EQUINE AUCTION CONTRACT
This Equine Auction Contract (“Contract”) is entered into by My Horse Connection LLC (“MHC”), and constitutes a legal, valid, binding, and enforceable contract between MHC and YOU and is subject to the following terms and conditions (“Seller Terms and Conditions”) and the undersigned seller (“You”) effective the day of consignment.
1. AUCTION CONDUCTED UNDER AND IN ACCORDANCE WITH THESE SELLER TERMS AND CONDITIONS, ADDITIONAL TERMS AND CONDITIONS POSTED BY MHC, AND ANNOUNCEMENTS MADE AT THE TIME OF THE AUCTION, AND APPLICABLE LAW; ACCEPTANCE OF SELLER TERMS AND CONDITIONS. The Auction is conducted under and in accordance with these Seller Terms and Conditions, any and all other Terms and Conditions posted by MHC, any announcements or corrections made by MHC prior to or at the time of the Auction, and applicable law. YOU ACKNOWLEDGE AND AGREE THAT YOU HAVE HAD A FULL AND REASONABLE OPPORTUNITY TO REVIEW THESE SELLER TERMS AND CONDITIONS, THAT YOU HAVE READ THESE SELLER TERMS AND CONDITIONS, THAT YOU UNDERSTAND THESE SELLER TERMS AND CONDITIONS, AND THAT YOU ACCEPT AND AGREE TO BE BOUND BY THESE SELLER TERMS AND CONDITIONS. YOUR participation in the Auction, whether online, telephonically, or through any other means authorized by MHC evidences. YOUR agreement to be bound by, and to abide by, all Seller Terms and Conditions.
2. DEFINITIONS. The following definitions apply to these Seller Terms and Conditions:
“Absentee Bid” means a bid submitted to MHC by an Absentee Bidder for the execution during the Auction under terms established by MHC.
“Absentee Bidder” means a person or entity that submits an Absentee Bid. An absentee Bidder may or may not be physically present at the Auction Site during the Auction.
“Absolute Auction” or “Absolute” applies only if and when expressly indicated in writing by MHC and means that Lot is sold to the highest bidder regardless of the amount of the final bid, with no limiting conditions, restrictions, or reservations. This type of auction is also known as an auction without reserve. Provided that a bid is received within a reasonable time after bidding opens on a Lot, the Lot will be sold to the highest bidder regardless of the final bid amount. A Lot exposed for sale at Absolute Auction may be withdrawn by MHC if a bid is not received within a reasonable time after bidding opens on the Lot. UNLESS SPECIFICALLY AND EXPRESSLY STATED BY MHC IN WRITING, NO AUCTION IS CONDUCTED BY MHC AS AN ABSOLUTE AUCTION, AND NO LOT IS BEING EXPOSED FOR SALE AT ABSOLUTE AUCTION OR WITHOUT RESERVE.
“Auction” means an auction conducted by MHC.
“Auction Catalog” means the MHC online catalog or listing that identifies Lots included in the Auction
“Bidder” means any person or entity (and the agents or representatives of any such person or entity) that registers, and/or bids, and/or buys, and/or otherwise participates in the Auction (including, without being limited to, inspection and/or pick-up), regardless of whether such person or entity tenders a bid.
“Bidder Account” the online account identified to a Bidder by MHC or by an Online Auction Platform Provider on Bidder’s Registration. (See, also, Bidder Number).
“Bidder Number” means the number or other identifier issued by MHC to a Bidder for the purposes of identifying bids to such Bidder. (See, also, Bidder Account).
“Bidder Registration” means the registration of a Bidder to participate at the online Auction (either online, or onsite, or both), including the information provided by a Bidder, and the Bidder’s to be bound by these Bidder terms and Conditions.
“Buyer” means the Winning Bidder on a Lot.
“Buyer’s Premium” is a non-refundable administrative fee calculated as a percentage of the Hammer Price that is payable by the Buyer of each Lot to MHC for MHC’s own account. The Buyer’s Premium is earned by MHC, and becomes MHC’s property, at the Fall of the Hammer.
“Commission” means the amount payable by or on behalf of Seller to MHC for MHC’s services, calculated as a percentage of the Hammer Price.
“Contract Price” means an amount equal to the Hammer Price. Any sales tax or similar such taxes or fees will be based on the Contract Price.
“Delivery” means the transfer of possession a Lot to the Buyer. Unless otherwise stated in writing, Delivery of a Lot will occur where the Lot is physically located during the Auction or at such other address as indicated on MHC’s website. Delivery does not mean that MHC will move or relocate any Lot from any physical Lot location during the Auction, or as indicated on MHC’s website, to any other location directed by the Buyer. Unless otherwise expressly agreed in writing, MHC will not move or relocate any Lot(s) on behalf of the Buyer.
“Fall of the Hammer” means the point at which MHC declares a Lot “sold” to the Bidder electronically at the end of timed (or extended) bidding as acknowledged by MHC as having made the Winning Bid if Reserve has been met.
“Hammer Price” means the High Bid amount recognized by MHC with the Fall of the Hammer. If a Lot is exposed for sale and reserve has been met, the Hammer Price will be (i) the Highest Bid, or (ii) such other amount as may be agreed to, in good faith, by Seller and the Buyer, whichever is greater.
