Auction conditions of KWPN Select Sale 2013
General conditions
1.
The KWPN Select Sale Foundation (hereafter called: ‘the sale’) will organize in the Brabanthallen in ‘s-Hertogenbosch on
Saturday, 2 February 2013. This sale will take place under supervision of a notary public.
2.
The legal relationship between KSS and the seller is an agreement by order.
3.
These terms and conditions apply to the relationship between KSS and the seller and to the relationship between KSS and
the bidder/buyer. Seller and bidder/buyer are also understood to be legal successors/acquirers, if any, unless otherwise stated
in the sale terms and conditions. The seller may designate a maximum of two agents to participate in the sale on the seller's
behalf for all his/her horses selected for the sale. The seller must use the prescribed proxy form to notify the sale organizers of
any designated agent(s) prior to the start of the sale. Agents acting during the sale do so at the expense and risk of the seller.
An act of the agent is considered an act of the seller.
4.
KSS is not bound by agreements between the seller and the buyer unless otherwise stated in these conditions of sale.
5.
All stipulations in these conditions of sale are made for the benefit of all persons who are or were employed by or on behalf of
KSS. These (legal) persons can invoke the stipulations of these sales conditions as if they were KSS.
6.
Participation in the sale will be seen as acceptance of these conditions of sale with the exclusion of any conditions applied by
the participant him/herself.
The sale
7.
The horses will be sold outright, without proceedings or recompense, in the condition in which they are in at the time of sale.
8.
The auctioneer is entitled to change the order of the horses to be sold or to refuse horses, without statement of reasons. The
auctioneer is also authorized to refuse a person as bidder/buyer, without statement of reasons.
9.
Buyers are expected to have full legal capacity and be in full possession of their mental faculties. Each purchaser is
considered to have made the purchase for him/herself and is bound by this bid until a higher bid is accepted. A buyer and
his/her principal, if any, are fully liable for any failure in the compliance with his/her obligations. A seller who is found to have
bought back his/her own horse will be considered a bidder/buyer and all the provisions (including all (payment) conditions) in
these conditions of sale concerning bidders/buyers shall also apply to such sellers. What is meant by a sale here is when the
bidder/purchaser is not the same person as the seller and what is meant by buying back here is when the bidder/purchaser is
also the seller of the registered horse.
10.
A horse put up for auction will always be sold, unless there is no bid for it. If no bid is made, the seller must buy back the
horse.
11.
Registered horses are sold by auction. If no opening bid is made, the auctioneer can lower the amount to € 6,000.
12.
The risk concerning the horses, also including but not limited to damage to and/or caused by horses, is transferred
immediately from the seller to the buyer at the moment of sale. Until KSS has received full payment from the bidder/buyer, the
seller will remain the owner of the horse.
13.
Immediately upon the realization of the sales agreement, the buyer, upon production of identification, shall sign a written sales
agreement. If the sales agreement is not immediately offered for signing, the buyer must immediately report this to the KSS
secretariat.
Information
14.
KSS has compiled the catalogue with the greatest possible accuracy. The information about the pedigree of the horse is
intended to give an impression of the quality of the horses without pretending to be complete and without offering any
guarantees.
15.
It is the responsibility of the seller to check the accuracy of the information which KSS provides concerning the horse offered
for sale and to promptly notify KSS in writing of any mistakes or inadequacies thereby indicating in as much detail as possible
to KSS which changes or additions should be made.
16.
A duplicate of the veterinary report can be viewed on request two days before and on the day of the sale. Neither sellers nor
buyers can derive any rights from such. The contents of the veterinary report and any other general veterinary comments
made by the veterinarian appointed by KSS shall be binding for KSS, the seller and the buyer.
17.
Buyers are obliged, at the request of KSS, to supply information concerning their financial solvency, in which case they must
show KSS documentation proving their solvency. By bidding for one of the horses offered at the sale, buyers authorize KSS to
obtain information concerning their solvency from third parties.
