About the auction

We have ongoing auctions of equipment, machines and vehicles within several industies. All auctions and sale processes are handled by SG Finans, which ensure you a serious trade without any unnecessary extra fees.

Registration

The bidder/buyer must register on www.sgfinans.no/auksjon as a private person, company or other legal entity, before participating at the web auctions through SG Finans AS.

Binding bid

Binding bid is given when the bid is recieved on SG Finans' web auction. All bids given through My account registered on www.sgfinans.no is considered as binding given by the account holder. This applies regardless of whether it is someone else than the account holder that has placed the bid.

Payment

The buyer is obliged to pay the purchase price to bank account 8101.07.87661 within 5 business days (Monday to Friday except public holydays) after the buyer has recieved an acceptance of the offer, unless expressly agreed otherwise.

Delivery

The buyer will recieve a confirmation from SG Finans AS when the payment is registered payd to SG Finans AS. The delivery of the purchased equipment to the buyer can take place no sooner than after the payment is confirmed. The buyer will then be contacted with information about the delivery.

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Terms and conditions

To participate at SG Finans' auctions, given terms must be met and accepted before, during and after auction closure.

1 INTRODUCTION

The terms for buying and selling through SG Finans' web auction determine the rights and obligations of the bidder, buyer and SG Finans ASs (seller) towards each other, as well as the purchase and sale of assets through the web auction. The parties are bound by the current Terms and Conditions, as they are available at www.sgfinans.no at any time by submitting the bid from the Bidder / Buyer.

Bidder / Buyer is encouraged and responsible for carefully reading the current Terms and Conditions before submitting a bid.


2 REGISTRATION

To participate in the online auction through www.sgfinans.no, Bidder / Buyer must register on www.sgfinans.no as an individual, company or other legal entity.

When registering, Bidder / Buyer must provide username (e-mail address), password and mobile number. To activate user account, you must enter the code received by e-mail. This is a security feature for the registered person/entity.

If the Terms are accepted, registration will be completed and you will be listed with your own account ("My Account") at www.sgfinans.no. Confirmation that the registered is listed with My Account will be sent by e-mail. The registered person/entity will then be able to bid on www.sgfinans.no.

The registered person/entity is obliged to ensure that all registered information in My Account is updated and correct at all times.

Bids received from My Account will be binding on the person/entity who is registered as the account holder, cf. Section 6.5. It is therefore important that the registered person/entity keeps the username and password in a safe way, and that passwords are not known to others or can be detected.

Only people over the age of 18 can register as private individuals with My Account.


3 PROCESSING OF PERSONAL INFORMATION

SG Finans processes personal data in accordance with current data protection regulatory framework. SG Finans has issued a data privacy statement which contains rules and description of SG Finansī processing of personal data including information regarding data controller, purpose of processing, data protection officer (DPO), right of access by the data subject, complaints etc. SG Finansī at any time current data privacy statement applies for the contractual relationship and is available at www.sgfinans.no.

Personal data given upon registration or later, is used to prepare a written agreement for the transfer of a sale item, in connection with the delivery of the sold item and to contact the registered person/entity when needed in connection with the use of the auction service at www.sgfinans.no. The registered personal data is further used to fulfill any statutory obligations SG Finans AS may have. The personal data provided by the registration or later will be safely stored and will not be available to unauthorized persons.

All bids submitted are registered by SG Finans AS in a bid log. SG Finans AS is free to pass on information from the bidding history to the former lessee, if necessary.

If the registrant wishes to disclose what information has been registered, SG Finans AS can be contacted by e-mail to dpo@sgfinans.no.


4 SELLER

Most of the equipment/items sold at www.sgfinans.no are SG Finans AS's equipment/items.

However, some of the sale equipment / items that are conveyed through the web auction at www.sgfinans.no may be sold from other mortgagees (including mortgagees authorized to sell the equipment / items on behalf of the owner) or others. Sellers often have no or very limited knowledge of the sales item.

Because SG Finans AS is often in the position that we must quickly remove the item from its location, the buyer is commitment to the settlement and collection of the bought equipment / item shortly after the transfer agreement has been entered into.


5 AUCTION RULES

5.1 Auction sale

Sales through auction on www.sgfinans.no are auction sales and are in accordance with the rules of the Auction Act and the Terms.

