Haubot Managed Auctions: Terms & Conditions

1. Scope and Applicability

These Haubot Managed Auction Terms & Conditions apply only to auctions and lots that are expressly labelled on the Haubot platform as "Haubot Managed Auction", "Managed by Haubot", or otherwise clearly identified as being conducted, administered, invoiced, released or managed by Haubot or a Haubot entity.

A Haubot Managed Auction is an auction in which Haubot, or the relevant Haubot entity identified for the auction, may act as auction organiser, selling entity, invoice issuer, payment recipient, release coordinator, post-sale administrator, or any combination of these roles, depending on the details displayed on the lot page, auction page, auction confirmation, invoice or payment instructions.

These Terms do not apply to Seller Managed Auctions, except where expressly incorporated by reference. Auctions created and managed by verified third-party sellers are governed by separate Seller Managed Auction Terms and by the specific terms displayed on the relevant auction or lot page. In Seller Managed Auctions, Haubot generally acts as the platform operator and not as the seller of record, invoice issuer, owner, guarantor, storage provider or release party, unless expressly stated otherwise.

By registering for, bidding in, or purchasing through a Haubot Managed Auction, the bidder confirms that it has read, understood and accepted these Terms.

2. B2B Nature of the Auction

Haubot Managed Auctions are strictly business-to-business transactions. Participation is limited to professional buyers acting in the course of business, trade or professional activity.

Private individuals acting as consumers are not permitted to register, bid, purchase or participate in Haubot Managed Auctions. By registering or placing a bid, each bidder confirms that it is acting as a professional business buyer and not as a consumer.

Any purchase made through a Haubot Managed Auction is deemed to be a commercial transaction between businesses.

3. Haubot Entities and Selling Entity

The relevant Haubot entity for a Haubot Managed Auction may include, but is not limited to:

• Haubot International B.V., Diemerhof 42, 1112 XN Diemen, Netherlands
• Haubot International FZCO, Techno Hub 2, Dubai Digital Park, United Arab Emirates

The specific Haubot entity responsible for a particular auction or lot may be identified on the auction page, lot page, auction confirmation, invoice, payment instruction or other transaction document.

Where a Haubot entity is identified as the selling entity, invoice issuer or payment recipient, the buyer enters into a binding purchase obligation with that Haubot entity or with the party designated in the auction confirmation.

Where a lot is provided by a third-party equipment owner or consignor, Haubot may rely on information, documents, warranties and representations provided by that owner or consignor. The fact that Haubot acts as the auction organiser, invoice issuer or selling entity for platform purposes does not mean that Haubot has independently verified the lot, its ownership, its condition or its documentation beyond what is reasonably available to a platform operator.

4. Registration and Approval

Prospective bidders must complete the online registration process before participating in a Haubot Managed Auction.

Haubot may require the bidder to provide, among other things:

• company registration documents;
• VAT number or tax identification number, where applicable;
• proof of identity of directors, representatives or authorised persons;
• proof of authority to act on behalf of the registered business;
• billing and contact information;
• banking or payment-related information;
• any other documents required for compliance, sanctions, anti-money laundering, export control, fraud prevention or internal risk review.

Haubot may reject, suspend, restrict or cancel a registration at its discretion, including where documents are incomplete, inconsistent, expired, suspicious or insufficient for compliance purposes.

The bidder is responsible for maintaining the confidentiality and security of its account credentials. All bids placed through a bidder's account are deemed to have been placed by the registered bidder, unless Haubot determines otherwise.

5. Buyer Deposit

A refundable Buyer deposit is required before a bid or maximum bid can be placed. The deposit is locked from the bidder's platform wallet and is returned to the wallet on auction close unless the bidder defaults or other platform enforcement consequences apply.

The Buyer deposit is calculated per auction and is sized by tier from the bid amount or maximum bid amount, according to the following USD tiers:

• Bid or maximum bid: less than USD 10,000 — Required Buyer Deposit: USD 100
• Bid or maximum bid: USD 10,000 or more, but less than USD 100,000 — Required Buyer Deposit: USD 1,000
• Bid or maximum bid: USD 100,000 or more, but less than USD 500,000 — Required Buyer Deposit: USD 5,000
• Bid or maximum bid: USD 500,000 or more — Required Buyer Deposit: USD 10,000

For the avoidance of doubt:

• A bid or maximum bid of USD 10,000 requires a Buyer deposit of USD 1,000.
• A bid or maximum bid of USD 100,000 requires a Buyer deposit of USD 5,000.
• A bid or maximum bid of USD 500,000 requires a Buyer deposit of USD 10,000.

