GENERAL TERMS AND CONDITIONS

This is a collection of irrevocable purchase offers relating to the lots published on the platform www.gobidreal.it.
Please note that the irrevocable purchase offers covered by this collection do not impose any obligation or commitment to sell on the PRINCIPAL, nor any costs for any brokerage or consultancy services (other than the assignment granted to the AGENT), and do not constitute invitations to make offers, offers to the public ex Art. 1336 of the Italian Civil Code, or solicitations of public savings ex Art. 94 et seq. of Legislative Decree 58/1998.
For the participation rules and all information concerning the above-mentioned collection, please refer to the specific terms published on the platform www.gobidreal.it.

Table of Contents:
 
·         Art. 1. Definitions
·         Art. 2. Applicability
·         Art. 3. Publication and conduct of auctions and listings
·         Art. 4. Participation procedures and submission of offers
·         Art. 5. Irrevocable purchase offer
·         Art. 6. Obligations of the Principal
·         Art. 7. Buyer’s Premium
·         Art. 8. Costs
·         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 operator of the online auction website http://www.gobidreal.it, with registered office in Milan, Via P.O. Vigliani, 19, VAT No. - Tax Code 09441470961, authorised to conduct auction sales under Licence no. 13/2008 issued by the Chief of Police of Milan on 9/04/2008.
gobidreal.it: Registered trademark owned by GOBID INTERNATIONAL AUCTION GROUP S.r.l.
www.gobidreal.it: The website operated by GOBID INTERNATIONAL AUCTION GROUP S.r.l. for the sale of real estate under an assignment granted by the Principal.
Principal: The party responsible for the Proceedings
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Proceedings:insolvency proceedings declared by the Court or a sale assignment granted by private parties
Auction: Competitive online sale of real estate published on www.gobidreal.it
Listing: Publication of a notice concerning the sale or the collection of offers/expressions of interest for real estate, published on www.gobidreal.it
Lot: An asset or group of assets offered in an Auction or Listing
Registered User: A user registered on www.gobidreal.it
Auction Registration: Authorisation requested by the Registered User to participate in an individual Auction
Bidder Number: Identifier of the Registered User
General Terms and Conditions: These terms and conditions
Specific Terms and Conditions: Terms and conditions specific to the Auction
Deposit: Amount to be paid to participate in the Auction.
Starting Price: Starting price of the individual lots
Reserve Price: Minimum price which, once reached, authorises the provisional award of the lot
Current Price: The current price of the Lot, resulting from the bid(s) placed by users
Static Bid: Amount entered by the user to increase the current price of the lot
Maximum Bid: (proxy bid) Maximum amount the user is willing to pay for the lot
Minimum Bid Increment: A predetermined amount added to the current price, required in order to submit a static bid.
Extra time : Extension of the time available to place bids in an auction (see the Extra time section)
Provisional Award: Notice sent to the highest bidder by GOBID INTERNATIONAL AUCTION GROUP S.r.l.  
Award Price: Amount for which the lot is awarded, excluding any Buyer’s Premium due and any additional fiscal or other costs
Buyer's Premium: Fee payable to the Agent, calculated on the taxable amount of the award price

 
2. Applicability: 
 
These terms and conditions apply to the use of the website www.gobidreal.it and, in particular, to the publication and conduct of auctions and listings, as well as to the terms and conditions governing user participation.
 
     2.1. Specific Terms and Conditions
 
For each auction or listing, where applicable, Specific Terms and Conditions will be published, setting out all specific information relating to the auction or listing itself and the lots.
These terms and conditions apply unless otherwise provided in the Specific Terms and Conditions for each individual auction or listing 
 
 
 
3.  Publication and conduct of auctions and listings
 
Auctions and listings will be published on the website www.gobidreal.it, indicating the dates on which they will take place and the lots offered and, where applicable, 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 suspend the auction or listings.
 
 
4. Participation Procedures and Submission of Offers.
4.1 Listing  
 
The user's participation in the listing process will be governed by the specific terms and conditions, where available.
 
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 details, requesting registration for the auction and accepting its terms and conditions.
 
The details entered by the person when registering on the website and for the auctions will be the same details to which the award may be granted and in whose name the property will be registered. All payments required, both before and after the sale, must be made by the registered persons. Any powers of attorney or authorisations may be considered subject to the Principal's approval.
 
The user must pay the required security deposit by bank transfer to the account specified in the specific terms and conditions of sale and on the registration page.
Where indicated in the specific terms and conditions of sale, the deposit may be paid online by credit card.
 
