GENERAL TERMS AND CONDITIONS

This constitutes a collection of irrevocable purchase offers relating to the lots published on the platform www.gobidreal.it.
It is specified that the irrevocable purchase offers, which are the subject of this collection, do not entail for the PRINCIPAL any obligation or commitment to sell nor any charge for any mediation or consultancy (other than the assignment given to the AGENT), nor do they constitute invitations to offer, nor offers to the public under Art. 1336 of the Italian Civil Code, nor solicitations of public savings under Art. 94 et seq. of Legislative Decree 58/1998.
For the participation rules and all information relating to the above-mentioned collection, please refer to the specific conditions published on the platform www.gobidreal.it.

Table of Contents:
 
·         Art. 1. Definitions
·         Art. 2. Applicability
·         Art. 3. Publication and conduct of auctions and notices
·         Art. 4. Methods of participation and submission of offers
·         Art. 5. Irrevocable purchase offer
·         Art. 6. Obligations of the Principal
·         Art. 7. Buyer's Premium
·         Art. 8. Charges
·         Art. 9.  Security Deposit
·         Art. 10. Payments
·         Art. 11. Transfer of ownership
·         Art. 12. Warranties
 
 
Art. 1 Definitions:
 
GOBID INTERNATIONAL AUCTION GROUP S.r.l.: Owner and manager of the online auction website http://www.gobidreal.it, with registered office in Milan, Via P.O. Vigliani, 19, VAT No. - Tax Code 09441470961, authorized for auction sale with License issued by the Police Commissioner of Milan No. 13/2008 of 9/04/2008.
gobidreal.it: Registered trademark owned by GOBID INTERNATIONAL AUCTION GROUP S.r.l.
www.gobidreal.it: The website managed by GOBID INTERNATIONAL AUCTION GROUP S.r.l. for the sale of real estate properties on assignment given by the Principal.
Principal: Responsible for the Procedure
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Procedure:insolvency procedure declared by the Court or sale assignment given by private parties
Auction: Competitive online sale of real estate properties published on www.gobidreal.it
Notice: Publication of a notice concerning the sale or collection of offers/expressions of interest on real estate properties published on www.gobidreal.it
Lot: Asset or set of assets present, subject to Auction or Notice
Registered user: User registered on www.gobidreal.it
Auction registration: Authorization requested by the registered user to participate in the individual Auction
Bidder Number: Identifier of the registered User
General Conditions: these terms and conditions
Specific Conditions: Specific terms and conditions of the Auction
Deposit: Amount to be paid for participation in the Auction.
Base Price: Starting price of individual lots
Reserve price: Minimum price whose achievement authorizes the provisional award of the lot
Current price: Current price of the Lot, resulting from the bid(s) made by users
Static offer: amount entered by the user to increase the current price of the lot
Maximum offer: (proxy bid) Maximum amount that the user intends to pay for the lot
Minimum bid increment: Predefined amount added to the current price necessary to formalize the static offer.
Extra-time : Extension of the useful time to place bids in the auction  (see Extra-time section)
Provisional award: Communication addressed to the highest bidder by GOBID INTERNATIONAL AUCTION GROUP S.r.l.  
Award price: Award amount of the lot, net of any Buyer's Premium due and any additional tax and non-tax charges
Buyer's Premium: Fee due to the agent calculated on the taxable amount of the award price

 
2. Applicability: 
 
These conditions apply to the use of the website www.gobidreal.it and, in particular, to the publication and conduct of auctions and notices, as well as to the terms and conditions of user participation.
 
     2.1. Specific conditions
 
For each auction or notice, where provided, the Specific Conditions will be published, indicating all specific information relating to the auction or notice itself and the lots
These conditions are applicable unless otherwise indicated by the Specific Conditions of each individual auction or notice 
 
 
 
3.  Publication and conduct of auctions and notices
 
The auctions and notices will be published on the website www.gobidreal.it with indication of the dates of conduct and the lots present and, where provided, the general and specific terms and conditions. 
 
GOBID INTERNATIONAL AUCTION GROUP S.r.l, in agreement with the Principal, reserves the right to cancel, extend or interrupt the auction or notices.
 
 
4. Methods of Participation and Submission of Offers.
4.1 Notice  
 
The user's participation in the notice mode will be governed by the specific conditions, where present.
 
4.2 Online auction
4.2.1 Registration process
To participate in the sale, the user must register on the website www.gobidreal.it, entering their personal data, request registration for the auction, accepting its terms and conditions.
 