Entry, costs and payment
18.
KSS is at all times authorized to refuse entry of a horse, to refuse horses and/or sellers, without having to state reasons.
19.
Before acceptance there will be a sale price agreed between the seller and KSS for each horse. Selling prices are in multiples
of € 1,000 plus € 1.00. If a selling price written on the form is not in multiples of € 1,000. + € 1.00, the KSS, seller, and buyer
are still obligated to the selling price + € 1.00. For example, if the form lists a selling price of € 22,000, the parties are
obligated to a selling price of € 22,001. This pricing formula also applies in the event of a buy back by the seller.
20.
The registration fee is a percentage (including VAT) of the purchase price excluding VAT to be paid within 14 days after the
sale in euros without discount or deduction. The registration fee is 6% at sale. The registration fee is 3% at buy back for a
price that is lower than or equal to the selling price. The registration fee is 6% at buy back for a price that is higher than the
selling price.
21.
For horses that are accepted into the sale on a wild card, the seller will have the opportunity, in deviation from percentages
mentioned in sub section 20, to choose for the option whereby the registration fee is 8% at sale and 0% at buy back for a
purchase price which is lower than or equal to the selling price and 6% at buy back for a purchase price that is higher than the
selling price.
22.
At the sale, the bidder/purchaser must pay the purchase price augmented by 10% mark-up including VAT over the purchase
price excluding VAT in cash to the secretariat of the KSS, in euros, without discount or deduction. At buy back of a purchase
price which is lower than or equal to the selling price, the bidder/buyer (at the same time being the seller) is not indebted to
KSS for the mark-up. At buy back of a purchase price which is higher than the selling price, the bidder/buyer is (at the same
time being the seller) indebted to the KSS for 10% mark-up.
23.
In the event that the bidder/buyer fails to do so, KSS has the right to immediately resell the horse, in which case the bid of the
original bidder/buyer shall no longer be acceptable. The original bidder/buyer must still pay the difference between his/her bid
and an eventual lower sales price, as well as the costs of resale, to KSS. This bidder/buyer has forfeited any claim on a higher
sales price after resale.
Auction conditions of KWPN Select Sale 2013
24.
25.
26.
27.
28.
29.
30.
31.
32.
Only with prior permission obtained in writing from KSS, do bidders/buyers have the right to pay by bank transfer, in which
case he/she must transfer the payment within 7 days after the sale to the bank account number of the KSS. The transfer must
be notified under the registration number. In this case the KSS obliges the bidder/buyer to immediately insure the horse with
Hippo Zorg B.V. for a maximum period of one week at the cost of the bidder/buyer with a premium of 1.0% of the sales price
or for a maximum of one month with a premium of 1.5% of the sales price, whereby, in the case of damage, a year premium
of 4% of the sales price will be charged to the bidder/buyer. This short summary of the aforesaid insurance does not pretend
to be complete and the bidder/buyer cannot derive any legal rights from this summary. The bidder/buyer can obtain a copy of
the conditions of insurance at the secretariat of KSS on the day of the sale.
KSS also has, among other things, the right to refuse the aforementioned permission in the event that, according to KSS, the
bidder/buyer fails to demonstrate his/her financial solvency or fails to offer sufficient security by means of bank guarantees or
suchlike. KSS has the right to withdraw the permission already given by it at any time in case of any doubt about the solvency
of the securities that have been supplied by the bidder/buyer.
Payment to any other person than KSS does not release the seller or bidder/buyer from their payment obligations towards
KSS.
In the event that KSS has not received payment in full from the bidder/buyer within 7 days after the sale, the bidder/buyer will
be legally in default. The bidder/buyer is then, in addition to any other payment obligations, obliged to pay an indemnity of an
amount of 6% (including VAT) of the sales price excluding VAT to and on behalf of KSS. The total sum owed by the
bidder/buyer on the basis of his/her payment obligations will be increased with interest determined by section of the law 6:119
of the Civil Code, to be calculated from the date of the auction until the date of full payment.
