1.     Acceptance of Policy

By registering on the present auctions web site, by bidding in auctions, and by purchasing, auctioneers, bidders and auction buyers shall irrevocably and unconditionally accept and acknowledge as binding themselves the then current auction policy in effect, the auctions information affected by the bidding, and terms and conditions stipulated therein.

2.     Interpreting Provisions

• Auction Organiser: the legal entity operating the present auctions web site and in charge of administering the auction, Intergavel Ltd.
• Registered Client: users registered on the web site: intergavel.hu in possession of user names and passwords required for participation in the auction.
• Bidder: those making registered bids for the purchasing of assets announced for sale between the commencement and closing date and time of the auction.
• Registered Bid: a bid attaining the minimum price.
• Auction Buyer: the auction’s winning bidder.
• Minimum Price: the lowest amount for which an announced asset may be awarded, if offered.
• Maximum Bid: the amount of highest purchasing price specified by bidder in case of automatic bidding.
• Automatic Bidding: the auction system automatically raises the amount offered with reference to the then current highest buying bid bidder up to the set maximum bid in the specified bid increments.
• Purchasing Price Difference: the difference between the bidding purchase prices specified in the bids of the original winning Auction Buyer and the Auction Buyer replacing the former.
• Auction Information: covering details related to the sale of a particular asset, commencement and closing date and time of the auction, any other contractual terms and conditions thereof, typical asset features, technical description, specifics, photographs and minimum price known to Auction Organiser, and potential viewing option uploaded to the Auction Organiser web site.
• Principal: the Seller, the owner of the asset offered for auction.
• Bid increment: the difference between the then current bidding price and the lowest bid possible.
• Adjudication Price: the final buying price in the winning bid offered by Auction Buyer.
• Delivery Authorisation: Auction Organiser’s written declaration to Auction Buyer as to where and when assets affected by the particular auction may be delivered away.

3.     General Rules

On-line auction is public, may be accessed by anyone, yet participation in an electronic auction requires registration and logging into the present auction interface operated by Auction Organiser. New registration is solely possible for legal entities. Auction Organiser shall announce an auction by Auction Information via the web site www.intergavel.hu. Auctioned assets shall be rendered available to Auction Organiser for auction for and on behalf of Principal during the term of the auction in their condition as is. Auction Organiser reserves the right to exclude or consolidate certain auction items.

Auction Organiser represents the interests of both Principal and Bidders with the requirement of fair competition in mind throughout its activities.

4.     Exclusion of Liability

By participating in the auction Bidder and Auction Buyer acknowledge that in respect of assets rendered available and sold by auction both Principal and Auction Organiser comprehensively preclude their guarantee and warranty obligations pertaining to faulty performance, and do not undertake any liability whatsoever in relation to the quality, condition, completeness, known or hidden faults and other features of assets. The listing of auction items, descriptions of typical characteristics and condition of auctioned assets, determining of their market value and specification of other parameters have been compiled with the uttermost diligence; however, do not necessarily ensure a comprehensive description of all characteristics of a particular asset. Specification of technical details such as dimensions and weights or production years is not mandatory.
Bidder and Auction Buyer acknowledge the exclusion of Auction Organiser’s and Principal’s guarantee and warranty liability, and that they may not file complaints in any form and before any forum in relation to the quality or condition of an asset after the closing of the auction. In order to ensure that Bidder and/or Auction Buyer become(s) aware of auctioned assets and certain characteristics thereof, each auction item and asset may be viewed prior to the auction at the time and date and place specified in the Auction Information. Assets are in every case auctioned in their condition as is, which may differ from the photograph or description stated in the Auction Information. Auction Organiser does not undertake any liability for hidden faults unnoticed or unrecognisable in the course of viewing, for any perceived or actual shortcoming of an asset.

Bidder and Auction Buyer acknowledges that the receipt of product(s) shall be administered directly with Principal. Auction Buyer shall have the opportunity to put forward any remarks, complaints whatsoever in relation to product(s) within this scope towards Principal.

