GENERAL TERMS AND CONDITIONS

This is a collection of irrevocable purchase offers concerning the lots published on the platform www.gobidreal.it.
Please note that the irrevocable purchase offers covered by this collection do not entail any obligation or commitment to sell on the part of the PRINCIPAL, nor any costs for any brokerage or consultancy services (other than the engagement granted to the AGENT), and do not constitute invitations to make offers, offers to the public pursuant to art. 1336 of the Italian Civil Code, or solicitations of public savings pursuant to art. 94 et seq. of Legislative Decree 58/1998.
For the participation rules and all information concerning the aforementioned 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 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. 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 operator of the online auction website http://www.gobidreal.it, with registered office in Milan, Via P.O. Vigliani, 19, VAT No. and Tax Code 09441470961, authorised to conduct auctions under Licence No. 13/2008 issued by the Police Commissioner 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 engagement granted by the Principal.
Principal: Person responsible for the proceedings
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Proceedings:insolvency proceedings declared by a Court or a sale engagement granted by private individuals
Auction: Competitive online sale of real estate published on www.gobidreal.it
Listing: Publication of a notice concerning the sale or 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: User registered on www.gobidreal.it
Auction Registration: Authorisation requested by the registered user to participate in an individual Auction
Bidder Number: Registered User identification number
General Terms and Conditions: These terms and conditions
Specific Conditions: Specific terms and conditions of 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, when reached, authorises the provisional award of the lot
Current Price: 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: Predetermined amount added to the current price, required to place a static bid.
Extra time : Extension of the time available for placing bids in an auction (see Extra time section)
Provisional Award: Notice sent to the highest bidder by GOBID INTERNATIONAL AUCTION GROUP S.r.l.  
Award Price: Amount of the award for the lot, excluding any Buyer’s Premium due and any additional tax or other charges
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 Conditions
 
Specific Conditions will be published for each auction or listing, where applicable, setting out all specific information relating to the auction or listing itself and the lots.
These terms and conditions apply unless otherwise stated in the Specific 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 take place and the lots available 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 conditions, where applicable.
 
4.2 Online Auction

4.2.1 Registration process

To participate in the sale, the user must register on the website www.gobidreal.it, enter their personal details, request registration for the auction and accept its terms and conditions.
 
The details entered by the user when registering on the website and for the auctions will be the same details to which any award will be made and in whose name the property will be registered. All payments required, both before and after the sale, must be made by the registered parties.  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 ends, unless otherwise indicated in the specific terms and conditions of sale.
 
In addition to the security deposit being credited, in order to be authorised to participate in the auction, the user must provide the following documents by uploading them to the "My Documents" section or sending them to [email protected]
 
-       IF AN INDIVIDUAL:
 
-       Copy of a valid identity document belonging to the person in whose name the property will be registered (the property cannot be registered in the name of anyone other than the person who completes the registration, in accordance with the procedure described in section 5.1)
-       Copy of the tax code
-       If the bidder is married under the statutory community of property regime, the corresponding details of their spouse must also be provided, together with a copy of the spouse's identity document (this document is not binding for the purposes of the authorization but required in the event of a successful bid)



-       IF COMPANIES or ENTITIES:
 
-       Recent company registration certificate or certificate from the Chamber of Commerce, Industry, Handicrafts and Agriculture (C.C.I.A.A.)
-       Copy of a valid identity document of the person who signed the offer on behalf of the company and, if that person is not the legal representative, a copy of the document evidencing the relevant powers 
-       Copy of the tax code of the person who signed the offer
-       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 event of participation through a representative   

 
Where required by specific terms and conditions, additional documents will be requested to supplement those listed above.
 
5. Irrevocable purchase offer
 
5.1 Procedure for completing offers at the auction starting price
 
The combined effect of crediting the security deposit, formalizing registration for the auction—with express acceptance of the general and specific terms of sale published online at www.gobidreal.it—and the user's submission of all supporting documentation requested, as specified above in section 4.2.1, shall be deemed equivalent to an irrevocable purchase offer at the price set as the starting price for each sale attempt and shall itself constitute a binding purchase commitment on the part of the user.
 
