End of Season Sale on Friday, 19th April 2013 : Entries Close on 5th April 2013
Posted on - 18 Mar 2013
ROYAL WESTERN INDIA TURF CLUB, LTD.
RACE COURSE, MAHALAKSHMI
MUMBAI – 400 034
END OF THE SEASON SALE
Friday, 19th April 2013
General
1. With a view to provide an end of the season opportunity for sale of horses, the Royal Western India Turf Club, Ltd. is proposing to hold a one day sale on 19th April 2013 at the Paddock, Mahalakshmi Race Course, Mumbai at 5.00 p.m.
Horses Eligible
2. All horses stabled in the Race Course, Mumbai under the charge of an “A” Licensed Trainer are eligible to be entered for the Sale. However, horses that are under any lease or financial assistance are not eligible for being entered in the Sale till such time as their lease is terminated and / or the financial assistance dues are settled in full.
Entries
3. Entries can be made by owners or their Authorized Agents on the form provided at http://www.rwitc.com/sale.pdf. Entries will be accepted during working hours in the Racing Department of the Club on all working days.
Closing of Entries
4. Entries close at 4.00 pm on 5th April 2013.
Rolling
5. Rolling of Horses will take place if there are sufficient number of entries received for the Sale in which case the place and time of rolling will be intimated later.
Publicity
6. The performance details of the horse being sold will be made available to all prospective buyers. Information regarding the Sale will also be sent to outstation trainers, stud farms, riding / polo clubs, Sainik / Military Schools, etc.
Commissions and Taxes
7. Horses sold in the ring will attract a commission of 3%. Horses bought-in will attract a commission of 3% on the Reserve price. All Government taxes will be payable as per the rules in force.
Terms and Conditions
8. All other terms and conditions will be as published in the 2 YO RWITC Catalogue of 2013 Annual Sale. The Sale will be held only if there is sufficient number of entries.
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CONDITIONS OF END OF THE SEASON SALE 2013
For the purpose of the following Conditions of Sale the expression “vendor”, “purchaser”, “sale” and “sold” shall be deemed to include “lessor”, “lessee”, “lease” and “leased” respectively.
These Conditions of Sale do not in any manner whatsoever, spell out Conditions of Eligibility for future Sales to be conducted by Royal Western India Turf Club Ltd. (“R.W.I.T.C., Ltd.”) and any horse entered in this Sale is not automatically eligible for future Sales. Eligibility for future Sales will be as specified in the letter inviting entries for that Sale.
Buying of a Horse at the Sale will not entitle the Purchaser a Stable for his/ her horse. Stable will be provided as per the norms for Stabling of Horses in practice.
EXAMINATION OF HORSES
1. Each Horse shall be at the Vendor’s entire risk for any loss, damage or injury whether by disease, accident, willful or negligent act or default of any person, natural cause or otherwise.
2. The R.W.I.T.C., Ltd. shall in no way be liable for any damage or injury, caused by any horse at any time, either to the attendant of the horse or to third parties.
3. Any loss or theft of the Vendor’s or visitor’s properties or any injury or accident to the Vendor’s or visitor’s or their employees at Sales Stables/Parade Ring/Holding Area or sales paddock will not be the responsibility of the R.W.I.T.C., Ltd.
4. Any Horse may be examined by previous arrangement with the consent of the Vendor or his representative.
5. All Horses entered for the Sale must pass through the Auction Ring unless:-
(a) their Sale form is duly lodged with the Club; or,
(b) their withdrawal form or a letter to this effect is duly lodged with the Club.
Rolling
6. Rolling of horses will be carried out if there are sufficient number of entries received, in which case the place and time of rolling will be intimated later.
7. The Vendors are solely responsible for the accuracy of all information concerning their horses.
8. While every effort has been made to ensure the accuracy of the information contained therein, it is possible for inadvertant errors to happen and the R.W.I.T.C., Ltd. will not accept liability for any loss resulting to any party from any such errors or omissions.
9. No errors of descriptions either as to quality, pedigree, performance or engagements shall vitiate the sale of any Horse nor shall the purchaser be entitled to any rebate or allowance.
10. No warranty of any nature whatsoever is given or implied with any Horse offered and all Horses are open to inspection prior to the commencement of the Sales. EACH HORSE IS SOLD WITH ALL FAULTS, IF ANY.
Withdrawals
11. No withdrawal charge will be payable for any Horses withdrawn but the withdrawal form will have to be lodged. All horses not so withdrawn or whose sale is not registered with the Club, must pass through the Sale Ring.
12. On the day of the Sale, no horse can be withdrawn after it has left the stabling area and has entered the “Holding Area”. There will be a minimum of four horses in the “Holding Area” at any given time.
Bidding At The Auction
13. The highest bidder at or over the Vendor’s reserve, if any, to be the purchaser and if any dispute arises between two or more bidders, the Horse so disputed shall immediately be put up again and resold. The R.W.I.T.C., Ltd. reserves the right to reject any or all bids.
14. The R.W.I.T.C., Ltd. reserve to themselves the right to sell without reserve unless written orders to the contrary are sent before the Sale and Vendors reserve to themselves the right to bid through the Auctioneer as their agent as often as they please.
