GENERAL TERMS AND CONDITIONS 

Table of contents:
1.    Definitions

•    GOBID INTERNATIONAL AUCTION GROUP SRL: 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, hereinafter also referred to as "Gobid Group".
•    Seller: the party that owns the Asset offered for sale.
•    Gobidreal.it: registered proprietary trademark of Gobid Group.
•     www.gobidreal.it: web portal operated by Gobid Group for the sale of Assets on commission, also referred to as the "Website" or the "Platform".
•    Auction: an online competitive process, to be conducted through the website www.gobidreal.it on an asynchronous basis, in which anyone interested in participating must register and submit a bid in accordance with the applicable Specific Conditions, within the date range indicated in the Auction details. Identified on the www.gobidreal.it platform as an "Auction".
•    Lot: an Asset or group of Assets available for sale in an individual sale process.
•    Sale process: a competitive procedure aimed at maximising the proceeds from the sale of the asset, conducted electronically and managed through the www.gobidreal.it portal, in compliance with the rules and terms set out in the Conditions of Sale applicable to the process. Please note that the term "Sale process" or "sale", where used in these terms, is intended solely as a descriptive and conventional term and may refer, depending on the provisions set out in the description of the Lot, not only to procedures aimed at transferring ownership of the asset, but also to competitive procedures with a different legal purpose (such as, by way of example and without limitation, leasing, renting, etc.). In all cases, for the purposes of determining the legal nature of the relationship and the effects arising from the process, only the information expressly stated in the description of the individual Lot shall be authoritative and shall prevail over these definitions in the event of any discrepancy.
•    User: a user of the www.gobidreal.it platform.
•    Registered User: a User registered on www.gobidreal.it, also referred to as a Bidder.
•    "Register for the auction": a function that allows the User to register for the auction and submit a bid.
•    Bidder Number: identifier of the Registered User.
•    General Conditions: these terms and conditions.
•    Specific Conditions: the specific terms and conditions applicable to the sale process, available in the Auction details.
•    Notice of Sale: the terms and conditions applicable to the sale process.
•    Conditions of Sale: a generic term referring collectively to the conditions of sale set out in the General Conditions, the Specific Conditions and, where applicable, the Notice of Sale.
•    Security deposit/deposit: the amount to be paid in order to submit a bid and participate in the sale process, where required.
•    Starting Price: the starting price set for each Lot.
•    Reserve Price: the minimum price, once reached, that authorises the award of the Lot, unless otherwise specified in the conditions applicable to the sale process.
•    Current Price: the current price of the Lot.
•    Single Bid: the amount entered by the User to increase the current price of the Lot.
•    Maximum Bid (proxy bid): the maximum amount that the User intends to pay for the Lot.
•    Minimum Increment: the predetermined amount that must be added to the Current Price in order to increase the bid during competitive bidding.
•    Extra Time: the extension of the Auction duration to allow further bids during competitive bidding.
•    Sale Price: the Lot award amount determined when the sale process is deemed concluded.
•    Award: the conclusion of the sale process with the Lot awarded to the highest bidder. 
•    Award Confirmation: a notice sent by Gobid Group to the party identified as the highest bidder at the end of the sale process, summarising the award price and the Auction fees (Buyer’s Premium) payable.
•    Successful Bidder: the party to whom the Lot is awarded as the highest Bidder.
•    Sale Price/Award Price: the amount for which the Lot is awarded, as determined at the end of the sale process.
•    Buyer’s Premium: fees or auction rights due to GOBID GROUP for managing the sale process, payable by the Successful Bidder and calculated as a percentage of the award price, plus VAT. 

2.    Applicability
These Conditions govern the terms and conditions of the sale process and apply together with:
•    The Terms of Use of the www.gobidreal.it website, accepted during registration on the website;
•    The Specific Conditions published in the Auction details of interest. 
•    The Notice of Sale, where applicable.
If the Specific Conditions and/or the Notice of Sale (where applicable) provide for terms that differ from those set out in these General Conditions, the specific provision set out in the Specific Conditions and/or the Notice of Sale (where applicable) shall prevail.
In the event of any conflict between provisions set out in the Specific Conditions and the Notice of Sale, the provisions of the Notice shall prevail.
These conditions, together with the Specific Conditions and/or the Notice of Sale, where applicable (collectively, the Conditions of Sale), govern the procedures for conducting and participating in the Sale Process.
By participating, the Registered User declares that they have carefully reviewed the Conditions of Sale applicable to the sale process and accept them without reservation.
For information regarding use of the website and the processing of personal data provided, please refer to the "Terms of Use" and "Privacy Policy" published on the www.gobidreal.it website.

