Auction Terms

1) Washington Events bv, organises annually on the last Saturday Of October The Equine Elite Auction (hereinafter: 'the auction') at Paardensportcentrum "Stal Korenbloem" in Weert.

2) Washington Events bv cannot in any way be deemed as the legal seller of any horse. The sale comes about between the owner/entrant of the auction horse (the seller) and the bidder/purchaser. The details of the seller are stated on the contract of sale and can also be requested from the Auction Office at any time prior to the auction.

3) These auction conditions apply primarily to the relationship between Washington Events bv and the bidder/purchaser. Bidder/purchaser also includes any legal successors/assignees.

4) Participation in the auction shall be deemed as acceptance of these auction terms and conditions to the exclusion of any terms and conditions to be applied by the participant himself.

The auction:

5) The horses will be sold without action or reaction, in the condition that they are in at the time of award.

6) The auctioneer has the power to change the order of the horses to be sold or refuse persons as bidder/purchasers without giving reason.

7) Bidders/purchasers shall be deemed to be fully capable of acting and in full awareness. Each bidder/purchaser shall be deemed to have bid for himself and shall be bound by his bid until a higher bid is finally accepted. A bidder/purchaser shall be fully liable in addition to his principal, if any, for failure to fulfil his obligations.

8) Registered horses will be sold by auction. If no bid comes, the horse is not sold. Bidding stages will be determined by the auctioneer and made clear to the public prior to the auction.

9) The risk regarding the horses, including but not limited to damage to and caused by the horses, shall immediately pass from the seller to the bidder/buyer at the time of award. As long as Washington Events bv has not received full payment from the bidder/purchaser, the seller shall remain the legal owner of the horse.

10) The bidder/purchaser shall sign a written purchase agreement immediately after the allotment under presentation of identification. If the purchase agreement is not immediately presented to the bidder/purchaser for signature, he should report to the Auction secretary of Washington Events bv immediately after the auction. Bidding starts from €10,000.-

Information on the horses:

11) Washington Events bv has attempted to compile the catalogue as accurately as possible. The information on the pedigrees and/or the horses is aimed at giving an impression of the quality of the horses, without pretending to be complete and without giving any guarantees. Interested parties are advised to conduct their own research into the accuracy of published data.

12) A copy of the veterinary report as well as X-rays may be inspected upon request prior to the auction and on the day of the auction. The contents of the veterinary report, X-rays and any other veterinary report provided by Washington Events bv shall be binding on Washington Events bv and bidder/purchaser.

13) The bidders/purchasers are obliged to provide information regarding their financial standing at Washington Events bv's request, submitting documents to Washington Events bv showing such standing. By requesting to participate in the auction, the bidders/purchasers authorise Washington Events bv to obtain information from third parties regarding their financial standing.

Costs and Payment:

14) At the auction, the bidder/purchaser shall pay the purchase price plus 8% premium (excluding VAT) on the purchase price (including VAT if applicable), in cash to Washington Events bv Auction office, in euros without any discount or deduction.

15) Only with prior written permission from Washington Events bv shall a bidder/purchaser have the right to pay by bank transfer, whereby the amount due must be credited to the account number of Washington Events bv within 7 days after the auction. Washington Events bv shall in such case oblige the bidder/purchaser to have the horse insured with immediate effect and at the bidder/purchaser's expense.

16) If the bidder/buyer defaults on this, Washington Events bv shall have the power to immediately re-auction the horse, whereby the bid of the original bidder/buyer shall not be accepted again. The original bidder/purchaser is obliged to pay Washington Events bv the difference between his bid and the final lower purchase price, as well as the costs of re-auction. The bidder/purchaser has no claims in case of higher proceeds after re-auction.

17) Washington Events bv shall have the power to revoke the consent it has given at any time if, in its opinion, there is doubt about the financial soundness of the bidder/purchaser or the security provided by him.

18) Payment to any other than Washington Events bv, does not release the seller or bidder/buyer from payment obligations against Washington Events bv.

19) If Washington Events bv has not received complete payment from the bidder/purchaser within 7 days after the auction, the bidder/purchaser is legally in default. The bidder/purchaser shall then, in addition to the other amount owed by him (sub 14), owe to and for the benefit of Washington Events bv an additional compensation in the amount of 12% (including VAT) of the purchase price (including VAT). The total amount due by the bidder/purchaser under his payment obligations shall be increased by the statutory interest, to be calculated from the auction until the time of complete payment.

20) If Washington Events bv has not received complete payment from the bidder/buyer within 7 days after the auction, Washington Events bv shall further have the authority (but not the obligation) without notice of default on behalf of the seller and without his consent to consider the sale as dissolved. The seller and the bidder/buyer shall in that case remain bound towards Washington Events bv to fulfil all their payment obligations mentioned in these auction conditions, as far as these concern compensation for the benefit of Washington Events bv.

21) If Washington does not dissolve the purchase then Washington is entitled to collect the purchase price and all additional costs of legal assistance, stabling/training costs and interest on behalf of the seller whether or not by means of legal proceedings under Dutch law. The seller assigns all his claims on the buyer to Washington Events bv.
22) If the bidder/purchaser is in default regarding its (payment) obligations, all (extra)judicial costs incurred by Washington Events bv as a result shall be borne by the bidder/purchaser, with a minimum amount of € 1,000.00 including VAT.