If a bidder increases a bid or maximum bid and the new amount falls into a higher deposit tier, the bidder may be required to lock an additional amount equal to the difference between the deposit already locked and the deposit required for the new bid. Haubot may reject, block or suspend the increased bid until the required additional deposit has been successfully locked.

The Buyer deposit is a platform security deposit. It is not payment of the purchase price, not escrow funds, not insurance, not damages, and not compensation for the seller. Where the bidder wins the auction and completes the transaction, the Buyer deposit is released to the wallet — it does not reduce or replace any amount payable to Haubot or to the selling entity.

Haubot may waive, increase, reduce or otherwise modify the deposit requirement for a specific bidder, auction, lot, currency, country, risk profile or payment history at its discretion. Any waiver is granted in writing or by explicit platform configuration and does not extend automatically to other auctions.

6. Bidding Rules

All bids placed in a Haubot Managed Auction are binding and irrevocable.

A bidder may not withdraw, cancel or reduce a bid after it has been placed, except where the platform expressly permits adjustment of a pre-bid before the relevant lot opens for live auction.

The highest valid bid at the close of the auction may result in a binding purchase obligation, subject to any applicable reserve price, provisional sale condition, owner confirmation, compliance review or other condition stated on the lot page or auction page.

Haubot's server-side auction records are the authoritative record of the auction. These records may include bid amounts, bidder IDs, timestamps, auction closing time, reserve status, extensions, bid increments, system logs, confirmation records and related platform data.

In case of discrepancy between the user interface and Haubot's server-side records, Haubot's server-side records shall prevail, unless Haubot determines that a technical error, manipulation or system malfunction occurred.

7. Reserve Prices and Provisional Sales

Certain lots may be subject to a reserve price or minimum sale price.

If the reserve price is not met, the lot may be marked as unsold or provisionally sold. A provisional sale is not binding on Haubot or the owner of the lot unless and until Haubot confirms acceptance of the highest bid.

Where a provisional sale is accepted, priority will normally be given to the highest bidder, unless Haubot determines that another lawful or commercially reasonable process is required.

Haubot may reject, cancel or correct a reserve price where it considers that the reserve price was entered incorrectly, unlawfully, fraudulently or in a way that materially affects auction integrity.

8. Auction Integrity and Prohibited Conduct

Bidders must act honestly and in good faith.

The following conduct is strictly prohibited:

• shill bidding;
• bid manipulation;
• collusive bidding;
• use of fake accounts;
• use of another person's or company's account without authorisation;
• attempting to interfere with the auction process;
• attempting to bypass Haubot's platform, fees, payment process or transaction flow;
• contacting other bidders for the purpose of manipulating prices;
• using automated bidding tools unless expressly permitted by Haubot;
• placing bids without genuine intention or ability to complete the purchase;
• providing false, misleading or incomplete registration or payment information.

Haubot may investigate suspected irregularities and may cancel bids, suspend accounts, cancel an auction, extend an auction, reopen an auction, withhold release of equipment, retain deposits, block users or take other action necessary to preserve the integrity of the auction.

Where a lot is offered by a third-party consignor, the consignor may not bypass Haubot by completing a transaction directly with a buyer introduced through Haubot, the platform, a Haubot auction, inspection, marketing process or related communication.

If the consignor completes or attempts to complete a transaction outside Haubot with a buyer introduced through Haubot, Haubot's commission or success fee shall remain payable as if the transaction had been completed through the platform, without prejudice to any other remedy available to Haubot.

9. Technical Failures and Platform Errors

Haubot may suspend, extend, cancel, reopen, postpone or modify an auction or lot if Haubot determines that such action is reasonably necessary due to:

• technical malfunction;
• system outage;
• incorrect lot data;
• incorrect pricing;
• incorrect reserve price;
• bidding irregularity;
• suspected manipulation;
• cyberattack;
• fraud risk;
• compliance concern;
• material platform error;
• force majeure;
• any other circumstance affecting the fairness, legality or integrity of the auction.

Haubot is not liable for missed bids, failed bids, delays, user-side connectivity problems, browser issues, device problems, email delivery failures or other technical problems outside Haubot's reasonable control.

10. Lot Information, Inspection and Condition

An exposition or inspection period may be provided before the auction, allowing bidders to inspect and evaluate the equipment.

Bidders are strongly encouraged to inspect the equipment personally or through a qualified representative before bidding. Failure to inspect a lot does not release the buyer from its purchase obligation.

Lot descriptions, photographs, catalogues, technical specifications, manufacturing years, meter readings, serial numbers, condition reports and other information are provided in good faith. Haubot endeavours to ensure that information displayed on the platform is accurate, but does not guarantee the completeness or correctness of such information unless expressly stated.

