AUCTION CONDITIONS

GENERAL TERMS AND CONDITIONS OF SALE

1. The Studhero.auction online auction is organised by High Jumper sprl, a limited liability company with its registered office at Rue du Centenaire 95, B-4452 Paifve.

2. Participation in this auction implies that these general terms and conditions of sale are explicitly recognised and accepted without any reservation.

3. High Jumper sprl sells horses via its website on its own behalf and on behalf of third parties. High Jumper bvba acts as an auction service. The auction commission acts as a mediator between the seller and the buyer. Buyers must register themselves via the website www.studhero.auction in order to be able to participate in the Studhero Auction.

4. The horses and all lots are sold at auction in the condition they were in at the time of the auction.

5. The sale is carried out in accordance with Belgian law, by auction and allocation to the highest bidder after payment of the settlement amount, increased or not by the applicable VAT rate. The auction is supervised by an auctioneer who will be appointed by High Jumper bvba and who will draw up a report of the allotment.

6. Bids and payments are made in euros. The auction takes place according to the following bidding steps:

- From 10.000 € to 20.000 € per 500 €.

- From 20.000 € to 30.000 € per 1000 €.

- From 30.000 € to 50.000 € per 2.000 €.

- From 50.000 € to 75.000 € per 5.000 €.

- From 100,000 € per 10,000 €.

7. The website will mention as an indication a closing time of the auction for each specific lot. If, however, a bid is made in the last five minutes before the closing time of the sale of a lot, the closing time of the auction sale of that specific lot will automatically be extended by five minutes. The end of this extension will become the new indicative closing time.

8. At the auction, a horse is sold to the highest bidder. The settlement of the sale price by the buyer is calculated as follows: auction price + 10% of the auction price. This percentage is representing the commission due by the buyer. The settlement of the sale price will be increased by the VAT rate that may be applicable and which constitutes the total amount of the settlement. An invoice will send to the buyer on this base : auction price + 10 % + VAT rate that may be applicable. By making a bid, the bidder undertakes to pay the settlement amount, unless a higher bid is subsequently made.

9. The amount of the payment is immediately payable upon adjudication.

10. All responsibility for the horses sold at the auction is immediately transferred to the buyer after the auction. After the auction AND payment, the buyer and seller will make the necessary arrangements for delivery after mutual consultation. A legal relationship is automatically established between the buyer and the seller, it being understood that the seller is liable to the buyer, to the explicit exclusion of the organisation of the auction, for any hidden defects that a horse may have after the auction.

11. Neither the seller nor the buyer can claim any rights on the basis that the auction organisation has selected the horse and, where applicable, has submitted it to a veterinary examination at the latter's request.

12. A - The information provided on the horses is exclusively intended to give an impression of the qualities of the horses, without any claim to be perfectly accurate and without offering any guarantee whatsoever. In order to establish the description of a lot in its catalogue, High Jumper has been exclusively documented by the information provided by the seller or by a vet. High Jumper cannot be held liable for typos and/or errors in the information published in the auction catalogue or on its website and online catalogue.

12. B - Special conditions for Gatoucha van 't Roosakker :

"In order to leave nothing to chance, the buyer has the right to submit this breeding mare to a thorough medical examination concerning her general state of health, before payment and delivery, scheduled for 15/01/2021. If the mare's general state of health or her reproductive capacities are compromised, the purchase will be dissolved free of charge and the buyer will owe nothing".

13. Unless otherwise agreed between buyer and seller after the auction, the horse or the frozen embryo or the semen will be collected at High Jumper at the expense of the buyer. Delivery will only take place after the payment amount, as defined in article 8 of these auction conditions, has been deposited on the bank account of High Jumper sprl. Upon collection of the horse, the form "Proof of delivery" will be filled in and signed by the buyer. The seller is entitled to charge a boarding fee for the horse from 30 days after the end of the auction.

14. Surrogate mare: after weaning, the mare will be returned to Stud Hero at the buyer's expense. A guarantee of 2,500 euros is required for the surrogate mare. The buyer shall pay this guarantee to High Jumper bvba. Once the pregnant mare has been delivered to Stud Hero in good condition, the guarantee will be returned to the buyer. The buyer may possibly choose to purchase the surrogate mare at a price of 2,500 euros + applicable VAT.

15. In case of export of a horse, the buyer will submit valid transport documents within 3 months after the auction, failing which he will have to pay a penalty increased by the applicable VAT rate.

16. In the event of a dispute, only the French text will prevail. The translation of these general auction conditions into another language is purely informative.

17. In the event of a dispute, related to the auction, between the seller and the buyer, the auction commission will endeavour to settle the dispute amicably. If one of the parties considers that no solution has been found, the Court of Liege will have sole jurisdiction. Belgian law is applicable to the relationship between the seller and the buyer.

18. Any dispute in connection with this auction and its consequences will be exclusively governed by Belgian law, to the exclusion of the provisions of the Treaty of Vienna on international purchases/sales. The Commercial Court of Liège, and the Court of First Instance of Liège, shall have sole jurisdiction to settle any dispute.

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