The user must specify the auction number they intend to participate in and simultaneously send a copy of the bank transfer receipt to [email protected]
 
The security deposit must be credited before the auction closes, unless otherwise specified in the specific terms and conditions of sale.
 
In addition to paying the security deposit, in order to be authorised 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 [email protected]
 
-       IF AN INDIVIDUAL:
 
-       Copy of a valid identity document of the person in whose name the property will be registered (the property cannot be registered in the name of a person other than the person signing up, in accordance with the procedure described in section 5.1)
-       Copy of the tax code
-       If the bidder is married under the statutory community property regime, the corresponding details of their spouse must also be provided, together with a copy of their identity document (this document is not required for authorisation but will be requested in the event of award)
 
-       IF COMPANIES OR ENTITIES:
 
-       Certificate from the Chamber of Commerce showing the company's incorporation and the powers granted to the bidder
-       Copy of a valid identity document of the director or legal representative
-       Copy of the tax identification number of the director or legal representative
-       Where the company is not Italian, any duly legalised translation of the certificate from the Chamber of Commerce
 
 
-       Special power of attorney received or authenticated by a notary, in the event of participation through a representative
 
Where required by the specific terms and conditions, additional documents will be requested and added to those mentioned above.
 
5. Irrevocable offer to purchase 
 
5.1 Procedure for completing offers at the starting auction price
 
The combination of payment of the security deposit, formal registration for the auction—with express acceptance of the general and specific terms and conditions of sale published online at www.gobidreal.it—and submission by the user of all the required supporting documentation, as specified above in section 4.2.1, shall be deemed equivalent to an irrevocable offer to purchase at the price set as the starting price for each auction session and shall itself constitute a binding commitment to purchase on the part of the user.
 
The offer will be entered directly on the platform by the Agent by placing an online bid on behalf of the first user to complete the procedure described above.
           
If there are several participants who have submitted their irrevocable offers to purchase in accordance with the procedure described above, and none of the bidders places a higher bid on the Platform, the user who, first in chronological order:
 
            - completed the aforementioned procedure
shall be deemed the highest bidder and, therefore, the provisional successful bidder.
 
The Agent shall inform all bidders, by any means, whether or not they are the highest bidders when the aforementioned irrevocable offer to purchase is submitted. 

5.2 Submission of offers to increase the starting price.
 
Placing higher bids
 
The offer submitted by the first bidder may be outbid by higher bids placed by any authorised user.
 
To be deemed the highest bidder (and therefore the provisional successful bidder), a user must have placed the highest bid at the end of the online auction.
 
Clearly, if several participants place higher bids on the offer at the starting auction price, the user recognised as the “first bidder” may also compete to win the lots by placing higher bids on the current price.
 
To win the lot(s) for sale, users will be invited to increase the price shown in the auction (and therefore place at least one higher bid) as follows:
 
 
 
5.2.1 Static bid 
 
A “static bid” means a bid at the price published online, plus a predetermined minimum increment.
 
 
5.2.2 Maximum bid (Proxy Bid):
 
A “proxy bid” means a bid up to a maximum amount. This is the maximum amount the user is willing to offer for each lot. Each bidder enters the proxy bid amount manually.
 
Unless the user's maximum bid is exceeded by a higher offer, that user will remain the highest bidder and, therefore, the provisional successful bidder.
 
The current price will be adjusted automatically according to the predetermined bid increments, up to the amount set as the “maximum bid”.
 
The amount of a user's maximum bid (proxy bid) will not be visible to other users.
 
 
5.3. Validity of bids
 
In all cases (static bid—maximum bid—open bid), bids will be considered valid only if submitted during the auction period.
 
5.3.1 Extra time 
 
If a winning bid is placed within the 3 minutes before the auction closes, the time available to place another bid will be extended by a further 3 minutes from the time of the last bid received. This will continue in the same way for each winning bid received within the 3-minute extra-time period, until the bidding period ends.
 
In the event of extra time, 3 minutes must elapse without any additional bid being recorded after the last bid received before the auction can be considered definitively closed.
 
Automatic increments in the case of a maximum bid (proxy bid) will also be considered winning bids.
 
 
5.4. Awarding of lots
 
At the end of each auction, following a review process, the highest bidders will be sent confirmation of provisional award pursuant to Article 107 of the Bankruptcy Law, following which they will be required to make payment by the deadline specified in the specific terms and conditions of sale.
 
