Ikkendo Japan Non Reserve Asian Art Sale

Ikkendo Auction (Hirano Co., Ltd.) Auction Company Terms and Conditions bidder rules Ikkendo Auction (Hirano Co., Ltd.) (hereinafter referred to as "the company") holds auction activities in accordance with the relevant content of these rules. All bidders, buyers and other participants (hereinafter referred to as "bidders, etc.") participating in the auction activities organized by the company are deemed to have fully accepted and agreed to abide by these rules and the bidder registration form, written/Telephone bidding power of attorney, etc. Other provisions related to this rule. However, if the bidder and the company have reached a separate agreement, the other agreement will be applied first. Article 1 (General Provisions) Ikkkendo Auction is a public auction. Anyone can submit a bidding application to the company in advance and complete the registration procedures to participate in the auction held by the company. At the same time, the company has the right to reject the bidding application based on the specific circumstances and without the need to inform the reason, and has the right to modify the rules at any time if necessary. The company acts as the seller's agent to sell the auction items through auction. The seller and the buyer are the parties to the auction contract. The buyer shall not cancel the transaction of the auctioned lot for any reason. Participants entrust our company to hold auctions and intermediary services for sales contracts. Photography, video recording and audio recording are prohibited in the auction venue. Unless otherwise specified in these Rules, all auction fees will be paid in Japanese Yen. Article 2 (Definitions) The following terms in these rules shall be interpreted as follows: "Bidding" refers to the act of raising a purchase price for an auction item at an auction by bidders, etc.; "Offer" refers to the behavior of the seller entrusting the company to sell the auction item; "Auction Date" means the date on which the Company announces the auction transaction; "Completion Date" means the date on which the auctioneer drops the hammer or announces the completion of the auction by other customary means; "Auctioneer" means the person who conducts the auction and decides to drop the hammer on behalf of the Company; "Hammer Price" means the highest bidding price at which the auctioneer drops the hammer or announces the auction by other customary means; "Seller" means any seller who entrusts the Company to sell the Lot; "Buyer" means the buyer of the Lot, the bidder accepted by the auctioneer to place the highest bid; "Buyer's Commission" means the commission received by the Company from the Buyer. The commission is sixteen and a half percent (16.5%) of the hammer price; "Bidding number plate" refers to the number plate delivered by the company to the bidders who have completed the registration procedures and participated in the auction. "Auction item" refers to the item that the seller entrusts the company to auction, such as art, jewelry, etc. "Reference price" refers to the reference hammer price of the auction item marked on the catalog by the company as a forecast of the hammer price. Article 3 (Auction Items and Catalogue) The auction items are sold in the existing state at the time of auction, and the existing physical objects shall prevail. The company is not responsible for the dirt, scratches and other defects of the auction items. The company produces and publishes catalogs with auction items and distributes them to bidders who intend to participate in the auction. This catalog is made for the convenience of bidders and other participants in the bidding. The descriptions (author, year, size, weight, material, technique, authenticity, origin, status, etc.) on the catalog are for this purpose only. The company's unilateral evaluation and reference opinions. Therefore, the company does not assume any responsibility for the inaccuracy of the content published in the catalog and the inconsistency with the actual product. Similarly, if there is any discrepancy in tone, color or level between the photographs published in the catalog and the actual object, the existing object shall prevail, and the company shall not bear any responsibility. The company reserves the right to modify the contents of this catalog at the auction site without prior notice. At that time, auction activities will be carried out according to the revised content posted on the spot or orally announced. As mentioned in paragraph 2 of this article, bidders should be familiar with this catalog and know that this catalog does not fully contain all the information of the auction items before participating in this auction. Therefore, bidders should try their best to participate in the preview exhibition held by our company, personally look at the auction items they want to bid for, and make bids based on their own judgment and responsibility. After the transaction is completed, the termination of the sales contract cannot be requested on the grounds that there is a difference between the information contained in the catalog and the auctioned item. The company records the reference price of the auction item in the catalog, and the reference price is the highest price and the lowest price of