Manufacturing years, model years, operating hours, mileage, serial numbers, technical specifications, dimensions, weights, accessories and configuration details may be approximate, incomplete or based on information available to Haubot at the time of publication.

Serial numbers and other identifying data are not part of the lot description unless expressly stated in the auction confirmation or other binding transaction document. Their absence shall not, by itself, constitute a defect or misrepresentation.

By making a lot available through Haubot, the third-party consignor grants Haubot a worldwide, royalty-free, sublicensable right to use, reproduce, publish, translate, edit, crop, distribute and display listing content, photographs, videos, documents and equipment information for the purpose of marketing, auctioning and selling the equipment, including in any media reasonably necessary to operate and promote the platform.

11. Sale "As Is"

Unless expressly stated otherwise, all equipment is sold "as is", "where is" and with all faults.

No warranty is given regarding condition, fitness for purpose, merchantability, completeness, performance, compliance, exportability, roadworthiness, operational status, safety status, documentation status or suitability for any specific use.

The buyer acknowledges that it is a professional purchaser and is responsible for assessing the condition, suitability, safety, legality and commercial value of the equipment before bidding.

The buyer is responsible for ensuring that the purchased equipment complies with all laws, technical requirements, safety standards, import requirements, registration requirements and operational rules applicable in the destination country or intended place of use.

12. Money Back Guarantee

The Haubot Money Back Guarantee applies only to lots for which the guarantee is expressly displayed on the lot page, auction page, auction catalogue or auction confirmation.

If the Money Back Guarantee is not expressly stated for a lot, no such guarantee applies.

Where the Money Back Guarantee applies, the buyer may cancel the binding purchase only if all applicable return conditions are fully satisfied.

The buyer must:

• pay the full purchase price and all applicable fees and taxes;
• receive the equipment;
• perform any necessary pre-operation safety checks before use or testing;
• notify Haubot in writing of the cancellation request within five business days after delivery of the equipment, and in any case no later than twenty business days after vessel arrival where maritime transport is involved;
• return the equipment to the Haubot yard or another location designated by Haubot;
• return the equipment without undue delay;
• return the equipment in the same condition as received, allowing only reasonable inspection and testing;
• cooperate with Haubot in relation to ownership transfer, customs documents, release documents and any other administrative requirements;
• allow Haubot to inspect the returned equipment before any refund is issued.

Haubot may reject a return if the equipment has been damaged, dismantled, modified, used beyond reasonable testing, exported without proper documentation, operated unsafely, altered, repaired, stripped of parts or otherwise returned in a condition different from the condition in which it was released.

If Haubot accepts the return, the purchase price paid for the relevant equipment will be refunded by bank transfer within ten business days after Haubot regains possession of the equipment and confirms that the return conditions have been satisfied.

Unless expressly stated otherwise, the Money Back Guarantee does not cover transport costs, loading costs, unloading costs, customs duties, import duties, export costs, storage charges, inspection costs, repair costs, financing costs, loss of profit, downtime, consequential losses or any third-party costs.

13. Price, Fees and Taxes

The sale price, whether referred to as the hammer price, adjudication price or winning bid, is exclusive of VAT and other applicable taxes unless expressly stated otherwise.

Applicable fees, commissions, buyer premiums, seller fees, administrative fees, payment handling fees, inspection fees, documentation fees, logistics fees, storage fees and other charges may be displayed on the auction page, lot page, fee schedule, invoice or auction confirmation.

Unless otherwise stated, Haubot may charge a seller fee based on the sale price. The applicable fee structure may differ depending on auction type, country, category, service level, seller arrangement and transaction structure.

The local VAT applicable on the day of the auction or invoice, according to the legislation of the selling country, will normally be added to the sale price and applicable fees.

For EU buyers outside the selling country, final billing with a 0% VAT rate may apply only if the buyer provides a valid VAT number and complete proof of intra-community delivery, including complete and officially signed transport documents such as CMR documentation.

Until all required documents are received and accepted, Haubot may require full VAT payment or a VAT deposit. The buyer remains responsible for providing complete and correct documentation.

For non-EU buyers, the buyer may initially be invoiced including a VAT deposit. The VAT deposit may be refunded or adjusted to 0% only after Haubot receives and accepts complete export proof, including export documents and exit confirmation, such as EX1, EXA or equivalent documents.

Haubot may waive the VAT deposit requirement where an approved shipping company or approved export process is used.

Buyers located in the same country as the selling entity will be charged the applicable domestic VAT rate.

The buyer is responsible for all taxes, duties, import charges, customs charges, levies, registration costs and other public charges applicable outside the selling country.