The data entered by the party during registration on the website and for auctions will be the same as those to which the award may be attributed and to which the property will be registered. All requested payments, before and after the sale, must be made by the registered parties.  Any powers of attorney or delegations may be considered subject to authorization by the Principal.
 
The user must pay the required security deposit by bank transfer to the account specified in the specific sale conditions and on the registration page.
Where indicated in the specific sale conditions, payment of the deposit may be made online by credit card.
 
The user is required to specify the auction number for which they intend to participate and simultaneously send an accounting copy of the transfer made to the address [email protected]
 
The deposit must be credited strictly before the auction deadline, unless otherwise indicated in the specific sale conditions.
 
In addition to crediting the security deposit, in order to be enabled to participate in the auction, the user must provide the following documents by uploading them in the 'My Documents' section or by sending them to the address [email protected]
 
-       IF A NATURAL PERSON:
 
-       Copy of a valid identity document of the person to whom the property will be registered (it will not be possible to register the property to a person other than the one who signs the registration, according to the procedure described in point 5.1)
-       Copy of the tax code
-       If the bidder is married under a legal community property regime, the corresponding data of the spouse must also be provided, with the relevant copy of the identity document (document not binding for enabling purposes but required in the event of adjudication)
 
-       IF COMPANIES OR ENTITIES:
 
-       Certificate of the C.C.I.A.A. showing the incorporation of the company and the powers conferred on the bidder
-       Copy of a valid identity document of the director or legal representative
-       Copy of the tax code of the director or legal representative
-       Any duly legalized translation of the company registration certificate, if the company is not Italian
 
 
-       Special power of attorney received or authenticated by a notary, in the case of participation through a representative
 
Where required by specific conditions, further documents will be requested which will supplement the above.
 
5. Irrevocable purchase offer 
 
5.1 Procedure for finalizing offers at the auction base price
 
The combined effect of the crediting of the security deposit, the formalization of registration for the auction – with express acceptance of the general and specific sale conditions published online at www.gobidreal.it – and the sending by the user of all supporting documentation required, as specified above in point 4.2.1, shall be considered equivalent to an irrevocable purchase offer at the price set as the auction base price for each sale attempt and shall itself constitute a binding purchase commitment on the part of the user.
 
Such offer shall be formalized on the platform directly by the Agent by means of an online bid, on behalf of the first user who has completed the finalization procedure described above.
           
Where there are several participants who have formalized their irrevocable purchase offer in accordance with the procedures described above, and none of the bidders places a higher bid on the Platform, the highest bidder and therefore provisional awardee shall be the one who, first in chronological order:
 
            - has completed the aforementioned procedure.
 
The Agent shall take care to inform all bidders by any means whether or not they are the highest bidders at the time of formalization of the aforementioned irrevocable purchase offer. 


5.2 Submission of bids for increase of the base price.
 
Placing of higher bids
 
The offer formalized for the first bidder may be exceeded by higher bids placed by any authorized user.
 
The user who wishes to be the highest bidder (and therefore provisional awardee) must have placed the highest offer at the end of the online auction.
 
Clearly, if there are several participants who place higher bids on the auction base price offer, the user recognized as "first bidder" may also compete for the award of the lots by placing higher bids on the current price.
 
To be awarded the lot(s) for sale, users will be invited to increase the price indicated in the auction (and therefore to place at least one higher bid) in the following ways:
 
 
 
5.2.1 Static offer 
 
By "static offer" is meant a bid at the price published online, plus a predetermined minimum increase.
 
 
5.2.2 Maximum offer (Proxy Bid):
 
By "proxy bid" is meant a maximum-amount offer. It corresponds to the maximum figure that the user is willing to bid for each lot. The value of the proxy bid is entered manually by each bidder.
 
Until the maximum offer placed by the user is exceeded by a higher offer, that same user will be the highest bidder and therefore provisional awardee.
 
The current price will automatically adjust based on the amount of the predetermined increases, up to reaching the value set as the "maximum offer".
 
The value of the maximum offer (proxy bid) placed by a user will not be visible to other users.
 
 
5.3. Validity of offers
 
In any case (static offer – maximum offer – free offer), offers will be considered valid only if submitted within the duration of the auction.
 
5.3.1 Extra time 
 
If a winning offer is placed in the 5 minutes before the auction closes, the time available to place another offer will be extended by a further 5 minutes from the last bid received. This continues indefinitely, for each winning offer received within the 5 minutes of extra time, until the available time ends.
 
In the case of extra time, 5 minutes must pass without any additional offer being registered from the last bid received before the auction can be considered definitively closed.
 
Automatic higher bids in the case of a maximum offer (proxy bid) will also be considered winning offers.
 
