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

1 These General Conditions of Sale regulate all the operations applicable to the sale of assets carried out by INTERNATIONAL AUCTION GROUP, S.L.U. both by private treaty (to which reference is made in the corresponding invoice) and by auction. Likewise, these General Conditions of Sale, together with the Special Conditions of each auction and the privacy and data protection conditions, regulate the legal relationship established in the contracting process carried out between the Bidders and/or Successful Bidders that shall be applicable to the sale of assets carried out by INTERNATIONAL AUCTION GROUP, S.L.U. ("THE AUCTIONEER" or "IAG") through its web platform located at www.iagauction.com, who, as a Specialised Entity appointed by "THE SELLER" or on its own behalf, shall carry out the sale of the assets (movable or immovable property and rights) to the Bidder ("THE BIDDER"), who, once the assets are awarded, shall become the Successful Bidder ("THE SUCCESSFUL BIDDER"). All other conditions, whether explicitly or implicitly expressed in common or special law, which contradict the present conditions, are hereby excluded. In these ways, the same conditions shall be applicable and binding for the sale of assets in private dealings with respect to any purchaser, subrogating and acquiring the position of the Bidder/Allottee in all obligations stipulated with respect to the same.

 

2 Being a Bidder/Awardee at www.iagauction.com, implies that you acknowledge having read and accepted the conditions established therein, and in accordance with Law 34/2002, of 11 July, on Information Society Services and Electronic Commerce, prior to your possible award, with the necessary advance notice, you have provided on the Auctioneer's web portal, in a truthful, effective and complete manner, information on the General and Special Conditions of Sale and you submit to the same. This service, its platform and website is the property of the trading company INTERNATIONAL AUCTION GROUP, S.L.U., of Spanish nationality, with registered office in Badalona, Barcelona, calle Electrónica, number 19, 6th floor, door A, registered in the Companies Register of Barcelona, Folio 67, Volume 42.661, Page B-406.120.

 

3 Pursuant to Law 34/2002, of 11 July, on Information Society Services and Electronic Commerce (Annex, section a) 2, the organisation and management of auctions by electronic means, the Auctioneer does not guarantee nor is it responsible for the data stored at the request of the interested parties, provided that it has no effective knowledge that the information stored is illicit or that it harms the property or rights of third parties liable for compensation.

 

4 Being a Bidder/Awardee 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 arising from bankruptcy proceedings, pursuant to articles 415 et seq. of RDLeg. 1/2020 of 5 May of the Consolidated Text of the Bankruptcy Law, art. 15 of RD 16/2020, art. 10 of Law 3/2020, Law 3/2020 of 18 September, RD Law 5/2021 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 Auctioneer 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.

 

6 The Auctioneer specialises in promoting activities related to the management, sale and purchase and the online auction of assets intended for natural or legal persons not considered as consumers and within the framework of a business or professional activity, and therefore 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 Seller's request:

 

  1. a) Change, cancel or withdraw all or any of the lots listed in each auction up to the time of sale, i.e. when the Auctioneer awards the lot in question during the Auction as well as after the award due to any hindrance, impediment or for supervening reasons.
  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 Successful Bidder or not to admit the bids of a Bidder and/or Successful Bidder who has not complied with the obligation to make a deposit or with the presentation of the documents required in compliance with the law on money laundering.
  4. d) When a reserve price has been assigned in any lot, withdraw such lot if the highest bid does not reach the reserve price.

(e) Where two or more consecutive lots are similar in quantity and characteristics, offer subsequent lots to the Bidder of the first lot at the same price.

  1. f) Bid for any lot or lots offered for sale at the Auction.
  2. g) To block and stop Bidders who in the past have not complied with their obligations and have omitted or infringed the conditions established by The Auctioneer from participating in any of the Auctions. Once a Bidder is blocked, it may no longer use the Auctioneer's website or register again directly or indirectly under another name without the express authorisation of IAG, without prejudice to any liabilities it may incur.
  3. h) Not to proceed with the award and subsequent sale of the lot or lots in the event of failure to provide the documentation and complete the information required in the cases that the Auctioneer considers necessary in application of the provisions of the Law on the Prevention of Money Laundering and the Financing of Terrorism.

 

8 Each lot must be sold to the highest Bidder and in the event of any dispute arising between Bidders it will be resolved at the Auctioneer's discretion.

 

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

 

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 subjectively assessed indications by the Auctioneer, that it cannot comply with the Conditions of Sale, without justification being required, and also bid in his own name even if it is in the interest of a third party.

 

11 The successful bidder who has been awarded one or more lots of movable property or movable assets shall pay the Auctioneer a fee of 18.5%, and in the case of immovable property 5% as Buyer's Premium, on the total amount of the award or, where applicable, those specified in the Special Conditions (if not mentioned in the Special Conditions, the provisions of the General Conditions shall apply); to the resulting amount shall be added the relevant taxes at the current rate and in particular the applicable V.A.T. (VAT). V.A.T. The Buyer's Premium is non-negotiable and must be paid by all successful bidders through the Webcast System. Should the amount of the Buyer's Premium fees vary, it shall be specified in the Special Conditions of each auction. The Auctioneer, when acting as agent for the Seller, may also receive a fee from the Seller.