Auction Organiser shall ensure the IT background required for the administration of online auction; if, however, any unforeseeable technical issues arise in the course of system operation beyond its scope of control, of which it becomes aware only through subsequent feedback or complaint beyond the temporal scope of bidding by way of Auction Bidder or any other entity, that shall be without prejudice to the relevant online auction and outcome thereof. Should Auction Bidder notice any IT malfunction of the system in the auction process that hinders it in bidding, Auction Organiser shall be notified forthwith either via telephone or a written message posted via the online interface. If any IT or technical issue is detected during the 5-minute bidding time, Auction Organiser may be contacted directly while detection of any such issue shall not mean the relaunching of bidding for the relevant item. Upon closing of the online auction, however, Auction Organiser shall have no opportunity to consider any complaint or remark filed in relation to the IT system operation; investigation of any subsequent complaint filed for IT reasons or repeated administration of auction bidding shall not be possible with reference thereto. Auction Organiser is in no position to offer the opportunity for repeated administration of auction bidding with reference to reporting an IT malfunction.

Relaunching of bidding for a particular item is not possible even if Bidder detects a technical issue; Auction Organiser is in no position to comply with any such request from Bidder.

Attention of Bidders shall be drawn to participation in online auction bidding functioning optimally on Bidder’s side upon Internet access with minimum 128 kbps downloading and 64 kbps uploading bandwidth being provided! 

Minimum Internet browser requirement:

Internet Explorer 8.0

Mozilla Firefox 3.6

Google Chrome 12.0

Opera 10.0

Safari 5.0

Authorisation of running Java scripts is a must. 

Any technical issue arising in connection with online auction may be settled and relevant remarks may be filed with Auction Organiser only!

5.     Protection of Individual Rights

Auction Organiser shall solely manage details required for identification of Bidders; compliance with data protection legislation in effect and enforcement of data protection requirements shall be ensured by adherence to the Data Protection Policy featured on the web site. Auction Organiser shall retain the contact details of Bidders and Auction Buyers for the purpose of notification on any future auctions or information. Bidder shall be liable for the authenticity of details specified in the course of registration required for participation in the auction. Modification or correction of such details may be requested from Auction Organiser at any time. Registered clients are obliged to notify Auction Organiser on any modification in details specified in their registrations prior to each bidding.

6.     Bidding

As a prerequisite for participating in online auction, Bidders must register through Auction Organiser’s web site: www.intergavel.hu. Registration must take place at least one (1) day prior to the date of commencement of the relevant online auction. In case of registration within one (1) day preceding the auction, Auction Organiser shall not be liable for administering such registration and thus for ensuring participation by Bidder. Simultaneously with the registration, Bidders shall accept the stipulations of Auction Organiser’s present Policy, which they shall regard as binding for themselves upon acceptance.

One way of bidding is bid of a specific amount, in the course of which Bidder raises the current price by a single bid increment by clicking the “FASTBID” button.

Another way of bidding is automatic bidding, in the course of which, Bidder specifies a so-called maximum bid, i.e. the highest purchase price acceptable to Bidder, up to which amount the system automatically increases the then current highest buying bid amount by the specified bid increment up to the maximum bid specified by Bidder.

Bidder must pay particular attention to entering and verifying the proper amount when setting the maximum bid, with a particular view to Auction Organiser undertaking no liability whatsoever for consequences arising from any mistyping thereof.

In case of any unexpected IT or technical malfunction in entering a bid, Bidder will unambiguously notice any improper functioning of the system or if the online interface rejects a bid. In which instance, it will be required first to examine its own online interface as to whether the online auction interface is being updated continuously. Should the problem persist, Bidder must forthwith notify Auction Organiser directly with a view to remedying such malfunction; remarks may only be taken into account in this case. Relaunching of bidding for a particular item is not possible even if Bidder detects a technical issue.

Prices are specified in EUR in each and every case; however, may be paid in both EUR and HUF. The adjudication price payable by Auction Buyer is subjected to 27% VAT in addition to the auctions fee specified on the particular Auction Information page.

