Terms & Conditions

These General Terms and Conditions of Sale (hereinafter, the "General Conditions") govern access to and use of the intermediation service (hereinafter, the "Service") provided by the company GUTINVEST INTERNATIONAL ASSETS, S.L. (hereinafter, "GUTINVEST") in order to participate in a public auction sale procedure (hereinafter, the "Auction/s") of machinery, stock, real estate and other goods (hereinafter, the "Lot/s").

The intermediation Service between the owner of the Lot (hereinafter, the "Seller") and the persons interested in acquiring it (hereinafter, the "User/s") is offered by GUTINVEST to Users through the website www.gutinvest.es (hereinafter, the "Platform") in its online public auction sale format.

Hereinafter, Users who use the Service by registering on the Platform will be referred to as "Online Users"

Use of the Service implies full acceptance of these General Conditions. If the User does not agree with all or part of these General Conditions, the User must refrain from using the Service.

By accepting the General Conditions, the User declares:

That the User has read and fully understands the content set out herein.

That the User assumes all the obligations set forth herein.

That the User is of legal age and has sufficient legal capacity to use the Service.

1. Service Owner

The owner of the Service is GUTINVEST, with registered address at C/ Tavern 57-63, 08006, Barcelona (Spain), holding Tax ID No.: B-67283077 and registered with the Commercial Registry of Barcelona, Volume 46586, Page 80, Sheet B-524642.

The email address info@gutinvest.es is made available to Users so that they can raise any questions about these General Conditions and how the Auctions work.

2. Registration

In order to participate and bid in the various Auctions, it is essential to register as a User and accept these General Conditions and the privacy policy provided to the User. Registration is free of charge for the User.

To do so, the User must complete the registration form (hereinafter, the "Form") that GUTINVEST will make available, providing personal data that must be authentic and accurate. In the event of any falsification or manipulation, GUTINVEST will deregister the registered User.

As a registered User, you may update your data and take part in the bidding of the Auction you are interested in. You will also have access to all updated information regarding your bids, purchases and invoices.

3. Applicable Rules

These General Conditions are subject to the provisions of Law 7/1998, of April 13, on General Contracting Terms; the consolidated text of the General Law for the Defense of Consumers and Users and other complementary laws, approved by Royal Legislative Decree 1/2007, of November 16; Regulation (EU) 2016/679 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, together with the applicable Spanish regulations on this matter; Law 7/1996, of January 15, on the Regulation of Retail Trade; and Law 34/2002, of July 11, on Information Society Services and Electronic Commerce.

In any case, Users will also be subject to any other applicable regulations, such as Royal Legislative Decree 1/1996, of April 12, approving the consolidated text of the Intellectual Property Law.

4. Description of the Service

GUTINVEST acts solely as an intermediary between the Seller and the User with respect to the Lots auctioned in the Auctions.

All Lots in each Auction will be accompanied by a catalog listing and description, as well as images that allow the User to get a clear idea of the condition and characteristics of the Lot.

The User is informed that a number of viewing days will be available to inspect the lots.

The Lots will be awarded to the User who has bid (hereinafter, the "Bidder/s") and who is the highest bidder at the close of the Auction, provided that the minimum award price has been exceeded and the requirements set out in these General Conditions are met.

GUTINVEST reserves the right to: i) request additional references from the User to verify certain data provided in the Form; ii) request additional guarantees in order to bid in the Auction; and iii) accept or reject the bids of any User in the Auction.

Once the Auction of a Lot has ended, the User to whom it has been awarded, if applicable, will immediately receive an email from GUTINVEST informing them of the award of the Lot, together with the proforma invoice, which may be settled within the following three (3) calendar days from the date of the proforma invoice.

Minimum Bid: This is the amount from which a Lot begins to be auctioned in the Auction.

Minimum Sale Price: This is the minimum price from which a Lot can be awarded in the Auction.

Estimate: This is the price range that GUTINVEST's specialists suggest as a guide price for the Lot.

All User bids in the Auction accepted by GUTINVEST are binding and cannot be withdrawn.

5. Specific Conditions

Lots will be auctioned in their current condition, and GUTINVEST will not accept any claims regarding defects, even if they were not stated in the catalog. The preview, where applicable, of the Lots prior to the Auction will take place at the Facilities detailed for the sale, the purpose of which is to allow Users to thoroughly examine and study them.