 

12 The Auctioneer may require Bidders to pay a deposit at any of the auctions or sales by private treaty that it carries out. The requirement of the deposit implies, inexcusably, that the Bidder who wishes to bid, prior to placing his bid, must have made a deposit in the account designated and for the amount that appears in the special auction conditions, with the Auctioneer's payment being recorded in the account, and a proof of payment of the deposit by the Bidder shall not be valid. Any bids placed by the Bidder without having paid the deposit or not being recorded in the Auctioneer's account shall not be valid and shall be deemed not to have been placed. Once the auction has ended, in the event that the Bidder is not awarded the asset or assets for which he/she has bid, the deposit shall be returned to him/her by bank transfer to the same account from which the initial transfer was made, within the period indicated in the special conditions of the auction. In the event that the bidder is successful, the deposit shall be used as part of the price of the property awarded. In the event that, once the auction has ended, the successful bidder states that he/she does not wish to continue with the awarding process or does not attend the execution of the public or private documents necessary for the transfer of the property and payment of the price, regardless of demanding the appropriate liabilities for non-compliance of the aforementioned highest bidder (in the manner established in the rules and conditions of participation in the auction), the next highest bidder in the auction held may be declared the successful bidder, in the order of their respective bids. As for 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, where appropriate, of the claim arising from the Seller and/or the Auctioneer in charge of the sale or auction, the amount of the stipulated fees must be paid to the specialised entity, without prejudice to the stipulations of conditions 13 and 14. Those who request gifts or promises not to take part in a public tender or auction; those who try to keep bidders away from it by means of threats, gifts, promises or any other artifice; those who conspire among themselves with a view to altering the auction price, or those who fraudulently break or abandon the auction after having obtained the award, shall be punished by imprisonment for a term of one to three years and a fine of 12 to 24 months, as well as special disqualification from bidding in judicial auctions for a term of three to five years.

 

13 Immediately after the award, the Auctioneer shall require the successful bidder to pay in full for the lot(s) awarded, by cash, transfer, bank cheque or certified cheque. No cash payments in excess of €1,000 shall be accepted in accordance with Law 11/2021, on measures to prevent and combat tax fraud. No cancellation or waiver of the award will be accepted. In the event of not paying the total amount during the time established in the Special Conditions of the Auction, the successful bidder shall pay a penalty of 25% to 50% of the price of each of the lots that have been awarded, the Auctioneer having the option of requesting as much information as necessary in relation to the identity and address/head office of the company. The Auctioneer may also request such documentation and information as it deems necessary in application of the Law on the Prevention of Money Laundering and the Financing of Terrorism. The amount resulting from the aforementioned shall be delivered to the Auctioneer as a deposit on account of the total amount of all the lots acquired by the successful bidder in the sale, providing proof of the amount paid as well as the lot(s) awarded. The remaining amount, of the total invoice amount of the awarded lot(s), shall be payable to the Auctioneer before the maximum date set in the Special Conditions of Sale of the Auction.

14 In the event that the successful bidder does not proceed with the payment of the awarded assets within the stipulated term (including Buyer's premium and V.A.T.), in the terms and dates indicated or does not provide the documentation and information requested in accordance with the provisions of the Law on the Prevention of Money Laundering and Terrorist Financing, the Auctioneer shall have the option to:

 

  1. a) unilaterally rescind the award, losing all rights over the awarded items whether by way of ownership, possession or any other similar right, including the deposits made, automatically returning to the ownership of the Vendor, without the Awardee being able to claim against the former or the Auctioneer for this reason. In this way, in the event that a payment on account, deposit, down payment or payment of any kind has been made by the successful bidder and the latter has not proceeded to pay the rest within the stipulated period, both in the case of auction and in private dealings, the Auctioneer/Seller shall keep the amount received as compensation for the damages caused, and the defaulting bidder shall also bear all the expenses incurred in such circumstances. Likewise, in the event of failure to make any payment on account, deposit, down payment or payment of any kind by the successful bidder, and without prejudice to the provisions of 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 the fulfilment of the award in the amount and form stipulated, plus all expenses incurred for this reason, whether directly or indirectly, as well as any costs incurred by third parties in connection with the Auction.

 

15 Payment of the deposit will only be accepted by bank transfer, cheque or certified cheque for residents in Spain. Non-residents must pay the deposit by cheque or bank transfer.

 

16 All lots must be removed by the successful bidder 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 fixed in the Special Conditions of the Auction, this being an essential condition of the contract.

