Auction terms and conditions
The European Breeders Trust AG is the organizer of the auction and sells the embryos or Embryo rights (or horse) in its own name and to the account of the seller. Purchase contracts are valid exclusively between the seller and the highest bidder. By participating in the auction the bidder declares his acceptance of the auction rules. All information about the auction embryos (and related horses) is given to the best of our knowledge. However, the organizer does not take over any responsibility for the correctness and accuracy of the descriptions on the internet (e. g. our websites)or for other information offered. Possible mistakes do not entitle the highest bidder to withdraw from his or her obligation to buy the embryo and pay the full purchase price, as the buyer had sufficient time to inform himself or herself about the offered lot.
The organizer guarantees that all embryos offered for sale meet the registration criteria of the World Arabian Horse Organisation (WAHO). The total costs of obtaining the embryo, the transport and accommodation of the donor mare and recipient mare as well as the registration of the embryo including the export certificate to the respective country of the buyer must be paid by the buyer himself. The currency in the bids is always EURO. The European Breeders Trust AG is not responsible for errors during the bidding process. Any doubts about the validity of the highest bid must be mentioned/explained immediately. The auction can be reopened and continued at the organizer’s discretion. This is permissible even if the declaration of sale has already been signed. All disputes arising during the auction will be settled by the organizer. This decision is binding to all parties and does not entitle them to claim damages and/or compensation for costs.
Examples of these disputes are: 2 or more bids are made for the purchase of an embryo (rights) (or horse); misunderstandings about the distribution of horse or land duty fees and conditions; obvious mistakes made by the organizer; technical problems when bidding over the internet / with the controller. The auctioneer has the right to reject a bid at his own discretion. If a dispute arises between 2 or more bidders, the auctioneer may decide equally or immediately put the lot up for sale again and sell it to the highest bidder. The auctioneer’s decision is final and binding. Should the buyer contradict to the announcement of sale, the horse can be auctioned a second time. In this case the first buyer will be held responsible for any loss of proceeds.
The purchase amount will be charged to the buyer after the end of the online auction. There are no additional fees to the hammer price. In addition to the knock-down price, the price will be increased by the currently valid value added tax (VAT) of 16 %. The VAT will be refunded to the purchaser who is in possession of a VAT identification number of the European Union and confirms the intra-community delivery of the embryo purchased at auction. Anyone who can present export documents confirming the export of the purchased embryo from the territory of the European Union is exempt from paying the value added tax (VAT), currently 16 %.
The bidder places bids on his own account if he/she does not indicate the name and address of his/her client. The change of ownership takes place after full payment of the sales price. No claims shall entitle the buyer to retain the sales price or part thereof. If the seller sells an embryo, younger than 42 days, the seller is obliged to refund 66% of the purchase price paid until the embryo is confirmed by a veterinarian after 42 days in the recipient mare. If the seller sells an embryo right and is not able to create the embryo within 12 months, the seller will refund 66% of the purchase price paid. The guarantee that the embryo is confirmed by a veterinarian in the recipient mare after 42 days is also valid in this case.
Payment is made after the sale in cash or by bank transfer. The organizer is entitled to accept the payment and if necessary to sue the buyer with regard to the sales price plus fees. The organizer is only liable in case of intent or extreme negligence. The organizer reserves the right to change the course of the program. This includes the right to offer individual lots for auction together, individually or not at all. Every buyer of embryos or embryo rights is strongly recommended to insure the purchased embryo after 42 days confirmed in the recipient mare, as any guarantee of the seller expires at this point of time.
These terms and conditions and any lawsuit or action subject to them shall be construed in accordance with German law and any lawsuit or action arising out of or in connection with or arising out of these terms and conditions shall be governed by and construed in accordance with German law and the law of each jurisdiction without regard to the jurisdiction in which such lawsuit or action is brought. The place of jurisdiction is Kempten, Germany, with the right of the prevailing party to receive reimbursement of the incurred attorney fees, charges and costs.