Auction Organiser shall consider highest bids not attaining the Minimum Price at its own discretion, and shall accept it in consultation with Principal. Auction Organiser shall have exclusive powers in during the auction as to modifying and withdrawing any announced item until its official adjudication.
A bid made may not be withdrawn. The system requests confirmation upon making each and every bid, after which the bid may not be withdrawn. The maximum bid value may only be increased and may only be decreased to an amount one bid increment higher than the then current bid price.
Extension of item closing: In case an additional buying bid is received within five (5) minutes before the closing of the auction, then the auction period shall automatically be extended by five (5) minutes reckoned from the last buying bid (bidding). The auction shall be closed after the first time the last five (5) minutes preceding the closing of the auction lapses without an additional bid of an amount higher than the previous being received.

7.     Special Bidding

1. a) Auction Organiser may apply a special instance of online auction in a distinguished manner whereby the Auction Buyer closing the auction with the highest bid will not automatically become the owner of the relevant product, i.e. auction award is reserved. In which instance, the bidding stage described above will not close upon expiry of five (5) minutes without a bid, but will call for Principal’s approval within one (1) workday following the closing of the auction, which shall also constitute an acceptance of the auction’s outcome to close the process. In this instance, Principal reserves the right to decide a successful closing of the auction subject to the auction’s outcome and thus to approve such outcome. In case of approval by Principal within one (1) workday, the online auction is closed finally, while payment and ownership will be governed by the general auction rules. Thus, in case of such preserved auction sale, Auction Buyer’s payment obligation shall arise upon the closing of online auction but prior to approval by Principal; however, Principal’s selling obligation shall not arise immediately but only upon approval of the auction’s closing.

Should Principal decide within the one (1) workday reserved for approval of the auction’s closing to not accept the auction’s outcome, i.e. to not sell the product(s) announced for online auction bidding within the scope of the relevant auction, the auction shall be closed without any outcome. Principal may also decide to announce a new online auction for the same products. All such decision-making authorisation is solely present on Principal’s side, participants of such online auctions shall automatically accept such circumstances simultaneously with their participation.

Auction Organiser shall in every case distinguish such auctions in order to raise attention of Bidders thereto by pointing out “auction award is reserved” by the auction description.

1. b) Another special online auction form under the principle of sale by award reservation announced by Auction Organiser with special awareness is bundle auction. Auction Organiser reserves the right to announce certain products of certain online auctions through bundle auction if their functions or intended purposes are associated with one another or complement each other.

Such auction is administered through auction bidding relevant to individual products, i.e. bidding for individual products is possible according to the general rules of procedure. However, in respect of products for which bundle auction is also announced, the auction relevant to individual products shall be closed with “award reservation”. Bundle auction shall commence upon the closing of auction relevant to individual products under the function of the combinations button from the amount being the highest winning bid in the individual item auction in case of items in the bundle. In case no bid was cast for an item within the bundle, that particular item shall be included in the bundle auction at the announcement amount. Bidding for the bundle may commence thereafter subject to the general rules of procedure.

If no valid bid is received for bundle items announced within the scope of bundle auction, then the highest valid bid cast for each relevant product shall finally become the winning bid, and thus the reserved award to its Bidder shall become finalised.

If a valid bundle bid is received, then the Bidder of the highest valid bid received for the bundle shall be awarded the auction by virtue of bundle sale priority.

Auction Organiser is in no position to specify the date and time of commencement of bundle auction, which is aligned with the closing of the auction of individual items and shall commence within ten (10) minutes thereafter.

8.     Auction Buyer’s Obligations

Payment obligations, delay and consequences thereof:

Bidding at the online auction constitutes payment obligation on behalf of Bidders. Bidders submit each and every bid in awareness thereof and by undertaking such payment obligation. As such payment obligation arises, the amount of a bid cast by a Bidder may be enforced as a claim in case of valid and successful auction closing.

The auction will be awarded to the Bidder having made the highest valid bid during the particular auction. In case of bids of identical amounts, the bid appearing sooner in the system will precede the subsequent bid(s) of identical amount. Bidder shall be notified of being awarded the auction in an electronic message sent to the e-mail address specified in the course of registration.

In case of separate distinguished online auctions featuring high-value items, Auction Organiser reserves the right to request Bidders to submit a banking certificate attesting financial coverage as a pre-requisite for bidding at the auction upon registration. In this event, Bidders may only bid for the products at the relevant online auction if having preliminarily presented the banking statement specified by Auction Organiser on the availability of Bidder’s financial coverage in the manner and format specified by Auction Organiser. Auction Organiser shall announce auctions subjected to the presentation of such statements through a special call for bids. Bidders with no financial coverage specified by Auction Organiser or failing to present it by the deadline specified may not participate in the relevant auction.