In the event that KSS has not received full payment from the bidder/buyer within 7 days after the sale, KSS also has the
authority, without notification of default to or permission from bidder/buyer, to consider the sale as not binding. In that event
the seller and the bidder/buyer remain obliged to comply with all their payment obligations to KSS as laid down in these
conditions of sale, in as far as concerning compensation to KSS.
If the bidder/buyer or the seller are in default concerning the compliance with any (payment) obligations towards KSS, all
judicial and extra judicial costs accrued by KSS as a result of these circumstances shall be for account of the bidder/buyer or
the seller, whatever the case may be, with a minimum sum of € 1000.- including VAT.
Only if and when all (payment) obligations towards KSS have been complied with by both seller and bidder/buyer, KSS shall
make complete payment of all monies owed by it to seller within 30 days thereafter.
Any settlement of mutual claims between the seller or bidder/buyer towards KSS is excluded. KSS is at all times authorized to
settle mutual claims.
Costs for paying with credit card are charged for the bidder/buyer.
Selection and examination of horses before the sale
32.
Terms and Conditions
The KSS determines the criteria that auction horses must meet. These criteria are partially taken from Stallion Selection
Regulations for Jumpers, Stallion Selection Regulations for Dressage Horses, KWPN Dressage Horse Selection Regulations
(stallions), KWPN Jumper Selection Regulations (stallions), and KWPN Illegal Substances Regulations, the terms and
conditions of which are published on the KWPN website. A copy of the terms and conditions is available from the KWPN upon
written request.
Horses selected for the sale must meet the requirements of the KWPN Illegal Substances Regulations prior to the auction
(including during the selections), at the auction, and after the auction (including the keuring as described under point 38 of the
Dutch language KWPN Terms and Conditions, if applicable).
Health characteristics of the auction horses may change over time. Two examples of possible changes are respiratory
condition and hoof shape. Considering the age of the stallions, they may be examined again against similar veterinary criteria
if they participate in the Performance Test in the scope of the KWPN selection process for approving stallions. In any case,
the following supplementary terms and conditions, among others, apply:
Veterinary Examination
The horses must undergo veterinary examinations that include a radiographic evaluation, a clinical inspection, respiratory
testing, and semen quality analysis. Examinations take place at or through the Faculty of Veterinary Medicine in Utrecht or
through a KWPN approved and certified clinic in the Netherlands. A blood sample will be drawn during the KWPN Stallion
Selections, prior to the auction. An additional clinical inspection will be performed after the second round viewing and prior to
the sale.
Quality of the Examination
Radiographs taken must meet the requirements outlined in Appendix 1 of the Equine Selection Veterinarian Regulations. Sale
horses must meet the radiographic criteria that the KWPN uses for approving stallions, and auction horses must undergo
further evaluation for additional radiographic abnormalities and osteochondritis in the pasterns. At the time of the auction,
these horses must meet the criteria for respiratory health stipulated by the KWPN to qualify for approval.
Report
A report is drafted from the veterinary clinical examination, according to KNMvD standards. Another report is drafted on the
results of the respiratory testing, according to KWPN criteria. A third report on the semen analysis is drawn up by the Faculty
of Veterinary Medicine in Utrecht.
Seller Requirements
The seller is responsible for ensuring all the listed examinations are performed and for arranging timely delivery of the reports
to the KSS. The KSS must receive reports on the selected stallions no later than December 31, 2012. This brief summary of
the criteria does not claim to be complete. Neither sellers nor buyers can derive any rights from this document.
