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General Sales Conditions (by auction and/or private treatment)

 

1 These General Sales Conditions regulate all transactions applicable to the sale of assets carried out by INTERNATIONAL AUCTION GROUP, S.L.U. both by private treatment (to which reference is made in the corresponding invoice), and by auction. Likewise, these General Sales Conditions, together with the Special Conditions of each auction and the privacy and data protection conditions, regulate the legal relationship that is established in the contracting process that is carried out between the Bidders and/or Awardees that will be applicable to the sale of assets carried out by INTERNATIONAL AUCTION GROUP, S.L.U. ("THE AUCTIONEER") through its web platform located at www.iagauction.com, who, as a specialized entity designated by "THE SELLER" or in its own name, will carry out the sale of the assets (real or personal property and rights) to the Bidder ("THE TENDER"), who, once the asset/s are awarded to him/her, will become the Awardee ("THE ASSIGNEE"). All other conditions, whether explicitly or implicitly expressed in common or special law that contradict these conditions, are hereby excluded. Thus, the same conditions shall apply and be binding for the sale of assets on a private basis with respect to any buyer, subrogating and acquiring the position of the Bidder/Assignee in all obligations stipulated with respect to the same.

 

2 Being a Bidder/Assignee on www.iagauction.com, implies that you acknowledge having read and accepted the conditions set out therein, and in accordance with Law 34/2002 of 11 July, on Information Society Services and Electronic Commerce, prior to its possible award, with the necessary notice, information on the General and Special Conditions of Sale has been provided on the Auctioneer's website, in a true, effective and complete manner, and you submit to them. This service, its platform and website are the property of the commercial entity INTERNATIONAL AUCTION GROUP, S.L.U., of Spanish nationality, with registered office in Badalona, Barcelona, Calle Electrónica, number 19, floor 6, door A, registered in the Barcelona Commercial Registry on Folio 67, of Volume 42,661, Page B-406,120.

3 In accordance with Law 34/2002, of 11 July, on Information Society Services and Electronic Commerce (Annex, section a) 2º, the organisation and management of auctions by electronic means, the Auctioneer does not guarantee nor respond for the data stored at the request of the interested parties, provided that they do not have effective knowledge that the information stored is illicit or that it harms the goods or rights of third parties susceptible to compensation.

 

4 Being a Bidder/Assignee at www.iagauction.com, implies that you expressly waive the right to withdraw from any lot in accordance with RD 1906/1999.

 

5 The Auctioneer specialises in promoting activities related to the online auction of assets from bankruptcy proceedings, under the protection of articles 149 of the Bankruptcy Law of 2003, (reformed by RD-Law 11/2014), 43 of the same law, articles 415 and following of RDLeg. 1/2020 of 5 May of the Revised Text of the Bankruptcy Law, article 15 of RD 16/2020, article 10 of Law 3/2020 and article 641 of the Civil Proceedings Law.  In this sense, it may happen that some of the auctions are governed by a specific Settlement Plan, which may be changed by the corresponding bankruptcy administrators or by a court ruling, even if express judicial authorisation is required before or after the auction. In this case, the Special Conditions of the auction in question shall be informed. Likewise, the Auctioneer shall not be liable for any possible charges or encumbrances on the assets that the Insolvency Administrator and/or the corresponding court has not duly informed.

 

6 The Auctioneer specialises in promoting activities related to the management, purchase and sale and online auctioning of assets intended for individuals or legal entities not considered as consumers and within the framework of a business or professional activity, for which reason the General Law for the Defence of Consumers and Users and other complementary laws shall not apply, without prejudice to the provisions of Article 8 of Law 34/2002, of 11 July, on Information Society Services and Electronic Commerce.

 

7 The Auctioneer may at its discretion or at the request of the Seller:

  1. a) Change, cancel or withdraw all or any of the lots listed at each auction until the time of sale, that is, when the Auctioneer awards the lot in question during the Auction.
  2. b) Suspend the auction for justified reasons and/or in the event of receiving a bid for all or most of the assets subject to Auction.
  3. c) Stop the Auction to require a deposit from a Bidder and/or Awardee.
  4. d) When a reserve price has been assigned to any lot, withdraw that lot if the highest bid does not reach the reserve price.
  5. e) When two or more consecutive lots are similar in quantity and characteristics, offer the following lots to the Tenderer of the first one for the same price.
  6. f) Bid for any lot or lots offered for sale at the Auction.
  7. g) Block and remove from any of the auctions any Bidders who have not fulfilled their obligations in the past and have omitted or infringed the conditions set out by the Auctioneer. At the time a Bidder is blocked, the Bidder may no longer use the Auctioneer's website or register again directly or indirectly under another name without express permission from IAG, without prejudice to any liability it may incur.

 

8 Each lot must be sold to the highest bidder and any dispute between Bidders shall be resolved at Auctioneer's sole discretion.

 

9 Registration: In the case of foreign buyers, not resident in Spain, a bank guarantee may be requested at the time of Auction Registration, preferably.

 

10 The bidding system shall be regulated by the Auctioneer in the manner that seems most appropriate to him and, without prejudice to the foregoing, he may refuse to accept any bid, provided that there are indications subjectively appreciated by the Auctioneer that he cannot comply with the Terms and Conditions of Sale, without justification being required, and also to bid on his own behalf even if it is in the interest of a third party.

