1. General provisions
1.2. Definitions used in the Auction Rules:
The Auctioneer/ Company– company name UAB “WOOD MASTER”, company’s registration No. 157043965, VAT payer code LT570439610, address of registered office K. Petrausko 26, LT-44156 Kaunas, Lithuania, e-mail email@example.com phone +370 349 79027, register which stores and safeguards the data – Register of Legal Entities of the Republic of Lithuania.
The Administration – the Auctioneer and other individuals, responsible for organizing and conducting the Auction.
The Auction – a purchase – sale of Property when a public auction is organized and conducted on a website www.woodmaster.lt (hereinafter referred to as the Website).
The Object of the Auction/ Property/ Item – used machinery, equipment, other things, which are not prohibited to trade by the laws of the Republic of Lithuania and which are offered by the Auctioneer for purchasing. Each Object of the Auction has its number, i.e. a lot.
Property for sale is not intended for personal (consumption) needs, outside trade, business, craft or profession (within meaning of clause 6.228_1 of civil code of Republic of Lithuania).
The Bidder – an adult natural or legal person who has registered on Website to participate in the Auction in accordance with the rules.
The Bidder’s Representative – a person who represents the Bidder during the Auction and concluding and executing the Property purchase transaction concluded during the Auction.
The Bidder’s account on Website – personalaccessof Bidder through online Website which provides an opportunity to submit bids and purchase Objects of the Auction online, monitor changes in bids of interested Auction Objects, be notified about new bids submitted. An account can be used for many auctions.
An account is created by registering on the Website and activated by the Auctioneer.
Participation in the Auction – all actions granting the rights and creating the obligations to the Bidder. A failure to execute the aforementioned rights and obligations may be subject to civil liability by current legislation and these Auction Rules.
The Auction Winner/ Buyer – a Bidder who has bid the highest price for Property at Auction.
The Bidder’s Number – the number of the Bidder indicated in Bidder’s account on Websitethat is displayedwhen a bid is placed for Object of Auction.
Bidding at the Auction or on the internet – a price offer made by a Bidder for a certain Object at the Auction, which binds the Bidder to buy the aforementioned Object, if no other Bidder offers a higher price during the Auction. The bid is irrevocable.
Bid is placed without applicable fees, costs, taxes (including VAT).
The Increment – interval of a bid, which shows the increase in price for Property on sale at the Auction.
The Starting Price – initial price, announced at the Auction for bidding on a specific Property.
The Reserve/Minimum Price – a certain price set by the owner of Property (higher than the starting price). If this price is not reached, the Property is considered unsold. It may be confidential.
The Accepted Price (“Hammer price”) – the highest price offered during the Auction by the Bidders, registered in the server of Website.
1.3. Company is responsible for organisation, preparation and execution of the Auction.
1.4. Company shall be entitled: not to recognize a bid as such; to exclude person from the Auction; to remove lot from the Auction; to correct its own errors that were noticed in submitted Auction information without this giving any additional rights on the part of Bidder, Buyer; to cancel or terminate Auction at any point of time, before or during Auction, and without providing explanation; to extend Auction by 24 hours if Website experiences any technical problems.
2. Notice of Auction
2.1. The Auction on a specific Property is being announced on the Website in advance.
2.2. The notice of Auction on the Website shall specify:
2.2.1. information about Property for sale:
126.96.36.199. name of Property for sale;
188.8.131.52. manufacturer, year of manufacture (if applicable);
184.108.40.206. technical details (if applicable);
220.127.116.11. main characteristics of Property;
18.104.22.168. starting price of Property for sale;
2.2.2. date and time (hrs, minutes) of start and end of Auction;
2.2.3. terms of inspection of Property for sale (if applicable);
2.2.4. the amount of auction fee, term of its payment;
2.2.5. other applicable fees,costs, their amount, term of their payment (if applicable)
2.2.6. the amount of guarantee deposit, term of its payment (if applicable);
2.2.7. number(s) of the Company’s account(s) to which the auction fee, security deposit and payment for Property is to be paid;
2.2.8. term and procedure for payment of purchased Property;
2.2.9. collection time of purchased Property;
2.2.10. location for collection of purchased Property;
2.2.11. other important information.
