General Terms and Conditions of Service

Object

The following set of conditions has been developed to define the terms governing the provision of service of this platform.

Platform objectives

This platform has been created for commercial purposes, to advertise the sale of furniture or real estate assets, as well as their inherent rights. Transparency, advertising and security are basic pillars of the platform. 

The origin of the assets can be both creditor and private competitions.

Trading on the platform

Access to the platform to be able to trade requires a registration by the interested party in the assets, can be done by clicking on log in -> Do not have an account? create one here. After registration you will be able to access the auction system being a USER-POSTOR of the platform. Users are accounted for the veracity of the information entered in the system.

Registration on the platform implies FULL ACCEPTANCE OF ALL THE CONDITIONS OF THE SAME.

In the case of creditors with special privileges, they must register and operate in the same way as the other bidders, taking into account the special conditions arising from their special situation.

In case of non-resident users in Spain, a bank guarantee may be required.

Security

The platform records interactions on the web, as well as offers that are offered correctly by users of the same. This registration is fully transparent to the insolvency administration, who will have a complete list of bids made during the auction process, without prejudice to the GDPR.

Fees and deposits

For the intermediation services in the buying and selling procedures of the assets of this platform the user ACCEPTS and is OBLIGED to pay a fee. The ad description will describe the percentage type of app. Only the user who is a successful tenderer shall be obliged to meet such fees.

The commission amount will result from the product of the percentage rate for the final award price and shall NOT be included in the sale price of the good.

Payment of the commission will be mandatory within seven days of the award of the good. In the event that payment of this fee is not completed, the platform reserves the right to:

(a) unilaterally terminate the award, losing all rights in the items awarded either by title of ownership, possession or any other similar right, including deposits made automatically returning to the ownership of the seller, without the successful tenderer being able to claim from the seller or the platform for this reason. Thus, if a payment has been made on account, deposit, signal or payment of any kind by the successful tenderer and the latter has not proceeded to the payment of the rest within the stipulated period, both in case of auction and private sale, the platform / seller will be left with the amount received as compensation for the damages produced, further running the successful tenderer who has not completed the purchase process with all the expenses that are incurred in such circumstances. Likewise, if no payment has been made on account, deposit, signal or payment of any kind by the successful tenderer, the platform may claim as compensation the amount of the commission that it should have received and / or any damages that may occur.

(b) compel the performance of the award in the amount and form stipulated, plus all expenses incurred for that reason either directly or indirectly and those costs it causes to third parties related to the auction. 

In the case of certain assets that require deposit in order to tender, the deposit will be taken as part of the payment of fees if the good is awarded. Otherwise, the deposit will be refunded.

If a deposit is required in order to participate, the platform may cancel the bids of users who have not constituted the security deposit.

Auction system

The auction system will be a classic upward bidding system. An exit price, a minimum sales price, and an auction duration will be defined. Each auction will have a bid tranche defined to specify the minimum increase between bids.

A self-bid system is available, so the system will automatically bid on the user to the maximum defined by the user. If another user places a higher auto-bid, the system will stop bidding when there is a higher self-bid.

The platform reserves the right to:

· Change, cancel or withdraw any auction prior to the completion of the auction at the request of the insolvency administration or the seller.

· Suspend the auction if you receive an offer for a set of assets, in a justified manner.

· Stop the auction to demand the deposit.

· Cancel the auction if it does not reach the reserve price.

· Block those bids to bidders who in the past have not met the conditions of participation of the platform, not allowing their access /registration in the future on the platform, without prejudice to the responsibilities that may be incurred.

The bidding system will be regulated by the platform, and may refuse to accept certain offers if it is deemed that the conditions of sale cannot be met.

Notifications

The platform will email the user the registration of a bid as well as whether it has been exceeded by another bid. If you win, you will also be notified by email.

In any case, these notifications are informative and non-binding, the user will be responsible for verifying the status of their bids at auctions prior to the completion of the auction.

Award

The user-bidder who is the successful recipient of a good, and whose offer is accepted by the insolvency administration, will receive an email informing him of the award. In the event that the data provided by the user is incorrect or incomplete, the insolvency administrator may declare the offer void even if it has been a winner. The successful tenderer will receive a breakdown of the amounts to be paid for the published good as well as the management costs that occur.

In the case of insolvency assets, it will be the insolvency administrator who proposes the award system and from the platform the intermediation management will continue to the perfection of the transmission.

The announcements of the next auction will allow to collect pre-auction offers online, which will be transmitted to the seller or insolvency administration in order to be analyzed to, if applicable, award the good for the proposed offer. Under no circumstances will an offer in an upcoming auction ad be binding on sale.

For private sales or direct award, the offer will be transmitted for immediate processing, reserving the right to decline the same by the seller or insolvency administration. Under no circumstances shall an offer in a private sales or direct award notice be binding on sale.

Last-minute bids

To ensure equal opportunity if bids are received in the last 15 minutes the auction time will be extended by an additional 15 minutes as a general rule, and this behavior may change in some auctions, in any case it will be indicated in the description of the good.

Withdrawal of goods

The successful tenderer must withdraw the acquired goods within a maximum period of 15 days, and may change this behavior in some auctions, in any case it will be indicated in the description of the good.

Guarantee of status and visits

The user will have all the information possible on the platform, without prejudice to the error, inaccuracy or falsity in their data or description for which he is not responsible. The legal texts of the different creditor contests as well as any other relating to the assets included in this website lack legal and official content, having only informative and informative content. The platform declines any responsibility for its inaccuracy, with tenderers referring to the legal texts contained in the different courts, so it is not responsible for any damages that may be caused as a result of inaccuracies or errors therein. 

According to the above, all goods are sold as a true body, and therefore, as and where, in the physical and legal state in which they are located, expressly waiving the buyer to any claim for hidden defects, with all the faults and imperfections and errors of description, the photos that appear in the list of the platform that are only intended to assist in the identification of the lots or goods subject to Sale. The user must check the status of all the goods before making any bid or offer, since the realization of the same constitutes the expression of their full knowledge of the status of the same.

All goods will have a calendar of visits, except in cases that are not possible and that will be indicated in the description of the good, in order to facilitate the correct and fair valuation by the user of the goods that are of interest to him.

Given the scope of sale of the assets, they will not be considered consumer goods and the General Law on consumer protection does not apply.

Direct sale

In the case of goods classified as direct sale, offers of purchase for the minimum value of the good will be accepted, and an offer may be accepted before the end of the bidding period or once the same has elapsed, to the best offer.

Disassembly and loading costs

The successful tenderer will bear all the costs of disassembly and loading in all cases, being able to change this behavior in some auctions, in any case it will be indicated in the description of the good.

In the case of lots that are found to cause damage to the seller's premises, the platform may require a guarantee from the successful tenderer for damages that may occur or to cancel the sale if it cannot guarantee safe disassembly.

Finishing assignment

The transfer of the auction by the successful tenderer is not allowed, and the interested party must register on the platform and not through a third party. In the event that the Settlement Plan permits the transfer of the good to a third party other than the successful tenderer, the third party shall assume in full all the obligations of the successful tenderer (better bidder).