 

11 The Auctioneer who has been awarded one or more lots shall pay the Auctioneer a fee of 18.5% as Buyer's Premium, on the total amount of the award; to the resulting amount shall be added the relevant taxes at the prevailing rate and in particular the corresponding V.A.T. The Buyer's Premium is not negotiable and must be paid by all successful bidders through the Webcast System. If the amount of the fees for Buyer's Premium varies, it will be specified in the Special Conditions of each auction. The Auctioneer, when acting as an agent of the Seller, may also receive a fee from the Seller.

 

12 Auctioneer may require Bidders to deposit at any auction or private treaty sale it conducts. The requirement of a deposit inexcusably implies that the Bidder wishing to bid, prior to placing a bid, must have made a deposit in the account designated and for the amount shown in the special auction conditions. Once the auction has ended, in the event that the Bidder is not the successful bidder for the good or goods for which he has bid, the deposit shall be returned to him by bank transfer, to the same account from which the initial transfer came, within the period indicated in the special conditions of the auction. If the successful bidder is awarded the deposit shall be used to pay part of the price of the goods awarded. In the event that, once the auction has ended, the Awardee declares that he/she does not wish to continue with the awarding process or does not tender the public or private documents that are necessary for the transfer of the asset and payment of the price, independently of demanding the responsibilities that may be applicable due to the non-compliance of the aforementioned highest bidder (in the form that is established in the bases and conditions of intervention in the auction), the following highest bidder in the auction held may be declared the successful bidder, in the order of their respective bids. As regards the type of liability incurred, in addition to the damages caused in the procedure, which will result in the loss of the deposit deposited and, if applicable, the claim arising from the Seller and/or the Auctioneer in charge of the sale or auction, the Seller and/or the Auctioneer in charge of the sale or auction shall pay the specialised entity the amount of the fees stipulated, without prejudice to the provisions of conditions 13 and 14. 1. Those who request gifts or promises not to take part in a public competition or auction; those who try to keep bidders away from it by means of threats, gifts, promises or any other artifice those who arrange among themselves to alter the price of the auction, or those who fraudulently go bankrupt or abandon the auction having obtained the award, will be punished with a prison sentence of one to three years and a fine of 12 to 24 months, as well as special disqualification from bidding in judicial auctions of between three and five years.

 

13 Immediately upon award, the Auctioneer shall require the Awardee to pay in full for the awarded lot(s), in cash, transfer, bank check or conformed cheque. Cash payments of more than 2,500 euros will not be accepted in accordance with Law 17/2012 of 29 October. No withdrawal or waiver of the award will be accepted. In the event of not proceeding with the payment of the total amount during the time established in the Special Conditions of the Auction, the Auctioneer shall pay from 25% to 50% of the price of each of the lots that have been awarded, with the Auctioneer having the option of requesting as much information as necessary regarding the identity and the address/head office of the company. The amount resulting from the above shall be delivered to the Auctioneer as a deposit on account of the total amount of all the lots acquired by the Auctioneer at the sale, providing proof of the amount paid as well as the lot(s) awarded. The remaining amount, of the total amount of the invoice of the awarded lot(s), shall be obligatorily payable to the Auctioneer before the maximum date set in the Special Conditions of Sale of the Auction.

 

14 In the event that the Auctioneer fails to pay for the assets awarded within the stipulated time period (including Buyer's premium and V.A.T.), on the terms and dates indicated, Auctioneer shall have the option to

  1. a) unilaterally terminate the award, losing all rights to the awarded items either in title, possession or any other similar rights, including deposits made, automatically returning to the ownership of Seller, without Auctioneer having any claim against Seller or Auctioneer on this basis. Thus, in the event that the Auctioneer has made a payment on account, deposit, signal or payment of any kind, and the Auctioneer has not paid the rest within the stipulated period, both in the case of an auction and in private dealings, the Auctioneer/Seller shall keep the amount received as compensation for the damages caused, and the Auctioneer shall also bear all the expenses incurred in such circumstances. In addition, in the event that no payment on account, deposit, signal or payment of any kind has been made by the Auctioneer, and without prejudice to Condition 13, the Auctioneer/Seller may claim as compensation the amount of the commission that should have been received and/or the damages that may be incurred.
  2. b) to oblige compliance with the award in the amount and form stipulated, plus all expenses incurred for such purpose either directly or indirectly as well as those costs incurred by third parties in connection with the Auction.

 

15 The payment of the deposit by cheque or cheque made out to residents in Spain will only be accepted. Non-residents must pay the deposit by cheque or bank transfer.

 

16 All lots must be withdrawn by the Awardee from the place where they are located. The withdrawal is subject to the conditions expressed in the following condition, before the maximum date and time set in the Special Conditions of the Auction, this being an essential condition of the contract.