The winner of the bid, i.e. Auction Buyer shall be obliged to pay the amount of the full purchase price plus VAT and commission due to Auction Organiser by wire transfer to the bank account number specified in the Auction Information within one (1) workday reckoned from such electronic notification. Should Auction Buyer fall in delay with the payment by omission of such deadline, its payment obligation shall prevail as of such deadline for the amount increased by the then current statutory default interest. Such claim may be enforced by legal means upon any unsuccessful expiry of the payment deadline. Auction Organiser may charge the costs of collection applicable in case of non-payment to Auction Buyer. In case Auction Buyer is in delay with the payment beyond five (5) workdays, Auction Organiser is entitled to withdraw from the particular sale pursuant to a special relevant authorisation by Principal and on behalf of Principal, and to offer the asset to the next highest Bidder, who will thus take the place of the winning Bidder in case the previous bid thereof is maintained. In case the next highest Bidder to the winning Bidder makes a written statement maintaining the previous bid thereof, the original Auction Buyer (winner) failing to pay shall bear the obligation to pay the purchase price difference arising between the bids consequently, payment of which is due within five (5) days reckoned from a relevant written notice, after which it will be in delay, and the claim plus interest and collection costs shall become enforceable by legal means. An Auction Buyer failing to fulfil its payment obligation after its winning bid shall be excluded from the system on the tenth (10th) day following the payment deadline according to its registration, i.e. may not participate in any further auction. Auction Organiser is also entitled to enforce payment collection enforceable by legal means in relation to non-payment against a non-paying Auction Buyer in addition to and together with the exclusion from the system. Exclusion from auction may only be lifted upon settlement of debts – purchase price plus interest and procedural costs. Auction Organiser reserves the right to decide the lifting of exclusion of non-paying Auction Buyers at its own discretion. Thus, exclusion will not be lifted automatically upon settlement of debts, it is subject to specific consideration by Auction Organiser intended to sort out Auction Buyers with airy payment intentions or insolvency in the interest of other Bidders. In case shorter deadlines are set for the sale of products by auction or for the transportation of products for any other reason, Auction Organiser may set a shorter, five (5) day deadline for exclusion from the system against an entity in delay with payment. Collection by legal means may also take place upon expiry of five (5) days reckoned from the payment deadline in this case as well. Non-paying winning Auction Buyer shall be notified of the exclusion electronically in every case.

Should a sale fail to be concluded with the Bidder having made the next highest bid, in the absence of maintaining its bid, Auction Organiser shall be entitled to offer the assets for auction again. Thereafter, the foregoing shall prevail.

In case Auction Organiser issues the invoice of assets purchased directly to Auction Buyer, Auction Organiser shall still not incur any liability for the presence, quality and condition of products, such liability shall still be borne by Principal. Auction Organiser shall only act as an intermediary in the transfer procedure.

Delivery obligations, delay and consequences thereof:

Following payment of the full purchase price, Auction Buyer shall be obliged to deliver the assets within the specified deadline reckoned from the issuing of the Delivery Authorisation. Failure to do so shall be governed by the rules of possession without a title. Disassembly, loading and delivery of machinery and equipment may solely be commenced after fulfilment of its payment obligation, after having received the delivery authorisation. Auction Buyer shall bear the costs of disassembly and delivery. Auction Organiser shall have no liability for any accident occurring in the course of auctioning, viewing, disassembly and delivery; all may view, disassemble or deliver assets at their own liability only. Commissioning of machinery and equipment on site is strictly forbidden. Violators of such prohibition shall bear full tort liability.

All visitors of the auction shall have full tort liability for damages caused by them in the course of viewing or visiting whether they be in human life or health, buildings or other assets, and all may view assets at their own risk and shall have individual liability for any accident sustained. Auction Organiser explicitly precludes any liability for any accident arising in the course of visiting from the disassembly of machinery or the condition of equipment.

