ACCEPTED GOODS

Each member can only apply to have 10 individual lots of merchandise to be auctioned in the auction. Each member will set the reserve price of each individual lot of merchandise to be auctioned; and the minimum value of each lot of merchandise is Y100,000.

By sending the merchandise to the Association, the members have entrusted the Association to have the merchandise auction during the particular date, and within or above the stipulated reserved price. Ownership of all merchandise will thus be entrusted to the Association .

All merchandise must arrive at the Association 3 days before the auction date. Merchandise will be offered for sale in lots identified by numbers, weight and /or quantity, stipulated in the item tags on each individual lot of merchandise.

Members may collect the unsold merchandise at the end of the following day of the particular auction, and merchandise that have not been collected will be sent to the members within 3 days after the auction.

Unsold merchandise will have to pay an administrative cost of Y2,000 to the Association

FLOOR-PRICE

If the item is sold at the floor price, the seller has no option to pull out his goods.


ITEM TAGS

The Cooperative will provide Item Tags for all goods.