Page 184 - 玄礼四方——中国古代玉器

Company, its divisions, affi liates, subsidiaries or parent company, or China Guardian, 4. To institute a legal action against the Buyer, demanding that he or she
its divisions, affiliates, subsidiaries or parent company, the Company and/or the compensate it for all the losses incurred as a result of his or her breach of
Seller reserve the right of possession /lien or any other lawful relieves. contract, including the interest losses arising due to delay in payment or refusal
to pay by the Buyer;
Article 27 Transfer of Risks 5. To exercise a lien on the Auction Property in question and any other Auction
Once a successful bid has been made, the risks attaching to the Auction Property Property of the Buyer purchased under the auspices of the Company, and any
shall be solely borne by the Buyer once any of the following circumstances (whichever other property or property rights of the Buyer that may be in the Company’s
is earlier) arises: possession for any reason, and all expenses and/or risks arising during the
1. the Buyer collects the Auction Property; or duration of the lien shall be borne by the Buyer. If the Buyer fails to perform all
2. the Buyer pays all of the Purchase Price for the Auction Property to the of his or her relevant obligations by the deadline designated by the Company,
Company; or the Company shall have the right to dispose of the subject matter of the lien
3. the lapse of seven days after the Sale Date. after issuing notice to the Buyer that it is exercising its lien rights and if the
Buyer fails to discharge all outstanding amounts within 30 days after issuance
Article 28 Collection of the Auction Property of such notice. If the proceeds from the disposal of the subject matter of
The Buyer must, within seven days from the Sale Date, proceed to the Company’s the lien are insufficient to offset all the monies payable by the Buyer to the
address or other location designated by the Company to collect the Auction Company, the Company shall have the right to separately recover the same;
Property he or she purchased. The Buyer shall be solely responsible for purchasing 6. If the Buyer still has not paid all of the Purchase Price in full to the Company
insurance for the Auction Property he or she purchased once the risks pass to him within 90 days from the Sale Date, the Company shall have the right (but shall
or her. If the Buyer fails to collect the Auction Property within seven days from the not be obliged) to decide, at its absolute discretion, to cancel the transaction
Sale Date, he or she shall bear all of the relevant costs for storing, handling, insuring, or agree to cancellation of the transaction by the Seller, and reserves the right
etc. the Auction Property in question, and he or she shall bear all of the liability to recover all of the losses suff ered by the Company due to cancellation of the
for the Auction Property he or she purchased. Furthermore, notwithstanding the transaction;
Auction Property remaining in the custody of the Company or another agent, none 7. To offset any amount related to the Auction Property owed by the Buyer to
of the Company, its employees or agents shall be liable for damage to or loss of the the Company against any amount owed from any other transaction by the

Auction Property, regardless of the reason the same arises. Company, its divisions, affi liates, subsidiaries or parent, or China Guardian, its

divisions, affi liates, subsidiaries or parent to the Buyer;
Article 29 Packing and Shipping 8. To decide at its discretion to use any monies paid by the Buyer to discharge the

The packing and processing by the employees of the Company of the purchased amount owed by the Buyer to the Company, its divisions, affi liates, subsidiaries

Auction Property as required by the Buyer shall solely be deemed as a service or parent, or China Guardian, its divisions, affi liates, subsidiaries or parent in
provided by the Company to the Buyer, and the Company may decide at its own connection with the Auction Property or other transaction;
discretion whether to provide such service. If any losses arise therefrom, they 9. To refuse any future bids made by the Buyer or his or her agent, or to charge
shall solely be borne by the Buyer. Under no circumstance shall the Company be him or her a bid deposit before accepting his or her bids;
liable for damage to glass or frame, box, backing sheet, stand, mounting, inserts, The Company is aware that the Auction Property is unique and irreplaceable, if either
rolling rod or other similar auxiliary object arising for any reason. Furthermore, the the Seller or the Buyer defaults, the payment of damages by one party to another

Company shall not be liable for any errors, omissions, damage or loss caused by shall not be a suffi cient remedy to the observant party. Accordingly, the Company,
the packing company or removal company recommended by the Company to the the Buyer and the Seller agree that any such breach, the observant party may apply
Buyer. to the court to order specifi c performance, requiring the defaulting party to perform
his/her obligations under these Conditions or their ancillary documents.
Article 30 Import/Export and Permits
The Buyer shall himself or herself be responsible for securing any relevant import Article 32 Remedies for Delay in Collecting the Auction Property
and export, endangered species or other permit for the Auction Property. A failure If the Buyer fails to collect the purchased Auction Property within seven days from
or delay in obtaining any required permit shall not be deemed as grounds for the Sale Date, the Company shall have the right to take one or more of the following
cancelling the purchase or delaying payment of the Purchase Price by the Buyer. measures:
The Company shall not bear any liability for the failure to duly complete or submit the 1. To take out insurance coverage for the Auction Property and/or store the same
required import or export waybill, list or documents. on Company premises or elsewhere, with all of the costs (including but not
If the Buyer requests that the Company apply for an export permit on his or her limited to charging the Storage Fee specifi ed on the Bidder Registration Form
behalf, the Company shall have the right to charge him or her a separate service from the 31st day following the Sale Date) and/or risks arising therefrom borne
fee for such service. However, the Company does not warrant that such export by the Buyer. In such a case, the Buyer may collect the Auction Property
permit will be issued. Neither the Company nor the Seller gives any representations (packing and handling charges, freight and insurance charges, export related
or warranties as to whether or not any Auction Property is subject to import/export charges at the sole expense of the Buyer) only after he or she has paid all of the
restrictions or any embargo. Purchase Price in full;
2. If the Buyer fails to collect the relevant Auction Property by the deadline
prescribed herein, he or she shall solely be liable for all the risks and expenses
Article 31 Remedies for Non-Payment and Specific Performance

If the Buyer fails to make payment in full pursuant to these Conditions or any arising after the expiration of such deadline.
payment arrangement agreed with the Company, the Company shall have the right
to take one or more of the following measures: Article 33 Limited Warranties
1. If the Buyer fails to pay all of the Purchase Price in full to the Company within 1. The general warranties provided to the Buyer by the Company are as set forth
7 days from the Sale Date, the Company shall have the right to engage a third below:
party organization to collect all or part of the outstanding Purchase Price from If it is discovered after an Auction Property is sold by the Company that the
the Buyer; same is a forgery, the Company will, in accordance herewith, cancel the
2. If the Buyer fails to pay the Purchase Price in full within 7 days from the Sale transaction and refund to the Buyer in the original currency the Hammer price
Date, the Company shall have the right to charge interest at the rate 0.03% per together with the Buyer’s Commission paid by the Buyer to the Company in
day on the Buyer’s outstanding amount starting from the 8th day after the Sale respect of the Auction Property.
Date until the date on which the Buyer pays the entire amount in full, unless the For the purposes of the foregoing, a forgery, based on the reasonable opinion of
Buyer and the Company agree otherwise; the Company, means such things as a forged work or intentional concealment
3. All risks and charges relating to insurance coverage taken out on the Auction or a fraudulent claim in respect of the source, place of origin, date, production
Property, removal thereof, or storage thereof, at or from the Company or year, age, culture or origin, etc. of a work, and a correct description of the
elsewhere shall be borne by the Buyer; foregoing is not included in the catalogue (considering any terms of art). Any