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STAR BUYERS HK AUCTION Online Auction Rules

These Online Auction Rules (hereinafter referred to as the “Rules”) provide the terms of use for the STAR BUYERS HK AUCTION (hereinafter referred to as the “Auction”), the services offered by Valuence International Limited (hereinafter referred to as the “Company”） Those persons who have completed registration for using services to be provided by the Company in relation to the Auction (hereinafter referred to as the use of “Services” and the “Members” respectively) may use the Services in accordance with the Rules.

Article 1 (Application)

  1. The Company shall hold the Auctions in accordance with the Rules. The Rules provide necessary procedures for the purpose of smooth operation of the Auctions, and shall be applicable to any and all agreements between the Company and the Members relating to the Services (hereinafter referred to as the “Member Agreements”).
  2. Matters for Notice to be announced on the Company’s website or provided individually in relation to Members shall constitute a part of the Rules. If any provision of the Rules is in contradiction to or in conflict with the Matters for Notice, the Matters for Notice shall prevail.
  3. The Company will deem a person who desires to be a Member to have consented to the Rules when he/she registers as a Member.

Article 2 (Change of the Rules)

  1. The Company may change the Rules without prior announcement. However, when the Company considers that a change of the Rules will be a significant disadvantage to Members, the Company may change the Rules by notifying the Members of the particulars of such change within a reasonable period of time in advance. The current Rules shall be applicable to the Members, and the contents therein shall be provided or announced to the Members by means the Company considers appropriate, such as posting the contents on the Company’s website.
  2. The latest Rules shall be posted on the Company’s website, and shall come into effect as of the time of the relevant posting.

Article 3 (Notifications or Communications)

  1. Communications and notifications between the Members and the Company shall be carried out by means which the Company thinks fit such as by email, in writing, or posting on the Company’s website, unless otherwise provided.
  2. When a notification is issued by posting on the Company’s website as referred to in the Article 3(1), the relevant notification shall be deemed to come into effect as of the time when it is posted on the website.
  3. The Member shall ensure that emails from the Company arrive at the email address registered by the Member without failure, and when the Company has request, the Member shall respond to such request without delay.
  4. The Company may notify the Members of information related to the Services and products provided by the Company, the Company Group companies, subsidiaries or other companies in alliance with the Company.
  5. When a notification as referred to in the preceding paragraph is issued by email, the disk capacity used for emails or files transmitted shall be covered by the Member.

Article 4 (Member Registration)

  1. Use of the Auction shall require registration as a Member in advance.
  2. When a person applies for registration for use by means provided by the Company, a Member registration for the Auction shall be deemed to be completed after the approval from the Company. A Member Agreement shall come into effect as of completion of the Member registration.
  3. When the Company considers that any of the following events applies to a Member registration applicant, the Company may not accept the application, and the Company shall have no obligation to give any reasons:
    1. When false items of information are registered at the Member registration;
    2. When there is some insufficiency in the contents of an application for the Member registration;
    3. When the applicant was in violation of the Rules in the past;
    4. When there is an obstacle to the applicant concluding an agreement effectively alone, such as in case of the applicant being a minor;
    5. When the application is made by a person who belongs to Anti-social Forces or a country subject to United Nations sanction; or
    6. In any other case that the Company judges inappropriate.

Article 5 (Member Information)

  1. A person who desires to be a Member shall register with the Company by a method prescribed by the Company and provide the following Member information such as the company name, nationality, address, administrator, email address, etc. upon Member registration.
  2. When there are any changes after the registration of Member information, the Member shall register with the Company without delay the contents of the relevant changes.
  3. The Company shall assume no liability for damage suffered by the Members due to negligence on its part in the registration process, etc. under this Article.

