Regulations

Regulations

I. General Provisions

1. In these Regulations terms are used in the following meanings:

Electronic auctions administrator - a company that carries out activities on System software maintenance, technology support, storage and protection of data contained in the System, technical organization and conducting electronic auctions.

Electronic auctions website (hereinafter the Website) - online resource www.habid.com, which is part of the electronic auction system (hereinafter the System), which contains organizational and methodological materials, information messages on electronic auctions and their results. The website also provides registration of participants, submitting applications for participation in electronic auctions, provides access of electronic auctions observers and holding of electronic auctions.

The Website operates 24/7 and is available to all Internet users.

By using means of the System several electronic auctions may be held simultaneously through the Website.

Type of electronic auction – one of the electronic auction types selected by the Seller when forming the Auction Announcement, namely:

Auction on a certain day – electronic auction, which starts on the day specified in the Auction Announcement and is held during one working day from 10:00 to 18:00 Moscow time.

Auction with set (fixed) prices - electronic auction with the buyout price, which is held during thirty (30) calendar days, starting from the day following the day of publication of the Auction announcement, to 18:00 Kyiv time of the last day of the auction.

Commission trade - commission trade carried out by means of the System in accordance with these Regulations in order to sell property that was transferred by the Seller for the performance of Commission Agreements concluded with the Organizer of electronic auctions.

Trading through the online store – economic activity in the field of electronic sales and purchases, selling of products remotely to the buyer by making electronic transactions using means of the Website, which is carried out by certain Sellers or the Organizer under the terms of the Law of Ukraine "On electronic commerce".

Remuneration of the Organizer of electronic auctions - monetary remuneration of the Organizer of electronic auctions, which is set as a percentage of the sale price of the lot.

Guarantee Deposit - amount of money which, if necessary, is paid by a natural or legal person, who is a participant of the electronic auction, to the account of the Organizer, the size of which is determined based on the starting price of the lot and the sum of remuneration for the Organizer for rendered services; in cases established by an agreement concluded with the Organizer by Sellers and Participants, as well as by these Regulations. The specified amount shall be used by the Organizer as a down payment or one of the ways of securing performance of obligations according to Article 546, Part 2 of the Civil Code of Ukraine.

Agreements with the Organizer - accession agreements of various kinds, to the terms of which Sellers and Participants accede by registering on the Website in accordance with these Regulations.

Identification document – a national passport or a document substituting it.

Electronic auction – an auction, commission trade, or trading via the online store, carried out by means of the System in accordance with these Regulations in order to sell the property or to determine the biggest value of offered or sold property.

Depositary – an enterprise that is authorized on the Website and takes measures to preserve property sold or offered on electronic auctions.

Increment of the electronic auction – a fixed increase of starting lot price and each subsequent lot price during the auction, established by the Organizer of electronic auctions. Increment of electronic auctions is 5% of the starting price if the property value ranges from UAH 1 to UAH 10,000.00 inclusive; 3% of the starting price if the property value ranges from UAH 10,000.01 to UAH 100,000.00 inclusive; 2% of the starting price if the property value ranges from UAH 100,000.01 to UAH 1,000,000.00 inclusive; 1% of the starting price if the property value is UAH 1,000,000.01 or more.

Lot – a unit of property put up for sale on an electronic auction.

Sold property – property (other than vehicles, real estate and other property, the agreement on purchase and sale of which is subject to notarization and/or state registration) which is sold based on Announcements of Sellers, which are legal entities, and/or through an online store, payment for which is performed to the account of the Organizer.

Offered property – property (other than vehicles, real estate and other property, the agreement on purchase and sale of which is subject to notarization and/or state registration) which is offered based on Announcements of Sellers, which are legal entities, and/or through the Online Store, payment for which is performed to the account of the Organizer.

Auction Announcement – an announcement of holding the electronic auction submitted by the Seller in accordance with these Regulations.

Organizer – an enterprise that performs activities on organizing and holding electronic auctions, namely sale of property on its behalf on the basis of commission agreements with Sellers on behalf of and at the cost of relevant Sellers; concluding other transactions associated with the organization of the sale of the property; performing other functions provided by these Regulations.

Personal Cabinet – a section of the Website, access to which is restricted to registered participants who are authorized using personal identifiers of access to the Personal Cabinet (hereinafter login and password or electronic digital signature), which contains information notifications on electronic auctions and their results, other information about electronic auctions in which he/she participate, which is used for submitting applications for participating in electronic auctions, trading session of electronic actions are held, materials necessary for the participant are printed.

Buyer – participant of an electronic auction, which under the terms of this Regulation paid all due amount of money or signed a sale contract.

Buyout price – price bid to purchase a lot before the auction, which is used during the auctions with set (fixed) prices

Seller – a natural person or an authorized representative of a legal entity, who submitted an Auction Announcement (through the Website using means of the System according to requirements of these Regulations.

Lot registration number – lot number that is generated automatically by the System when posting an Auction announcement.

System - electronic information system which ensures performance of processes of electronic receiving and posting information about lots, submission and processing of applications for participation in electronic auctions, holding electronic auctions on selling Property, processing information on electronic auctions.

Habid support service – division of the Organizer, employees of which directly perform information and advisory support of holding electronic auctions.

Observer of the electronic auctions – any Internet user who observes holding electronic auctions free of charge through the Website without the possibility to submit his/her bids;

Starting price of the lot – initial price of lot sale, which is indicated by the Seller in the Auction announcement.

Acceptance agreement – a transaction that is both an accession treaty concluded between the Organizer and the winner of the electronic auction of the offered property, according to which the offer of the Organizers is accepted.

Participant of an electronic auction (hereinafter the Participant) – a natural person who has full legal capacity or its duly authorized representative, a legal entity in the person of a representative authorized to act on behalf of that legal entity, which applied to participate in the electronic auction through the Website using means of the System, paid the guarantee deposit (if necessary), and was allowed by the Organizer to participate in the electronic auction in accordance with these Regulations.