the auction item in the form of Japanese yen (this price does not include the buyer's commission of the company and the consumption tax of the buyer's commission). This reference price is an appropriate price set by our company based on factors such as the market price of the auction item and is only for the reference of bidders. The hammer price is not bound by the reference price and can be higher or lower than the reference price. Also, if the reference prices on the catalog are expressed in Japanese Yen and other currencies, the price expressed in Japanese Yen shall take precedence. Article 4 (Defect Guarantee Liability) The company does not assume any guarantee responsibility for the defects of the auction items to the buyer. Article 5 (Preview) The company will hold a preview before the auction, and bidders who intend to participate in the auction can review the auction items. The specific time and content will be notified in the promotional materials and advertisements issued regularly by the company. Bidders who intend to participate in the auction must personally confirm the auction items that meet their requirements (including whether there are defects, defects, etc.), and participate in the auction based on their own judgment and responsibility. Bidders who intend to participate in the auction can investigate the auction items when necessary, but they are not allowed to touch the auction items without the company's permission. The company has the right to require bidders who want to participate in the preview exhibition to submit their identity certificates, and according to the specific circumstances, the company has the right to refuse bidders to participate in the preview exhibition without giving any reason. Photographing, filming and recording are prohibited during the preview. Article 6 (Registration) Bidders who intend to participate in the auction must provide their own identity certificates (certificates that can confirm their current address and photo) in accordance with the requirements of the company on the day of the preview, and fill in the necessary information on the registration form to complete the registration procedures . Bidders who intend to participate in the auction need to pay a deposit in advance at the front desk of the auction venue. Pledging of deposits, assignment of creditor's rights, etc. are prohibited. After the bidder pays the security deposit to the company, he will receive the security deposit invoice and the bidding number plate. When the security deposit is returned, I need to collect the bidding number plate and the security deposit invoice, and the security deposit will not generate any interest. If the person applying for the return of the security deposit is inconsistent with the person recorded in the security deposit invoice, or the security deposit invoice is lost, so that the company cannot determine its identity, the security deposit will not be refunded until its identity is confirmed. The price paid by the bidder for the auction item shall be paid from the security deposit in priority. If the bid is unsuccessful, the company will return the bid deposit (excluding interest) to the bidder. At that time, bidders will need to provide a deposit invoice and the bidding trademark. If they cannot provide any of them, the company will consider it impossible to determine their identity, and the deposit will not be refunded until their identity is confirmed. The price paid by the bidder for the auction item shall be paid from the security deposit in priority. If the bid is unsuccessful, the company will return the bid deposit (excluding interest) to the bidder. At that time, bidders will need to provide a deposit invoice and the bidding trademark. If they cannot provide any of them, the company will consider it impossible to determine their identity, and the deposit will not be refunded until their identity is confirmed. If the company believes that the behavior of the bidders is not conducive to the smooth progress of the auction, it has the right to refuse to complete the registration procedures for the applicant, and has the right to cancel the registration if it has been completed. After completing the registration procedures, an intermediary contract will be established between the bidder and the company. Article 7 (Bidding for Number Plates) The company will deliver the bidding number plate to the registered bidders according to Article 6 after collecting the deposit at the auction venue on the day of the auction. Bidders are not allowed to lend the bidding number plate to others. If the bidding number plate is lent to others without authorization, and others use the bidding number plate to purchase the auction item, the bidder has the obligation to pay in full for the auction item. Article 8 (Auction Method) Only bidders are allowed to bid in the auction. On the day of the auction, bidders bid by holding up the bidding number plate delivered by the company. Moreover, bidders' bids do not include the company's buyer's commission and the consumption tax involved in the buyer's commission. The bidder shall pay the buyer's commission and the consumption tax of the buyer's commission involved in the auction item to the company in accordance with the provisions of Article 12 of these