Conditions of sales

 

 

These Conditions of Sale have been translated and are deemed accurate. Nevertheless the sale is ruled by the French version of the Conditions of Sale and if a difference is to be found between the French and the English translation, the French version will be the one that rules.

 

Article 1 – Conditions of Sales

 

It is assumed that all buyers and sellers are familiar with, and have accepted these conditions of sale. These conditions shall apply to all transactions performed by ARQANA on the website www.arqana-trot-online.com. These conditions are in accordance with the law of July 10th 2000 and the articles 2001-650, 651, 652 of 19/7/2001, which deal with the voluntary sale by public auction of movable property.

 

ARQANA will act on behalf of the vendors, who agree to give responsibility to ARQANA for billing and collecting proceeds. These Conditions of Sales shall apply in all their prescriptions, provided they don’t come in contradiction with those announced before the sale and recorded in the minutes.

 

Under the terms of the law of July 10th 2000, any private sale of a horse that has been offered for sale by auction by ARQANA, bought back by the vendor and subject to a subsequent private transaction with the concourse of ARQANA, will be considered as a sale by public auction for all instances where these Conditions apply.

 

The responsibility of ARQANA towards buyers and sellers is limited to the cases defined in the present Conditions of Sales, and accepted contractually by buyers and sellers. In general, under no circumstances shall inobservance of the Conditions of Sale shall engage ARQANA’s responsibility towards buyers and third parties.

 

 

Article 2 – Auctions on Arqana-trot-online.com

 

In accordance with the law, bids shall be taken and displayed in Euros.

 

I – REGISTRATION FOR A SALE

Only the persons who have been approved with ARQANA shall be entitled to bid. To this end, they must register on the website by creating a personal account and follow the instructions to file a registration request. After receiving their personal access code, they will be able to log on securely to the online bidding platform.

 

II – BIDDING

Any person wishing to place bids must log on to his/her personal account on arqana-trot-online.com and follow the instructed procedure to confirm his/her bid by entering the personal access code provided. Every validated bid is confirmed by an email sent to the address provided by the bidder. Every overbid is also communicated to the underbidder in the same way.

 

III – CANCELLATION

A cancellation option is available during 2 (two) minutes following the validation of a bid, and can be accessed on the bidding page or via a link included in the email sent to the bidder.

 

IV – END OF A SALE AND EXTRA-TIME RULE

The end of a sale is scheduled at a precise time, indicated on the website by a countdown showing the remaining time to place a bid. The Extra Time rule guarantees a minimum period of 20 (twenty) minutes to place an overbid, therefore pushing back the end of the sale by the same amount.

 

V – SALE OUTCOME:

An email will inform all bidders from the outcome of the sale. The highest bidder at the end of the sale shall be deemed the purchaser and become the owner of the horse, of which he/she will take delivery after ARQANA has produced and transferred to him/her a voucher allowing the horse to leave the premises where it has been stabled.

 

A veterinary surgeon mandated by ARQANA will produce a clinical examination certificate prior to the beginning of the sale, and a second as close as possible to the end of the bidding process.

 

ARQANA reserves the right to refuse the bids of anyone who does not offer proof of established solvency and in particular will refuse the bids of those who have not settled payment of previous purchases made at ARQANA or with other sales organisations.

 

Failing immediate payment, any unpaid lot may be reoffered for sale on grounds of irresponsible bidding, without any formal summons or legal procedure, at the irresponsible bidder’s own risks. The bidder shall be bound to settle the difference between the original purchase price and the price attained when the horse was re-offered but will have no claim to any surplus, which will be passed on to the original vendor. ARQANA shall have sole responsibility for determining any case of irresponsible bidding.

 

In case of default from the buyer, ARQANA shall auction the horse once again and the potential price difference shall not be claimed.

 

Article 3Information to be supplied by the seller

 

The seller must provide in writing any public announcements to be made at his responsibility before the sale. ARQANA shall be solely responsible for the conformity of the declarations communicated by the seller with those that are passed on to the public but does not accept responsibility for the sincerity or accuracy of the seller’s statements, particularly with reference to VAT, description of the horses, of their pedigree, race record, entries, earnings, stable vices, date of last service date etc.

 

Thus the seller must indicate in writing and before the sale all errors or omissions appearing on the pedigree displayed on arqana-trot-online.com so that such errors or omissions can be rectified and recorded.