3.    Main Conditions of the sale process 
Through the www.gobidreal.it platform, Gobid Group promotes the sale of Assets solely on the basis of information provided by the Seller, without verification or revision. 
For this reason, please note that Gobid Group:
•    is not liable for any errors, omissions or inaccuracies in the information published online.
•    does not own, nor shall it be deemed the custodian of, the Assets covered by this sale process, which are owned by the Seller. 
•    is not liable for any defects, faults or lack of quality, whether total or partial, in the Assets offered for sale. 
All Assets are sold by the Seller in the condition in which they are at the time of sale ("as seen and approved"), without any warranty as to their characteristics or state of preservation. 
For this reason, before submitting a bid, you are strongly advised to inspect the Assets and the documentation made available and to carry out your own checks, at your own care and expense, before submitting a bid.
By completing the bidding process as described below, the User submits a binding bid; it will therefore not be possible to amend or withdraw the bid submitted. Users are advised to always check their bid before confirming it.

4.    Inspection of the Assets
Interested parties may inspect the assets:
•    online, through the available documentation;
•    in person, by appointment at [email protected] or by calling +39 02 86882269, or through the "Request an Inspection" section. 
Inspections are not permitted on Saturdays, Sundays or public holidays. Please note that inspections cannot be guaranteed during the 7 days preceding the deadline for submitting offers; you are advised to request an inspection well in advance.
Where necessary, interested parties may be required to provide any documentation requested for the purposes of the inspection.
By requesting an inspection, each interested party declares that they understand that the Assets will be inspected under their sole responsibility, and expressly indemnifies Gobid Group and/or the Seller; Gobid Group and the Seller accept no liability for any personal injury and/or property damage arising during the inspection. Each interested party is therefore responsible for conducting the inspection with the appropriate precautions, taking into account the nature of the Asset being inspected. 

5.    Conduct of the Sale and Methods of Participation
The sale will be conducted on the www.gobidreal.it platform, subject to the terms and conditions set out in the General Conditions, the Specific Conditions and, where applicable, the Notice of Sale, as applied to this sale.
The Auction will run for the period specified in the auction listing; during this period, any interested party may register for the Auction and submit an offer.
For each Lot, the following are specified: 
•    Starting Price, meaning the starting price. 
•    Minimum Bid Increment, meaning the predetermined minimum amount to be added to the current price.
•    Reserve Price, meaning the minimum price which, if reached, allows the Asset to be awarded to the highest Bidder at the end of the Auction, unless otherwise indicated in the Specific Conditions. If the Reserve Price is not reached, the offer will be subject to the Seller's sole and unfettered discretion, and the Seller may freely accept or reject it.
The description in the Auction listing forms an integral part of these Conditions of Sale.

Participation in the Auction
To participate in the Auction and submit an offer, the User must:
1.    access their reserved area, if already registered, or register on www.gobidreal.it, in accordance with the site's Terms of Use, providing the following details:
•    if the Bidder is an individual, their surname, first name, tax code (and VAT number if they intend to make the purchase in the course of a business or professional activity), place of residence/domicile, marital status and, if married/in a civil partnership under the statutory community property regime, the Bidder's telephone number and the details of the bank account held in the Bidder's name from which the security deposit is paid; these details will be used to return the deposit if the Bidder is unsuccessful; 
•    if the Bidder is a legal entity, its name, registered office, company tax code/VAT number, the name of its legal representative, telephone number and the details of the bank account held in the Bidder's name from which the security deposit is paid; these details will be used to return the deposit if the Bidder is unsuccessful;
2.    register for the Auction in which they are interested by clicking the "Register for the Auction" button in the Auction listing. When registering for the Auction, the User will be asked to expressly accept the General and Specific Conditions of Sale applicable to this sale;
3.    pay the security deposit, as specified in the Specific Conditions of Sale and stated in the relevant Auction listing.
4.    provide the documentation required for participation, as specified in the Specific Conditions of Sale.
The combined effect of receipt of the security deposit, formalisation of registration for the Auction—with express acceptance of the Conditions of Sale published online at www.gobidreal.it—and submission by the User of all supporting documentation requested, as specified above, shall be deemed equivalent to an irrevocable offer to purchase at the starting price set for each sale process and shall itself constitute a binding commitment to purchase by the User. 
This offer will be formalised directly on the platform by Gobid Group by placing an online bid on behalf of the first User to complete the procedure described above. 
If several participants have formalised 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 highest bidder and, consequently, the successful bidder will be the person who first completed the aforementioned procedure.
To be valid, subsequent offers must exceed the highest offer received by at least the minimum bid increment and must be received before the end of the auction. They will be submitted directly by the authorised User on the www.gobidreal.it Platform, in accordance with the procedures published on the platform itself. The Auction is subject to a reserve price; all offers below the reserve price will be submitted to the Seller, who reserves the right to accept or reject them at its sole discretion. Decisions made shall not give bidders or any third parties any rights in relation to the award in this sale process, including the right to seek any potential compensation for damages/indemnity.
Once the above steps have been completed, Gobid Group will authorise the User, who may then submit an offer for the Lot of interest, in accordance with the applicable Conditions of Sale.
The details entered by the User when registering on the site will be the details to which any award will be assigned.
All required payments must be made by the users registered for the individual auctions.  