rules after the conclusion of the sales contract. The company grants the auctioneer the right to operate the auction at his discretion in the auction venue. The starting price is determined by the auctioneer, and the auctioneer has the right to decide to increase or decrease the bidding range, determine the buyer, and refuse to bid, etc. All relevant personnel including bidding participants must obey the auctioneer's command. In addition, if the number, portrait, and price displayed on the projection screen in the auction venue are inconsistent with the update of the bidder's information, the auctioneer's ruling must be followed. In addition, the foreign currency prices indicated at the auction are for reference only and do not represent our company's commitment to the prices. When the bidder thinks that the auctioneer failed to discover the act of bidding with placards, the bidder shall take timely and effective remedial actions that can attract the attention of the auctioneer. If the auctioneer fails to find out that his bidding behavior leads to the failure of the bidding, the company shall not bear any responsibility. Bidders can go directly to the auction site to bid, or entrust in writing or by telephone. Articles 9 and 10 of these rules shall be referred to for entrusted bidding in writing or by telephone. The buyer refers to the bidder who is finally identified by the auctioneer as the highest bidder. The auctioneer confirms the buyer by dropping the hammer or other customary ways. At this time, it means that the sales contract between the principal who entrusts our company as the agent and the buyer is established. After the sales contract is established, the buyer should immediately confirm on the spot and sign or affix a seal on the transaction confirmation document provided by our company that records the lot number and transaction price. The company grants the auctioneer the following authority: (1) reject any bid; (2) the manner in which the auction will be conducted, including withdrawing lots, splitting or combining lots, raising or lowering the bidding ladder, and other auction methods; (3) determine the successful bidders; (4) Take other measures that the auctioneer deems appropriate. The auctioneer sets a reserve price on all lots. If no bidder bids or the bidding price is lower than the reserve price, the auction item will not be sold. In any case, the company will not bear any responsibility for the absence of bidders in the auction or the bidding price not reaching the reserve price. The company has the right to set a reference price for the auction item before the auction and revise the reference price at any time. Any reference price is for reference only and is not legally binding. If the company deems it necessary, it can take pictures and record the bidders and the bidding situation. Article 9 (Written Entrusted Bidding) In principle, bidders should attend the auction in person at the venue. If you are unable to attend, you can entrust the company to bid on your behalf in writing. Bidders who apply for entrustment in writing should apply to the company 2 weeks before the auction and follow the instructions of the company. Bidders who apply for written entrustment shall remit the deposit to the account designated by the company within the specified time limit. If the company fails to receive the bidder's deposit within the specified time limit, the bidder's written entrustment application shall be deemed invalid . In principle, bidders should attend the auction in person at the venue. If you are unable to attend, you can entrust the company to bid on your behalf in writing. Bidders who apply for entrustment in writing should apply to the company 2 weeks before the auction and follow the instructions of the company. Bidders who apply for written entrustment shall remit the deposit to the account designated by the company within the specified time limit. If the company fails to receive the bidder's deposit within the specified time limit, the bidder's written entrustment application shall be deemed invalid . Bidders who apply for entrustment in writing must fill in the required information on the "Written and Telephone Bidding Entrustment Letter", and mail or fax it to our company within the specified time limit. The method of determining the buyer of the written entrusted auction is consistent with the determination method in the live auction venue, that is, after the bidder with the highest bid in the venue is confirmed by the auctioneer dropping the hammer, the sales contract is established. If two or more bidders entrust our company to bid for the same auction item with the same highest bidding price, the bidder who is the auction item should first mail or fax the written entrustment application to our company. If they arrive at our company at the same time, the bidders will be determined by lottery. The company reserves the right to reject written entrustment applications from bidders, etc. without notifying the reason. The company shall not be responsible for whether the written decision of rejection is delivered to the bidder or not. Regardless of the reason, if the company fails to bid successfully according to the price stated in the "Written? Telephone Bidding Entrustment Letter", the company will