Online Auction Conditions

1. The Z Online Auction is organised by Stoeterij Zangersheide NV, a limited company with its seat at Domain Zangersheide, B-3620 Lanaken.

2. To participate in this auction implies that these auction conditions are explicitly acknowledged and accepted without reservations.

3. Stoeterij Zangersheide NV sells horses via its website on behalf and for account of third parties. Stoeterij Zangersheide NV acts as auction service. The auction committee acts as mediator between seller and buyer. Buyers must register themselves via the website zangersheide.auction before being allowed to participate in the Z Online Auction.

4. The horses are auctioned in the condition they have at the time of the auction.

5. The sale is realised under Belgian law by means of bidding and allotment to the highest bidder after payment of the settlement amount, whether or not to be increased by VAT. The auction is supervised by an auctioneer to be indicated by Stoeterij Zangersheide NV who will draw up an official report of the allotment.

6. Bids and payments are made in EURO. The auction proceeds according to the following bidding steps:

- From 500 euros - 20,000 euros per € 500, -

- From 20,000 - 50,000 euros per € 1000, -

- From 50,000 euros - 100,000 euros per € 2000, -

- From 100,000 euros per € 5000, -

7. The website will state an indicative closing time of the auction per specific lot. If, however, a bid is made in the last 5 minutes before the closing time of a lot, the auction time for that specific lot will be automatically extended by 5 minutes. The extended time will become the new indicative closing time.

8. In addition to the allotment price, the buyer will pay Stoeterij Zangersheide NV a percentage of 10% (excluding VAT) of the allotment price by way of commission and for the mediation in the auction costs. Stoeterij Zangersheide NV will give the buyer an invoice for these services, the amount of which is to be promptly transferred into the account of Stoeterij Zangersheide NV, previous to the delivery of the horse/embryo to the buyer.

9. In the auction a horse is allotted to the highest bidder. The settlement of the sales price by buyer is calculated as follows: the allotment price + 10% of such allotment price as buyer’s commission = net price, to be increased with any VAT possibly due, which constitutes the total settlement amount. By making a bid, the bidder undertakes to pay the settlement amount, unless a higher bid is made thereafter.

10. The settlement amount is immediately due upon allotment.

11. Any liability regarding the auctioned horses is immediately after allotment transferred to the buyer. After auctioning AND payment, buyer and seller will make arrangements for the delivery in mutual consultation. The delivery must take place within 30 days after the auction. After these 30 days, the seller is allowed to charge stable fee to the buyer. The delivery of the foals will be after weaning. Weaning of the foals is in mutual consultation between seller and buyer. The legal relationship exists directly between buyer and seller, with this understanding that the seller is liable to the buyer, with explicit exclusion of the auction organisation, for any shortcoming a horse may display after the auction.

12. The ownership of the horse is transferred to the buyer at the moment that buyer makes the payment due to the auction organisation.

13. Neither seller or buyer can derive any rights from the fact that the auction organisation selected the horse and, when deemed necessary, subjected the horse to a veterinary examination at its request.

14. The information provided about the horses is exclusively intended to give an impression of the qualities of the horses/embryos without pretending to be complete and without offering any guarantees. For the description of a lot in its catalogue, Stoeterij Zangersheide NV is purely led by the information about that lot provided by the seller or a third party. Stoeterij Zangersheide NV is not liable for any printing mistakes and/or material errors on its website and online catalogue.

15. If not discussed otherwise between the buyer and the seller after the auction and passed on to ZANGERSHEIDE the horse will be collected from the seller at the expense of the buyer. Delivery will only take place after ZANGERSHEIDE has informed the seller that the settlement amount as defined in article 9 of these auction conditions, has been deposited into the account number of Zangersheide. Upon delivery of the horse, the form ‘Proof of delivery’, will be completed and signed by the buyer. All horses are insured for a period of 30 days after the auction. Foals are insured up to 10 days after weaning, but no later than December 1, 2019. Frozen embryos are not insured.

16. In case of export of a horse, the buyer will submit valid transport documents within 3 months after the auction, on forfeiture of a penal sum consisting of the VAT as yet to be charged.

17. The buyer of an embryo or pregnant mare commits to register the born foal in Studbook Zangersheide vzw.

18. In the event of a dispute, related to the auction, should occur between the seller and the buyer, the auction committee will make an effort to settle this dispute by mediation. If any of the parties believes that no solution has been reached, the Court of Tongeren will be exclusively competent. To the relationship between the seller and the buyer Belgian law applies.

19. Any dispute arising from this auction and its consequences will be exclusively ruled by Belgian law with exclusion of the provisions of the Vienna Sales Treaty regarding international purchases/sales. The Court of Commerce of Antwerp, Tongeren department and the Court in first instance of Limburg, Tongeren department, are exclusively competent to take cognizance of any disputes.

20. In the event of a dispute only the Dutch text will prevail. The translation of these auction conditions into another language is purely informatory.

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