Security Deposit
Participation in the Auction is conditional upon receipt of the Security Deposit, as specified in the Specific Conditions of Sale and indicated during the Auction registration process.
If participants in the Auction are not awarded any Asset, unless otherwise stated in the Specific Conditions, the deposit will be returned without interest within 20 business days of the Auction deadline.
If one or more lots are awarded, the security deposit, unless otherwise stated in the Specific Conditions, will be returned after ownership has been transferred to the successful bidder. 
Without prejudice to the right to claim compensation for any greater loss, the security deposit will be retained as a penalty if the payment deadlines are not met for reasons attributable to the Successful Bidder.

Types of Offers
The User may choose to submit an offer as a "static offer" or a "dynamic offer" (proxy bid), as described below:
-    A static offer is considered a fixed-price offer equal to the amount entered by the User in accordance with the Conditions applicable to this sale.
-    A maximum dynamic offer (proxy bid) is considered a dynamic-price offer for the Lot and is not visible to other users.
When a registered User submits a static offer, it may be outbid by another user's offer. The User must then submit another static offer to be awarded the Lot.
If a registered User submits a maximum offer (proxy bid), it will remain valid until it is exceeded by an offer from another user that is higher than the maximum offer. Bids will be placed automatically in accordance with the specified minimum increments, with the aim of outbidding other offers received until the amount entered is reached.
Offers will be considered valid only if submitted during the Auction period. 

Extra-time
In the case of an Online Auction, if a winning bid is placed in the 5 minutes before the auction closes, the time available to place another bid will be extended by a further 5 minutes from the last bid received. This will continue indefinitely: for every winning bid received within the 5-minute extra-time period, the time available to place another bid will be extended by a further 5 minutes from the last bid received, for all Lots included in the Auction.  Automatic bids in the event of a maximum bid (proxy bid) will also be considered winning bids.

6.    Award, payment of the price and transfer of ownership
Once the bidding has ended, the person who submitted the best valid bid by the end of the bidding period or any extension thereof will be declared the successful bidder.
The deadlines for paying for the Lot awarded, the expenses connected with the sale and the auction fees accrued following the award and payable to Gobid Group will begin upon Confirmation of Award.
Payment must be made within the deadlines and according to the procedures indicated in the Specific Conditions of Sale.
In the event of an award, unless otherwise indicated in the Specific Conditions, the security deposit paid to participate in the sale will be made available to the successful bidder, without interest, only after the transfer of ownership has been completed in accordance with the Specific Conditions of Sale referred to herein. 
The transfer of ownership to the successful bidder will therefore take effect only after the aforementioned notarial deed has been executed.
The security deposit may be withheld to cover any expenses connected with the sale, including the applicable Buyer’s Premium, if unpaid by the successful bidder, without prejudice to the right to seek recovery of any remaining amount.
It is understood that ownership will be transferred only after the full payment of the awarded price, the expenses connected with the sale and the Auction Fees (Buyer’s Premium) payable to the auction house Gobid Group for managing the online sale.
The buyer is responsible for notarial fees, statutory taxes and all expenses connected with the sale, whether tax-related or otherwise.
Unless otherwise indicated in the Specific Conditions of Sale, the goods are sold free of encumbrances; if any exist, they will be cancelled by the Seller, at the Seller’s expense, in advance or at the time of sale, unless otherwise indicated in the Specific Conditions or agreed between the Parties.
Submitting a bid in accordance with the Conditions of Sale applicable to the online sale constitutes a binding commitment by the User to purchase. Accordingly, if payment is not made by the established deadline for reasons attributable to the User, the award will be declared forfeited, the sale terminated and the security deposit paid will be retained as a penalty and compensation, without prejudice to the right to seek compensation for any greater loss.

