This agreement concluded between the shipbid operator and you has the same legal effect with the contract.

In this agreement, the protocol refers to both two sides. And the “Shipbid” refers to the platform operated by Zhejiang Shipping Exchange Market Co. Ltd whose website is www.shipbid.net.

I．Content and subscription

1、This agreement includes the text and all kinds of rules that have been published or may be published in the future. All rules should be integral parts of this agreement and have the same legal effect as the text of this agreement. Unless expressly stated, any services provided by Shipbid and its affiliates (hereinafter referred to "ship auction services") have legally binding.

2、You may read through this agreement before operating on the Shipbid. If there is any question, you need to consult the Shipbid. As long as you have used the service of the shipbid whenever you have read the content of this agreement carefully before using it or not, you are bound to this agreement. Then you shouldn’t claim this agreement invalid or request revocation of this agreement, for not reading the contents of this agreement or getting the answer from the Shipbid.

3、You promise to accept and abide by this agreement. If you do not agree to it, you should immediately stop the registration process or stop using the Shipbid immediately.

4、The Shipbid has the right to formulate and modify this agreement or rules from time to time as needed, by website publicity instead of notifying you separately. The agreements and rules automatically entry into force once published on the website. You need to stop operating on the Shipbid if you don’t accept the modification. Your continued operation on the Shipbid means that you accept the amended agreements and rules.

II、Sign up

1、Qualification

You should confirm that you are a legal person or other citizen or organization capable of civil rights and full civil conducts when you complete the registration process or use the other services with other methods permitted by the Shipbid. If you do not have the qualification mentioned before, the Shipbid has the right to cancel (or permanently freeze) your account.

2、Account

After you sign this agreement, finish the registration and get approval from the shipbid, your account of member management will take effect immediately. This Account will be the only management account you apply to use as a legal person and one legal person shouldn’t register for another account on the Shipbid..

You should keep the management account and passwords safe. Unless required by a law or judicial stipulation and approved by the shipbid, the management account and password can’t be transferred, donated or inherited in any manner (except property rights related to the account). If there are any improper uses or any other situation that will endanger the safety of the account, you should notify the shipbid immediately in an effective manner and request to stop related services. You should understand that there will be reasonable time to take action against your request and the shipbid would not afford any responsibilities for the consequence (including but not limited to any of your losses) before taking action.

To facilitate your use of the service from the Shipbid and the other affiliates or organizations (hereinafter referred to "other services"), you will agree and authorize the Shipbid to get the information that you provide and use during registration and operation and transformation of information to the affiliates or organizations which will offer you useful help. Besides, you will agree the Shipbid get the information which you register and operate on the suppliers of the Shipbid or other organizations.

3、Membership

You will become the member (hereinafter called “Member”) of the shipbid after you filling in all relevant information, reading and signing this agreement, and finish all registration procedures or use the service in other permitted ways by the shipbid.

The initial Member of the shipbid defaults buyer member. Payment condition for ordinary members should be bill payment. The time of paying the bill relies on the auction notice and auction rules. You should be aware that the Shipbid charges you only as an agent for the seller who provides the lot for you.

At the time of registration, you should provide with correct information and update your information timely, in accordance with the laws, regulations, and the prompts of the registration page, to make it true, complete and accurate. If there is reasonable cause to suspect that the information you provide is incorrect, false, outdated or incomplete, the Shipbid has authority to give you a notice of inquiry or requirement of correction and has the right to delete the information directly. Moreover, the Shipbid has the right to stop and terminate to provide you with part or all of the services. The Shipbid shall not take responsibility for any direct or indirect expenses arising from the above circumstances.

You should accurately fill in and update your telephone numbers, address and other contact information, so that the Shipbid could contact with you effectively. If the Shipbid can’t get in touch with you through all these methods, any loss or increasing costs shall be borne by you.

You should afford all the taxes and any other costs of hardware, software, service and so on while you are using the services of the shipbid.

