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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:
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"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 2006 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 2006 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.
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| d. |
In the event of any inconsistencies
between the English and Chinese language versions of these Conditions
of Sale, the English version shall prevail. |
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. |
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 two (2) 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 Authorisation
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. |
4.
PURCHASES AND PAYMENT
| a. |
In respect of each Lot, the Auctioneer will signify
acceptance of the highest bid by the fall of the hammer. Upon fall
of the hammer: |
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(1) |
the Purchaser and/or his Authorised Agent shall give
his name,HKJC Membership number (if appropriate), address and telephone
number (together with any such other information as may be required
by HKJC and/or the Auctioneer) to the authorised personnel of HKJC
and/or the Auctioneer at the Sale, and shall duly execute an 'Acknowledgement
of Purchase' and/or such other purchase agreement as may be required
by HKJC and/or the Auctioneer. If the Purchaser and/or his Authorised
Agent shall fail to comply with these requirements, the purchase
may be cancelled and the Lot re-sold. If upon such re-sale a lower
price is obtained for the Lot, the difference in price together
with the costs and expenses of and incidental to the re-sale shall
be a debt due and payable by the original Purchaser and/or his Authorised
Agent to HKJC; |
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(2) |
the purchase price of the Lot purchased by the Purchaser and/or
his Authorised Agent shall become due and payable to HKJC within
a period of seven (7) calendar days from the date of the Sale; and |
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(3) |
the purchase price shall be paid to HKJC in cash, certified cheque,
traveller's cheque or acceptable cashier order in Hong Kong Dollars
only and the Purchaser and/or his Authorised Agent must notify the
means of payment to the Cashier in the Sale venue within thirty
(30) minutes of the close of auction for the last Lot. |
| b. |
The Purchaser shall take the Lot on an "as-is"
basis and subject to all defects, faults, imperfections and the
like, if any, whether latent or patent, other than those described
in paragraph 6 below. No Lot shall be returnable and no purchase
price shall be refundable other than in accordance with paragraph
6 below. |
| c. |
The Purchaser acknowledges that he has made the purchase
relying on his own and/or his Authorised Agent's expertise and inspection,
and that he has not relied on or been induced in any way by any
statement or representation made by HKJC, the Auctioneer or any
party purporting to act on their behalf. |
| d. |
The Purchaser shall not take delivery of the Lot until
payment of the full purchase price and all debts and other moneys
due in respect of the Lot shall have been paid to HKJC. Notwithstanding
delivery of a Lot to the Purchaser, title to it shall not pass until
the full purchase price and all debts and moneys as aforesaid shall
have been paid to HKJC. |
| e. |
If the Purchaser and/or his Authorised
Agent shall default in the observance or performance of any obligation
on his/their part by virtue of these Conditions, any moneys paid
by him or held or received on his behalf may be forfeited to HKJC,
who shall be entitled to cancel the Purchaser's purchase and sue
the Purchaser and/or his Authorised Agent for breach or re-sell
the Lot and recover the deficiency (if any) arising on such re-sale
or attempted re-sale (including all commission on re-sale, stabling
and yard dues, veterinary fees, advertising and promotional costs)
from the Purchaser and/or his Authorised Agent. |
5. WARRANTIES
| a. |
HKJC warrants that it has the right to sell, and can
give a good title for, each Lot. |
| b. |
Save for the circumstances described in paragraph 6 below, no
other condition and/or warranty (whether express or implied) shall
be given by the HKJC in respect of any Lot. |
6. DEFECTS AND IMPERFECTIONS
| a. |
Should any Lot be proved a roarer or wobbler or rig
(cryptorchid), or be addicted to box-walking, weaving or wind-sucking
or have been operated on for the correction of any of these conditions
within seven (7) calendar days of the Sale, then subject to the
Purchaser producing by 10:00 a.m. on the seventh (7th) day after
the Sale at his expense written evidence signed by a veterinary
surgeon approved by HKJC, certifying that the Lot has one of the
abovementioned conditions, the matter will be considered by the
Board of Stewards of HKJC, who may deem the purchase of the Lot
by the Purchaser to have been cancelled and return all moneys received
in respect thereof to the Purchaser. |
| b. |
A 'roarer' is defined as a horse that manifests a significant
inspiratory noise on exertion and which is found to be caused by
a paralysis of one or both sides of the larynx on endoscopic examination.