Separate auctions are held for each individual item.

We practice two types of web auctions, Ordinary auction and Reverse auction / Dutch auction.

On average online auction, the item is added to the minimum / call price and the highest bidder will win the auction.

Reverse auction works so that the current price for the item counts down. The first to accept the current price will win the auction. Then press BUY NOW. You can also enter a lower price, which then acts as a proxy bid. You will then be the auction winner when the limit of your bid is reached, if no other has bid a higher price on the item. Bids are then submitted to PLACE BID.

5.2 Auction start and closure

For each item of sale, a start date and time limit for the auction ("Bid Period") is set, which can be found on www.sgfinans.no. Only bids submitted during the Bidding Period will be registered.

If a bid has been received during the last three minutes of the Bid Period in a regular online auction, the Bid Period will be automatically extended by three new minutes from the time the bid was received.

5.3 Minimum price and opening price

If the highest bid is above or below the minimum price, it will appear on the auction page. The bid is binding even though the minimum is not reached and the trade can be completed if Seller accepts the bid. Although the minimum price is reached at the auction's expiration, Seller is not obliged to accept the bid.

All auctions have an auction price that will appear for each auction. Start price may be lower than minimum price.

All bids submitted must be higher than or equal to the start price to be registered.

5.4 Bid increase

All auctions have a defined minimum bid increase. The amount of new bid submitted must always be at least the highest existing bid with the addition of minimum bid increments.

You can enter a proxy bid, and this will be marked with an asterisk (*) behind the bid. * Indicates that this is a proxy bid with date and time of when the proxy bid was entered. This means that the system automatically increases the bid until someone bids HIGHER than the limit of the proxy bid.

5.5 Binding bid

Binding bids are submitted when the bid is received on SG Finans AS's auction solution.

All bids given from My account registered on www.sgfinans.no, is regarded given by the account holder, regardless if there is someone else than the registered account holder that has placed the bid.

The bid is binding even if minimum price is not achieved.

Any bid is binding until:
* New and higher bids are registered on www.sgfinans.no
* SG Finans AS has rejected the bid
* The auction is canceled.

5.6 VAT, sales costs, liens etc.

The Bidder will, at the latest upon completion of the bid form, get information about the total purchase price of the bid if the bid is accepted, including any value added tax and selling costs.

All bids will be logged exclusive of any value added tax and sales costs on www.sgfinans.no.

All motor vehicles are sold free of tiered mortgages unless otherwise stated. Obligatory charges, re-registration fee and non-statutory charges connected to the Sales Item are the Buyer's liability and will be in addition to the Purchase Amount. Any EU approval of motor vehicles or other necessary permissions for the use of the Sale Item is the Buyer's liability.

5.7 Seller's right to decline bids

Seller has the right, without reason, to reject any bid, including the highest bidder. This also applies if the minimum price is reached.

5.8 Binding agreement

Binding agreement for transfer of the Item, including the Terms, has been entered into when SG Finans AS has accepted the Bidder's bid agreement.

The highest bidder at the end of the Bid period will, within 3 business days (Monday to Friday except for public holidays), calculated from the first business day after the Bid period has expired, recieve a e-mail from SG Finans AS on whether the bid has been accepted or rejected. Bids are usually accepted by SG Finans AS by sending the agreement for Buyer's signature. If the Bidder has not received a feedback / agreement within the given deadline, this is not considered as a bid accepted. If, after the expiry of the deadline, the Bidder has not received acceptance of the bid, the Bidder may withdraw his bid. The bid may be deducted by sending an e-mail to auksjon@sgfinans.no, and the bid is binding until the e-mail has been received by SG Finans AS.

SG Finans AS usually sends an agreement on the transfer of the Sale Item to Buyer for Buyer's signature. The agreement shall immediately be signed by the Buyer. Signed agreement must be returned by Fax or e-mail to SG Finans AS within 48 hours from Buyer has received the agreement. The buyer is aware that a binding agreement has already been entered into at the acceptance of the bid, and thus regardless of whether the agreement itself is signed by the Buyer. Failure to return a signed agreement from the Buyer, however, entitles Seller to, at the Buyer's expense, refuse delivery of the item of sale, even if Buyer has paid the Purchase Amount.

