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GENERAL COMMERCIAL TERMS AND CONDITIONS FOR BUYERS

General Commercial Terms and Conditions of VeaCom s.r.o., with registered office at Prague 5 - Košíře, Plzeňská 155/113, Postal code 150 00, inscribed in the Commercial Register maintained by the Municipal Court in Prague, file ref. C 116995, Co. ID No.: 275 81 063 applicable to sales of used motor vehicles taking place in a form of an Internet auction (hereinafter only the „GTC“).

1.        Basic Terms

1.1.   "VeaCom" is the trade company VeaCom s.r.o., with registered office at Prague 5 - Košíře, Plzeňská 155/113, Postal code 150 00, inscribed in the Commercial Register maintained by the Municipal Court in Prague, file ref. C 116995, Co. ID No.: 275 81 063. Mailing address is the same as the Company’s registered office. In an Internet auction VeaCom is the seller of Vehicles or the Vehicles sales agent authorized to act in the matter of Vehicle sale on behalf of the Vehicle owner (i.e. it is namely authorized to confirm the Buyer’s offer and collect the Purchase Price).

1.2.   "Vehicle" means used motor vehicle intended for operation on roads, which is offered for sale in a form of an Internet auction.

1.3.   "Partner" is a natural or legal person, which is an entrepreneur in the area of purchase and sale of motor vehicles in the meaning of Sec. 420 of the Civil Code, which is registered at the relevant revenue office as a value added tax payer and which is registered in the VeaCom records, based on its application.

1.4.   "Internet auction" means the manner of Vehicle sale under the herein stipulated conditions, when the Price amount is being created during the Internet auction course based on draft purchase contracts (bids) submitted  by the Partners and the Buyer’s selection. The Internet auction is not a public sale in the meaning of Sec. 1771 of the Civil Code.

1.5.   "Purchase Price" is the amount offered by the Buyer during an Internet auction for purchase of a Vehicle, confirmed by VeaCom in accordance with the Art. 3.2 and increased by the Administrative Fee..

1.6.   „Administrative Fee" means the amount of VeaCom’s lump-sum costs associated with sale of a single Vehicle, amounting to CZK 2,000.- (in words: two thousand Czech Koruna), which shall always be added to the Purchase Price.

1.7.   „Auction Frustration Fee“ means compensation of costs associated with damage incurred if the Partner does not sign a purchase contract for the auctioned off Vehicle. The minimum amount of the auction frustration fee is CZK 5,000.- (in words: five thousand Czech Koruna) for each individual Vehicle.

1.8.   "Auction Security" means the amount CZK 20,000.- (in words: twenty thousand Czech Koruna) or  EUR 1000,- deposited to the VeaCom’s account before an individual Internet auction. Should the Partner not succeed, or should the Partner collect the auctioned off Vehicles without any problems, the entire Auction Security will be returned to the Partner without any undue delay after the Vehicle take over. Should the Partner auction off a Vehicle and fail to enter into a purchase contract due to the reasons on the Partner’s side or should the Partner withdraw from or otherwise terminate a purchase contract, the Auction Security shall be returned to the Partner after deduction of the Auction Frustration Fee and potential contractual penalty resulting from these GTC, for each individual vehicle, purchase of which has been frustrated in such manner.

1.9.   „Vehicle Location Place“ means the place entered in the relevant Vehicle’s card, in which the Vehicle is located in the period from the Internet auction terms and conditions publishing till the Vehicle hand over to the Buyer and where the Partners have the possibility to inspect the Vehicle.

1.10.  „Seller“  means VeaCom or any other natural or legal person interested in sale of Vehicles in a form of an Internet auction.

1.11.  „Civil Code“ means the Act no. 89/2012 Coll., the Civil Code, as amended.

2.        Internet Auction Course

2.1. VeaCom reserves the right to manage the beginning, course and end of the Internet auction and also the right to cancel or change the Internet auction up till the moment of the Internet auction closing, without creating any right of a Partner towards VeaCom.

2.2. The Vehicle forming the subject of the Internet auction shall be made available to the Partners for inspection in the Vehicle Location Place during the course of the Internet auction.

2.3. Should a price bid be entered under the Partner’s access name and password for a particular Vehicle offered in the Internet auction, it shall be deemed that as of the moment of such data entering the relevant Partner demonstrated its interest to enter into a purchase contract, whereat the Partner undertakes to purchase the Vehicle from the Seller for the price offered according to these GTC. The Partner shall be bound by its submitted offer forming a draft purchase contract and it shall be only entitled to increase the bid price anytime till the Internet auction closing. Purchase price reductions are not permitted.