 

17 In the event that the successful bidder does not proceed with the withdrawal of the assets, on the terms and dates indicated in these conditions and in the Special Conditions of the Auction, the Auctioneer shall have the option to:

 

  1. a) unilaterally rescind the award, losing all rights over the awarded items, whether by way of ownership, possession or any other similar right, including the deposits made, automatically returning to the ownership of the Vendor, without the Awardee being able to claim against the former or the Auctioneer for this reason. In this way, in the event that a payment on account, deposit, down payment or payment of any kind has been made by the successful bidder and the latter has not proceeded to pay the rest within the stipulated period, both in the case of auction and in private dealings, the Auctioneer/Seller shall keep the amount received as compensation for the damages caused, and the defaulting bidder shall also bear all the expenses incurred in such circumstances. Likewise, in the event of failure to make any payment on account, deposit, down payment or payment of any kind by the successful bidder, and without prejudice to the provisions of 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 the fulfilment of the award in the amount and form stipulated, plus all expenses incurred for this reason, either directly or indirectly, as well as all costs incurred by third parties in connection with the Auction.

 

18 The successful bidder may only remove the lots from the Vendor's premises or the place where they are located, provided that he does so within the maximum period 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 Auctioneer or his representatives.

19 The successful bidder may not remove any purchased lot from the premises until he/she has paid all the amounts due as stipulated in these conditions within the stipulated period. Otherwise, even if payments on account of any kind have been made, the successful bidder shall lose any right to the same, and the auctioneer/vendor shall be free to dispose of the same, taking into account conditions 14, 17 and 18 in particular.

 

20 If, in the opinion of the Auctioneer, the removal of any lot or part thereof would cause serious damage to the Vendor's premises or any damage of any kind which the Bidder is unable or unwilling to repair, the Auctioneer may, at its sole discretion, cancel the sale of that lot or permit its removal from the premises on such conditions as it may deem appropriate.

 

21 The successful bidder shall carry out the procedure of access and removal of assets with due diligence. In terms of occupational risk prevention, the successful bidder shall carry out the removal of assets by trained personnel, under the terms of the Law on Prevention of Occupational Risks Act 31/1995, for such tasks. In the event of being carried out by personnel from outside the successful tenderer, the latter will be informed of the obligation to comply with the regulations on the prevention of occupational risks, and especially on the coordination of business activities, in the terms of Article 24 of Law 31/1995, developed by the Royal Decree 171/2004 as a concurrent company. The Vendor will facilitate access to the location of the assets to the successful bidder during the time announced in the special conditions. The Vendor and the successful bidder are responsible for carrying out the opportune coordination of business activities in the terms established in article 24 of Law 31/1995 and the Royal Decree 171/2004 that develops it. The Vendor expressly exempts the Auctioneer from any responsibility regarding the prevention of labour risks and compliance with the coordination of business activities, as well as any responsibility regarding the removal of the assets, cleaning and management of any type of waste, especially those considered toxic or damaging to the environment, if any.

Consequently, in terms of occupational risk prevention, the successful bidder shall be responsible for carrying out the dismantling and removal of the machinery by trained personnel, under the terms of the Occupational Risk Prevention Law 31/1995, for such tasks. The Auctioneer does not assume in any case the ownership of the installation or the evaluation of the same, it being the responsibility of the successful bidder to obtain the necessary information from the owner of the installation in the presence of risks in the installations themselves that may affect the assembly and removal of the machinery.

By way of example and in a non-exhaustive manner, the Auctioneer or the Vendor may require the successful bidder that in the procedure of accessing and removing the assets, the regulatory regulations on risk prevention and occupational health and safety are complied with, and in: (1) Prior identification of persons and/or clients of the Purchaser who are going to access the industrial site with a minimum of 1 working day in advance, (2) Exhibit of obligatory documents in relation to the persons in order to comply with the provisions of the Law of Prevention of Risks at Work (31/1995, of 8 November) art. 24 on coordination of business activities: List of workers who are going to carry out the works. Photocopy of the ID cards; Photocopy of the current contract with an external Prevention Service (including the types of contract) and if it has its own Prevention Service, name and surname of the Senior Technician in Occupational Risk Prevention; Document of association with a Mutual Accident Insurance Company; Risk Assessment and preventive measures specific to its activity; Records stating that the workers who are going to carry out the operations have received specific training and information, according to the work they are going to carry out, on the subject of occupational risk prevention; List of workers with the capacity to use machinery (forklift, etc.), certificate of training in the use of said machinery; Certificates of fitness for work issued by the Health Surveillance Service confirming that the workers who are going to carry out the operations are fit for the job; Copy of the social security settlements, model TC1 and TC2 (failing this, model TA. 2 ); Certificate from the General Treasury of the Social Security of being 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 personal protective equipment (PPE) necessary to carry out the activity. In the event of non-compliance with the corresponding regulations, the Auctioneer shall be entitled to the provisions of clause 17.

 

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

 

23 The successful bidder shall be liable for any damage that he, his carriers or his agents may cause to property belonging to third parties (and particularly to the Vendor's premises) when removing the lot(s) he has purchased. In the event that the Auctioneer believes that such damage may occur, he may require the successful bidder to make available to him a sum of money to cover the estimated costs of repairing the damage foreseen by the Auctioneer. If the successful bidder refuses to make this deposit, the Auctioneer may prevent the successful bidder from accessing the premises for the purpose of removing some or all of the lots as provided for in clause 17.

