AUCTION TERMS & CONDITIONS 2022
DEFINITIONS 1. In these Auction Terms and Conditions the words that start with a capital letter have the following meanings:
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Auction Amount
The highest amount offered by a Bidder at the Auction for an Embryo/Unborn Foal/Foal.
Bidder
The party that registers, or has registered, in a manner prescribed by GDA, in order to be able to participate in the Auction and that bids for an Embryo/Unborn Foal/Foal during the Auction.
Participant
A participant in the Auction, in the capacity of Bidder, Purchaser or Vendor.
Embryo
A fertilised ovum which has divided a number of times and has then been frozen.
GDA
The private company with limited liability Global Dressage Auctions B.V., established in Erp, with Chamber of Commerce number 78698898.
Contract of Sale
The contract of sale between the Vendor on the one hand and the Purchaser on the other which is formed as a consequence of Allocation in accordance with the model attached as Annex I.
Purchase Price
The amount payable by the Purchaser for the Embryo/ Unborn Foal/Foal offered for Auction, consisting of the Auction Amount plus the Premium and any VAT.
Purchaser
The Bidder to whom Allocation has taken place and who acts as the purchaser in a Contract of Sale.
Unborn Foal
A fertilised ovum which has developed into a foetus, carried by a surrogate mare or the biological mother.
Premium
The amount by which the Auction Amount is increased and which is equal to 10% of the Auction Amount.
Stable Vices
Windsucking, systematic weaving or crib-biting.
Allocation
The (electronic) declaration by GDA (on behalf of the Vendor) to the Purchaser stating that an offer by the Purchaser has been accepted as the highest offer and that the Embryo/the Unborn Foal/Foal for which the
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