15. The minimum starting bid shall be Rs. 10,000/-. Bidders shall advance by Rs. 1,000/- till Rs. 1,00,000/-, Rs. 5,000/- till Rs. 3,00,000/- and Rs. 10,000/- thereafter.
16. Terms : CASH.
17. Every purchaser, who is not an Approved Owner or a Member of the R.W.I.T.C., Ltd. shall pay 50% of the sale price in cash immediately on the fall of the hammer as a deposit and the balance 50% shall be paid within 24 hours of the Sale, failing which, the deposit of 50% will be forfeited and the concerned Horse will be put up again for resale and resold at the discretion of the R.W.I.T.C., Ltd.
18. Should the highest bidder fail to sign the Auctioneer’s Card and deposit 50% of the sale price as provided for above, the concerned horse will be put up for auction again as soon as feasible with the same reserve price, if any. While the R.W.I.T.C., Ltd. will endeavour to take such action as is warranted or possible against such a defaulter, it will not be liable for any damages to the Vendor on account of the default.
19. If a Trainer bids for a Horse at the Sales and a default is committed with regard to payment thereof, the said Trainer will be held solely responsible for payment of the purchase price, etc of the said Horse and will be placed on the Unpaid Forfeit List with all its attendant consequences as per the Rules of Racing.
20. If any person shall purchase a Horse and not pay for it within the time limit, nothing contained in these conditions shall prevent the R.W.I.T.C., Ltd. and/or Owner of the Horse from compelling the purchaser to pay for it by such action as they think fit, if the R.W.I.T.C., Ltd. and/or the Owner shall so desire.
21. If a person declared by the Club to be the purchaser of a horse either in the ring or by private treaty duly registered with the Club fails to perform and/or honour the agreement entered into by him/her for the purchase of a racehorse at the Sale held under the auspices of the Club (the decision of the Committee as to whether such a person has failed to perform or honour the written agreement of purchase or not will be final and conclusive and binding on the person concerned) or fails to observe undertakings given by him/her to the Club, such person shall be liable to undergo such punishment as may be deemed fit by the Committee at its discretion, including being placed on the Unpaid Forfeit List with all its attendant consequences as per the Rules of Racing.
22. Notwithstanding the above, it shall be open to the Owners of the Horse to give such further time to the purchaser for the payment of purchase money as may be mutually agreed between them and communicated to the Club.
23. Purchasers are advised in their own interest to maintain sufficient amount in deposit with the R.W.I.T.C., Ltd. to cover the purchase money of the Horses intended to be purchased by them at the Sales.
24. If the purchaser shall fail to comply with these Conditions or any of them, any money which he shall have paid to the R.W.I.T.C., Ltd on account of his purchase shall be absolutely forfeited to the R.W.I.T.C., Ltd. and the Owner and/or the R.W.I.T.C., Ltd. shall be at liberty to sue such purchaser for breach of contract, or at their option to resell the Horse/s in any manner and upon such terms and conditions as they may think proper, and all loss and expenses, consequent upon such resale and all damages which the R.W.I.T.C., Ltd. may sustain thereby shall be recoverable by them from the purchaser as and for liquidated damages, and it shall not be necessary to give any notice of such resale to the defaulter.
25. Horses may be bought-in by Owners or their Authorised Agents through the Auctioneer only. The full commission of 3% on the last bid, shall be charged for all horses declared sold by the Auctioneer irrespective of the fact that it may be signed for by the owner concerned.
Commissions
26. The Club will charge commission on all Horses entered in the Sale. The Commission will be charged as under:-
(a) Horses sold/leased in the Ring. 3% of the last bid.
If there is no bid in the Auction Ring for any Horse, an offering fee of Rs. 3,000/- will be charged.
(b) Horses bought-in. 3% of the Reserve Price.
(c) Horses sold/leased outside the Ring
(i) If a Horse is sold/leased with a contingency and the contingency amount is quantified then 3% commission or Rs. 3,000/- whichever is higher, will be charged on the combined sale price as well as on the contingency amount.
(ii) If a Horse is sold/leased with a contingency but contingency amount is not quantified, then 3% commission or Rs. 3,000/- whichever is higher, will be charged on the sale price and a further sum of Rs. 2,500/- will be charged as commission for the non-quantified contingency.
(iii) If a Horse is sold/leased only on contingency and no sale price is declared nor contingency amount is quantified, a sum of Rs. 3,000/- only will be charged as commission.
27. In all the above cases, the date of the sale will be the date on which the sale deed is received in the Registered Office of the R.W.I.T.C., Ltd. and not the date put on the sale deed or the date on which the sale deed is posted or despatched.
Taxes
28. Value Added Tax, Service Tax on arrival, Sales Tax, or any other tax/cess as prescribed by Government will be recovered from the Purchaser on the purchase price of any Horse purchased in the State of Maharashtra. In case a Vendor informs the R.W.I.T.C., Ltd. that he has received his dues directly from the purchaser and therefore given delivery of the horse without the purchaser having paid the value added Tax as applicable then such Vendor shall become liable to make good to the R.W.I.T.C., Ltd. such amount of value added Tax as may not be recovered by them from the purchaser within 15 days of the last day of the Sale. It would therefore be in the interest of all Vendors not to give direct delivery of a horse even if they have received the entire purchase money directly but do so only through the R.W.I.T.C., Ltd.