 
5.4. Award of lots
 
At the end of each auction solution, following an investigative phase, the highest bidders will be sent a confirmation of provisional award pursuant to art. 107 of the Italian Bankruptcy Law, against which they will be required to make payments by the deadline set in the specific sale conditions.
 
The provisional award will be granted to the bidder who has submitted the highest offer for each lot, or, in the absence of further higher bids, to the bidder who has been recognized as the first, in chronological order, to have completed the finalization procedure of the irrevocable purchase offer described in point 5.1.
 
In the case of award, the sale price must be paid in full by bank transfer made out to the procedure within the terms established in the specific conditions, under penalty of forfeiture and definitive loss of the security deposit.
 
The deed of sale will be executed by notarial deed in accordance with the procedures established by the Principal (described in point 11, Transfer of ownership)
 
Offers submitted are binding and constitute a formal purchase commitment. If the awardee fails to pay the consideration within the terms established in the specific sale conditions, or if the award should lapse, the sale shall be automatically terminated and the security deposit shall be retained, in accordance with the procedures set out in the "Security Deposit" section.  In such case, the award will be granted successively in favor of the next highest bidder, who has completed the procedure described in point 5.1 or placed a higher bid, on the basis of what is set out in point 5.2.
 
 
 
5.5 Other provisions
 
Where provided by law, the Principal, as person responsible for the sale procedure, may exercise the right provided by art. 107, fourth paragraph, of the Italian Bankruptcy Law, and suspend the sale in the event of receipt of an improved irrevocable purchase offer for an amount not less than ten percent of the offered price
 
In any case, GOBID INTERNATIONAL AUCTION GROUP S.r.l. reserves the right to suspend the auction or the award of the lots in agreement with the Principal.
 
 
 
6. Obligations of the Principal
Pursuant to art. 107 of the Italian Bankruptcy Law, the Principal undertakes to give notice by notification to each mortgage creditor or creditor otherwise holding a privilege at least 20 days before the date set for the conclusion of each sale attempt, and to inform the Delegated Judge and the Creditors' Committee of the outcome of each sale attempt, filing the relevant documentation with the Court Registry.
 
The Principal declares that any registrations relating to pre-emption rights, transcriptions of foreclosures and conservatory seizures and any other encumbrance burdening the real property put up for sale will be cancelled pursuant to art. 108 of the Italian Bankruptcy Law once the sale has been executed and the price fully collected. Unless otherwise provided in the specific sale conditions, all formalities for cancellation will be carried out by the awardee at its own care and expense.
 
7. Buyer’ s Premium 
The fee due to the Agent shall be exclusively borne by the buyer and indicated with the wording Buyer’s Premium.  It shall be calculated on the award amount of the asset, according to the methods indicated in the specific conditions of sale.
 
 
8. Charges 
 
Notarial charges, statutory taxes and all expenses relating to the sale, fiscal and non-fiscal, shall be borne by the buyer (except those listed above in point 6). The communication regarding the exact amount of the charges and their correct specification shall be made by the Principal as soon as possible.
 
The Principal shall do so, taking into account the tax regime of the transaction and any         reliefs that the buyer intends to use. The Principal shall therefore be required to verify whether the transaction is subject to VAT or registration tax and to specify, if the conditions are met, whether it intends to use the reverse charge.
 
At the end of the sale, the Agent shall finally ask the successful bidder whether it intends to use the first-home benefit or another tax benefit and inform the Principal accordingly, so that it can calculate the exact amount that the buyer will be required to pay in terms of taxes.
 
The successful bidder shall pay the expenses within and no later than the deadlines indicated in the specific conditions of sale.
 
 
 
9. Security deposit
 
 
Participation in the auction is conditional upon the payment of a mandatory security deposit defined in the specific conditions of sale.
 
Before being enabled to participate in the auction, participants must pay the amount established above by bank transfer or, where provided in the specific conditions, by credit card through the platform. Payments must be made as established in the specific conditions of sale.
The deposit must be credited strictly before the auction deadline.
 
For payment by bank transfer, it is recommended to make a BIR-type transfer (high-value transfer)
 
If the auction participants do not win any asset, the deposit will be returned within 20 working days of the award, without interest.
In the event of award of one or more lots, the security deposit will be returned after the buyer has completed the transfer of ownership of the real estate purchased at auction by notarial deed, subject to authorization provided by the Principal. In such case, the security deposit may be retained both to cover any charges attributable to the Procedure, at the Principal's discretion, and to cover any other services provided by the Agent.
In the event of payment of the security deposit by credit card, the deposit will be collected into the Agent's current account, which will return the amount so retained according to the methods described above.
If the buyer wins at least one lot at auction, it shall be at the Agent's discretion, in agreement with the Principal, to deduct the deposit from the total amount due by the buyer.
If, in the event of award, after paying the deposit, the bidder does not complete the purchase within the deadlines established in the specific conditions of sale, as regards both the award price and the Buyer’s Premium and any additional charges, the sale shall be automatically terminated and the deposit shall be retained as liquidated damages.
 
