YUMAC Tender Style AuctionJuly. 1, 2022

GENERAL CONDITIONS FOR REGISTRATION AND PARTICIPATION (YUMAC RULE)

Before participating this Auction, please read the following conditions carefully and subscribe the application at the registration. Company and/or person subscribed the application will be considered as the participants who agreed with the conditions. Participation in the Auction is at your own risk. Participants shall take the responsibility for any injury or damages at the Auction. The auction organizer and/or its agents shall not take the responsibility for any burden that could have come along with the Auction.

1. REGISTRATION

In order to participate in the Auction, please contact YUMAC site office and make pre-registration. All applicants will be required to provide the following documents for registration to prove your bona fides. Pre-registration may be made via fax or with registration column on our web-site.

• Passport (for Non-Japanese applicants)
• Drivers' license or Identification with photo showing age and address of the applicant (for Japanese applicants)

New auction member will be selected under the following criterion. A new applicant is required to submit the following before the Auction.
Please note that in the event of new Auction members registered during this Auction, such members may not participate this Auction.

*  For the registration of new members, advance screening is necessary.

• Two referrals from YUMAC members or YUASA TRADING.
• Company profile (please fill in our questionnaire)
• In some cases, a deposit is required for first participation. (For details, please contact Administration.)
• The applicant does not fall under any of the following items.

・ Companies, organizations or individuals listed in the "End Users List" published by the Japanese government
・ Companies, organizations or individuals located in countries subject to UN sanctions list
・ Companies, organizations or individuals located in UN arms embargoed countries or regions
・ Companies, organizations or individuals located in Islamic Republic of Iran, Syrian Arab Republic, North Korea,
     The Republic of the Sudan, Republic of Cuba, etc.
・ Other companies, organizations, individuals, etc. designated separately by the auction organizer

Registration application forms are provided at each site. It is also possible to apply via the Web.
Please note that we can not clarify on the decision of member selection. Applicants may not be allowed to join YUMAC member as the result of screening.

2. DECISION OF SUCCESSFUL BIDDER

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All equipment will be sold to the highest bidder. As the minimum price for each equipment is set by YUMAC, bidding may not be always successful. In the event that two or more participants submit the same bidding price, the successful bidder will be decided by lot drawing.
The method of bid is to fill in your register number and company’s name on the bid form and put it in the bidding box. This Auction is not a "Parade-Style" auction. In the event that the YUMAC site office can not contact the bidder due to the irregularities in the bid form, the auction organizer will determine on whether to complete the bid.

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At the time of a successful bid, it is a prerequisite for a successful bidder that none of the following items apply.
・ Companies, organizations or individuals listed in the "End Users List" published by the Japanese government
・ Companies, organizations or individuals located in countries subject to UN sanctions list
・ Companies, organizations or individuals located in UN arms embargoed countries or regions
・ Companies, organizations or individuals located in Islamic Republic of Iran, Syrian Arab Republic, North Korea,
     The Republic of the Sudan, Republic of Cuba, etc.
・ Other companies, organizations, individuals, etc. designated separately by the auction organizer

3. BIDDING

All prices are indicated in Japanese Yen and Japanese Yen is the only currency accepted for all finance-related transaction.

4. NO WARRANTIES (As-Is Sale)

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YUASA TRADING and/or its agents shall not guarantee, express or implied, against the attribution of ownership, other rights, defect, etc for all equipment which are sold in this Auction. Please check the equipment by yourself before bidding, as all equipment sold is “As-Is”. The auction organizer and/or its agents shall not accept any cancellation, refund requests or claims on the equipment.

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After falling of the hammer or closing of the auction period, the successful bidder of such equipment shall be liable for all damages, including but not limited to the damages arising from seize-up, failure, oil leak and defective battery due to any factors of the time passage and weather, and the auction organizer and/or the exhibitors shall not be liable for such damages. If the equipment is in need of repair, the repair shall be set up by the successful bidder at his own risk.

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Especially, the auction organizer and/or the exhibitors shall not be liable for any trouble, including but not limited to accidents and seize-up when carrying the equipment out.

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The exhibited equipment may be inspected at each Auction site. The participants shall the responsibility for accidents or damages happened while in Auction. The auction organizer and/or its agents shall not bear any responsibility for such accidents or damages.

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The determination of equipment price shall be made on the basis of the equipment “As-Is”, regardless of model, type, model year, utilization, specifications, etc in machine list which is used as reference.

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The successful bidder cannot receive any guarantee or compensation for damages regarding the exhibited equipment from the organizer and/or exhibitors in connection to the following items.

• Providing various parts, providing drawings, instruction manuals, etc., responding to various inquiries, and various support that is normally provided when the exhibited equipment is purchased directly from the manufacturer and its sales company (including but not limited to repair support etc.)
• Burden of expenses related to export procedures (Including export work, export licenses, export customs clearance procedures, and other permits, registrations, or similar procedures required by Japanese or foreign laws. Hereinafter referred to as "export procedures") of exhibited machines overseas, response to inquiries related to export procedures, compensation for damages, etc.
• Guarantee that the exhibited equipment does not violate the laws and regulations of the export destination and other overseas countries when the exhibited equipment is exported.