7.    Auction fees (Buyer’s Premium)
The successful bidder is responsible for the auction fees (Buyer’s Premium), plus VAT, payable to Gobid Group for managing the sale. These are calculated as a percentage of the awarded price, as indicated in the Specific Conditions of Sale, to which reference is made.
The right to payment of the Buyer’s Premium accrues upon award. Without prejudice to the provisions of the section “Award, payment of the price and transfer of ownership”, in the event of non-payment, including partial non-payment, Gobid Group reserves the right to take action to recover the debt, without prejudice to any other rights and actions provided for by law. 
If the award is forfeited for reasons attributable to the successful bidder, the latter will in all cases remain liable for the above-mentioned fees, which, if paid, will therefore be retained by Gobid Group.

8.    Publication
All sales are published on the website www.gobidreal.it, together with the dates of the sale, the Conditions of Sale, information on the lots available for bidding and details of the sale. 
The duration of the Sale is indicated in the Auction listing and in the specific conditions and/or the Notice of Sale (if applicable). Unless otherwise specified, the times shown in the specific conditions and on the platform refer to the time zone indicated by the server time published on the website.
It is understood that, at the sole discretion of Gobid Group and/or the Seller, the sale or award may in any case be suspended and/or postponed, including due to technical problems connecting to the system caused by server or network malfunctions, without giving rise to any claim for compensation or indemnity by the registered user and/or successful bidder.
All operations carried out by the user on the platform are recorded. The records contained in the log file generated by the system constitute full and exclusive evidence between all parties to these competitive proceedings regarding the content and timing of documents/messages exchanged electronically. Persons who register declare and acknowledge that the system records constitute full evidence of the relationship between them. These records are confidential and will not be disclosed to third parties, except in cases expressly provided for or by order of the Judicial Authority.
GOBID INTERNATIONAL AUCTION GROUP SRL may under no circumstances be held liable for any system malfunctions that may in any way prejudice or delay the delivery of communications to the person registering, or for the unavailability of access to and/or use of www.gobidreal.it or the unlawful use of www.gobidreal.it by Users.
GOBID INTERNATIONAL AUCTION GROUP SRL reserves the right to cancel submitted bids if discrepancies are found with the Conditions of Sale applicable to the sale in question.
In the event of any disputes concerning the interpretation of the provisions contained in the general and specific conditions published on the platform, which may have been translated into other languages, the Italian version of the text shall prevail.
9.    Warranties 
Each Item is sold by the Seller on an “as is, where is” basis, in the condition in which it is at the time of sale, without warranties. 
The existence of any defects, lack of quality or non-conformity of the item sold, or charges of any kind, shall not give rise to any compensation, indemnity or reduction in price.
Through the platform www.gobidreal.it, Gobid Group promotes the sale of Items owned by the Seller, based on the information provided by the Seller, without processing or verification. For this reason, Gobid Group accepts no liability for any errors, omissions or inaccuracies in the information published online. 
It is also specified that Gobid Group does not own, nor is it to be considered the Custodian of, the Items covered by this sale, which are owned by the Seller. 
Gobid Group therefore accepts no liability for any defects, flaws or total or partial lack of quality of the Items offered for sale.  
All Items are sold in the condition in which they are at the time of sale (“as seen and approved”), without warranties as to their characteristics or state of preservation. 
For this reason, before submitting a bid, prospective bidders are strongly advised to inspect the Items and the documentation made available, and to carry out their own checks, at their own expense and responsibility, before submitting a bid.
Each participant is responsible for reviewing in advance, in full and carefully, the General and Specific Conditions of Sale applicable to this sale and the documentation published online. 
In view of the above, by submitting a bid, the User declares that they are aware that Gobid Group accepts no liability for any errors, omissions or inaccuracies in the photographs, descriptions, quantities or any other details indicated in the Auction.