10. Payments
 
The provisional successful bidder of one or more lots is required to comply with the specific auction conditions, which will specify the deadlines for  payment of both the awarded lots and the Buyer’s Premium  due as well as additional charges,    and the related compensation clauses in the event of failure to comply with the aforementioned conditions.
All payments must be made in full exclusively by bank transfer, unless otherwise provided in the specific conditions.  The details will be specified upon the user's receipt of the confirmation of provisional award.
 
In the event that payment of the amounts due is not completed within the established deadlines, in agreement with the Principal, the sale shall be automatically terminated and the security deposit shall be retained as liquidated damages, with consequent forfeiture of the award.
 
 
 
 
11 . Transfer of ownership
 
The transfer of ownership shall take place only after full payment of the award price and expenses, as provided in the specific conditions of sale, by notarial deed according to the methods established by the Principal, unless otherwise indicated in the specific conditions of sale.
In the case of judicial sales, the Principal shall finally be responsible for notifying the Delegated Judge so that the latter in turn proceeds with the cancellation of prejudicial registrations on the properties subject to transfer pursuant to Art. 108 of the Bankruptcy Law, as indicated in Art. 6.
After the deadlines provided for payments in the specific conditions of sale, in the event of failure to complete the transfer of ownership, the sale shall be automatically terminated and the amount paid by the successful bidder as Buyer’s Premium shall be retained by the Agent as liquidated damages. The amount paid by the successful bidder as security deposit shall, instead, be retained according to the rules provided in the Security Deposit section.
 
12.  Warranties
 
GOBID INTERNATIONAL AUCTION GROUP S.r.l.  is not responsible for the total or partial correspondence of the descriptions of the lots present at auction or in the advertisements published on the platform.
 
For all matters not provided for in these general conditions or in the specific conditions, the provisions contained in the Terms of Use of the website www.gobidreal.it shall apply.
 
The registered user is aware of possible objective and subjective issues arising from the use of an online auction or online advertisement carried out via the internet for which GOBID INTERNATIONAL AUCTION GROUP S.r.l. cannot be held responsible.
 
GOBID INTERNATIONAL AUCTION GROUP S.r.l.  shall not be liable for direct and/or indirect damage or liability except in cases of its willful misconduct or gross negligence. Under no circumstances GOBID INTERNATIONAL AUCTION GROUP S.r.l.  shall be liable for: direct actions of the user that may cause damage or malfunction to the system, unavailability of display and/or use of www.gobidreal.it, unlawful use of www.gobidreal.it, any event after the conclusion of the auction.
 
For all matters not expressly provided for in these conditions, general and specific, reference is made to the rules of the Italian Code of Civil Procedure and the Bankruptcy Law.
The sale of real estate is deemed forced (Art. 2919 Italian Civil Code). It is arranged for goods seen and liked in the factual and legal state in which they are found. In a forced sale, the warranty for defects of the thing does not apply. It cannot be challenged on grounds of damages. (Art. 2922 Italian Civil Code).
 
Any liability of the Agent regarding the existence of third-party rights over the goods subject to sale is excluded (Art. 2920 Italian Civil Code).
           
The sale of real estate takes place in the factual and legal state in which they are found, with all any appurtenances,     accessions, claims and actions, active and passive easements. The sale is by lump sum and not by measure, and without any warranty for defects       or other lack.
 
ABUSES, VIOLATIONS, ENCUMBRANCES, COMPLIANCE’ WITH CURRENT REGULATIONS
For further information regarding any abuses, violations, encumbrances or failures of compliance with current regulations of the lots on sale, please refer to the attached appraisal.
 
The lots are sold seen and liked in the state in which they are found.
Viewing the lots at auction is strongly recommended, GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal decline any responsibility for any errors, omissions and inaccuracies in the photos, descriptions and any other detail indicated at auction or in the advertisements,  for this reason viewing the lots is strongly recommended in order to Verify the actual condition of the goods in auction.
 
No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or by the Principal
 
The buyer, by accepting these conditions, indemnifies GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty or third-party claim.


In the event of any disputes arising concerning the interpretation of the provisions contained in the general and specific conditions set out on the platform, possibly translated into other languages, the Italian version of the text shall prevail.