regolamento bonus sire - aste sga

ted as from the first paragraph of the following article, if the purchaser still in debt with S.G.A., S.G.A. will charge
Euro 250,00 as dues for expensive refound of the costs for the reclaim of bad debts.
The payment for horses to be exported must be effected according to the provisions in force through the Italian
Exchange Control Office. S.G.A. shall provide the relative assistance. A similar interest rate shall be applied
on the auction fees due to S.G.A..
S.G.A. has the authority to transfer the credit to a third party or ask banks for the advance of it.
Art. 13 – IDENTIFYING AND TRANSFER OF OWNERSHIP DOCUMENTS
All documents identifying the horse purchased shall be delivered to purchaser and ownership shall be transferred
only after full payment has been made of the sale price and of the auction fees to S.G.A., and the receipt
of a statement from the principal releasing S.G.A. for the sale price.
Art. 14 – PAYMENT TO PRINCIPAL
Being understood as expected from Article 12, S.G.A. normally effects payment to the principal 60 days after
invoice issue. In the case, in the mean time, a dispute develop between the principal and the buyer takes place,
the payment will be suspended until the resolution of the dispute.
Art. 15 – PURCHASES BY ITALIAN NON-RESIDENTS
Non-resident buyers who, by taking part in the sales intend to make bids, may do so only if the horse is destined
for export.
In the case to the contrary, they may only operate through an principal having been duly empowered with an
authenticated special power of attorney, who shall take on, on his own behalf, the obligation relative to the
payment of the price and ancillary charges.
The invoice will be issued in the name of the non-resident (who must duly have an Italian fiscal code number)
and for him to his representative in Italy as indicated above.
Art. 16 – AUCTION FEES AND CHARGES DUE BY THE PRINCIPAL AND THE BUYER
CHARGEABLE TO PRINCIPAL:
ENTRY FEE for the sale is fixed in:
- Euro 200,00 (+VAT 21%) for the yearlings, mares, horse out of training, horse in training and sires
- Euro 100,00 (+VAT 21%) for the yearlings enrolled in the current year selected yearling sale
The amount entitles horses entered to be kept free of charge during the period of the auction.
Should a horse appearing in the catalogue be absent, nothing will be due in the case of death, duly documented
by a ASL vet certificate or in the case of injury, also documented by a vet certificate to produce no later
than 48 hours before the beginning of the sale, that will be accepted by S.G.A.
In this case S.G.A. reserves to verify the entity of the damage through a fiscal examination.
In all other cases, together with the entry fee the principal has to pay:
ABSENCE FEE, fixed in
- 2% of the average price of the auction day
No horse registered in the sale can take part in foreign and Italian sales prior to the Sale, otherwise it shall be
excluded from the Sale. Such horse will be entitled for payment of: entry fee, absence fee, a penalty equal to
the entry fee.
BUY BACK FEE (exempt amount is Euro 2.000,00)
- In the case of buy-back, immediately declared on the knocking down form, or due to the fixation of a reserve
price: 2% (+VAT 21%) of the buy-back price, net of the exempt amount.
- In all other cases: 5% (+VAT 21%) of the final selling price.
COMMISSION FEE
- 2% (+VAT 21%) on the sale price;
- refund of expenses of personnel who may be used for the presentation of the horses.
S.G.A. is authorized to withhold the above-mentioned amount from the sale price paid.
The sale document is normally issued according to the following provisions:
1) principal subject to normal V.A.T. regime who applies the tax in the ordinary way pursuant to paragraph 11
of article 34 of Presidential Decree 633/72:
- invoice with application of V.A.T. of 21% on sale price
2) principal who is agricultural producer subject to special agricultural regime:
a) farmers subject to special non exemption regime with any volume of turnover:
- invoice with application of V.A.T. of 21% on the sale price;
b) farmers subject to special exemption regime with a turnover – achieved in the previous calendar year – up