 

17 In the event that the Auctioneer fails to remove the assets, on the terms and dates set forth in these conditions and in the Special Conditions of the Auction, the Auctioneer shall have the option of

(a) unilaterally terminate the award, losing all rights to the items awarded either by way of ownership, possession or any other similar right, including any deposits made by automatically returning to the Seller's ownership, without the Auctioneer having any claim against the Seller or the Auctioneer on this basis. Thus, in the event that the Auctioneer has made a payment on account, deposit, signal or payment of any kind, and the Auctioneer has not paid the rest within the stipulated period, both in the case of an auction and in private dealings, the Auctioneer/Seller shall keep the amount received as compensation for the damages caused, and the Auctioneer shall also bear all the expenses incurred in such circumstances. In addition, in the event that no payment on account, deposit, signal or payment of any kind has been made by the Auctioneer, and without prejudice to Condition 13, the Auctioneer/Seller may claim as compensation the amount of the commission that should have been received and/or the damages that may be incurred.

  1. b) to oblige compliance with the award in the amount and form stipulated, plus all expenses incurred for such purpose either directly or indirectly as well as those costs incurred by third parties in connection with the Auction.

 

18 The Awardee may only remove the lots from the Seller's premises or from the place where they are located, provided that they do so within the maximum period of time established in the Special Conditions of the Auction, on the date and at the time agreed with the Auctioneer and under the supervision of the latter or his representatives.

 

19 The Auctioneer may not remove any lot purchased from the premises until it has paid all amounts due as set out in these conditions within the stipulated period. Otherwise, even if payments have been made on account of any kind, the Auctioneer shall lose any rights thereto, and the Auctioneer/Seller shall be free to dispose of them, taking into account conditions 14, 17 and 18 in particular.

 

20 If, in the opinion of Auctioneer, the removal of any lot or part thereof would cause serious damage to Seller's premises or any damage that Bidder is unable or unwilling to repair, Auctioneer may, in its sole discretion, cancel the sale of such lot or allow it to be removed from the premises under such conditions as it deems appropriate.

 

21 The Auctioneer or Seller may require the Auctioneer to comply with risk prevention and occupational health and safety regulations in the procedure for accessing and removing the assets, and in (1) Prior identification of persons and/or clients of the Buyer who are going to access the industrial premises at least one working day in advance, (2) Display of mandatory documents in relation to persons in order to comply with the provisions of the Law on the Prevention of Occupational Risks (31/1995, of 8 November) Article 24 on the coordination of business activities: List of workers who are going to carry out the work. Photocopy of the National Identity Document; Photocopy of the contract in force with an external Prevention Service (including the contracted modalities) and if you have your own Prevention Service, name and surname of the Senior Technician in Occupational Risk Prevention; Document of association to Mutual Insurance Company; Risk Assessment and preventive measures specific to your activity; Records according to the workers who are going to carry out the operations have received specific training and information, according to the work they are going to do, in the field of occupational risk prevention; List of workers with the capacity to use machinery (forklift, etc.), training certificate in the use of said machine; Certificates of occupational aptitude issued by the Health Surveillance Service in accordance with the workers who are going to carry out the operations are suitable for the job; Copy of the social security payments, model TC1 and TC2 (otherwise model TA. 2 ); Certificate from the General Treasury of Social Security to be up to date in the payment of social security contributions; Photocopy of the last receipt of the civil liability insurance; Record of delivery to the workers of the individual protection equipment (EPI's) necessary to carry out the activity. In the event of non-compliance with the relevant regulations, Auctioneer shall be entitled to the provisions of Clause 15.

 

22 In the event that a third party claims possession or ownership of all or part of the lot prior to its removal from Seller's premises, Auctioneer reserves the right to cancel the award or allow its removal from the Auction procedure and premises, subject to such conditions as it deems appropriate, without the Auctioneer being entitled to claim from the Auctioneer for this reason.

 

23 The Auctioneer shall be responsible for all damages that it, its carriers or its agents may cause to property belonging to third parties (and particularly to Seller's facilities) upon removal of the lot(s) it has purchased. In the event Auctioneer believes that such damage may occur, it may require Auctioneer to make available a sum of money to cover the estimated costs of repairing the damage anticipated by Auctioneer. Should Auctioneer refuse to make this deposit, Auctioneer may prevent Auctioneer from accessing the premises for the purpose of removing some or all lots as provided in Section 15.

 

24 In the event Auctioneer fails to comply with any of the foregoing requirements, the lot(s) awarded to it or any portion thereof may be awarded to the second highest bidder or may be reoffered for sale, destroyed or otherwise disposed of at the Auctioneer's discretion.

 

25 Without prejudice to any legal action that Auctioneer and/or Seller may bring against Bidder/Assignee for breach of contract or other causes, Auctioneer shall be liable, from the end of the period of time for removal of the assets set forth in the Special Conditions of the Auction, for all storage, administration and other costs arising from the resale and/or disposal of the assets not removed.

 

26 The Awardee shall assume all risks from the moment of the award, and is especially recommended to insure the assets acquired immediately. At the aforementioned time of sale, the Awardee assumes all risks in relation to the acquired lots that may arise thereafter, and is advised that it is advisable to have the aforementioned insurance policies in place as they are deemed necessary. The Auctioneer's and/or Seller's obligation to deliver the lots shall be deemed to have been fulfilled at the time of award, even if the lot is subsequently damaged and/or lost in whole or in part.

 

27 Ownership of each lot shall not be transferred to the Auctioneer until the following conditions have been met: (i) the price is paid in full on the dates indicated (ii) the lot has been removed from the premises where the assets subject to the Auction are located on the dates indicated.

