GENERAL TERMS AND CONDITIONS

This constitutes a collection of irrevocable purchase offers concerning the lots published on the platform www.gobidreal.it.
It is specified that the irrevocable purchase offers, subject of this collection, do not entail for the PRINCIPAL any obligation or commitment to sell nor any charge for any brokerage or consultancy (outside the assignment conferred on 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 concerning 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 announcements
· 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 - Tax Code 09441470961, authorized to sell at auction with License issued by the Police Commissioner of Milan no. 13/2008 dated 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 on assignment conferred by the Principal.
Principal: Person responsible for the Procedure
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Procedure:insolvency procedure declared by the Court or sale assignment conferred by private individuals
Auction: Competitive online sale of real estate published on www.gobidreal.it
Announcement: Publication of a notice concerning the sale or collection of offers/expressions of interest in real estate published on www.gobidreal.it
Lot: Asset or set of assets present, subject of Auction or Announcement
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 the achievement of which authorizes the provisional award of the lot
Current price: Current price of the Lot, resulting from the bid(s) made 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 intends to pay for the lot
Minimum increment: Pre-established amount added to the current price required to formalize the static bid.
Extra-time : Extension of the time available 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 announcements, as well as to the terms and conditions of user participation.

2.1. Specific Conditions

For each auction or announcement, where provided, the Specific Conditions will be published, indicating all specific information relating to the auction or announcement itself and the lots
These conditions apply unless otherwise indicated by the Specific Conditions of each individual auction or announcement



3. Publication and conduct of auctions and announcements

Auctions and announcements will be published on the website www.gobidreal.it with indication of the dates and 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 announcements.


4. Methods of Participation and Submission of Offers.
4.1 Announcement

User participation in the announcement 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 subject during registration on the website and auctions will be the same to which the award may eventually be attributed and in whose name the property will be registered. All required payments, before and after the sale, must be made by the registered subjects. 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 security deposit must mandatorily be credited before the auction deadline, unless otherwise indicated in the specific sale conditions.

In addition to the crediting of the security deposit, the user, to be enabled to participate in the auction, must provide the following documents by uploading them in the "My Documents" section or by sending them to [email protected]

- IF A NATURAL PERSON:

- Copy of a valid identity document of the subject in whose name the property will be registered (it will not be possible to register the property in the name of a subject other than the one who signs the registration, according to the procedure described in point 5.1)
- Copy of tax code
- If the bidder is married under a legal community property regime, the corresponding data of the spouse must also be indicated, sending a copy of the relevant identity document (document not binding for enabling purposes but required in case of award)

- IF A COMPANY or ENTITY:


Where required by specific conditions, additional documents will be required which will supplement the aforementioned ones.

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, of the formalization of registration for the auction – with express acceptance of the general and specific conditions of sale, published online at www.gobidreal.it – and of the user's sending of all required supporting documentation, as specified above in point 4.2.1, will be considered equivalent to an irrevocable purchase offer at the price set as the auction base for each sale attempt and will itself constitute a binding purchase commitment on the part of the user.

Said offer will be formalized on the platform directly by the Mandatary via online bid, on behalf of the first user who has completed the finalization procedure described above.

Where there are multiple participants who have formalized their irrevocable purchase offer, according to the methods described above, and none of the bidders places a higher bid on the Platform, the best bidder and therefore provisional successful bidder will be the one who, first, in chronological order:

- has completed the aforementioned procedure.

The Mandatary will take care to inform all bidders by any means whether or not they are the best bidders at the time of formalization of the aforementioned irrevocable purchase offer.


5.2 Submission of bids for increase of the base price.

Formulation of higher bids

The offer, formalized for the first bidder, may be exceeded by higher bids, placed by any enabled user.

The user who wishes to be the best bidder (and therefore provisional successful bidder) must have placed the highest offer at the end of the online auction.

Clearly, where there are multiple participants who place higher bids on the auction base price offer, the user recognized as the 'first bidder' may also compete for the award of the lots by placing higher bids on the current price.

In order to be awarded the lot(s) on sale, users will be invited to increase the price indicated in the auction (and therefore to place at least one higher bid) according to the following methods:



5.2.1 Static bid

By 'static bid' is meant a bid at the price published online, plus a predetermined minimum increment.


5.2.2 Maximum bid (Proxy Bid):

By 'proxy bid' is meant a maximum amount bid. It corresponds to the maximum amount that the user is willing to offer for each lot. The value of the proxy bid is entered manually by each bidder.

Until the maximum bid placed by the user is exceeded by a higher bid, that user will be the best bidder and therefore provisional successful bidder.

The current price will automatically adjust based on the amount of the predetermined increments, up to reaching the value set as the 'maximum bid'.

The value of the maximum bid (proxy bid) placed by a user will not be visible to other users.


5.3. Validity of bids

In any case (static bid – maximum bid – free 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 5 minutes before the closing of the auction, the time allowed to place another bid will be extended by a further 5 minutes from the last bid received. So on indefinitely, for each winning bid received within the 5 minutes of extra time, until the conclusion of the allowed time.

In the event of extra time, 5 minutes must pass without any additional bid being recorded from the last bid received, before the auction can be considered definitively closed.

Automatic higher bids in the case of a maximum bid (proxy bid) will also be considered winning bids.


5.4. Award of lots

At the end of each auction outcome, following an investigative phase, the best bidders will be sent a confirmation of provisional award pursuant to Art. 107 of the Bankruptcy Law, against which they will be required to make payments by the deadline set in the specific conditions of sale.