KSS Indemnification
The stated KSS Terms and Conditions for horses and sellers in the scope of the auction are imposed purely in the interest of
facilitating a good sale. KSS Terms and Conditions do not imply that the KSS is responsible for the results of the
examinations or for their accuracy and completeness. The seller is responsible for the accuracy and completeness of the
examination results and the accuracy and completeness of the examinations performed. The buyer is obligated with respect
to the examination – regardless if the buyer is assisted by an expert – to be well informed about the auction horses in advance
of the auction. Sellers and buyers agree to indemnify and hold harmless the KSS from liability arising from errors and
omissions before, during, and after the auction with respect to bought/sold horses.
Auction conditions of KWPN Select Sale 2013
33.
34.
35.
36.
37.
The Stallion Selection Regulations for Jumpers, Stallion Selection Regulations for Dressage Horses, KWPN Dressage Horse
Selection Regulations (stallions), KWPN Jumper Selection Regulations (stallions), KWPN Illegal Substances Regulations, the
complete (supplemental) conditions as well as appendix 1 of Selection Veterinarian for Horses rules will be sent by post on
written request.
A selection committee appointed by KSS will examine and select the horses that qualify for participation in the sale. Decisions
taken by the selection committee are binding. The selection committee is entitled to seek advice from third parties but has the
right at any time to refuse a horse, without having to state reasons, on the basis of (physical) deficiency or any other grounds
determined by the selection committee also when a horse has already been selected for the sale. KSS (and the selection
committee) will never be liable, on whatever basis, to compensate the costs accrued by the seller.
The selection committee is at any time entitled to allow horses, whether they have participated in (earlier) selections or not, to
enter the sale (granting a ‘wild card’). KSS explicitly points out that (examination) data of the horses here referred to may not
(yet) be available (in full) during the auction. This means that it may be that it cannot be established at the auction that the
horses here referred to meet aforementioned criteria. In the event that (examination) data are not (fully) available at the
auction, the following applies: exclusively in the event of a written request thereto from bidder/buyer to seller made within 7
days after the end of the auction with as much as possible detailed description of the lacking data, the seller shall ensure, at
his/her own expense, that such missing data are made available to the bidder/buyer, at the latest within 7 days after the
receipt of mentioned request. Both seller and bidder/buyer shall give their full co-operation to obtaining aforementioned data.
In the event that the seller, in spite of aforementioned request, fails to provide the aforementioned data in time, the
bidder/buyer is authorized to consider the sale dissolved in which case the contract is cancelled (including the sales price)
both for the seller and the bidder/buyer. In the event of a written request thereto made by bidder/buyer, the seller is, amongst
other things, obliged to immediately take back the horse. All costs in that connection shall be for the account of the seller. The
seller and bidder/buyer remain obliged towards KSS to comply with all their payment obligations mentioned in these sale
conditions, in as far as concerning compensation of KSS. Otherwise these sale conditions apply in full.
If a horse, in due observance of the KWPN Illegal Substances Regulations or during the event, is detected with a forbidden
substance, the bidder/buyer will have the right to consider the sale dissolved, in which case the contract is cancelled
(including the sales price) both for the seller and the bidder/buyer. In the event of a written request thereto made by
bidder/buyer, the seller is, amongst other things, obliged to immediately take back the horse. All costs in that connection shall
be for account of the seller. The seller and bidder/buyer remain obliged towards KSS to comply with all their payment
obligations mentioned in these auction conditions, in as far as concerning compensation of KSS. Otherwise these auction
conditions apply in full.
In the event of any discrepancy between the conditions of the ‘KNMVD X-ray examination report’, Stallion Selection
Regulations for Jumpers, Stallion Selection Regulations for Dressage Horses, KWPN Dressage Horse Selection Regulations
(stallions), KWPN Jumper Selection Regulations (stallions), the aforementioned supplemental conditions, and the KWPN
Illegal Substances Regulations, KSS will decide which conditions apply in the relevant situation.
Licensing of horses after the auction: bonus
38.
39.
40.
41.
42.
43.
44.
45.
