Hong Kong International Sale 2004
 

CONDITIONS OF SALE

1. GENERAL
2. HKJC AND THE AUCTIONEER
3. REGISTRATION AND BIDDING
4. PURCHASES AND PAYMENT
5. WARRANTIES
6. DEFECTS AND IMPERFECTIONS
7. DISPUTES
8. RISK AND RESPONSIBILITY
9. GIVING EFFECT TO THESE CONDITIONS AND GOVERNING LAW


1. GENERAL

a. In these Conditions:
  "Auctioneer" means such auctioneer appointed by HKJC to conduct the Sale.
"Authorised Agent" means such person appointed by the Purchaser to bid on his behalf at the 2004 Hong Kong International Sale.
"HKJC" means The Hong Kong Jockey Club.
"Lot" means a horse put up for auction at the Sale subject to these Conditions.
"Purchaser" means the highest bidder of a Lot, subject to the fall of the hammer.
"Sale" means the 2004 Hong Kong International Sale organised by HKJC.
b. No Lot will be sold privately, prior to the Sale and there is no reserve price for any Lot.
c. HKJC reserves the right to amend or modify these Conditions at any time prior to the Sale. All bidders and Purchasers are deemed to have agreed to accept and be bound by these Conditions and all
amendments thereto from time to time.
d. In the event of any inconsistencies between the English and Chinese language versions of these Conditions of Sale, the English version shall prevail.
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2. HKJC AND THE AUCTIONEER

a. The Auctioneer may refuse to accept any bid without assigning any reason therefor.
b. HKJC may withdraw any Lot from the Sale without giving any reason therefor.
c. HKJC shall be entitled in its absolute discretion to engage a veterinary surgeon to inspect and/or treat any Lot.
d. HKJC shall be entitled to deduct from any moneys held or received from the Purchaser or otherwise held or received on behalf of the Purchaser such amounts as may be necessary to satisfy and discharge all debts, including without limitation any unsettled purchase price of a Lot purchased by the Purchaser at the Sale, commission, charges, fees, taxes, interest and other moneys owed by the Purchaser to HKJC and/or the Auctioneer.
e. HKJC may recover from the Purchaser and/or his Authorised Agent any unsettled purchase price of a Lot purchased by or on behalf of the Purchaser at the Sale and/or any debt referred to in paragraph 2d above, together with interest thereon at the rate of 2% per month from the date on which the price or debt is due up to and including the date of payment.
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3. REGISTRATION AND BIDDING

a. All bidders at the Sale shall pre-register with HKJC by completing the appropriate International Sale Purchaser Registration Form and sending the same by hand, by mail or by fax to the following address before 5:00 p.m. (Hong Kong Time) at least five (5) days before the date of the Sale. Address - The Hong Kong Jockey Club, International Sale Office, 15/F Jockey Club Headquarters, One Sports Road, Happy Valley, Hong Kong (Fax: (852) 2966-7000). All pre-registrations shall be subject to confirmation by HKJC. Late registrations will be permitted only in exceptional circumstances and at the sole discretion of HKJC.
b. Any bidder wishing to appoint an Authorised Agent shall complete the appropriate Agent uthorisation Form and follow the same procedure described in paragraph 3a above. All appointments of Authorised Agents shall likewise be subject to confirmation by HKJC.
c. All bids shall be in Hong Kong Dollars, with equivalents expressed in appropriate foreign currencies for information only.
d. If a Purchaser who has purchased a Lot through an Authorised Agent shall default in paying the purchase price of the Lot and/or any debt referred to in paragraph 2d above, the responsibility shall remain with the Authorised Agent or the person who purchased the Lot at the sale ring.
e. A Purchaser eligible to retain a Lot to race in Hong Kong must be:
  (i) A holder of a valid 2004/2005 or 2005/2006 Import Permit (for PP or PPG), or
  (ii) Listed on the Reserve and T