Bidders must register on the LEILOSOC® website, providing all necessary identification and contact information, namely name, address, ID card or passport number, and tax identification number;

Billing information must also be provided;

The bidder assumes responsibility for the accuracy of the data entered and the resulting liability;

After completing registration, confirmation of the email account indicated during registration will be requested. Confirmation is essential to validate the requested email and allow bidding.

The goods are sold in the condition, physical and legal state in which they are found, therefore LEILOSOC® declines any responsibility regarding their state of conservation or operation.

All electronic auctions include a period for viewing the goods – at a pre-defined time or by appointment. When the viewing period is pre-defined, the time and physical address where the goods can be viewed are published in the electronic auction area and/or in the goods area. When the type of viewing is by appointment, you must contact LEILOSOC® to schedule the visit. The buyer is responsible for inspecting the goods, and the lack of this inspection cannot be attributed to LEILOSOC®.

The auction will take place during the period advertised in the auction area, consisting of a start date and time and an end date and time.

In the last 5 minutes of each auction, new bids restart the countdown by 5 minutes. For example, if an auction is scheduled to end at 5:00 PM, and a bid is placed at 4:58 PM, the auction automatically extends for another 5 minutes, ending at 5:03 PM, and so on. The auction ends when no further bids are placed within the remaining time.

All items in the auction are identified with a countdown timer in hours, minutes, and seconds.

By bidding, the bidder assumes responsibility for the act itself, namely the obligation to acquire the item for the price offered, in accordance with the law and these General Terms and Conditions of Sale.

• Each lot in the electronic auction has the following values:

• Base Value: the value from which the item is considered sold, being awarded to the bidder with the highest bid.

• Opening Value: the value from which bids will be accepted for the purchase of the item. Sometimes the Opening Value is lower than the Base Value of the item. If the Base Value is not reached, it is up to the Auctioneer to decide on its acceptance or not, according to the decision of the Insolvency Administrator.

• Current Bid: the value of the highest bid received so far.

• Bidders will be notified by email if a bid exceeding theirs is received. LEILOSOC® is not responsible for any delays in email delivery, as the email delivery and reception service is not its responsibility.

All other bids (that did not win the auction) are automatically archived.

The minimum bid amounts are:

• AOA 50,000.00 for lots with a "Base Value" equal to or less than AOA 1,000,000.00

• AOA 100,000.00 for lots with a "Base Value" from AOA 1,000,001.00 to AOA 5,000,000.00;

• AOA 150,000.00 for lots with a "Base Value" from AOA 5,000,001.00 to AOA 20,000,000.00;

• AOA 200,000.00 for lots with a "Base Value" from AOA 20,000,001.00 to AOA 50,000,000.00

• AOA 300,000.00 for lots with a "Base Value" from AOA 50,000,001.00 to AOA 80,000,000.00;

• AOA 500,000.00 for lots with a "Base Value" from AOA 80,000,001.00 to AOA 100,000,000.00;

• AOA 800,000.00 for lots with a "Base Value" greater than AOA 100,000,001.00

A commission for services provided by LEILOSOC® and applicable VAT are added to the sale price, namely:

• Real Estate: 7.5% on the proposed value plus applicable VAT (at the legal rate in force);

• Movable Goods: 15% of the proposed value plus applicable VAT (at the legal rate in force);

• Movable Goods: 15% of the proposed value plus applicable VAT (at the legal rate in force).

• Commercial Establishment: 10% of the proposed value plus applicable VAT (at the legal rate in force).

• Specific cases will be indicated in the specific auction conditions and/or in the information area dedicated to the electronic auction and/or the specific product.

If one or more items are awarded to the winning bidder, they will be contacted after the auction ends to arrange payment of the commission, the cost of the items, and their collection.

If the bid, despite being the highest, is lower than the sale price of the item, the bidder will be contacted in due course to be informed of the auctioneer's position.

Real Estate:

• The successful bidder and prospective buyer will pay, upon Adjudication/Auction, 20% of the proposed value as a down payment, as well as the corresponding amount for the services provided by the auctioneer.

• The tenant's/redeemer's rights of preference/redemption are subject to these general terms and conditions of sale.

• The remaining balance will be paid on the date of the deed of sale, to be executed within a maximum period of 30 days.