 

24 In the event that the successful bidder fails to comply with any of the above requirements, the lot or lots awarded to him or part of them may be awarded to the second highest bidder or may be offered for sale again, destroyed or put to any other use decided by the Auctioneer at his discretion.

 

25 Without prejudice to any legal action that the Auctioneer and/or the Seller may initiate against the Bidder/Awardee for breach of contract or other causes, the Successful Bidder shall be responsible, from the end of the period of the deadline for removal of the assets stipulated in the Special Conditions of the Auction, for all storage, administration and other costs arising from the re-sale and/or disposal of the assets not removed.

 

26 The successful bidder shall bear all risks from the moment of the award, and it is especially recommended that he/she insure the purchased assets immediately. At the aforementioned moment of sale the successful bidder assumes all risks in relation to the purchased 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 Auctioneer and/or the Seller to deliver the lots shall be deemed to have been fulfilled at the time of the awarding of the contract, even if the lot is subsequently damaged and/or lost in whole or in part.

 

27 Ownership of each of the lots shall not be transferred to the Successful Bidder until the following conditions have been fulfilled: (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 The Vendor and the Auctioneer shall not be liable for any claim of any kind, whether in contract or in tort (excluding claims in respect of injury to persons caused by the negligence of the Vendor or the Auctioneer), made by the successful bidder, due to and/or arising for any reason whatsoever, in connection with the sale or purported sale of all or any of the assets for any sum exceeding the amount of the deposit or the purchase price (as the case may be) paid by the successful bidder in respect of the assets to which the claim relates.

 

29 The Auctioneer carries out dissemination and mediation for the sale and/or auction of assets that may come from natural or legal persons that have been declared bankrupt, and likewise in respect of non-bankrupt assets. With regard to assets originating from entities that have been declared in insolvency proceedings and have been included by the insolvency administration in the corresponding Liquidation Plan and its possible addenda or those originating from companies that wish to dispose of them, the Auctioneer, with the prior authorisation of the Sellers or the Auctioneers, shall be responsible for the sale and/or auction of the assets, with the prior authorisation of the Sellers or authorised persons, shall publish photographs of the goods advertised on this portal, or on other portals or professional platforms which are common in the market for the sale and purchase of goods, as well as displaying any data necessary for the Bidders to have a better knowledge of the physical and legal state in which they are found. All this information shall be displayed on the Auctioneer's web platform, without prejudice to any error, inaccuracy or falsehood in its data or description for which it shall not be held responsible. The legal texts of the various insolvency proceedings and any other texts relating to the assets included on this website have no legal or official content and are solely for information purposes. The Auctioneer declines any responsibility for their inaccuracy, and Bidders must refer to the legal texts that appear in the different courts, and therefore is not liable for any damages that may be caused as a result of inaccuracies or errors in them.

30 In accordance with the above, all goods are sold as a certain body, and therefore, as, how and where they are, in the physical and legal state in which they are found, the buyer expressly waiving any claim for hidden defects, sanitation or eviction, with all faults and imperfections and errors of description, illustrations / photos that appear in the listing of the web platform are only intended to assist in the identification of the lots or goods subject to sale. The Auctioneer has made every effort to ensure that the descriptions of each lot are correct, but the successful bidder and any buyer accepts those descriptions at their own risk. The Bidder/Allottee and any purchaser is therefore advised, prior to sale by Auction or private treaty, to inspect all lots/goods for which he intends to bid/purchase for accuracy of description and should exercise and rely on his judgement as to the correctness of the lot descriptions. None of the lots listed on the web platform are sold as new, except where specified. Except for the obligations accepted by the Auctioneer in these conditions of sale, neither the Seller, nor the Auctioneer nor their employees or agents are liable for any errors of description or authenticity of any of the lots, nor for any loss, damage or injury which Bidder/Auctioneer may claim to have suffered as a result of a defect in any lot purchased. Further, neither the Seller, the Auctioneer, nor their employees or agents give any warranty to the Seller in respect of any lot and any conditions or warranties, whether express or implied, are hereby excluded. Likewise, any bureaucratic, administrative or judicial delays that the formalities involved in the transfer of the property or its registration with the relevant bodies may entail shall in no case be the responsibility of the Specialised Entity, nor shall they be grounds for termination of the transfer.

 

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

 

32 The Seller and the Auctioneer are hereby released respectively from any liability for any accident or damage suffered by any person or persons who may gain access to the premises for the purpose of attending the Auction, or to inspect, purchase or remove any lot or for any other purpose.