The provisional award will be made to the bidder who submitted the highest offer for each lot or, if no further bids have been placed, to the bidder recognised as the first, in chronological order, to have completed the procedure for submitting an irrevocable offer to purchase, described in section 5.1.
 
In the event of an award, the full sale price must be paid by bank transfer to the account in the name of the proceedings, within the deadlines specified in the specific terms and conditions, failing which the award will be forfeited and the security deposit definitively lost.
 
The deed of sale shall be executed by notarial deed in accordance with the procedures established by the Principal (described in section 11, Transfer of ownership).
 
Submitted bids are binding and constitute a formal commitment to purchase. If the successful bidder fails to pay the amount due within the deadlines specified in the specific terms and conditions of sale, or if the award is forfeited, the sale shall be automatically rescinded and the security deposit retained in accordance with the procedures established in the “Security Deposit” section. In such a case, the award shall be made in turn to the next highest bidder who has completed the procedure described in section 5.1 or placed a higher bid, in accordance with the provisions of section 5.2.
 
 
 
5.5 Other provisions
 
Where permitted by law, the Principal, as the party responsible for the sale proceedings, may exercise the option provided for in Article 107, fourth paragraph, of the Bankruptcy Law and suspend the sale upon receipt of an improved irrevocable offer to purchase for an amount no less than ten per cent higher than the offer made.
 
In any event, GOBID INTERNATIONAL AUCTION GROUP S.r.l. reserves the right to suspend the auction or the award of lots in agreement with the Principal.
 
 
 
6. Obligations of the Principal
Pursuant to Article 107 of the Bankruptcy Law, the Principal undertakes to notify each mortgage creditor or creditor otherwise holding a preferential claim at least 20 days before the date set for the conclusion of each sale session, and to inform the Delegated Judge and the Creditors' Committee of the outcome of each sale attempt by filing the relevant documentation with the Court Registry.
 
The Principal declares that any registrations relating to pre-emption rights, registrations of attachments and precautionary seizures, and any other encumbrances on the real estate offered for sale, shall be cancelled pursuant to Article 108 of the Bankruptcy Law once the sale has been completed and the price paid in full. Unless otherwise provided in the specific terms and conditions of sale, all formalities for cancellation shall be carried out at the Principal's expense and under its responsibility.
 
7. Buyer’ s Premium 
The fee payable to the Agent shall be borne exclusively by the buyer and is indicated as Buyer’s Premium.  It shall be calculated on the hammer price of the asset, in accordance with the methods indicated in the specific conditions of sale.
 
 
8. Charges 
 
Notarial fees, statutory taxes and all expenses relating to the sale, whether tax-related or otherwise (except for those listed above in section 6), shall be borne by the buyer. The Principal shall provide information regarding the exact amount of the charges and their correct itemization as soon as possible.
 
The Principal shall make the necessary arrangements, taking into account the tax treatment of the transaction and any tax relief the buyer intends to claim. The Principal shall therefore verify whether the transaction is subject to VAT or registration tax and, where the relevant conditions are met, specify whether it intends to apply the reverse charge mechanism.
 
At the end of the sale, the Agent shall also ask the successful bidder whether they intend to claim the first-home tax benefit or any other tax benefit, and shall inform the Principal accordingly so that it can calculate the exact amount of taxes payable by the buyer.
 
The successful bidder shall pay the charges no later than the deadlines indicated in the specific conditions of sale.
 
 
 
9. Security deposit
 
 
Participation in the auction is subject to payment of a mandatory security deposit, as specified in the specific conditions of sale.
 
Before being authorized to participate in the auction, participants shall pay the amount specified above by bank transfer or, where provided for in the specific conditions, by credit card through the platform. Payments shall be made as set out in the specific conditions of sale.
The security deposit must be credited before the auction closes.
 
For payments by bank transfer, a BIR transfer (high-value bank transfer) is recommended.
 
If participants in the auction do not successfully bid on any assets, the security deposit shall be refunded within 20 business days of the auction closing, without interest.
If one or more lots are awarded, the security deposit shall be refunded after the buyer has completed the transfer of ownership of the real estate purchased at auction by means of a notarial deed, subject to authorization from the Principal. In this case, at the Principal's discretion, the security deposit may be retained to cover any charges relating to the Proceedings or other services provided by the Agent.
If the security deposit is paid by credit card, it shall be charged to the Agent's bank account, and the Agent shall refund the amount so retained in accordance with the procedures described above.
If the buyer is awarded at least one lot at auction, the Agent may, in agreement with the Principal, deduct the security deposit from the total amount due from the buyer.
If, after paying the security deposit and being awarded a lot, the bidder fails to complete the purchase within the deadlines set out in the specific conditions of sale, including payment of the hammer price, the Buyer’s Premium and any additional charges, the sale shall be automatically terminated and the security deposit shall be retained as liquidated damages.
 