III、Services of the shipbid

1. Members can use all the services of the shipbid, such as using online bidding、searching online for purchase information、scanning relevant information of the lot and MSM notice reminder. Details shall be subject to the services supplied by the shipbid.

2. When you and other members of the Shipbid have disputes during the transaction, and either part or two parties jointly requires mediation from the Shipbid, the Shipbid has the right to make mediation decision based on unilateral judgment as an independent third party. You understand and agree to accept the judgment and decision of mediation from the shipbid.

3. You understand and agree that the shipbid has right to offer essential information such as user’s information and transaction record to the relevant government departments (including Judiciary and administration department) as per their requirement. If you are suspected of infringing upon the legitimate rights and other people's intellectual property rights, the Shipbid also has the right to provide necessary information of your identification to obligee under the circumstances of a preliminary judgment on your alleged infringement.

4. All the taxes and other costs of software、hardware、service accrued in the process of using the service will be borne by yourself.

IV、Standards of using services

1. You shall promise and abide by following agreement while using service of the Shipbid:

(a) All your actions should abide by the laws, regulations and other normative documents and the rules and requirements of the Shipbid. You shouldn’t violate the public interest or public morality, shouldn’t damage the lawful rights and interests of others, shouldn’t evade taxes, and shouldn’t breach this agreement and other related rules.

(b) In the bidding process, you need to be faithful. Do not take any unfair competition behavior. Do not disturb the normal order of online auction, and do not act irrelevantly during online auction.

(c) Do not post the goods or services that are forbidden to be sold or restricted by the government (unless legally and adequately licensed).Do not publish information or services that are suspected of infringing upon the intellectual property rights or other legitimate rights and interests of others. Do not publish goods or information about services that are contrary to the social public interest or public morals or are not suitable for sale on the Shipbid. Do not publish any other information that is suspected of violating this agreement or other rules.

(d) Do not make any commercial use of any data on the Shipbid, including but not limited to copy and transfer the information displayed on the Shipbid or by other manner, without the prior written consent of the Shipbid.

(e) Do not use any device, software or routine to intervene or attempt to intervene of the normal operation of the Shipbid or any auction activity on the Shipbid. You shall not take any action that would cause unreasonable large data loads to the Shipbid.

2. You understand and agree with:

(a) If you violate the aforesaid promises and have any legal consequences, you shall be solely responsible for all liability on your own and shall ensure that the Shipbid is free from any loss or increasing costs.

(b) Based on the need to maintain the order and the safety of auction system, the Shipbid has the right to close the corresponding auction orders in the event of malicious bidding and other event disrupting the normal bidding order.

(c) If you are in violation of the provisions of laws or infringement of rights under the effective legal instrument of government administrative or judicial authority, or under the judgment of the Shipbid that violating this agreement or the rules, the Shipbid has the right to publicize your allegedly illegal or breach of contract behavior on the Shipbid and the measures taken against you.

     (d) For any information that you have posted allegedly infringing the legal rights of others or violating this agreement and/or the rules, the Shipbid has the right to remove it without noticing you and to penalize according to the rules.

(e) For your action in violation of this agreement or the action that you have taken or not yet taken but already has an impact on the Shipbid and its users, the Shipbid has the right to unilaterally identify your behavior and constitute a breach of this agreement and / or rules. And according to the rules of the unilateral determination, we shall handle or terminate the services to you without any prior consent or prior notice. You should keep all the evidence relating to your actions and respond to the adverse consequences of failing to provide sufficient evidence.

(f) If you are suspected to violate the relevant laws or the rules of this agreement, you may be subject to any loss of the shipbid or claim for compensation from any third party, or the punishment from any administrative department, you shall compensate for the loss or cost including the reasonable lawyer’s expense.

V、Special empowerment

You totally understand and irrevocably grant the shipbid and its related companies with following rights:

1. You fully understand and irrevocably grant the shipbid or a third party granted by the shipbid or the third party both agreed by you and the shipbid to deal with all the transactions on the shipbid or trade disputes may accrue. You agree to accept the judgment and mediation decision of the shipbid, and the third party granted by it or the third party agreed by you and the shipbid. This decision will be legally binding on you.