 

28 Seller and Auctioneer shall not be liable for any claims of any kind, whether in contract or in error (excluding those claims involving personal injury caused by Seller's or Auctioneer's negligence), brought by Auctioneer, due to or arising from any reason whatsoever, in connection with the sale or purported sale of all or any of the assets for any amount in excess of the deposit or purchase price (as the case may be) paid by Auctioneer in respect of the assets to which the claim relates.

 

29 The Auctioneer carries out the dissemination and mediation for the sale and/or auction of assets that may come from individuals or legal entities that have been declared bankrupt, and in the same way with regard to non-bankrupt assets. As regards assets coming from entities declared in insolvency proceedings and included by the insolvency administration in the corresponding Liquidation Plan and its possible addenda, or those coming from companies wishing to sell them, the Auctioneer, with the prior authorisation of the Sellers or authorised persons, shall publish photographs of the assets advertised on this portal, as well as display any data that may be necessary for the Bidders to have a greater knowledge of the physical and legal state in which they are located. All such data shall be displayed on the Auctioneer's web platform, notwithstanding any error, inaccuracy or misrepresentation in its data or description for which it is not responsible. The legal texts of the different insolvency proceedings as well as any other referring to the assets included in this website lack legal content and official character, having only informative and informative content. The Auctioneer disclaims any responsibility for their inaccuracy, and Bidders must refer to the legal texts available in the various courts, and therefore is not liable for any damages that may be caused as a result of inaccuracies or errors in these texts.

 

30 In accordance with the above, all the goods are sold as a true body, and therefore, as and where they are, in the physical and legal state in which they are found, the buyer expressly waiving any claim for hidden defects, remediation or eviction, with all faults and imperfections and errors of description, the illustrations / photos that appear in the list of the web platform that are only intended to assist in identifying the lots or goods for sale. The Auctioneer has made every effort to ensure that the descriptions of each lot are correct, but Auctioneer and any buyer accepts such descriptions at their own risk. Bidder/Awardee and any buyer is therefore advised that prior to purchase/sale by Auction or private treaty, they should inspect all lots/goods for which they intend to bid/purchase to verify the accuracy of the description and should exercise and rely on their judgment as to the correctness of the lot descriptions. None of the lots listed on the web platform are sold as new, except as specified. Except for the obligations accepted by the Auctioneer under these terms and conditions of sale, neither Seller, Auctioneer nor its employees or agents are responsible for any errors in description or authenticity of any lot, or for any loss, damage or harm that Bidder/Assignee may claim to have suffered as a result of a defect in any lot purchased. Further, neither Seller, Auctioneer, nor their employees or agents make any warranty to Seller with respect to any lot and any conditions or warranties, whether express or implied, are hereby excluded.

 

31 The price for which the Awardee acquires each of the lots does not include the Buyer's Premium, nor the applicable taxes according to the law in force. Should the Bidder wish to export any lot outside Spain, he may obtain a refund of VAT, (subject to the regulations in force at the time) by providing such evidence as the Auctioneer may require to prove such export.

 

32 Seller and Auctioneer are hereby released respectively from any liability for accidents or damage suffered by any person or persons who may access the premises for the purpose of attending the Auction, or for inspecting, purchasing or removing any lot or for any other purpose.

 

33 The Auctioneer or person representing the Auctioneer may bid during the auction, on any lot for sale.

 

34 Auctioneer may not require delivery of lots outside the times and dates set forth in the Special Conditions of the Auction after payment of the full amount has been made. The withdrawal period shall be mandatory without prejudice to any relevant circumstances that may arise such as natural disasters or circumstances, any suspension or failure of essential services, serious riots or social disorder, strikes or other similar actions, or any impediment to normal delivery that is beyond the control of the Seller or Auctioneer. Neither Seller nor Auctioneer may be required to incur any expenses at its own expense to overcome any such impediment unless Auctioneer provides the necessary funds for that purpose. Auctioneer shall not be obligated to take any legal action to overcome the foregoing impediments to lot delivery when in its judgment they may aggravate the problem or be detrimental to its own reputation or standing.

 

35 Bidder/Awardee acknowledges that any software or intellectual property rights accompanying a lot or lots may not be owned by Seller or transferred by Seller and that neither Seller nor Auctioneer authorizes in any way the use by Auctioneer of such software or intellectual property rights and that any use of such software or exploitation of such intellectual property rights shall be the sole responsibility of Auctioneer

 

36 Bidders/Assignees are expressly notified that, at the time of award, any of the items, elements or accessories, machinery or equipment included in the lots may not necessarily be approved according to current EEC regulations or adapted to the applicable occupational risk prevention regulations for use when in operation, expressly exempting Auctioneer under these conditions from any liability in this regard. Bidders are advised to ensure, with respect to possible purchases of such plant, machinery or equipment, under their sole responsibility, that the use to which they will put the purchased goods does not contravene the above-mentioned regulations.