This offer will be entered on the platform directly 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 formalized their irrevocable purchase offers in the manner described above, and none of the bidders places a higher bid on the Platform, the best bidder and, therefore, the provisional successful bidder shall be the person who, first in chronological order:
 
            - completed the above procedure.
 
The Agent shall inform all bidders by any means whether or not they are the best bidders when the aforementioned irrevocable purchase offer is formalized. 

 
5.2 Submission of offers to increase the starting price.
 
Placing higher bids
 
The offer entered for the first bidder may be exceeded by higher bids placed by any authorized user.
 
To be the best 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 auction starting price, the user recognized 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 indicated 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 preset minimum increment.
 
 
5.2.2 Maximum bid (Proxy Bid):
 
A “proxy bid” means an offer for a maximum amount. This is the maximum amount the user is willing to offer for each lot. Each bidder enters the value of their proxy bid manually.
 
Until the user's maximum bid is exceeded by a higher offer, that user will remain the best bidder and, therefore, the provisional successful bidder.
 
The current price will be adjusted automatically according to the preset bid increments, until it reaches the amount set as the “maximum bid”.
 
The value of a user's maximum bid (proxy bid) will not be visible to other users.
 
 
5.3. Validity of offers
 
In all cases (static bid – maximum bid – free offer), offers will be considered valid only if submitted during the auction period.
 
5.3.1 Extra time
 
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 process will continue indefinitely for every winning bid received within the 5-minute extra-time period, until the available time has elapsed.
 
In the event of extra time, 5 minutes must pass without any additional offer being recorded after the last bid received before the auction can be considered definitively closed.
 
Automatic higher bids in the event of a maximum bid (proxy bid) will also be considered winning bids.
 
 
5.4. Awarding of lots
 
At the end of each auction process, following a review phase, the best bidders will be sent confirmation of provisional award pursuant to Article 107 of the Bankruptcy Law. They will then be required to make payment by the deadline specified in the specific terms of sale.
 
The provisional award will be granted to the bidder who submitted the highest offer for each lot or, if no higher bids were placed, to the bidder recognized as the first, in chronological order, to have completed the procedure for submitting the irrevocable purchase offer described in section 5.1.
 
In the event of a successful bid, the full purchase price must be paid by bank transfer to the account in the name of the proceedings within the deadlines specified in the specific terms, failing which the bidder will forfeit the award and permanently lose the security deposit.
 
The sale deed shall be executed by means of a notarial deed in accordance with the arrangements established by the Principal (described in section 11, Transfer of ownership).
 
Submitted offers 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 of sale, or if the award is revoked, the sale shall be automatically terminated and the security deposit shall be retained in accordance with the arrangements set out in the “Security deposit” section. In this case, the award shall be granted successively to the next best bidder, who must have completed the procedure described in section 5.1 or placed a higher bid, as explained in section 5.2.
 
 
 
5.5 Other provisions
 
Where permitted by law, the Principal, as the party responsible for the sale procedure, may exercise the right provided for in Article 107, fourth paragraph, of the Bankruptcy Law and suspend the sale upon receipt of an improved irrevocable purchase offer for an amount no less than ten percent of the price offered.
 
In any event, 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 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 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 rights of pre-emption, records of attachments and precautionary seizures, and any other encumbrances on the real estate put up for sale, will be cancelled pursuant to Article 108 of the Bankruptcy Law once the sale has been completed and the full price collected. Unless otherwise provided in the specific terms of sale, all formalities for cancellation shall be carried out at the expense of the successful bidder.
 
7. Buyer’s Premium

The fee payable to the Agent shall be borne exclusively by the buyer and is indicated as the Buyer’s Premium.  It shall be calculated on the hammer price of the asset, in accordance with the procedures specified in the specific terms of sale.
 
 
8. Costs
 
The buyer shall be responsible for notarial fees, statutory taxes and all expenses relating to the sale, whether tax-related or otherwise.   The Principal shall provide information on the exact amount of the costs and a correct breakdown thereof as soon as possible.
 