5. RESTRICTIONS OF RESALE

The successful bidder is committed to complying with the following items.

• Do not resell exhibited equipment to companies, organizations or individuals located in Iran, Syria, North Korea, Sudan, Cuba.
• Do not resell the exhibited equipment to companies, organizations or individuals located in countries subject to UN sanction list, or to companies, organizations or individuals located in UN arms embargoed countries or regions and Do not trade with other countries subject to UN sanction list or UN arms embargoed countries or regions regarding exhibited equipment.

6. PURPOSE AND USE OF PURCHASE

The successful bidder himself or the successful bidder's customer shall purchase the exhibited equipment for the purpose of use (for example, for agriculture) specified by the organizer and/or exhibitors, and promises not to use the exhibited equipment other than such purpose.

7. MISENTRY IN MACHINE LIST

With respect to the machine list on web-site and/or the related papers distributed at or transferred from the Auction sites, the auction organizer and/or its agents shall not be responsible for miss entry on model year, type, utilization, specifications of the exhibited machine.

8. PRICE & SHIPMENT

All prices are indicated in Japanese Yen delivered "Ex-Yard". The consumption tax shall be separately charged according to Japanese tax laws. All expenses such as transportation fee from YUMAC STOCK YARD etc. or exporting fee shall be borne by the successful bidder. (This includes expenses (IMDG) incurred for work concerning freight designated as hazardous material as determined by the International Maritime Organization (IMO) or Maritime Safety Committee (MSC), and also expenses for radiation checking at the time of port arrival.)

9. SUCCESSFUL BIDDING FEE

(1)

For all successful bids of product, successful bidding fee will be charged for each lot, in addition to the price of the product.

(2)

The successful bidding fee is as follows:
*  If the amount of Successful bidding is less than JPY 500,000：5% of the bidding price for each lot.
*  If the amount of the successful bidding is above JPY 500,000：JPY 10,000 for each lot.

10. SHIPPING ARRANGEMENTS

All arrangements related to the transportation of successful equipment shall be made on the responsibility of the successful bidder. (Please consult with the YUMAC site office about the shipping arrangement, if necessary.)

11. PAYMENT

Payment terms: Advanced payment by wire transfer to the bank account mentioned below;

SUMITOMO MITSUI BANKING CO.,
NINGYOCHO BRANCH
CURRENT A/C No. 8701188
ACCOUNT NAME: YUASA TRADING CO., LTD.

100% of the contract amount shall be paid by the designated date. Any equipment purchased during the Auction will be released at the Auction site only after the payment has been received in full by the auction organizer.
Any L/C(s) are not acceptable. Any illegal documents such as an under-valued Invoice are not to be issued by us.

12. LATE PAYMENT & CANCELLATION FEE

Overdue interest at the rate of twenty five percent (25%) per annum is to be applied to late payments. In the event of cancellation or default of agreement, fifty percent (50%) of contract price shall be paid as cancellation fee by the successful bidder. Overdue interest and/or cancellation fee shall be paid to the above bank account. I such cases, the ownership of the equipment still belong to the auction organizer. All suit stemming from this Auction shall be governed by Tokyo Summary Court or Tokyo District Court under the laws of Japan.

13. VEHICLE INSPECTION CERTIFICATE, CERTIFICATE OF ASSIGNATION AND OTHER NECESSARY DOCUMENTS

The request for the vehicle inspection certificate, certificate of assignation and other necessary documents for this Auction shall be made within 1 month after the completion of this Auction. Such a request thereafter is not acceptable. Please note that we can not present any documents which are not held by exhibitors. Automobile tax or other expenses incurred at the change of the fiscal year shall be born by successful bidder.

14. REMOVAL

All awarded equipment shall be removed from the auction site within 14 days. The auction organizer shall not be responsible in any way for the equipment after this date.
The storage fee of JPY500 per unit per day will be imposed on all equipments after exceeding the time limit for removal.

15. TO COMPLY WITH THE LAWS FOR EXPORT

This Agreement shall be governed and construed under the Laws of Japan. Should any dispute arise in connection with this Agreement, Tokyo District Court, Japan shall exclusively have the jurisdiction over such a dispute. In the event of export of the awarded equipment, all export business shall be subject to approval of Japanese government for Export (<=Export License of METI (=Ministry of Economy, Trade and Industry).
The Laws of Japan stipulate that the E/L is necessary to make exportation for the purpose of the development, manufacturing, or storage of weapons for mass destruction such as nuclear, biological or chemical weapons and missiles or conventional weapons.

16. Shipment overseas

In cases where a customer who is a foreign national exports awarded equipment, export under the terms EX-YARD, EX-WORKS, and EX-GO DOWN cannot be accommodated.

17. COMPENSATION

The auction members shall be liable at their own expense in the event of troubles, disputes, litigations, etc. with third parties (including but not limited to national and local governments) related to YUMAC Tender Style Action or the exhibited equipment.
If the exhibitor or the auction organizer suffers damages (including but not limited to attorney's fees) in connection with such troubles, disputes, litigations, etc., the auction members shall compensate all the damages.