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 impose any obligation or commitment to sell on the PRINCIPAL, nor any liability for any brokerage or consultancy services (other than those covered by the assignment given to the AGENT), and do not constitute invitations to make offers, public offers 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 rules governing participation and all information relating to the above 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 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. and Tax Code 09441470961, authorized to conduct auctions under License 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 assignment granted by the Principal.
Principal: The person responsible for the Proceedings
Agent:GOBID INTERNATIONAL AUCTION GROUP S.r.l.
Proceedings:insolvency proceedings declared by a 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 collection of offers/expressions of interest for real estate, published on www.gobidreal.it
Lot: An asset or group of assets offered as part of an Auction or Listing
Registered User: A user registered on www.gobidreal.it
Auction registration: Authorization requested by a 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: 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, if reached, authorizes 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 the Extra time section)
Provisional Award: Notification 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 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 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 and the lots.
These terms and conditions apply unless otherwise specified 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, specifying the dates on which they will take place and the lots included 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 interrupt the auction or listings.
 
 
4. Participation and submission of offers.
4.1 Listing  
 
User participation in the listing process will be governed by the Specific Terms and 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 individual when registering on the website and for the auctions will be those to which any award will be made and in whose name the property will be registered. All required payments, both before and after the sale, must be made by the registered individuals. Any powers of attorney or authorizations 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 specified in the specific terms and conditions of sale.
 
In addition to paying the security deposit, to be authorized 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 property regime, the spouse's corresponding details must also be provided, together with a copy of their identity document (this document is not required for authorization but will be required if award)
 
-       IF COMPANIES or ENTITIES:
 
-       Certificate from the Chamber of Commerce, Industry, Crafts and Agriculture (C.C.I.A.A.) showing the incorporation of the company and the powers granted to 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
-       Where the company is not Italian, any translation of the company registration certificate must be duly legalized
 
 
-       Special power of attorney received or authenticated by a notary, in the event of participation through a representative
 
Where provided for by specific terms, additional documents will be required and added to those mentioned 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 the required supporting documentation, 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.
 
The Agent will formalize this offer directly on the platform by placing an online bid on behalf of the first user to complete the procedure described above.
           
If several participants 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, provisional successful bidder shall be the person who, first in chronological order:
 
            - has completed the aforementioned procedure.
 
The Agent shall inform all bidders, by any means, whether or not they are the best bidders when the above-mentioned irrevocable purchase offer is formalized. 


5.2 Submission of bids to increase the starting price.
 
Placing higher bids
 
The offer formalized by the first bidder may be outbid 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, where several participants place higher bids on 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) being sold, users will be invited to increase the price indicated in the auction (and therefore to place at least one higher bid) as follows:
 
 
 
5.2.1 Static bid 
 
A "static bid" is a bid at the price published online plus a predetermined minimum increment.
 
 
5.2.2 Maximum bid (Proxy Bid):
 
A "proxy bid" is a bid for a maximum amount. It represents the maximum amount that the user is willing to offer for each lot. Each bidder enters their proxy bid manually.
 
Until the maximum bid placed by a user is exceeded by a higher offer, that user will remain the best bidder and, therefore, the provisional successful bidder.
 
The current price will automatically adjust 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 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 extension will continue for every winning bid received during the 5-minute extra-time period, until the time available expires.
 
In the event of extra time, 5 minutes must elapse without any additional bid being recorded after the last bid received before the auction can be considered definitively closed.
 
Automatic higher bids placed in response to 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 phase, the best bidders will be sent confirmation of provisional award pursuant to Article 107 of the Bankruptcy Law, and will be required to make payment by the deadline specified in the specific terms of sale.
 
The provisional award will be made to the bidder who submitted the highest offer for each lot or, if no further bids are placed, to the bidder recognized as the first, in chronological order, to have completed the procedure for making an irrevocable purchase offer described in section 5.1.
 
In the event of an award, the full sale price must be paid by bank transfer to an account in the name of the proceedings, within the deadlines set out in the specific terms, failing which the successful bidder will forfeit the award and the security deposit.
 
The sale deed will be executed by notarial deed in accordance with the procedures established by the Principal (described in section 11, Transfer of ownership).
 
Submitted offers are binding and constitute a formal purchase commitment. If the successful bidder fails to pay the consideration within the deadlines set out in the specific terms of sale, or if the award is revoked, the sale shall be automatically rescinded and the security deposit shall be retained in accordance with the procedures set out in the "Security deposit" section. In that case, the award will be made in succession to the next best bidder, who must have 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 procedure, may exercise the option provided for in Article 107, fourth paragraph, of the Bankruptcy Law, and suspend the sale upon receiving an irrevocable purchase offer that improves on the existing offer by an amount of no less than ten percent of the offered price.
 