Selling price of the lot – the actual selling price of the lot in electronic auction.

Other terms in this Regulation shall have the meanings set out in the legislation of Ukraine.

II. Procedure of Sellers registration.

2.1. Website operates in 24/7 mode and provides the possibility of continuous registration of Auction Announcements of Sellers.

2.2. The Seller performs the process of registration on the Website.

2.3. In order to register through the Website, the Seller provides the following information:

1) For a natural person:

  • Surname, name and patronymic;

  • E-mail for messages from the System and the Organizer;

  • Contact telephone number;

  • Electronic Digital Signature (EDS) certificate (optional);

  • Scanned copy of the identification document;

  • Scanned copy of the identification number certification;

  • Details of the bank account for transferring payment for sold lots.

2) For an authorized representative of a legal entity (individual entrepreneur):

  • Name of the legal entity;

  • EDRPOU code;

  • Surname, name and patronymic (if any) of the representative of the legal entity;

  • E-mail address of the authorized person for messages from the Systems and the Organizer;

  • Scanned copy of an extract from the Unified State Register of Legal Entities and Individual Entrepreneurs;

  • Scanned copy of the value added tax payers registration document;

  • Scanned copy of the document confirming the authority of the representative of the legal entity (Power of Attorney, contract of agency, etc.).

  • Contact telephone number of the authorized person;

  • EDS certificate (optional);

  • Details of the bank account for transferring payment for sold lots.

3) For registration with the view to trading through the online store:

  • Full name of the legal entity or surname, name and patronymic of an individual entrepreneur;

  • Location of the legal entity or place of registration and place of residence of an individual entrepreneur;

  • E-mail address;

  • Identification number for the legal entity or registration number of the taxpayer's registration card for the individual entrepreneur, or passport number and series for the individual entrepreneur, who because of his/her religious beliefs refused to accept the registration number of the taxpayer's registration card and officially notified about this the appropriate body of the state tax service and has a mark in the passport;

  • License information (series, number, duration and date of issue) if the economic activity is subject to licensing;

  • Other information, which must be posted according to the legislation.

2.4. After accepting by the System of the application for registration, the Seller shall receive a notification about the registration on the Website sent to the indicated e-mail.

2.5. In case of change of any registration data of the Seller used when registering on the Website, the Seller shall notify the Organizer within 3 calendar days of the date of such change in writing.

2.6. The system ensures that each Seller has a Personal Cabinet, which is accessed using a login and password or, optionally, the digital signature of that person.

2.7. Seller has the right to participate in an electronic auction as a Participant.

2.8. Personal Cabinet displays information about electronic auctions in which the person participates, in accordance with his/her rights.

2.9. Submitting an application by the Seller means providing consent for processing of Seller's personal data. The Organiser shall be responsible for violating the law on personal data protection.

III. Procedure of submitting of Auction Announcements by the Sellers.

3.1. Auction Announcement shall be submitted electronically using the form available on the Website through the Private Cabinet of the Seller. Filling the application on the Website may be performed using means of the Organizer or the Depositary in case of a separate order of the Seller.

3.2. Auction Announcement shall contain the following information:

  • Type of auction, including the timeframe of its execution;

  • Information about the sold/offered property, its composition, characteristics, and description;

  • Information about location of sold/offered property;

  • Photographic images of sold/offered property;

  • Procedures for familiarization with sold/offered property;

  • Starting price of the lot;

  • Date of the auction, which is established by the system automatically based on the timeframe of the auction;

  • Possibility to provide a tax invoice to the winner;

  • Details of the accounts to which payments are made;

  • Buyout price (in the case of the auction with fixed prices);

  • Conditions of transferring/delivery of sold/offered property;

  • Information about the desire to transfer the property to storing by the Depositary.

3.3. If a vehicle is offered, the information about the property shall contain the following additional information:

  • Model

  • Year of manufacture;

  • Engine volume;

  • Fuel type;

  • Mileage;

  • Configuration;

  • Colour;

  • Additional information.

3.4. If a house, apartment or other residential premises are offered, the following additional information shall be specified:

  • Residential and non-residential area of the house, apartment, or other premises;

  • Location or address;

  • Established limitations (lease, easement, pledge, etc.);

  • Information about the land plot on which the building is located (its legal regime and size);

  • Number of floors of the building, floor on which the apartment or other premises are located;

  • Number of rooms, Area of each room;

  • Information about auxiliary, utility rooms and structures.

3.5. If non-residential premises are offered, the additional information about the property shall include the following:

  • Area;

  • Location;

  • Purpose of the facility;

  • Established limitations;

  • Information about the land plot on which the non-residential premises are located (its legal regime and size).

3.6. If a single (integral) property complex of an enterprise or its structural unit is offered, additional information about the property shall contain the following:

  • Scope and basic nomenclature of products (works, services), including export products;

  • Number and composition of workplaces;

  • Information about buildings (structures, premises) and the land on which the single (integral) property complex of the enterprise is located;

  • Additional information.

3.7. If the effective legislation of Ukraine provides concluding a transaction in writing and/or additional processing of the transaction, the Auction Announcement concerning offered property must contain draft sale and purchase agreement, proposed by the Seller, place and conditions of concluding the agreement with distribution of costs for due processing. The text of the proposed sale and purchase agreement may be amended only with the consent of the Winner of the electronic auction.

3.8. In the event of encumbrances of the Property, the Seller shall attach information about the encumbrance.

3.9. If the Seller offers a real estate object, vehicles, property worth more than UAH 10,000 (ten thousand hryvnyas), the application shall be supplemented with scanned title and shipping documents.

3.10. If there is a desire to transfer the Property for storage, the Seller shall fill an appropriate application using the form posted on the Website. By submitting this Application, the Seller accedes to the terms of the storage agreement posted on the Website.

