VINHO DO PORTO , QUINTA DO CACHÃO 1977 VINTAGE PORT

BUSINESS TERMS AND CONDITIONS FOR PURCHASING GOODS AT AUCTION

The Commercial Company “ LANCE A LANCE LEILÕES, LDA” , hereinafter referred to as “ Bid by Bid ”, subjects its auction activity to the provisions of Decree-Law no. Business Conditions contained in the following clause and still apply to all auctions organized by “ Bid by Bid ”, whether in person or online.

ART. 1st - PLATFORMS

“ Bid by Bid ” organizes online auctions on its website/website. www.bidbybid.pt, hereinafter referred to as the online platform as well as other platforms.

ART. 2 - CATALOGS

The catalogs with the images and descriptions of each and every one of the goods that make up the online auctions are available in a digital version on the www.bidbybid.pt platform and simultaneously on other platforms.

ART. 3rd - ONLINE REGISTRATION

1. To issue purchase orders, the bidder must be of legal age and register in advance on the “ Bid by Bid ” website, filling in all the necessary identification and contact details, namely, name, address, ID number or Citizen Card. and the Taxpayer Number, telephone number and e-mail, and must declare that he/she knows and accepts the present business conditions.
2. The potential online buyer must keep the password he chose during registration confidential and is responsible for its use.
3. The bidder assumes the veracity of the data entered and the consequences arising from such act, namely, being responsible for any unauthorized access to the e-mail account that was created.
4. “ Bid by Bid ” reserves the right, at the time of registration or at a later time, to request the presentation of the original of a valid and valid identification document from the potential buyer or its representative.
5. " Bid by Bid " also reserves the right to refuse registration or ignore any bid to those who have not punctually fulfilled obligations, namely payment and collection of one or more goods, in previous auctions.

ART. 4 - REQUIREMENT FOR GUARANTEE/SECURITY

“ Bid by Bid ” also reserves the right, at the time of registration or at a later time, to ask any potential buyer or its representative to present a guarantee, in accordance with its commercial and credit policy and in accordance with with the potential buyer's history, consider reasonable, both in terms of form and amount.

1. The participation of interested buyers may imply the provision of a guarantee, in favor of " Bid by Bid " or any other form of payment defined and which will be announced, on the online auction site bidbybid.pt or any other site or form made available. public.
2. The value of the security mentioned in the previous point will be returned to the issuer, except for the one who proposed the best price, which may be deducted from the sale price.
3. If the interested buyer who offered the highest sale price refuses, without legal reason, to pay the remainder of the same, he/she loses the value of the security deposit in favor of “ Bid by Bid” or the selling entity, without prejudice to the civil liability that, in circumstance in question can be attributed.

ART.5 - CHARACTERISTICS OF THE GOODS AT AUCTION

The goods are sold in the conditions, physical and legal state in which they are, so “ Bid by Bid ” declines any responsibility regarding their state of conservation and functioning, being the responsibility of the potential bidders to analyze and confirm personally, during the exhibition. of the same, which takes place in the days before the auction, the accuracy of the description contained in the catalogue, namely the authenticity, the type of mechanism, the guarantee, eventual restorations, defects, faults and imperfections that are mentioned in it.

ART.6 - RESPONSIBILITY FOR DESCRIPTIONS

Any representation or description presented by “ Bid by Bid ”, in any catalogue, with regard to authorship, attribution, genuineness, origin, date, age, provenance, status or sales price estimate, shall be understood as a mere opinion. based on your current knowledge of the parts and the warranties given by the seller.

ART. 7 - PURCHASE ORDERS AND BIDS

1. As soon as a purchase order (bid) is placed on a lot, the buyer will receive, on the screen, a notification that will inform him if it is (or is not) the highest order. If the maximum value of your purchase order (bid) is exceeded, you will receive an email with this information. You can then, if you wish, submit a new purchase order (bid) of a higher value.
2. Online purchase orders received during the online auction via the “ Bid by Bid ” website are confidential and once accepted, are final and cannot be canceled or revoked. The buyer in online auctions acknowledges that, having made a purchase at auction, he does not benefit from the right of free termination of the contract provided for in the legislation that regulates contracts concluded at a distance.
3. As soon as the buyer enters a purchase order (bid) on a lot, he will receive, on the screen, a notification that will inform him if it is (or not) the highest order. If the maximum value of your purchase order (bid) is exceeded, you will receive this information by email, and you will have access to a “link” where you can increase it. We advise the buyer to follow the bidding process for their lots while the auction lasts, in order to ensure that their purchase order (bid) is the highest until closing.
4. The increments of online bids will in no case exceed 10% of the value of the previous purchase order and are established by “ Bid by Bid ” at intervals.
5. The bidding of the lots will end, progressively and sequentially, with intervals of 30 seconds between each lot, from the scheduled time for the end of the auction. However, in cases where a purchase order (bid) is received for a given lot up to one minute before the end of the auction, the “ Bid by Bid ”, will automatically extend the bidding for that lot for another minute, counted from the time of submission of the last purchase order (bidding) and so on. The closing of the bidding for each specific lot will be indicated next to it. Extending the bidding closing time for any lot will not affect subsequent lots, which may result in them being closed out of their numerical order.