All weights and dimensions of the lots are approximate and are provided for guidance purposes only. The valid text of the catalog, descriptions and condition reports of the Lot is the one written in Spanish, and GUTINVEST will not accept any claims regarding possible errors in translations into other languages.

6. Bids

The bidding order will be as follows:

BIDDING ORDER

Up to €100

€5

From €100 to €200

€10

From €200 to €500

€25

From €500 to €2,000

€50

From €2,000 to €5,000

€100

From €5,000 to €10,000

€250

From €10,000 to €20,000

€500

From €20,000 to €50,000

€1,000

Over €50,000

€2,000

GUTINVEST reserves the right to modify this bidding system in specific cases, informing the User before the start of the corresponding Auction.

7. Liability

GUTINVEST acts solely as an intermediary between the Seller and the User and, therefore, assumes no liability for any information or statement regarding the Lots, including, for example, measurements and current condition of the Lot, it being the User's responsibility to form their own judgment or opinion regarding the Lots before the close of the Auction.

GUTINVEST will only be liable for damage, defects or losses suffered by the Lot provided that it remains at the Facilities after having been awarded to the User and the User has paid the corresponding invoice. In this regard, once the Lot leaves the Facilities, GUTINVEST assumes no responsibility for its condition and, therefore, assumes no liability for any damage or loss of the Lot during transport to the destination indicated by the User, should the User choose to contract this transport service.

Under no circumstances may compensation or indemnities be claimed for lots which, having been auctioned or awarded, have been lost, stolen from or during the Auction, withdrawn from the Auction or cancelled, the amount to be refunded being expressly limited to the award amount of the lot paid by the purchasing User.

The User agrees to use the Service for the purpose for which it was created and to act in accordance with current legislation and the terms of these General Conditions. The User is hereby informed that, in the event of non compliance, GUTINVEST may suspend or delete the User's account without prior notice or any right to compensation of any kind.

8. Cancellation of a Purchase

All offers made by the User will be irrevocable and cannot be cancelled. GUTINVEST reserves the right to claim damages that may arise during the sales process.

9. Auction Incidents

Should any connectivity incident related to the Service occur, Users will be notified as soon as possible. In such cases, GUTINVEST reserves the right to extend the deadline of the Auction affected by this incident, in order to guarantee access to it for all affected Users, or, if it deems it appropriate, may proceed to cancel the affected Auction.

In any case, GUTINVEST will not be liable for incidents, errors or damage caused in the Platform's Auctions that may arise from these technical incidents or from causes of force majeure.

10. Commission

Once the Lot has been awarded in the Auction, GUTINVEST will send the corresponding proforma invoice to the User to whom it has been awarded. On the hammer price of the awarded Lot, GUTINVEST is entitled to charge a commission for the services rendered (the "Commission"), specified in the details of each sale. The corresponding 21% VAT must be added to this Commission.

11. Invoice and Method of Payment

Together with the informational award email that GUTINVEST will send to the User who was the highest bidder immediately after the close of the Auction, GUTINVEST will attach the proforma invoice corresponding to that Lot.

The proforma invoice must be paid to GUTINVEST within a maximum period of fifteen (3) calendar days from the date of the proforma invoice. GUTINVEST will be entitled to withhold the Lot until the invoice has been paid by the User.

If payment of the proforma invoice for that Lot is not made within the indicated period, GUTINVEST reserves the right to terminate the sale due to non compliance with these General Conditions, and the Buyer will therefore lose all rights over that specific Lot.

Ways to pay the proforma invoices related to the acquired Lot:

a) By credit/debit card through the virtual POS (point of sale terminal) enabled on the Platform for Online Users.

b) By bank transfer to our BBVA bank account:

• Account holder: GUTINVEST INTERNATIONAL ASSETS, S.L.

• Bank: BBVA

• IBAN: ES57 0182 0807 1802 0208 4294

12. Deadline to Collect the Awarded Lot

The User will have certain collection dates specified in the details of each sale (hereinafter, the "Collection Period") to collect the Lot at the location indicated by GUTINVEST.

Once the Maximum Collection Period has elapsed, GUTINVEST will apply a penalty of 100 Euros per Lot per day of delay. If the delay in collecting the Lot exceeds fifteen (15) calendar days, GUTINVEST additionally reserves the right to pursue any legal or judicial actions that may be applicable.