 

37 All Bidders are expressly advised that certain types of facilities or materials may contain chemical, toxic or hazardous substances which, if not properly handled during removal from the premises, may violate applicable regulations on the use of such substances. When the removal of waste is necessary, it must be carried out by authorised and approved companies. The Auctioneer shall at its own expense take care of the diligent removal of the aforementioned substances and shall comply with the laws and regulations in force regarding the removal/disposal of waste including hazardous waste and the Auctioneer/Seller may require documentation regarding the procedures for the removal/disposal of such waste. Furthermore, it is the responsibility of Auctioneer/Seller to take safety and environmental precautions and to comply with their requirements when performing the tasks described, expressly exempting Auctioneer/Seller. In this way, the disassembly of the assets shall be carried out by the Auctioneer in compliance with the environmental requirements and the technical requirements imposed for this purpose by the council, provincial delegation or competent bodies, and it shall be the Auctioneer's responsibility to obtain, where appropriate, any permits, licenses and/or authorizations that may be necessary and without any deductions from the price, repercussions of any expenses or, in general, any claims of any kind.

 

38 When Auctioneer loads and removes any item, machine or equipment that is part of a lot or lots to be removed from their location, Auctioneer shall have no liability to Auctioneer or any other third party for any damage caused by the removal; Auctioneer shall be responsible for any damage or harm caused and shall indemnify Auctioneer/Seller for any damage or loss Auctioneer/Seller may suffer or incur with respect to any loss, damage or injury suffered by its employees or third parties that was caused by the removal of the plant, machinery or equipment. Auctioneer shall indemnify Auctioneer/Seller for any loss or damage affecting Auctioneer/Seller that may be attributable, directly or indirectly, to the nature of the item, machine or equipment purchased by Auctioneer whether due to breakage, rusting, drying out, waste leakage, inherent or latent defects or natural deterioration.

 

39 The data provided by participants in the Auction when completing the registration form are for the Auctioneer. The personal data of those registered will be processed by the Auctioneer in accordance with Law 3/2018 on Data Protection. The personal data will be entered in a personal data file owned and kept exclusively by the Auctioneer. The registered participant consents to the inclusion of his/her data in the aforementioned file to be taken into account in the organisation and execution of the Auction. Said consent shall be revocable and its purpose is to allow the use of said information for the purposes of information and organisation of the event. Under no circumstances shall the information from the registrations be passed on to third parties, except in the event of the award being made in a judicial or bankruptcy proceeding, the data of the final successful bidder may be requested by the Judicial Authority or the Bankruptcy Administrator in order to provide the disposal procedure with due transparency. The data requested are adequate, relevant and not excessive in relation to the scope, purposes and specific, explicit and legitimate services of the Auctioneer as organiser of the Auction. The user has the right to access this information, to rectify it if the data is erroneous and to unsubscribe from the file. These rights may be exercised by notifying the Auctioneer at the following addresses:

-informacion@iagauction.com  

-subastas@iagauction.com

 

40 In the event of any dispute arising from either the Spanish or English version of the General Conditions of Sale and the Special Conditions of the Auction, the Spanish version shall take precedence. These conditions are regulated and interpreted in accordance with the laws of Spain and any dispute will only be resolved, waiving its own jurisdiction, by the courts of Barcelona.

 

Particular conditions for Real Estate Auctions (by auction and/or private treatment)

 

1 General and Special Conditions. These General Conditions of Sale, together with the Special Conditions of each auction and those of privacy and data protection, regulate the legal relationship that is established in the contracting process that is carried out between the Bidders and/or Awardees that will be applicable to the sale of assets carried out by INTERNATIONAL AUCTION GROUP, S.L.U. ("IAG" or "Specialized Entity") through its web platform located at www.iagauction.com, who, by designation of the property of the real estate (the "Property" or the "Bankruptcy Administration") or in its own name, will carry out the sale of the assets (real or personal property and rights) to the Bidder ("The Bidder"), who, once the asset/s are awarded to him/her will become the Awardee ("The Awardee"). All other conditions, whether explicitly or implicitly expressed in common or special law that contradict these conditions, are hereby excluded. These General Terms and Conditions govern the sale of assets by auction from insolvency proceedings or other legally stipulated disposal or liquidation procedures. As a result of the above, assets that have not been subject to insolvency proceedings may be sold, either by auction or by private treatment, in which case these General Conditions of Sale shall apply and must be complied with (with the exception of those specifically referring to the insolvency administrators), informing, where appropriate, of the applicable Special Conditions of Sale.

 

2 Automatic acceptance. Being a Bidder/Assignee at www.iagauction.com, implies that you acknowledge having read and accepted the General and Special Conditions of Sale established therein, and in accordance with Law 34/2002, of 11 July, on Information Society Services and Electronic Commerce, prior to their possible award, with the necessary notice, information on the General and Special Conditions of Sale has been provided on the website of the Specialised Entity, in a true, effective and complete manner, and you submit to them. This service, its platform and web page are the property of the commercial entity INTERNATIONAL AUCTION GROUP, S.L.U., of Spanish nationality, with its registered office in Badalona, Barcelona, Calle Electrónica, number 19, 5th floor, door A, registered in the Commercial Register of Barcelona on Folio 67, of Volume 42,661, Page B-406,120.

 

3 Participants. Any natural person, provided they are of legal age and legal entities, duly constituted in accordance with the corresponding legislation, may participate in the auction. Any other type of natural or legal person: creditors with special privileges, public organizations, financial or related entities that have been part of the tender. All participants in the auction (including creditors with privileges over the auctioned goods) will be obliged to accept, comply with the conditions of the auction and pay the commission of the Specialised Entity or "Buyers Premium".

