TERMS AND CONDITIONS OF SALE

This auction is subject to TERMS AND CONDITIONS OF SALE.

1. THE COMPANY
The Company, EUR-SEREE COLLECTING CO., LTD. and Pantavanij Co., Ltd., acts as agent between Vendors and Purchasers only and shall not be liable for any default of the Vendor or Purchaser.

2. REGISTRATION DOCUMENTS

2.1	Copy of official certified company registration document (for company).
2.2	Copy of Identification Card & residence registration OR passports (for person).

3. DEPOSIT

3.1	Bidder must produce cheque cashier cheque pay to “Eur-Seree Collecting Co.,Ltd.” for the sum of 500,000 (five hundred thousands Baht) for the deposit of E-Auction bidding.
3.2	Unsuccessful bidder may contact for the return of deposit 5 days after the result from Pantavanij Co.,Ltd. attn: Mr. Suppachai Panjasangworakun or Ms. Sarin Pirabul

4. STARTING PRICE

4.1	The auction lot will start at 20,000,000 Baht (twenty million Baht) inclusive of VAT, the price will include all the items listed on the tables page 125 - 129
4.2	Bidder must strictly act according to the regulation of E-Auction, details WORKSHOP and how to use E-Auction will be given by Pantavanij to all registered bidders.

EUR-SEREE reserves the right to decide the successful bidder and the decision is final.

5. PURCHASER’S PREMIUM
The auction lot is subject to a purchaser’s premium of 5% + 7% VAT on the premium.

For example:

Highest bidder	20,000,000	THB
Purchaser’s premium 5%	1,000,000	THB
7% VAT on purchaser’s premium	70,000	THB
Total purchase price	21,070,000	THB

6. REGISTRATION

6.1	Interest bidders may request for application form and registration from 16 – 27 March 2007 by summit documents in 2 and deposit in 3
6.2	Location of registration:- Pantavanij Co., Ltd. 16th Floor, Capital Tower, All Season Place, Wireless Road,Lumpini, Pathumwan, Bangkok 10330 Contact person: Mr.Supachai OR Mrs. Sarin Tel: (66) 2655 8000 ext.131, 122 Fax: (66) 2654 1423 Email: sarin_p@pantavanij.com

7. METHOD OF PAYMENT
The successful bidder may make payment by:-

7.1	Cashier cheque in the name of Eur-Seree Collecting Co., Ltd.
7.2	Cheque of banks with branches in Thailand in the name of Eur-Seree Collecting Co., Ltd.
7.3	Banking transfer in the name of : EUR-SEREE COLLECTING CO., LTD. BANGKOK BANK PLC. CO., LTD. Branch Rajawat Swift code: BKKBTHBK A/C # 1460938051

Please note that all banking charges must be solely borne by the Purchaser. No oversea personal cheque will be accepted.

8. REMEDIES for NON PAYMENT
If the Purchaser fails to make payment in full within 7 days of receipt of invoice and by a purchaser overseas within 14 days of receipt of invoice, or such longer time as shall be agreed in writing between THE COMPANY and the successful bidder, the Company shall be entitled to exercise one or more of the following rights or remedies:

8.1	to hold the defaulting Purchaser liable for the total amount due and to commence legal fees and costs to the fullest extent permitted under the Thai law;
8.2	Each lot shall remain the property of the Vendor, until paid for in full, but shall be at the Purchaser’s risk from the fall of the hammer. Each lot shall be paid in full before delivery

9. INVOICE WITH VAT
Eur-Seree Collecting Co., Ltd. will issue invoice with VAT as follows:-

9.1	Invocie with VAT of the total won (inclusive 7% VAT)
9.2	Invocie with VAT of the Purchaser’s premium.