“High Estimate” means an amount that, in the opinion of MHC anticipates that a Lot may bring at the high end of a spectrum of possible bids. The High Estimate, if used, is not an appraisal or representation by MHC, and cannot be relied upon by anyone as such.
“Lot” means each individual item (including horses and livestock) or grouping of items exposed for sale at one time by MHC.
“Lot Location” means, with respect to each Lot included in the Auction, the physical location of the Lot as disclosed in the Auction Catalog.
“Low Estimate” means an amount that, in the opinion of MHC anticipates that a Lot may bring at the low end of a spectrum of possible bids. The Low Estimate, if used, is not a valuation or appraisal, and cannot be relied on as such.
“MHC shall include all of MHC’s employees, personnel, owners, affiliates, assigns, representatives, agents, and contractors.
“MHC Website” means the website located at www.myhorseconnection.com that connects to the Online Auction Platform.
“No Sale” occurs if bidding opens on a Lot, but the Lot is not sold because MHC passes the Lot or declares a No Sale or otherwise withdraws the Lot from the Auction.
“Online Auction Platform” means the hardware and software utilized by MHC to conduct the Auction online and to facilitate online bidding, including any associated, adjunct, and/or complementary websites, services, premiums and promotions.
“Online Auction Platform Provider” means the provider of an Online Auction Platform and related services.
“Online Bidding Period” means any period established by MHC during which online bids may be tendered.
“Private Sale” means an event in which a Lot is sold by Seller, or on Seller’s behalf, other than through the Auction.
“Private Sale Price” means the fair market purchase price of the Lot
paid, or agreed to, at a Private Sale in an arms-length transaction between Seller and the purchaser of the Lot. If the Lot is sold through a Private Sale for less than its fair market value, or in a transaction that is not an arms-length transaction, or is gifted by Seller, the Private Sale Price will be an amount equal to the fair market value of the Lot in an arms-length transaction.
“Racehorse Style Closing” shall have the meaning as described in Section 17 below.
“Registration Deposit” means, if required by MHC, a deposit made by a Bidder in order to register for the Auction. MHC may require that a Registration Deposit be made in certified funds or in such other form of payment as determined by MHC in MHC in its sole discretion.
“Reserve” or “With Reserve” means that any Lot may be withdrawn by the MHC and/or bids may be rejected by MHC prior to the Fall of the Hammer. While Lots exposed for sale With Reserve may be subject to a Reserve Price, the establishment of a Reserve Price by MHC is not required. UNLESS SPECIFICALLY AND EXPRESSLY STATED OTHERWISE BY MHC IN WRITING, ALL LOTS ARE BEING EXPOSED FOR SALE WITH RESERVE.
“Reserve Price” means the minimum price that Seller is willing to accept for a specific Lot. If a Lot is subject to a Reserve Price, the Lot will not be sold unless the Reserve Price is met or waived by Seller.
“Seller” means the person or entity having title to a Lot and/or having the power and authority to sell, transfer, and convey title to a Lot.
“Winning Bid” means the highest bid received and accepted (and if Subject to Seller’s Confirmation, confirmed by Seller).
“Winning Bidder” means the Bidder who is recognized by MHC as having made the Winning Bid.
“Withdrawn,” “Withdrawal,” or “Withdraw” refers to the circumstance in which a Lot is removed or withdrawn from the Auction, or in which it is determined that such Lot will not be offered or sold at the Auction.
“Without Reserve” means Absolute.
3. MHC’S SERVICES. Seller grants to MHC the exclusive right and authority to offer the horse(s) identified for sale at one or more online auctions and shall have the exclusive right to effectuate the sale of the horse(s) in accordance with this Contract and MHC’s Bidder Terms and Conditions. MHC may select and utilize the services of online auction platforms, other professionals, and staff as MHC determines to be reasonably necessary or appropriate. MHC has discretion to determine the order of sale at the Auction, including Seller’s horse(s) and horses consigned by others. MHC may: (i) advertise the Auction in any reasonable manner or media, including online and print media; (ii) print and distribute sale bills; and (iii) include the horse(s) (including photographs and prices realized) on MHC’s website or otherwise in publicized lists of auction results achieved by MHC. All advertising and all online and print media related to the Auction or the horse(s) that is produced by or on behalf of MHC will be the exclusive property of MHC. Seller grants to MHC a no cost license to utilize in such manner as MHC deems appropriate, all videos, photographs and data provided to MHC by Seller with respect to the horse(s).Sellers Terms and Conditions may be amended at any time without notice. Those who consign and bid are bound by these Terms and Conditions, which together form the contract between the Buyer, My Horse Connection, LLC, and the Seller.
4. NATURE OF THE AUCTION; AUCTION LOCATION; AUCTIONEER. (A) Unless expressly and explicitly stated in writing by MHC, the Auction is WITH RESERVE. MHC may Withdraw any Lot prior to the Fall of the Hammer on such Lot, even if bids have been tendered and/or recognized against such Lot. In addition to being WITH RESERVE, Seller is required to accept the final bid if Reserve has been met. (B) All MHC Auctions are conducted by a licensed auctioneer in the State of Mississippi through an online bidding platform. All bids are solicited and received in the State of Mississippi. Auctioneer: Erica D. Way. License #1680. Address: 3001 Pat Station Road Starkville, MS 39759.