5.9 The purchase price

The accepted bid, including any sales costs and any value added tax, is the final purchase price ("Purchase Amount").

5.10 Payment of Purchase Amount

The Buyer is obliged to pay the purchase price to bank account 8101.07.87661 within 5 business days (Monday to Friday except for public holidays) after Buyer has received acceptance of the bid, unless explicitly agreed otherwise.

5.11 Impact of non-payment - cancellation, replacement, termination fee etc.

If the entire purchase price has not been paid no later than 5 business days (Monday to Friday except for public holidays) from Buyer has received acceptance of the bid, Buyer is deemed to have defaulted its payment obligation substantially. As a result of such delay, the seller has the right to cancel the transfer of the Sale Item. Buyer is responsible for Seller's possible financial loss.

In case of late payment, the current interest on overdue payment accrues according to the Act relating to Interest on Overdue Payments etc. (of 17 December 1976 No. 100).

If SG Finans AS terminates the agreement with Buyer, Buyer is obliged to pay a standardized termination fee to Seller v / SG Finans AS. Payment of the termination fee does not exclude that the Seller at a later point and in addition also may demand the Buyer to compensate smaller financial loss on top of the tremination fee. The termination fee includes:
* Purchase amount up to NOK 100,000: NOK 5,000 + VAT in termination fee
* Purchase amount over NOK 100 000: NOK 10 000 + VAT in termination fee

5.12 The right to terminate auctions - exclude users - cancel auctions

SG Finans AS is free to close any auction at www.sgfinans.no at any time and without justification. If an auction is closed before the expiry of the Offer Period, the highest Bidder at the closing date will be free to withdraw the bid, so that the bid is valid until SG Finans AS has received notification by Fax or e-mail from the Bidder that the bid is withdrawn.If the auction again activates without SG Finans AS having received such a message from the Bidder, Bidder is still bound without the right to withdraw the bid.

SG Finans AS is free to exclude any user of the auction solution at www.sgfinans.no without further justification.

SG Finans AS is free to cancel any auction at www.sgfinans.no, also during the Bid Period.

5.13 Illegal Bids /b>

Collaboration is not permitted which limits competition, cf. Section 10 of the Competition Act.

False bidding will be reported to the police. Attempted fraud, forgery and other criminal activities will be punished by criminal prosecution.


6 DELIVERY OF SOLD EQUIPMENT / ITEMS

The buyer will receive a confirmation from SG Finans AS when the Purchase Amount is registered paid to SG Finans AS. The delivary of the bought item to Buyer may can only occure at the earliest after the Purchase Amount has been confirmed payed.

Buyer is obliged to retrieve the bought equipment / item at its location (the advertised location) no later than 5 business days (Monday to Friday except for public holidays) after the Buyer has received acceptance of the bid, unless otherwise agreed.

Buyer is obliged to sign and deliver to Seller all necessary documentation in connection with the purchase, including a written purchase agreement and any notification of sale (part 2 of the vehicle license).

The delivery is considered done when the Buyer has collected the equipment / item at its location

Any accrued costs regarding to collect and transfer the bought equipment / item are on the Buyer and are the Buyer's liability.

If the bought equipment / item is not collected within the aforementioned deadline, Buyer is obliged to compensate the costs Seller is incurred in order to secure the bought equipment / item in a proper manner until the Buyer collects it. The buyer is also obliged to compensate the Seller for costs related to delayed collection of the equipment / item. In such a case, Buyer is not entitled to receive the bought equipment / item before these costs are also confirmed paid.

If the sales item is not collected within the aforementioned period, SG Finans AS is entitled to terminate the agreement with the Buyer on behalf of the Seller.

The risk of the bought equipment / item will be on the Buyer by delivery, but no later than 5 business days (Monday to Friday except for public holidays) after Buyer has received acceptance of the bid, unless otherwise agreed.

The Seller has not provisioned the equipment / item insured, unless informed otherwise.

The Seller is taking resevation that the Sellers right to cancel the sale are applicable in cases regulated by the Byers Act § 54 (4) and the Consumer Act § 45 (3).


