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TERMS AND CONDITIONS OF BIDDING

Important

These Terms and Conditions apply to all online bidding at auction sales (“Bidding Event”) conducted by Malta Property Auctioneers Ltd. (MPA). By registering to participate in the MPA Bidding Event via online registration, you expressly agree to these Terms and Conditions.

In addition, use of the MPA Bidding Event service is at all times subject to the MPA Terms of Use of the website.

1. Registration
  1. Before you can bid on our online Bidding Event, you must register as Bidder. The registration page can be accessed by clicking here. Please note that you must be registered at least 48hours prior to the start of any Bidding Event or you may not be able to bid on that particular event.
  2. Once you have registered you should keep your account details strictly confidential and you must not permit any third party to use or access your account on your behalf or otherwise. You will be responsible for any and all bids made from your account.
  3. Should you wish to bid on more than one property, you will need to register individually on each property page to bid on.
2. Online Bidding Process
  1. Once you have successfully registered as Bidder, you will be eligible to bid on any chosen property. You will also see all current bids.
  2. During the Bidding Event, you can bid for a lot by clicking the BID NOW button.
  3. You acknowledge that you are bidding in a live bidding event and you agree that each bid submitted as provided in these Terms and Conditions is irrevocable and cannot be amended or corrected, even if submitted in error and notified to us. You accept full responsibility for all bids submitted via your online bidding account (including the liability to pay in full and on time in accordance with the bidding conditions for any lot that is the subject of a successful bid submitted from your account).
  4. Once you have been successful in your bidding, you will be immediately notified by MPA by email and/or a call, and you may check the results that are published by MPA on the property page.
3. Buyer’s obligations
    1. You understand and agree that registering to bid the €10,000 deposit will be held on your credit card once your first bid is placed. If your bid is not the winning one, this deposit will be released back to you within 7 days after the bidding event closes. If your bid wins, this deposit will be withdrawn from your credit card.
    2. You understand and agree that when your bid is successfully won, you agree to sign a Promise of Sale (POS) within 48 hours from the closing of the event.
    3. You understand and agree that upon the signing of the POS a deposit of not less than 10% of the Selling Price less the €10,000 of your withdrawn deposit will be paid by you. This deposit will be retained by the Notary and given to the Seller, less the commission due and without interest on the signing of the Final Deed of Sale, this notwithstanding the provisions of Clause 7 of Chapter 342 of the Laws of Malta.
    4. You understand and agree that if after having won the bidding, you resign from signing the POS, or upon signing the POS you refuse to sign the Final Deed of Sale, your deposit paid will not be returned to you.
    5. You understand and agree that if before signing the POS, the seller refutes the sale of the property you successfully bid on, your deposit of €10,000 will be released back to you. If the seller refutes the sale after the POS has been signed,
4. Data Protection
    1. We treat all data held securely and with respect, and according to the GDPR rules. All data held is only used by MPA and is never passed to any third parties.
    2. In order to become a Bidder at the MPA bidding event, a user must be registered on our database system as Bidder. The data is password protected and securely held. Without registration as Bidder, a user is not able to bid.
    3. Data held includes Bidder’s name, address, phone number and email address.
    4. During the bidding event, all current bids placed by bidders are shown with a reference number only, without any information about the bidders.
    5. MPA uses mySQL database software to manage buyer’s data and transactions. The database is password protected and securely held.
    6. MPA does not store payment data. All online bidding transactions are processed by https://stripe.com/en-mt. Bidders bidding on MPA Bidding Events pay only by credit/debit card. Our card processing services are provided by https://stripe.com/en-mt.
5. Use of the Online Bidding Service and Limitations Of MPA Liability
    1. Lots are available for viewing prior to any Bidding Event, and You are strongly advised to view in person any lot on which you may bid and read all associated documentation describing the lot.
    2. A currency conversion tool is provided on the Bidding Event screen to enable estimates for lots and the final purchase price to be displayed in certain currencies. The currency conversion tool is provided for your convenience only and is an approximate guide to the equivalent amount in the specified currencies. You are therefore advised to conduct your own research into the applicable exchange rates prior to placing a bid. Please note that the bidding is conducted, and all bids must be made, in EUR and all bidding increments will be in that currency only. Payment for any lot that is the subject of a successful bid must also be made in EUR. We do not accept any responsibility for any errors that may occur as a consequence of reliance upon the currency conversion tool.
    3. Access to the Bidding Event is made available as a convenience and on a temporary basis, and we reserve the right to suspend or terminate any aspect or feature of the Bidding Event service at any time, with or without notice. Without limiting the foregoing, we may suspend access to the Bidding Event to carry out scheduled or unscheduled maintenance or for any other reason at any time.
    4. MPA AND ITS SUPPLIERS PROVIDE THE ONLINE BIDDING SERVICE AND THE MPA WEB SITE “AS IS” AND WITHOUT ANY WARRANTY OR CONDITION, EXPRESS, IMPLIED OR STATUTORY. WITHOUT LIMITING THE FOREGOING, WE ACCEPT NO LIABILITY FOR ANY FAILURES, DELAYS OR ERRORS CAUSED BY INTERRUPTIONS IN THE AVAILABILITY OF THE ONLINE BIDDING SERVICE OR OUR WEB SITE OR ANY ERRORS OR DEFECTS IN THEIR CONTENT OR FUNCTIONALITY, ANY SOFTWARE AND/OR HARDWARE DEFECTS (WHETHER YOURS OR OURS) AND/OR ANY INTERNET CONNECTION PROBLEMS (WHETHER YOURS OR OURS), AND WE DO NOT REPRESENT OR WARRANT THAT THE ONLINE BIDDING SERVICE OR THE WEB SITE WILL BE ERROR-FREE, FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS, OR THAT ANY DEFECTS WILL BE CORRECTED. MPA SHALL ASSUME NO LIABILITY FOR ANY ERROR OR ISSUE IN THE SERVICE ARISING FROM A FAILURE, WHETHER TECHNICAL OR OTHERWISE, ARISING FROM ITS PAYMENT PROVIDER/GATEWAY.
6.Changes to These Terms and Conditions
    We may from time to time make changes to these Terms and Conditions. Any changes will be posted on our website at www.maltapropertyauctioneers.com. Please review these terms and conditions regularly to ensure that you are aware of any changes made by us. If you bid on our online Bidding Event after changes have been made and posted, you shall be deemed to have agreed to such changes. If you do not agree to such changes, you should not make any subsequent use of the Online Bidding Event service.
7. Governing Law, etc.
    These MPA Online Bidding Event Terms and Conditions shall be governed by and construed in accordance with, the laws of the Republic of Malta.

First Bid Hold Confirmation

Since this is your first time bidding on this Bidding Event, we need your authorization to hold €10,000 from your bank account. After the hold has been approved, you will be allowed to participate in this property Bidding Event.

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