5. CONDUCT OF THE AUCTION. MHC shall conduct all aspects of the conduct of the Auction and MHC’s decisions in its sole discretion will be final and binding. MHC shall have control over bidding and will have the sole and absolute discretion to recognize and accept bids at any time and may (but will not be required to) reopen the bidding as MHC deems appropriate. MHC shall resolve all disputes, and MHC’s decision will be binding.
6. ACCESS TO LOT LOCATION, ONLINE AUCTION PLATFORM, AND/OR MHC WEBSITE. YOU assume all risks in connection with YOUR participation, or attempted participation, in the Auction, including, without being limited to, risks arising from or associated with (i) YOUR presence at the Lot Location; (ii) YOUR access to, and use of, any Online Auction Platform and/or the MHC Website; (iii) removal, transport, or use of any Lot(s); and/or (iv) any harm, injury, or damage to YOU or YOUR property. YOU further agree that neither YOU nor any person accompanying YOU to, or otherwise visiting, the Lot Location will attempt to operate or activate any machinery or equipment without MHC’s express consent; and, that, YOU will assume all liability for property damage and/or personal injury caused by YOU or YOUR representatives, employees, independent contractors, or agents. YOU acknowledge and agree that the Lot Location may be potentially dangerous places that require YOU to be diligent, alert, and aware at all times. YOU, further, acknowledge and agree that (i) tethered and untethered equines may be present at the Lot Location; (ii) hazardous substances may be present at the Lot Location; (iii) machinery, equipment, and vehicles may be operated at the Lot Location; and (iv) electrical circuits may be live at the Lot Location. YOU enter the Lot Location at YOUR own risk with notice of the condition and activities that will be, or have been, conducted at the Lot Location; and YOU assume such risks with respect to YOURSELF and anyone, including any minor children, accompanying YOU or visiting the Lot Location on YOUR behalf. YOUR representatives, employees, independent contractors, or agents also assume such risks. No person will have any claim against MHC and/or Seller, or their respective agents or employees, for any injuries sustained or for damages to or loss of property that may occur at the Lot Location. Neither MHC nor Seller will be liable for any damages of any type or nature sustained or claimed by prospective Buyer or by any other person or entity in connection with, or in any way related to, the Auction. YOU waive any and all claims and/or causes of against MHC arising in connection with, or in any way related to (i) YOUR presence at the the Lot Location; (ii) removal, transport, or use of any Lot(s); and/or (iii) any harm, injury, or damage to YOU or YOUR property.
7. AUCTION FORMAT. The Auction will be conducted online only.
8. INHERENT RISKS OF EQUINE ACTIVITIES; ASSUMPTION OF THE RISK. PURSUANT TO ALABAMA LAW SECTION 6-5-337, AN EQUINE ACTIVITY SPONSOR OR EQUINE PROFESSIONAL (WHICH SHALL INCLUDE MHC AND SELLERS) IS NOT LIABLE FOR AN INJURY TO OR THE DEATH OF A PARTICIPANT IN EQUINE ACTIVITIES RESULTING FROM THE INHERENT RISKS OF EQUINE ACTIVITIES, PURSUANT TO THE EQUINE ACTIVITIES LIABILITY PROTECTION ACT. BY PARTICIPATING IN THE AUCTION AND/OR OTHERWISE BEING PRESENT AT THELOT LOCATION, YOU (FOR YOURSELF, YOUR MINOR CHILDREN, AND ALL AGENTS, REPRESENTATIVES, EMPLOYEES, AND INDEPENDENT CONTRACTORS) ACKNOWLEDGE AND AGREE THAT THERE ARE INHERENT RISKS ASSOCIATED WITH EQUINE ACTIVITY AND BEING IN THE PRESENCE OR PROXIMITY OF HORSES. INHERENT RISKS OF EQUINE ACTIVITY INCLUDE, WITHOUT BEING LIMITED TO, THE FOLLOWING:
(i) THE PROPENSITY OF AN EQUINE TO BEHAVE IN WAYS THAT MIGHT RESULT IN DAMAGES TO PROPERTY OR INJURY, HARM OR DEATH TO PERSONS ON OR AROUND THE EQUINE. SUCH EQUINE BEHAVIOR INCLUDES, BUT IS NOT LIMITED TO, BUCKING, SHYING, KICKING, RUNNING, BITING, STUMBLING, REARING, FALLING, TRAMPLING, AND STEPPING ON;
(ii) THE UNPREDICTABILITY OF EQUINE REACTION TO SUCH THINGS AS SOUNDS, SUDDEN MOVEMENTS AND UNFAMILIAR OBJECTS, PERSONS OR OTHER ANIMALS;
(iii) THE UNPREDICTABILITY OF AN EQUINE REACTION TO BEING HANDLED, INSPECTED, OR VETTED;
(iv) THE UNPREDICTABILITY OF EQUINE PARTICULAR DISPOSITION OR TEMPERAMENT;
(v) CERTAIN HAZARDS SUCH AS SURFACE AND SUBSURFACE CONDITIONS;
(vi) COLLISIONS WITH OTHER EQUINE OR OBJECTS; AND
(vii) UNPREDICTABLE OR ERRATIC ACTIONS BY OTHERS RELATING TO EQUINE BEHAVIOR. FOR YOURSELF, YOUR MINOR CHILDREN, AND ALL AGENTS, REPRESENTATIVES, EMPLOYEES, AND INDEPENDENT CONTRACTORS, YOU KNOWINGLY AND WILLINGLY ASSUME THE INHERENT RISK OF EQUINE ACTIVITIES AT, OR IN ANY WAY RELATED TO, THE AUCTION, AND YOU KNOWINGLY AND WILLING RELEASE AND FOREVER DISCHARGE MHC AND SELLER FROM ANY AND ALL LIABILITY WHATSOEVER, AND YOU AGREE THAT YOU WILL INDEMNIFY MHC AND SELLER, AND HOLD THEM HARMLESS, FROM AND AGAINST ANY AND ALL CLAIMS, LOSSES, DAMAGES, HARM, AND/OR CAUSES OF ACTION ARISING FROM, OR ASSOCIATED IN ANY WAY WITH, THE AUCTION, OR IN ANY WAY RELATED TO ANY HORSE(S) OR LIVESTOCK IN THE AUCTION.
