The Compulsory Enforcement Act Article 70

The enforcement court shall, upon the creditor's or the debtor's petition or on its own authority when it deems necessary, pre-determine a floor price for the auction objects, determine the deposit amounts, and order the bidder to pay the deposit before bidding. Any failure to pay it accordingly will render the bidding invalid. When determining the floor price, the enforcement court shall consult the creditor's and debtor's opinion, except when they cannot be notified or do not appear when the period expires.The auction is concluded after a bidder puts forward the highest bid and the number is shouted three times.Where the highest bidding price offered by the bidder is lower than the floor price, or, in the absence of a floor price, the creditor or debtor deems the bidding price inadequate and raises an objection, the person executing the auction shall not conclude the auction and the enforcement court shall determine another date for a second auction. However, where the creditor agrees to accept it at the determined floor price, the enforcement court shall turn it over to the creditor.The second auction of the auction objects pursuant to the preceding paragraph shall be auctioned to the bidder offering the highest price. However, where the highest bidding price is less than fifty percent of the floor price, or, in the absence of a floor price, the highest bidding price is manifestly inadequate, the enforcement court shall determine a price for the creditor to accept; where the creditor refuses to accept it, the enforcement court shall revoke the attachment and return the auction objects to the debtor.The debtor shall not bid for the auction objects.