The Principal shall make the necessary arrangements, taking into account the tax treatment of the transaction and any reliefs the buyer intends to claim. The Principal shall therefore be required to verify whether the transaction is subject to VAT or registration tax and to specify, where the relevant requirements are met, 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 another tax benefit and shall inform the Principal accordingly, so that the Principal can calculate the exact amount of taxes payable by the buyer.
 
The successful bidder shall pay the costs within the time limits specified in the specific terms of sale.
 
 
 
9. Security deposit
 
Participation in the auction is conditional upon payment of a mandatory security deposit, as specified in the specific terms 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 terms, by credit card through the platform. Payments shall be made as specified in the specific terms of sale.
The security deposit must be credited before the auction closes.
 
For payment by bank transfer, a BIR transfer (high-value bank transfer) is recommended.
 
If participants in the auction are not successful in purchasing any assets, the security deposit shall be refunded, without interest, within 20 business days of the award.
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 notarized deed, subject to authorization from the Principal. In such cases, at the Principal’s discretion, the security deposit may be retained to cover any costs attributable to the Proceedings and to cover any other services provided by the Agent.
If the security deposit is paid by credit card, it shall be charged to the Agent’s current account, and the Agent shall refund the amount thus retained in accordance with the procedures described above.
If the buyer is successful in purchasing 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 successful in the auction, the bidder does not complete the purchase within the time limits established in the specific terms of sale, including payment of the hammer price, the Buyer’s Premium and any additional costs, the sale shall automatically be rescinded and the security deposit shall be retained as liquidated damages.
 
10. Payments
 
The provisional successful bidder for one or more lots shall comply with the specific terms of the auction, which shall specify the deadlines for payment of both the lots awarded and the Buyer’s Premium due, as well as any additional costs, and the related compensation clauses in the event of non-compliance with those terms.
All payments must be made in full exclusively by bank transfer, unless otherwise provided in the specific terms.  The bank details shall be provided when the user receives confirmation of the provisional award.
 
If the amounts due are not paid within the established time limits, the sale shall automatically be rescinded, in agreement with the Principal, and the security deposit shall be retained as liquidated damages, with the award consequently being revoked.
 
 
 
 
11. Transfer of ownership
 
Ownership shall be transferred only after full payment of the hammer price and costs, as provided for in the specific terms of sale, by means of a notarized deed in accordance with the procedures established by the Principal, unless otherwise specified in the specific terms 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 adverse registrations on the real estate being transferred, pursuant to Article 108 of the Bankruptcy Law, as indicated in Article 6.
Once the payment deadlines set out in the specific terms of sale have passed, if the transfer of ownership has not been completed, the sale shall automatically be rescinded 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 listed at auction or in advertisements published on the platform and the actual lots.
 
For all matters not covered by these general terms or the specific terms, the provisions contained in the website’s Terms of Use at www.gobidreal.it shall apply.
 
The registered user acknowledges that objective and subjective issues may arise from using an online auction or online advertisement 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 any 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 ended.
 
For all matters not expressly covered by these general and specific terms, reference is made to the provisions of the 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 viewed and accepted, in their actual and legal condition. In a forced sale, no warranty is given against 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 with regard to 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, together with all appurtenances,     accessions, rights and claims, and active and passive easements. The sale is of the property as a whole and not by measurement, and is made without any warranty against defects       or other deficiencies.
 
UNAUTHORIZED WORKS, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH APPLICABLE REGULATIONS
For further information regarding any unauthorized works, violations, encumbrances or failures to comply with applicable regulations affecting the lots for sale, please refer to the attached appraisal.
 
The lots are sold as viewed and accepted, in their current condition.
Viewing the lots up for auction is strongly recommended. GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal disclaim all liability for any errors, omissions or inaccuracies in the photographs, descriptions or any other details provided for the auction or in the advertisements. For this reason, viewing the lots is strongly recommended in order to verify the actual condition of the items up for 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 published on the platform, which may have been translated into other languages, the Italian version of the text shall prevail.

Unless otherwise specified, the times stated in the specific terms and conditions and on the platform refer to the time zone indicated by the server time published on the website