Confirmation of Account Statement

The following day after the Auction Close, JEN faxes an account statement indicating the balance after deducting the designated costs (Commission, fees and charges) from the Sales Price (highest bid price) of the Equipment. Consigner confirms the contents of the account statement and fills in the Consigner's Name and puts his/her seal and sends it back to JEN's office by FAX. This serves as Consigner's Invoice to JEN and JEN will make payment according to the Settlement Rules.