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| c. |
A 'wobbler' is defined as a horse that suffers from a neurological
disease caused by compression of the spinal cord and resulting in
lack of balance and co-ordination. |
| d. |
A 'rig' or 'cryptorchid' is defined as an uncastrated male horse
that has one or both testes not palpable in the scrotum. |
| e. |
A 'box-walker' is defined as a horse that habitually walks either
backwards or forwards or round and round the box repeatedly in an
aimless manner. |
| f. |
A 'weaver' is defined as a horse that habitually swings its head
and neck to and fro and transfers weight from one forelimb to the
other alternately. |
| g. |
A 'wind-sucker' is defined as a horse that habitually swallows
air whether in association with grasping fixed objects with incisor
teeth or not. |
| h. |
A crib-biter is not subject to the aforementioned conditions,
unless the crib-biting is associated with 'wind-sucking'. |
| i. |
All Lots sold will be tested for prohibited substances after the
Sale and prior to their release to the respective nominated trainers.
Without prejudice to paragraph 6a above, if a Lot is tested positive
for an undeclared prohibited substance, the Purchaser concerned
may apply for return of the Lot to HKJC. If, however, a Lot is tested
negative for undeclared prohibited substances or is tested positive
only for declared substances, the Purchaser concerned shall not
have any right to return the Lot and HKJC shall have no further
liability with regards to future tests for prohibited substances.
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For the purpose of this paragraph, "declared
substance" shall mean any medication or substance advised and
used by a veterinary surgeon approved by HKJC for short-term treatment
of a Lot and declared and documented by HKJC for the Purchaser's
information; and "undeclared prohibited substance" shall
mean any medication or substance which is not so advised, used,
declared and documented. |
7.
DISPUTES
| a. |
In the event of any dispute or difference arising
at the Sale (including any dispute or difference concerning bidding),
the Auctioneer shall be the sole arbitrator of any such dispute
or difference and its decision shall be final and binding on all
parties. |
| b. |
In the event of any dispute or difference arising after the Sale
(including any dispute or difference concerning bidding or purchase),
HKJC shall be the sole arbitrator of any such dispute or difference
and its decision shall be final and binding on all parties. |
8. RISK AND RESPONSIBILITY
| a. |
Upon the fall of the hammer, the sole risk and responsibility
for a Lot shall be borne by the Purchaser, who shall thereafter
be responsible for all loss, injury, damage or expenses incurred
in respect of the Lot. Without limiting the generality of the foregoing,
the risk and responsibility of a Lot shall include any death, injury
or loss of use of the Lot howsoever caused. |
| b. |
Any person on HKJC premises before, during or after the Sale shall
be deemed to be there at his own risk and shall have no claim against
HKJC in respect of any loss or damage to property howsoever caused. |
9. GIVING EFFECT TO THESE CONDITIONS AND
GOVERNING LAW
| a. |
The Purchaser for the purpose of enabling HKJC to
give full force and effect to these Conditions shall irrevocably
appoint HKJC as his attorney with full power to execute on his behalf
all necessary documents, to give all necessary instructions, and
to do all such acts and things as may be necessary in respect of
the Lot purchased by the Purchaser. |
| b. |
These Conditions shall be construed and take effect in accordance
with the laws of The Hong Kong Special Administrative Region (HKSAR).
The HKSAR Courts shall have exclusive jurisdiction to hear and determine
any action arising by virtue of these Conditions. |
The Hong Kong Jockey Club
One Sports Road
Happy Valley
Hong Kong
December 2006
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