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The Rules of Maritime Arbitration of the Japan Shi
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         THE RULES OF APPRAISAL, CERTIFICATION, ETC.,        
               OF MARITIME MATTERS              
                                       
  [Section  1]  Any person desirous of obtaining from the Japan  
  Shipping Exchange, Inc., a written opinion, advice, appraisal, or  
  certificate relating to the ownership (including joint-ownership) of a  
  ship, an agreement of demise, charter, or consignment of a ship, or  
  any other maritime matter such as carriage of goods by sea, bills of  
  lading, marine insurance, sale of a ship, building or repair of a  
  ship, salvage, average, etc., may file with the Exchange a signed and  
  sealed written application showing the subject matter of the aapplica-  
  tion.                                  
                                       
  [Section  2]                              
                                       
  (1) Upon receipt of an application referred to in the preceding  
  section, the  Maritime  Arbitration  Commission  shall  decide  
  whether or not it should accept the same, and if it is accepted, the  
  Commission shall cause the thing applied for to be prepared by such a  
  person or persons as it shall appoint from among those on the Panel of  
  Members of the Maritime Arbitration Commission (or other persons in  
  case of special need).                          
                                       
  (2) The decision of the Maritime Arbitration Commission referred to  
  in the preceding sub-section shall be notified to the applicant in  
  writing.                                 
                                       
  [Section  3]                              
                                       
  (1) The written appraisal, expert opinion, or certificate shall  
  be in the  Japanese  language, but it may, according  to the  
  request of the applicant, be made out in the English language  
  or in both the Japanese and the English languages.            
                                       
  (2) When a document is made out both in Japanese and in English, both  
  versions shall be regarded as authentic texts. But in case of any  
  difference of interpretation between the two versions, the Japanese  
  version shall be regarded as conclusive.                 
                                       
  [Section  4]  The written appraisal or certificate shall be signed  
  by the appraiser(s), expert(s) or certifier(s) respectively and the  
  Chairman of the  Maritime  Arbitration  Commission (or a person  
  authorized by him to sign on his behalf); provided that the written  
  appraisal of the price of a ship shall be signed only by the Chairman  
  of the Maritime Arbitration Commission (or a person authorized by him  
  to sign on his behalf).                         
                                       
  [Section  4]  bis. An applicant, upon receipt of a notice of the  
  acceptance of the application according to section 2(2), shall pay to  
  the Exchange an engagement fee of 20,000 yuan. An engagement fee once  
  paid shall not be returned for any reason.                
                                       
  [Section  5]                              
                                       
  (1) An applicant, upon receipt of a notice from the  Exchange  
  that  a  written  appraisal, opinion, or  certificate  shall be  
  delivered, shall pay to the Exchange a fee therefor and such expenses  
  as shall have been defrayed by the Exchange in regard to the  
  appraisal, expert opinion, or certification.               
                                       
  (2) Notwithstanding the provision of the preceding sub-section, the  
  applicant shall pay in advance to the Exchange part of the fee for  
  appraisal, expert 

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