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The 2023 Markel Insurance Breeders Championship Futurity Yearling Sale is held in conjunction with the National Snaffle Bit Association (NSBA) World Championship Show. These Conditions of Sale form a contract for the sale and purchase of the consigned yearling. These conditions are binding even if you have not read them. The Conditions of Sale state the protection a buyer receives as well as the responsibilities of the buyer, seller and the National Snaffle Bit Association (NSBA) Sale Management. Sale Management is conducting this sale in accordance with, and all acts of interested parties and/or claims by them are governed by, the following conditions of sale. By requesting a bidder’s number for this auction, the buyer is assumed to have read and accepted the terms for this auction. You are bound by the terms and conditions of the auction, whether you have read them or not.
FIRST - APPLICABLE LAW: All yearlings in this sale are offered according to the laws of the state of Texas. Any consignor, bidder, buyer, agent and any other person having anything to do with this sale agrees that any dispute arising as a result of any occurrence having to do with any consignment or sale shall be subject to the jurisdiction and venue of the State and Federal Courts in Parker County, Texas. The right to bid is reserved for all consignors unless otherwise announced.
BUYER’S RESPONSIBILITY: By placing a bid in this auction Buyer is indicating they have examined or researched a horse to their satisfaction. Prior to Bidding, Buyers may a) ask Seller for additional information, b) make an appointment with Seller to examine the horse at Seller’s property, c) arrange with Seller to have a veterinarian perform a pre-purchase examination, or d) hire an agent or equine professional to inspect and evaluate the horse.
SECOND - WARRANTY IN GENERAL: There is no warranty expressed or implied by the Sale Management, auctioneer, sponsors, owner or consignor, as to the performing soundness, merchantability or fitness for any particular purpose of any yearling offered in this sale. All yearlings are sold "as is" with all existing conditions and defects except as set forth in conditions third, fourth, fifth and sixth below. Buyers should examine yearling(s) prior to purchasing.
THIRD - WARRANTIES AS TO SOUNDNESS: Unless an announcement from the auction stand, Sale Management Catalog, or as hereinafter provided, there is no warranty or guarantee of any kind as to the soundness or condition or other quality of any yearling(s) sold in this sale. THE BUYER HAS THE RESPONSIBILITY TO EXAMINE OR RESEARCH THE YEARLING(S) BEFORE BIDDING.
FOURTH – LIMITED WARRANTIES
1. LIMITED WARRANTIES: Any yearling(s) unsound in eyes or mouth, (including but not limited to: “cribbers,” “wind suckers,” “cryptorchids,” “ridgling”, etc.) or displaying any other defect, must be so announced. Consignor/Agent further agrees to disclose if said horse is being administered any medication(s). The Consignor of each yearling represents and warrants to the buyer that the yearling is free from all adverse claims to ownership, use or possession. The Consignor sells each yearling without warranty and with all faults.
2. BUYER’S RIGHT TO LIMITED POST-PURCHASE EXAMINATION - Buyer has the right to have a veterinarian perform a limited post-purchase examination, at Buyer’s expense, to determine if any of the issues in Condition 4 were not disclosed. The examination must be done within five (5) business days from the end of the auction and before the horse leaves the Consignor’s facility. This examination will be limited to moving the horse for soundness and examining eyes and wind. Positive reaction to flexion tests and hoof testers does not constitute unsoundness, if the horse is moving sound. Radiographs, flexion tests and the use of hoof testers are allowed in a pre-purchase examination, but not in the limited post-purchase exam. If a horse is found to be lame at the time of the examination, the sale of the horse can be rejected without further diagnosis. A horse sold with one or more of the issues described herein and in Condition 4, which was not disclosed at the time of sale can be rejected by the buyer, upon receipt of a statement from a qualified veterinarian, establishing the existence of the condition, within 5 business days of the date of sale and before the horse leaves the Seller’s facility. If a sale is rejected, the horse will remain the property of Consignor.
3. In the event that any yearling is (a) not as represented in the Sale Catalog or, (b) breaches the foregoing limited warranty, the buyer shall file with the Sale Management a written notice rejecting the yearling. The written rejection is to include a veterinary notice certifying the conditions for rejection within 5 (five) business days of the Sale and before removal of the yearling from the seller’s property, or sale grounds, whichever is sooner. Upon Sale Management approval that the rejection is in the manner and within the time line provided, the sale will be voided and Sale Management will refund to the buyer the full purchase price on behalf of the Consignor. The Consignor will also refund to the buyer all reasonable expenses incurred by the buyer in connection with the yearling from the fall of the gavel until return of the yearling to the Consignor. The Consignor will be charged the commission on the final bid price achieved in the bidding.
