All the staticinformation about the ships are for reference only, bidders can makeinspections for the ship at the prescribed location within the announcementperiod.
II. Qualifications and Registration ofBidders
Any corporation outside The People's Republic of China with full capacityfor civil conduct and lawfully existing may participate in this bidding.
Interested bidders shall visit https://www.gse020.com/#/ to register a member account and become a qualified bidder. The followingdocuments are required to upload in the process of applying for a bidding:
1. Voucherof deposit payment from the paying bank.
2. Identitydocuments of the bidder: scanned copies of Certificate of Incorporation,passport copy of Director and Power of Attorney are needed.
3. IDdocuments, Power of Attorney and other files approved by GSE and the EntrustingParty are needed for a broker commissioned to participate.
4. All time stated in this announcement are Beijing time.
Deadline for online bidding registration: 16:00 January 7, 2021.
A qualified bidder refers to abidder finish the following steps and be fully aware of, accepting andcomplying with the contents of this announcement and the measures for theimplementation of the bidding of GSE:
a) Finish registration of member account
b) Pass the identity audit
c) Remit the deposit and upload the payment voucher
d) Deposit received by escrow account of GSE
e) Pass thebidding registration audit before 16:00 on January 11, 2021 in China
Bidders shall remit the auction deposit of USD1,505,000.00 tothe account of GSE before 12:00 on January 7, 2021.Subject to the payment receive time; the deposit payershould be consistent with thebidder’s name.In the event that the deposit is remittedfrom a third party account on behalf of the bidder, the name of the third partyshall be consistent with the name stated in Power of Attorney. Any bidder remitted auction deposit shall be deemed to befully aware of and accepting all the known and unknown defects of the ship.
Subject to the time of receipt ofthe account, any bidders failed to remit the auciton deposit as requiredwill be deemed as invalid bidders. Thebid winner is called the“Purchaser”. The auction deposit paid by the Purchaser will beautomatically converted into a Ship Deposit after “Memorandum of Agreement”(MOA) is signed. Unsuccessful bidders’ Auction Deposits will be refundedin full amount within 10 working days without interest.
IV. Bidding Time and Rules
The whole bidding process isconsisted of a fixed time bidding and the extension time bidding. The fixedtime bidding:16:00 to 16:30, January 12, 2021，theextension time bidding begins from 16:30. The last valid bidder shall be the “Purchaser”.The termination of this bidding come in toforce when no bidder bids before the countdown runs out.
This online bidding is organized at https://www.gse020.com/#/boatbiddingby GSE. The first bid shall not be lower than the starting price, the incrementof this bidding is USD20,000.00. The countdown shall automatically restart from2 minutes when a bidder bids in the extension time bidding stage. At the end ofcountdown, the latest bidder who offers the highest price shall become thePurchaser.
The server time ofhttps://www.gse020.com/#/boatbidding is deemed as the official time of thisbidding. GSE and the Entrusting Party assume no responsibility when reasonslead to the failure of bidders participating in the bidding due to personaltime inconsistency, terminal device or network failure.
GSE and the Entrusting Party assumeno responsibility when website anomaly and suspension of bidding occurs due toforce majeure or (and) the cause of third party. GSE will release a supplementannouncement for the suspension of bidding. A new bidding announcement will bereleased after the website service comes back up.
V. After the end of the bidding, the Purchaser must sign the “PurchaseConfirmation” by Email on the day when the result of bidding is generated. ThePurchaser must sign the “Memorandum of Agreement” with the Entrusting Party assoon as possible. In case of the Purchaser refusing tosign the “Purchase Confirmation” and (or)“Memorandum of Agreement” shall bedeemed as the behavior of default, the Purchaser must compensate for the loss,assume legal liability and the deposit will not be refunded. GSE has the rightto reorganize the bidding. In the case of re-bidding, the original Purchasershall pay the commission for the first bidding. Should the price of are-bidding be lower than the price of the original bidding price, the originalPurchaser shall pay for the balance.
