1. STEPHEX STABLES NV, a public limited company with its registered office at 8 Lovegemstraat, 1861 Meise, Belgium, registered in the Crossroads Bank for Enterprises register under number 0477.214.858, organises a horse and embryo auction during its BRUSSELS STEPHEX MASTERS edition 2019 event to be held from 28.8.2019 until 1.9.2019, on 30.8.2019.  
  2. Participation in this auction shall imply the explicit taking note and acceptance of these Auction Terms and Conditions without any reservation. Participation in an auction does not mean to a bidder that a lot is simply sold to the bidder.
  3. STEPHEX STABLES NV shall sell its own horses and embryos at this auction as well as through its website. Any Purchaser who wishes to bid via the online auction must register via the website before he can participate in the online auction. This registration shall be considered to be an unconditional acceptance of the Auction Terms and Conditions. The Purchaser shall be aware of and explicitly agree that the services available via the website shall be  limited to making it technically possible to follow the auction via the internet and to participate in the auction as a bidder. STEPHEX STABLES NV shall not be responsible and shall not assume any responsibility whatsoever for the organisation and the course of the auction via its website (for example and without wanting to be exhaustive: a  website failure during the auction or a delay in the website operation  during the auction). 
  4. The lots shall be auctioned in the state they are in at the time of the auction.
  5. The sale shall be made in accordance with the laws of Belgium by means of auctioning and knocking down  to the highest bidder after payment of the settlement amount, whether or not to be increased by VAT. The auction shall be supervised by an Auctioneer to be designated by STEPHEX STABLES NV, who shall draw up an official report of the knocking down.
  6. The bids and payments shall be made in EUROS.
  7. The horses shall be knocked down to the highest bidder at the end of the auction. With regard to the Purchaser, the settlement price shall be calculated as follows: the knocking down price plus any applicable VAT. By making a bid, the bidder undertakes to pay the settlement amount after the knocking down.
  8. Should the Purchaser withdraw, for any reason whatsoever, STEPHEX STABLES NV shall be entitled to re-auction the lot. The initial Purchaser shall be obliged to pay to STEPHEX STABLES NV the costs associated with this re-auction, at least of the difference in the purchase price that was not realised during the re-auction.
  9. If the Purchaser cannot be identified, STEPHEX STABLES NV shall be entitled to re-auction the lot.
  10. The provisional knocking down shall be made under the condition precedent of approval by STEPHEX STABLES NV. Immediately after the knocking down of the lots concerned, the Auctioneer shall request STEPHEX STABLES NV to confirm its eventual approval in order to obtain the final knocking down of the lots.
  11. The settlement amount shall be due immediately upon the knocking down. The ownership of the horses shall be transferred at the moment of receipt of payment by the Purchaser by STEPHEX STABLES NV. 
  12. STEPHEX STABLES NV shall issue an invoice to the Purchaser, which invoice shall be payable cash and must be settled on the account of STEPHEX STABLES NV prior to the delivery of the horse and/or embryo to the Purchaser.
  13. If STEPHEX STABLES NV has not received full payment from the Purchaser within 5 working days from the auction, the Purchaser shall be legally in default and obliged to make, in addition to the other amounts owed to and in favour of STEPHEX STABLES NV, (a) an interest payment of 1% per month on the total settlement amount due to be calculated from the day of the auction until the day of full payment and (b) to pay additional damages amounting to 10% of the settlement amount.
  14. If STEPHEX STABLES NV has not received full payment from the Purchaser within 5 working days from the auction, STEPHEX STABLES NV shall also be entitled to consider the purchase terminated without notice of default, with the possibility for STEPHEX STABLES NV to charge fixed damages of 20% on the settlement amount.
  15. Any liability with regard to the auctioned lots shall pass to the Purchaser immediately after they have been knocked down. After the auction and payment, the Purchaser and STEPHEX STABLES shall come to an arrangement for the delivery of the lots in mutual consultation.  The delivery shall take place in Belgium at the address of the registered office of STEPHEX STABLES NV unless agreed otherwise in writing between the parties hereto. Any transport costs shall be borne by the Purchaser.
  16. Not all embryos that are offered for sale have already been implanted in a carrier mare. A clear distinction is made in the auction catalogue. If the lot relates to an embryo that has already been implanted, the following terms and conditions shall additionally apply. The carrier mare carrying the Embryo sold to the Purchaser shall remain the property of STEPHEX STABLES NV and shall, after prior notice, be returned by the Purchaser to STEPHEX STABLES NV in good health, dewormed and vaccinated not later than 6 months after the birth of the Foal. STEPHEX STABLES NV may request a deposit (worth 2000 euros excluding VAT) from the Purchaser for using the carrier mare. This deposit shall be refunded to the Purchaser when the carrier mare is returned to STEPHEX STABLES NV in good condition. STEPHEX STABLES NV shall bear full responsibility for the carrier mare and her unborn Foal up to at least the 60th day of gestation or until the date of sale, if it exceeds the 60th  day of gestation. STEPHEX STABLES shall  no longer be responsible for the health of the carrier mare and her unborn Foal after the sale of the Embryo.
  17. STEPHEX STABLES NV draws the attention of the purchaser to the fact that the purchaser has the option of taking out insurance with Catherine De Buyl Insurance immediately after purchase.
  18. STEPHEX STABLES NV shall ultimately settle any and all such disputes as may arise during the auction transactions with regard to the sale.
  19. The Purchaser cannot derive any right from the fact that STEPHEX STABLES selected the lots and, if applicable, subjected the same to a veterinary examination at its request.
  20. The information regarding the lots offered for sale is only intended to give an impression of the qualities of the lots, without pretending to be complete and without giving guarantees. STEPHEX STABLES NV shall not be liable for any printing errors and/or material errors in the auction catalogue or on its website and in its online catalogue.
  21. STEPHEX STABLES NV shall not be liable for any visible and/or hidden defects. In any case, the liability of STEPHEX STABLES NV shall be limited to the maximum amount paid by the Purchaser and to the amounts covered by its insurer.
  22. In the event of export, the Purchaser shall submit a valid export document within 3 months from the auction; otherwise the VAT due shall still be charged by STEPHEX STABLES NV to the Purchaser
  23. STEPHEX STABLES NV reserves the right to modify these Auction Terms and Conditions without prior notice. Should one or more of the provisions stated in the Auction Terms and Conditions not be legally valid or become legally invalid, the remaining provisions shall continue to be legally valid. In that case, a new provision shall  replace  the aforementioned provision that is not legally valid, which will correspond as much as possible to the old provision that is not legally valid with regard to content, scope and purpose.
  24. In the event of a dispute, only the Dutch text shall apply. The translation of these Auction Terms and Conditions into a language other than Dutch shall be merely for information purposes.
  25. STEPHEX STABLES NV shall ultimately settle all such disputes as may arise during the auction transactions with regard to the sale.
  26. Any dispute arising from this auction and its consequences shall be governed exclusively by the laws of Belgium to the exclusion of the provisions of the Vienna Convention on Contracts for the International Sale of Goods. The Brussels Dutch-speaking Enterprise Court and the Brussels Dutch-speaking Court of First Instance shall have exclusive jurisdiction in any disputes.