AUCTION

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Sogo Tender TERMS FO BIDDING AND SALE
	Bidder participating Sogo Tender acknowledges he has received, read, and understands these terms. Such right is granted at the Sogo Corporation’s sole discretion and may be revoked at any time.

1. Qualification for participating
	Bidders can attend Sogo Tender, if Sogo Corporation has granted you permission to join, and make the necessary deposit before Tender.
	Necessary deposit is not needed for the Sogo Auction members. In order to be a member, your company must meet requirements as follows.
	a. Your company has been dealt with Sogo Corporation before, and
	b. Sogo Corporation has granted permission to your company

2. Warranty
	The principle of tender auction requires bidders to inspect what you bid at tender yards. Please call or e-mail unless access to tender yards are clear to persons who come to inspect. There shall be no guarantees or warranties, expressed or implied, statutory or otherwise of any nature in respect of the items offered at tender. Each and every item will be sold “as is, where is”. The auctioneers (Sogo Corporation) shall not be liable for machines’ damages or deteriorations from passage of time/change of weather.

3. Bidding
	As before the auctioneer (Sogo Corporation) can take bids only by fax with bid sheets. All payments are to be made in Japanese Yen. The consumption tax (5%) is not included.

4. Successful bids
	The bidder offering the highest bid accepted by the auctioneer shall be the purchaser of the offered item and no purchaser shall retract his bid. In case more than 2 bidders offer the highest bids, purchaser will be decided by lots.

5. Payment
	Tender invoice will be sent to the purchasers. All payments must be made to auctioneers by telegraphic transfer directly to the auctioneer’s bank account within a week. After tender, no cancellation can be acceptable in any purchasers. In the event purchasers fall to pay 100% amount within a week after the tender day, the purchasers shall be required to pay Sogo Corporation immediately 20% of purchase price as penalty by legal procedure.

6. Removal
	After full payment has been made and confirmed, the purchase items can be removed or sent. All purchase items must be removed from the tender site within 3 weeks or a storage fee may be applied.

7. Law
	The terms shall be governed by and interpreted under the laws of, and action hereunder shall be commenced in Japan.

8. Deliberation
	If at any time there may be dispute over bidding, the purchaser and the auctioneer will negotiate and settle.

e-mail : sogo@sogocorporation.com

Head office /Room No.202, Fujiso Bldg. ,1-13-4, Eitai, Koto-ku, Tokyo,135-0034, Japan
Phone +81-3-3643-3011 Fax +81-3-3643-9922
Stockyard /688-2, Sanbu-cho, Sanbu-gun, Chiba Pref. 289-1225, Japan
Phone +81-475-89-3882 Fax +81-475-89-3883