Article 6 (Responsibility of Members)

  1. The Members shall use the Auction at their own responsibility, and shall agree to assume liability for damage suffered by themselves or third parties as a result of using the Auction.
  2. The Members shall not disclose, lend, or share with a third-party authentication information and shall keep the same secret strictly (including the change of passwords as needed) so that no personal information will be divulged to a third party.
  3. When any damage is suffered by a Member or other parties due to insufficient management, errors in use or use by a third-party authentication information, the Company shall assume no liability.
  4. When a third party uses the Auction via the authentication information of a Member, the relevant action shall be deemed to be used by the Member himself/herself, and the Member shall pay service fees for such use as well as bear any and all other obligations. In addition, if any damage is suffered by the Company due to the relevant action, the Member shall compensate the Company for the relevant damage.
  5. In order to ensure security in the use of the Auction by the Members, the Company shall not respond to requests for confirmation or reissuing of authentication information by phone in any event, even in case of emergency. If confirmation or reissuing of authentication information is necessary due to loss, etc., the Members shall make a request by the method separately provided by the Company.

Article 7 (Management of Auctions)

  1. The Company may outsource to a third party all or a part of the operations that will be necessary in relation to holding the Auctions for the Members. In such instance, the Company will manage the relevant service providers properly, as well as cause the relevant service providers to be responsible to the such extent as the Company may be responsible as provided in the Rules.
  2. Non-Members may not use the Auction. No use of the Auction shall apply even to contractors, etc. that conclude agreements with the Members.
  3. In the Auction, a seller participates under a sales agreement with the Company, and a purchaser participates under a sale and purchase agreement with the Company.
  4. When there is any latent defect in the purchased products that would not reasonably be expected to ascertain or observe by a careful visual inspection of the products, the purchaser shall notify the Company within two (2) weeks of the day following the day of holding the Auction; provided, however, that if the purchaser was aware of the relevant defect, or when the purpose of the agreement can be achieved even with the defect, this shall not apply. In addition, notification after the said 2-week period may not be accepted.
  5. When the Company decides a product to be improper (this means counterfeit products , similar goods, stolen goods, lost goods, belongings of others, or any other illegal products in the light of social norms), the Company and the purchaser may terminate the transaction concerning the relevant products; provided, however, that unless otherwise provided in the applicable laws and regulations, etc., the period shall be up to one (1) year from the successful bid date for the relevant product.
  6. In a case where a matter provided in Paragraph 4 or 5 of this Article is discovered in products of which sale is contracted by the seller, the seller shall be responsible for the relevant matter and the Company shall have no responsibility. In addition, if the sale and purchase agreement concerning the product between the purchaser and the Company is terminated due to the relevant matter, the sales agreement concerning the product between the seller and the Company shall also be terminated, and the Company shall refund the received service charges to the seller and the purchaser.
  7. For products of which sales are contracted by the seller to the Company, if the purchaser notifies the Company to the effect that a matter as provided in Paragraph 4 of this Article is applicable, the Company shall notify the seller to the effect that there has been such a notification within three (3) weeks of the day following the day of holding of the Auction. In addition, for products of which sales are contracted by the seller to the Company, if the purchaser notifies the Company to the effect that a matter as provided in Paragraph 5 of this Article is applicable, the Company shall notify the same to the seller promptly.
  8. After the notice from the Company as provided in the former part of the preceding paragraph, the Company may request the seller and the purchaser to enter into direct negotiations to deal with the defects.
  9. If a period of two (2) weeks or longer is unavoidably required for confirmation with an appraisal organization or manufacturer for the purchased products, a request should be made for extension of the negotiation period within two weeks from the day following the day of holding the Auction to the Company, and if the negotiation period is extended, the original negotiation period may be extended by thirty (30) days. In addition, when the Company is contracted by the seller for sales, the Company shall notify the seller within three (3) weeks of the day following the day of holding the Auction of the effect that the period will be extended.
  10. The Company may suspend or temporarily suspend the management of the Auction if the Company decides it is impossible to maintain the smooth management of the Auction.
  11. Even if any damage is suffered by a Member due to suspension or temporary suspension of the Auction under the preceding paragraph, the Company shall assume no liability.
  12. Even in the case where the reasons for suspension or temporary suspension as referred to in Paragraph 10 of this Article are eliminated or remedied, the Company shall not be obligated to reopen the Auction.
  13. Other details of management of the Auction shall be provided in Appendix 1 to the Rules.