9. ONLINE AUCTION. In addition to all other terms and conditions set forth in these Seller Terms and Conditions, the following terms and conditions apply to any online Auction held by MHC:
9.1. ACCESS TO ONLINE AUCTION PLATFORM AND MHC WEBSITE. YOU assume all risks in connection with YOUR use or access to of any Online Auction Platform utilized by MHC and the MHC Website, and YOU waive any and all claims and/or causes of against MHC arising in connection with, arising from, or in any way related to YOUR use or access to of any Online Auction Platform utilized by MHC and the MHC Website.
9.2. POSTED TIMES. Unless stated otherwise, all posted or listed times are intended to reference the local time zone of MHC, Central Time Zone. Posted closing times and time displays are approximate. MHC reserves the right, in MHC’s sole and absolute discretion, to close early, extend, reset, or reopen the Auction (including bidding on any Lot(s)).
9.3. TECHNOLOGY DISRUPTIONS. YOU acknowledge and agree that the Auction is conducted electronically and relies on hardware, software, and the internet that may malfunction without warning. MHC will not be responsible for, and shall not be liable for, technology disruptions, errors, or failures (including disruptions to bidding or the failure to execute, recognize, or record online bids), whether caused by (i) loss of connectivity, breakdown, disruption, or failure of the Online Auction Platform(s), (ii) breakdown, disruption, or failure of a Bidder’s internet connection, computer, or system, iii) breakdown, disruption, or failure of MHC’s internet connection, the MCH Website, computer or system, act of God or otherwise. MHC may, in its sole discretion, continue, suspend, delay, extend, reschedule, or close the Auction because of disruptions caused by technology failures, or other reasons even after bidding has commenced.
9.4. FAILURES BY ONLINE AUCTION PLATFORM PROVIDER AND ITS AFFILIATES OR CONTRACTORS. Under no circumstances will MHC be liable for any failure of the Online Auction Platform Provider(s) to perform, or for the failure of any affiliates, employees, agents, representatives, or contractors of the Online Auction Platform Provider(s) to perform regardless of whether such obligations are owing, directly or indirectly, to MHC, to Buyer, to Seller, or otherwise.
9.5. DISCLAIMER. THE ONLINE AUCTION PLATFORM(S) AND MHC’S WEBSITE ARE PROVIDED ON AN “AS IS” BASIS WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF TITLE, NONINFRINGEMENT, OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. MHC MAKES NO REPRESENTATIONS, WARRANTIES, OR GUARANTEES, AND DISCLAIMS ANY REPRESENTATIONS, WARRANTIES, OR GUARANTEES, (i) THAT THE ONLINE AUCTION PLATFORM(S), THE MHC WEBSITE, OR ANY RELATED WEBSITE OR TECHNOLOGY WILL BE UNINTERRUPTED, ERROR FREE OR VIRUS FREE, (ii) AS TO THE RESULTS THAT MAY BE OBTAINED BY USING THE ONLINE AUCTION PLATFORM, THE MHC WEBSITE, OR ANY RELATED WEBSITE OR TECHNOLOGY, OR (iii) AS TO THE ACCURACY, COMPLETENESS, RELIABILITY, SECURITY, OR CURRENT NATURE OF THE ONLINE AUCTION PLATFORM, THE MHC WEBSITE, OR ANY RELATED WEBSITE TECHNOLOGY. IF YOU ARE DISSATISFIED WITH THE AUCTION, OR THE NATURE, CHARACTER, OR FUNCTIONALITY OF TECHNOLOGY ASSOCIATED WITH THE AUCTION, YOUR SOLE AND EXCLUSIVE RECOURSE IS TO IMMEDIATELY DISCONTINUE YOUR PARTICIPATION IN THE AUCTION. MHC RESERVES THE RIGHT TO TERMINATE YOUR BIDDER REGISTRATION, TO SUSPEND OR TERMINATE YOUR ACCESS TO THE AUCTION, TO IMPOSE LIMITS OR MAKE CHANGES TO CERTAIN FEATURES OF THE ONLINE AUCTION PLATFORM, AND/OR LIMIT, RESTRICT, OR TERMINATE YOUR ACCESS TO THE MHC’S WEBSITE OR TO THE AUCTION WITHOUT NOTICE.
