9. - What happens if the bidder unit (BU) winner of the Bidding Acceptance Subprocess does not pay the rest of the token payment (10%) and does not sign the Deposit Agreement (“interrupts” the auction)?

If the Deposit Agreement is not signed, which means that the winning BU of the Bids Acceptance Subprocess “interrupts” the auction, the second best acceptance of a bid has the option of signing it. This option is governed by the following two criteria:
1. - The acceptance of the highest bid confirmed in the system.
2. - The order resulting from a public draw when there is more than one acceptance confirmed at the highest bid.

This process will be repeated with the next best recorded acceptance if the auction is “interrupted” again until there is a confirmed acceptance and the Deposit Agreement is signed.
The cheque for the 5% of the opening bid delivered on deposit when entering the event will not be returned to those BUs that “interrupt” the auction. The reason why it is done is to offset the damages suffered by the seller and the negative image of the organization. In the case of a single “interruption”, 20% of this amount, equivalent to 1% of the opening bid, is delivered to the seller, leaving the remaining 80%, equivalent to 4% of the opening bid, for the organizer of the auction. Torrent de Juià S.L., as a socially committed company, always allocates these amounts in their entirety to make donations to the José Carreras International Leukaemia Foundation. In case of consecutive and additional “interruptions”, these amounts will in full remain at the disposal of Torrent de Juià S.L.

Moreover, all the acceptances of previous bids made by the BUs that have “interrupted” the auction will be cancelled, which means that once they have “interrupted” the auction they will not have any other option to win the Bids Acceptance Subprocess.

 

To explain the Sistema Torrent, Explanatory Presentations are held periodically and before the auction in the property to be auctioned, which presents an opportunity to visit it. Dates and timetable can be consulted in "Explanatory Presentations".

If requested and without any commitment on your part, we also offer the possibility to make Explanatory Presentations where and when they are required.