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 who 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".
•    Offer collection: procedure for collecting irrevocable purchase offers through the www.gobidreal.it platform, also identified by the reference "Listing".
•    Auction: online procedure for the sale of Assets through the www.gobidreal.it platform, also referred to as a "bidding process".
•    Lot: an Asset or group of Assets available for sale in an individual sale procedure.
•    Sale procedure: competitive procedure aimed at maximizing the sale price of the asset, conducted electronically and managed through the www.gobidreal.it portal, in accordance with the rules and terms set out in the Sale Conditions applicable to the procedure. Please note that the term "Sale procedure" or "sale", when used in these conditions, is merely descriptive and conventional and may refer, depending on the provisions in the descriptive sheet for 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, rental, etc.). In any event, for the purposes of legally classifying the relationship and the effects arising from the procedure, only the information expressly stated in the descriptive sheet for the individual lot shall apply and shall prevail over these definitions in the event of any discrepancy.
•    User: a User registered on www.gobidreal.it, also referred to as a Bidder.
•    Registered User: a User registered on www.gobidreal.it, also referred to as a Bidder.
•    "Make an offer": a function that allows the Registered User to submit an offer in the Offer Collection.
•    Bidder Number: identification number of the Registered User.
•    General Conditions: these terms and conditions.
•    Specific Conditions: specific terms and conditions applicable to the procedure, available in the Listing/Auction details.
•    Sale Notice: terms and conditions applicable to the procedure.
•    Sale Conditions: a general term referring collectively to the sale conditions set out in the General Conditions, the Specific Conditions and the Sale Notice, if any.
•    Security deposit: amount to be paid in order to submit an offer and participate in the procedure, where required.
•    Starting Price: starting price set for each Lot.
•    Minimum Offer: minimum amount that may be offered for the offer to be valid, in all cases subject to the Seller's approval.
•    Reserve Price: minimum price which, if reached, authorizes the award of the Lot, unless otherwise indicated in the conditions applicable to the procedure.
•    Current Price: current price of the Lot.
•    Single 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 to be added to the Current Price in order to increase the bid during the bidding process.
•    Extra Time: extension period added to the duration of the Auction to allow further bids to be submitted during the bidding process.
•    Sale Price: Lot award amount determined when the procedure is deemed concluded.
•    Award: conclusion of the procedure with the Lot awarded to the highest bidder. 
•    Award Confirmation: communication sent by Gobid Group to the party identified as the highest bidder at the end of the procedure, summarizing the award price and the Auction commissions (Buyer's Premium) payable.
•    Successful Bidder: the party to whom the Lot is awarded as the highest Bidder.
•    Sale Price/Award Price: the Lot award amount as determined at the end of the procedure.
•    Buyer's Premium: commissions due to GOBID GROUP for managing the procedure, payable by the Successful Bidder, calculated as a percentage of the award price, plus VAT. 

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

3.    Main Conditions of the procedure 
Through the www.gobidreal.it platform, Gobid Group promotes the sale of Assets based exclusively on the information provided by the Seller, without verification or reworking.
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 considered the Custodian of, the Assets subject to this procedure, which are owned by the Seller. 
•    is not liable for any defects, faults or total or partial lack of quality in the Assets offered for sale. 
All Assets are sold in the condition in which they are found 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 an offer, 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 an offer.
By completing the offer submission process, as described below, the User submits a binding offer; it will therefore not be possible to amend or withdraw the offer submitted. All Users are advised to check their offer before confirming it.

4.    Inspection of the Assets
Interested parties may inspect the assets:
•    online, using the available documentation;
•    in person, by appointment requested 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 are not guaranteed during the 7 days preceding the deadline for submitting offers; requests for inspections should therefore be made well in advance.
Where necessary, interested parties must provide any documentation required in order to carry out an inspection.
By requesting an inspection, each interested party acknowledges that the Assets will be inspected under their sole responsibility, expressly releasing Gobid Group and/or the Seller from liability; Gobid Group and the Seller accept no liability for any personal injury and/or damage to property caused during an inspection. Each interested party is therefore responsible for carrying out the inspection with the appropriate precautions, depending on the nature of the Asset being inspected. 