 

 

Article 4Veterinary file

 

Before the start of the sale, buyers are given the possibility, with the consent of sellers, to have the veterinary file of the horses offered for sale consulted by the veterinary surgeon of their choice and at their own expenses, and if appropriate to have the horse clinically examined, within the limits of the protocol designed for such purposes by the Association of Equine Veterinarians.

 

Before any consultation of a veterinary file, the seller must establish a consultation form to be filled in and signed by the potential purchaser or his/her veterinarian, wherein they commit themselves to the obligation of confidentiality of the information they will be led to collect.

 

The arqana-trot-online.com website mentions the content of the veterinary file for each horse offered for sale. The file shall be available for consultation on the premises where the horse is stabled as well as via a vet box, during the entire inspection period. Veterinary surgeons who file a request (on arqana-trot-online.com) will receive an access code from ARQANA and ARQANA TROT to log on to the horse’s digital file.

 

 

Article 5Documents to be provided by the seller

 

Horses entered by the Vendor must be accompanied by proper documents, notably the Passport, Vaccinations certificate, Certificate of title (french horses, «carte d’immatriculation»), Registration Certificate (foreign horses, I.E. deposit receipt and description book) plus a covering certificate for pregnant mares when the mares are sold with covering paid (and only the “attestation de saillie” for mares where an outstanding amount is payable).

These documents must be provided by the Vendor before the sale to ARQANA Trot or to ARQANA office the day of the sale. The responsibility remains entirely with the Vendor in the event that the documents for any horse are not submitted before the sale and ARQANA & ARQANA Trot shall have the right to refuse to offer such horse in the sale.

However, if the sale of the animal goes ahead, ARQANA shall not, under any circumstances, be liable for the absence of the required documents.

In addtition, the Vendor agrees to accept the identification of horses offered as made by Conditions of sale 14 15 the Official Veterinary Officer.

A NEGATIVE COGGINS TEST certificate issued less than one month previously must be lodged at the office before the sale, without which certificate the horse will be unable to be offered for sale.

All documents are lodged and collected from ARQANA Office.

Payment to the Vendor may only be made once ARQANA is in possession of all documents for the horses sold, as well as a copy of the declaration made to the SECF in the case of the dissolution of a partnership.

 

 

Article 6 – Seller’s warranties

 

a) Horses sold at Public Auction are subject to ordinary legal warranties.

Nevertheless, the Vendor must guarantee the Purchaser against vices set out in the French Rural Code (section 285) and not declared by him before the sale.

Stable vices, that is weaving, crib biting, wind sucking or a habitual box-walker, should be announced from the rostrum before the sale, if this is not done a Buyer has the possibility of asking for a sale to be cancelled.

Any complaint based upon such guaranteed «hidden vices» may only be brought within 10 days of the sale under the provisions of the French Rural Code (section 284) (The Postmark being evidence of the date, not including the day of the sale), with the exception of moon blindness and equine infectious anaemia, for which 30 days, again not including the day of the sale, is allowed. The Limitation period expires at midnight following the last day of sale. A period set to expire on a Saturday, Sunday or Public Holiday is extended to the next normal working day. The Purchaser must submit his request to the relevant Court to appoint experts to draw up a report of an examination of the animal within the legal time delay. Within the same time the Purchaser must notify the Vendor (by registered letter), as well as ARQANA & ARQANA Trot, of the filing of his request made to the Judge of the applicable Court.

Any Purchaser who has access himself, or throught the intermediary of his veterinary surgeon whos has also had access to information concerning a horse, redhibitory vice, X-Rays etc, will be deemed to have been informed of any such vice and will therefore be unable to claim ignorance of such facts as a motive to have a sale annuled.

Failure to have had access to this information and if in the month following the day of sale, the Buyer feels that the horse is affected by a latent defect, he may, at his own expense, request expert opinion on an amicable basis so as to assess grounds for such application. This examination shall be performed by an expert veterinary surgeon agreed upon by both parties. The lenght of the examination cannot be used by the Seller as a reason to challenge the admissibility of further legal action. Barring technicality, both parties may undertake to accept the findings of the said expert.

The Purchaser’s action for cancelling the sale must be brought directly against the Vendor, whose name will be supplied to him on demand by ARQANA. In any case, this action may not be entered against ARQANA, who cannot be held responsible.

No claim, even in case of redhibitory-vice, can be entertained if the Buyer has not paid in full the purchase price of the horse in question.

