Conditions of Sale
Al Khalediah Agriculture Co. Ltd. (“Al Khalediah”)
A. Conditions for Acceptance of Sale
AKF guarantees that all horses will be offered for genuine sale but are subject to the following conditions:
1. All horses must be registered in the Kingdom of Saudi Arabia.
2. It is the responsibility of Al Khalediah Farm to ensure that all horses offered for sale have been vaccinated. Any horse which is deemed upon inspection on the day of sale not to have its vaccination up to date will not be permitted to enter the sale ring.
3. Only horses which are positively identified by Al Khalediah Committee will be allowed into the sales ring.
B. Buyer Registration
Each prospective buyer must:
1. Be at least 18 years old.
2. Complete and sign a Bidding Registration Form supplied by Al Khalediah.
3. Deposit the sum of SR 5,000 which may be in the form of cash or (Draft cheque) in the name of Al-Khalediah Agricultural Co. Ltd. Such Deposit will enable the prospective purchaser to secure a number entitling him to bid for a horse (“Bidding Number”). Each Bidding Number is for personal use only and the prospective purchaser in whose name the Bidding Number is registered will be personally responsible for all purchases, keep fees and associated charges awarded against such Bidding Number.
4. The Deposit will be refunded in full should no purchase be made or adjusted against any purchase price or keep fees. A refund of the deposit will be arranged within seven days of the sale.
C. Acceptance of Bids
1. Bids will only be accepted from registered bidders who are in possession of a Bidding Number.
2. The sale is conducted on a “buyer beware” principle with no guarantee on any purchase.
3. Each lot becomes the property of the highest bidder al the fall of the auctioneer’s hammer and all risk in the horse shall pass to the purchaser (“Purchaser”) at this time.
4. The Purchaser shall assume the responsibility for all cost and expenses related to the care, custody and control of such horse. If the Purchaser fails to comply with this condition he will forfeit his deposit.
5. At the completion of each sale, the Purchaser shall complete and sign the “Acknowledgment of Purchase” form.
D. Payment
1. Full payment of the purchase price and all keep charges shall be made to Al Khalediah within 14 days of the sale. If the Purchaser fails to make full payment by this time, the sale shall be considered null and void and such horse will revert to the property of the original owner and the prospective purchaser’s deposit will be forfeited.
2. All payments must be done through Finance Department of the Auction by cash, telex transfer or draft cheque made payable to Al Khalediah Agricultural Co. Ltd.
3. All horses sold will be taken care of free of charge for 3 weeks after the sale. If a horse is not collected within 3 weeks, the Purchaser will be charged a keep fee of SR [200] for each additional day.
4. After payment, it is necessary to obtain Horse Collection Form from the Finance Department of the Auction.
E. Collection
1. After receiving the full payment from the purchaser, Al Khalediah Horse Stable will transfer the ownership of the sold Horses in the name of purchaser after getting all the official documents from the Registration office in the Kingdom such as health certificates etc. before collection.
2. Purchasers are responsible for the removal, transportation and where appropriate, exportation (and all associated costs) of their horse according to the Rules of Ministry of Agriculture and Fisheries, Kingdom of Saudi Arabia.
3. The Purchaser shall present the “Horse Collection Form” to the official stable representative when the horse is collected.
4. It is not allowed to hand over any of the sold horses without Horse Collection Form issued from the Finance Department of the Auction, otherwise it is considered violation of the Auction rules.
F. Dispute Resolution
1. In the case of any dispute related to any matter concerning a sale the decision of the Auction Committee shall be final and binding on all the parties.