not bear any responsibility. After the relevant content recorded in the catalog stipulated in Article 3, Paragraph 3 of these rules is modified, it is deemed that the bidder who submitted the written entrustment application has also understood and agreed to the modified content. For the modification of the catalog mentioned in the preceding paragraph, the company will try its best to complete the notification obligation. However, if the bidder who submitted the written entrustment application cannot be notified before the auction, the company will not bear any responsibility. The company will notify the bidder of the result as soon as possible after the successful bid for the bidder. The company will fill in the transaction confirmation letter on behalf of the bidder and sign or seal it. However, the sales contract is established when the auctioneer drops the hammer, and whether the transaction confirmation is signed or not does not affect its validity, and the transaction confirmation is only kept as a record. Article 10 (Telephone Commissioned Bidding) In principle, bidders should attend the auction in person at the venue. If you are unable to attend, you can entrust our company to bid on your behalf by telephone entrustment. Bidders who wish to bid by telephone entrustment shall submit an application to the Company 2 weeks before the auction and shall follow the instructions of the Company. Bidders who entrust the application by telephone shall remit the deposit to the account designated by the company within the specified time limit and complete the registration procedures. Delegation request is invalid. Bidders who entrust the application by telephone must fill in the required information on the "Written? Telephone Bidding Entrustment Letter", and mail or fax it to our company within the specified time limit. Moreover, the company shall not be responsible for any failure to contact the entrusted bidder through the contact information recorded in the above power of attorney regardless of the reason. The method of determining the buyer of the telephone auction is the same as that of the on-site auction venue, that is, after the bidder with the highest bid in the venue is confirmed by the auctioneer dropping the hammer, the sales contract is established. The company has the right to reject the bidder's telephone entrustment application without notifying the reason. The company shall not be responsible for whether the written decision of rejection is delivered to the bidder or not. If the company fails to bid successfully due to the following reasons, the company will not bear any responsibility except for the company's intentional or gross negligence. (1) Communication failure caused by mechanical problems such as lines; (2) Due to being unable to contact the bidder during the auction of the auction item; (3) Before the auctioneer lowered the hammer, the bidder did not convey the bidding information to the staff of the company accurately by phone in time, or other reasons that the company believes that the bidder has no intention of continuing to increase the price. After the relevant content recorded in the catalog stipulated in Article 3, Paragraph 3 of these rules is modified, it is deemed that the bidder who submitted the telephone entrustment application has understood and agreed to the modified content. For the modification of the catalog mentioned in the above article, the company will try its best to complete the notification obligation. However, if the bidders who applied for entrustment by telephone cannot be notified before the auction, the company will not bear any responsibility. The company will notify the bidder of the result as soon as possible after the successful bid for the bidder. The company will fill in the transaction confirmation letter on behalf of the bidder and sign or seal it. However, the sales contract is established when the auctioneer drops the hammer, and whether the transaction confirmation is signed or not does not affect its validity, and the transaction confirmation is only kept as a record. In order to ensure the accuracy of telephone entrustment, the company may record the content of the telephone entrustment process according to specific circumstances. Article 11 (Confirmation of Transaction) After the sales contract is established, the buyer should immediately confirm on the spot and sign or affix a seal on the transaction confirmation document provided by the company that records the auction item number and transaction price, or the company fills in and signs or affixes a seal on its behalf. The signature or seal on the transaction confirmation must be consistent with that on the registration application. Moreover, the sales contract is established when the auctioneer puts the hammer down. Insufficient information filled in the transaction confirmation letter and whether it is signed or not will not affect the validity of the sales contract. The transaction confirmation letter is only for filing purposes. Article 12 (Payment) The price paid by the buyer to the company shall include the hammer price, the total amount of the buyer's commission of the company (item 9 of Article 2 of these rules) and the consumption tax of the buyer's commission (hereinafter referred to as "purchase amount"). If