In the case of a redhibitory-vice, the purchase price will be held by ARQANA until the claim is resolved (see article 14).

b) Claim for cancellation of sale relating to the testing of prohibited substances : The sale shall be annulled automatically (except at the request of the purchaser) for horses which have, before the sale, either won or placed and which, subsequent to a positive test for prohibited substances, have had such results rendered void by the SECF. In this case, the Vendor will be obliged to reimburse the full purchase price (including sales commission) and to take back the horse. To recover this money the Buyer, or his representative, must make a written request, by registered post, within fifteen (15) days of reception of written notification from the SECF concerning the disqualification.

c) The vendor must ensure that each horse presented for sale carries the proper lot number by which he is identified in the catalogue. In case of error or confusion, it is incumbent on the Vendor to correct such error or confusion, and this responsibility shall not be placed on ARQANA or ARQANA Trot.

d) ARQANA & ARQANA Trot will commission a Veterinary Surgeon to check the horse’s passport. Where the identify is in dispute, the Vendor shall agree to a blood test and to have any necessary photographs taken.

e) The Vendor must ensure that horses presented for sale have had the Vaccinations as laid down by the rules of racing, as well as the negative Coggins Test dated within a month of the sale.

f) Horses which are sold under any order of any court of competent jurisdiction or any competent judicial, governmental or regulatory body, are sold “as is” and “as seen”, without any guarantee, and no warranty or representation in relation to the condition is made by ARQANA in relation to such horses, in accordance with article 1649 of the civil code. 16 17

g) The Vendor is responsible for the accuracy of such information and the Purchaser may only sue him for any error or omission. Where significant information in the catalogue, or announced from the Rostrum at the Vendor’s instruction, is proved to be inaccurate or incomplete, the sale may be cancelled at the request of the Purchaser, up to one month after the sale.

All Vendors of Broodmares must state precisely in the catalogue the mares complete breeding record since going to stud.

The Vendor may have confirmation that the mare is «in foal» announced from the Rostrum if it is supported by a veterinary certificate dated within the 10 days preceding the sale. The Purchaser is entitled to have the mare examined by a veterinary surgeon approved by the Vendor within 24 hours of the sale and before she has left the sales complex. If the resulting pregnancy diagnosis turns out to be contrary to the Vendor’s statements, the sale shall be cancelled automatically.

A broodmare sold as «empty» which has been covered, and which turns out subsequently to be «in foal», shall be returned to the Vendor. The Vendor shall reimburse the Buyer for the purchase price with interest added at the rate of 12 % per annum, as well as for the sales charges and boarding fees at the prevailing rates, within 15 days of the Purchaser’s notice by registered letter that the mare is in foal. The Purchaser nevertheless has the option of keeping the mare if he offers to reimburse the Vendor for the Covering Fee alone without any supplementary expenses. Where the Purchaser lets the mare foal, he shall be deemed to have agreed to settle the Covering Fee whether or not the foal is viable.

The prospective Purchaser of a Filly out Of Training may, before the sale, ask the Vendor for permission to have her examined by a veterinary surgeon approved by the vendor with the object of establishing her fitness for breeding, in particular the state of her genital organs.

Each horse entered as being suitable to be a stallion is done so under the sole responsibility of the Vendor. The Vendor of a stallion, or a potential stallion, shall undertake in regard to the Purchaser (in particular for the French National Stud) to agree to the request of the Purchaser that the sale be cancelled where the animal has not passed the customary fertility tests within 30 days of the sale, and, for the French National Stud, its own prescribed tests.

 

 

Article 7 - Cancellation of sale.

 

In the case of cancellation of the sale for any reason, the Vendor shall be held liable to reimburse the Buyer for the full purchase price and Purchaser’s commission, as well as all expenses incurred by the Buyer for the horse while in France until the time of cancellation of the sale. In the event of export of the horse, the costs incurred in transport of the horse outside France, upkeep of the horse, and return transport to France shall be borne by the Buyer.

In any case, no action shall be brought against ARQANA & ARQANA Trot who cannot be held responsible.

It is expressly understood that a buyer forfaits his right to have a sale annuled on the basis of redhibitory vice should the horse take part in an equine event of any nature.

No claim for cancellation of the sale may be made against the Vendor after the one month warranty period, and only for the aforementioned causes

 

Article 8 – Dissolution of partnerships

 

When a sale is required in order to dissolve a Partnership between co-owners no reserve can be accepted on the total value of the horse.