If the horse is licensed before 1 January 2016 in conformity with the selection system of KWPN (hereafter called: ‘the
licensing’) and therefore qualifies for registration in the studbook of KWPN, the bidder/buyer shall pay to the seller an amount
in addition to the sales price established at the auction (hereafter called: ‘bonus’) in as far as the seller has explicitly so
indicated. The seller shall inform KSS in writing in a timely manner before the sale of the desired bonus amount that a
bidder/buyer will in that case owe to seller. The seller must choose a bonus with a maximum of € 50,000 excluding VAT. Prior
to the sale, KSS and the seller may, in the event of special circumstances, jointly determine a higher bonus amount. Both the
special circumstances and the amount of the higher bonus shall, previous to the auction, be laid down in writing and signed by
KSS and the seller. The bonus will be made known prior to the sale. Furthermore, on top of the bonus, excluding VAT, 10%
mark-up including VAT is indebted to KSS by the bidder/buyer. In the case of buy back the bidder/buyer (who is also seller) is
not indebted to KSS for the bonus mark-up.
The bidder/buyer shall transfer the bonus, the related mark-up and the VAT owing in this connection into the bank account of
KSS, within 14 days after the licensing. In the event that the bidder/buyer has not fully met his/her payment obligations within
the mentioned period, he/she shall be legally in default. In that case the bidder/buyer shall not only remain liable for payment
of the bonus and the related mark-up, but shall also pay a compensation in behalf of KSS of 24% including VAT of the bonus
excluding VAT, to be increased with interest determined by section of the law 6:119 of the Civil Code over the total amount
owing, including the bonus, the related mark-up and aforementioned compensation, to be calculated from the date of default
until the date of full settlement.
In the event that the horse is licensed as referred to in item 38, the seller shall owe compensation to KSS of 6% including VAT
of the bonus excluding VAT, in addition to his/her further payment obligations. The seller shall pay this compensation within
14 days after the licensing into the bank account of KSS.
KSS is authorized not to hand over the horse after his licensing to the bidder/buyer and to relocate him in a place designated
thereto by KSS until the bidder/buyer has fully met his/her before mentioned payment obligations. In addition, all costs
incurred in fairness and believed necessary by KSS regarding mentioned relocation of the horse shall be for account of the
bidder/buyer. The bidder/buyer shall remain responsible for the care of and liable for any damage to and/or caused by the
horse.
If and only when the bidder/buyer has met all aforementioned payment obligations in full, KSS will pay the amount owing to
seller at the latest 30 days thereafter.
In the event that the bidder/buyer has not complied with all of his/her payment obligations within 30 days after the licensing,
KSS is authorized, without declaration of default, on behalf of seller and without his/her permission, to consider the sale
dissolved. The seller and the bidder/buyer will still be obliged towards KSS to comply with all the payment obligations
mentioned in these conditions, in as far as concerning compensation of KSS.
In the event of the bidder/buyer’s failure to comply with his/her (payment) obligations towards KSS, all (extra) judicial costs
incurred by KSS for that reason, will be for account of the bidder/buyer, with a minimum amount of
€ 1000 including VAT.
Further provisions in these auction conditions regarding payment obligations remain in full force, unless deviated from under
items 38 up to and including 44.
Auction conditions of KWPN Select Sale 2013
Absence of horses at the auction
46.
Once selected, a horse is obliged to participate in the sale, in default whereof the seller, in addition to any further amount
owing by him/her to and in behalf of KSS, owes a compensation payable to KSS and amounting to € 50,000 and, in the event
that a higher amount of bonus was arranged between KSS and the seller as referred to in item 38, this higher amount. The
total amount payable by the seller on the basis of all his/her payment obligations will be increased with an interest determined
by section of the law 6:119 of the Civil Code, to be calculated from the date of the auction until the date of full settlement.
47.
48.
In the event that a horse is prevented from participating in the auction for health reasons in the opinion of the seller, KSS
should be notified thereof in time, in writing and with an as accurate as possible description of the ailment, after which a
veterinarian designated by KSS will determine the nature of the ailment. The vet’s word is binding in this connection.