Vetting of the horses for auction:

23) All horses have undergone a veterinary examination prior to the auction. A copy of the veterinary examination as well as any X-rays are available for inspection for several weeks prior to the auction. All x rays can be forwarded per e-mail upon request. A veterinarian will be present before and during the auction to provide clarification of the veterinary examination.

24) A potential buyer has the right, at his own expense, to have one (or more) horses examined and to have additional examination(s) carried out by his own appointed veterinarian prior to the auction. If, despite having been given ample opportunity to do so, the buyer omits to have his own examination or inspection performed, the consequences thereof shall be at the expense and risk of the buyer in the broadest sense of the word.

Issue and removal of horses:

25) Immediately after award, the bidder/purchaser is responsible for the care of and liable for damage to the horse and/or caused by the horse.
26) If and only after the bidder/purchaser has fully complied with his/her (payment) obligations, including payment obligations that involve compensation for the benefit of Washington Events bv, the bidder/purchaser can dispose of the horse, whereby he/she will receive the necessary documents. Washington Events bv is never obliged to surrender the horse if the bidder/purchaser has not fully met his (payment) obligations. After a period of 96 hours, unless expressly agreed and confirmed in writing, the buyer/bidder shall owe Washington Events bv a fee of € 92 euro per day (ex VAT) due to training & stabling costs.

Stable vices and defects:

27) If the bidder/purchaser observes problems in the horse purchased, being cribbing, weaving, Wind sucking or any form of physical defect then the bidder/purchaser shall notify Washington Events bv Bv in writing within 7 days of the auction, giving as detailed a description as possible of the nature of the problem. Then Washington Events bv will stable the horse at a location to be determined by Washington Events bv and have the horse examined by a veterinary surgeon to be appointed by Washington Events bv for the vices or defect as described by the bidder/purchaser. The said veterinary surgeon shall determine the nature of the vice or defect in a binding manner. If, in the opinion of that veterinary surgeon, the vices or defects described by the bidder/purchaser are present, the bidder/purchaser shall have the right to cancel the sale.
28) If the bidder/purchaser does not report said stall vices or (other) defects within the aforementioned period of 7 days after the auction in the aforementioned manner and/or if the aforementioned veterinary surgeon does not establish the stall vices or (other) defects, the bidder/purchaser's right to rescind the sale or invoke a lack of will shall lapse.

Dissolution and annulment:

29) If the sale is legally dissolved or destroyed by the bidder/purchaser or the seller, the bidder/purchaser shall remain obliged to fulfil all his payment obligations against Washington Events bv mentioned in these auction conditions, insofar as they concern compensation for the benefit of Washington Events bv. The sale may be dissolved or annulled with due observance of the relevant statutory provisions in force, insofar as these auction terms and conditions do not deviate from them in a legally valid manner.

Liability:

30) Although Washington Events bv strives to provide information that is as complete and accurate as possible, Washington Events bv is not liable for the accuracy of the information in the catalogue, the information given at the auction site and the information during the auction.
31) Washington Events bv is not liable for the accuracy of the information in the veterinary report, the veterinary information given at the auction site and the information during the auction. To this end, the buyer/bidder should contact the veterinarian.
32) Washington Events bv is not liable for any damage suffered by and/or to persons, goods or horses prior to, during or after the auction.
33) With regard to the horses, Washington Events bv does not take out insurance on behalf of the bidders/purchasers. Since bidders/purchasers participate in the auction entirely for their own account and risk, Washington Events bv advises them to take out said insurance themselves.
34) Washington Events bv is not liable for failures of third parties.
35) Washington Events bv excludes liabilities, except in case of intent or gross fault of Washington Events bv.
36) Anyone who causes damage to (goods of or used by) Washington Events bv is liable for such damage.
37) Bidders/purchasers are liable for all damage caused by them. The bidders/purchasers indemnify Washington Events bv against any claims by third parties (including other bidders/purchasers, or visitors or exhibitors) in this respect.

Other:

38) If, with regard to the transfer of auctioned horses to another Member State of the European Union, invoicing is carried out at the zero VAT rate at the request of the bidder/purchaser, the bidder/purchaser undertakes to fulfil all necessary conditions to that effect in order to achieve a legally valid intra-Community transaction.
39) If, with regard to the transfer of auctioned horses to a country outside the European Union, the VAT zero rate is invoiced at the request of the bidder/purchaser, the bidder/purchaser undertakes to fulfil all necessary conditions to that effect in order to achieve a legally valid export transaction.
40). In case application of the zero VAT rate turns out not to be possible due to whatever circumstances (afterwards), the bidder/purchaser shall at that time still owe an amount equal to the amount that would be due if there was a domestic delivery of the horse concerned. However, at the request of Washington Events bv, the bidder/purchaser shall be obliged to immediately pay the aforementioned amount to Washington Events bv. Then repayment thereof shall only and only take place if the bidder/purchaser has fulfilled Washington Events bv conditions (sub 38/39). The bidder/purchaser shall be liable and shall in any case indemnify Washington Events bv for all damages resulting from the failure to comply with the conditions (sub 38/39). In addition, the bidder/purchaser is liable for all (extra)judicial costs incurred by Washington Events bv, with a minimum amount of € 1,000.00 including VAT.

Conversion:

41) If one or more of the provisions mentioned in these auction terms and conditions should be or become invalid, the other provisions shall remain valid. In that case, a new provision shall take the place of the said invalid provision, which shall correspond to the said old invalid provision as far as possible as regards content, scope and purpose.