General Terms and Condtions for On-line Auctions

Regulations for all On-line Auctions

1. General rules

Historic Stock Market Ltd., London and Johanna Vogt Company, Huerth/Cologne (hereafter called „operator“), offer all their members (private or commercial buyers/sellers) the possibility of carrying out own on-line auctions within the On-line Platform "Historic Stock Market - Exchange" .

2. Membership

Only 18 year-old members are allowed to participate in the auctions.

Before being able to participate, the operator must approve the member’s application. Hereto the user has to register at Historic Stock Market - Exchange and fill in correctly and thoroughly the required data. The user chooses a member name and a password. Approval is given after the operator’s verification and the payment of the member charge.

The member charge includes:

Example: For a member charge of USD 12.00 the member can set 100 sale auctions for a period of 6 months with no extra charges like setting and sales fees, commissions, etc.

The operator is entitled to refuse or cancel membership without stating the reasons or without prior notice, in case of

- presumable false information during the application

- presumable or perceptible misuse of the auction platform

- damage or impairment of the performance of the auction platform

- other violations of the General Terms and Conditions.

The operator has the express right to enforce the rights to compensation.

The membership starts with the settlement of the member charge and finishes automatically at the end of the required duration with no need for notice. An early cancellation is possible at any time. The member charge is not reimbursable.

3. Right of use

The rights of the member are limited to the participation in the operator’s on-line auctions. The operator grants the member no copyrights and other property rights. .

4. Privacy notice

Personal data is processed exclusively for auction development and to assure the compliance of legal provisions. The user agrees with the electronic storage of the transmitted personal data. Evidently, these won’t be transmitted to third parties.

The operator has the right to,

- publish the data under the name chosen by the member himself within the frame of the private auctions, as long as they are required for a participation in the on-line auctions.

- and to forward them onto the Buyer/Seller as long as required for the development of the sales contract within the frame of private auctions.

After termination of a membership, data is stored for another 3 months until final deletion.

5. bidding

Membership confers members the right to bid for the offered certificates/documents in auctions.

Hereby the member offers a binding and irrevocable quote for a certificate/document. This bid expires with a subsequent higher bid placed by another member.

Bids must take place within the duration of the current on-line auction. The deadline for the corresponding duration is determined exclusively by the operator’s time system.
The operator is entitled to shorten or extend the duration, cancel or terminate the on-line auctions.

A bid placed within the duration of the Online-Auction is only valid, if it is higher than (or on) the start price or higher than the previous bid by another member. If both bids are equal, the input time is determining.

Each member may apply only once. Agreements between sellers and buyers concerning bids are totally unacceptable.

6. Disclaimer

The operator takes no guarantee for the permanent and unbroken availability of the website. The operator takes no liability for damages resulting from the participation of members and third parties in auctions.

The operator takes no liability for damages due to

- technical deficiencies concerning bids placed by members or bids are not considered by the operator.

- certificates offered by members which are not or are not fully put forward and offered for sale.

The operator is not responsible for damage caused to members or third parties by the behaviour of other members.

The operator offers their users a platform where members can carry out their own transactions..

The operator doesn’t accept any responsibility; warranty or claim for bids or offers as well as for the conclusion of sales contracts.

7. Organization of private auctions

Only historic stock certificates, bond certificates and financial documents with no market value or which are non-negotiable in the stock exchange, may be bid.

The seller sets a Start price and/or a BuyItNow price for his auction.

The seller determines the duration of his auction.

The seller has the duty to describe the proposed certificate/document in a truthful and accurate manner.

The description of the certificate/document cannot include any ads to other items, which do not describe the offered certificate/document. .

The seller accepts total responsibility and liability for the auction started at the operator. The seller excludes the operator from all third party claims.

8. Bids – Contract

The seller is excluded from placing bids on own auctions.

The contracts concluded in a auction are concluded exclusively by the corresponding members.

The application of the UN-Agreement concerning the international sale of goods of 11th April 1998 is excluded.

9. Contract processing

After the conclusion of the auction, the operator informs the buyer and seller about the conclusion of the sale contract per e-mail, at the e-mail addresses provided by the members.
The operator informs herewith the final price of the contract and the corresponding contact information for both parties.
The operator cannot accept any liability for technical failures regarding the notification.

Hereafter buyer and seller agree upon the payment method and terms of delivery.

10. Liabilities and Warranty

The operator does not guarantee the offered, namely the sold certificates/documents.

The operator does not guarantee the accuracy and completeness of the data and information provided by the member, and the identity of the corresponding members.

11. Feedback System

The operator offers their members a Feedback System that enables buyer and seller of a certificate/document to deliver comments on their contract partner regarding the whole process.

The evaluation made by each member must be true and accurate.

The operator does not take liability for the accuracy of the evaluation content.

The operator is entitled to cancel the provided evaluation at any time.

12. Links To Other Web-sites And External Reference

This site may contain links to other Web-sites ("Linked Sites"). The Linked Sites are for your convenience only, and you access them at your own risk. Visitors to any linked site are urged and expected to abide by the Terms of Use and Privacy Policies of that particular linked site. This declaration applies to all links offered at this Web-site.

13. Place of Jurisdiction

All disputes between Historic Stock Market Ltd. - Exchange and Johanna Vogt Company - On-line Auctions, Bellerstr. 74, 50354 Huerth/Cologne and the user are solely subject to the law of the Federal Republic of Germany. Place of jurisdiction shall be Cologne/Germany.

14. Final Provisions

Should one or several of the provisions contained in these General Terms and Conditions for On-line Auctions be or become ineffective in whole or in part, this shall not affect the legal validity of the remaining provisions. A reasonable provision should replace the invalid or unfeasible provisions which, if possible, most closely approximates the wishes of the parties as they had intended the item to be upon conclusion of this agreement or upon the later adoption of a provision. This also applies should it be discovered that the agreement has a loophole in the provisions.