Article 8 (Handling of Confidential Information)

  1. Neither the Members nor the Company may disclose or divulge to a third party technical, sales, or other business-related information provided by the other party for execution of the Auction that is especially designated in advance in writing as confidential by the other party and expressly stated as being confidential information upon provision, specifying the scope of the confidential information (hereinafter referred to as the “Confidential Information”); provided, however, this shall not apply to the case where the advance written approval of the other party is obtained or information to which any of the following is applicable:
    1. Information already possessed without confidentiality obligations;
    2. Information duly obtained from a third party without confidentiality obligations;
    3. Information independently developed without information provided by the other party;
    4. Information that comes into the public domain without breaching Member Agreements, etc., irrespective of whether before or after receipt;
    5. Information provided without a designation, specification of scope or statement to the effect that it is confidential in accordance with this Article.
  2. Notwithstanding the provisions of the preceding paragraph, out of the Confidential Information, the Members or the Company may disclose information that should be disclosed under the provisions of the laws and regulations, or by request by authorized public offices to the destination of disclosure under the relevant laws and regulations, or the relevant public offices.
  3. The party that receives the Confidential Information shall take measures necessary for management of the relevant Confidential Information.
  4. The party that receives the Confidential Information shall use the Confidential Information only for the purpose of execution of the Auction, and may reproduce or alter (hereinafter collectively referred to as “reproduction, etc.” in this Article) documents, etc. that contain the Confidential Information (hereinafter referred to as “documents, etc.” in this Article) necessary for execution of the Auction. In such instance, the Members and the Company shall handle the Confidential Information after reproduction, etc. as the Confidential Information as provided in this Article. If reproduction, etc., beyond the scope necessary for execution of the Auction is necessary, the party shall obtain advance written approval from the other party.
  5. The party that received the Confidential Information shall return to the other party or dispose of documents, etc. (including the Confidential Information reproduced or altered with the approval of the other party under Paragraph 4 of this Article) when so requested by the other party.
  6. Notwithstanding the provisions of Paragraph 1, all information related to successful bid, such as successfully bid products, successful bid price, etc., shall be the Confidential Information.
  7. The provision of this Article shall remain in effect for five (5) years after termination of the Member Agreement.

Article 9 (Handling of Personal Information)

  1. Personal information of the Members that is acquired by the Company shall be handled in accordance with the Privacy Policy (https://www.starbuyers-auction-hk.com/information/privacy_policy) and “On Handling of Personal Information” (https://www.starbuyers-auction-hk.com/information/personal) separately provided by the Company.
  2. The Company may provide personal information acquired from the Members to service providers to the extent necessary for conducting the Auction. In such instance, the Company shall select the service providers that satisfy the personal information protection standards of the Company, and check on the relevant service providers regularly by survey, etc.

Article 10 (Intellectual Property Rights)

  1. The system environment related to the Auction is protected under the Copyright Ordinance (Cap. 528) and conventions related to copyrights of Hong Kong and related countries, and other laws and conventions related to intellectual property rights.
  2. Permission to participate in the Auctions by the Members under the Rules shall not transfer any rights to the Members. The Members shall only be permitted to participate in the Auction nonexclusively, and shall not acquire any rights to the system environment related to the Auction.

Article 11 (Prohibitions)

The Members must not commit any of the following acts while in the Auctions:

  1. Acts against laws and regulations or public order and morals;
  2. Criminal acts;
  3. Acts such as granting permission of usage to a third party;
  4. Destruction of or interference with servers or networks of the Company;
  5. Acts that may possibly interfere in the operation of the services of the Company;
  6. Collecting or accumulating personal information, etc. on the Members;
  7. Impersonation of the other Members;
  8. Acts that will or may infringe the rights of the Company or a third party;
  9. Acts that provide benefits to Anti-social Forces, etc. directly or indirectly in relation to the services of the Company;
  10. Any other act which the Company considers as improper.

Article 12 (Restriction of Indemnification)

  1. The scope of indemnification for which the Company assumes liability to the Members shall be limited to damage directly suffered by the Members, and notwithstanding the prediction or whether or not there is a possibility thereof, the Company shall assume no liability for damage.
  2. The maximum amount of indemnification to the Members arising out of the Auction shall be up to the value of the successful bid or purchase price of the product that is related to the relevant damage, out of the products actually bid on successfully or purchased by the Member.