After filling the application for storage, the System shall send the order to the Habid support service to agree with the Seller the place and cost of storage.

3.11. If there is a desire to make a formal assessment of the Property, the Seller shall fill an appropriate application using the form posted on the Website. By submitting this Application, the Seller accedes to the terms of the Property assessment agreement posted on the Website.

After filling the application for assessment, the System shall send the order to the Habid support service to agree with the Seller the conditions of Property assessment.

3.12. After the Seller forms the Auction Announcement, the Organizer shall pre-moderate such Announcement to verify completeness of information and its compliance with requirements defined herein.

During moderation, the Auction Announcement shall have "Draft" status. The Seller has the opportunity to see the list of Auction Announcements awaiting moderation, by selecting an appropriate section in the Personal Cabinet.

3.13. If the Auction Announcement was formed by the Seller with violation of the terms of these Regulations, the Organizer shall reject the publication of the announcement in the system, and shall send a corresponding message to the Personal Cabinet of the Seller.

3.14. The Seller can eliminate the non-compliance and resubmit the Auction Announcement.

3.15. If the Auction Announcement complies with requirements of these Regulations, the Organizer shall register the Auction Announcement and send a corresponding message to the Personal Cabinet.

Status of the Auction Announcement shall be changed from "Draft" to "Registration of participants". The Seller has the opportunity to see the list of Auction Announcements that have "Registration of participants" status by selecting an appropriate section in the Personal Cabinet.

3.16. If it is necessary to amend the Auction Announcement after the registration, the Seller shall immediately notify the Organizer about this.

3.17. The Seller shall bear full responsibility for reliability and completeness of information provided by the Seller in the Auction Announcement.

3.18. In prior to the date of electronic auction unreliability of information about the property specified in the Auction Announcement is detected; the Organizer has a right to cancel such Auction. In this case, the relevant message indicating the reason for the refusal shall be sent to the Personal Cabinet of the Seller and to the registered Participants.

Seller can eliminate the incompliance and resubmit the Auction Announcement according to the procedure established by these Regulations.

3.19. If unreliability of information about the property specified in the Auction Announcement was detected after holding of the electronic auction, the Winner of the electronic auction has the right to refuse such Property and return it within fourteen (14) calendar days of receiving the Property.

3.20. For the purposes of these Regulations, submitting the Seller's Auction Announcement with all the necessary data on property, its starting price and other essential terms of the future sale and purchase agreement shall be an offer of the Seller to conclude a contract (offer) according to Article 641 of the Civil Code of Ukraine and shall express the intention of the Seller to be obliged to sell the property if such offer is accepted by a respective buyer (winner of the electronic auction).

IV. Procedure for registration of participants of electronic auction

4.1. Website operates in 24/7 mode and provides the automatic possibility of continuous and unimpeded registration of Participants.

4.2. For the purpose of initial registration through the Website, the applicant shall provide the following information:

  • Name;

  • E-mail for sending System messages and messages of the Organizer, which will be the login of the participant in the future;

  • Contact phone number;

  • Password;

  • Promotional code (if any).

4.3. System ensures that each participant has a Personal Cabinet, which is accessed using the login and password of such person or using an electronic digital signature, if desired.

4.4. In order to participate in the electronic auction, a Participant shall perform the procedure of registration on the Website, submit an application for participation in the electronic auction for each lot separately using the form on the web-site, pay a guarantee deposit to the account of the Organizer (except cases of Commission trade and trading using the Online store) and fulfils other requirements set forth by these Regulations.

4.4.1. Guarantee deposit shall be considered paid when it is charged to the account of the Organizer.

Organizer shall provide full details for payment of the guarantee deposit in the Auction Announcement for each lot. The Organizer shall ensure the possibility of paying the guarantee deposit by cards of national and international payment systems through the Website with immediate confirmation of such payment. The Organizer shall provide constant updates of information concerning payment of guarantee deposit, their automatic processing and sending corresponding notification to the participants.

4.4.2. Confirmation of payment of the guarantee deposit shall be sent to the Personal Cabinet of the Participant and to the e-mail address of the Participant specified by the Participant during registration for participation in the auction, within one hour after receipt of such payment by the Organizer if the guarantee deposit was paid using national and international payment systems through the Website, and no later than ten o'clock of the next day after the day of receipt of such payment by the Organizer if the guarantee deposit was paid through bank institutions.

4.4.3. In case of electronic auctions of the property, starting price of which does not exceed UAH 2,000.00, the guarantee deposit shall not be paid by the participant of the electronic auction.

4.5. Submitting of the application by the Participant means consent of the Participant for processing of his/her personal data. The Organiser shall be responsible for violating the law on personal data protection.

4.6. Application for participation in electronic auctions shall be submitted electronically for each lot through the Website. The application for participation in the electronic auction of the chosen lot shall not be a permission to participate in electronic auction of other lots.

4.6.1. Application for participation in auctions must contain the following information:

For natural persons:

  • Surname, name and patronymic (if any) of the applicant;

  • Details of the applicant's account, to which the guarantee deposit must be returned;

  • E-mail for sending messages of the systems and the Organizer;

  • Contact phone number;

  • Registration number of the lot concerning which an application is submitted.

For an authorized representative of a legal entity:

  • Name of the legal entity;

  • EDRPOU code;

  • Surname, name and patronymic of the representative of the legal entity;

  • Series and number of document identifying the authorized representative;

  • Details of the document confirming his/her powers;

  • E-mail for sending messages of the Systems and the Organizer;

  • Contact phone number;

  • Details of the applicant's account, to which the guarantee deposit must be returned;

  • Registration number of the lot concerning which an application is submitted.

4.6.2. Registration of Participants for Commission trade shall be done taking into account the following peculiarities:

  • Guarantee deposit is not paid;

  • Registration is performed automatically by clicking "Buy" button.

