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Statement by Plaza Homes
In cooperation between Mother's Auction K.K. (hereinafter referred to as “MA
K.K.”), the company managing “Mother’s Auction Website” (the
original website in Japanese: www.mothers-auction.net/), and Plaza Homes
K.K. (hereinafter referred to as “PH K.K. ”), this online property
auction service is started to provide the actual property auction information
of Mother’s Auction in the English language. Using this service enables
users to participate in property auctions listed on Mother’s Auction
(hereinafter referred to as “MA Website”) through the Proxy
Bid Service (hereinafter referred to as “Proxy Bid”) by PH
K.K. Users shall agree to the following provisions prior to start of using
the service:
- All users of this Service shall agree to “Service
Terms”, “Mother’s Auction Rules”, and “Disclaimer
Statement” prescribed by MA K.K.
- All users wishing to participate in the property
auction shall be requested to produce the following information to
PH K.K. prior to actual participation:
- Full Name
- Address indicated on a printable identification
- Telephone Number
- Email Address *Necessary as primary contact
- Copy of Identification [Any of: driver’s
license, passport, Alien Registration Card (issued by Japanese
authority only) to be sent by facsimile]
- All users requesting a Proxy Bid to PH K.K. shall
complete the “Proxy Bid Authorization” form that MA K.K.
prescribes, and confirm the completed content. The original Authorization
form will be submitted to MA K.K., and MA K.K. will verify and determine
whether to accept the submitted document. The submitted paper may be
disapproved subject to the determination by MA K.K. In the event that
the document is approved and accepted, MA K.K. issues a unique Proxy
Bid ID code to PH K.K., and PH K.K. uses the ID to place a Proxy Bid
for the approved user.
- Disclosure of private information shall not be
limited to legal requests, and user’s private information may
be provided to a third party to the extent necessary to accomplish
the purposes aforementioned in this Statement.
- The Proxy Bid placement available through this
service is not a real-time transaction as is the creation day of this
Statement. In comparison to placing a bid through the Japanese original
auction service, a certain delay inevitably arises due to a prior confirmation
between MA K.K. and PH K.K. about placing such Proxy Bid by PH K.K.’s
staff on MA Website. Although PH K.K. takes every effort to minimize
such delaying time, PH K.K. disclaims any and all responsibility for
user’s physical or economical loss which may be incurred by such
delay.
- The standard time that MA Website adopts is that
of MA Website server clock time.
- MA Website’s data analysis shows a fact
that bid amounts tend to rapidly rise in final minutes just before
each end time. To effectively respond to such bid-up case, PH K.K.
will obtain a prior consent from a bid-wishing user about increasing
unit and limit (meaning a cap) in raising the bid amount for potential
bid-up. MA K.K., the webmaster of MA Website, defines such outbidding
unit in bid amount as JPY100,000. All bid-wishing users of PH K.K.’s
Proxy Bid service shall agree that PH K.K.’s service adopts the
definition of MA K.K. for such outbidding transaction. In the event
of actual bid-up, PH K.K.’s staff places the Proxy Bid by the
consented unit amount until maintaining a high bid position but not
exceeding the consented limit, and this process will be repeated every
time another bid is placed, until reaching to the consented limit.
Notwithstanding the bid-up situation persists, PH K.K.’s staff
will stop this outbidding process as the bid amount reaches to the
consented limit.
- All sellers shall sell the listed property as
the auction ends with effective bid equal to the Irrevocable Selling
Price or above. In the event that an auction ends only with effective
offer price, the seller shall not be bound to ‘selling’ responsibility.
In such event, the offer winner’s right shall be limited to a
right to negotiate the purchase with the seller, and selling and buying
obligations arise only when the two parties agree on a resulting price
after negotiation.
- Excepting particular and acceptable reasons, such
as an inevitable cancellation by complying with law, the bid winner
or agreed offer winner as a purchaser shall cooperate with the seller
to complete necessary procedures to close the sale contract. In such
event, the purchaser shall assign PH K.K. to conduct all agent services
throughout the procedures.
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