FIFTH - CONSIGNEE STATUS: The Sale Management is operating as an independent contractor engaged in the business of conducting a consignment sale. The Sale Management has compiled the Sale Catalog from information provided by the designated consignor. In the event of any dispute between the buyer and the consignor, the Sale Management will occupy the position of agent for a disclosed principal and stakeholder. On delivery of any property or funds held by the Sale Management to the Court having jurisdiction of such dispute, there are no obligations by the Sale Management to the Consignor or the buyer. The Sale Management makes no representation or warranty with respect to any yearling and the buyer must look solely to the designated Consignor for recovery of any damage due to the failure of any representation or limited warranty.
SIXTH - CATALOG AND ANNOUNCEMENTS: The Consignors represent yearlings catalogued in this sale. Neither the Sale Management nor the auctioneer is responsible for the accuracy of information provided. The Consignor has provided all information other than that which is provided by a pedigree service. Notice to the Sale Management prior to the sale of any modification to the sale catalog or limited warranty is the responsibility of the consignor or its designated agent. Further it is expected the consignor or agent must make publicly and immediately known to the auctioneer the changes should there fail to be an appropriate update to the online sale catalog prior to or during the bidding on their yearling. It is the sole responsibility of the consignor or their designated agent to verify the accuracy of the information and to notify the auctioneer of any corrections.
SEVENTH - BIDDING PROCEDURE: All buyers must obtain a bidder’s number prior to bidding. All buyers will present valid bank contact information and agree to their acceptance of the Conditions of Sale. The person making the highest bid when the online bidding shall be the buyer. BIDDING & EXTENDED BIDDING: Bidding will open and close at a specific time and date, which is listed for each auction. Bidding on lots will close every 3 minutes. A SOFT CLOSE bidding system is used. If bids are received within the last 3 minutes on the countdown timer on a horse, an additional 3 minutes will be added on that lot. Only after a 3 minute period passes with no additional bidding will the bidding close. A bidder may place individual bids. Alternatively, a Bidder may place maximum (proxy) bids where they declare the maximum dollar amount they want to bid, and the computer will bid on their behalf until they have successfully purchased the horse or the asking price exceeds the amount of their maximum bid. The auctioneer, P.H.S, reserves the right to bid, whether it is on behalf of a Seller for any minimums or reserves, as well as for their own personal purchase.
EIGHTH - BIDDING ERRORS: You should make sure to review all bids before and after submitting. If you mistakenly increase your own bid, place your bidder number in the bid field, or make a gross error you must immediately contact the PHS office by email (we must have your request in writing). We may not be able to reverse your bid. You must remain the high bidder. Be aware of increasing your own bids.... some bidders increase their own bid to price an item out of reach of other bidders. We will not reverse bids that have caused another bidder to be outbid. If you bid on the wrong item we will not reverse your bid. Please make sure to immediately review your bid. We will not reverse bids after the auction has begun to close.
NINTH – NO GUARANTEE OF SERVICE - The auctioneer reserves the right to reject any or all bids. NO GUARANTEE OF SERVICE: PHS, and EDJE.com do not guarantee or covenant that the Auction technology, the edje site or any related services will meet Buyer’s requirements or be uninterrupted or error-free. EDJE.com does not guarantee real-time performance of any service or that it will execute all online or absentee bids.
TENTH - TERMS FOR SETTLEMENT:
1. Method of Settlement - No later than 2 (two) business day from the conclusion of the sale, Tuesday, August 22, 2023, 5 PM CDT, and before the horse leaves the seller’s or trainer’s property or Sale facility the buyer shall make settlement with the NSBA Sale Management Cashier for the full purchase price, and any sales tax that may be due and owing. Buyer will be assessed a penalty fee of $100 if they fail to settle by Tuesday, August 22, 2023, 5 PM CDT. All settlements shall be in U.S. Currency or checks drawn on U.S. Banks ONLY and payable at the time of the sale. Methods of settlement are cash, cashiers or certified check, personal check with picture identification, such as driver’s license or passport, traveler’s checks, MasterCard, Visa, Discovery or American Express credit cards. Settlement with a credit card will be subject to a 4% convenience fee. All registration papers will be held by the sale management until all checks clear the bank. Buyers are responsible for any cost of collection, including attorney’s fees. After payments clear the bank, the Sale Management will release to the appropriate breed registries, breed registration papers and Breeders Championship Futurity certificates. All returned checks will be referred to the Parker County Attorney’s office to file charges and there will be a $100.00 charge for all returned checks and declined credit cards. Full payment including all applicable fees must be made within 3 business days after confirmation of a returned check or declined credit card. If payment is not received within 3 business days disciplinary action will be taken as set forth in the NSBA Rule Book.
