XVIII. ESI Fohlenauktion

126 TERMS & CONDITIONS A. GENERAL I. The organiser of the auction is ESI Trading GmbH. ESI Trading GmbH auc- tions foals through an officially appointed and sworn auctioneer as leader of the auction. The exhibitor is the owner of the foal. II. At the time of the auction the foals listed in the auction catalogue will be publicly auctioned on behalf of and for the account of the exhibitor as seller within the meaning of §§383 Abs. 1 und 474 Abs. 1 BGB (German civil code). In the case of sale, the contract of sale of the foal is concluded between the exhibitor/seller and the successful bidder/buyer. III. The exhibitor accepts the auction conditions with the approval of the foal. By taking part in the bidding process, each bidder accepts the auction conditions. B. AUCTION I. The foals are offered in Euros, the minimum bid is 3.000,00 EUR. Foals will be sold to the highest bidder. Additional bids will only be accepted at a minimum of 200,00 EUR. II. In case of doubt regarding the validity of the fall of the hammer the auction can be continued or repeated. The filing of objections to the effec- tiveness of the sale must take place immediately, not later than the sale of the last foal of the auction. The effectiveness of the sale will be decided by a representative of the organiser, the auction manager and the auctioneer. C. BILLING, PAYMENT, TRANSFER OF OWNERSHIP I. The hammer prices are net prices. VAT will be levied on the sale price according to the nature of the seller and will amount to 0% (private sale), 10,7% (flat-rate farmer) or 19% (commercial horse breeder). In the auction catalogue, the corresponding VAT rate is disclosed for each foal. VAT is de- clared after notification by the exhibitor. ESI trading GmbH assumes no liability for this information. II. ESI Trading GmbH charges the buyer an auction fee of 6% of the ham- mer price plus 19% VAT. III. Against this background the settlement amount will be calculated as follows: Hammer price plus VAT Subtotal 1 ESI auction fee (6%) plus 19% VAT Subtotal 2 Insurance (2%) plus 19% insurance tax Settlement amount IV. The settlement amount is irrevocably assigned by the exhibitor to ESI Trading GmbH for collection. V. The settlement amount is due for payment immediately after the fall of the hammer. Payment must be made either in the auction office in cash or by cheque or by transfer to the ESI Trading GmbH account at the Volksbank. VI. The exhibitor remains the owner of the respective foal in accordance with § 449 BGB until the settlement amount has been paid to ESI Trading GmbH in full. In the case of payment by cheque or bank transfer, the trans- fer of ownership occurs at the time of the unconditional crediting of the settlement amount to the ESI Trading GmbH account at the Volksbank. VII. Should the buyer not pay the settlement amount within 5 working days (including Saturday) after the auction, the seller may rescind the contract of sale and otherwise sell the foal. The first buyer is liable for any reduced proceeds and is also liable for any damages against the organiser. VIII. The exhibitor irrevocably assigns to ESI Trading GmbH the right to sue to assert the sale price. D. TAKING DELIVERY AND TRANSFER OF RISK The buyer must take delivery of the foal at the latest 6 months after the bir- th of the foal. This is to take place at the residence of the exhibitor. Earlier acceptance of the foal by the buyer is possible in mutual agreement with the exhibitor. Until delivery of the foal is taken, the exhibitor bears the risk and maintenance costs, including expenses for veterinarians and farrier.