Article 1
This Conditions of Business (hereinafter referred to as the "Conditions") are made in accordance with the Auction Law of People's Republic of China, other relevant laws, regulations and the Articles of Association of the Company with reference to international general practices.

Article 2
We organize auction pursuant to Chinese laws, regulations and policies. Seller, Bidder, Buyer and any other concerned parties participating in our auction should carefully read and abide the Conditions and be liable for their actions at auction.

Article 3
Organizer of the auction has the right to interpret this Conditions at its own discretion to the particular and other matters concerned.

Article 4
All the articles in the Conditions are interpreted and implemented in accordance with relevant laws of the People's Republic of China. If any dispute arises from participation in the auction pursuant to this Conditions, all concerned parties shall submit such dispute to a Chinese court or a Chinese arbitration commission for arbitration.

Article 1
The Bidder shall register to organizer and pay the later a certain amount of bidding deposit and go through bidding formalities and get a bidding number before the Auction Date. The bidding deposit will be returned to the Bidder who reach no deals at the auction. The bidding deposit will automatically turn into credit deposit for the Bidder who conclude a transaction at the
auction.

Article 2
The Bidder can raise its bidding number to respond the auctioneer or respond to the auctioneer by speaking out its bidding price, which must the integral times of price ladder decided by the auctioneer. Once the Bidder's bidding is accepted, the Bidder cannot withdraw its bidding. The Bidder's offer will lapse when other bidders offer higher biding price.

Article 3
The auctioneer should repeat the last bidding price for three times and if no other bidders offers higher price than this and the bidding price is not below to the Reserve, the auctioneer then can strike the hammer to conclude the transaction.

Article 4
If the auctioneer's three enquiries meet no respond from the Bidder, the Lot will be regarded as a deal cannot be closed.

Article 5
After the auction finishes, the Buyer should sign the sale contract of the Lot with the organizer and pay 20 percent of the business volume as deposit before it quits the auction.

1 CTE 2004 would choose 15 name brands of black tea, green tea, flower tea, oolong tea and specific tea to recommend to the auction.
2 Each participanting productor should provide international certifications.
3 Tea samples should be provided for the auction.

Article 1
Company bidder should provide business license, ID card of the attorney and authorized letter of attorney to the organizer. A natural person should provide his/her ID card to the organizer.

Article 2
Any person who bids shall be deemed as principal, unless the Bidder notices the organizer that it is the agent of a principal and subject to our approval before Auction Date.

Article 1
Starting price: the price of the auction Lot list in the auction brochure on which the bidding start.

Article 2
Reserve: It means the price below, which the Lot cannot be sold. The reserve will not be released to public by the organizer. Bidders should estimate the price and work out the highest price that they can afford.

Article 3
Hammer Price: It means the amount of the highest bid accepted by the auctioneer in relation to a Lot. When the auctioneer confirms the highest bid by striking his hammer or in any other public manners, the Bidder with the highest bid shall be the Buyer of the Lot and the sale contract concerning the Lot between the Seller and the Buyer shall come into effect immediately. Nobody has the right to change the auction or withdraw from it, otherwise the party will be liable to the legal responsibility whereafter. If the Buyer breaks the contract, the auctioneer has the right to re-sell the auction Lot. The former Buyer should pay the commission for itself at the auction and attorney. If the new hammer price is lower than the previous one, the former should make up for the balance.

CTE 2004 organizing committee organize expert and government official panel to confirm the quality of tea.

The organizer sells the auction Lot based on the status in quo and will not be liable to the quality of the auction Lot. The Bidder and Buyer should judge the sample quality by themselves before the auction date. The auction brochure will list the names, size, and texture of the auction Lot but not guarantee the quality of the Lot.