ART.8 - RESPONSIBILITIES

1. On the online platforms “ Bid by Bid ” and those that represent it , periods of unavailability or operating errors may occur, caused by various factors, which may compromise the holding of an auction or the negotiation of a certain lot.
2. Likewise, malfunctions of the Platforms may affect the generality of users, a group of users or just a specific user, who may, in particular, not be able to register, not be able to access their account, not be able to place an order. purchase order or a bid, placing a purchase order or a bid that will not be taken into account, or not receiving certain communications (for example, an outdated bid) or receiving erroneous communications.
3. Neither “ Bid by Bid ”, nor its representatives, workers or collaborators can, under any circumstances, be held responsible for any problems with the functioning of the platform .
4. In the event of a problem with the functioning of the platform in an online auction, “ Bid by Bid ” may, but is not obliged, to repeat the affected auction or replace the affected goods in a new auction.

ART. 9 - PREEMPTIVE RIGHT AND WITHDRAWAL OF THE GOOD FROM THE AUCTION

" Bid by Bid " considers a buyer to be the person who, by himself or represented by a third party with powers to act, bids and buys the good for the highest value, but without prejudice to the possibility of exercising the preference or option by official entities, under the terms of the applicable legislation, and it is up to the auctioneer to decide, with full discretion, any doubt that may arise, including withdrawing any good from the auction or putting the good back up for sale at the value in which the doubt arose.

ART.10 - PAYMENT OF LOTS

After the auction, the buyer is obliged to proceed with the payment of the lots within 3 (three) working days, after the auction is carried out. Settlement of the price can be made through the following means of payment:

• Bank Transfer to IBAN: PT50001000005959701000121, indicating the invoice number(s);
• In our facilities: ATM, mbway, cash up to € 3,000.00 (three thousand Euros), or certified check, issued to Lance a Lance Leilões Lda.

A 16% commission plus VAT at the prevailing rate is added to the hammer price of each lot.

Until the transfer of ownership, under the terms set out in points 1 and 2 above, the good remains the property of the seller.

The title to the good is only transferred to the buyer after paying “ Bid by Bid ” the total amount of the sale of the same.

ART. 11 - RIGHT TO FREE RESOLUTION OF THE CONTRACT

The online buyer in online or face-to-face auctions acknowledges that, having made a purchase at auction, he does not benefit from the right of free termination of the contract provided for in the legislation that regulates contracts concluded at a distance.

ART. 12 - CONDITION FOR SURVEY

1. The withdrawal of any good will only be authorized after the total amount of the sale has been paid.
2. After a period of 15 (fifteen) days without the good being picked up by the buyer, the buyer will be responsible for the loss or damage, including theft or robbery, that may occur in the good. The buyer is also responsible for all costs of removal, storage and/or insurance of the good that may be incurred, under the terms of the price list in force.
3. The buyer may choose to collect the goods directly at the company's premises, by himself or by carrier, or request delivery by mail, through CTT. In the latter case, you must request the respective transport cost by email: [email protected] .
4. The normal deadline for sending lots by mail or carrier is one to two weeks, after receiving payment of the invoice for the transport cost.
5. After the aforementioned period of 15 (fifteen) working days has elapsed without the goods paid for having been collected by the buyer, the buyer will be responsible for paying the storage costs, corresponding to €20.00 + € 2.00 per day.

ART. 13 - RESPONSIBILITY FOR THE SURVEY

The collection and transport of a good is the sole responsibility of the buyer, considering that any assistance provided by " Bid by Bid ", its representatives, workers or collaborators is carried out as a mere courtesy, so that any assistance cannot be attributed to it. responsibility for that action. The eventual indication of a company or person to carry out any of the aforementioned acts also excludes any liability of “ Bid by Bid ”, its representatives, workers or collaborators, for any damages or losses arising from these services.