3.        Vehicle Purchase

3.1. Without any undue delay from the Internet auction termination VeaCom reserves the right to decide, whether it shall enter into a purchase contract with the Partner that submitted the highest bid (hereinafter only the „Buyer“), or whether it shall not sell the Vehicle based on too low bid prices. In such case, VeaCom may list the Vehicle in a new Internet auction.

3.2. The subject of the purchase contract shall be the Vehicle with all parts and accessories in its „as is“ condition as of the moment of the purchase contract signing, i.e. also with all and any potential visible or hidden defects. With regard to the fact that the subjects of sale are used vehicles, the Seller does not provide any warranty for the Vehicle, except for any potential existing warranties provided for the Vehicle by the Vehicle manufacturer or the original seller. Such warranties, if any, shall be stated in the Vehicle presentation at the Internet auction. The above shall be applicable also should the Buyer not make a use of the possibility to personally and physically inspect the Vehicle in the Vehicle Location Place.

3.3. The Buyer is obliged to pay the Purchase Price (including the bid price in the Internet auction confirmed by VeaCom and the Administration Fee) plus the legal VAT, based on  a VeaCom’s invoice, in three days from the invoice delivery; the invoice shall be deemed delivered also if delivered by e-mail. VeaCom is obliged to send the invoice not later than in 5 days from the moment of the bid acceptance.

3.4. The Buyer undertakes to take over the Vehicle in eight (8) days from the auction ending and to sign a hand over record with the Seller. However, the Vehicle Purchase Price must be placed at the VeaCom’s account not later than in three (3) days from the invoice delivery. Should the Buyer fail to take away the Vehicle in 8 days from the Auction closing, VeaCom shall arrange for transport, storing and security of the Vehicle at an external parking lot. The fee amounting to CZK 3,000 shall be charged to the Buyer for such service and each individual vehicle. The moment of the hand over record signing shall be deemed the moment of the Vehicle purchase contract conclusion between the Seller and the Buyer. VeaCom shall arrange for the Vehicle handing over, including all its parts, accessories, technical license and other documents necessary for performance of changes in the Register of Motor Vehicles, without any undue delay, according to an agreement with the Buyer. VeaCom undertakes to secure submission of an application for entry of changes in the owner of the Vehicle to the relevant Municipal Office with extended authorities, in ten (10) days from the Vehicle take over, i.e. transfer of the title to the Vehicle.

3.5. The title to the Vehicle and the Risk of damages to the Vehicle pass to the Buyer as of the moment of the hand over record per the Art. 3 par. 3.4 hereof signing.

4.        Withdrawal from the Purchase Contract and Final Provisions

4.1. VeaCom is entitled to withdraw from a purchase contract signing in a form of a notice sent to the Buyer electronically, by post or facsimile, in case of the Buyer ‘s delay with payment of the Purchase Price, or any part thereof, by at least 3 days; payment of the Purchase Price shall be understood the relevant amount placement to the VeaCom’s account. At the same time VeaCom shall be entitled to demand from the Buyer payment of the contractual penalty amounting to 1% of the Vehicle Purchase Price, VAT inclusive, for the breach of its obligation to pay the Vehicle Purchase Price in a timely manner, and payment of the Auction Frustration Fee.

4.2. If the Vehicle is not sold to the Buyer, VeaCom may accept an offer of the Partner that has submitted the second most favorable bid and thus the Partner shall become the Buyer.

4.3. The Buyer shall be entitled to withdraw from a purchase contract signing within 48 hours from the Internet auction closing, and the Buyer may do so without stating the reason. Should the Buyer withdraw from the purchase contract signing, VeaCom shall return all money received from the Buyer until that time using the same manner of payment, except for the Auction Frustration Fee, and VeaCom shall do so without any undue delay, however not later than in 14 days from the day of the written notice of withdrawal from the purchase contract delivery. The Buyer is obliged to withdraw in writing and send the written withdrawal to the VeaCom’s address or electronically, whereat in such case the Buyer shall send the withdrawal to info@veacom.cz .

4.4. Unless stipulated otherwise herein, all amounts stipulated in these GTC are VAT exclusive.

4.5. The herein contained provisions on contractual penalties shall have no effect on the VeaCom’s potential claims from the Buyer and/or the Partner arising from compensation of damages.  

Unless stipulated otherwise VeaCom’s and Partner’s (Buyer’s respectively) rights and obligations not expressly settled herein shall be governed by the Civil Code, as amended.