ZHONG CHENG

2020-09-22
Margin

The auction will strictly abide by the Transaction Agreement set out by Zhong Cheng Auction Co. Ltd. Prior to participating in the auction, bidders are advised to read and understand the following regulations:

1. Interested parties must complete the registration procedures with valid personal identifications (i.e. Identification card, Passport, etc.). The completion of a registration form and the payment of a bidding deposit are required.

2. Bidding deposit in the amount of NT$ 300,000 or US$ 10,000.

3. The bidding deposit must be transferred to Zhong Cheng Auction's specified Bank account prior to 29th September 2020, details as follow:

Beneficiary Bank: Taiwan Cooperative Bank Fu Hsin Branch 

SWIFT Code: TACBTWTP091

Beneficiary Bank Address: No. 237. Sec 1, Fusing South Road, Da-an District, Taipei City, Taiwan 106 (R.O.C.) 

Beneficiary Name: Zhong Cheng Auctions Co., LTD 

Beneficiary Account Number: 0914-665-003801

*The bank should be noticed that the transfer must be exactly the amount of bidding deposit. The payer will be responsible for any associated bank service fees.

4. After the 29th September 2020, parties interested in obtaining a paddle number must submit a cash security deposit during the Taipei previews (From October 1st to October 3rd, 2020). Acceptance will cease on October 3rd, 2020 (No other forms of payment will be accepted).

5. Telephone/written bids: In the event that the bidder chooses not to be present at venue on the day of the auction, the bidder may place a bid through means of a telephone or written bid. A registration form must be completed and the bidding deposit transferred to Zhong Cheng Auction’s specified Bank account before the September 29th, 2020.

6. If the bidding deposit has been transferred prior to September 29th, 2020, suitable proof or documentation is required. Once this information is verified, the payer will be contacted for details of his/her/its paddle number.

7. If the payment of the bidding deposit is made on the day of the auction, the payer may obtain his/her/its paddle number with valid personal identification (i.e. Identification Card, passport, etc.) for purposes of verification.

8. Return of the Security Deposit:

(1) Completed Transaction:

  1. For successful bidder, the hammer price, buyer's premium and other expenses will be deducted from the bidding deposit, any remaining value will be returned to the successful bidder within 14 business days through means of a wire transfer.

 (2) Nil Transaction: If the bidder is not able to purchase any lot and has no outstanding debts to the Company, the Company will return the bidding deposit to the bidder. For individuals with a bidding deposit transferred by wire, the bidding deposit will be returned within 14 business days through means of a wire transfer or cash return.

9. Zhong Cheng Auction Co Ltd. retains full discretion to accept or decline a payment in the event of any unforeseen disputes or discrepancies.