ART. 14 - CONSEQUENCES OF NON-PAYMENT

1. If the buyer does not make the payment and withdrawal under the conditions referred to in Arts. for this fact:
2. Initiate legal action for collection of the total amount of the sale;
3. Notify the buyer of the resolution of the sale due to default, without prejudice to the right of “ Bid by Bid ” to receive the commission owed to it by the buyer and the possibility of taking action to collect it.
4. Charge late payment interest at the legal rate on the total amount owed until the time of receipt.
5. Sell ​​the lot or lots in question again at auction.
6. Remove, store and insure the lot or lots at the defaulting buyer's expense, it being up to the “ Bid by Bid ” to decide where to store the lots.
7. Retain that or other lots sold to the defaulting buyer in the auction in question, or another, and release him only after payment of the total amount due.
8. Reject or ignore any bid made by the defaulting buyer or its representative in any subsequent auction or request a security deposit from the defaulting buyer before re-accepting any bids.
9. Take any measures that at any time appear appropriate to obtain payment of the total amount owed by the defaulting buyer, as well as being able to compensate for the existing debt through the amount of the price of an asset of the defaulting buyer that is in the possession of " Bid by Bid ” whatever the title.
10. The foregoing alternatives shall be understood without prejudice to any other rights that “ Bid by Bid ” may have, including the right to claim the payment of interest and the expenses of removal, storage and/or insurance of the property to which there is place. Likewise, the fact that “ Bid by Bid ” initially opts for the hypothesis provided for in a) must be understood without prejudice to the right, at any time, to put an end to such action and to cancel the sale under the terms provided for in b) .

ARTICLE 15 - THIRD PARTY CLAIMS

“ Bid by Bid ” is not liable to the buyer for any good that, due to a fact attributable to the seller or a third party, becomes the subject of claims or claims by third parties and/or seized, provisionally or definitively, by the competent authorities. , irrespective of the date on which the respective claim, claim or seizure was determined or effected, and the nature or amount of any losses, losses or damages that may arise for the buyer from this fact, which must be claimed by the buyer directly from the seller or third party causing it.

ART. 16 - RESTRICTIONS ON TRANSMISSION, EXPORT AND SIMILAR

The “ Bid by Bid” is also not liable to the purchaser for any good that may be prevented from leaving the country or subject to any other burden, charge or restriction, namely regarding the possession, use, enjoyment or transferability, including under the legislation protecting the cultural heritage, irrespective of the date on which the respective classification, inventory or listing took place, and the nature or amount of any losses, losses or damages that may arise for the buyer from this impediment, which must be claimed by the buyer directly from the seller or third party causing it. Likewise, it is the buyer's responsibility to inform himself about (and, if applicable, obtain) any (i) licenses and other export formalities or restrictions, from Portugal to the country of destination intended by the buyer; and (ii) licenses and other import formalities or restrictions in the country of destination intended by the buyer - eg, certain countries establish restrictions on the importation of goods incorporating plant or animal elements.

ART. 17 - LIMITATION OF LIABILITY

Except in the case of willful misconduct and without prejudice to the transfer of liability to the insurance company, the possible liability of “ Bid by Bid ”, vis-à-vis the buyer, namely for damage to the good, is, in any case, limited to the amount actually paid by the latter by the acquisition of the good.

Any loss or damage, including theft or robbery, having as object any good purchased and not collected, which occurs within the period of 15 (fifteen) days referred to in article 12, only entitles the buyer to receive an amount equal to the amount paid until that moment for the good, not being entitled to any compensation, indemnity or interest.

ART. 18 - PROHIBITION OF INTERVENTION

“ Bid by Bid ”, the partners or legal representatives or spouses, ascendants or descendants, cannot intervene, under any circumstances, on their own behalf as buyers of the goods placed at auction.

ART. 19 - PUBLICATION AUTHORIZATION

The buyer expressly authorizes “ Bid by Bid ” to photograph, publish, advertise and use, in any form and at any time, for commercial, cultural, academic or other purposes, whether or not related to the auction, the image and the description of all the goods that have been put up for auction through it.

ART. 20th - AGREED JURISDICTION

For the resolution of any conflict between the parties on the interpretation or validity of the contract, including these Business Conditions, as well as on the execution and fulfillment of the same, the court of the district of Porto will be exclusively competent.

ART. 21st - PERSONAL DATA

1. The buyer expressly acknowledges to “ Bid by Bid ” the right to process their personal data, namely identification data, contact data and bank account identification data.
2. Data processing is carried out for the purpose of complying with the business conditions and contractual obligations provided for in this contract.
3. “ Bid by Bid ” may transmit personal data to public and/or private authorities and entities, to comply with legal obligations, including, without excluding, the Tax Authority, the Directorate-General for Cultural Heritage, the Judiciary Police, ASAE and the Portuguese Society of Authors.
4. The data may also be shared - to the extent strictly necessary - with entities that provide services to “ Bid by Bid ” and that, within the scope of these services, process or may process the personal data of customers.
5. Customers' personal data may be kept by " Bid by Bid " for a period of up to 10 (years) after the termination of the contractual relationship, which may be longer based on the fulfillment of applicable legal obligations or usable in any legal proceedings.
6. Pursuant to the applicable legislation on personal data, buyers are granted the following rights regarding the processing of their personal data: (f1) right of access, (f2) right to erasure, (f3) right of rectification, (f4) right to portability, (f5) right to limitation of treatment, (f6) right to opposition and (f7) right to complain - ie, right to file a complaint with the National Data Protection Commission (https://www.cnpd.pt ).
7. The buyer declares that he has become aware of the “ Bid by Bid ” Privacy Policy , available at the following link  bidbybid.pt

Porto, September 30, 2021

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