In the event that the seller offers aforementioned veterinarian, in the latter’s opinion, no time or insufficient opportunity to
(timely) examine the horse, or that the horse has been declared healthy by mentioned vet and nevertheless does not
participate in the auction, the seller shall owe to KSS the compensation mentioned in item 46. In the event that a horse,
whether or not found healthy by mentioned vet, does not participate in the auction, the seller shall in any case owe to KSS the
costs incurred by KSS in that connection (such as the vet’s) with a minimum amount of € 1000 including VAT.
Delivery and removal of horses
49.
50.
51.
52.
The horses that will be auctioned have to be stabled in the KWPN Salesroom on the day of the sale by 10 am.
Immediately upon allotment, the bidder/buyer shall assume responsibility for the welfare of and will be liable for any damage
to and/or caused by the horse.
The bidder/buyer shall remove the horse at his/her own expense from the sales grounds 2 hours after the end of the auction
at the latest. If the bidder/buyer has not removed the horse in good time, he/she will be in default. In that case KSS is
authorized to remove the horse, or have the horse removed, from the sales grounds and to have the horse stabled elsewhere,
the bidder/buyer being accountable for the costs accrued as considered reasonable by KSS. The bidder/buyer will remain
responsible for the horse and for any damage to and/or caused by the horse.
Only if and when the bidder/buyer has fully complied with his/her (payment) obligations, including payment obligations
concerning compensation to be paid to KSS, the horse and related documents become available to the bidder/buyer, who will
receive the necessary documentation. KSS is not obliged to make the horse available to the bidder/buyer, if he/she has not
fully complied with his/her (payment) obligations.
Stable vices
53.
In the event that the bidder/buyer detects that the horse purchased has a stable vice, such as cribbing, weaving or windsucking, the bidder/buyer shall notify KSS in writing within 7 days after the sale, with a description, in as much detail as
possible, of the nature of the stable vice. In that case KSS will move the horse to a location of its choice and have the horse
examined by a veterinarian of its choice in connection with the alleged stable vice described by the bidder/buyer. The
mentioned veterinarian’s conclusion about the alleged stable vice shall be binding. If the veterinarian finds that the horse has
the stable vice described by the bidder/buyer, the seller is obliged to pay the costs accrued to KSS, including costs of stabling,
transport, veterinarian’s fee. If the veterinarian finds that the horse does not have the stable vice described by the
bidder/buyer, the latter is obliged to pay said costs accrued to KSS.
54.
The provisions of item 53 also apply in the event that the bidder/buyer detects any deficiency in the horse other than stable
vices.
55.
If the bidder/buyer fails, within mentioned period of 7 days after the auction, to notify KSS in the manner as mentioned above
of such stable vices or other deficiencies and/or if mentioned veterinarian finds that the horse does not have these vices or
(other) deficiencies, the bidder/buyer will lose the right to have the sale dissolved or to invoke vitiated consent.
Dissolution and annulment
56.
In the event that the sale is legally dissolved or annulled by the bidder/buyer or the seller, the bidder/buyer and the seller shall
nevertheless comply with all their payment obligations towards KSS, in as far as compensation to be paid to KSS is
concerned. A sale can be dissolved or annulled in due observance of the relevant current legal provisions, in as far as not
deviated from in these sales conditions in legally valid way.
Liability
57.
KSS is not liable for the accuracy of information in the catalogue, provided at the sales grounds and during the auction. The
seller shall hold KSS harmless against any third parties claims (including claims from bidders/buyers) for damage arising from
seller’s failure to comply with the obligation to check and notify as regards the catalogue, as referred to in item 15 above.
58.
KSS is not liable for the accuracy of the information contained in the veterinarian’s report, the veterinary information supplied
at the sales grounds or any information provided during the sale.
59.
KSS is not liable for any damage incurred or caused by persons, goods or horses, before, during or after the sale.