• The public deed of sale will be scheduled by the Auction Establishment and will be executed at a location determined by LEILOSOC®, generally within the geographical area of ​​its registered office.

Movable Goods:

• Upon successful bidding, the full amount of the proposed price, including VAT, will be payable.

Failure to pay the price, failure to collect the goods, or withdrawal will have the following implications:

If, for reasons beyond LEILOSOC®'s control, the deed of sale is not executed – due to a court decision, namely in the case of irregularity or other defect that prevents, invalidates, or renders the sale ineffective – any amounts paid by the successful bidder will be refunded in full.

Under the terms of the Law and General Duties for the Prevention and Combating of Money Laundering and Terrorist Financing (ML/TF), after the awarding of the auctioned goods, payment may be made through the following methods:

• Multicaixa (ATM network);

• Bank transfer to the IBAN indicated in the award summary;

• Check made payable to LEILOSOC Market Partners Lda.;

The electronic auction cannot be used by individuals who do not have full legal capacity to enter into onerous contracts, and in particular, cannot be used by minors under eighteen years of age.

LEILOSOC® assumes no responsibility arising from the fact that participants do not have full legal capacity to sell or buy products.

Participants in the auction must inform LEILOSOC® of any situation that limits their legal capacity; if nothing is communicated in this regard, it will be considered that they have full legal capacity.

LEILOSOC® may suspend access to the portal whenever the participant violates any legal provision or any provision of these General Terms and Conditions of Sale or their annexes, as well as in the event that any fraudulent activity or connection to fraudulent activity promoted or carried out by the auction participant and related to the electronic auction is detected.

In the event that an auction participant's account is suspended or cancelled, the obligations assumed by that auction participant, namely the obligation to promptly pay any amounts owed and to complete transactions to which they have proposed as a buyer, are not extinguished, and the auction participant must fulfill such obligations.

When using the electronic auction, the participant agrees not to engage in conduct that violates current legal order or that harms legally protected interests or positions, and also agrees not to disrupt or degrade the quality of the service.

The auction participant undertakes to observe all procedures indicated by the auctioneer for the correct use of the electronic auction and to conduct themselves with high standards of seriousness, providing only truthful and up-to-date information.

Participation in an auction with speculative intent is not permitted, with the aim of increasing or decreasing the price of the auctioned product, whether by placing buy or sell offers, or by inciting or provoking the placing of such offers. It is also not permitted, in any way, to manipulate the auction process or influence the behavior of other users of the electronic auction, nor to perform any act that implies an unjustified overload, or that may damage or interfere with the electronic auction's computer system.

The auction participant may not use any computer program, mechanism, or manual process to monitor or reproduce, in whole or in part, the content of the electronic auction pages without the express written authorization of the auctioneer.

The auction participant assumes responsibility for the completion of bids made through the electronic auction, namely acquiring the item for the offered price, as well as for compliance with applicable legislation.

LEILOSOC® is responsible for placing goods in electronic auctions, as well as for the information entered;

• To ensure its proper functioning, guaranteeing the confidentiality of bidders' identities.

LEILOSOC® is not responsible for losses resulting from failures or deficiencies caused by unforeseeable and insurmountable events;

The bidder is not responsible for failures or ineffectiveness of electronic equipment used by bidders or for time discrepancies in these devices;

Given the difficulty of verifying the identity of internet users, the bidder is solely responsible for the statements made, particularly regarding the identification of their representative(s), their capacity and powers.

LEILOSOC®, as an auction house, reserves the following rights:

• Do not award the bid if the amounts obtained are considered insufficient;

• Cancel or suspend sales when they occur irregularly;

• Require, if deemed necessary, that payments be made by certified check;

• Consider void any auctions that do not receive a down payment.

LEILOSOC® will collect and process the personal data of the auction participant, inserting it into an appropriate database for which it will be responsible.

The personal data provided by the auction participant will be used exclusively for purposes related to the execution of the respective contract, as well as for information and marketing activities of the auction house.

The auction participant undertakes to provide and maintain their personal data updated and truthful. Personal data relating to the mandatory fields of the registration form that are found to be incorrect or incomplete will constitute grounds for the immediate suspension or termination of the electronic auction, as well as for the termination of the respective contract.

The auction participant agrees to receive notifications related to the electronic auction, including any changes to these General Terms and Conditions of Sale, to the email address associated with their registration.