33 The Auctioneer or person representing him/her may bid during the auction for any lot for sale.

 

34 The successful bidder may not require the delivery of the lots outside the times and dates established in the Special Conditions of the Auction once payment of the total amount has been made. The withdrawal period shall be mandatory without prejudice to any relevant circumstances that may arise such as natural circumstances or catastrophes, any suspension or failure of essential services, serious disturbances or social unrest, strikes or other similar actions, or any impediment to normal delivery that is beyond the control of the Seller or the Auctioneer. Neither the Vendor nor the Auctioneer shall be required to incur at their own expense any expenses to overcome the aforementioned impediments unless the successful bidder provides the necessary funds for this purpose. The Auctioneer shall not be obliged to undertake any legal proceedings aimed at overcoming the aforementioned impediments to the delivery of the lots when in the Auctioneer's opinion they may aggravate the problem or harm its own reputation or prestige.

 

35 The Bidder/Awardee acknowledges being aware that any software or intellectual property rights accompanying a lot or lots may not be owned or transferred by the Vendor and that neither the Vendor nor the Auctioneer in any way authorises the use by the successful bidder of such software or intellectual property rights and that making any use of such software or exploitation of such intellectual property rights shall be the sole responsibility of the successful bidder.

 

36 The Bidders/Awardees 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 in accordance with the regulations in force in the EEC or may not be adapted to the applicable regulations on prevention of occupational hazards for use when in operation, expressly exonerating the Auctioneer in these conditions from any liability in this regard. Bidders are recommended to ensure, with regard to possible purchases of such installations, machinery or equipment, under their sole responsibility, that the use to which the goods purchased will be put does not contravene the aforementioned regulations.

 

37 All Tenderers are expressly warned that certain types of installations or materials may contain chemical, toxic or hazardous substances which could, if not handled correctly during their removal from the installations, infringe the regulations applicable to the use of such substances. If the removal of waste is necessary, it must be carried out by authorised and approved companies. The successful bidder shall be responsible for the diligent removal of the aforementioned substances at his own expense and shall comply with the applicable laws and regulations regarding the removal/disposal of waste, including hazardous waste, and the Auctioneer/Seller may require documentation from him regarding the procedures for the removal/disposal of such waste.

Furthermore, the successful bidder is responsible for taking precautions with regard to occupational and environmental safety and complying with their requirements when carrying out the described tasks, expressly exempting the Auctioneer/Seller. Thus, the dismantling of the assets shall be carried out by the successful bidder in compliance with the environmental requirements and the technical requirements imposed for this purpose by the competent ministry, provincial delegation or bodies, and it shall be the responsibility of the successful bidder to obtain, if necessary, any permits, licences and/or authorisations that may be required, and without any deductions in the price, any expenses or, in general, any claims of any kind on account of the aforementioned.

 

38 When the successful bidder performs the work of loading and removal of any item, machine or equipment that is part of a lot or lots to be removed from where they are located, the Auctioneer shall have no liability to the successful bidder or other third parties for any damage caused by the removal; the successful bidder shall be liable for the damage or damage caused and to indemnify the Auctioneer/Seller for any damage or loss that the Auctioneer/Seller may suffer or incur in respect of loss, damage or injury suffered by its employees or third parties that were caused by the removal of plant, machinery or equipment. The successful bidder shall indemnify the Auctioneer/Seller against any loss or damage affecting the Auctioneer/Seller which may be attributable, directly or indirectly, to the nature of the item, machine or equipment purchased by the successful bidder whether due to breakage, rust, drying out, waste leakage, inherent or latent defects or natural vices or deterioration.

 

39 The data provided by the participants of the Auction when filling in the registration form are for the Auctioneer. The personal data of registered participants will be processed by the Auctioneer in accordance with the Data Protection Act 3/2018. 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 will the registration information be passed on to third parties. The data requested are adequate, relevant and not excessive in relation to the scope, purposes and services determined, explicit and legitimate 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, whether in 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 governed by and construed in accordance with the laws of Spain and any dispute shall be solely resolved, waiving its own jurisdiction, by the courts of Barcelona.

 

Special Conditions for Real Estate Auctions (by auction and/or private treaty)

 

1 General and Special Conditions. These General Conditions of Sale (referred to as the Special Conditions for Real Estate Auctions, 1 to 23), together with the preceding General Conditions of Sale (referred to as the General Conditions of Sale (by auction and/or private treaty, 1 to 40), as far as not established in the former and the Special Conditions of each auction (applicable specifically ad hoc for each auction) and the privacy and data protection conditions, regulate the legal relationship established in the contracting process carried out between the Bidders and/or Successful Bidders that shall be applicable to the sale of assets carried out by INTERNATIONAL AUCTION GROUP, S. L.U. ("IAG" or "Specialised Entity") through its web platform located at www.iagauction.com, who, by designation of the owner of the real estate (the "Owner" or the "Insolvency Administration") or on its own behalf, shall carry out the sale of the real estate assets and rights to the Bidder ("The Bidder"), who, once the assets are awarded, shall become the Successful Bidder ("The Successful Bidder"). All other conditions, whether explicitly or implicitly expressed in common or special law, which 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. Therefore, non-insolvency assets may be sold, either by auction or by private transaction, in which case these General Conditions of Sale shall apply and must be complied with (with the exception of the specific reference to the insolvency administrators), informing, where applicable, of the applicable Special Conditions of Sale.

