Online Auction Conditions Foal Auctions

1. The Z Online Auction is organised by Stoeterij Zangersheide NV, a limited company with its seat at Domein 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 foals 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.

4. The buyer who wishes to bid must register on the auction website www.zangersheide.auction in the prescribed manner before he can participate in the auction. This registration constitutes unconditional acceptance of the terms and conditions of the auction. Furthermore, by participating in an auction, the buyer declares to be authorised to perform legal acts and the buyer declares to be authorised to enter into a purchase agreement with regard to the foal in question. Stud farm Zangersheide NV reserves the right to refuse registration and participation in an auction at any time or to terminate it unilaterally. At Stoeterij Zangersheide NV's first request, the purchaser must submit valid proof of identity, in the absence of which the purchaser may not participate in the auction. The purchaser is obliged to ensure that all information to be provided by the bidder to Stoeterij Zangersheide NV upon registration is filled in completely, correctly and truthfully and the purchaser guarantees the correctness and completeness of the information provided by him. Should this information change at any time, the purchaser is obliged to immediately inform Stoeterij Zangersheide NV of such change(s). The user name and password used by the purchaser for an auction are strictly personal and may not be transferred by a purchaser to third parties. If the purchaser suspects that someone else knows his or her password, the bidder must immediately inform Stoeterij Zangersheide NV. The buyer is liable for and bound by all transactions which take place at an auction and which result from the use of his/her password and/or user name, also in the event of misuse if the buyer has handled his/her user name and password carelessly.

5. The buyer is aware and expressly agrees that the services available via the website are limited to making it technically possible to follow the auction via the internet and to participate in the auction as a bidder. Stoeterij Zangersheide NV has no responsibility whatsoever for the organisation and course of the auction via its website (for example and without wanting to be exhaustive: the failure of the website during the auction or the delay in the operation of the website during the auction). Stoeterij Zangersheide NV makes every effort to secure its systems against loss of data and/or against any form of unlawful use and will take appropriate technical and organisational measures to this end. In his dealings with Stoeterij Zangersheide NV the buyer is obliged to adequately secure the computer and/or any other device that he uses to gain access to the auction website and, as usual, to protect it against viruses or other unlawful programmes or files that may be spread via the internet.

6. The foals are auctioned in the condition they have at the time of the auction. The veterinary reports can be viewed online.

7. 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.

8. The auction is supervised by a bailiff to be indicated by Stoeterij Zangersheide NV who will draw up an official report of the allotment.

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

- From 500 euro - 20.000 euro per €1.000,-

- From 20.000 euro - 100.000 euro per €2000,-

- From 100.000 euro per €5000,-

10. 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 until 5 minutes. The extended time will become the new indicative closing time.

11. 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 foal to the buyer.

12. In the auction a foal 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. The private buyer/consumer has a right of withdrawal of 14 days. The initial buyer is obliged to pay Stoeterij Zangersheide NV the costs involved in this resale, at least the difference in the purchase price that was not realised during the resale.

13. The settlement amount is immediately due upon allotment.

14. The foal is delivered at the expense of the seller, at a time indicated by Zangersheide (not earlier than the age of 5 months), at Stoeterij Zangersheide where it is offered for a clinical inspection. The buyer will be informed of this time in a timely manner. If the foal is found to be clinically good by a veterinarian appointed by Zangersheide, delivery to the buyer will take place. Delivery will only take place once the settlement amount as defined in article 11 has been credited to the account of Stoeterij Zangersheide. Any liability and the risk with regard to the auctioned foals is transferred from the seller to the buyer, immediately after delivery of the foal to Stoeterij Zangersheide. The legal relationship is directly between the buyer and seller, on the understanding that with regard to the buyer, the seller and not the auction organization is liable for any shortcoming that the foals might show after the auction.

15. The foal must, at the expense of the buyer, be collected within 7 days after delivery at Stoeterij Zangersheide. After these 7 days, Stoeterij Zangersheide will charge stable fee. This stable fee is 10 EUR per day (excl. VAT and excluding other costs necessary for the care of the foal).

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

17. The information provided about the foals is exclusively intended to give an impression of the qualities of the foals 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.

18. In case of export of a foal, the buyer will submit valid transport documents within 3 months after delivery of the foal to Stoeterij Zangersheide, on forfeiture of a penal sum consisting of the VAT as yet to be charged.

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

20. 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.

21. 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.