4.6.3. Registration of Participants for participation in the auctions in the form of online store shall be done taking into account the following peculiarities:

  • Guarantee deposit is not paid;

  • Registration is performed automatically by clicking "Buy" button.

4.7. The System automatically assigns a unique registration number to the application for participation in the electronic auction, submitted through the Website, and records the date and time of such submission.

4.8. Receipt of applications for participation in the electronic auction begins when the Auction Announcement is placed in the system and continues until the end of the electronic auction.

4.9. Until the end of the auction (not taking into account their prolongation), the Organizer shall ensure registration and access to the electronic auction of all participants who meet the requirements for registration and concerning which confirmation of receipt of the guarantee deposit to the account of the Organizer was received.

4.10. The system shall check compliance of the application for participation in the electronic auction with requirements defined herein. If the application meets these requirements, the system automatically registers the applicant as a participant of the electronic auction.

4.11. In case of non-compliance of the application for participation in the electronic auction with requirements defined herein, the system does not record the applicant for participation in the electronic auction and displays a message indicating an appropriate reason.

4.12. Information on the outcome of applications consideration shall be placed in the Personal Cabinet of the participant and sent to the e-mail of the applicant specified in the application in case of refusal of the initial registration.

4.13. The system shall automatically complete registration of the Participant and give the Participant an appropriate access for the auction immediately after confirmation by the Organizers of payment by the Participant of the guarantee deposit, and immediately after proper fulfilment by the Participant of requirements hereof for lots where such payment is not required.

4.14. Information on the number of Participants of the electronic auction, indicating the unique registration numbers of applications shall be posted on the Website.

4.15. Information about the Participants of the electronic auctions may be provided to third parties only according to the procedure and on the terms set forth by the effective legislation of Ukraine.

V. Holding electronic auctions

5.1. The following types of electronic auctions are held:

  • Auction on a certain day;

  • Auctions with fixed prices;

  • Commission trade;

  • Trading through the online store.

5.2. Type of the electronic auction is determined by the Seller when submitting the Auction Announcement.

5.3. Auction on a certain day shall be held during one business day specified in the Auction announcement; is begins at 10:00 and ends at 18:00 Kyiv time. If the final price offer is received 5 minutes before the end of the auction, the electronic auction is automatically extended for 10 minutes from the time of submission of the last price bid.

5.3.1. All participants who were registered by the Organizer and allowed to participate in the auction shall have access to the course of the electronic auction. The participants put forth their bids on a lot. A price proposal is submitted through the Website with the bid increment specified in the Auction Announcement. The first price bid can be equal to the starting price of the lot. Each subsequent price bid should include the price, which is higher than the previous one by an increment established by the Organizer. Time of sending of the price bid using means of the system by the Participant, registered by the System, shall be considered the time of submission of the price bid. After submission of a price bid, a Participant may submit the next price bid only after a price bid from the other participant is received.

5.3.2. Time of sending the price bid by the Participant using the means of the System, registered by the System, shall be the time of submission of the price bid.

5.3.3. Personal Cabinet has a section with the currently active electronic auctions, in which the participant is involved. For these auctions, the following information is indicated: information on the course of the electronic auction, including the current price bid, list of price bids, and time of the end of the auction.

Information on the course of the electronic auction is updated immediately after submitting by one of participants of the next price bid.

5.3.4. A participant who submitted the highest price bid when the electronic auction finishes, shall be recognized as the winner of the auction. If one of the participants offered to purchase the property at the starting price and no price bids were submitted by other participants, the property shall be sold at the starting price.

5.3.5. If no price bids were submitted by the end of the auction at a specified date, the electronic auction shall be considered as not having taken place.

5.3.6. System shall provide continuous and open access of observers of the electronic auction to the Website to monitor the course of the electronic auction.

5.4. Auction with fixed prices shall begin at 10:00 Kyiv time on the day of the beginning of the auction and end at 18:00 of the last working day of the auction. If the final price offer is received 5 minutes before the end of the auction, the electronic auction is automatically extended for 10 minutes from the time of submission of the last price bid.

5.4.1. All participants who were registered by the Organizer and allowed to participate in the auction shall have access to the course of the electronic auction.

5.4.2. Each registered participant has the opportunity to purchase the property before the auction at the buyout price specified in the Auction Announcement.

5.4.2.1. Only one participant of the electronic auction can offer the buyout price before the beginning of the auction. The participant who wants to buy the lot at the buyout price must click "Buy", confirm the buyout price and pay it within five (5) calendar days.

5.4.2.2. During the period of waiting for payment of the buyout price, the lot card displays "Auction reserved by you" status (to the Participant who offered the Buyout price) or "Auction reserved" status (to all other Participants) with date and end time of reservation.

5.4.2.3. Organizer shall place full details for payment of the Buyout price in the Auction Announcement for each lot. Organizer shall provide the possibility to pay the buyout price using cards of national and international payment systems through the Website with immediate confirmation of such payment.

Confirmation of payment of the Buyout price shall be sent to the Personal Cabinet and to the e-mail address of the Participant specified by the Participant during registration for participation in the Auction, within one hour after receipt of such payment by the Organizer in case of payment using cards of national and international payment systems through the Website, and not later that ten o'clock of the next working day after the day of receipt of such payment by the Organizer in case of payment through bank institutions.

5.4.2.4. If the property is purchased at the buyout price, the electronic auction shall be cancelled, and corresponding notification is sent to Personal Cabinets of Participants.

5.4.2.5. In case of non-receipt of payment of the Buyout price within five (5) calendar days, the reservation shall terminate and the lot shall become available for immediate purchase at a Buyout price.

5.4.2.6. If the payment of the Buyout price is not received before the start of electronic auction, the offer of the Buyout price shall be cancelled and the electronic auction shall start at the time specified in the Auction Announcement.

5.4.3. On the day of the auction with fixed prices, Participants start to submit their price bids through the Website observing the Increment of the electronic auction that was specified in the Auction Announcement.