2.3. Notice of Auction shall be deemed to be specific Auction terms binding to Bidder who placed the bid.
2.4. Property for sale is not new, is used and is sold “as is, where is”. No warranty or guarantee on any Property is issued/applicable (except for the right of ownership under clause 2.5. of Auction Rules) by Company, seller.
Property is sold without software. If the software is still in Property, the Buyer must either destroy or declare its presence to the manufacturer in order to receive the corresponding license.
The Property for sale shall be submitted without documents (including, but not limited to, certificates, declarations, instructions, manuals), without accessories, unless otherwise specified in notification of Auction.
2.5. The Property for sale is owned by the seller and upon mandate of seller is sold at Auction. There are no proceedings which claim the ownership of the Property for sale and prevent the free transmission of the Property.
2.6. Until its sale in Auction the Property shall remain the property of the seller.
2.7. Interested persons are provided an opportunity to inspect (under terms indicated in notice of Auction) Property before the start of Auction.
2.8. Persons visit (including for the purpose of inspecting Property or collect acquired Property) site or building where the Property is located at their own expense and risk.If applicable vistation requirements are provided to persons, they must be complied with.
2.8. The Bidder should inspect the Objects of Auction and their state until the start of the Auction, may consult the respective experts. After a purchase of Property in Auction has been made and Bidder did not came to inspect the Property and its condition before the purchase, any complaints concerning the Property that have been bought are not accepted.
3.1. Person who wishes to participate in Auction (as the Bidder) needs to register in Website.
3.2. The registration must be completed and Bidder’s account on Websitemust be activated before the end of Auction in which person wishes to participate.
3.3. Only natural or legal persons with full legal capacity/ passive and active civil capacity can register in Website, participate and purchase in Auction.
Should the Bidder be registered by a representative, Company shall be entitled to request proof of power of representation of the Bidder (copy of the issued power of attorney, copy of the extract from the register of legal entities and / or other document).
3.4. The person who registers in Website must fully and truthfully provide the information requested in the registration form and confirm its identity using the means of identification offered on the Website.
The person who registers in Website hereby confirms that it is not considered as consumer (within meaning of clause 6.228_1 of civil code of Republic of Lithuania) and that information provided by it is truthful and complete. Person should immediately inform Company of any changes to the data which has been provided.
3.5. During registration process, person selects username and password.
3.6. The Bidder undertakes to protect the information of Bidder’s account on Website, login details, passwords from third parties and must use it only in person. The Bidder is responsible for all bids submitted through the Bidder’s account on Website and must pay for the purchased Property and other applicable fees and costs.
3.7. The information provided on registration form will not be transmitted, transferred, or otherwise disclosed by Company to any third parties, except as required by law or Property is inspected or Property is purchased in Auction.
4. The Auction procedure
4.1. The Auction is held at Website on time set by the Company and indicated in notice of Auction on the Website.
The Auction is organized and conducted by Administration.
The Auction is conducted in English language.
4.2. During the Auction its participants must indicate on the Website the bid price for the Property sold in Auction.
4.3. The Starting Price for a Property may be increased by the following bid increments:
€1– €49: by increments of €5;
€50 – €199: by increments of €10;
€200 – €499: by increments of €20;
€500 – €999: by increments of €50;
€1000 – €1999: by increments of €100;
€2000 – €4999: by increments of €200;
€5000 – €9999: by increments of €250;
€10,000 – €19,999: by increments of €500;
€20,000 – €49,999: by increments of €1000;
€50,000 – €199,999: by increments of €2000;
€200,000 – €499,999: by increments of €5000;
€500,000 – €999,999: by increments of €10,000;
€1,000,000 or more: by increments of €25,000.