the buyer is not a Japanese citizen, it will be presumed not to be a resident with a domicile or residence in Japan, and the consumption tax required for the buyer's commission will be exempted. However, those who work in an office in Japan or who have been in Japan for more than 6 months are considered residents. In addition, there are cases where Japanese nationals are exempted from tax because they are non-residents. Please consult our company for details. The buyer should pay the purchase amount to the company in cash or bank card on the day of the auction. However, with the consent of the company, the purchase amount can be paid by remittance after the auction. If the payment is made by remittance, the remittance should be made within 7 days from the end of the auction (excluding weekends or legal holidays, hereinafter referred to as "payment date", and the payment time must be completed within the company's business hours). The handling fee involved in remittance shall be borne by the buyer. If payment is not made beyond the payment deadline specified in the first two items, the buyer shall also bear the delayed interest at an annual rate of 14.6% on the basis of the payable amount. Unless the company agrees, the buyer shall not revoke the transaction of the auctioned item for any reason. Regarding the issue of non-payment of the purchase amount, if the negotiation fails, the company can take legal means to resolve it. At that time, the buyer shall bear all related expenses (such as printing paper fee, lawyer's fee, etc.), and the company has the right to revoke the buyer's membership and prohibit him from participating in future auctions held by the company. Article 13 (Obligations of Delivery and Collection of Auction Items) After the buyer pays the purchase amount in full, the company will deliver the auction item immediately. However, if the buyer has other due debts to the company (including the storage fee stipulated in Item 3 of Article 16) in addition to the purchase price, the company can deliver the auction item after the buyer fulfills other due debts. Hereinafter, the Purchase Amount and other due debts are collectively referred to as "Purchase Amount, etc." After the buyer has fully paid the purchase amount, etc., he must pick up the auction item within the payment deadline. If the auction item is not collected after the time limit, a storage fee of 1,000 yen per day per auction item will be charged. The place of delivery of the auction items is within the company or other places designated by the company, and the cost of delivery shall be borne by the buyer. After the conclusion of the sales contract, the company shall not be responsible for the risks of the auction items ( Lost, lost, stolen, damaged, defaced, etc.) bear any responsibility. In principle, our company does not accept requests for late delivery. According to the buyer's request, the company can introduce the shipping company for the buyer out of good intentions, and the buyer should purchase insurance by himself. The company will not bear any responsibility for the buyer's loss caused by the shipping company. Moreover, the buyer should fully consider the packaging method of the goods and bear the consequences by himself. The company can provide the buyer with packaging and handling services, so any risks incurred are borne by the buyer, and the company does not assume any responsibility. If the destination is outside Japan, it may take more than 3 months to reach the destination depending on the destination. If the goods continue to be stored after the payment period has expired, the storage fee shall be borne by the buyer. When picking up the auction items, the buyer can accept the auction items. Regardless of whether the buyer has actually accepted the auction item or not, after the buyer delivers the auction item, the buyer shall not claim to terminate the sales contract with the company, or make other requests, on the grounds that the auction item is inconsistent or that the auction item has been damaged or defaced before receiving it. . However, the above provisions do not apply to the situation where the buyer is required to return the auction item due to the wrong delivery of the auction item by the company. Article 14 (Transfer of Risk) After the sales contract is established (when the auctioneer hammers down the highest bidding price), if the auction item is lost, lost, stolen, damaged, defaced, etc., the buyer shall bear the risk, and the company shall not bear any responsibility. Article 15 (Transfer of Ownership) After the buyer pays the purchase amount in full, etc., the ownership of the auction item will not be transferred until the company delivers the item to the buyer. After the buyer pays the purchase price in full, and the company delivers the auction item to the buyer, the buyer can obtain the ownership of the auction item. Article 16 (Storage of Auction Items) For the auction items after the payment period expires, the company may, based on its judgment, take appropriate measures to keep them. If the auction item is lost, lost, stolen, damaged, defaced, etc. before the buyer picks it up, the company will not be responsible unless the company has intentional or gross negligence, and the buyer continues to be obliged to pay