On the other hand, any one of the co-owners may bid on his/her own behalf for the whole horse and have it knocked down to him. In such case, the purchasing commission will apply exclusively to the part that did not belong to him and the buy-back commission will apply to the part that belonged to him. In the case when one partner buys the share of another, ARQANA and ARQANA TROT shall be released from its payment guarantee does not guarantee payment to the partner selling. The partner selling will be paid by ARQANA and ARQANA TROT as soon as the partner buying has settled for his purchase.

 

Article 9 – Payment to the vendor

 

ARQANA will pay for each horse, after having received the corresponding payment from the purchaser, thirty (30) working days after the sale (and not including the day of the sale), and guarantees total payment to the vendor for each horse sold forty five (45) days after the sale.

This guarantee is not, however, applicable in the case of a bid which is the subject of a dispute, in the case of and according to the terms of Article 13, or if the Vendor expressly agrees to accept such a bid, in spite of ARQANA’s right to re-offer any lot knocked down to an irresponsible bidder who defaults or disappears. The Vendor will not, therefore be paid until payment has reached ARQANA.

In the event of Seizure, Action to Cancel the Sale on the part of the Purchaser, Legal Action between the Purchaser and the Vendor, or if a Third Party makes a claim on the money owing to the Vendor, the guarantee of payment is rendered void.

In other words the Vendor will receive payment after the receipt of funds from the Buyer.

The payment guarantee shall also become null and void if the Vendor owes money to ARQANA.

Furthermore, payment, upon receipt of the funds from the Buyer shall be effected to the Seller minus sums due to ARQANA.

In the case of a sale to dissolve a partnership ARQANA does not guarantee payment to the Seller if one partner buys the share of another. ARQANA will pay the partner selling as soon as it has received payment from the partner buying.

In addition, ARQANA reserves the right to set off the customer’s debts against the amount due to him at the time of the auction.

Vendors subject to VAT have sole responsibility for declaring and paying the VAT to the competent tax authorities.

 

Article 10 - “Folle Enchère opposable au vendeur“ (Irresponsible bid).

 

Within 10 days following the sale, ARQANA and ARQANA TROT may inform the vendor of the purchaser’s default or insufficient guarantees.

 

After having served final notice without result, with the vendor’s agreement, the horse may then be re-offered at the earliest opportunity either by ARQANA and ARQANA TROT or another sale company. The vendor shall have no claims from ARQANA and ARQANA TROT on the difference in price if applicable.

 

The defaulting purchaser will be obliged to pay the difference between the original sale price and that of the resale and will not be entitled to any sum in excess, this sum being accorded to the vendor. Should the vendor not wish for the horse to be re-offered, and having notified ARQANA and ARQANA TROT by registered post, the sale shall be resolved by law and the horse shall be returned to the vendor, without prejudice of damages paid by the defaulting purchaser to the vendor.

 

After 10 days following the sale, ARQANA and ARQANA TROT shall accept responsibility for the guarantee of payment to the vendor, according to the conditions stated in Article 11. From the 11th day, ARQANA and ARQANA TROT, subrogated to the purchaser’s rights and obligations by its payment guarantee, will become the legal owner of the horse and will dispose of all rights related to it, notably retention of title; possibility to undertake proceedings against a defaulting purchaser; re-offer a horse in case of irresponsible bid and claim the difference in price if applicable, any surplus remaining the property of ARQANA and ARQANA TROT.

 

Article 11 - Payment by the buyer - Collection of documents.

 

Payment is due immediately for all sales at public auction, including on Arqana-trot-online.com. Only the seller shall, after the auction, be entitled to authorise the successful bidder, in writing, to pay in accordance with terms and conditions specified in the written agreement. In such a case ARQANA shall pay the seller only after receipt of the buyer’s payment.

 

Any person who bids shall be considered to be bidding for himself and the successful bidder, whose name will be announced in the records, is personally responsible for his purchase. If the successful bidder declares to be acting on behalf of a third party he must produce a written mandate explicitly stating that the successful bidder is together with the third party jointly responsible for the full amount of the purchase.

 

The successful bidder whose name shall be mentioned in the minutes shall be personally responsible for his purchase in the event of his principal’s defaulting. Should the successful bidder not hold explicit mandate to act, ARQANA may consider as joint-debtor whomsoever appears to be, in one way or another, the tacit principal of the successful bidder.