Throughout the auction, until the closing of the auction, Principal may decide to withdraw any particular product announced for auction if not willing to sell it in this manner. Auction Organiser shall notify Bidders on such withdrawal of products from auction. Auction Organiser shall not undertake responsibility for such withdrawal of products but will acknowledge Principal’s decision. Should Principal withdraw from selling the entire product list announced for online auction prior to auction closing, Auction Organiser shall notify Bidders accordingly and the auction shall close without any outcome. Auction Organiser undertakes no liability for Principal’s such withdrawal. Withdrawal of products from selling by auction is Principal’s sole liability.

Auction Buyer shall arrange transportation of product(s) purchased by auction directly with Principal.

Should Auction Buyer fail to deliver an asset by the specified deadline, Auction Organiser or Principal shall not have the obligation of storage or safekeeping, and may repeatedly sell such asset following withdrawal from the sales contract. Auction Buyer shall be obliged to pay a storage fee of 1,000.00 HUF per sqm for each day affected by such delay during the term of storage, safekeeping. Auction Organiser shall reserve the right to the legal or natural entity performing such storage determining the storage fee in departure from the aforementioned amount whereby such determining shall take into account the special circumstances of safekeeping, the costs incurred in relation thereto, and the then current usual fee of storage. Auction Buyer shall be obliged to pay all costs of such repeated sale, sales loss and costs incurred beyond the deadline.

Auction Buyer shall fulfil its delivery obligation within the specified delivery deadline reckoned from the receipt of the Delivery Authorisation whereas breach of such delivery obligation shall not waive any payment obligation and shall entitle Auction Organiser to sell the asset to another Bidder – after withdrawal. The original Auction Buyer in breach of such obligation shall bear all costs incurred in connection with storage, safekeeping and dropping out as winner. In case payment of such costs proves unsuccessful, Auction Organiser shall forthwith take action for collection by statutory way.
Any entity taking part, making bids or buying at the auction for and on behalf of others shall stand in for Auction Buyer’s payment obligations as cash-paying guarantor.

In case Principal is unable to hand over to Auction Buyer a product purchased by bidding at the time of takeover, such dispute shall be settled directly by Auction Buyer and Principal; Principal’s sole safe-keeping and storage liability shall prevail in this instance. Auction Organiser bears no liability for failure to release the purchased product for such reason; Auction Organiser shall transfer the purchase price of the particular product back to Auction Buyer with ten (10) workdays reckoned from noticing such issue at the latest. In case Auction Buyer intends to enforce any claim for compensation whatsoever for such reason, it may solely be done towards Principal, Auction Organiser precludes its liability for releasing the product.

In case the product is released in a condition worse with reference to its condition upon prior inspection, is damaged or shows a technical malfunction, the conditions relevant to products not handed over shall still prevail, whereas Auction Buyer must substantiate the fact of damage or deterioration of condition having occurred in the meantime, however, Auction Organiser’s liability is precluded in this event as well, it shall only act in the course of repayment in case of potentially justified withdrawal. Settlement of any disputes and claims arising beyond that shall take place between Auction Buyer and Principal.

9.     Liability, Ownership

Auction Buyer shall become the owner of the asset upon payment of the full purchasing price, while all obligations of an owner shall also pass onto Auction Buyer, such as property liability for the asset, risk of loss, damage, impairment, water and fire damage, act of God, theft and break-in as regards both the asset and equipment and accessories thereof. Auction Buyer shall bear damages and risks after payment of the full purchasing price.

Participation in Auctions is possible upon acceptance of the terms and conditions of this Auction Policy.

In case the terms and conditions of this Auction Policy are modified, Auction Organiser must forthwith and accordingly notify Auction Buyers having registered previously; while Auction Buyers shall acknowledge further participation by accepting this amended Auction Policy, which they shall regard as binding for themselves and participation in electronic auctions thereafter will become possible upon such repeated acceptance.

10.    Complaints, contacts

Any questions, remarks and issues arising in relation to online auction shall be reported directly to Auction Organiser by e-mail to info@intergavel.hu or by phone to +36 23 887 468 by potential Bidders having registered via Auction Organiser’s web site. Auction Organiser shall forthwith investigate and respond to reports received in this manner.