9.6. RESTRICTIONS ON USE. YOU agree that YOU will not use any robot, spider, other automatic device, or manual process to monitor or copy the Online Auction Platform(s), MHC’s Website, any technology associated with the Auction, and/or any content associated with the Auction. YOU agree that YOU will not use any device, software, code, instructions, or routine to interfere with, or to attempt to interfere with, the proper functioning of the Online Auction Platform(s), MHC’s website, any technology associated with the Auction, or any activity being conducted in connection with the Auction including but not limited to, any viruses, malicious code, spyware, or vulnerabilities that could harm the Online Auction Platform(s), MHC’s Website, or any technology associated with the Auction. YOU agree that YOU will not take any action that imposes an unreasonable or disproportionately large load on the Online Auction Platform(s) and/or MHC’s website and/or online infrastructure. YOU agree that YOU will not copy, reproduce, alter, modify, create derivative works, or publicly display any content from the Online Auction Platform(s) and/or MHC’s website. Access and use of any Online Auction Platform is subject to any and all terms and conditions of the Online Auction Platform Provider(s).
10. NOMINATIONS. All horses must be nominated and approved by MHC for consignment. Complete list of nomination guidelines can be found on the MHC Website. MHC will review all nominations that have been submitted and will contact the Seller to inform them if they have been approved. MHC reserves the right to accept or reject any horse or consignor based on MHC’s discretion. MHC will notify Sellers via text, phone or email to inform them if their horse has been approved or denied. If nomination is approved, Seller will be sent instructions to finalize nomination and pay $250.00 consignment fee.
11. PAYMENTS TO MHC: Monies due and owing to MHC will be paid, as follows:
11.1. CONSIGNMENT FEE. Seller shall pay MHC a nonrefundable consignment fee of $250.00 for each Horse placed in online auction. This fee shall be paid upon approval of horse nomination. Consignment Fees are non-refundable and are independent of Commission Fees.
11.2. COMMISSION AND FEES. MHC will email Seller the Commission invoice. Seller commission fees due equal to 10% of purchase price or reserve price, whichever is greater, by 4pm Central Time the Wednesday following auction closing if reserve price is met and/or horse is sold. MHC shall receive a late charge of $110.00 for each additional day payment is not received. Any commissions or fees may be paid via Credit Card (subject to a 3% surcharge), electronic check, wire transfer, Venmo, or PayPal (if not sent via Friends and Family, additional fees shall apply). In addition to reimbursable costs and expenses, MHC is entitled to MHC’s Commission for all horses sold at the Auction. Should Seller default on Seller’s obligations to any Buyer, Seller will pay MHC an amount equal to MHC’s Commission plus any Buyer’s Premium, costs, late charges, legal fees, and expenses.
12. PRIVATE SALE. YOU agree not to enter, or to agree to enter into, a Private Sale of any Lot(s) included, or scheduled to be included in, the Auction, prior to or during the Auction. If YOU sell any Lot(s) included in, or scheduled to be included in, the Auction in a Private Sale prior to the auction, Seller shall pay MHC a five thousand ($5,000.00) fee for each horse sold and Seller shall further be responsible to pay MHC ten percent (10%) of the purchase price as a Commission fee. As to any Lot which did not meet their respective reserve prices but are sold within 60 days of close of auction, Seller shall pay MHC the 10% commission based upon the sales price. It is the Sellers responsibility to inform MHC of any private transactions.
13. WITHDRAWAL OF LOT(S) BY MHC. Unless a specific Lot is, in express and explicit written terms, exposed for sale at Absolute Auction, MHC has the right to withdraw any Lot from the Auction prior to the Fall of the Hammer.
14. RETURNED CHECKS. Any checks that are returned unpaid will be subject to a returned check fee in the amount of one Hundred Dollars ($100.00). In addition to the foregoing, MHC will be entitled to recover all other damages due under this Contract and recover from the issuer of a returned check, all costs, and expenses, including attorneys’ fees, for the collection of payment made in the form of a check that has been returned unpaid.
15. NO STOP PAYMENT ORDERS OR CREDIT CARD CHARGEBACKS. YOU agree that YOU will not, under any circumstances, (i) issue a stop payment order with respect to any checks issued at or in connection with the Auction, or (ii) initiate a credit card chargeback with respect to any purchases through the Auction. YOU further agree that if, in violation of these Terms and Conditions, a stop payment order is issued or a credit card chargeback is initiated, these Seller Terms and Conditions will be conclusive evidence of YOUR (i) waiver of any rights to issue a stop payment order or to initiate a credit card chargeback, and (ii) agreement not to issue a stop payment order or to initiate a credit card chargeback; and YOU acknowledge and agree that on MHC’s presentation of these Seller Terms and Conditions to the bank, credit card company, or other financial institution against which a check was drawn or that issued the credit card on which charges were made, such bank, credit card company, or other financial institution will reverse any stop-payment order and/or reverse or deny any credit card chargeback, and will re-credit all amounts to or for the account of MHC. If, in violation of these Seller Terms and Conditions, YOU issue a stop payment order or initiate a credit card chargeback, YOU will remain liable for all monies owed under this Contract, and YOU will be responsible for all costs and expenses, including attorneys’ fees, incurred by or on behalf of MHC in challenging the stop payment order or credit card chargeback and/or in collecting payment.