2. Once you make any forms of promises with the shipbid and/or its related companies, including but not limited to Zhejiang Shipping Exchange Co., Ltd, and the related companies have confirmed you breach this promise, then the shipbid is entitled to immediately take action to restrict your account, as said in the agreement and commitment, including stopping or terminating to provide you with part or all of the services, and publicizing your default situation confirmed by affiliates.

3. Once you break this agreement, or other agreemenst signed with the Shipbid, the Shipbid has the right to notify its affiliates in any ways to restrict you rights, including but not limited to freeze your bid deposit, stop or terminate to provide you with part or all of the services, and publicize your default situation on websites operated or controlled by the Shipbid.

4. You grant the exclusive, worldwide, permanent, free right for the Shipbid to use the information, and data provided by you (and it has the right to reauthorize the rights at multiple levels). In addition, the Shipbid has the right to (all or partly) copy, revise, rewrite, translate, publish, distribute, execute and display all your information and data (including but not limited to the registered information, transaction data and all kinds of information displayed on the Shipbid) or make derivative works. And the Shipbid could take the information above into other works in any form of media or technology now known or in the future.

VI、 Scope of responsibility and limitation of liability

1. The Shipbid is responsible for providing services in the form of "actually" and "available". But the Shipbid does not make any express or implied warranties, including but not limited to the suitability, without error or omissions, persistence, accuracy, reliability, and fitness for a particular purpose of the services. At the same time, the Shipbid shall not make any commitment and guarantee to the validity, accuracy, correctness, reliability, quality, stability, integrity and timeliness of the technical and information involved in the service.

2. You understand that the information on the Shipbid is published by the user, and there may be risks and flaws, while the Shipbid is only the place of the transaction. As the platform of getting information, and transacting, the Shipbid can’t control the quality, safety or legitimacy of the items involved in the transaction, the authenticity or accuracy of the trade information, or the abilities of other parties fulfilling their obligations during the transaction. You should carefully judge and determine the authenticity, legality and validity of the relevant articles and/or information, and undertake the accordingly responsibility and loss.

(a) The shipbid has reasonable grounds to assume that a particular member or a specific transaction may be subject to major violations or breaches.

(b) The Shipbid has reasonable grounds to believe that the user's behavior on the platform is suspected of being illegal or improper.

3. Based on your irrevocably grant, the Shipbid, the third party authorized by the Shipbid, and the third party unanimous by you and the Shipbid have the right to handle the dispute between you and other members arising from the transaction, and have the right to combine the facts related to the dispute and the applied rules, and then make a decision. The decision is binding on you. If you have not executed as the decision within the deadline, the Shipbid has the right (but no obligation) to pay directly on the deposit you charged to the Shipbid itself and its affiliates. And you should charge the deposit timely and make up for the loss of the Shipbid and its affiliates. Otherwise, the Shipbid and its affiliates have the right to directly offset your interest in other contracts and have the right to pursue of recovery.

You understand and agree that the Shipbid, or the third party authorized by the Shipbid, or the third party unanimous by you and the Shipbid are not judiciary can only identify the evidence as an ordinary person. Based on your irrevocably grant, the Shipbid, the third party authorized by the Shipbid, and the third party unanimous by you and the Shipbid have the right to make decision, but they can’t guarantee that the outcome of the dispute is consistent with your expectations and they are not responsible for the conclusion of the dispute mediation.

5. You understand and consent that the Shipbid would not be responsible for any damages because of any following situations, including but not limited to the losses of profit, business reputation, usage, data or other invisible loss of damage (whether the possibility of such damage has been informed to ship-auction net):

(a) Use or fail to use the service of the Shipbid.

(b) The third party unauthorized use of your account or change your data.

(c) The costs and losses incurred in the purchase or acquisition of any commodity, sample, data, information, exchange of any goods or substitute behaviors, etc., by means of Shipbid services.