5.    Conduct of the sale and participation procedures
The sale will take place on the www.gobidreal.it platform, in accordance with the terms and conditions set out in the General and Specific Terms and Conditions of Sale applicable to this sale.
The sale will take place in two stages: 
•    STAGE 1 – Collection of Irrevocable Purchase Offers 
•    STAGE 2 – Online Auction (if applicable).
The description provided in the Auction Listing/Advertisement forms an integral part of these Terms and Conditions of Sale.

STAGE 1 – COLLECTION OF IRREVOCABLE PURCHASE OFFERS
Offers will be collected during the period specified in the Listing; during this period, interested parties may register for the Listing and submit their offers as described below.
To submit an offer, each interested party must access the listing page and click the "MAKE AN OFFER" button. 
The User must then log in to/register on the platform using their own credentials, carefully review the General and Specific Terms and Conditions of Sale applicable to this sale, and accept them. 
Once this step is complete, the User may enter the amount they wish to offer for the purchase of the Lot and confirm the amount entered.
After completing the guided process, in order to formalise their offer, the Bidder must download the offer form and, if necessary, fill in any blank fields. 
Once completed and signed, the form must be sent from the email address used by the User to register on the portal to the certified email address [email protected].
In addition to the offer form, the Bidder must also send:
- a copy of the payment receipt for the deposit paid; 
- the required documentation, as specified in the Specific Terms and Conditions. 
To be considered valid, irrevocable purchase offers must be accompanied by payment of the required security deposit. Such payment shall itself constitute a formal commitment to purchase by the signatory of each offer. The required documentation, as specified in the Specific Terms and Conditions, must also be provided.
The security deposit must be paid in the amount specified in the Specific Terms and Conditions by bank transfer to the bank account indicated therein and shown on the offer form.
Please note: the transfer reference must be the one generated by the system when submitting the irrevocable offer and shown on the offer form. 
The User must pay the security deposit sufficiently in advance of the deadline for submitting offers.
If participants are not awarded any Asset, unless otherwise specified in the Specific Terms and Conditions, the deposit will be refunded without interest within 20 business days of the final deadline of the Sale Procedure.
If one or more lots are awarded, the security deposit, unless otherwise specified in the Specific Terms and Conditions, will be refunded 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 withheld as a penalty if the payment deadlines are not met for reasons attributable to the Successful Bidder.
An offer is invalid if it is lower than the price applicable to the sale (the base price/minimum offer, where applicable), if the submission process is completed after the specified deadline, or if the Bidder fails to pay the security deposit within the prescribed time limits.
The offer is irrevocable until the award process is complete.
Once the offer collection period has ended, the irrevocable purchase offers will be assessed to determine whether they are admissible. 
The Seller and/or Gobid Group reserve the right, at their sole discretion, to accept or reject the irrevocable purchase offers submitted by bidders. Participation in the sale does not, therefore, give rise to any right or legitimate claim to have the Asset transferred to the Bidder. Accordingly, if an offer is not accepted, the security deposit paid will be made available to the Bidder again. 
By participating in the sale, the Bidder acknowledges, as of the date hereof, that they are aware of the above and waives the right to bring any action against the Seller and/or Gobid Group seeking potential compensation for damages resulting from the Lot not being awarded to them. 
If an offer is rejected, the bidders will receive an email from Gobid Group advising them that the offer is inadmissible.
If only one offer is admitted at the end of Stage 1 – Collection of Irrevocable Purchase Offers, the Asset may be awarded to the sole Bidder without proceeding to Stage 2 – Online Auction. 
If there are multiple valid offers, the highest offer received will be used as the starting bid for a competitive sale to be held online on the www.gobidreal.it platform (STAGE 2).

