TERMS AND CONDITIONS OF AUCTION 

1. GENERAL INFORMATION

Terms and Conditions of Auction determine a procedure of selling vehicles at ascending price auction. The present Terms and Conditions are equal to all auction participants.
A vehicle is any item specified in the section “Auction” which according to its construction is meant for driving on roads or water (cars, trailers, semi-trailers, tractor machines, recreational vehicles, quadricycles, motorcycles, snowmobiles, water motorcycles, boats etc.) under the present Terms and Conditions. Each vehicle has an auction lot number (Lot No.).
All vehicles are set for an auction and sold at auction only with the permission of vehicle owners. The vehicles have not been stolen, there are no disagreements regarding them, they are not burdened with debts or any real or mandatory rights and they are not in foreclosure.

2. PARTICIPATION IN THE AUCTION 

For Car Trading Company 

Any VAT registered Car Trading Company and their representative has familiarised and agrees with the terms of the auction which is confirmed by signing these terms and conditions, and the service agreement with WebAutoBid.eu, can participate in the auction. Any legal entity must provide a document on the right of a representative to act on behalf of a specific company prior signing the agreement to WebAutoBid.eu representative.

All cars are sold without VAT to a VAT registered legal entity.

For individuals or legal entities

Any individual or legal entity, who has familiarised and agrees with Terms and Conditions of Auction by signing the present Terms and Conditions, and has signed a service agreement with WebAutoBid.eu, and has paid a security deposit of 500 Euro, can participate in the auction. Any legal entity must provide a document on the right of a representative to act on behalf of a specific company prior signing the agreement to WebAutoBid.eu representative. If the auction participant no longer wishes to participate in the auction further, the auction returns the security deposit, within two banking days from the moment of notification.

All cars are sold without VAT to a VAT registered legal entity.

3. TYPES OF AUCTION

3.1 .  Standard auction
It is an open auction where a participant has an opportunity to participate in the auction and bid against other auction participants from all over the world. It starts from the moment the vehicle is published at the auction platform WebAutoBid.eu and closes on the auction day and time specified for a particular vehicle.
The vehicles set for an auction have a certain initial price. The final price of the vehicle is set during a bid process within this auction. 
If, at the end of this auction, you have placed the highest bid for a vehicle, you are a winning bidder. 
Winning in the auction does not mean that a vehicle will be sold you. The owner of the vehicle has to make a decision within 3 working days after end of the auction, whether to sell you the vehicle at winning price or not. A participant who places the highest bid gains winning bidder status. In case a bid between two or more auction participants is equal, a winning bidder is the participant who has first placed a bid.
WebAutoBid.eu sends the auction results to all auction participants via e-mail.

3.2.  Buy now
It is an open auction where a participant has an opportunity to participate in the auction and bid against other auction participants from all over the world. It starts from the moment the vehicle is published at the auction platform WebAutoBid.eu  and closes on the auction day and time specified for a particular vehicle however there is also an opportunity to buy a particular vehicle now at specified price (Buy now).
The vehicles set for an auction have certain initial price and price for purchasing now. The final price of the vehicle is set during bid process within this auction. 
If, at the end of this auction, you have placed the highest bid for a vehicle, you are a winning bidder. 
Winning in the auction does not mean that a vehicle will be sold you. The owner of the vehicle has to make a decision within 3 working days after end of the auction, whether to sell you the vehicle at winning price or not. 
If you bid the price listed for a specific vehicle (Buy Now), you have 100% right to purchase that vehicle immediately at the listed price.
WebAutoBid.eu sends the auction results to all auction participants via e-mail.

3.3.   Sealed bid auction
It is a closed auction without specifying a vehicle price. During this auction a participant has an opportunity to place his highest bid without seeing the bid of other participants.
At the end of the auction the results of all auction participants are summarized. A winner is a participant who has placed the highest bid. If 2 or more participants place the highest bid within the sealed bid auction, the winner is always a person who has first placed this bid. Similarly to standard auction, the highest bid is offered to the owner of the vehicle. The owner of the vehicle has to make a decision within 3 working days after close of the auction, whether to sell you the car at winning price or not. A participant who places the highest bid gains winning bidder status. In case a bid between two or more auction participants is equal, a winning bidder is the participant who has first placed a bid.
WebAutoBid.eu sends the auction results to all auction participants via e-mail.

3.4.   Target auction

4. AUCTION SERVICE

5. DELIVERY OF A VEHICLE

The vehicle is delivered after full payment of the invoice, within two to four weeks depending on location of the vehicle. However, in rare instances, it may take up to eight weeks if the vehicle is located very far from the delivery destination, if there is a holiday in the country where it is located, or if the vehicle's parking area is unavailable due to vacation. For all vehicles at the auction applies that the transportation costs are approximate.  The transportation costs depend on distance from location of the vehicle and on vehicle dimensions. Please contact WebAutoBid.eu representative for precise transportation quote and delivery terms of a particular vehicle.

6. PAYMENT FOR AN AUCTION VEHICLE

Once the owner of the vehicle accepts the highest bid, WebAutoBid.eu issue an invoice to the winner that reflects the total amount of all costs associated with the specific vehicle listed on the website. A winning bidder shall pay this invoice within 3 working days upon invoice receipt. The winning bidder gains the ownership rights on purchased vehicle in the auction as from full payment of the invoice.
If the auction participant places the highest bid and wins the auction, however, after receipt of the invoice has not paid it within 3 working days, or they refuse to buy a vehicle won in the auction, they shall pay a fine of 10% of vehicle’s winning price to WebAutoBid.eu.

7. VEHICLE TECHNICAL STATE AND WARRANTY.

WebAutoBid.eu guarantees that an auction vehicle complies with that condition and description specified on the website WebAutoBid.eu. Please take into consideration that all vehicles set for an auction are used/second-hand vehicles and therefore complaints are not accepted on small and insignificant scuffing on vehicle body or passenger compartment, small and insignificant stone impact on vehicle body, windshield, headlights, fog headlights that occurred during vehicle exploitation at specific mileage.  Complaints are not accepted on wear and tear of vehicle technical parts at specific mileage. Complaints on real defects discovered after receiving the vehicle, which were not specified on the website WebAutoBid.eu are accepted within 48 hours (working days) from the moment of receipt of the vehicle. 7.1 Claim policy