10. Payments
 
The provisional successful bidder for one or more lots must comply with the specific conditions of the auction, which shall set out the deadlines for payment of both the lots awarded and the Buyer’s Premium due, as well as any additional charges, and the related compensation provisions in the event of failure to comply with those conditions.
All payments must be made in full exclusively by bank transfer, unless otherwise specified in the specific conditions.  The bank details shall be provided when the user receives confirmation of the provisional award.
 
If payment of the amounts due is not completed by the specified deadlines, the sale shall, in agreement with the Principal, be automatically terminated and the security deposit shall be retained as liquidated damages, resulting in forfeiture of the award.
 
 
 
 
11. Transfer of ownership
 
Ownership shall be transferred only after full payment of the hammer price and expenses, as provided for in the specific conditions of sale, by means of a notarial deed in accordance with the procedures established by the Principal, unless otherwise indicated in the specific conditions of sale.
In the case of judicial sales, the Principal shall also notify the Delegated Judge so that the Judge may arrange for the cancellation of any prejudicial registrations on the real estate being transferred pursuant to Article 108 of the Bankruptcy Law, as indicated in section 6.
Once the payment deadlines set out in the specific conditions of sale have passed, if the transfer of ownership is not completed, the sale shall be automatically terminated and the amount paid by the successful bidder as the Buyer’s Premium shall be retained by the Agent as liquidated damages. The amount paid by the successful bidder as a security deposit shall instead be retained in accordance with the rules set out in the Security Deposit section.
 
12.  Warranties
 
GOBID INTERNATIONAL AUCTION GROUP S.r.l.  shall not be liable for any failure to correspond, or partial correspondence, between the descriptions of lots offered at auction or in advertisements published on the platform and the actual lots.
 
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 acknowledges the potential objective and subjective issues arising from the use of an online auction or online listing conducted over the internet, for which GOBID INTERNATIONAL AUCTION GROUP S.r.l. cannot be held liable.
 
GOBID INTERNATIONAL AUCTION GROUP S.r.l.  shall not be liable for direct and/or indirect damage or liability, except in cases of wilful misconduct or gross negligence on its part. Under no circumstances shall GOBID INTERNATIONAL AUCTION GROUP S.r.l.  be liable for: actions taken directly by the user that may cause damage to or malfunction of the system; inability to view and/or use www.gobidreal.it; unlawful use of www.gobidreal.it; or any event occurring after the auction has closed.
 
For all matters not expressly provided for in these general and specific conditions, reference shall be made to the provisions of the Italian Code of Civil Procedure and the Bankruptcy Law.
The sale of real estate is a forced sale (Article 2919 of the Italian Civil Code). The assets are sold as seen and accepted, in their actual and legal condition. In a forced sale, no warranty is provided for defects in the asset. The sale may not be challenged on grounds of damage. (Article 2922 of the Italian Civil Code).
 
The Agent shall have no liability whatsoever regarding the existence of third-party rights over assets being sold (Article 2920 of the Italian Civil Code).
           
The real estate is sold in its actual and legal condition, with all appurtenances, additions, rights and claims, and positive and negative easements. The sale is of the property as a whole and not by measurement, and without any warranty for defects or other deficiencies.
 
UNAUTHORIZED WORKS, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH CURRENT REGULATIONS
For further information regarding any unauthorized works, violations, encumbrances or instances of non-compliance with current regulations relating to the lots for sale, please refer to the attached appraisal.
 
The lots are sold as seen and accepted, in their current condition.
Inspection of the lots offered at auction is strongly recommended. GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal disclaim all liability for any errors, omissions or inaccuracies in photographs, descriptions or any other details provided for the auction or in the advertisements. For this reason, inspection of the lots is strongly recommended in order to verify the actual condition of the assets being auction.
 
No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal
 
By accepting these terms and conditions, the buyer releases GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty or third-party claim.


In the event of any disputes concerning the interpretation of the provisions contained in the general and specific terms and conditions displayed on the platform, which may have been translated into other languages, the Italian version of the text shall prevail.