PHASE 2 – ONLINE AUCTION
Unless otherwise indicated in the Specific Conditions of Sale, only parties who submitted a valid bid during PHASE 1 – Bid Collection, as described above, will be admitted to participate.
The Online Auction published on the website www.gobidreal.it will last at least 1 day. 
The opening and closing dates and times of Phase 2 – Online Auction will be communicated to all bidders by Gobid Group. 
The highest bid collected at the end of PHASE 1 – Bid Collection will be formalized by Gobid Group, in the name and on behalf of the Bidder, by placing an online bid on the platform www.gobidreal.it for an amount equal to the value of the aforementioned bid, while the other bidders will be enabled to participate in PHASE 2 – Online Auction and invited to place a higher bid on the platform www.gobidreal.it, in accordance with the procedures published online on the web page dedicated to the Auction.  
If multiple bids are received for the same Lot, priority will be given to the highest bid received or, in the case of bids for the same amount, to the first bid received in chronological order (in this case, priority will be given to the first bidder to make the required security deposit, which will then be credited to the bank account indicated in the Specific Conditions of Sale, following submission of the aforementioned bid). 
Gobid Group will inform all bidders whether or not they are the highest bidders when the aforementioned irrevocable purchase bid is formalized.
If bids are placed in the final 5 minutes before the deadline, the auction will automatically be extended by 5 (five) minutes from the last bid received, giving all bidders the opportunity to place further bids (extra time).
Please note that Gobid Group may at any time reserve the right to suspend the bidding procedure, for any reason and/or cause, without bidders and/or any third party being entitled to raise objections.
The portal www.gobidreal.it will ensure that each Bidder's personal data is not visible to other bidders until the online sale process has definitively closed.

Types of bids
The User may choose to submit a bid as a "static bid" or a "dynamic bid" (proxy bid), as described below:
•    A static bid is considered a fixed-price bid, equal to the amount entered by the User in accordance with the Conditions applicable to this auction.
•    A maximum dynamic bid (proxy bid) is considered a dynamic-price bid for the Lot that is not visible to other users.
When a registered User enters a static bid, it may be outbid by another user's bid. At this point, the User must enter another static bid to win the Lot.
If a registered User enters a maximum bid (proxy bid), it will remain valid until it is exceeded by a bid from another user that is higher than the maximum bid. Bids will be placed automatically, based on the specified minimum increments, to outbid other bids submitted, up to the amount entered.
Bids 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 within the 5 minutes preceding the auction's close, 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 placed in response to a maximum bid (proxy bid) will also be considered winning bids.

6.    Award of the auction 
At the end of the auction, the lot-award assessment phase will begin and will last a maximum of 10 working days, unless otherwise provided in the Specific Conditions.
If there is only one bid at the end of PHASE 1 – Bid Collection, the Lot will be awarded to the sole Bidder.
At the end of Phase 2 – Online Auction, the Lot will be awarded to the person who submitted the highest valid bid by the end of the auction or any extension period.
If multiple bids were collected at the end of PHASE 1 – Bid Collection and no higher bids are placed during Phase 2 – Online Auction, the Lot will be awarded to the User on whose behalf Gobid Group formalized the irrevocable purchase bid by placing an online bid, as specified above.
The period within which the successful bidder must pay the winning bid amount will begin on the date the Lot is awarded. 
Any subsequent higher bids submitted after the auction has ended will not be considered.
Participants who are not awarded the Lot will have their security deposit refunded by bank transfer, without interest, within 20 working days of the auction deadline.
In the event of default, the successful bidder will be declared to have forfeited the award, the security deposit will be retained as a compensatory penalty, and the relevant Lot may be offered for sale again, subject to agreement with the Owner. 