 

4 Stored data. In accordance with Law 34/2002, of 11 July, on Services of the Information Society and Electronic Commerce (Annex, section a) 2º, the organisation and management of auctions by electronic means, the specialised entity does not guarantee nor respond for the data stored at the request of the interested parties, provided that they do not have effective knowledge that the information stored is illicit or that it damages goods or rights of third parties susceptible to compensation.

 

5 Waiver of right of withdrawal. Being a Bidder/Assignee in www.iagauction.com, implies that you expressly waive the right of withdrawal of any lot according to the RD 1906/1999.

 

6 Bankruptcy proceedings.

The Specialised Entity is dedicated to promoting activities related to the online auction of assets of individuals, entrepreneurs and non-entrepreneurs, commercial companies and other entities arising from insolvency proceedings, pursuant to articles 149 of the Insolvency Act of 2003, (amended by RD-Law 11/2014), 43 of the same Act, arts. 415 et seq. of RDLeg. 1/2020 of 5 May of the Consolidated Text of the Insolvency Act, art. 15 of RD 16/2020, art. 10 of Law 3/2020 and article 641 of the Civil Procedure Act. In this regard, it may happen that some of the auctions are governed by a specific Liquidation Plan, which may be changed by the corresponding insolvency administrators or by judicial ruling, or even that express judicial authorisation may be required before or after the auction. In this case, information shall be provided in the Special Conditions of the auction in question. Furthermore, the Specialised Entity shall not be liable for any charges or encumbrances on the assets that have not been duly reported by the insolvency administration and/or the relevant court. The legal texts of the various insolvency proceedings as well as any other texts referring to the assets included on this website have no legal content or official character and are solely for information purposes. The Specialised Entity and the Insolvency Administration decline any responsibility for their inaccuracy, and Bidders and successful bidders must refer to the legal texts that appear in the different courts, and therefore are not responsible for any damage that may be caused as a result of inaccuracies or errors in them. The insolvency administration or the property has expressly authorised the Specialised Entity to publish on this website the technical file of each asset, as well as any relevant data (including photographs of the same) and the liquidation plan or judicial document (liquidation plan or addendum to the same) where it is included. Without prejudice to the foregoing, any Bidder may request additional information on the asset subject to auction. The staff of the Specialised Entity is at the disposal of interested parties to provide any clarification they may request on any of the properties at the telephone number and contact details provided on the website. Depending on the availability of the Specialised Entity's staff, as well as on the remaining auction time, visits to the property being auctioned may be made upon request. The fact of not having visited the property may not be used as an argument by the successful bidder in the event of disagreement with the state of the property. 

 

7 Acceptance of physical and legal condition. It is understood that the bidders have expressly accepted the physical and legal condition of the property subject to the auction, including the express knowledge of the terms described in the liquidation plan of the bidder, from the moment of its intervention in the public sale process, the bids being irrevocable.

 

8 Non-consumer public. The Specialized Entity is an expert in promoting activities related to the online auction of assets destined for individuals or legal entities not considered as consumers and within the framework of a business or professional activity, for which reason the General Law for the Defense of Consumers and Users and other complementary laws shall not apply.

 

9 Binding powers. La Entidad Especializada puede a su criterio o a instancias de la administración concursal o de la propiedad de los activos: a) Cambiar, cancelar o retirar todos o cualquiera de los lotes listados en cada subasta hasta el momento de la venta, esto es, cuando la Entidad Especializada adjudique el lote en cuestión durante la Subasta así como posteriormente a la adjudicación por existir alguna traba o impedimento. b) Suspender la subasta por motivos justificados y/o en caso de recibir una oferta por el conjunto de activos objeto de Subasta o por la mayor parte. c) Detener la Subasta para requerir depósito a un Licitador y/o Adjudicatario. d) Cuando se ha asignado un precio de reserva en cualquier lote, retirar dicho lote si la oferta más alta no alcanza el precio de reserva. e) Cuando dos o más lotes consecutivos son similares en cantidad y características, ofrecer los lotes siguientes al Licitador del primero por el mismo precio. f) Pujar por cualquier lote o lotes ofrecidos a la venta en la Subasta. g) Bloquear y dejar sin participar en cualquiera de las subastas a Licitadores que en el pasado no hayan cumplido con sus obligaciones y hayan omitido o infringido las condiciones establecidas por la Entidad Especializada. En el momento en que se bloquee un Licitador, éste no podrá seguir utilizando el portal web de la Entidad Especializada ni registrarse de nuevo directa o indirectamente a través de otro nombre sin una autorización expresa de IAG, sin perjuicio de las responsabilidades a las que pueda incurrir.

 

10 Registration. In order to be able to bid on properties, bidders must register as a user, following the instructions on the IAG website by entering their data in the registration form. In order to ensure a real and certain interest in the acquisition of the property by any participant in the auction and to avoid fraudulent bids, the data of the credit or debit card of the interested party (name of the holder, expiration date, card number and security code) may be required in the registration form. The Specialised Entity will not make any charge or block any amount on the card provided. Once completed, the interested parties must accept these General Conditions of Sale as well as the Special Conditions for each auction, if any. The auctions will be on-line, so bids may only be made on the web, in the manner provided and during the period in which the auction lasts. Bids made by e-mail, telephone, fax or post will not be accepted. Once registered, users will be able to participate in auctions that are of interest to them. The real estate to be auctioned shall be published on the website of the Specialised Entity, indicating the time pending for the end of the auction, as well as the last price expected to be awarded. The initial time and the minimum price of the auction shall be determined by the Specialised Entity individually for each of the properties, and may not coincide in all of them. In the case of foreign buyers, not resident in Spain, it will be possible to request that at the time of Auction Registration they provide, preferably, a bank guarantee.