4.4. Bidders may increase Price for a Property manually or automatically on the Website.
4.5. If the price is increased manually, the Bidder may offer a Price for Property which is not less than the starting price or higher than it, increased by at least the minimum price increase increment set by Company. Until the end of the Auction, the Bidder may increase the price an unlimited number of times. Other Bidders must offer a higher price than the one previously offered, but may increase it by at least the minimum price increase increment set by Company.
4.6. If the price is increased automatically (using the automatic bidding agent function), the Bidder shall indicate the starting bid price, which may not be lower than the starting sale price of the Property, also the maximum bid price. If the price is increased automatically, the starting price offered by the Bidder is displayed, which remains until the moment when the other Bidder offers a higher price. If another Bidder offers a higher price, the bid of the Bidder that has set the automatic price increase is automatically increased by minimum price increase increment set by Company until the price offered by the other Bidder exceeds the maximum bid indicated by the Bidder that has set the automatic price increase. When raising a price automatically, the price may be increased by an amount less than the specified price increase increment in case the difference between the maximum automatic bid and the price already offered will be less than the specified increase increment. The price is automatically raised to the maximum bid set by the Bidder.
4.7. If the Bidder who increases the price manually offers the same price as the other Bidder who increases the price automatically has previously indicated it as the maximum bid price, the highest bid of the Bidder who previously set the automatic price increase is displayed in Auction, which becomes the offered price of Property at that moment.
The procedure set forth in this clause shall also apply in cases where the Bidder who automatically increases the price offers the same maximum bid as the other Bidder who automatically increases the price has previously indicated as the highest bid.
4.8. During the Auction, the maximum price offered at that time for the Property sold in Auction is displayed on Website.
4.9. The price offered by the Bidder shall be deemed accepted when it is recorded on the Website server before the end of the Auction. The Bidder has no right to cancel his bid.
5. End of the Auction
5.1. The Auction ends at the time specified in the notice of Auction. If at least one bid is received before the end of the Auction, the Auction is extended for an additional period of 2 minutes and 0 seconds, during which the Bidders may bid for the Property to be sold. After each additional bid received during the extended term of 2 minutes and 0 seconds, the Auction shall be repeatedly extended for the term of 2 minutes and 0 seconds, which shall start from the moment of receipt of the bid. The extended Auction ends if no other higher bid is received within 2 minutes and 0 seconds after the last bid.
5.2.The winner of the Auction is the Bidder who has offered the highest price before the end of the Auction. The price offered by the winning (successful) Bidder is also the sale price (“Hammer price”) of the Property.
5.3. At the end of the Auction, the price at which the Property is sold is published on Website. Within 48 working hours from the end of the Auction an electronic notification of the won Auction and invoice is sent to the winner, and an electronic notification that the Auction has not been won is sent to other (unsuccessful) participants.
5.4. The Auction shall be considered as failed, if:
5.4.1.no person has offered the Starting price set in the Auction and / or the minimum price applied in the Auction;
5.4.2. other conditions of the Auction have not been fulfilled.
5.5. The contract of purchase-sale of Property by Auction shall be deemed concluded (under present Auction Rules and specific Auction terms) when the Company sends electronic notification to the winner of the won Action.
From this moment on, the risk of the Property is transferred to the Buyer.
5.6. The Buyer is obliged to timely collect, remove the purchased Property at its own expense and risk in accordance with terms indicated in notice of Auction.
The Buyer is responsible for ensuring that any Property purchased may be exported from location for collection of purchased Property into the Buyer’s country. Should it not be possible to export the Property purchased for any reason whatsoever, the Buyer will still have to fulfill his obligations as contract of purchase-sale of Property by Auction entered into.
5.7. The Buyer is obliged to fully pay to Company the sale price of Property and other applicable amounts before collection of purchased Property.
5.8. Guarantee deposit (provided it has been paid) shall be refunded to the Bidders who have not won the Auction within 5 working days from the end of the Auction.
5.9. Guarantee deposit paid by the winner of the Auction is included in the sale price of the Property.
5.10. Company acquires the right not to return the Guarantee deposit, if contract of purchase-sale of Property by Auction is terminated due to fault of false Bidder.