16. AUCTION DATES AND NOMINATION DEADLINES. MHC will offer monthly online auctions. Consigned horses will be listed and advertised for a minimum of two weeks; however, active bidding will only be open for 8 hours beginning at 9am (Central time) and closing 5pm (Central time) on the last day of the auction with a Racehorse Style closing. See sale schedule on MyHorseConnection.com to view sale dates and nomination deadlines.
17. RACEHORSE STYLE CLOSING AND AUTOMATIC EXTENSION FEATURE. All Auctions will include an auto-extend, racehorse style closing. With this feature, ALL Lots will be set to close at the same time. However, bidding on all Lots will remain open if there has been at least one bid placed on ANY of the Lots within the last 3 minutes of the auction. Once 3 minutes has lapsed without any bidding on any Lots, the bidding on all Lots will close simultaneously. If a bid is placed on any Lot within the last 3 minutes of the auction, the clock will reset to 3 minutes on ALL Lots, even if the original ending time has been reached. Extended bidding means this will continue, and the auction is not declared closed until there have been 3 minutes passed with no bids placed on ANY Lot.
18. BID INCREMENTS, MINIMUM BIDS. Bid increments are established and controlled by MHC and may be adjusted or modified in MHC’s sole and absolute discretion. MHC may establish a minimum bid on any or all lots, and if the minimum bid is not tendered, the Lot will be passed. A minimum bid is not, typically, the Reserve Price. The tendering of the minimum bid on a Lot does not mean that the Lot will be sold, and the Lot may still be Withdrawn or passed by MHC.
- $0 – $10,000.00 = $500.00 bid increments
- $10,000.00 + = $250.00 bid increments
19. ABSENTEE BIDS; REMOTE BIDDING. In MHC’s discretion, MHC may receive Absentee Bids and/or bids tendered by remote Bidders (whether telephonically or otherwise). Absentee Bids may be initiated at an amount less than the Absentee Bidder’s maximum bid amount (typically a percentage of the maximum bid amount) and will be executed competitively up to (i) the Fall of the Hammer (or other termination of the bidding) or (ii) the Absentee Bidder’s maximum bid amount, whichever occurs first. MHC will make reasonable efforts to execute Absentee Bids but will have no liability for the failure to execute any Absentee Bids for any reason whatsoever. The receipt and execution of Absentee Bids will not create an agency relationship between MHC and any Absentee Bidder
20. BIDDING BY OR ON BEHALF OF SELLER. Seller reserves the right to bid at the Auction. Seller, or those acting on Seller’s behalf, may bid on any Lot(s) with the exception of Lot(s) expressly and explicitly identified, in writing, as being exposed for sale at an Absolute Auction that is not a forced sale. MHC may execute bids on Seller’s behalf. MHC is not required to identify any bid(s) executed on Seller’s behalf as having been executed on Seller’s behalf. Bids executed on Seller’s behalf are not required to be identified to a specific, or single, Bidder Number or Bidder Account and may be executed through more than one Bidder Numbers or Bidder Accounts. MHC is not required to disclose the existence or amount of any Reserve Price.
21. SELLER’S REPRESENTATIONS AND WARRANTIES. Seller represents and warrants, as follows:
21.1. SELLER’S AUTHORITY. Seller has the legal authority to enter into and perform under this Contract, and is otherwise competent to enter into and perform under this Contract.
21.2. GOOD TITLE; ENCUMBRANCES. Seller (i) owns the horse(s) in fee simple absolute, or (ii) is legally authorized to sell or make other disposition of the horse(s) free from any liens and encumbrances other than those liens and encumbrances identified by Seller in writing to MHC not less than (10) days prior to the Auction. Such notice shall include detailed information as to the lienholders name, contact information, release amount, and any other information requested by MHC.
21.3. CERTIFICATES AND REGISTRATION. Seller warrants that all registration certificates, applications, transfers, breeding reports, and other information and materials provided by Seller to MHC are accurate and correct in all respects. Seller agrees to have original registration papers (if applicable) with signed transfer ready to send with animal to the new Buyer upon pick-up. Any and all statements of pedigree and/or registration are statements by the Seller and have not been independently verified by MHC. It is the responsibility of the prospective Buyer to confirm any pedigree and/or registration.
21.4. DESCRIPTIONS AND DISCLOSURES. Seller warrants that Seller has provided MHC a true, accurate, and complete description of the horse(s), including condition, training, and other history, including, without being limited to: (i) whether a horse is a cribber or weaver; (ii) is unsound in any way; (iii) has had major surgery or a serious illness; (iv) has been nerved; (v) is lame; (vi) has been diagnosed with navicular disorder, ringbone, sidebone, osteoarthritis, founder, bone abnormality, or neurological disorder. Sellers agrees to disclose any and all blemishes, scars, bumps, sores, chewed tails, cosmetic defects, and/or abnormal behaviors/habits that may be present. Pregnancy must be disclosed by Seller.