 

2 Automatic acceptance. The mere participation in IAG auctions as Bidder/Awardee at www.iagauction.com, implies that you acknowledge having read and accepted all 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 your possible award, with the necessary advance notice, you have provided on the web portal of the Specialised Entity, in a truthful, effective and complete manner, information on the General and Special Conditions of Sale and you submit to the same. This service, its platform and web page is 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 Commercial Register of Barcelona, Folio 67, Volume 42.661, Page B-406.120.

 

3 Participants. The following may participate in the auction: Any natural person, provided that they are of legal age and legal entities, duly constituted in accordance with the corresponding legislation. Any other type of natural or legal person: creditors with special privileges, public organisations, financial or related entities that have been party to the insolvency proceedings, without prejudice to the provisions of special condition 9 g) regarding the blocking of potential bidders. All participants in the auction (including creditors with privileges on the auctioned assets) shall be obliged to accept, comply with the auction conditions and pay the commission of the Specialised Entity or "Buyers Premium".

 

4 Stored data. In accordance with Law 34/2002, of 11 July, on Information Society Services and Electronic Commerce (Annex, section a) 2, the organisation and management of auctions by electronic means, the Specialised Entity does not guarantee or respond for the data stored at the request of the interested parties, provided that it has no effective knowledge that the information stored is illicit or that it harms the property or rights of third parties susceptible to compensation.

 

5 Waiver of the right of withdrawal. Being a Tenderer/Awardee at www.iagauction.com, implies that you expressly waive the right to withdraw from any lot in accordance with RD 1906/1999.

 

6 Bankruptcy proceedings. The Specialised Entity is dedicated to promoting activities related to the online auction of assets of natural persons, entrepreneurs and non-entrepreneurs, trading companies and other entities arising from bankruptcy proceedings, pursuant to articles 415 et seq. of RDLeg. 1/2020 of 5 May of the Consolidated Text of the Bankruptcy Law, art. 15 of RD 16/2020, art. 10 of Law 3/2020, Law 3/2020 of 18 September, RD Law 5/2021 and article 641 of the Civil Procedure Law.  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 on record in the different courts, and therefore are not liable for any damages 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.

 

6 bis Auction procedures derived from the special procedure for the execution of mortgaged assets, procedure for the execution of a non-judicial title, procedure for the disposal of assets provided for in art. 641 of the LEC.

 

In those procedures in which IAG is designated as a specialised company for the disposal of assets within any of the aforementioned procedures, the legal formalities governing these procedures shall be followed, by way of example, without being exhaustive: amount of deposits for bidding, minimum bids to be awarded, consignment deadlines, assignment of the auction, etc. . In the case of the procedure provided for in art. 641 of the LEC, the provisions of the Lawyer of the Administration of Justice in the Decree approving the intervention of the IAG in the disposal procedure.

 

The transfer of ownership and the taking of possession by the bidders/ successful bidders shall be carried out in the manner and according to the procedures stipulated in the procedural laws, exempting the IAG from any liability in cases where the bidder/ successful bidder enters into or reaches agreements with third parties whereby he assigns the future ownership or possession of the real estate prior to holding a legally valid title. In this respect, the transfer of ownership is not completed until acceptance by the competent body, the executing agency or whoever is responsible in accordance with the procedure and, consequently, until the public deed, the decree of the court clerk or a duly signed private contract.

 

7 Acceptance physical and legal status. It is understood that the bidders expressly accept the physical and legal state of the assets subject to the auction, including express knowledge of the terms described in the liquidation plan of the insolvent company, from the moment of their intervention in the public sale process, the bids made being irrevocable. Therefore, the Specialised Entity is exempted from any liability arising from hidden faults, reorganisation, exercise of rights of withdrawal by third parties, situations of unlawful occupation of real estate or any other disturbance to the peaceful use and enjoyment of the property.

 

8 Non-consumer public. The Specialised Entity is an expert in promoting activities related to the online auction of assets intended for natural or legal persons not considered as consumers and within the framework of a business or professional activity, and therefore the General Law for the Defence of Consumers and Users and other complementary laws shall not apply.

 

9 Binding powers. The Specialised Entity may at its own discretion or at the request of the insolvency administration, the owner of the assets or the Judicial Authority: a) Change, cancel or withdraw all or any of the lots listed in each auction until the time of sale, i.e. when the Specialised Entity awards the lot in question during the Auction as well as after the award due to any hindrance, impediment or for supervening reasons. 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. c) Stop the Auction to require a deposit from a Bidder and/or Successful Bidder or not admit the bids of a Bidder and/or Successful Bidder who has not complied with the obligation to make a deposit or submit the documents required in compliance with the money laundering law. d) When a reserve price has been assigned in any lot, withdraw said lot if the highest bid does not reach the reserve price. e) When two or more consecutive lots are similar in quantity and characteristics, offer the following lots to the Bidder of the first for the same price. f) Bid for any lot or lots offered for sale at the Auction. g) Block and prevent Bidders from participating in any of the auctions who in the past have not complied with their obligations and have omitted or infringed the conditions established by the Specialised Entity regarding the obligation to make a deposit, payment of the price or any other required obligation, as well as the presentation of the documents required in compliance with the money laundering law. When a Tenderer is blocked, it may no longer use the Specialised Entity's web portal or register again directly or indirectly under another name without the express authorisation of IAG, without prejudice to any liabilities it may incur.