Agreed by theEntrusting Party, the Purchaser will pay the commission of this bidding at 1%of the final price (subject to the final USD bidding price), the payment mustbe made to GSE within 10 working days from the date of signing the “Memorandumof Agreement”.
The Entrusting Partymust submit ship documents and pay the attestation charges of the ship toGuangzhou Shipping Exchange within 3 working days after the delivery of theship. Guangzhou Shipping Exchange will issue the ship transaction invoice andthe ship transaction certificate.
Aftersigning the “Memorandum of Agreement”, the Purchaser shall pay the fulltransaction price in accordance with the terms of the MOA. Overdue payment willbe deemed as default. The Purchaser shall not be entitled to demand the refundof the deposit.
VIII. Memorandum of Agreement
The “Memorandum of Agreement” isbased on “Memorandum of Agreement Norwegian Sale Form 2012” (NSF’2012), alltrading terms state in this announcement and adding other terms both partyagreed with. The Purchaser shall pay the residual balance and other relatedcharges before signing the PODA.
After thedelivery of the ship, receiving the PODA and the formal notice of remittance，GSE will remit the full amount of theship without interest to the Entrusting Party’s account within 3 working days.
IX. The Entrusting Partywill not issue invoice of the ship and the remaining fuel. All taxes and feesarising from the transfer shall be borne by the Purchaser.
X. The remaining fuel isnot included in this bidding. The amount of fuel shall be jointly measured bythe Entrusting Party and the Purchaser on the day of delivery. The value of theremaining fuel is subject to the invoice price of the latest bunkering of thisship. If the invoice price could not be provided, both parties agree that thevalue shall subject to the Platts Singapore price on the day of delivery of thevessel. The Purchaser shall remit the value of remaining fuel in full amountdirectly to the Entrusting Party's account on the delivery day.
XI. All expenses andcustodial responsibility related to the ship is for the Entrusting Party’saccount before the signing of PODA. After signing this PODA, all the expenses,custodial responsibility and risks of the ship will be borne by the Purchaser.
(a) This ship is scheduled to take dock specialinspection on January 27, 2021. The delivery shall be completed before thisdate as far as possible; if the delivery is not completed before the date, theexpenses of dock inspection and special inspection shall be borne by the Purchaser,and the entrusting party shall only assist in arranging the docking beforedelivery.
(b) The Vesselto be delivered in entrusting party’s option at Singapore Japan range(Includingbut not limited to Singapore ,Japan ,South Korea and China ).
All description, video and pictures provided about theship is for reference only, GSE does not constitute any guarantee for the ship.
The Entrusting Party sells this ship basis of “as is,where is”, bidders can organize ship inspection at their own expense within theannouncement period. If bidder waive the right of inspection isdeemed as fully understood the ship status. Abidder remits deposit to GSE is deemed as fully understood all thecircumstances of the ship, including but not limited to certificates, statusand all known and unknown defects of the ship. Bidders shall not demur to thequality and defects of the ship with any reason.
Obstructing otherbidders from bidding, manipulating or monopolize the bidding price and collusionof bidders are prohibited. Once discovered, the bidder will be disqualified,investigated, and affixed legal liabilities.
GSE Hang Qing BaoAuction Co., Ltd., the Entrusting Party and the Winning Bidder may negotiatematters not mentioned herein.
This announcement is described in both Chinese andEnglish. If any discrepancy occurs betweenthe two languages, the Chinese version shall prevail.
Inspection Time: 11th December,2020 —7th January, 2021(Beijing Time),
during the time of the ship berth at the port.
Inspection Contact: Mr. Zhou +86 15918795024 zry@gse.net.cn
Inspection Location: Berth ports during the announcementperiod.
Delivery Location: In entrusting party’s option atSingapore Japan range (Including but not limited to Singapore, Japan, SouthKorea and China).
Mr. Zhou +86 15918795024 zry@gse.net.cn
Caroline +86 18613076955 by@gse.net.cn
Ms. Qin +86 13802779424 qiny@gse.net.cn
Source: Guangzhou Shipping Exchange
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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