21.5. VACCINES, WORMING, MAINTENANCE, AND MEDICAL CONDITION. Each horse is current on vaccines and has been dewormed. Seller has accurately disclosed to MHC all maintenance on injections, as well as any other medical conditions.
21.6. VETERINARY RECORDS; RADIOGRAPHS; COGGINS; INDEPENDENT VETERINARY EXAM. The Seller of a Lot shall make veterinary records available for inspection and shall also provide veterinarian contact information. Veterinary records may include the opinions of a veterinarian. MHC does not guarantee the accuracy or completeness of veterinary opinions. Lot descriptions will indicate whether veterinary records have been uploaded to a repository. MHC may review veterinary records and/or any repository entries but does not guarantee or express any opinion as to the accuracy or completeness of such records. It is the Buyers responsibility to confirm veterinary records and/or to commission a veterinary examination and/or x-rays PRIOR to the Auction closing with respect to any conditions that are materially important to the Buyer. MHC requires the Seller inform acceptable to MHC provide proof of current Negative Coggins and a thorough veterinary examination by a licensed Veterinarian completed within 30 days prior to the date of this Contract. Although recommended, Sellers are not required to provide a complete pre-purchase examination. Prospective Buyers have the right to arrange a complete pre-purchase examination by a licensed veterinarian (which may include radiographs, bloodwork, etc.), at Buyers expense prior to sale date. Buyer must contact Seller to arrange pre-purchase examination. There will be no post-purchase veterinary examinations accepted by MHC. All horses sell “As Is” “Where Is” with no express or implied warranty by MHC.
21.7. NO INDUCEMENT BASED ON STATEMENTS OR OPINIONS OF VALUE. Seller has not been induced to enter into this Contract by any statements or opinions of MHC regarding the value of the horse(s) or the possible results of the Auction. Seller irrevocably authorizes any lien upon a lot from the sales proceeds due Seller.
22. SELLERS OBLIGATIONS. Seller acknowledges, covenants, and agrees:
22.1. GOOD TITLE. Seller will deliver good title to the horse(s) free and clear of any and all liens and encumbrances.
22.2. NO WITHDRAWAL OF HORSE(S). During the periods covered by this Contract, Seller will not Withdraw, sell, or attempt to sell the Lots without MHC’s prior written consent. Any removed listings due to illness or injury without a veterinary release explaining withdrawal reason, in addition to video footage of reason, will result in the payment of a $500.00 fee to MHC and Seller will be banned from MHC.
22.3. INSPECTION. Seller will make the horse(s) available for inspection by Bidders.
23. MHC MAKES NO REPRESENTATIONS, WARRANTIES, OR GUARANTEES WHATSOEVER, EXPRESS OR IMPLIED, REGARDING THE NATURE, VALUE, SOURCE, AUTHENTICITY, FITNESS, MERCHANTABILITY, AND/OR ANY OTHER ASPECT OR CHARACTERISTICS (INCLUDING SOUNDNESS AND HEALTH) OF A LOT. NO STATEMENT ANYWHERE, WHETHER EXPRESS OR IMPLIED, INCLUDING VERBAL STATEMENTS MADE BY MHC, WILL BE DEEMED A WARRANTY OR REPRESENTATION BY MHC. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THERE ARE NO WARRANTIES OF AUTHENTICITY, ORIGIN, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, ALL OF WHICH ARE EXPRESSLY DISCLAIMED. YOU ARE ASSUMING ANY AND ALL RISKS ASSOCIATED WITH SELLING OF YOUR LOT(S). THIS “AS IS” DISCLAIMER APPLIES PRE- AUCTION, POST-AUCTION, AND DURING THE AUCTION.
24. DESCRIPTIONS. UNLESS OTHERWISE EXPRESSLY STATED OTHERWISE IN WRITING, ANY DESCRIPTION OF A LOT IS BASED SOLELY ON VISUAL IMPRESSION, AND IS GIVEN SOLELY FOR IDENTIFICATION PURPOSES, AND DOES NOT CREATE ANY WARRANTY, EXPRESSED OR IMPLIED, OR REPRESENTATION BY MHC. Lots are offered with information provided by the Seller. The Seller is solely responsible of the accuracy and completeness of all descriptions. MHC has no duty to inspect any Lot consigned for sale at the Auction or to investigate the accuracy of any descriptions or representations given by a Seller. The Seller is responsible for correcting any errors in description or otherwise (whether given orally or in writing). Under no circumstances will MHC be liable to Buyer based for any inaccuracy in the description of any Lot.
25. ALL SALES FINAL. ALL SALES ARE FINAL. Once a Lot is purchased the Lot may not be returned nor any portion of the purchase price refunded.
26. LIMITATION OF LIABILITY. MHC is not responsible for any actions of Seller or others, including Bidders or Buyers, taken before, during, and after the Auction. MHC will not be held liable for typographical errors, misprints, loss of merchandise/money, damage or failure of equipment, at the Lot Location, or otherwise related to the Auction.
27. ANNOUNCEMENTS. Subject to the limitation set forth in these Sellers Terms and Conditions, all terms and conditions and other announcements made by MHC on the Online Platform through the day of the Auction are binding and take precedence over any advertisements or listings.