 

10 Registration. In order to be able to bid for the properties, Bidders must register as a user, following the instructions contained on the IAG website by entering their details on the registration form. In order to ensure a real and certain interest in the acquisition of the property on the part of any participant in the auction and to prevent fraudulent bids from being placed, the interested party's credit or debit card details (name of the cardholder, expiry date, card number and security code) may be required to be entered on the registration form. The Specialised Entity will not charge or block any amount on the card provided. Once completed, interested parties must accept all the General Conditions of Sale as well as the Special Conditions for each auction, if any. The auctions shall be on-line, so that bids may only be placed on the website, in the manner provided for and during the period of the auction. Bids made by e-mail, telephone, fax or post will not be accepted. Once registered, users may participate in the auctions in which they are interested. The properties to be auctioned shall be published on the website of the Specialised Entity, indicating the time remaining until the end of the auction, as well as the last expected auction price. The initial time and the minimum auction price 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 who are not resident in Spain, they may be asked to provide, preferably at the time of the Auction Registration, a bank guarantee.

 

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

 

  1. Award to the highest bidder and disagreements: Once the auction period has ended and the result of the auction has been accepted by the insolvency administration or the owner, the property shall be awarded to the highest bidder, that is to say, to the last highest bid placed and the successful bidder, except in special cases in which, due to the existence of holders of privileged credit on the property, the Laws or judicial resolutions issued in the insolvency proceedings grant them a preferential awarding right. Any differences arising between the users of an auction shall 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. Failure by the Auctioneer to make a prior payment and proof of payment into the account under the conditions announced shall imply the impossibility of participating in the bidding on the property subject to this auction and the bids made by the Bidder who has 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.

 

14 Assignment of the auction and registration in favour of a third party: With the exception of the privileged creditor, the successful bidder may not assign or transfer his right of award to a third party, natural or legal person, unless this is expressly accepted by the insolvency administration, the Specialised Entity, the owner or the executor; in the event of acceptance, they shall inform the Specialised Entity so that the invoice is modified with regard to the fees payable by the different user-successful bidder.

 

15 Payment of fees: The successful user expressly assumes the obligation to pay the fee to the Specialised Entity, which shall be that indicated on the same auction website, adding said amount to the sale price plus the corresponding taxes. The amount for which the property is awarded shall in no case include any state, autonomous community or local taxes levied on said transfer, nor shall it include the management, notary, registry, transport and any other expenses inherent to the transfer, which must be paid in accordance with the law or in a special manner provided for in the Insolvency Liquidation Plan. Once the result of the auction has been accepted by the insolvency administration or the owner, the user to whom the property is to be awarded shall be obliged to pay the amounts relating to the fees and applicable VAT that correspond to the Specialised Entity, this being an essential condition of the award. 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 communication of the acceptance of the result of the auction by the insolvency administration or the owner and before it is notarised. In this way, the successful bidder who has been awarded one or more lots shall pay the Specialised Entity a Buyer's Premium fee 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 rate in force and in particular the applicable V.A.T.. V.A.T. The Buyer's Premium is non-negotiable and must be paid by all successful bidders. Should the amount of the Buyer's Premium fees vary, it shall be specified in the Special Conditions of each auction. The Specialised Entity, when acting on behalf of the property or the insolvency administration, may also receive a fee from them.

 

16 Public deed and non-payment of the price. Once the result of the auction has been accepted by the insolvency or property administration and the property has been awarded, the transfer will be carried out in the manner provided for in the Liquidation Plan or as decided by the insolvency or 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 adjudication or when so determined by the specialised Entity, the Property or the Insolvency Administration. The successful bidder shall have the right to choose a notary, without being able to impose a notary who, due to his territorial jurisdiction, lacks a reasonable connection with any of the personal or real elements of the purchase-sale business. In the exceptional case that, at the time of the execution of the public deed, the auctioned property has a charge pending cancellation or the registration procedures have not been completed, the execution of the deed shall be extended for a period of 30 days, renewable for consecutive periods of up to a maximum of two years. The user who has made the maximum bid is obliged to complete the sale and purchase of the property under the terms set out in these conditions. The maximum bid accepted by the insolvency administration or the property will be legally considered as a Purchase and Sale Contract, and failure to comply with it will entitle the Specialised Entity to take legal action for damages against the successful bidders who do not complete the purchase. In the event of non-payment of 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 the effective fulfilment of the purchase and sale made by public auction, adding the legal interest of money to the said amount and establishing a new payment period. In the event of definitive default, the Specialised Entity may claim payment of 25% of the price of the property as damages. b) Claim payment of intermediation costs (Buyer's Premium) from the highest bidder and award 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 has been accepted by the insolvency administration or the property.

