Auction terms and conditions Embryo Sale
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Organizer and Sales Contract:
European Breeders Trust AG (hereinafter referred to as the "Organizer") organizes the online and live auction and sells the embryos or embryo rights listed online in the name and on behalf of the owner of the donor mare. Sales contracts are concluded exclusively between the seller (owner of the mare) and the highest bidder. By participating in the auction, whether online or live, the bidder agrees to the auction terms and conditions. All information about the offered embryos is provided to the best of the organizer’s knowledge. However, the organizer assumes no liability for the accuracy of the information provided online or in other materials. Errors do not entitle the highest bidder to withdraw from their obligation to purchase the embryo, as the buyer has had sufficient time to review the lot. -
Embryo Registration and Export:
The organizer guarantees that all offered embryos meet the registration criteria of the World Arabian Horse Organization (WAHO). All costs for the collection of the embryo, transport, the housing of the donor and recipient mares, and the registration of the embryo, including the export certificate to the buyer’s country, are to be borne by the buyer. -
Bidding Currency:
All bids must be made in Euro (€). -
Bidding Errors and Disputes:
The organizer is not responsible for errors during the bidding process. Doubts about the validity of the highest bid must be reported immediately. The auction may be reopened and continued at the discretion of the organizer, even if the sales contract has already been signed. Disputes arising during the auction will be decided by the organizer. This decision is binding for all parties and does not entitle anyone to compensation or reimbursement of costs. Examples of such disputes include: two or more bids for the same embryo, misunderstandings about the allocation of the embryo, obvious errors by the organizer, or technical issues during online bidding. The auctioneer has the right to reject bids at their discretion. In the event of a dispute between two or more bidders, the auctioneer may decide to relist the lot. The auctioneer’s decision is final and binding. -
Buyer Withdrawal:
If the buyer refuses to confirm the sale or fails to do so, the embryo may be re-auctioned. In this case, the original buyer is liable for any potential loss in proceeds. -
Purchase Price, Commission, and Taxes:
The purchase price consists of the hammer price plus a 9% commission. No additional fees are charged by the organizer, but the buyer is responsible for all costs associated with the production of the embryo. The purchase price is also subject to the applicable VAT (currently 19%). Buyers with a valid EU VAT identification number, who can provide proof of intra-community transport of the embryo, are exempt from VAT. Buyers who provide export documents showing the embryo's export from the European Union are also exempt from VAT. -
Transfer of Ownership:
Ownership of the embryo passes to the buyer upon full payment of the purchase price. Until full payment is received, the embryo remains the property of the seller. The buyer is not entitled to withhold payment or any portion thereof under any circumstances. -
Refund Policy:
If an embryo under 42 days of age is sold, the seller is required to refund 66% of the purchase price if the embryo is not confirmed in the recipient mare by a veterinarian after 42 days.
If an embryo right or frozen embryo is sold and the seller is unable to produce the embryo within 12 months, the seller must also refund 66% of the purchase price. In both cases, the embryo must be confirmed by a veterinarian after 42 days in the recipient mare. -
Payment and Seller’s Right to Withdraw:
Payment of the purchase price must be made within 10 business days after the auction hammer, either in cash or via bank transfer. If the buyer fails to pay the full purchase price within 4 weeks of the auction hammer, the seller has the right to withdraw from the sale. In such a case, the buyer is liable for any resulting damages or losses, including any potential loss of proceeds. The organizer is authorized to receive the payment and may take legal action against the buyer if payment is not received. The organizer is only liable in cases of willful misconduct or gross negligence. -
Program Changes:
The organizer reserves the right to change the auction schedule. This includes the right to auction certain lots together, separately, or not at all. -
Insurance:
It is strongly recommended that the buyer insures the embryo after it is confirmed in the recipient mare by a veterinarian after 42 days, as any guarantees from the seller expire after this point. -
Governing Law and Jurisdiction:
These auction terms and any resulting claims or actions are governed by German law. The place of jurisdiction is Kempten, Germany. The prevailing party is entitled to reimbursement of reasonable attorney’s fees, costs, and expenses.