14. Payment

Payment must be made by bank transfer within five calendar days after the auction, unless a different payment deadline is stated on the invoice, auction confirmation or payment instruction.

Payment is deemed made only when cleared funds are received in the bank account specified by Haubot.

The buyer must use only the official payment instructions provided through the Haubot platform, official invoice, official email domain or other verified Haubot communication channel.

Haubot is not responsible for payments made to incorrect, fraudulent or unauthorised bank accounts where the buyer relied on payment instructions received outside official Haubot channels or failed to verify changed payment details.

If the buyer fails to pay on time, Haubot may charge administrative fees, reminder fees, penalty interest, storage fees, resale losses, collection costs, legal costs and other damages.

Administrative fees are set at EUR 50 per payment reminder, unless a higher amount is stated on the invoice or permitted by law.

Penalty interest may be charged at the rate used by the European Central Bank for its main refinancing operation, plus seven percentage points, rounded up to the next half-percentage point, or at the maximum rate permitted by applicable law.

Haubot may suspend the buyer's account, retain deposits, cancel the sale, resell the lot, claim damages or refuse future participation if the buyer fails to pay.

15. Release, Pick-Up and Loading

Purchased equipment may be released only after Haubot has received full payment of the purchase price, applicable VAT, fees, deposits, storage charges and any other outstanding amounts.

The buyer must inform Haubot in advance of the intended pick-up date and must comply with Haubot's release procedure.

Equipment must be collected within twenty-one calendar days after the auction, unless a different deadline is stated on the auction page, invoice, auction confirmation or release instruction.

If the buyer fails to collect the equipment on time, Haubot may charge a storage fee of EUR 15 per lot per day, unless a different storage fee is stated for the relevant auction or lot.

Haubot may refuse loading or release if:

• payment has not been received in full;
• required documents are missing;
• the proposed transport is unsafe or unsuitable;
• the driver or transport company lacks proper authorisation;
• the release may violate customs, export, sanctions, safety or legal requirements;
• the buyer has outstanding debts to Haubot;
• Haubot reasonably suspects fraud, misuse or irregularity.

Only complete and officially signed CMR documents or other transport documents accepted by Haubot will be treated as valid proof of transport.

Cross-border transport must be carried out by professional transport companies, unless Haubot expressly approves another arrangement.

Risk in the equipment transfers to the buyer upon release, loading or handover, whichever occurs first, unless mandatory law or the auction confirmation provides otherwise.

Where a lot is offered by a third-party consignor, the consignor must keep the equipment available for sale, must not sell, lease, remove, dismantle, materially alter or encumber the equipment during the managed auction period, and must make it available for release after completion of the sale.

Where equipment is located at a third-party site, release may depend on site access, consignor cooperation, transport arrangements and completion of required documents. Haubot is not responsible for delays caused by site unavailability, consignor non-cooperation or third-party logistics constraints, and may extend release timelines accordingly without becoming liable to the buyer.

16. Ownership and Title

Ownership of the equipment transfers only after Haubot has received full payment of all amounts due and the equipment has been released, unless the auction confirmation, invoice or mandatory law provides otherwise.

Haubot may withhold release documents, export documents, invoices, ownership documents or other transaction documents until all amounts due have been paid and all compliance requirements have been satisfied.

Where a lot is offered by a third-party consignor, the consignor represents and warrants to Haubot that it owns the equipment, has authority to sell it, the equipment is free from undisclosed liens, pledges, seizures, title disputes or third-party rights, and all information provided to Haubot is accurate and complete. The consignor shall indemnify Haubot for any claim arising from a breach of these representations.

17. Buyer's Compliance Responsibilities

The buyer is responsible for ensuring compliance with all applicable laws and regulations relating to the purchase, payment, transport, export, import, registration, operation, use and resale of the equipment.

This includes, where applicable:

• customs rules;
• VAT and tax rules;
• sanctions laws;
• export control laws;
• import restrictions;
• anti-money laundering laws;
• anti-bribery and anti-corruption laws;
• environmental laws;
• transport safety rules;
• roadworthiness rules;
• equipment safety standards;
• licensing and registration requirements;
• rules concerning hazardous substances, fluids, batteries, asbestos or other regulated materials.

Haubot may refuse registration, block bidding, suspend payment processing, cancel a sale, withhold equipment, refuse release or terminate a transaction if Haubot determines that the transaction may violate applicable laws, sanctions, export controls, compliance requirements or internal risk policies.

18. Restricted and Prohibited Transactions

Haubot may refuse to auction, sell or release equipment where the equipment, buyer, destination, end use, transport route, payment method or transaction structure creates an unacceptable legal, compliance, sanctions, export control, fraud or reputational risk.