the purchase amount, etc. . During this period, the company has no obligation to insure the auction items. During the payment period, the buyer does not need to bear the storage costs of the auction items. If the buyer is unable to pick up the auction item within the payment deadline, the buyer must pay the storage fee (1,000 yen per day per auction item) from the time the payment deadline expires until the auction item is picked up. Article 17 (Stolen Items, Lost Items) Before the company delivers the auction item to the buyer, if the auction item is claimed to be stolen or lost and the real owner requests return, or it is found to be an item prohibited by law from sale (including items prohibited from being carried), the company does not need to The sales contract can be terminated by a reminder. In the event of the above situation, if the buyer has already paid the price, the company will refund the price without interest, and the buyer shall not claim damages or any other claims against the company. When the Commissioner of Police orders us to store the auction items based on the provisions of Article 21 of the Antiquities Business Act, we will not deliver the auction items until the end of the specified storage period. In the event of the above, the company will deliver the auctioned item within 30 days after the end of the storage period ordered by the Commissioner of Police, and the buyer is obliged to accept the auctioned item. The buyer is not required to pay for the storage within 30 days after the end of the storage period ordered by the Commissioner of Police. If the buyer refuses to pay the price within 30 days after the end of the storage period ordered by the Chief of Police, the buyer shall be liable for default. The company shall not be liable for any delay in delivery or other consequences caused by the buyer's failure to perform its obligations. From 30 days after the end of the storage period ordered by the Chief of Police, a storage fee of 1,000 yen per auction item will be charged for the day beyond. Article 18 (Termination) When any of the following occurs to the buyer, the company has the right to unilaterally terminate the sales contract or intermediary contract established at the auction without a reminder: (1) When filing or being filed for bankruptcy, reorganization or reorganization; (2) When enforced; (3) When other situations that the company considers to be of low credit occur; (4) 60 days have elapsed since the date of the conclusion of the sales contract, and the buyer has not paid the full purchase amount, etc. or has not received the auction item; When the buyer has the situation specified in the preceding paragraph, the company has the right to require the buyer to pay the liquidated damages of the intermediary contract equal to 30% of the total hammer price of the auction. In addition, when the amount of damage suffered by the company exceeds the above-mentioned amount, the company has the right to require the buyer to compensate the excess loss. If the buyer fails to pay the purchase price in full within the prescribed time limit, the amount of damages suffered by the company shall be calculated according to the following provisions: (1) The buyer shall be responsible for the delay in payment of damages at the rate of 14.6% per year for the unpaid part (excluding consumption tax) from the second day after the due date of payment to the date of actual payment (including management fees, etc.) obligation. (2) If the buyer still fails to pay the purchase amount after being urged, the company has the right to terminate the sales contract. The company's cancellation notice or reminder will be deemed to have arrived when it is sent according to the address registered by the buyer or notified to the company. (3) Regardless of the provisions of the preceding paragraph, if the sales contract is terminated due to the buyer's failure to perform its obligations, the buyer shall pay 30% of the total amount of the hammer as compensation. After the company terminates the sales contract according to these rules, the auction item can be auctioned again. Article 19 (Modification of Rules) The company has the right to change the rules and publish the changed rules through catalogs or other methods. Changes to the rules are effective when they are posted. Article 20 (Disclaimer Clause) The company and its employees do not assume any responsibility when the following situations occur. However, it is excluded due to the gross negligence or willfulness of the company and its employees. (1) Bidders and others suffer losses due to the fault of the company and its employees; (2) Regardless of the reason, the company fails to conduct the auction as scheduled; The buyer's request for compensation from the company shall not exceed the proceeds or appraisal price of the auction item. The company shall not be liable for damages caused by force majeure such as natural disasters, wars, nuclear fuel materials, and strikes. Article 21 (No guarantee of authenticity) The company specifically declares that it does not guarantee the authenticity and quality of the auction items, and does not undertake guarantee responsibility for the defects of the auction items. Bidders should personally examine the original auction items and assume