Article 1) Definitions

1. “Exhibitor” means any company, entity or individual who submitted the registration application to participate in this exhibition event for the purpose of exhibiting.

2. “Exhibition” means “Busan International Machinery Fair 2019 (BUTECH 2019)" event.

3. “Organizer” shall mean "Korea Industrial Marketing Institute“.

Article 2) Participant's Application to the Exhibition Event

1. Application to participate in the exhibition event as exhibitor shall be submitted in the prescribed registration form to the Organizer.

2. Exhibitor shall pay initial 50% of participation fee as exhibition contract deposit to establish exhibition contract. However, in case organizer has oversold exhibition spaces or in case organizer decides that a particular applicant's item to be exhibited is not suitable for the event, organizer may refuse registration. Also, organizer, within 15 days from date of applicant's registration, may cancel the registration and refund contract deposit already paid-in.

Article 3) Allocation of Exhibition Spaces

1. Organizer shall have the authority to allocate exhibition spaces between participating exhibitors, according to the order of applications or by discretion. Exhibitor has no right to intervene.

2. Organizer shall have the right to change the position and size of exhibition space allocated to a particular exhibitor by mutual discussion at any time prior to commencement of exhibition build-up period. The exhibitor, unless there is an unavoidable cause to remain at the original allocated pace, agrees to cooperate with organizer's change requests.

Article 4) Management of Exhibition Spaces

1. Exhibitor shall manage its exhibition booth in the way to provide the best exhibition service, by exhibiting proper exhibit items designated on its participation registration and staffing the space with permanently stationed personnel.

2. In case exhibitor exhibits items un-identical with those designated on registration application, or not suitable for the exhibition event, organizer may immediately order to stop, remove and take out the items from the venue. In this case organizer will not refund participation fee and exhibitor shall have no right to claim for compensation for damages.

3. If necessary, organizer may limit a particular person's access to the exhibition venue. Exhibitor shall not transfer, resale to a third party or exchange, all or part of the exhibition spaces allocated with other exhibitors, without written consent from organizer in advance.

4. Exhibitor shall not affect alteration of the original state of the exhibition venue by painting, nailing etc. on floor, ceiling, pillar and wall etc. and shall compensate properly for damages to exhibition venues pursuant to restoration request by organizer.

5. Organizer may selectively limit particular exhibit items or prohibit act of exhibiting for the purpose of maintenance of orderly and safe management and prevention of behaviors susceptible to social criticism in the venue.

Article 5) Payment Terms of Participation Fee

1. Exhibitor shall pay in 50% of registration fee as exhibition contract deposit within 3 days from date of application. The remaining 50% shall be paid by March 31, 2019.

2. In case exhibitor fails to pay the second payment within due date, organizer may terminate the exhibition contract. In this case exhibitor shall have no right to claim refund the participation fee already paid.

3. In case exhibitor defaults in payment of various costs such as participation fee, technical assistance, organizer may create lien on the defaulting exhibitor's exhibit items until fully paid. All lien-related expenses shall be born by the defaulting exhibitor.

Article 6) Cancellation of Exhibition Contract by Exhibitor

1. In case exhibitor cancels all or part of the exhibition spaces contracted, exhibitor shall immediately inform to the organizer in writing.

2. In the event that exhibitor fails to use all or part of any space after participation registration and submission of exhibition contract, the following penalty will be put upon the exhibitor to be paid within 15 days of cancellation to the organizer. Participation fees already paid shall be taken for the penalty. Should that amount not be sufficient, the difference must be paid and any excess amount shall be returned.

- If the exhibitor cancels application of whole space by January 31, 2019 Organizer charges the penalty equivalent to 50% of participation fees(booth occupation), and 30% in case of reduction of exhibition spaces(no V. A. T).

- In case that exhibitor cancels application between February 1, 2019 and April 30, 2019 organizer charges the penalty equivalent to 80% of participation fees(booth occupation), and 50% in case of reduction of exhibition spaces(no V. A. T).

- It exhibitor cancels the application after May 1, 2019, organizer charges the penalty equivalent to 100% of participation fees (booth occupation), and 100% in case of reduction of exhibition spaces(no V. A. T).

3. Any refunded amount will not bear interest.

Article 7) Cancellation or Changes by Organizer

In case organizer cancels exhibition event, any and all participation fee already paid shall be refunded. However, the organizers may carry the deposit paid in over to the next exhibition event to the extent that such situation occurred by force majeure or due to any circumstances not within organizer's control. In this case, exhibitor has no right to claim compensation to organizer as a result of the carry over.

Article 8) Booth Installation and Exhibit Display

Exhibitor shall complete booth Installation, display of exhibit items by the date stipulated by organizer.

Article 9) Removal of Exhibits

The removal of the exhibits and booths must be completed by the date and time stipulated by the organizer. Exhibitor shall immediately reimburse the organizer against any costs, which may be caused by delayed removal.

Article 10) Security Guard, Risk responsibility and Insurance

1. Organizer shall arrange proper guards stationed in the venue for the interest of security for exhibitors and guests.

2. Exhibitor shall be held fully responsible for any damage incurred to organizer or other parties due to any fire, theft, loss or other accident which exhibitor has caused by intention or negligence. Exhibitors are also required to subscribe to all risks insurance policy on all exhibits etc.

Article 11) Fire Regulations

1. Materials used and installed in displayed structures shall be properly fire-proofed in accordance with the regulations of Korea.

2. The organizers have the right, should circumstances necessitate, make changes in the exhibitor's booth in the interest of fire control.

Article 12) Supplementary Regulations

If necessary, the organizer shall have the right to issue supplementary regulations in addition to those in the exhibition contract.

Article 13) Dispute Resolution

Any dispute arising hereafter between the organizer and the exhibitor concerning the true construction of this contract shall be settled in accordance with the Commercial Arbitration Rules of the Korean Commercial Arbitration Board.