General Rules of Tender – Liquidation Sale

(c)shall not be held responsible for any subsequent loss or damage caused to provisional winningbidder in question.11.4. Whereas the Agency shall endeavour within its powers to enable rapid background check, suchactivity is not in Agency’s control and consequently the Agency shall not be held responsible forany delay in conclusion of sale of tendered items or any subsequent loss incurred to theprovisional winning bidder related to duration of conclusion of background check.Article 12Payment of purchase price12.1. If background check does not reveal any evidence that would disqualify provisional winningbidder, the Agency shall communicate the result to him with the invitation to pay 75% (seventyfiveper cent) of the highest price in the designated account within 20 (twenty) working daysstarting from the next day upon receipt of notice by the highest bidder.12.2. If the highest bid price is 1.000.000 € (one million euro) or higher, the Agency shall invite thehighest bidder to make the payment of 75 % (seventy-five per cent) of the bid within 30 (thirty)working days starting from the next day upon receipt of notice by the highest bidder.12.3. If the highest bidder for any reason fails to pay 75% (seventy-five per cent) of the highest price inthe designated account within terms set out in article 12.1 (when bid price is lower than 1.000.000€), respectively in article 12.2 (when the bid price is higher than 1.000.000 €, or higher, then theAgency shall decide on waiving the highest bidder of his right to purchase tendered items andshall confiscate bid deposit.12.4. If the Agency disqualifies provisional winning bidder (as set out in article 1.3 of Rules of Tender) orprovisional winning bidder fails to pay 75 % of the highest bid price (as stipulated in article 12.3 ofRules of Tender) the Agency shall contact second highest bidder in compliance to article 12.5 ofRules of Tender.12.5. In case the subsidiary is not sold to the highest bidder the Agency shall contact in written thesecond highest bidder inviting him to purchase tendered items with the highest bid price. Secondhighest bidder must within three (3) working days upon receiving the request from the Agency,notify the latter in written whether he wishes to proceed with the purchase of tendered itemswith highest bid price. If the Agency does not receive such notice in written by the second highestbidder, then it shall have the right to treat his non-reply as refusal of Agency’s invitation topurchase tendered items. If the second highest bidder does not wish to purchase tendered itemswith highest bid price, the Agency in compliance to article 12.7 shall contact third highest bidder.12.6. Tendered items shall be sold to the second highest bidder respecting the following criteria:(a)(b)Within one (1) working day upon receiving the written notice by the second highest bidderwhereby he expresses the wish to continue purchasing tendered items with highest bid price, theAgency shall notify him of being declared provisional winning bidder.If the bid deposit is returned to the second highest bidder in compliance to article 8.3 then thesecond highest bidder, within two (two) working days starting from the next day upon beingL43A General Rules of Tender – Liquidation Sale Page 15