Terms And Conditions for KWPN Auctions Conditions or otherwise. 4. 3.4.4. If the KWPN has received the Delivery Contract but the Buyer and / or Seller has not yet complied with all payment obligations to the KWPN, the KWPN will pay the amount it owes the Seller within 30 calendar days after the last payment obligation has been met. The Seller is not entitled to a settlement. 3.5 Buyback 3.5.1. A Horse put up for Auction will always be sold, unless there is no bid for it. If no bid is placed, the Seller must buy back the Horse for the opening bid. In that case, the opening bid will be considered the Auction Price. 3.5.2. A Seller who buys back a Horse offered by the Auction is also considered a Buyer, with the exception of Article 1.6 of these Terms and Conditions. 3.5.3. No Premium is due at Buyback. 3.6 Non-Participation in the Auction by Registered Horses 3.6.1. If a Registered Horse does not participate in the Auction, the Seller, without demanding notice of default, will immediately be fined a penalty of € 1,000. In the case of the Select Sale, the penalty is € 5,000. 3.6.2. If a Registered Horse, in the Seller’s opinion, cannot participate in the Auction due to health reasons, the Seller must immediately notify the KWPN in writing with a detailed description of the ailment, after which the KWPN will have the nature of the ailment evaluated and determine if the Horse can participate in the Auction. 3.6.3. If the Seller provides the KWPN no opportunity or insufficient opportunity to examine the Horse in a timely manner, or if the Horse has been approved by the KWPN or a KWPN-approved veterinarian for participation in the Auction and nevertheless does not participate in the Auction, the Seller shall owe the KWPN the aforementioned fine of € 1,000. If a Horse, whether or not approved, does not participate in the Auction, the Seller shall pay the associated veterinary costs incurred by the KWPN, with a minimum amount due of € 1,000, excluding any VAT. 4.1 ADDITIONAL TERMS AND CONDITIONS FOR SELLERS IN THE SELECT SALE Guarantees 4.1.1. In addition to Article 3.2 (Guarantees and Indemnities), the Seller shall provide the following guarantees in the case of the Select Sale: a. guarantee of semen quality and fertility of his / her Horse(s) designated for the KWPN performance test (selected Horse) for a period of six months after the Auction. Semen quality is assessed based on the average of two ejaculates, with an interval of approximately one hour. The semen must contain at least 30% living sperm and 30% normally built cells. In the event of a disagreement between the Buyer and Seller regarding the aforementioned, semen quality and fertility will be evaluated by the Faculty of Veterinary Medicine at the University of Utrecht. The evaluation must be conducted within 14 calendar days after the sale at the Seller’s expense. This requirement only applies to Horses selected for the performance test. The Buyer may have the evaluation conducted voluntarily at the Buyer’s expense; b. a guarantee of a normal and properly functioning respiratory system and no evidence of laryngeal hemiplegia. The Horse must also make normal breathing sounds at rest and during work for 1 month after the Auction. The evaluation of the Horse’s respiratory system conducted by the Faculty of Veterinary Medicine in Utrecht is binding; and c. a guarantee that the Horse is free of stable vices (cribbing, weaving and / or wind-sucking). The Buyer must notify the KWPN in writing of any stable vices within 7 calendar days of actual delivery and provide a detailed description of the nature of the stable vices. The KWPN will then appoint a veterinarian to examine the horse. If, in the opinion of that veterinarian, the Horse possesses the stable vices identified by the Buyer, the Seller must pay the associated costs incurred. The Buyer shall pay for costs incurred if the veterinarian deems the Horse free of stable vices. 109
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