Terms and conditions

General conditions

1.1 These conditions of sale apply to all agreements concluded at the sporthorsesauction in
Dronten at May 7th 2019 between seller and purchaser regarding horses offered at the Flevo
Manege Foundation’s sporthorsesauction as well as all resultingagreements.
1.2 All these agreements are governed by Dutch law.
1.3 The conditions of sale will be made available to the visitors of the sporthorseauction before
start of the sporthorsesauction by or on behalf of the Flevo Manege Foundation in Dronten.
The conditions of sale will also be included in the auctioncatalogue. By making a bid at the
auction the respective bidder is assumed to have taken notice of and fully accept these terms
and conditions.
1.5 The terms stipulated in Article 2 of these conditions of sale, written with a capital letter,
have the following the definition within these conditions of sale.

Definitions

2 a. Purchaser: A natural person or a legalentity that acts as the buyer during the contract of
purchaseand sale of a horse during the sporthorsesauction.
b. Notary: The notary under whose supervision the sporthorsesauction is held.
c. Foundation: The ‘Flevo Manege Dronten’ foundation.
d. Auctioncommittee: Committeein charge of the organization of the sporthorsesauction by
the Flevo Manege Dronten foundation.
e. Seller: A natural person or a legal entity that acts as the vendor during the contract of
purchase and sale of a horse during the sporthorsesauction.
f. Horse: A horse that is pointed out by the Foundation.
g. Sporthorsesauction: The annually held sporthorsesauction organized by the foundation.
h. Auctioneer: The auctioneer appointed by the foundation.
i. Final bid: A bid accepted by the auctioneer.

Auction

3. The sporthorsesauction is organized by the foundation under the supervision of a notary
or a substitute contracted by Van Dijk De Jongh Notarissen and Estate Planners Dronten. All
services and activities done by Van Dijk De Jongh Notarissen and Estate Planners Dronten
apply to the general conditions which can be found on the website www.flevium.nl

Contract of Sale

4. The contract of sale between the seller and purchaser is immediately effected by a final
accepted bid under supervision of the auctioneer.

Auction Method

5.1. The SporthorsesAuction is directed by an Auctioneer appointed by the foundation for this
purpose.
5.2. The horses are being sold in condition and shape such as they are during the auction. All
horses have passed a vetinary inspection as being a ridinghorse, carried out by ‘Dierenkliniek
Emmeloord’/the animalclinic of Emmeloord, as required by seller at his account and risk. The
reporting is for both buyer and seller binding. The veterinary reports are for everyone to see
at the auction Office.
5.3. The sequence of the auction is appointed by lot and is made public before thea uction. The
first two horses to be auctioned will be offered for sale twice; once before and once after the
break. The best offer of these two rounds will make the final accepted bid. The horses are
sold to the highest bidder. The offering of the horses for auction follows the order indicated
in the catalogue. The order indicated in the catalogue is determined by the foundation by
means of drawinglots.
5.4. Bidding takes place by holding up the catalogue. Unless indicated otherwise by the
Auctioneer, bidding takes place up to anamount of EUR 5000 in amounts of EUR 200 (in
words: two hundred Euros), above the amount of EUR 5000 bidding takes place in amounts
of EUR 500 (in words: fivehundred Euros) or multiples thereof. The foundation (or the
Auctioneer) reserves the right to refuse a bidding without stating reasons.
5.5. Each bidder is supposed to make a bid for himself and he or she is held to this bid, unless a
higher bid is accepted.
5.6. The regarding horse is for the account and risk of the buyer as from the moment of the final
accepted bid, except for any possible hidden defects.
5.7. In case the Auctioneer makes a mistake, he has the right to rectify the mistake.
5.8. The Notary as certains and if necessary records facts that occur during the
SporthorsesAuction. Possible differences that relate to these facts are decided by the Notary
in a binding manner based on his judgment and recordings.