7.    Payment of the price and transfer of ownership
The deadlines for paying for the Lot awarded and the expenses connected with the sale will begin upon confirmation of the award. 
Payment must be made within the time limits and in accordance with the procedures set out 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 auction 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. 
Accordingly, the sale will transfer ownership to the successful bidder only upon completion of the aforementioned notarial deed.
The security deposit may be retained to cover any expenses connected with the sale, including the Buyer’s Premium due, if unpaid by the successful bidder, without prejudice to the right to claim any outstanding balance.
It is understood that ownership will be transferred only after full payment of the winning bid amount, the expenses connected with the sale, and the Auction Fees (Buyer’s Premium) due to the auction house Gobid Group for managing the online auction.
The buyer will be 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 encumbrances exist, they will be removed by the Seller at the Seller's expense, either 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 auction constitutes a binding commitment by the User to purchase. Therefore, if payment is not made by the established deadline for reasons attributable to the User, the award will be declared forfeited, the sale will be terminated, and the security deposit paid will be retained as a compensatory penalty.

8.    Auction Fees (Buyer’s Premium)
Irrevocable purchase offers collected during Phase 1 – Offer Collection, as well as any bids placed during Phase 2 – Online Auction, will be subject to auction fees (Buyer’s Premium) for the online sale management service. The successful bidder shall pay the Buyer’s Premium due to the auction house Gobid Group, calculated as a percentage of the hammer price, plus VAT. 
For the applicable percentage, please refer to the Specific Sale Terms. 
The right to payment of the Buyer’s Premium arises upon the award of the sale; without prejudice to the provisions in the section "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 remedies provided for by law. 
If the award is revoked for reasons attributable to the successful bidder, they shall in any event be liable to pay the above-mentioned amounts, which, if paid, will therefore be retained by Gobid Group.

9.    Publication
All sale proceedings are published on the website www.gobidreal.it, with details of the dates of the sale proceeding, the Sale Terms, information on the lots available for bidding and details of the sale proceeding. 
The duration of the Sale Proceeding is stated in the Listing/Auction details and in the specific terms and/or the Notice of Sale (if applicable). Unless otherwise specified, the times shown in the specific terms 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 proceeding or the award may in any event be suspended and/or postponed, including due to technical connection issues with the system caused by server or network malfunctions, without giving rise to any claim for damages or compensation by the registered User and/or successful bidder.
All operations carried out by the user on the platform are recorded. The records 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. Registrants declare and acknowledge that the system records constitute full evidence of the relations 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 shall under no circumstances be held liable for any system malfunctions that may in any way prejudice or delay the delivery of communications to the registrant, or for any inability to view and/or use www.gobidreal.it, or any unlawful use of www.gobidreal.it by Users.
GOBID INTERNATIONAL AUCTION GROUP SRL reserves the right to cancel submitted offers if discrepancies are found with the Sale Terms applicable to the sale proceeding in question.
In the event of any disputes concerning the interpretation of the provisions contained in the general and specific terms shown on the platform, which may have been translated into other languages, the Italian version of the text shall prevail.

10.    Warranties
Each Asset is sold by the Seller on an "as seen and approved" basis, in the condition it is in 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 Assets owned by the Seller, based on information provided by the Seller, without processing or verification. For this reason, Gobid Group shall not be liable for any errors, omissions or inaccuracies in the information published online. 
It is also specified that Gobid Group does not own the Assets covered by this sale proceeding, nor is it to be considered their custodian; the Assets are owned by the Seller. 
Gobid Group is therefore not liable for any defects, flaws or total or partial lack of quality in the Assets offered for sale.  
All Assets are sold in the condition they are in at the time of sale ("as seen and approved"), without warranties as to their characteristics or state of preservation. 
For this reason, before submitting an offer, you are strongly advised to inspect the Assets and the documentation made available, and to carry out your own checks, at your own expense, before submitting an offer.
Each participant is responsible for reviewing in advance, in full and carefully, the General and Specific Sale Terms applicable to this sale proceeding and the documentation published online. 
In light of the above, by submitting an offer, the User declares that they are aware that Gobid Group is not liable for any errors, omissions or inaccuracies in the photographs, descriptions, quantities or any other details indicated in the Auction/Listing.