Terms And Conditions for KWPN Auctions 1. 1.1 GENERAL Definitions In these terms and conditions, the concepts below are defined as follows: • Delivery Contract: the delivery contract completed and signed by the Buyer and the Seller which shows that the Buyer has obtained the Horse; • • Auction Price: the price offered by the Bidder for a Horse at an Auction; Terms and Conditions: the terms and conditions for the KWPN auctions, both the Online Auctions as well as the Physical Auctions; • • Bidder: the person who registers or has registered as prescribed by the KWPN to participate in an Online Auction as well as the person who bids on a Horse(s) during a Physical Auction; • Consumer: the natural person who does not act for purposes relating to the exercise of a trade, business, craft or profession; • • Participant: a participant in the Auction in the capacity of Bidder, Buyer or Seller; • Award: the express statement of the KWPN (on behalf of the Seller) to the Buyer that a bid from the Buyer has been accepted as the highest bid and that the Horse on which the Buyer has bid has been awarded to the Buyer. This statement is considered an acceptance on behalf of the Seller according to Article 6: 217 of the Dutch Civil Code. This statement includes the Purchase Agreement Statement; • Registration: the registration of the Seller with the KWPN in order to offer a Horse for Auction through the KWPN on behalf of the Seller; • Purchase Agreement: the purchase agreement which is created between the Seller and the Buyer as a result of the Award; • Purchase Price: the amount owed by the Buyer for the Horse offered for Auction, consisting of the Auction Price plus the Premium, in addition to the applicable VAT rate; • 102 Buyer: the Bidder who is the recipient of the Award; • • • KWPN: both (i) the Royal Warmblood Studbook of the Netherlands, in the case that this association facilitates the Auction and the Auction Service; as well as (ii) the KWPN Select Sale foundation (KSS) in the case that this foundation facilitates the Auction and the Auction Service; Horse: a foal, mare or stallion; Personal Data: the personal data which a Participant must provide the KWPN upon registering as a Participant in order to take part as a Participant in an Online Auction and that which can be traced to his or her person; Premium: an amount by which the Auction Price is increased and that is 10% of the Auction Price • Select Sale: the Physical Auction for jumper- and dressage stallions in ‘s-Hertogenbosch, which is organized and facilitated by the KSS • Buyback: a repurchase in the case that the Buyer is also the Seller of the Horse offered for Auction; Auction: the auctions organized and facilitated by the KWPN for the sale of one or more Horses, including both the physical auctions organized and facilitated by the KWPN on location (Physical Auction) and the online auction organized and facilitated by the KWPN through the Auction Website (Online Auction); • Auction Service: mediation in the creation of a Purchase Agreement through the facilitation of an Auction; • • Auction Website: the auction website with which the KWPN offers its Auction Service; Purchase Agreement Statement: the purchase agreement statement the KWPN (on behalf of the Seller) sends or provides to the Bidder / Buyer and which the Bidder / Buyer completes and signs; • Seller: the natural person or legal entity which has commissioned the KWPN to sell one or more Horses by means of an Auction on behalf of and for the account of the Seller;
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