer” means the person with the highest bid accepted by the auc-
tioneer. Article 6 Consignment Procedures
ᶇ “the Seller” means a natural person, legal person or any other organization When arranging for consignment, the Seller shall hold a valid identity card or
who consigns the Lot to us for auction in accordance with these Conditions. passport or other certificates approved by the competent government of the
Under these Conditions, the Seller shall include any of its agents unless People’s Republic of China in the case of the seller being a natural person,
otherwise provided thereunder or in a particular context. However, under no who must also sign a contract with us. A valid certificate of registration, ID of
circumstances shall China Guardian Auctions Co., Ltd be considered as the legal representative or other legal authorization document is required in the
Seller. case of the seller being a legal entity or other organization, which must also
ᶈ “Lot” means any item(s) deposited with us for sale at auction and, in sign a consignment contract with us.
particular, the item or items assigned a lot number and described in a cata- When the Seller arranges for consignment, we shall be automatically autho-
logue. rized to make pictures, illustrations, catalogue, or other video images of the
ᶉ “Auction Date” means the published date on which the auction will formal- Lot.
ly begin. In the case of any discrepancy between the actual date of auction
and the published date, the actual date of auction shall prevail. Article 7 The Seller’s Agent
ᶊ “Sale Date” means the date on which the auctioneer confirms the sale of When arranging for consignment, the Seller’s Agent shall submit to us a rel-
any lot in the auction by striking his hammer or in any other public manner. evant authorization letter and hold a valid identity card or passport or other
ᶋ “Hammer Price” means the amount of the highest bid accepted by the certificates approved by the competent government of the People’s Republic
auctioneer in relation to a Lot. of China in the case of a natural person. A valid certificate of registration, ID
ᶌ “Proceeds of Sale” means the net amount owed to the Seller from the of legal representative or other legal authorization documents is required in
Hammer Prices less commission pro rata and all expenses and other the case of a legal person or other organization.
amounts owed to us by the Seller. We are reserve the right to examine and amend the above arrangement in
ᶍ “Purchase Price” means the total amount payable by Buyer for its bid, any manner we consider reasonable.
including Hammer Price, commission and other expenses payable by the
Buyer as well as the charges caused by the Buyer’s defaults. Article 8 The Seller’s Warranties
ᶎ “Expenses” means charges and expenses including but not limited to The Seller hereby makes irrevocable warranties to us and the Buyer with re-
expenses with respect to Lot insurance, catalogue and other advertisement, spect to the consigned Lot as follows:
packaging, transportation and storage, and any other expenses pursuant to ᶃ the Seller has exclusive and absolute ownership and legal right to dispose
relevant laws, regulations and provisions hereof. of the Lot. Without prejudice to any legal interest (including copyright) of
ᶏ “Reserve” means the price below which we agree with the Seller in writing any third party, the auction of the Lot shall not violate any relevant law and
that the Lot cannot be sold. regulation;
ᶐ “Reference Price” means the price of the Lot provided in the catalogue or ᶄ the Seller has, to the best of its knowledge, made full and complete dis-
other descriptive materials and estimated prior to the Auction. The Reference closure and description to us with respect to the origin and any flaw or defect
Price is subject to possible changes and cannot be deemed as the fixed sale of the Lot without any concealment and fabrication; and
price. ᶅ the Seller shall indemnify and hold us and/or the Buyer from and against
any claims, losses and damages or actions incurred or brought by the actual
Article 3 Enurement owner or any third party who claims to be the actual owner of the Lot as well
We organize auctions pursuant to Chinese laws, regulations and policies. as all expenses and costs incurred in connection therewith, arising out of, or
These Conditions shall enure to the benefit of and be binding upon the Seller, in any way attributable to any breach of the above warranties.
Bidder, Buyer and any other concerned parties participating in our auction in
relation to the artworks, crafts and other cultural relics presented by the auc- Article 9 Reserve
tion activities of this company. All Lots are offered subject to a Reserve, unless otherwise agreed by the
Seller and us. The Reserve shall be determined by the Seller and us in writ-
Article 4 Special Notice ing and no modification or amendment of the Reserve shall be binding upon