legal responsibility for their own bidding for the auction items. Once the bidder wins the bid, the sales contract cannot be canceled. Article 22 (Confidentiality Clause) The company will collect data from sellers, buyers, bidders, entrants or other third parties in the process of operating the auction and processing related businesses, or obtain the data of the above-mentioned persons in other ways (such as recording during the auction, video or film). The company is obliged to keep confidential all the information it knows due to the auction-related business, and shall not disclose it to any other third party without the consent of the party providing the information, except in the following cases: Necessary to conduct auctions or auction-related business; Disclosure of data pursuant to an order from an authority with jurisdiction or a court; The company discloses data to tax accountants, accountants and other professional consultants for its own decision-making, management, credit, financial or business analysis, or consolidated financial statements. Article 23 (Copyright) The company owns the copyright to these rules, the registration form of bidders, the written or telephone bidding power of attorney, and the documents involved in these rules, as well as the related promotional materials and the content of all the aforementioned works. Without the permission of the company, no one may copy, store, transmit or use the aforementioned works in any other way to obtain commercial benefits. Article 24 (Limitation of Eligibility) The company does not conduct all transactions with the following persons. When it is found that the bidder is the following person, the company has the right to stop all transactions with it. (1) For the purpose of money laundering, etc., anti-social forces, etc. use illegal, inappropriate means, violence, fraud, etc. to obtain funds, influence or other related persons (hereinafter referred to as "anti-social forces, etc."). (2) Bidders accompanied by anti-social forces, etc., or those who intend to introduce anti-social forces, etc., to participate in the bidding. (3) Corporations with anti-social forces, etc. in the senior management. (4) Those who use threatening speech or violence when conducting transactions with the company. (5) A person who slanders the company by using gossip, etc., or a person who hinders the business of the company. The company has the right to suspend the transaction if it finds out that the bidders have situations other than those mentioned in the preceding paragraph and similar to these situations, and has the right to refuse all transactions with them thereafter. Article 25 (Governing Law, Jurisdiction, and Arbitration Agreement) These rules are governed by the laws of Japan and interpreted in accordance with the laws of Japan. Matters not stipulated shall be settled in accordance with the laws of Japan. Disputes on auction matters should first be resolved through negotiation. If the dispute cannot be resolved by itself, either party may submit the relevant dispute to the Japan Commercial Arbitration Association, a general corporate legal person, for arbitration in Japan in accordance with its currently effective commercial arbitration rules. The arbitration award is final and binding on all parties. An arbitration award may be enforced by a court or judicial authority in the place where the party losing the award or its assets are located. The expenses related to the arbitration and the execution of the award, including the fees of the arbitration commission or the court, attorney fees, expert fees, witness fees, travel expenses, etc., shall be borne by the buyer. The service place of the application for arbitration and other documents is the current address registered by the bidders etc. when participating in the auction. Article 26 (Notification) Relevant notices of these rules will be mailed to the current address of the bidders etc. at the time of registration or delivered by fax or e-mail. Notices delivered by the Company in the following ways shall be deemed delivered at the following times: (1) If sent by post, the 7th day after the date of posting; (2) If sent by facsimile, when the facsimile report confirms dispatch; (3) If sent by e-mail, when the e-mail is sent; (4) If delivered by hand, when delivered to the address of the party concerned. Article 27 (General Matters) Bidders, etc. shall not transfer, authorize others to enjoy or assume any rights, obligations or responsibilities that they have or assume to the company based on these rules. In the event of any disagreement regarding matters not covered by these rules or the interpretation of these rules, the parties shall negotiate to resolve them. The company has the right to change the rules and publish the changed rules through catalogs or other methods. Changes to the rules are effective when they are posted. Instructions for Bidding Matters, Bidder Registration Form, Written or Telephone Bidding Power of Attorney and other data related to these Rules are part of these Rules and have the same effect as these Rules. There are Japanese and Chinese versions of these rules. The Japanese version shall prevail, and the Chinese version is only the translation. The right to interpret these rules belongs to the company.