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Article 61 Notice in Written

Both the Bidder and Seller shall notify the Company of their valid and regular addresses and means of communication in the bid registration documents, consignment auction contract and other form agreed by the Company. In case of changes to the addresses and means of communication, the Bidder or Seller shall inform the Company in a timely manner. All notices herein and any notice relevant to auction business of the Company shall be in writing and shall be delivered by post, fax, email and instant messages. A notice sent by post shall be deemed to have been sent on the date the Company gives it to the post office, and shall be deeded as received by the addressee via normal mail service. A notice sent by other means of communication shall be deemed to be received by the addressee on the date when it is faxed.

Article 62 Severability

If any provision or part of the Conditions is confirmed to be invalid, illegal or unenforceable by a competent agency, the Conditions shall be ineffective to the extent of such illegality or unenforceability without invalidating or affecting the validity or enforceability of the remaining provisions of the Conditions.

Article 63 Settlement of Disputes

If any dispute arises from or is related to participation in the auction pursuant to the Conditions, all concerned parties shall submit such dispute to a competent Chinese court of the place where the Company has its domicile. Such dispute shall be governed by Chinese laws.

Article 64 Language

The Chinese version of the Conditions shall be the standard version. The English version is only for reference. In case of any discrepancy between the Chinese version and English version, the Chinese version shall prevail.

Article 65 Copyright of the Conditions

The Conditions are made and amended in accordance with Chinese laws and the Company shall have its copyright accordingly. Without the Company’s prior written consent, no party shall use the Conditions for commercial purpose in any way or manner and shall not copy, transmit, or store any part herein into a searchable system.

Article 66 Singular and Plural

In the provisions of the Conditions, the singular includes the plural and vice versa where the context requires.

Article 67 Right to alternation

The Company reserves the right to make any alternation to the Conditions at its sole discretion at any time the Company considers proper. The altered version is valid and becomes automatically effective on the date it is altered and is to be published in the way the Company considers proper. Any party involved must pay attention to any such alternations of the Conditions and the Company has the right not to inform parties thereof on a separate basis.

Article 68 Formatted Text

Unless otherwise agreed by the Company, the consignment auction contract mentioned in Article 6 of the Conditions and the cancellation notice mentioned in Article 25 should be made in the forms provided by the Company. Such forms provided by the Company consist of the whole part together with the Conditions.

Article 69 Date of Effectiveness

The Conditions of Business take effect on March.1st, 2016.

Article 70 Right to Interpret

The Company is responsible for interpreting the Conditions.

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2-603 Henderson Center, 18 Jianguomennei St., Beijing 100005, China | Phone 86-10-6518-2315
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