5.4.4. Time of sending of the price bid using means of the system by the Participant, registered by the System, shall be considered the time of submission of the price bid.

5.4.5. Personal Cabinet has the section with the currently active electronic auctions, in which the Participant is involved. The following information is indicated for such auctions: information on the course of the electronic auction, including the current price bid, list of price bids, and time of completion of the auction.

Information on the course of the electronic auction is updated immediately after submitting by one of the participants of the next price bid.

Each allowed participant of the Auction is provided an opportunity to increase the displayed bid by the increment of the auction by submitting a price bid.

5.4.6. The participant, who submitted the highest price bid when the electronic auction finishes, shall be recognized the winner of the auction with fixed prices.

5.4.7. If no price bids are submitted by the end of the auction with fixed prices, the electronic auction shall be considered as not having taken place.

5.4.8. System shall provide continuous and open access of observers of the electronic auction to the Website to monitor the course of electronic auction.

5.5. Commission Trade shall begin when Auction Announcement is posted in the System and end when the Property is sold.

5.5.1 Submission of the application for participation in the Commission Trade, which is done by clicking "Buy" button, shall be both a bid and acceptance of the Commission Price by the Participant of the electronic auction.

5.5.2. Participant who wants to buy a lot at the Commission Price must click "Buy" button and pay it within five (5) calendar days according to the received invoice.

5.5.3. The Organizer shall place full details for payment of the declared Commission price in the Invoice which is sent to the Participant after clicking "Buy" button.

The Organizer shall ensure the possibility to pay the declared commission price using cards of national and international payment systems through the Website with immediate confirmation of such payment, or through the bank institution. Organizer shall provide constant updating of data concerning payment of the declared Commission Price, its automatic processing and sending relevant messages for Participants.

5.5.4. Confirmation of payment of the declared commission price shall be sent to the Personal Cabinet of the Participant and to the e-mail address of the Participant specified by the Participant during registration for participation in the auction, within one hour of receipt of such payment by the Organizer if payment was performed using cards national and international payment systems through the Web site, and not later than ten o'clock on the next working day after the day of receipt of such payment by the Organizer if payment was carried out through bank institutions.

5.5.5. If payment of the Commission Price is not received within five (5) calendar days, the Property shall become available for purchase.

5.5.6. The system shall provide continuous and open access of observers of the electronic auctions to the Website to monitor the electronic auction.

5.6. Trading through the Online Store shall start after placement of the auction announcement in the System and end by concluding of an electronic transaction in accordance with the Law of Ukraine "On electronic commerce".

5.6.1. The Buyer has the opportunity to order multiple products simultaneously by adding them to a virtual shopping cart by clicking "Add to Cart" button. After formation of the final list of desirable products, the Buyer must press "Order" button.

5.6.2. The order shall be processed within 24 hours by confirming the availability of the ordered products.

5.6.3. After receiving notification about the availability of the ordered products, an invoice shall be sent to the Personal Cabinet and the e-mail of the Buyer for payment.

5.6.4. The Buyer must pay the issued invoice within five (5) calendar days of its delivery to the Personal Cabinet of the Buyer and to the e-mail address, if it was specified during registration on the Website.

5.6.5. After receiving payment from the Buyer for the ordered product, the Order status in the Personal Cabinet of the Buyer shall change to "You paid for the product, wait for delivery". For all other buyers the paid product is removed from sale.

5.6.6. The System provides continuous and open access of observers of the electronic auction to the Website to monitor the electronic auction.

5.6.7. The rights and obligations of buyers-participants in the format of the Online Store are determined by the legislation of Ukraine, in particular by the Law of Ukraine "On Protection of Consumers' Rights".

5.6.8. In cases when the offered property is traded through the Online Store, the Organizer shall not be a party of electronic transactions concluded in the form of the Online Store, it shall not be responsible for the contents of sent or received information, as the Organizers is not an initiator of transmission of such information, it does not selects the recipient and cannot change its contents.

VI. Formalizing results of the electronic auction

6.1. After completion of an electronic auction, information shall be displayed on the Website on the completion of the electronic auction, which is formalized with the following documents:

  • Auctions at a specified date and auctions with fixed prices shall be completed by drawing protocols of electronic auctions;

  • Commission trade and trading through the online store shall be completed by drawing the Invoice.

6.2. Protocol of an electronic auction shall contain the following information:

  • Date and time of start and completion of the electronic auction;

  • Registration number of the lot;

  • Name of the lot;

  • Starting price and the sale price of the lot;

  • Amount of the paid guarantee deposit;

  • Amount of the remuneration of the Organizer, which must be paid by the winner of the electronic auction, and details of the account for payment of this remuneration;

  • Information about the winner of the electronic auction (unique registration number of the participant, who offered the highest price during the electronic auction);

  • Date to which the winner of electronic auctions must fully pay the price of the lot or conclude a sale and purchase agreement;

  • Details of the account to which funds for the purchased property must be transferred (in case of the sold property).

6.3. On the day of holding the electronic auction or not later than the next working day, the System shall place the Protocol on the electronic auction of the lot with full information about the winner in the Personal Cabinet of the winner, and the messages about it shall be sent to the Personal Cabinet of the Seller.

6.4. Protocol on the electronic auction of a sold property shall establish the fact of concluding a sale and purchase agreement and shall be the basis for the relevant settlements.

6.5. Protocol of the electronic auction of offered property shall establish the fact of receiving the best available price bid and fact of concluding an acceptance agreement, and shall be the basis for concluding a relevant sale and purchase agreement between the parties and performing of relevant settlements.

6.6. If the winner of the electronic auction does not pay any funds in accordance with the requirements hereof, the electronic auction shall be recognized as to having taken place.

6.7. In the electronic auction is recognized as not having taken place; the relevant justification shall be entered to the corresponding protocol by the System in the personal cabinets of participants registered for participation in this auction.

