1. Application and definitions
The present auction terms and conditions (hereinafter referred to as the "Terms") apply to any sale and purchase through the online auction site www.kapow.eu, (hereinafter referred to as the "Auction Site”), and may only be deviated from on having obtained the written consent of Kapow A/S, which owns and manages www.kapow.eu.
As the Seller, you are the one placing an item for sale via the Auction Site and, as the Bidder, you are the one placing a bid for/buying an Auction Item via the Auction Site. The Auction Item(s) is the machine/item offered for sale via the Auction Site.
2. Registration, security and personal data
In order to participate in auctions on the Auction Site, you must create an account. You must be of legal majority and, when you register, you will be asked to enter your CVR Co Reg. No/VAT No, company name, address, telephone number and an email address. It is solely your responsibility to ensure that the information you enter is correct. The Auction Site verifies your information before activating your account and sends you an email asking you to confirm your email address. If your information is incorrect, we will not be able to create your account.
The purpose of every user thus creating an account is that Kapow wants to provide users with as much security as possible for payment and collection of the Auction Item. Moreover, we need to be able to communicate with our users if a transaction requires this.
Creating an account is free and you are not bound by any membership. Once your account is created and you are registered as a user, you can use the auction options on the Auction Site. If you no longer wish to have an account on the Auction Site, you can always have it erased, just like you can always contact Kapow A/S to gain insight into what personal data we have registered on you. However, data required to comply with other legislation will not be erased. If you wish to have your account erased or to gain insight into what personal data we have registered on you, please contact email@example.com. In principle, your data will only be erased if you no longer wish to have an account on the Auction Site. As we only process general personal data, erasing your data after a specified period, based on a factual assessment, is not necessary. The data controller is the individual holding the post of CEO of Kapow A/S from time to time, and only the employees, for whom there is a legal authority, have access to your data. Your data is only disclosed to our Danish partner Midt Factoring A/S, CVR Co Reg. No 83712619, with whom we have entered into a data processing agreement. Midt Factoring A/S assists with invoicing and collection of auction bids. Apart from this, we neither disclose nor sell your information to third parties.
3. Right of complaint and liability
Pursuant to Section 48 of the Danish Sale of Goods Act, you cannot rely a claim that an Auction Item suffers from a defect, unless the seller has acted fraudulently or the item does not correspond to the designation under which it was sold. All Auction Items are sold as is and as possibly inspected by you and without any liability to the auctioneer, leasing company, trustee, probate court or Kapow A/S.
Any liability in case of fraud or if the object does not correspond to the designation under which it was sold can only be directed at the seller and is, thus, no concern of Kapow A/S.
4. Bidding, payment and breach
Any bid placed will be binding once the bid has been confirmed and registered on the Auction Site. When placing a bid, the Bidder must also enter the maximum amount that the Bidder wishes to place on the Auction Item. Your bid will automatically be raised to the minimum amount allowed once other bidders bids exceed your current bid until such time that your maximum amount is reached. If there are several Bidders with the same maximum bid amount at the end of the auction, the first bid placed will be valid. Only the Auction Site can see the maximum amount entered by the Bidder.
All auctions are be subject to a reserve price. If the highest bid is the same as or higher than the reserve price, the Auction Item is sold. If the bid is lower than the reserve price, the Seller will have 24 hours to notify the Auction Site of whether the Seller will accept the bid placed by the Bidder. The Auction Site is obliged to notify the Bidder within 24 hours of whether the Seller has accepted the bid.
In the case of identical bids being placed, the first bid will be valid. Bids placed less than 5 minutes before an auction closes will automatically extend the auction by 5 minutes from the time the last bid was placed.
The time allowed for payment is 5 days net. Within 24 hours of the auction closing, the successful Bidder will receive an invoice from Midt Factoring A/S stating the payment details. Once payment has been registered with Midt Factoring A/S, a delivery confirmation will be sent to the successful Bidder including relevant contact information for use when picking up the Auction Item. The specific time for collecting the Auction Item will be agreed directly between the Seller and the successful Bidder and will, thus, be no concern of Kapow A/S.
If the successful Bidder fails to make payment in a timely manner, or if the successful Bidder does not otherwise respond to the written request of Kapow A/S within 24 hours of the expiry of the deadline for the collection of the Auction Item, this will be deemed to be material breach and the auction agreement will be deemed to have lapsed.