Exclusion from liability

6.1. The Foundation excludes any liability for the state of health of the horses participating in the
auction.
6.2. The Foundation cannot be held responsible when a horse specified in the auction catalogue
is not offered at the actual auction.
6.3. The Foundation excludes all liability for any accident or damage in curred or caused by, a
person or horse, at or near the premises where the horses are inspected, picked up,
pennedand/or where the Sporthorsesauction takes place. All persons entering the premises
or buildings do so at their own risk.
6.4. The Foundation excludes allliability from damage by third parties that is incurred at the
Sporthorsesauction, with the exception of damage that is brought on due to wil ful or gross
negligence on part of the Foundation, or its managers.

Payment and Delivery

7.1. After the final accepted bid, the buyer will have to transfer the purchase price as well as the
auctionfees – 10% of the final accepted bid excluding VAT – to the following account of the
Foundation: NL47RABO0348144334, BIC RABONL2U. Payment should be effected on the first
working day after the auction either in cash, by a standing order or by transfer of the amount
due by phone. The foundation shall transfer the purchase price when received from the
Purchaser to the Seller; the amount will be transferred to a bank or giro account appointed
by the Seller.
7.2 The seller takes care of transporting the horse to the premises where the auction is to take
place. The horses can be picked up by the buyer after the auction is done, or on Wednesday
8 May between 10.00 and 12.00 AM, only by presenting a certificate issued by the
Foundation.
7.3. In case seller or buyer of one or more horses is of the opinion he is in dispute with the other
party or in the case that buyer is of the opinion that he may require rescission of the
contract, he has to inform the Foundation within 14 days after the auction by registered mail.
If this is not done as a forementioned within 14 days, the Foundation will effect payment to
the selling party directly after the stays deposited with the stipulatedperiod. In case the
Foundation has been informed by registered mail in time, the amount due stays deposited
with the Foundation, either until the dispute is settled, or till the contract is dissolved. By
mutual agreement the Foundation will deposit the amount concerned with a solvent bank;
the between times accumulated interest comes to the party entitled to the purchaseprice.
7.4. The Purchaser does NOT have to pay valueaddedtax over the purchaseprice of the horses.
Unless when it is stipulated in the catalogue that for some horses the valueadded
taxregulation does apply, the Purchaser NEEDS to pay valueaddedtax over the purchaseprice.
Horses that are purchased with the valueadded taxregulation automatically exclude value
added taks when the final bid is accepted by the Auctioneer.

Registration Certificate

8. The horse’s registrationcertificate submitted by the seller prior to the SporthorseAuction
shall remain in the possession of the foundation, until both the Buyer and the Seller have met
their financial obligations towards each other and towardst he foundation, as long as the
horse has not been actually delivered to the Buyer

Default

9. When either buyer or seller – because of other reasons than incapacity or circumstances
beyound one’s control – doesn’t meet the obligations which are part of the transaction of
either purchase or sale, the opposing party is entitled to either:
– demand fulfilment of the obligations described, or
– demand the contract of either purchase or sale to be dissolved.
In both cases the offender is due to pay a fine of EUR 2500,00 to the opposing party. In case
the opposing party requires fulfillment of the obligations due, the offender is held to pay the
opposing party the amount of EUR 250,00 for each day as long as the obligations are fulfilled.
The opposing party is entitled to claim damages, such can only be done by writing a
registered letter or after serving notice to the debtor. A term of 8 days has to be respected
before last mentioned may be carried out.

Disputes

10.1 All differences originating from agreements made at the Sporthorsesauction concerning
horsesauctioned by the Foundation at the sporthorsesauction, as well as any further
resultingagreements, will be settled by arbitration (without the possibility of appeal) to be
carried out by the Notary of the Notary Office of ‘Van Dijk De Jongh Notarissen and Estate
Planners Dronten’, during which the offender can have experts at his bidding. In this article
(10) it is a matter of settlement agreement between both parties as it is mentioned in article
7:900 and following according to the Dutch Civil Code, where the decision within this
argument will be decided by the Notary. Unless one of the parties chooses to settle this
dispute at court and to have a judgerule a verdict in this case. This all has to be decided
within a month upon notification of the Notary asking to have this case settled before court
or have it decided by the Notary itself.

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