6.8. The Invoice shall contain the following information:

  • Registration number of the lot;

  • Name of the lot;

  • Sale price of the lot;

  • Information about the Buyer;

  • Date by which the Buyer must pay full price of the lot;

  • Details of the account to which funds for the purchased property shall be transferred.

VII. Procedure of settlements for property sold at the electronic auctions and transfer of ownership right. Returning guarantee deposits

7.1. On the basis of the Protocol of electronic auctions of the sold property, the winner of the electronic auction shall within five (5) calendar days of receipt of the Protocol of the electronic auction perform settlements for the property purchased at the electronic auction.

7.2. Guarantee deposit that was provided by the winner of the auction shall be considered a down payment to ensure fulfilment of the Property sale and purchase agreement accordingly, and shall be included in the sale price. Amounts of guarantee deposits shall be transferred to other participants within three (3) working days after formation and posting of the protocol of the electronic auction on the Website.

7.3. Guarantee deposit shall not be returned to the participant who won the electronic auction, in case of failure of the participant to pay all due funds within the timeframe stipulated in paragraph 7.1 hereof.

7.4. Paid guarantee deposits shall be returned to the participants, in accordance with these Regulations on the basis of information provided by a Participant during the registration. Information shall include the following: name of the bank of the recipient, current account, bank's MFO, EDRPOU code (for legal entities) or an identification number (for natural persons), bank card number (for natural persons). If the information submitted by the Participant does not allow carrying out relevant settlements, the Organizer shall not be liable for violation of the timeframe of returning the guarantee deposit.

VIII. Procedure of settlements for property offered at electronic auctions and transfer of ownership right. Returning of guarantee deposits

8.1. On the basis of the Protocol of electronic auction of offered property, the winner of the electronic auction must sign the appropriate sale and purchase agreement within five (5) calendar days of receipt of the Protocol of the electronic auction to the Personal Cabinet.

8.2. Right of ownership for the property offered at the electronic auctions shall be obtained by the winner of the auction in accordance with the signed sale and purchase agreement and after transferring funds for the above-mentioned property to the account of the Seller.

8.3. Guarantee deposit paid by the winner of the auction shall be considered a down payment to ensure execution of the property Sale and purchase agreement accordingly and shall be included in the sale price. Guarantee deposits shall be returned to the other participants within three (3) business days after the formation and placement on the Website of the protocol of the electronic auction.

8.4. If the relevant sale and purchase agreement was not concluded due to the fault of the Organizer and/or the Seller, the guarantee deposit shall be returned to the Winner of the electronic auction.

8.5. The guarantee deposit shall not be returned to the Winner of the electronic auction of the offered property in case of cancellation / non-conclusion by the Winner of the sale and purchase agreement with the Seller at the price indicated in the protocol of the electronic auction of offered property, within five (5) calendar days from receipt of the Protocol of the electronic auction to the Personal Cabinet.

8.6. Paid guarantee deposits shall be returned to the participants, in accordance with this Procedure based on the information provided by the Participants during the registration. The information should include: name of the bank of the recipient, current account, bank's MFO, EDRPOU code (for legal entities) or identification number (for natural persons), bank card number (for natural persons). If the information supplied by the Participant does not allow performing relevant settlements, the Organizer shall not be liable for violation of the timeframe of returning the guarantee deposit.

8.7. If after receiving the property offered at the electronic auction the winner of the electronic auction has any claims against the Seller in respect of completeness and quality of the property, such claims shall be resolved between them in accordance with the terms of the effective legislation of Ukraine.

IX. Procedure for transferring of property sold at the electronic auction.

9.1. Winner of the electronic auction shall receive the property either from the Depositary or directly from the Seller, or by agreement, through the postal service / carrier.

9.2. Winner of the electronic auction must receive the property not later than seven (7) calendar days of the date following the date of complete settlement. In order to do this, the Winner shall arrive at the place where the property is stored or order the agreed sending through postal service / carrier. If sending through the postal service / carrier is ordered, the Winner of the electronic auction shall pay for such sending, unless otherwise provided in the Announcement.

9.3. The Winner of the electronic auction shall obtain the right of ownership for the property sold at the auction or the commission trade when the act of delivery and acceptance of such property is signed.

If the property is received from the Depositary or from the Seller, they sign an act of delivery and acceptance with the Winner of the auction in the form, posted on the Website.

If the property is sent through the postal service / carrier according to the order of the Winner, signing the relevant document with the postal service / carrier shall be deemed equal to the act of the delivery and acceptance.

9.4. When drawing the act of delivery and acceptance, the Winner of the electronic auction and the Depositary (or Seller) shall notify the Organizer of the electronic auctions within one (1) calendar day.

9.5. If the Winner of electronic auctions through the fault of Seller or Depositary failed to receive the purchased property, which was sold through the auction or commission trade, the Winner shall notify the Organizer electronic auction no later than one (1) calendar day of the expiration of the period established by these Regulations.

9.6. Claims concerning hidden defects of the property sold through an auction or commission trade can be declared by the Winner of electronic auctions at the time of acceptance of such property. If the Winner in the electronic auctions finds hidden defects of the property during the acceptance, the Winner may refuse to accept such property.

Hidden defects of the property sold through the auction or commission trade are the defects which were not specified in the Auction Announcement or it means that the property does not meet the description given in the Auction Announcement.

9.7. If the Winner of the electronic auction of property sold through the auction or commission trade, shall expresses justified claims concerning the received property within seven (7) calendar days following the date of full settlement, or notified about the impossibility to receive purchased property from the Seller (Depositary) within one (1) calendar day after the end of seven days term, the Winner shall be entitled to a returning of paid funds.

Organizer of electronic auction shall ensure returning of such funds within five (5) calendar days of receipt of the relevant letter from the Winner of the electronic auction.