The buyer may not purchase equipment for prohibited, restricted, sanctioned, unlawful or misleading purposes.

The buyer must not resell, export, re-export, transfer or make available any equipment in violation of applicable sanctions, export control, customs or end-use restrictions.

19. Buyer Default

The buyer is in default if it:

• fails to pay on time;
• fails to provide required documents;
• fails to collect the equipment on time;
• refuses to complete the transaction;
• provides false or misleading information;
• fails compliance checks;
• attempts to reverse, block or dispute a valid payment without lawful basis;
• breaches these Terms;
• otherwise acts in a way that prevents completion of the sale.

In case of buyer default, Haubot may, without prejudice to any other rights:

• cancel the sale;
• retain the security deposit;
• charge administrative fees and penalty interest;
• charge storage fees;
• resell the lot privately or by auction;
• claim the difference between the original sale price and resale price;
• claim damages and costs;
• suspend or terminate the buyer's account;
• refuse future bidding privileges;
• set off amounts owed by the buyer against any amounts held by Haubot.

20. Haubot's Right to Cancel or Refuse Completion

Haubot may cancel, suspend or refuse completion of a sale before or after auction closing if:

• a material error occurred;
• the lot was incorrectly described;
• the lot is unavailable, damaged, stolen, seized or subject to a title dispute;
• the transaction may breach legal, tax, customs, sanctions or export control rules;
• fraud or manipulation is suspected;
• the buyer or related party fails compliance checks;
• payment is suspicious or incomplete;
• the auction process was compromised;
• completion would expose Haubot to legal or regulatory risk;
• another serious reason makes completion commercially or legally unreasonable.

Where Haubot cancels a sale without buyer default, Haubot's liability is limited to refunding amounts actually paid by the buyer for the cancelled lot, unless mandatory law provides otherwise.

21. Limitation of Liability

To the maximum extent permitted by law, Haubot is not liable for indirect damages, consequential damages, loss of profit, loss of business, loss of opportunity, loss of use, downtime, financing costs, transport costs, customs consequences, import issues, resale losses, reputational damage or third-party claims.

Haubot's total liability in relation to a lot shall not exceed the amount actually paid by the buyer to Haubot for that lot, unless mandatory law provides otherwise.

Nothing in these Terms limits liability for fraud, intentional misconduct, gross negligence or any liability that cannot be excluded under applicable law.

22. Platform Records, Documents and Communications

The buyer agrees that Haubot may rely on electronic records, platform logs, bid histories, timestamps, auction confirmations, invoices, payment records, email records and system-generated documents as evidence of the transaction.

Auction confirmations, invoices, release instructions and payment instructions may be issued electronically.

The buyer must ensure that its contact details remain accurate and that it monitors email, platform notifications and other communication channels used by Haubot.

23. Data, Verification and Compliance Checks

Haubot may collect, process, verify and retain information relating to bidders, buyers, representatives, transactions, payments, equipment, shipping, compliance checks and platform activity.

Haubot may use third-party service providers for identity verification, sanctions screening, fraud prevention, payment verification, document review, logistics support, compliance checks and other operational purposes.

Participation in a Haubot Managed Auction may be refused or restricted where the buyer does not provide required information or where verification cannot be completed to Haubot's satisfaction.

24. Amendments and Specific Lot Terms

Haubot may update these Terms from time to time.

The version applicable to a bid or purchase is the version in effect at the time the bid is placed, unless mandatory law or a specific written agreement provides otherwise.

Specific terms displayed on a lot page, auction page, auction confirmation, invoice or written Haubot instruction may supplement these Terms. In case of conflict, the more specific transaction document shall prevail over these general Terms, unless it is clearly erroneous or unlawful.

25. Governing Law and Jurisdiction

These Terms and all Haubot Managed Auctions are governed by the laws of the Netherlands, unless overriding mandatory law provides otherwise.

Any dispute arising out of or in connection with a Haubot Managed Auction, these Terms, a bid, a purchase, an invoice, a payment, a release or related transaction shall be submitted to the competent courts of Amsterdam, Netherlands, unless mandatory law requires another jurisdiction.

26. Final Provisions

If any provision of these Terms is held to be invalid, unlawful or unenforceable, the remaining provisions shall remain in full force and effect.

Failure by Haubot to enforce any provision of these Terms shall not constitute a waiver of that provision.

Headings are for convenience only and do not affect interpretation.

These Terms apply together with any applicable platform terms, privacy policy, fee schedule, auction confirmation, invoice, payment instruction, release instruction and lot-specific conditions.