The provisional award will be attributed 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 event of award, the sale price must be paid in full by bank transfer made out to the procedure within the terms set 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 according to the methods established by the Principal (described in point 11, Transfer of ownership)

Bids submitted are binding and constitute a formal purchase commitment. If the successful bidder does not pay the consideration within the terms set in the specific conditions of sale, or if the award should lapse, the sale will be automatically terminated and the security deposit will be retained, according to the methods set out in the 'Security deposit' section. In that case, the award will be assigned successively in favor of the next best bidder, who has completed the procedure described in point 5.1 or placed a higher bid, on the basis of what is illustrated in point 5.2.



5.5 Other provisions

Where provided by law, the Principal, as person responsible for the sale procedure, may avail itself of the power provided by Art. 107, fourth paragraph, of the 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 price offered

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 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, as well as 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 rights of preemption, transcriptions of attachments and conservatory seizures and any other encumbrance burdening the real properties put up for sale will be cancelled pursuant to Art. 108 of the Bankruptcy Law once the sale has been executed and the price has been fully collected. Unless otherwise provided in the specific conditions of sale, all formalities for cancellation will be carried out at the care and expense of the successful bidder.

7. Buyer's Premium
The fee due to the Mandatary will be exclusively borne by the purchaser and indicated with the wording Buyer's Premium. It will 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 costs relating to the sale, whether fiscal or not, will be borne by the purchaser (without prejudice to those set out above in point 6). Communication regarding the exact amount of the charges and their correct specification must be made by the Principal as soon as possible.

The Principal must act accordingly, taking into account the tax rules governing the transaction and any reliefs that the purchaser intends to use. The Principal will 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 Mandatary will lastly ask the successful bidder whether it intends to use the first-home benefit or another tax benefit and will inform the Principal accordingly, so that it may calculate the exact amount that the purchaser will be required to pay in terms of taxes.

The successful bidder must pay the expenses within and no later than the terms indicated in the specific conditions of sale.



9. Security deposit


Participation in the auction is conditional upon 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 means ofbank transfer or, where provided in the specific conditions, by credit card through the platform. Payments must be made as established in the specific sale conditions.
The security deposit must be credited before the end of the auction.

For payment by bank transfer, it is recommended to make a BIR type transfer (bank transfer of relevant amount)

If the auction participants do not win any asset, the security deposit will be returned within 20 working days from the award, without interest.
In the event of winning one or more lots, the security deposit will be returned after the buyer has completed the transfer of ownership of the real estate properties 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 discretion of the Principal, 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 bank account, which will return the amount so retained according to the methods described above.
If the buyer wins at least one lot at auction, the Agent, in agreement with the Principal, shall have the option 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 terms established in the specific sale conditions, whether as awarded price or Buyer's Premium and any additional charges, the sale shall be automatically terminated and the deposit will be retained as a compensatory penalty.

10. Payments

The provisional winning bidder of one or more lots is required to comply with the specific auction conditions where the terms for payment of both the awarded lots and the Buyer's Premium due as well as additional charges will be specified, and the related compensation clauses in case of failure to comply with said conditions.
All payments must be made in full exclusively by bank transfer, unless otherwise indicated in the specific conditions. The details will be specified upon receipt by the user of the provisional award confirmation.

In the event that payment of the amounts due is not completed within the established terms, in agreement with the Principal, the sale shall be automatically terminated and the security deposit will be retained as a compensatory penalty, with consequent forfeiture of the award.




11 . Transfer of ownership






12. Warranties

GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not responsible for the failure or partial correspondence of the descriptions of the lots present in the auction or in the listings 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 the possible objective and subjective issues arising from the use of an online auction or online listing conducted via internet for which GOBID INTERNATIONAL AUCTION GROUP S.r.l. cannot be held liable.

GOBID INTERNATIONAL AUCTION GROUP S.r.l. is not liable for direct and/or indirect damage or liability except in cases of willful misconduct or gross negligence by the same. GOBID INTERNATIONAL AUCTION GROUP S.r.l. absolutely is not 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 Code of Civil Procedure and the Bankruptcy Law.
The sale of the real estate properties is deemed forced (Art. 2919 c.c.). It is ordered for the properties as seen and liked in the factual and legal state in which they are located. In a forced sale, the warranty for defects of the thing does not apply. It cannot be contested on account of damages. (Art. 2922 c.c.).

Any liability on the part of the Agent regarding the existence of third-party rights over the assets subject to the sale is excluded (Art. 2920 c.c.).

The sale of the real estate properties takes place in the factual and legal state in which they are located, with all their possible appurtenances, accessions, claims and actions, active and passive easements. The sale is as a whole and not by measure, and without any warranty for defects or other lack.

ABUSES, VIOLATIONS, ENCUMBRANCES, COMPLIANCE WITH CURRENT REGULATIONS
For further information relating to any abuses, violations, encumbrances or non-compliance with current regulations of the lots for sale, reference is made to the attached appraisal.

The lots are sold as seen and liked in the state in which they are located.
Viewing of the lots at auction is strongly recommended. GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal decline any liability for any errors, omissions and inaccuracies in the photos, descriptions and any other detail indicated in the auction or in the listings; for this reason, viewing of the lots is strongly recommended in order to verify the actual condition of the assets at 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 relating to 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.