11 The bidding system. The bidding system shall be regulated by the Specialised Entity in the manner that it deems most appropriate and, without prejudice to the above, it may refuse to accept any bid, provided that there are indications, subjectively assessed by the Specialised Entity, that it cannot comply with the Sale Conditions, without justification being required and also bid on its own behalf even if it is in the interest of a third party. Registered users who wish to participate in the auction may enter the economic amount (bid) they deem appropriate at any time and within the time of the auction, which shall increase in accordance with the bids made by the other users, indicating the maximum bid placed on the website. The maximum bid shall be increased by a minimum amount that shall be set by the Specialised Entity for each property (reserve price). Bids that do not exceed the minimum amount will be rejected. Bidders may make all the bids they consider appropriate as long as they are made in good faith and with due diligence. The Specialised Entity may request the ratification of the bids made, in order to avoid the irregular use of the auction service.

 

12 Award to the highest bidder and disagreements: Once the time of the auction has finished and the result of the auction has been accepted by the administration of the bankruptcy or the property, the property shall be awarded to the highest bidder, that is, to the last maximum bid made, which shall be the Awardee. Any difference that arises between the users of an auction will be settled by the Specialised Entity.

 

13 Deposit: the Specialised Entity reserves the right to request the constitution of a deposit from the various Bidders as a condition prior to the start of the auction. The effective registration of the interested parties shall take place once the effectiveness of the transfer received has been verified and the full amount required is available in the current account of the deposit recipient. Failure by the Auctioneer to make a prior payment and record of payment into the account under the conditions announced shall imply the impossibility of participating in the bidding on the object of the auction, and bids made by Bidders who have not complied with this condition shall not be taken into account. Once the auction has ended and the bid made has been accepted by the owner or the insolvency administration of the properties, the Specialised Entity shall return the amounts of the deposits to the different Bidders, except for the winning Bidder, the successful Bidder, whose deposit shall be used to pay the amounts due. Payment of the deposit shall only be accepted by cheque or certified cheque for residents in Spain. Non-residents must pay the deposit by cheque or bank transfer. 

Translated with www.DeepL.com/Translator (free version)

 

  1. Auction assignment and registration in favour of a third party: In the event that the successful bidder notifies the Specialised Entity that it wishes to transfer its right to award the contract to a third party, whether an individual or a legal entity, and the bankruptcy administration or the property accepts this modification, it will inform the Specialised Entity so that the invoice can be modified with regard to the fees payable by the different user-awarding party.

 

15 I pay fees: The successful user expressly assumes the obligation to pay the fee to the Specialized Entity, which will be that indicated on the same auction website, adding this amount to the sale price plus the corresponding taxes. The amount for which the property is awarded shall in no case include state, regional or local taxes that record the transfer, nor shall it include management, notary, registration, transport or any other expenses inherent in the transfer, which must be paid in accordance with the law. Once the result of the auction has been accepted by the bankruptcy administration or the property, the user who is going to be awarded the property will be obliged to settle the amounts relating to the fees and applicable VAT that correspond to the Specialised Entity. Payment shall be made by transfer to the bank account indicated on the invoice and, exceptionally, by bank cheque made out to the Specialised Entity on the day following the notification of acceptance of the auction result by the bankruptcy administration or the property and before it is recorded in the public deed. In this way, the Awardee who has been awarded one or more lots shall pay the Specialised Entity a fee for Buyer's Premium indicated on the auction website, added to the total amount of the award; To the resulting amount shall be added the relevant taxes at the current rate and in particular the I. V.A. that corresponds. The Buyer's Premium is not negotiable and must be paid by all successful bidders. If the amount of the fees for Buyer's Premium varies, it will be specified in the Special Conditions of each auction. The Specialized Entity, when it acts by designation of the property or the bankruptcy administration, may also receive a remuneration from them.

 

16 Public deed and non-payment of the price. Once the result of the auction has been accepted by the bankruptcy administration or the property administration and the property has been awarded, the transfer will be carried out in the manner provided for in the Settlement Plan or as decided by the bankruptcy administration or the property administration. The transfer will be formalised by means of a public deed of sale within a maximum period of 1 month from the aforementioned award. The Awardee shall have the right to choose a Notary Public, without being able to impose a Notary Public who, due to his or her territorial competence, lacks a reasonable connection with any of the personal or real elements of the purchase-sale business. In the exceptional event that, when the time comes to execute the public deed, the auctioned property has any pending charge to be cancelled or the registration procedures have not been completed, the subscription of the deed shall be extended for a period of 60 days, renewable for consecutive periods with a maximum of two years. The user who has made the maximum bid is obliged to complete the sale of the property under the terms indicated in these conditions. The maximum bid accepted by the bankruptcy administration or the property will have the legal status of a Purchase Contract, and failure to comply with this will entitle the Specialised Entity to take legal action to claim damages against the successful bidders who do not complete the purchase. In the event of failure to pay the total amount during the time established in the Special Conditions of the Auction, the Specialised Entity reserves the right to: a) Claim payment and effective fulfilment of the sale and purchase carried out by means of public auction, adding to this amount the legal interest on the money and establishing a new payment period. In the event of definitive non-compliance, the Specialised Entity may claim payment of 25% of the price of the asset as damages. b) Claim payment of the intermediation costs (Buyers Premium) from the highest bidder and award the contract to the second highest bidder. In any case, the price of the intermediation fees must be paid in full once the result of the auction is accepted by the bankruptcy administration or the property.