Article 13 (Cancellation by Members)

  1. The Members may cancel the Member Agreement at any time without retroactive effect.
  2. When a Member is to cancel the Member Agreement as referred to in the preceding paragraph, the Member shall notify the Company of cancellation by the method separate notice.

Article 14 (Cancellation by the Company)

  1. The Company may cancel the Member Agreement at any time by notifying the Member no later than thirty (30) days in advance of the cancellation date.
  2. When the Company judges that any of the following items is applicable to a Member, the Company may cancel all or part of the Member Agreement without advance notice or formal demand to the Member:
    1. When the Member is in breach of the Rules and the Company is of the view that there is no possibility of improvement, or even though the Company makes a formal demand for remedy or performance to be carried out within a reasonable period, the Member fails to remedy or perform within the relevant period;
    2. When it is discovered that the whole or a part of the registered information is untrue;
    3. When the Member is subject to petition for attachment, provisional attachment or auction, or delinquency disposition for taxes and dues;
    4. When the Member is subject to a petition for bankruptcy, commencement of winding-up , or civil rehabilitation proceedings;
    5. When there is significant concern on the part of the Company over the credit status of the Member;
    6. When the Member is subject to a disposition of cancellation or suspension of business license by a supervising agency;
    7. When the Member adopts a resolution for dissolution, reduction of capital, assignment of all or a material part of the business and/or assets, etc.;
    8. When notice to the Member fails to arrive, or is returned to the Company, or when it becomes impossible for the Company to have a contact with the Member;
    9. When there is no record of use of the Auction by the Member for one year
    10. When the Company is of the view that there is an act of the Member that will or may interfere in the management of the Auction.
    11. When the Member fails to remit the annual membership fee;
    12. When the Member is, or is a cohabitant with, or formerly was, an Anti-social Force (organized crime group, member of an organized crime group, associate member of an organized crime group, company related to an organized crime group, corporate racketeer, rogue acting in the name of a social movement, rogue acting in the name of political activity, special intelligence violent group and parties similar to the above; the same shall apply hereinafter);
    13. When the Member himself/herself commits or causes a third party to commit the following acts against the Company:
      1. Illegal or unreasonable improper demands;
      2. Violent acts including acts of intimidation, not limited to exercise of tangible power;
      3. Acts of insistently coercing transactions, such as purchase of information magazines, etc.;
      4. Making demands to the Company by masquerading with the attributes of victim groups and the like; or
      5. Any other facts prohibited under the Organized and Serious Crime Ordinance (Cap. 455).
    14. When the Member notifies the Company of the fact that the Member is an Anti-social Force, or a related party thereof, or in similar cases; or
    15. When any event occurs by which it becomes difficult to perform the Member Agreement.
  3. If the Member has any obligation payable to the Company such as unpaid service fees as of the time of cancellation of the Member Agreement pursuant to the preceding two paragraphs, all obligations of the Member under the Member Agreement shall be accelerated and become immediately due and payable

Article 15 (Governing Law and Jurisdiction)

  1. The Rules shall be governed by and construed in accordance with the laws of Hong Kong.
  2. If lawsuits are required to be initiated between a Member and the Company, the court which exercises jurisdiction over the location of the head office of the Company shall be the agreed court of exclusive jurisdiction of the first instance.

Article 16 (Severability)

For matters not provided in the Rules, the general principles of the laws and regulations shall be applicable. Even if any of the Rules is invalid, there will be no effect on the validity of the Rules overall, and the relevant invalidated provisions shall be replaced with valid provisions that have the closest tenor to the relevant part.

[Appendix 1]

- Commissions

The Company shall receive a certain amount of commission from the seller and the purchaser for goods knocked down. The commission amount shall be determined separately from the Terms of use.

- Other special agreements

The following agreements correspond to a special agreement under the Terms of use. If there are any provisions contradictory to or infringing the Terms of use and any special agreement, the special agreement shall prevail.

  1. Notes for the Purchaser
  2. Notes for the Seller