60.
KSS will not insure horses or other matters on behalf of sellers and bidders/buyers. As sellers and bidders/buyers take part in
the sale for their own account and risk, KSS advises that they take out such insurance themselves. In the event of the death
of the horse on the day of the auction, and the relevant seller or bidder/buyer will not receive any compensation from an
insurance possibly taken out by him/herself, KSS will refund the entry fee or the mark-up to the seller. With mentioned refund
KSS is only providing a service to sellers and bidders/buyers, not acknowledging any liability on its part, without sellers and/or
bidders/buyers deriving any rights from this, now or in the future.
61.
KSS is not liable for the failures of third parties, including bidder/buyer’s failure to pay.
62.
KSS is not liable for anything, whatsoever, except in case of willful intent or gross negligence on the side of KSS.
63.
Anyone causing damage to (goods owned and/or used by) KSS, shall be liable for such damage.
64.
Sellers and bidders/buyers are liable for any damage caused by them. Sellers and bidders/buyers shall hold KSS harmless
against any third party claims (including claims from other sellers and/or bidders/buyers, or visitors).
Auction conditions of KWPN Select Sale 2013
Miscellaneous
65.
66.
67.
KSS is an entrepreneur for VAT purposes. Changes with respect to the applicable VAT rate could lead to a corresponding
adjustment of the rates including those mentioned in article 20, 21, and 22 of these sale terms.
In the event that the transfer of sold horses to another EU member country is invoiced, at the request of the bidder/buyer, at
VAT zero rate, the bidder/buyer shall fulfill all the necessary conditions for realizing a legally valid intra-Community
transaction.
If application of the VAT zero rate proves impossible (afterwards), for whatever reason, the bidder/buyer shall still owe an
amount equal to the amount owing in case of a domestic transfer of the horse. At the request of KSS, the bidder/buyer is
obliged to pay the aforementioned sum to KSS immediately. In such cases, refund will be made only if and when the
bidder/buyer has complied with the conditions referred to in item 66 to the satisfaction of KSS. The bidder/buyer is liable for
and shall hold KSS harmless against, in any case, all damage arising from a failure to comply with the conditions referred to in
item 66. In addition, the bidder/buyer is liable for all judicial and extra judicial costs incurred by KSS with a minimum sum of
€ 1000 including VAT.
Conversion
68.
If one or more of the provisions of these sales conditions prove to be legally invalid or will become invalid in the future, this will
not in any way affect the validity of any of the other provisions. In that case the legally invalid provision will be replaced by a
new, legally valid provision which is as similar as possible to the old provision as far as content, scope and objective thereof
are concerned.
Disputes
69.
If, upon allotment, a difference of opinion arises about the question as to who made the last bid, or if other problems,
unclearness and disputes arise about the bidding and/or the allotment, the auctioneer is authorized to give a binding decision.
In the event of mentioned difference of opinion about the last bid, the auctioneer is authorized to continue to sell the horse by
auction.
70.
If the auctioneer requests the notary public to decide, the notary public will make a decision that will be binding and
irrevocable for all parties. During the auction the notary public is also authorized to make decisions about disputes of another
nature than those regarding the bidding and allotment.
71.
The legal relationship between KSS and the bidder/buyer and the seller are exclusively ruled by Dutch law, with full exclusion
of the Vienna Sales Treaty (CISG). Disputes, other than those subjected to the decision of the auctioneer or the notary public
as described in items 69 and 70, or not covered by Stallion Selection Regulations for Jumpers, Stallion Selection Regulations
for Dressage Horses, KWPN Dressage Horse Selection Regulations (stallions),
KWPN Jumper Selection Regulations (stallions), and KWPN Illegal Substances Regulations shall be settled by the arbitration
committee (as stated in and in accordance with the KWPN Arbitration Rules) or by the competent court of Utrecht.
These conditions are a translation from the Dutch language. In case of dispute only the original Dutch version is binding.