 

No levy, irrespective of the reason, may be applied to the invoices issued by ARQANA. The buyers or their agents shall therefore pay these invoices in full. All payments shall be effected through the agency of ARQANA TROT either by wire transfer, cheque or postal order (as no payment in cash is accepted). Payment for the subjects exported abroad shall be made through Office des Changes (Echange Services) by currency transfer and to the order of ARQANA.

 

Only after payment for their purchases and, when appropriate after signing of the transfer of liability shall the buyers obtain the release notes and the documents regarding their purchases from the secretary of the sales or by applying to ARQANA. Payment shall include the auction price and be increased by the costs of the said auction.

 

These costs, as well as the price shall be payable immediately before the handing over of the documents, failing which, a sale on the basis of irresponsible bid shall be proceeded with.

 

Even in the case of a redhibitory defect, no complaint is admissible if the buyer has not paid the total amount of his purchase.

 

Should the payment not be proceeded to by the purchaser, ARQANA will write to inform the buyer that he has eight days to complete payment or incur interest charges for late payment. After this final delay of eight days, interest will be added to the invoice without any further notice. Interest will be charged at the rate of 0.5% a month from the first day of the sale on the total amount of the invoice and if payment is not made within six months this will be increased to a monthly rate of 0.75% before tax.

 

ARQANA reserves the right to pass unpaid invoices on to its lawyers with a view to taking legal action to recover outstanding debts. Any cost or expense incurred by ARQANA for the recovery of a debt will be the responsibility of and paid for by the debtor or his mandate; these costs will be no less than 10% of the amount to be recovered.

 

In case of a redhibitory vice or dispute the funds shall be withheld at ARQANA.

 

Article 12 - Clause of ownership

 

ARQANA, subrogated by sole virtue of its execution of the guarantee of payment in respect of the rights and obligations of the seller, reserves the right to retain ownership of the horses delivered until full payment of the price and relevant costs has been made. In that respect, the submission of drafts or any other instruments creating an obligation to pay shall not constitute a payment in the sense of this provision. The buyer undertakes to abstain to dispose of the horse through sale, mortgage, lien, loan or any other encumbrance until full payment has been made.

 

Any agent undertakes to inform his principal of the existence of this clause. In the event of a seizure or any other intervention on the part of a third party in respect of the horse as well as in the event of winding up, court administration or liquidation of assets, the buyer shall inform ARQANA immediately.

 

This ownership clause notwithstanding, the buyer shall bear the burden of risks in case of death, accident or disease sustained by the horse. He shall bear all costs regarding the upkeep of the horse sold from the date of the auction. In case of non payment of the price and relevant costs, the horse may be seized wherever it is and, in particular, on the premises of a public or private trainer, if ARQANA sees fit and without any formality. The price obtained shall be deducted from the amount of the auction in principal and costs, the initial buyer remaining liable for the surplus of his bids and any relevant damages.

 

The sale itself shall be cancelled by right and no legal action shall be required to that effect. A simple injunction issued by the President of the relevant Court shall suffice to claim ownership of the unpaid animals.

 

Article 13 - Legal Address

 

ARQANA has the right to ask a foreign buyer to designate an address in France, care of either his trainer or agent or another representative, in the interests of both parties and to facilitate the exchange of information and documents.

 

Article 14 - Release notes

 

No horse either sold or unsold shall leave the premises where it is kept without a release note, which be passed on to the person in charge of the horse after the sale’s outcome has been confirmed.

Once the sale has been pronounced, keep and other costs shall be born by the purchaser.

 

Article 15 – Costs for the vendor’s account

 

Vendor’s commission is 3%.

Buy backs must be notified on the day of sale, failing which vendors will be charged the usual commissions.

 

The vendor shall be liable for any additional tax or due imposed by the government or local district over or above what is currently applicable.

 

Any invoices sent to the vendor shall by due for immediate payment. If immediate payment is not forthcoming, ARQANA will send a reminder within 8 days, after which period interest at 0.75% a month will be added to the vendor’s account from the date of the reminder.

 

Article 16 – Costs for the buyer’s account

 

Buyer’s commission is 6%.

All horses are sold with V.A.T. added on. For the calculation of V.A.T., the basis is the auction price + buyer’s commission. Broodmares that have been covered, fillies out of training and due to be covered, stallions and stallion shares are subject to a 10% V.A.T. rate. All other horses including those of racing age, yearlings and foals are subject to a 20% V.A.T. rate.

