Contract For Authorization Of Auction

Client:__________________

Auctioneer:__________________

In accordance with the Contract Law of the People's Republic of China, the Auction Law of the People's Republic of China and other relevant laws and regulations, both parties have reached an agreement through consultation to sign this contract:

Article 1 The trustee is willing to entrust the auctioneer to auction the following auction items publicly according to law:

    １. Name of Auction Object

    ２. Type and specification

    ３. Quantity

    ４. Quality

    ５. Package

    ６. Storage location

Article 2 Handover method of auction objects:_______________________

Article 3 The appraisal and base price of auction objects:______________________

Article 4 Auction method: (): [1] Low price auction [2] High price auction [3] No price auction [4] Bid sale

Article 5 Auction period:

Article 6 Rights and obligations of both parties:

1. The trustee shall guarantee the uncontroversial right to dispose of the auction property and provide the auctioneer with relevant supporting documents and detailed information about the auction property. When necessary, the auctioneer may at any time ask the trustee for advice, and the trustee may not refuse.

2. The trustor may determine the base price of the auction item if permitted by law; The auctioneer may not auction at a price lower than the base price, but the trustee shall bear the responsibility if the auction cannot be concluded because of this.

3. When delivering the auction item, the trustee shall point out to the auctioneer the defects of the auction item that he knows or should know. Otherwise, the client shall be responsible for the consequences.

4. The trustee shall pay the auctioneer an acceptance fee of yuan in advance for the appraisal, storage, transportation, inspection, announcement, advertising and other expenses of the auction item, and the auctioneer shall refund the excess and supplement the deficiency according to the actual expenses.

5. The trustee shall pay the auctioneer a commission of __% of the total transaction amount; The money may also be deducted from the auction proceeds by the auctioneer.

6. The auctioneer shall keep the base price of the auction item confidential, and shall not entrust or represent others to participate in the bidding; Nor may they entrust others to auction.

7. The auctioneer shall be responsible for the proper custody of the auction items in his possession, and shall timely notify the trustee of the changes in the auction items; The auctioneer shall be liable for compensation if the loss of the auction item is caused by the auctioneer's fault.

8. At the end of the auction process, the auctioneer shall pay all the proceeds of the auction to the trustee at one time through his bank account within 7 days after collecting all the receivables without delay.

9. For auction items that need to be taxed, the trustee shall pay the tax; With the consent of the tax authorities, taxes may be obtained from the proceeds of the auction.

10. After the auction is completed, the auctioneer shall issue an invoice to the bidder or a receipt conforming to the provisions of the tax authority according to the transaction price.

Article 7 The contract shall come into force after being signed by both parties and shall not be breached. Otherwise, the default party shall pay liquidated damages to the other party at% of the base price of the auction. In case of any dispute arising from the performance of the contract, both parties agree to submit it to Suzhou Arbitration Commission for arbitration.

Article 8 Other matters that need to be agreed

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Article 9 This contract is valid from to.

Annex: photocopies of supporting documents and materials related to the auction objects

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Client (signature and seal):

Address: Postal code:

Legal representative

Entrusted agent

Tel.: Fax:

Business license:

Signing date: auctioneer (signature and seal):

Address: Postal code:

Legal representative

Entrusted agent

Tel.: Fax:

Business license:

Signing date: