1. General Information
The Hanoverian Society, Lindhooper Straße 92, D-27283 Verden, is the organizer of the auction and under the conduction of the auctioneer, it sells the horses described in the catalogue in its own name and for the account of the vendor (commission business).

2. The Auction
The auction is a public event, led by a public sworn and appointed auctioneer. Tickets are available for everybody (as long as stocks last).
During the auction, the foals put up for auction will be presented with their dams. They will be offered for sale in Euro. Minimum auction sales price for foals will be Euro 2,500. Bids of at least Euro 200 will be accepted only.
Should any doubts arise as to the validity of the knock-down price, they have to be claimed at once and the offer for sale can be taken up again. This is also permitted if the purchase note has already been signed, however, latest if the last horse of the
auction was knocked-down. Only the bidders, the auctioneer or the organizer are allowed to raise an objection as to the validity of the knock-down price. A commission, consisting of the manager of the Hanoverian Society,  the auction manager and the auctioneer will decide on all objections. An accepted bid shall only be cancelled if the commission decides unanimously.
Provided the buyer does not sign the purchase note or if he makes know during the auction that he will not take the foal, the auctioneer shall be entitled to decide to put up the foal for auction again. The first buyer shall be liable for possible reductions in price.

 3. Settlement and Payment
3.1. For its activity as commission agent, the Hanoverian Society raises  a commission fee. The amount to be paid depends on the knock-down price. Additional handling fees and taxes will also be charged. Payment is due immediately upon acceptance of the bid. Payment has to be effected in the auctioneer’s office, either in cash or by means of a bank confirmed cheque. Cheque collection fees and interests will be at buyer’s charge. Foreign customers will be charged additional fees for the services of the official vet.
3.2. The account will be rendered as follows:

	Knock-down price
+	6 % commission
=	Net amount
+	VAT, acc. to § 12 [2] of the German turnover law = (7 %)
=	settled price
+	1 % insurance (plus insurance tax)
=	final balance amount

3.3. The Hanoverian Society will be the payee and will be entitled and commissioned to pursue payment of the knock-down price and any additional claims. The
Hanoverian Society is alternatively entitled to assign claims from the commission business to the consignor with discharging effect.
3.4. The Hanoverian Society insures all foals before the auction. The previous
insurance premium will be settled with the auction invoice.
3.5. According to § 449 German Civil Code, the horses remain the property of the sellers until full payment is effected. The Hanoverian Society is entitled to accept payment and to sue, in case of non-payment, the purchaser for the payment of the final balance amount. 

4. Characteristics of the Foals
4.1. The following features describe the necessary characteristics legally required for all auction foals. The following characteristics are exclusively subject to buyer’s legal rights: pedigree, sex, age, colour and – if available special accomplishments of ancestors. Photos and/or short statements published in the auction brochure are only based on first impressions of the foal at the date of brochure print. The Hanoverian Society makes no assurance or evaluation in the sense of a guarantee of special qualities.
4.2. Current health problems or considerable changes of descriptions will be published in a final report called “Latest News” or will be announced by the auctioneer.
4.3. Additional features are not subject of this contract. The foals will be sold as being inspected, excluding any liability for material defects.

5. Liability of the Hanoverian Society
The Hanoverian Society acts as commission agent and assumes the liability for the features mentioned under paragraph 4 in accordance with the legal regulations, but with the following restrictions:
5.1. Supplementary performances as claim for subsequent fulfilment are prohibited. Amendments are restricted to the report of the Veterinarian University Hanover, stating that the healing of a disease is not to be expected within a period of six months of
treatment. This report will be binding for both parties.
5.2. Claims for reduction are prohibited.
5.3. Withdrawal from the contract: If – at the time of transition of liability – the foal’s typical characteristics, as mentioned in the contract, are completely different from the ones it actually has, the Hanoverian Society will be liable (on behalf of the consignee) and has to accept a return of the foal and repayment of the auction sales price.
5.4. All claims for compensation will finally be restricted to the following claims: transport of the foal from the auction premises to the buyer’s stable (within Germany only), usual boarding and feeding costs, veterinary examinations, costs for the farrier and possible costs for necessary veterinarian treatments.
5.5. All claims for faults have to be addressed to the Hanoverian Society which will act as commission agent and which will enforce all claims for the consignor.
5.6. All claims for damages are limited to a period of time of two years after transfer of risk for customers who are end users according to § 13 German Civil Code.
If the customer is no end user as defined by law, all claims for damages will be limited to a period of time of eight weeks after transfer of risk.
5.7. The Hanoverian Society and the exhibitor will not be liable for any other
characteristics than the ones mentioned in this contract. In this respect, the foals are bought as being inspected, excluding any liability for material defects. No liability will be assumed for the foal’s state of health. The Hanoverian Society will neither be liable for the diagnostic report and evaluations of the independent veterinarians.
5.8. Limitation of liability excludes buyer’s claims for damages, resulting out of an impairment of life, body or health, if the seller is responsible for the breach of duty and the liability for other damages, based on intention or gross negligence of the seller, his legal representative or his vicarious agent.

6. State of Health – no guaranteed constitution
6.1. Apart from determining the basic characteristics, the Hanoverian Society sees to it that all foals offered for sale are examined by local, independent veterinarians prior to the auction. The exact details and the results of these examinations are fixed in a health certificate.
These certificates will be available for all potential customers, their agents or assisting veterinarians for independent notice, analysis and assessment in the office of auction vet Dr. Brunken, Lindhooper Str. 92, D-27293 Verden.
6.2. The results of the veterinarian examination and the corresponding evaluation are at veterinarian’s own responsibility and liability. They are not part of the foals’ characteristics and not part of this contract. Neither the Hanoverian Society nor the exhibitor assumes any liability. The veterinarians are not the vicarious agents of the Hanoverian Society, but independent consultants.

7. Removal and Transition of Liability
7.1. The purchasing agreement for each foal is concluded with the acceptance of bid.
The buyer has to collect the foal latest six months after date of birth at vendor’s domicile. Both should  agree on a fixed date for the handing over. Should the buyer wish so, the exhibitor will be obliged to keep the foal until October 15, 2010 on costs and risk of the purchaser.
7.2. The exhibitor bears the risk of a deterioration of the foal’s health resp. an
accidental decline until the buyer takes the foal. The exhibitor will also bear all upkeep expenses including costs for farrier and veterinarian.

8. Alterations, Governing Law, Place of Jurisdiction and Severability Clause
8.1. The auctioneer and the Hanoverian Society reserve the right to alter the auction schedule.
8.2. German Civil Law in the form of these special conditions of sale will apply for this auction.
8.3. Place of fulfilment and place of jurisdiction will be Verden.
8.4. Should one of the afore mentioned arrangements of part of an arrangement be void or become void, all other clauses shall not be affected at all. The void arrangement shall be replaced by a valid condition that aims to match the commercial
requirements of the void arrangement.
8.5 In case of doubt, the German version of the Conditions of Sale will be valid.