 

Calculation of VAT:

 

I - The calculation of VAT distinguishes 5 cases:

 

1. The buyer is French and pays VAT in France: invoicing VAT on the total sale price (VAT can be reclaimed by the buyer).

 

2. The buyer pays VAT in an E.U. member country other than France and supplies his E.U. identification number and the horse is delivered in an E.U. country: exemption from VAT (production of documentary evidence of delivery is compulsory).

 

3. The buyer pays VAT in an E.U. member country other than France and supplies his E.U. identification number and the horse stays in France: invoicing VAT (VAT may be reclaimed from tax services in France).

 

4. If the buyer is not registered for VAT in France or in another country VAT is charged.

 

5. If the horse is exported from the E.U.: exemption of VAT on presentation of customs document confirming export, (the original DAU No 3), and giving ARQANA TROT as the exporter.

 

ARQANA TROT disclaims any responsibility as regards the judicial or tax consequences resulting from a false declaration made by the buyer.

 

 

II - Horses sold under the provisions of temporary importation regulations give rise to four possible outcomes:

 

1. If buyer is registered for VAT in an E.U. country other than France and provides their VAT number and the horse is exported from France to another E.U. country: exemption from VAT on presentation of a document confirming arrival in E.U. country.

 

2. The buyer is registered for VAT in an E.U. country other than France and provides their VAT number and the horse remains in France: VAT charged at 20%.

 

3. The buyer is not an E.U. resident and wishes to keep the horse in temporary importation: no VAT is charged but the buyer meets the costs of the transfer of the temporary importation.

 

4. The horse is exported immediately: exemption from VAT on the condition that the document of temporary import is cleared by the buyer with the Customs Administration.

 

ARQANA disclaims any responsibility as regards the judicial or tax consequences resulting from a false declaration made by the buyer.

 

Article 17 - Commission to Intermediaries

The intermediaries (trainers or bloodstock agents) acting for themselves or the account of an owner(s) in the purchase of a horse and who is present the day of the sale will receive, according to practice, a commission, taken from the owner’s account, on horses purchased for at least 7,000 € :

- 10% (inc.tax) for yearlings and horses in training.

- 5% (inc. tax) for other horses.

This commission will be awarded to the intermediary after payment for the horse(s) has been received, on condition that :

a) his name and details are indicated on the purchase docket as soon as possible after the fall of the hammer. 20 21

b) ARQANA has received an invoice for this commission (10% or 5% including tax of the sale price, with the VAT declared at 10 % or 20 % depending on the rate applied), in the two months following the sale.

If these conditions are not met or the time limit has passed, no commission will be paid by ARQANA. In the case of a dispute arising between Purchaser(s) and Vendor(s), the right of the trainer’s or bloodstock agent’s commission will be cancelled.

No commission will be paid in the case of a buy-back on horses sold to dissolve a partnership.

Article 18 – Compensation for non-presentation of a lot entered on Arqana-trot-online.com

 

The vendor undertakes not to propose or sell any horse whose entry has been accepted by ARQANA and ARQANA TROT and promoted on arqana-trot-online.com.

 

For any horse which is not offered on Arqana-trot-online.com but is sold privately during the month following the sale, even if the private sale is not completed with the concourse of ARQANA and ARQANA TROT, the vendor is liable to pay a flat fee of €5,000 + VAT. ARQANA TROT does not guarantee payment for sales made in these conditions.

 

Article 19 – Entries

 

Vendors and buyers shall comply with regulations from France Galop as regards entries and forfeits of all horses put up for sale.

 

Article 20 – Cancellation of sale

 

In case of cancellation of the sale for any reason, the vendor shall be held liable to reimburse the buyer for the full purchase price and purchaser’s commission as well as all expenses incurred by the buyer on account of the horse while in France until time of cancellation of the sale.

 

In the event of export of the horse, the costs incurred in transport of the horse outside France, keep, and return transport to France shall be born by the buyer.

 

In any case, no action shall be brought against ARQANA who cannot be held responsible. It is expressly understood that the buyer has no right to make any claim except one based on redhibitory vices if any horse sold starts in a race.

 

Article 21 – Jurisdiction

 

All disputes regarding the interpretation or the implementation of the present conditions shall be referred to the commercial court of Lisieux.