13. Intellectual and Industrial Property

All content that forms part of the Platform (information, images, designs, logos, software/source code, trademarks, etc.) is protected by the intellectual and industrial property rights of GUTINVEST and/or, where applicable, of third party owners who have duly authorized its use by GUTINVEST.

The acquisition of a Lot does not confer any rights over such content to the User.

Any reproduction, distribution, transformation and public communication, or any other exploitation of all or part of the Service or the Platform, carried out in any form or by any means, is strictly prohibited without the prior written authorization of GUTINVEST or the relevant third party owners. Any infringement of these rights may give rise to the corresponding out of court or judicial, civil or criminal proceedings.

14. Data Protection

By registering as a User, you acknowledge and accept the processing of your personal data by GUTINVEST, in accordance with the provisions of the Privacy Policy made available by GUTINVEST during the registration process.

15. Links

The Service may include links to other websites and internet portals.

GUTINVEST has no knowledge of the content and services of third party websites and, therefore, accepts no liability for the quality, content, nature or reliability of the sites and content accessible through the links on the Platform or sites that link to the Platform.

16. Nullity and Ineffectiveness of Clauses

If any clause included in these General Conditions is declared, in whole or in part, null or ineffective, such nullity or ineffectiveness will only affect that provision or the part of it that is null or ineffective, with the General Conditions remaining in force in all other respects, and such provision, or the affected part of it, will be considered as not included.

17. Modification of the General Conditions

GUTINVEST reserves the right to modify, at any time and without prior notice, the content of these General Conditions, as well as the Service and any aspect of the design, presentation and/or configuration of the Platform. These modifications will apply to Online Users from the moment they are published on the Platform.

18. Applicable Law and Jurisdiction

These General Conditions are governed by Spanish law.

Without prejudice to any rights that the User may have as a consumer, any dispute arising from matters relating to the Service and/or the Platform will be submitted to the competence and jurisdiction of the Courts of the city of Barcelona.

19. Special Provisions Applicable to In Person Users

A. Registration and Deregistration Request

A User who wishes to deregister as a User may do so at any time by contacting info@gutinvest.es.

B. Packing and Transport Costs

The User to whom the Lot has been awarded may request a quote from GUTINVEST for the packing and transport of the Lot to the destination indicated by the User, with the costs arising from these services being borne by the User. However, failing that, GUTINVEST will provide a number of specialized companies so that clients can request a quote tailored to their needs.

Once the Lot leaves the Facilities, GUTINVEST assumes no responsibility for its condition and, therefore, the User will be solely responsible for any damage the Lot may suffer during this transport phase.

20. Special Provisions Applicable to Online Users

A. Registration and Request to Deregister as a User

The Form will ask you to enter a "username" and a "password" which the User must enter whenever they wish to access "My GUTINVEST Account" on the Platform (hereinafter, the "User Area") to verify their identity and be able to participate in the Auctions. The User agrees to bid on their own behalf and not to transfer their Platform access credentials, which are personal and non transferable, to third parties.

Once the Form has been submitted with the requested information, GUTINVEST will validate the registration and send a confirmation email indicating that access to and use of the Platform as a registered User is now available.

A User who wishes to deregister as a User may do so at any time by contacting GUTINVEST, in accordance with the provisions of GUTINVEST's privacy policy.

B. Description of the Service

The Auctions will include a countdown timer (hereinafter, the "Countdown"), which tracks the time remaining to bid on a Lot. If a bid is placed during the final minute of the Auction, the Countdown will be extended by an additional five minutes to allow for any further bids.

Every bid placed on the Platform by a User will be automatically recorded in the User Area, where the User can track the history of the Lots they have bid on.

C. Packing and Transport Costs

Once the proforma invoice for the Lot has been sent to the User, the User may access their User Area and, if enabled for that sale, contract packing, loading and transport services for the Lot, the cost of which will always be borne by the User. In any case, as stated above, once the Lot leaves the Facilities, GUTINVEST assumes no responsibility for the condition of, or any damage that may occur to, the Lot.

The User to whom the Lot has been awarded may also choose, by notifying GUTINVEST accordingly, to arrange for the collection of the Lot themselves at the Facilities detailed for the sale, provided that no specialized company has been assigned to carry out the packing and loading work. If a specialized company has been specified, the client must contract its services, as specified in the breakdown of the final price of the lot.