7 SALE EQUIPMENT / ITEM - OBLIGATION TO EXAMINE, CONVEYANCE "AS IS" ETC.

7.1 Byers obligation to examine

Details of the sales equipment / item can be found on the web auction page for the specific equipment / item at www.sgfinans.no. The information is provided by or received from the Seller. SG Finans AS has only conducted its own research on the equipment / item, where this is explicitly stated.

In cases where the sales equipment / item are part of a property of company in liquidation, a mortgagee authorized to sell by the owner, the Buyer must assume that there has been no further investigation of the sale equipment / item. Also, in those cases where Seller is a second party, the Buyer must assume that Seller has limited knowledge of the Sales equipment / item unless otherwise stated.

Based on this, Bidder / Buyer is encouraged to examine the equipment / item before submitting a bid.

7.2 The sales equipment /item conveys "as is", "present location" and "with any limitations that may exist"

The sales equipment / item is sold "as is" without liability for Seller for possible hidden and / or obvious errors and omissions. Therefore the Seller does not respond to any errors or defects on the equipment / item, including but not limited to, defects or defects in quality, quantity, completeness, applicability, hidden errors or defects, or the like.

The sales equipment / item is sold with any limited rights other than the Seller may have to the sales equipment / item. Unless otherwise stated, Seller is not aware that any person other than Seller has the user rights of the sales equipment / item.

The Buyer waives any right to claim compensation in connection with the sale and the agreement, as well as any right to demand that SG Finans AS repay all or part of the Purchase Amount on the basis of a claim for cancellation or price reduction. This implies, among other things, that the Buyer can not make applicable claims against SG Finans AS for cover of direct or indirect losses, other consequential losses or losses or claims for any loss of data, profit, income, dividend, revenue or otherwise, regardless of how and when the damage or loss has occurred (whether the damage or loss is due to negligence or breach of the agreement or has occurred otherwise).

Buyer accepts that the examinations, or, if applicable, the lack of examinations, the Buyer has made of the sales equipment / item is sufficient enough to purchase the sales equipment / item. The risk that the buyer takes by purchasing the sales equipment / item without further knowledge of the sales equipment / item is taken into account in the bidder's bid and thus in the purchase price.

If the sales equipment / item is or includes computers or similar, this will be delivered with deleted hard drive and missing operating system. If the Buyer still finds data that has not been deleted, Buyer undertakes to immediately delete this data. The Buyer waives the right to use this data in any way. Unauthorized use of such data may lead to compensation claim to Seller and others.


8 SG FINANS AS' RESPONSIBILITY

SG Finans AS has no control over or responsibility for the quality, safety, legality or existence of goods and services being sold, nor the accuracy of the information provided elsewhere. SG Finans AS does not perform an advance assessment of goods and services sold unless otherwise stated.

To the extent that otherwise does not follow from the prescriptive law, Buyer waives any claim against SG Finans AS, its representatives and employees that may arise in connection with or any sale made through the auction at www.sgfinans.no, included (but not limited to) any claim relating to the description of the item of sale, submission or non-registration of bids, as well as non-completed or completed transactions.

Neither Bidder nor Buyer may make any claim against SG Finans AS due to data failure, downtime, data loss or other technical issues at www.sgfinans.no.

SG Finans AS is not liable to the Buyer or any other third party for indirect loss and / or other consequential loss or loss, loss of data, profit, income, dividend, revenue or otherwise, regardless of the damage or loss suffered (whether the damage or the loss is due to negligence or breach of the agreement or has occurred otherwise).


9 SALES MORTGAGE

SG Finans AS owns or holds a mortgage in the sale equipment / item for collateral for the Purchase Amount, plus interest, late interest and costs, cf. section 3-14 of the Mortgages Act.


10 Offset

Payment of the Purchase Amount can not be offset against any claims that Buyer has against Seller.


11 BUYERS RIGHTS

SG Finans AS's disclaimers do not affect the rights Norwegian prescriptive legislation gives a Buyer who is a consumer.


12 OTHER

12.1 Permissions

The buyer agrees and is responsible for that the Buyer having all permissions that may be necessary to take over the sale equipment / item. To the extent that such permission must be obtained, the Buyer is responsible for collecting and paying for this.

12.2 Legislation and jurisdiction/p>

All transactions through the auction at www.sgfinans.no are considered to be carried out in Norway. These Terms and Conditions are interpreted in Norwegian law, with Seller's domestic court as the sole legal representative.

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