In the event of a material breach, Kapow A/S will be entitled to cancel the auction agreement with the defaulting Bidder and offer the Auction Item to the Bidder placing the second-highest bid or to a third party.
The defaulting Bidder will be obliged to reimburse Kapow A/S for the difference in both bid sum and fees compared to the price obtained by the second-highest bid for the item or a third party, plus a 10 % surcharge.
If Bidder placing the second-highest bid or a third party refuses to purchase the Auction Item and the Auction Item must be reauctioned, the defaulting Bidder will be obliged to cover all reasonable costs associated with this.
If Kapow A/S or the Seller succeeds in selling the Auction Item won by the defaulting Bidder to a third party at a price that exceeds the defaulting Bidder's bid, the defaulting Bidder will not be entitled to deduct the excess sum from the costs associated with the sale, just as the defaulting Bidder will not be able to claim the profits.
Kapow A/S is entitled to exclude defaulting Bidders from the Auction Site. All data will be erased, just as Kapow A/S reserves the right to deny the excluded Bidder access to the Auction Site from the IP-address used.
5. Financing and costs
The Seller is solely responsible for ensuring that the Auction Item is unencumbered. Any liability in this respect is no concern of Kapow A/S.
If the successful Bidder requires financing for his purchase, this financing must be finalised by the time of the auction closing.
If it has been agreed with the successful Bidder that the successful Bidder will settle or assume any liens as part of the purchase, the Seller will be obliged to ensure that Seller can be released from any obligation towards third parties and that third party rights in relation to the Auction Item expire no later than at the time of conclusion of the auction agreement.
Handling fees constitute 5 % of the total bid and are payable by the successful Bidder. The fees are included in the final Auction Price.
6. Value-Added Tax (“VAT”)
All bids and handling costs are stated exclusive of VAT. VAT is added to both the Auction Item and to handling costs, unless the Auction Item is exempt from VAT.
For successful Bidders residing within the EU, the Auction Item and the fees are subject to Danish VAT. All invoices will thus be subject to VAT, unless the successful Bidder submits proper documentation that the goods will be exported from Denmark, in which case Kapow A/S will refund the VAT and issue a credit note and a new VAT-exempt invoice.
As documentation, Kapow A/S must receive a consignment note, an invoice from a shipping company, or other appropriate documentation that the goods will be exported from Denmark. If this documentation is not received, or in the event that the successful Bidder himself collects the Auction Item, the successful Bidder will be responsible for applying for a refund of Danish VAT with the Danish tax authorities.
Successful Bidders residing outside the EU can be exempted from Danish VAT when documenting that the Auction Item has been shipped outside of the EU. The successful Bidder may elect not to make use of the option of VAT exemption and, instead, choose to pay Danish VAT. The successful Bidder is responsible for ensuring that its VAT number is valid before placing any bids. Kapow A/S will check whether the VAT number is valid on this website: http://ec.europa.eu/taxation_customs/vies/?locale=da.
If the VAT number is not valid, the Auction Item will be subject to Danish VAT.
7. Theft or sabotage
If Kapow A/S ascertains that theft or attempted theft, sabotage or attempted sabotage has taken place, this will result in a report being filed with the police and exclusion from any future bidding on Kapow A/S.
8. Transfer of risk
The successful Bidder bears the risk for the Auction Item from the auction closing. If the Auction Item needs to be dismantled, disassembled or secured, this will occur at the risk and expense of the successful Bidder.
All loading occurs at the risk of the successful Bidder. Kapow A/S will not be liable for damage to purchased goods or other items. We are happy to help, but only at the risk of the successful Bidder.
9. Changes to terms and the catalogue and exclusion of liability relating to errors and omissions
Kapow A/S reserves the right to make changes to the catalogue, including omission of goods from auctions. Kapow A/S excludes liability for misspellings, typing errors, errors relating to pictures, incorrect specification of numbers, dimensions, weight, capacity and VAT status.
Kapow A/S excludes liability for any system errors or other technical issues that may affect the auction system and the bidding.
If technical problems arise at the conclusion of an auction, Kapow A/S reserves the right to restart the entire auction and leave it to close at a later date, typically at the same time on the following day, or when any technical problems have been solved. All active bidders will be notified by email as soon as possible.
10. Contact information
CVR/Co Reg. No 37526215
Telephone: +45 70707480
11. Law and venue
Any disputes relating to these Auction Terms are subject to Danish law and must be brought before the Horsens County Court.