1. This auction is organised by BVBA FLANDERS FOAL AUCTION, a company under Belgian law, of which the address of the registered office is Overes 22, 3990 Peer in Belgium, registered in the CBE register under number BE 0632 503 544. The auction committee functions as an intermediary between buyer and seller.
2. FLANDERS FOAL AUCTION functions as an auction service. The organisation, preparation and execution are determined by FLANDERS FOAL AUCTION only. This means among other things that FLANDERS FOAL AUCTION determines the procedures prior to and during the auction and has the authority not to auction one or more lots or to change the composition of lots, not to accept an offer and to declare an offer void, to suspend an auction, to resume, to extend or to cancel or to take measures to her understanding.
3. If one takes part in this auction, one agrees to these auction terms and agreements explicitly and unconditionally.
4. During this auction, embryos are sold that are in surrogate mares in Europe.
5. Biddings and payments are made in EURO.
6. The sale occurs by auction to the highest bidder by payment of the purchase price and expenses. The purchase is made according to Belgian law. An auctioneer collects the biddings on site and brings the highest bidder into contact with the auctioneer in Belgium. The auction is under surveillance of an auctioneer who makes minutes of the allocation. When one participates in an auction, it does not mean that a lot will be sold to a bidder unreservedly.
7. The sale is done according to Belgian law. Any disputes shall only be settled by the courts of the district of Limburg, department Hasselt.
8. The buyer pays Flanders Foal Auction bvba ten percent (10%) exclusive VAT on top of his purchase price for the sale expenses, which are previously payable by Flanders Foal Auction bvba. It is brought to the buyer?s attention that in addition to the abovementioned fixed expenses, the buyer also has to pay possible VAT on the purchase sum. If this is the case, the seller shall create an invoice.
9. The purchase sum and expenses are payable to Flanders Foal Auction bvba after no more than five (5) days. If the purchase price, the auction costs and possible other costs concerning the buying and selling of the embryo are not payed for within five days, then FLANDERS FOAL AUCTION may dissolute the selling legally and without any previous notice. The lot then remains property of the original seller.
10. In the description of a lot in her catalogue, FLANDERS FOAL AUCTION is dependent on the information given by the seller or others. FLANDERS FOAL AUCTION is not responsible for possible misprints or material errors in the auction catalogue. There can be no full certainty about the sex of the embryo; the purchaser bears the risk.
11. The breeder/seller remains responsible for the embryo and surrogate mare until delivery. The delivery will be made in Belgium and cannot take place until the purchaser has paid the purchase price, the auction costs and possible other costs. The buyer has the possibility to insure the embryo and surrogate mare for the period between purchase and delivery. The buyer commits himself to pick up the foal/embryo at the seller?s place, if not agreed otherwise. By disagreement, delivery takes place in Belgium.
12. If the buyer pulls out of the purchase, Flanders Foal Auction bvba is entitled to immediately re-auction the embryo without accepting the original bidder/buyer?s bid. The original bidder/buyer is obliged to pay Flanders Foal Auction bvba the expenses for re-auctioning the embryo as well as the difference between his bid and a possibly lower purchase sum after re-auctioning.
13. If a buyer can?t be immediately identified, the embryo shall be called again.
14. The provisional allocation is done under the condition precedent of the seller?s approval. Immediately after all embryos have been provisionally allocated, the respective sellers are asked to give their approval and it is clearly announced in public which embryo?s receive final allocations and which embryo?s are withheld.
15. The auctioneer in Belgium decides at first and last instance on all disputes regarding the progress of the sale.
16. Unless other arrangements between buyer and seller/breeder, the buyer picks up the surrogate mare at the seller/ breeders place.