29. The Vendor shall be entitled to receive the purchase money as soon as possible after the Sales provided the Club shall have by then received the purchase money and due taxes and/or delivered the Horse out of their custody, but not before.
Delivery of Horses and Removal from Stables
30. All Horses to be settled for in full before delivery is effected. In case a Horse is not paid for by the highest bidder, declared to be the Purchaser thereof within 24 hours from the time of its having been knocked down to him at the Auction, it shall be open to the R.W.I.T.C., Ltd. or the Owner to put up the Horse for resale by Public Auction, and the deficiency on such resale will have to be made good immediately by the defaulter of the first Sale. The R.W.I.T.C., Ltd. will not be responsible to the Owner of the Horse for any deficiency on such resale.
31. Custody and possession of any Horse sold under the hammer shall remain with the Vendors until they are directed by the R.W.I.T.C., Ltd. to deliver the Horse to the Purchaser or his Agent. No order or directions to deliver such Horse will be given to the Vendor by the R.W.I.T.C., Ltd. until payment in full and taxes have been received by them from the Purchaser.
32. No Horse can be removed from the Stables either by the Vendor or the Purchaser, unless a “Clearance Certificate”/ “Gate Pass” from the Accounts Department is lodged with the Stable Supervisor. Removal of horses without lodging of such a Certificate is an offense which will be reported to the Committee and will make the person concerned to become liable for payment of all dues like, taxes, commission, forfeits, etc. of any and every nature whatsoever which are payable under any of the clauses of the conditions of sale.
33. All horses must vacate the Sale Stables by 30th April 2013. Horses staying on in the RWITC Stables after 30th April 2013 (unless a Western India trainer has taken proper charge), will be liable to pay stable rent of Rs. 300/- per day per horse for the first 15 days, Rs. 500/- per day per horse for the next 15 days and Rs. 1,000/- per day per horse thereafter. Names of vendors/owners who overstay will also be reported to the Committee for further action as deemed appropriate.
Purchasers Not Taking Delivery In Time
34. Delivery of a Horse must be taken by the Purchaser within 48 hours of the fall of the hammer. Vendors may, if they so desire, hand over to the Club such Horses whose delivery is not taken. The Club will hand over such Horses to the Purchaser/s only on payment of upkeep charges in cash of Rs. 400/- per day, or part thereof, of their stay in the Club’s custody. The Horses will be considered to have been held at the Purchaser’s request and risk, and the Club will accept no responsibility for them. This facility is only applicable to horses sold under the hammer.
35. Passport of a Horse purchased at the Sales or otherwise will NOT be handed over to the Purchaser or the Owner or his Authorised Agent until full payment towards purchase price plus Sales Tax, Withdrawal Forfeits etc. and/or such other dues payable in accordance with the Conditions of Sale have been made.
Clearance of Account
36. Vendors (the person/persons making the entry) are required to obtain a copy of a special Clearance Certificate, duly signed and stamped by Accounts Department of the R.W.I.T.C., Ltd.
37. Accounts Department, R.W.I.T.C., Ltd. will submit to the Secretary a consolidated list of Vendors who have not obtained this Clearance. The Secretary will then take the following action :-
(a) Report the names of such Vendors to the Committee.
(b) Arrange to post such Vendors/their authorised agents on the UNPAID FORFEIT LIST.
(c) Refuse to accept entries of such Vendors for Sale for any future Sales conducted by the RWITC Ltd unless all charges are paid in advance.
Claims
38. No claim for any expenses or loss supposedly incurred by the Owner in respect of any Horse will be entertained by the Club.
Jurisdiction
39. The Committee of the R.W.I.T.C., Ltd. reserves the right, in its absolute discretion, to amend, modify and add to or delete any existing clauses in the letter Inviting Entries and the Conditions of Sale.
40. The Committee of the Royal Western India Turf Club, Ltd., reserves to itself the right, for any reason it may consider sufficient, to prevent any horse from being put up for sale/lease even after it has been included in the Sale.
41. The decision of the Committee of the Royal Western India Turf Club, Ltd. on all matters pertaining to the End of the Season Sale 2013, shall be final and binding on all concerned.
42. The act of any person in submitting an entry for the Sale implies his specific acceptance of the fact that all decisions of the R.W.I.T.C., Ltd., shall be subject to the jurisdiction of the Competent Court in the City of Mumbai only, to the exclusion of all other legal jurisdictions, if any.
43. Persons, Vendors etc, participating in the Sale in any manner including submitting entries in the prescribed form would be deemed to have given consent to be bound by these “Conditions of Sale” as also the terms contained in the Letter Inviting Entries Sale.
By Order of the Committee
B. A. ENGINEER
Secretary
ROYAL WESTERN INDIA TURF CLUB, LTD.