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 give notice to 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 Supervising 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 entries relating to rights of pre-emption, registrations of attachments and precautionary seizures, and any other encumbrances on the real estate offered for sale, will be cancelled pursuant to Article 108 of the Bankruptcy Law once the sale has been completed and the price has been paid in full. Unless otherwise provided in the specific terms of sale, all formalities required for cancellation shall be carried out at the successful bidder’s expense.
 
7. Buyer’ s Premium 
The fee due to the Agent shall be payable 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 set out in the specific terms of sale.
 
 
8. Charges 
 
Notarial fees, statutory taxes, and all expenses relating to the sale, whether tax-related or otherwise (except those listed above in section 6), shall be payable by the buyer. The Principal shall provide information regarding the exact amount of the charges and a proper breakdown thereof as soon as possible.
 
In this regard, the Principal shall take into account the tax treatment of the transaction and any tax relief the buyer intends to claim. The Principal shall therefore be required to verify whether the transaction is subject to VAT or registration tax and, where the relevant conditions are met, to specify whether it intends to apply the reverse charge mechanism.
 
At the end of the sale, the Agent shall 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 the Principal can calculate the exact amount of tax payable by the buyer.
 
The successful bidder shall pay the charges within the deadlines set out in the specific terms of sale.
 
 
 
9. Security deposit
 
 
Participation in the auction is subject to payment of a mandatory security deposit, as specified in the specific terms of sale.
 
Before being authorized to participate in the auction, participants must pay the amount stated above by bank transfer or, where provided for in the specific terms, by credit card through the platform. Payments must be made as set out in the specific terms 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 do not win any assets at the auction, the security deposit will be refunded within 20 business days of the auction closing, without interest.
If one or more lots are awarded, the security deposit will 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 such cases, at the Principal’s discretion, the security deposit may be retained to cover any costs attributable to the Proceedings or other services provided by the Agent.
If the security deposit is paid by credit card, it will be credited to the Agent’s bank account, and the Agent will refund the amount withheld in this way in accordance with the procedures described above.
If the buyer wins at least one lot at auction, the Agent may, in agreement with the Principal, deduct the security deposit from the total amount payable by the buyer.
If, after paying the security deposit, the bidder fails to complete the purchase within the deadlines set out in the specific terms of sale, including payment of the hammer price, the Buyer’s Premium and any additional charges, the sale shall be automatically rescinded 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 terms of the auction, which set out the deadlines for payment of both the lots won and the Buyer’s Premium due, as well as any additional charges, and the relevant compensation clauses in the event of failure to comply with those terms.
All payments must be made in full exclusively by bank transfer, unless otherwise specified in the specific terms.  The bank details will be provided when the user receives confirmation of the provisional award.
 
If the amounts due are not paid within the established deadlines, the sale shall be automatically rescinded, in agreement with the Principal, and the security deposit shall be retained as liquidated damages, resulting in the award being revoked.
 
 
 
 
11. Transfer of ownership
 
Ownership shall be transferred only after full payment of the hammer price and expenses, as provided for in the specific terms of sale, by means of a notarial deed in accordance with the procedures established by the Principal, unless otherwise specified in the specific terms of sale.
In judicial sales, the Principal shall also notify the Delegated Judge so that the Judge may cancel any prejudicial registrations affecting 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 terms of sale have passed, if the transfer of ownership has not been completed, the sale shall be automatically 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 the lots listed for 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 Terms of Use of the website www.gobidreal.it shall apply.
 
The registered user acknowledges the possible objective and subjective issues arising from the use of 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 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 provided for in these general and specific terms, reference is made to the provisions of the Italian Code of Civil Procedure and the Bankruptcy Law.
The sale of real estate is a forced sale (Art. 2919 of the Italian Civil Code). It is conducted on the basis that the assets have been inspected and accepted in their actual and legal condition. In a forced sale, no warranty is provided against defects in the asset. The sale may not be challenged on the grounds of damage. (Art. 2922 of the Italian Civil Code).
 
The Agent shall have no liability whatsoever with regard to the existence of third-party rights over assets included in the sale (Art. 2920 of the Italian Civil Code).
           
The real estate is sold in its actual and legal condition, together with all appurtenances, additions, 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 CURRENT REGULATIONS
For further information concerning any unauthorized works, violations, encumbrances or non-compliance with current regulations affecting the lots for sale, please refer to the attached appraisal.
 
Lots are sold as inspected and accepted in their current condition.
Viewing the auction lots is strongly recommended. GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal disclaim all liability for any errors, omissions or inaccuracies in photographs, descriptions or any other details provided in the auction listings or advertisements. For this reason, viewing the lots is strongly recommended in order to verify the actual condition of the auctioned goods.
 
No warranty is given by GOBID INTERNATIONAL AUCTION GROUP S.r.l. or the Principal
 
By accepting these terms, the buyer releases GOBID INTERNATIONAL AUCTION GROUP S.r.l. and the Principal from any warranty or claims by third parties.


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