 

17 Non-payment Buyer's Premium. In the event that the successful bidder does not proceed to the payment of the awarded assets within the stipulated term (including Buyer's premium and V.A.T. ), in the terms and dates indicated, the Specialised Entity shall have the option to: a) unilaterally terminate the award, losing all rights over the awarded items, whether by way of ownership, possession or any other similar right, including any type of payment on account, deposit, deposit or down payment made, automatically returning to the ownership of the property or bankruptcy administration, without the Awardee being able to claim against the former 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) oblige the fulfilment of the award in the amount and form stipulated, plus all those expenses incurred for this reason, whether directly or indirectly, as well as those costs that it causes to third parties related to the auction, including the Buyer's Premium.

 

18 Documentation and information to prevent money laundering. The Specialised Entity may request as much documentation and information as it deems appropriate prior to the award and/or sale of the asset in question in compliance with the obligations established in Law 10/2010, of 28 April, on the prevention of money laundering and the financing of terrorism. In the event that the client does not provide the documentation or information requested or there are indications that the origin of the funds does not correspond to an operation in accordance with said legislation or the operation is included in any of the situations set out in the aforementioned law, the Specialised Entity may carry out any of the options contained in point 16 above of these conditions.

 

19 Liability and exclusions. The Specialised Entity will not be responsible for delays in access, delays in the system or any anomaly that may arise in relation to general problems in the Internet network, fortuitous events or force majeure or any other contingency that is totally unforeseeable and therefore beyond the good faith of the company. The Specialised Entity is not responsible for connection errors, acts of God or force majeure, nor does it guarantee the continuity of the website or take responsibility for any interruptions to its service. The Specialised Entity will communicate, whenever possible, any interruptions to the service and the continuity of the website. Likewise, the Specialised Entity shall not be held responsible for any faults that may occur in communications, deletion or incomplete transitions for these reasons, and therefore does not guarantee that the website will be operational at all times when these are due to issues not attributable to the Specialised Entity that it cannot resolve with the means at its disposal. The Specialised Entity undertakes to try to resolve these incidents by using all the means at its disposal and by offering all the necessary support to the various users in order to resolve the incidents as quickly and satisfactorily as possible. Whenever reasonable, The Specialised Entity shall give prior warning of any interruptions in the functioning of the website and any of its services. The Specialised Entity is not responsible for what happens to other people's computer equipment, and users must take the appropriate security measures to protect the information stored on them, and to avoid loss or damage caused by downloads from the website of the Specialised Entity.

 

20 Modifications. In order to improve the services and products offered, the Specialised Entity may modify these General Terms and Conditions of Sale by notifying users through the website. The Specialised Entity also reserves the right to modify the applications of its website in any way.

 

21 Assumption of risks. The successful bidder shall assume all the risks that fall on the property from the moment of the acceptance of the result of the auction by the insolvency administration or the ownership and adjudication, being especially recommended to insure the purchased goods immediately. At the aforementioned moment of sale, the successful bidder assumes all risks in relation to the purchased 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 the insolvency administration to deliver the lots shall be deemed to be 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.

 

22 Essential conditions. The ownership of each of the lots will not be transferred to the successful bidder until the following conditions have been fulfilled: (i) the requirements established to participate in the auction and the general and special conditions of the tender (ii) the result of the auction is accepted by the bankruptcy administration or the owner and (iii) the price is paid in full on the dates indicated as well as the Buyer's Premium fees.

 

23 Information Dissemination. The Specialised Entity 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 in insolvency proceedings, and in the same way with respect to non-insolvency assets. With regard to assets originating from entities that have been declared bankrupt and have been included by the bankruptcy administration in the corresponding liquidation plan and its possible addenda or those originating from companies that wish to dispose of them, the Specialised Entity, subject to prior authorisation from the property, administration or authorised persons, will publish photographs of the properties advertised on this portal, or on other specialised portals dedicated to the sale and purchase of properties, as well as displaying any data necessary for bidders to have a better knowledge of the physical and legal state in which they are located. All this information will be displayed on the web platform of the Specialised Entity, without prejudice to any error, inaccuracy or falsehood in its data or description, for which it shall not be held responsible. The legal texts of the different insolvency proceedings, as well as any other texts referring to the assets included in this website have no legal content or official character, and have only informative and informative content. The Specialised Entity declines any responsibility for their inaccuracy, and Bidders must refer to the legal texts that appear in the different courts, and therefore is not liable for any damages that may be caused as a result of inaccuracies or errors in the same.

 

24 Jurisdiction. In the event of any discrepancies arising between the parties due to the auction operations, and waiving 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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