 

17 Unpaid Buyer's Premium. In the event that the Awardee does not proceed to the payment of the awarded assets within the stipulated period (including Buyer's premium and V.A.T. ), under the terms and on the dates indicated, the Specialised Entity shall have the option of: a) unilaterally cancelling the award, losing all rights over the items awarded either by way of ownership, possession or any other similar right, including any type of payment on account, deposit, deposit or signal made, automatically returning to the ownership of the property or bankruptcy administration, without the Awardee being able to claim from the Awardee or the Specialised Entity for this reason. In this case, the Specialised Entity may claim compensation for damages, the loss of profit that it has ceased to receive and the amount of the commission that corresponds to it. b) To oblige compliance with the award in the amount and form stipulated, plus all those expenses incurred for this reason either directly or indirectly as well as those costs that it causes to third parties related to the auction, including the Buyer's Premium. 

 

18 Liability and exclusions. The Specialised Entity shall not be liable for delays in access, delays in the system or any anomaly that may arise in relation to problems of a general nature in the Internet network, causes of fortuitous event or force majeure or any other totally unforeseeable contingency and therefore alien to the good faith of the company. The Specialised Entity is not responsible for errors in connections, fortuitous cases and force majeure, nor does it guarantee the continuity of the website or take responsibility for interruptions to its service. The Specialised Entity will communicate, whenever possible, of the interruptions of the service and the continuity of the website. Likewise, it shall not be liable for any failures that may occur in communications, deletion or incomplete transitions due to these causes, so that it does not guarantee that the website will be operational at all times when this is due to issues not attributable to the Specialised Entity that it cannot resolve with the means available to it. The Specialised Entity undertakes to try to solve these incidents by putting all the means at its disposal and offering all the necessary support to the different users to solve the incidents as quickly and satisfactorily as possible. Whenever reasonable, the Specialised Entity will give prior warning of any interruptions in the operation of the website and any of its services. The Specialised Entity shall not be liable for what happens to other people's computer equipment, and users must take the appropriate security measures to protect the information hosted on them and to avoid loss or damage caused by downloads from the website of the Specialised Entity

 

19 Modifications. The Specialised Entity, in order to improve the services and products offered, may modify these General Sales Conditions by notifying users through the website. Likewise, it reserves the right to modify the applications of its website in any way.

 

20 Assumption of risk. The Awardee shall assume all the risks that fall on the property from the moment of acceptance of the result of the auction by the bankruptcy administration or the property and award, and is especially recommended to insure the property acquired immediately. At the aforementioned moment of the sale, the Awardee assumes all risks in relation to the acquired lots that may arise thereafter, and is advised that it is advisable to have the aforementioned insurance policies in place as they are deemed necessary. The obligation of the property or of the bankruptcy administration to deliver the lots will be understood to have been fulfilled at the time the award is made, even in the event that the lot is subsequently damaged and/or lost in whole or in part.

 

21 Essential conditions. The ownership of each lot will not be transferred to the Awardee until the following conditions have been met: (i) the result of the auction is accepted by the bankruptcy administration or the property and (ii) the price is paid in full on the dates indicated as well as the Buyer's Premium fees.

 

22 Information Dissemination. The Specialized Entity carries out dissemination and mediation for the sale and/or auction of assets that may come from individuals or legal entities that have been declared in bankruptcy, and in the same way with respect to non-bankrupt assets. With regard to the assets that come from entities declared in insolvency proceedings and have been included by the insolvency administration in the corresponding liquidation plan and its possible addenda or those that come from companies that wish to sell them, the Specialised Entity, with prior authorisation from the property, insolvency administration or authorised persons, will publish photographs of the assets advertised on this portal, as well as display any data that may be necessary for the bidders to have a greater knowledge of the physical and legal state in which they are located. All this data will be displayed on the web platform of the Specialised Entity, without prejudice to the error, inaccuracy or falsehood in its data or description for which it is not responsible. The legal texts of the various insolvency proceedings, as well as any other texts referring to the assets included in this website, lack legal content and are of an official nature, having only informative and informative content. The Specialised Entity declines any responsibility for their inaccuracy, and Tenderers must refer to the legal texts that appear in the various courts, and therefore cannot be held responsible for any damages that may be caused as a result of inaccuracies or errors in these texts.

 

23 Jurisdiction. In the event that discrepancies arise between the parties due to the auction operations, renouncing any other jurisdiction that may correspond, IAG and the Bidders and/or successful bidders submit to the Jurisdiction of the Courts and Tribunals of Barcelona.

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