9.8. In case of refusal to receive property under Item 9.7 of these Regulations, the Winner of the electronic auction and the Depositary or the Seller shall sign the Act of refusal to accept the property using the form posted on the Website.

If such property is sent through the postal service / carrier, signing of a relevant document with the postal service / carrier shall be deemed equal to signing the act of refusal to accept the property.

Seller shall pay for returning of such property through the postal service / carrier.

9.9. After acceptance of the property sold through an auction or commission trade, the Organizer of the electronic auction shall not accepted and shall not consider claims about the quality of the property.

9.10. If the Winner of electronic auction of property sold through the auction or commission trade, within seven (7) calendar days following the date of full settlement does not submit a justified claim concerning hidden defects or within one (1) calendar day after the end of seven day period does not notify the Organizer of the electronic auction about the impossibility to receive the purchased property from the Seller (Depositary), it automatically means that the property was received by the Winner and there are no remarks concerning the property.

9.11. If the Winner of the electronic auction based on reasonable claims refuses to receive property within seven (7) calendar days following the date of full settlement, or notifies the Organizer of the electronic auctions about the impossibility of obtaining property from the Seller (Depositary) within one (1) calendar day after the end of seven day period, electronic auctions shall be considered as not having taken place; corresponding message indicating the reasons shall be sent to the Personal Cabinet of the Seller and to registered Participants.

9.12. If the Winner of the electronic auction does not receive the property from the Depositary within seven (7) calendar days of the date of full settlement, their relations are governed by the Rules of Storage, posted on the Website.

X. Procedure for transferring property, sold at the electronic auction.

10.1. Based on the sale and purchase agreement concluded with the Seller, the Winner of the electronic auction shall receive the property either directly from the Seller or, by agreement, through the postal service / carrier.

10.2. The Winner of the electronic auctions shall receive the property not later than 7 (seven) calendar days following the date of full settlement.

10.3. The Winner of the electronic auction shall obtain the right of ownership of the property, offered at the electronic auction, after signing the act of delivery and acceptance of such property.

If the property is sent, according to the order of the Winner of the electronic auction, via postal service / carrier, signing the relevant document with the postal service / carrier shall be deemed equal to signing the delivery and acceptance act.

10.4. The Winner of the electronic auction and the Seller shall notify the Organizer about executing the Act of delivery and acceptance within one (1) calendar day.

10.5. All claims of the Winner of the electronic auction and the Seller shall be settled between them in accordance with the terms of the effective legislation of Ukraine.

XI. Procedure for transferring the property purchased through the Online Store.

11.1. The Participant shall obtain the right of ownership for the property purchased through the Online Store when signing the act of delivery and acceptance of such property according to the form, posted on the Website.

If the property is send according to the order of the Participant through the postal service / carrier, signing the relevant document with the postal service / carrier shall be deemed equal to signing the delivery and acceptance act.

11.2. If the Participant that purchased the products through the Online Store detects improper quality of the product, the Participant shall have the right to claim from the seller:

  • Proportional reduction of the price;

  • Free of charge elimination of product defects within a reasonable time;

  • Compensation of costs for elimination of product defects.

11.3. If significant defects occurred through the fault of the manufacturer or the Seller, or falsification of the product, confirmed by the opinion of the expert examination, are detected within the established warranty period, the Participant shall have the right to claim from the seller or the manufacturer the following in the manner and within the timeframe established by the legislation and based on the rules binding for the parties or an agreement:

  • Terminate the agreement and return the cash amount paid for the product;

  • Demand replacement of the product for the same or a similar product, of the products available for the seller (manufacturer).

11.4. The participant may bring one of the claims listed in Item 11.2 of these Regulations, and declare other claim in case of failure to declare another claim.

11.5. A person who trades through the Online Store shall be obliged to accept from the Participant the product of inadequate quality and satisfy Participant's claims.

Delivery of bulky products and products with the weight more than five kilograms and their return to the Participant shall be done at the cost of the person who trades through the online store.

11.6. If the product is available, the claim of the Participant to replace the Product shall be subject to immediate satisfaction, and if verification of quality is required, the claim shall be satisfied within fourteen days or by agreement of the parties.

In the product is unavailable, the claim of the Participant to replace it shall be satisfied within two months from the date of submitting the respective application. If satisfaction of the claim of the Participant to replace the product within the established term is impossible, the Participant is entitled to present other established claims on his/her discretion.

11.7. Claims of the Participant concerning inadequate quality of the product purchased through the online store shall not be satisfied if the Online Store proves that the defects of the product appeared as a result of violation by the Participant of the rules of using the product or its storage.

11.8. Participant who purchased through the online store a non-food product of appropriate quality (except where such a product is included in the list of goods that are not subject to exchange (return), approved by the Cabinet of Ministers of Ukraine) has the right to exchange such product for the similar product if the product has not satisfied the Participant in shape, dimensions, style, colour, size or cannot be used by the Participant as intended for other reasons.

The Participant has the right to exchange product of proper quality within fourteen days, not counting the day of purchase, if a longer period is not declared by the Seller.

Exchange of the product of the proper quality shall be made if it was not used and its marketable condition, consumer properties, seals, labels, and settlement documents issued to the Participant along with the sold product are preserved.

If no similar products are on sale at the moment of the exchange, the Participant has the right to buy any other products from the existing range or products with appropriate recalculation of the cost, or cancel the agreement and get money back in the amount of the cost of the returned product, or exchange the product once the corresponding product is put on sale. The seller must notify the Participant who demands exchange of the product on the day of receipt of the product for sale.

Upon termination of the sale and purchase agreement, settlements with the Participant shall be performed based on the cost of the product at the time of purchase. Money paid for the product shall be returned to the Participant on the day of termination of the agreement, and if it is impossible to return money on the day of termination of the agreement, at other date agreed by the parties, however not later than seven days of the date of termination.