28. RELEASE OF HORSE AND REGISTRATION PAPERS. No Lot or registration papers shall be released to Buyer until Buyer has made full payment and funds have cleared or been verified.
29. PAYMENT FOR LOT(S) SOLD. Seller will receive payment directly from Buyer for horse(s) sold. MHC is a pass-through agency and does not hold or collect funds for guarantees, returns, or refunds of monies paid on horses purchased through MHC from Seller. Buyer is responsible to send Seller deposit, 10% of purchase price within 2 hours of lot closing. We require Buyer to send deposit via cash, credit card (additional fees may apply), PayPal (if not sent via Friends and Family, additional fees may apply), Venmo, or any other method pre-approved by the Seller. The remaining amount due is required to be paid in FULL to Seller the following business day by the close of the Sellers financial institution (Time zone of the Seller) via wire transfer, cash, approved check, or credit card (fees may apply). MHC will contact Seller after close of auction to give them Buyers contact information. Seller is required to contact Buyer immediately following Auction. Seller will then provide deposit and wiring instructions to Buyer. MHC will email invoice to both Buyer and Seller with accurate purchase price to be paid to Seller.
30. PICK-UP AND REMOVAL; TRANSPORTATION; INSURANCE. It is the Buyer responsibility to arrange and pay for shipping of any Lot. MHC recommends all Buyers purchase equine insurance at time horse is purchased. MHC recommends all potential Buyers set up account with insurance company prior to purchase. See equine insurance recommendations and transportation recommendations on the MHC website. Buyer understands the Seller is not responsible for any injuries or illness the horse may incur from the time of sale to arriving at the Buyers location. The Seller is required to care for horse, free of charge, for a minimum of 14 days for transportation to be arranged and horse picked up. After the initial 14-day period, Seller reserves the right to charge a daily boarding fee. It is the Buyers responsibility to contact Seller and arrange transportation. All horses sold through MHC are required to have a current Negative Coggins. Responsibility of all health certificates and/or brand inspections required for transportation after close of the auction is solely between the Buyer and Seller.
31. WARRANTIES. If horse is rejected by the Buyer due to Sellers misrepresentation of horse at time of sale, Seller will still be subject to the ten percent (10%) of purchase price commission fee. Any claims of misrepresentation must be provided by the Buyer and will be reviewed by MHC for legitimacy. MHC holds no responsibility for any transactions or guarantee between the Buyer and Seller.
32. AUDIO AND VIDEO RECORDING; PHOTOGRAPHS. The Auction Site may be subject to security surveillance, including video, audio, and photographic recording. Video, audio, and photographic recording may also be taken by MHC and used on MHC’s website, or, otherwise, in advertising and/or for other commercial purposes. YOU further agree that MHC may use any such images or recordings in advertising and/or for other commercial purposes on a royalty-free basis with no further consideration or remuneration to YOU.
33. RISK OF THEFT, DAMAGE, INJURY, OR DESTRUCTION. MHC will not be liable for theft, damage, injury, or destruction of the horse(s) prior to, during, or after the Auction.
34. SELLER INTERFERENCE OR BREACH. If any horse is not sold due to Seller’s interference or other breach of this Agreement, such event will not be treated as a No Sale and Seller will pay MHC an amount equal to MHC’s Commission and Buyer’s Premium (calculated as a percentage of the fair market value or the Reserve Price, whichever is greater), plus costs attorney fees and expenses.
35. MHC’S RIGHT OF SET-OFF. MHC may apply any proceeds from the Auction against any outstanding amounts due and owing to MHC from Seller.
36. AUCTION PRICES; FAIR MARKET VALUE. Seller understands, acknowledges, and agrees that: (i) MHC has made no representations, promises, or warranties as to the amounts that may be bid for the horse(s), or any of it, at the Auction; and (ii) the Hammer Price establishes the fair market value for each horse as of the time, date, and location of the Auction.
37. INDEMNIFICATION. Seller will indemnify and defend MHC, and hold MHC harmless, from and against any and all claims or damages arising from the Auction or in any way related to the horse(s) including condition or injuries to third-parties.
38. GOVERNING LAW; JURISDICTION; VENUE; WAIVER OF JURY TRIAL. This Contract will be governed by and construed in accordance with the laws of the State of Alabama, including its statutes of limitations, but without regard to its rules governing conflict of laws. All claims, disputes, and other matters between the parties will be brought in the state or federal courts sitting in and for Tuscaloosa County, Alabama, which courts will have exclusive jurisdiction, and will be the exclusive venue, for any and all such claims, disputes, and other matters between the parties. SELLER WAIVES THE RIGHT TO TRIAL BY JURY.
39. ATTORNEYS’ FEES. Should MHC engage an attorney to enforce the Contract, Seller will pay all of MHC’s costs, expenses, and attorneys’ fees.
40. ACCEPTANCE OF SELLER TERMS AND CONDITIONS. YOU acknowledge and agree that YOU have had a full and fair opportunity to review these Seller Terms and Conditions, and that YOU have read these Seller Terms and Conditions, YOU understand these Seller Terms and Conditions, and YOU accept and agree to be bound by these Seller Terms and Conditions. Any judgment entered by a court in favor of MHC due to defendant by Seller shall bear interest at 12% per annum.