2. Buyer’s Premium – This additional fee is required of the buyer above the acknowledged purchase price. The buyer’s premium is 5% of the purchase price or $250 whichever is greater.
ELEVENTH - OWNERSHIP AND DELIVERY: Ownership and responsibility for the yearling(s) passes to buyer at the fall of the gavel. All risk of injury and responsibility for the yearling(s), becomes the buyer’s risk at that time. All consignment documents, including but not limited to registration papers, BCF certificate, and health certificate will be held until the buyer makes settlement as provided in Condition Ten (10) below. Upon settlement by the buyer, the yearling(s) will be released by Sale Management to the buyer or his or her authorized agent. Taking possession of the yearling by buyer or his or her authorized agent shall constitute release by Sale Management. Horses may be subject to board charges by the Seller starting on the day after the auction closes.
TWELFTH - RELEASE OF HORSE TO BUYER: Seller shall not release a horse to a Buyer until Buyer has made full payment for the horse and funds have been verified. Once bidding concludes, and NSBA has collected payment from the Buyer, NSBA will send to the Buyer and Seller, a paid receipt. When Buyer or transporter arrives they will show Seller their copy of the paid receipt to confirm payment.
THIRTEENTH - TRANSPORTATION FROM SELLER TO BUYER: Buyer is responsible for cost and arrangements for transportation of horse from Seller to Buyer. Soon after purchase Buyer will contact Seller directly to schedule removal of horse.
FOURTEENTH - DISCIPLINARY ACTION: Any consignor, agent, buyer or other individual or entity not abiding by the terms of these Conditions of Sale shall be subject to disciplinary action as set forth in the NSBA Rule Book.
FIFTEENTH – SALE ALUMNI PURSE: The Sale Alumni Breeders Championship Futurity purse will pay 90% of the alumni purse earnings to the owners of the alumni earning payment. The Consignors of these alumni purse earners will receive 10% of said earnings. To be eligible for the Alumni purse a yearling must be entered and be offered through the online sale.
SIXTEENTH –
INDEMNITY: Professional Horse Services, LLC (PHS) is only hosting this auction through its Internet auction platform for NSBA. Horses in this auction were consigned to NSBA. NSBA provided information to PHS for Buyer, Seller and NSBA release PHS, employees and its representatives, from any and all responsibilities, liabilities, obligations, claims, lawsuits, or legal proceedings arising from the sale of this entry. If legal action is initiated against PHS involving this entry, the Seller, Buyer and NSBA agree to fully indemnify PHS from such suit, including legal fees and costs incurred by PHS. Seller and Buyer agree that PHS may publish information concerning this sale transaction. - Terms may vary for the different auctions produced by the auction host, Professional Horse Services, LLC. PLEASE READ CAREFULLY.
NOTICE TO CONSIGNORS
Consignors must submit original breed registration papers, a signed transfer, and the Breeders Championship Futurity certificate at the time of consignment. Sale Management must receive an original negative Coggins test before the start of bidding. Failure to comply will result in withdrawing the yearling(s) from the sale and Sale Management will retain the consignment fee(s).
The seller will furnish a halter and lead rope with all yearlings sold.
NOTICE TO BUYERS
Buyer has the opportunity and agrees to take responsibility for contacting the consignor and/or owner of each yearling to have their questions answered before bidding.
For those present at the NSBA World Championship show:
Breed registration papers are available for review with the sale office at the NSBA World Championship Show in Tulsa, OK.
A Buyer’s Premium is an additional fee that is required of the buyer above the acknowledged purchase price. The buyer’s premium is 5% of the purchase price or $250 whichever is greater. Only yearlings that have been sold through the sale ring or the online sale are eligible for the additional NSBA Breeders Championship Futurity Sale Graduate purse.
The Breeders Championship Futurity Certificate and breed association transfer fees are the responsibility of the buyer at the time of settlement. An NSBA membership is required for all horse purchases.
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