(d) Your misunderstanding of the Shipbid services.

(e) Any other losses incurred not directly by the Shipbid, but relating to the services of the Shipbid.

6. In any circumstances, the Shipbid would not take any responsibilities for followings: normal maintenance for the equipment of information network, information network connection failure, computer, communications or other system failures, power failures, strikes, labor disputes, riots, insurrection, productivity or insufficient productive resources, fire, flood, storm, explosion, war, government behavior, the command from the judicial administrative organs or unable to service or service delayed from the inaction of a third party.

VII. Termination of the agreement

1. You agree that the Shipbid has the power to decide on their own without prior notifying you for any reason to stop or terminate all or part of the services or to temporarily freeze or permanently freeze (cancel) the authority of your account. And the Shipbid won’t take any responsibility for you and any other third party.

2. The Shipbid has the right to terminate this agreement directly by cancelling your account, and has the right to permanently freeze (cancel) your account, when the following circumstances occur:

(a) After your services have been terminated by the Shipbid, you are suspected to be registered again directly or indirectly in the name of another person;

(b) The phone number doesn’t exist or cannot receive the message, and there is no other way to contact you, or when the Shipbid notify you to change the e-mail information by other methods, but you still have not changed it into a valid cell phone number within three working days after receiving the notification of the Shipbid;

(c) The main contents of the user’s information provided are unreal or inaccurate, or untimely or incomplete;

(d) You clearly express and notify the sihpbid you are reluctant to accept the new service agreement when this agreement (including the rules) changes;

(e) Other circumstances to terminate service against the shipbid’s regarding.

3. Ship-auction net has no obligation to preserve or disclose any information in your account or to transmit any unread or unsent information to you or any third party after your service account is terminated or permanently frozen (cancelled).

4. You consent that the shipbid still has following rights after termination of contract relationship with the Shipbid:

(a) Keep saving your user’s information and all transaction information during using the Shipbid services.

(b) The shipbid can still claim rights pursuant to this agreement if you offense or violate this agreement and/or the rules during the use of the Shipbid service.

5. Once the shipbid suspends or terminates to offer service to you, your auctions before the suspension or termination of the services should be dealt in accordance with following principle. You shall deal with it by yourself and fully undertake any cost arising from any dispute, loss or increasing, making sure the shipbid is free of any losses or any cost.

 (a) The shipbid has right to suspend or terminate the service and delete the information of the lot which has not been auctioned, if the lot has been uploaded to the shipbid before suspending or termination of service.

 (b) As for the lot that has started to bid but unclosed before suspending or termination of the service, the shipbid has the right to delete the sales contract and the relevant information of the goods or service.

 (c) The Shipbid cannot delete the lot which you have auctioned before the suspension or termination of the services, but it has right to inform relevant circumstances to your counterparty as well as suspense or termination of the service.

VIII、Privacy policy

The privacy policy will be published on the Shipbid and it will be amended from time to time. The privacy policy constitutes an effective part of this agreement.

IX、Law application 、jurisdiction and others

1. The validity, interpretation, modification, execution and disputes settlement of this agreement shall be governed by the laws of the mainland of People’s Republic of China. While in the absence of relevant laws, the general international business practices and /or industry practices should be referred.

2. This agreement contains general norms and special norms suits for the bidding lot you should abide by while using the shipbid (please refer to other agreements, auction rules and auction notice you signed with this platform for details). If the general norms are inconsistent or conflicting with the specific standards, the specific standards have priority.

3. Dispute object of which arising from this agreement shall be judged based on the platform which you are using the service platform. For example, the dispute arising during your use of the Shipbid, the Shipbid operator shall communicate with you and deal with it. Once the dispute arises, both you and the Shipbid operator agree to regard the local people's court of the defendant's domicile as the court of first instance to judge the dispute.

4. If there is any conflict between the Chinese version of this agreement and other language versions, the Chinese version shall prevail. The Chinese version of this agreement shall be the final effective version.