11.9. The Organizer shall perform obligations provided in this section if the Organizer trades sold property through the Online Store.

If offered property is traded through the Online Store, the Organizer shall not be a party of electronic transactions concluded in the form of the Online Store. The Organizer shall not be responsible for the contents of sent or received information, as the Organizer is not an initiator of the transmission of such information; the Organizer does not select a recipient of the information and cannot change its content.

XII. Recognition of electronic auctions as not having taken place.

12.1. Electronic auction shall be considered as not having taken place in case of:

  • Lack of participants of electronic auctions;

  • No price bids received from any participant;

  • Failure to pay by the Participant who was determined as the winner of the electronic auction, the proper amount of money or avoiding conclusion of the sale and purchase agreement within timeframe prescribed hereby.

12.2. If the electronic auction has not taken place, the Organizer shall send a message about this to the Personal Accounts of Participants and to the Seller no later than the next working day.

XIII. Stopping of electronic auctions.

13.1. The following are the reasons for stopping an electronic auction in general of for an individual lot:

  • Court decision;

  • Availability of technical reasons which prevent operation of the System. The auction is suspended only for the period of the recovery of the System's functionality.

13.2. If there are grounds specified in Item 13.1 of these Regulations, the Organizer shall immediately stop the electronic auction in general or for a separate lot. The act of stopping the electronic auction shall be drawn indicating the grounds and the decision on stopping the auction. This act shall be placed by the organizer on the Website and, if possible, shall be sent to Private Cabinets of all participants. When the electronic auction is stopped in general or for a separate lot, period of the electronic auction is automatically suspended.

13.3. If grounds for stopping the electronic auction, defined in Item 13.1 hereof, the Organizer, complying with this requirements of these Regulations using means of the System, shall take measures to resume the electronic auction in general of for a separate lot, preserving previous conditions of the auction's holding by extending the period of the auction. Information about the resumption of the electronic auction shall be posted on the Web site and sent to Private Cabinets of all participants no later than the next working day after resumption using means of the Systems. Information about the resumption of the electronic auction must include grounds for resumption of the electronic auction and the date and time of its beginning.

13.4. In the case of suspension of the electronic auction based on the consequences listed Item 13.1 hereof, Participants of the electronic auction shall have the right to stop their participation in the electronic auction and return paid guarantee deposits they paid.

13.5. Participant of the electronic auction must notify the Organizer of the electronic auction about his/her desire to use the right to refuse from participating in the electronic auction that were stopped based on consequences listed in Item 13.1 hereof prior to resumption of such auction.

13.6. The guarantee deposit shall be returned to the participant of the electronic auction who sent the notification about refusal to participate in electronic auction in accordance with Item 13.5. hereof, within five (5) calendar days of receipt of such notification by the Organizer of the electronic auction.

XIV. Withdrawing property from sale.

14.1. Before the start of the electronic auction, the Seller has the right to withdraw the property from sale. If notification about withdrawal is received before the beginning of the electronic auction, the Organizer shall immediately stop the electronic auction, post relevant information on the Website and send it to Private Cabinets of all Participants.

14.2. From the beginning of the electronic auction, the Seller has the right to withdraw the property from sale subject to mandatory payment to the account of the Organizer of the amount equal to 2% of the price of the Property specified in the Auction Announcement. If a notification is received from the Seller about the withdrawal of property from sale before beginning of the electronic auction and relevant amount, the Organizer shall immediately stop the electronic auction and post relevant information on the Website and send it to Personal Cabinets of all participants.

14.3. If the electronic auction has not taken place or the property is withdrawn from sale, guarantee deposits shall be returned to participants of the electronic auction, except those who violated conditions of these Regulations, within three (3) business days from the day following the recognition of the electronic auction as not having taken place or the date of withdrawal of the property from sale.

XV. Remuneration of the Organizer.

15.1. Remuneration of the Organizer for organizing and holding the electronic auction shall be established as a percentage of the selling price of the lot.

15.2. Amount of remuneration for organizing and holding the electronic auction is 5% of the sold property cost.

If the property was sold at the price higher than the starting price, the Organizer shall recalculate the remuneration in proportion to the increase of property's prices and note in the protocol of the electronic auction the amount of the remuneration that the buyer must additionally pay, and the account of the Organizer to which those funds must be paid.

15.3. Obligations of the Organizer shall be deemed fulfilled when the Seller receives funds for sold property or when a sale and purchase agreement is concluded between the seller and the winner of electronic auction of offered property.

XVI. Settlement of disputes

16.1. All disputes that may arise between the Organizer, Sellers, Participants of the electronic auction, and any third parties shall be settled through negotiations.

16.2. The person to whom the relevant written (electronic) message was sent, must within 10 (ten) days from the date of its receipt consider it and provide a grounded response. The notification and the response are considered properly sent/received if they were sent/received by the relevant side of the dispute to the email address specified during the corresponding registration/identification.

16.3. If the dispute is not solved out-of-court, the dispute shall be settled in the appropriate court according to the effective legislation of Ukraine.

16.4 All legal consequences of failure by the winner of the electronic auction of the Acceptance shall be resolved in accordance with the effective legislation of Ukraine.

XVII. Other issues.

17.1. Organizer of the electronic auction has the right to amend these Regulations, including by approving a new version.

17.2. Information on amendments to the Regulations shall be disseminated by posting relevant information on the Website of the electronic auction.

17.3. Changes to these Regulations shall come into force within fifteen (15) calendar days from the date of their publication on the Website of electronic auctions.

17.4. Electronic auctions based on the Auction Announcement that were entered to the System before the entry into force of amendments to these Regulations shall be held under the version of the Regulations effective when the Auction Announcement was entered into the System.

17.5. In case of sale on the Website of property, which is sold on the basis of regulatory and legal acts, the electronic auction is performed using peculiarities of such regulatory and legal acts, about which the corresponding note in the Auction Announcement shall be made.