5.11. By purchasing Property in Auction, the Bidders agree, that the Auction photos are used indefinitely for the statistics of the Auction, as well in databases of the Auction.
6.1.In addition to the the sale price (“Hammer price”) of the Property, Buyer must pay for each lot:
6.1.1. auction fee in amount indicated in notice of Auction;
6.1.2. other fees, costs (for dismantling, loading, shipping and/or others) in amount indicated in notice of Auction.
6.2. Sale price of Property, applicable fees, costs indicated in Auction Rules, notice of Auction are indicated without applicable taxes (including VAT), customs duties.
The taxes (including VAT), customs duties shall be charged to the statutory amount.
6.3. All payments (sale price of Property, applicable fees, costs, taxes) are made in Euro. Payments shall be made to the specified bank account of the Company.
6.4. The Company issues invoices and provides them in electronic format. Invoices are sent to the Bidder‘s / Buyer’s e-mail address and / or via the Bidder’s account on Website . The Bidder / Buyer hereby declares that it agrees with the use of electronic invoices and the above-mentioned method of sending invoices.
6.5. If the Bidder/Buyer delays payment it is obliged to pay to Company interests in the amount of 0,2% of the unpaid sum for every day in delay.
6.6. If the Buyer does not pay the sale price of Property and/or other applicable amounts or fails to perform other obligations in compliance with the established procedure and within the set time limits, the Company shall be entitled to exercise all rights of the seller (including but not limited to, the right to unilaterally, without applying to court, terminate contract of purchase-sale of Property by Auction, by informing false Bidder 1 working day in advance). Moreover, the Company may, in addition to the ordinary remedies of a seller, announce, after a notice given to the Buyer within a reasonable time, that Company is holding a new Auction for the sale of the Property. In such event a false Bidder may not bid again at a new Auction. False Bidder is bound to cover the Company’s expenses incidental to arranging and holding a new Auction, pay the difference in prices if the Property was sold at new Auction at a lesser price than the price false Bidder did not pay and also cover other expenses (including but not limited to storage costs) and losses incurred as a result.
6.7. Should after Auction third parties assert reasonable claims to Buyer on the basis of the retention of title of Property, the Buyer has right to withdraw from contract of purchase-sale of Property by Auction, return Property in question. In this case the paid amount is refunded and direct losses are reimbursed to the Buyer, provided that the Buyer was unaware and was not able to know about the third party claims for the Property.
7.1. These Auction Rules shall be construed, interpreted, and implemented in compliance with the laws of the Republic of Lithuania.
7.2. Any disputes arising over the terms and conditions of the Auction organized and held by the Company, over the transfer of Property sold at the Auction, or over other related matters shall solved in the Court of the Republic of Lithuania by Company’s place of residence, stated in Register of Legal Entities of the Republic of Lithuania following procedural and substantive law of the Republic of Lithuania.
7.3. All notices presented to Company, Bidder, Buyer are to be sent through Bidder’s account on Website or by registered mail or e-mail or handed personally. The languages of correspondence between parties –English language.
The Bidder (and the Bidder’s representative) responsibly declares and guarantees that conclusion of documents/submission of information in English language is acceptable to it, the Bidder (and the Bidder’s representative) understands the documents/information in this language.
7.4. The Bidder/Buyer can not transfer its rights or obligations obtained by participating in the Auction to the third party without prior written agreement of Company.
7.5. The Bidder, Buyer shall be obliged to treat in confidence all commercial, technical and other information which it receives from the Company for at least 5 (five) years from its receipt unless such information is generally known (without the Bidder, Buyer being responsible for this) and shall not use such information for purposes other than the fulfilment of the contract of purchase-sale of Property by Auction and shall not make it accessible to third parties.
7.6.These Auction Rules are written in the Lithuanian and English languages. If there are any discrepancies between texts of contract in Lithuanian and English language, text of Auction Rules in English language will have preference.
7.7. These Auction Rules are approved by the Company and are valid from January 1st, 2022.