Terms and Conditions

Rules for conducting and participating in the auction

1. General Provisions

1.1. The organizer of the auction is OFEK NFT department that is part of the international financial holding Stichting OFEK Hi-Tech Investment Foundation, hereinafter referred to as the Auction Organizer.

1.2. The Executive Company is OFEK Consalting doo, Montenegro, which is affiliated with the Stichting OFEK Hi-Tech Investment Foundation.

1.3. OFEK Consalting doo, carries out activities for the implementation of interested parties (auction participants), NFT tokens, which are a commodity certificate of antiques and art, precious stones, jewelry, real estate, technology, franchises, etc.

1.4. OFEK Consalting doo, acts as an agent involved in financial settlements for both the Seller, the Seller and the Buyer.

1.5. The official website of the Auction Organizer is located at:https://www.ofeknft.com/ and https://www.ofekhi-tech.com/

1.6. The official website of the auction is located at: https://ofekauction.com/

2. Participation in the auction

2.1. Adult and fully capable individuals can participate in the auction.

2.2. Legal entities can participate in the auction

2.3. The organizer of the auction reserves the right to refuse to participate in the auction without giving a reason

2.4. The organizer of the auction has the right to demand from the Buyer participating in the auction for the first time, a deposit of 10% for lots from € 1,000,000.00

2.5. The organizer of the auction reserves the right to withdraw any lot from the auction without giving any reason. Information about the lots withdrawn from the auction is announced before the start of the auction.

2.6. To participate, the Buyer needs to register on the websitehttps://ofekauction.com/

2.7. After registering on the sitehttps://ofekauction.com/ it is necessary to contact the administration of the auction e-mail: info@ofekdoo.com and complete and sign the proposed form.

2.8. After filling out and signing, sending the proposed form, the Buyer is allowed to participate in the auction. The administration of the auction informs the Buyer about this by e-mail.

3. Auction procedure

3.1. The source of official information about the items presented at the auction is the catalog published on the Auction Organizer's website at:https://www.ofeknft.com/

3.2. Descriptions of items provided by NFT tokens in the catalog are for informational purposes only. The Organizer undertakes to provide the Buyer with what he has.

3.3. The buyer decides to purchase the item on his own.

3.4. After the end of the auction, claims for the condition and description of the items will not be accepted and cannot serve as a basis for refusal to pay for the lots won.

3.5. Trading at the auction occurs with an increase in price, the winner of which is the Buyer who has offered the highest price at the end of the auction.

3.6. The Auction Price Increase Step is set as a percentage of the NFT token price.

3.7. The auction step is announced by the auctioneer and is about 10% of the previous lot price. The auctioneer has the right to set a different step size by announcing this to the auction participants.

3.8. The Buyer can immediately redeem the NFT token (Product) by paying the maximum price offered by the Seller.

4. Payment and delivery

4.1. At the end of the auction, the Buyer will be invoiced to pay for the lots. The final amount consists of the value of the lots at the end of the auction, as well as the auction commission.

4.2. The buyer who won the auction, after payment, receives the NFT token to his Ethereum wallet.

4.3. Payment is made within five (5) banking days after the purchase of the NFT token at the auction. The payment term can be extended by agreement with the administration of the auction.

4.4. Payment can be made both in fiat currency EUR or USD, and in cryptocurrency: BTC, ETH, USDT etc.

4.5. When buying lots for cryptocurrency, an additional four (4) percent is added to the Auction House's commission.

4.6. The administration of the auction provides the Buyer with all the necessary legal documents that allow to legally pay for the NFT token, receive the Goods and own the Goods that are secured by the NFT token.

4.7. The Buyer can receive the Goods with which the NFT token is secured by presenting NFT token to the Owner (Seller) of the Goods or the Auction Administration.

4.8. The transfer and delivery of the Goods with which the NFT token is provided will be carried out by agreement of the Buyer with the Owner (Seller) of the Goods or with the Auction Administration.

4.9. The administration of the auction, through the executive company OFEK Consalting d.o.o. (, provides a full range of services for the receipt, delivery and storage of the Goods, which are provided with the NFT token.

5. Guarantees of the organizer of the auction

5.1. The organizer of the auction undertakes to place in the auction catalog all information at its disposal about the items.

5.2. The Buyer's statement that the purchased item may be a fake is accepted within 1 (one) month from the date of the auction. A bidder making a claim in relation to the purchased item must provide at least two separate independent expert opinions from the institutions issuing opinions in accordance with the subject of the auction

5.3. The auction is considering the possibility of reimbursing the funds spent by the Buyer for the purchase of the item (s), unless;

a) the description in the auction catalog corresponds to the opinion of recognized experts on the day of the auction and / or the work is accompanied by an appropriate expert opinion

b) at the time of publication of the Catalog, there was no scientific research method that established the fact of the inauthenticity of the subject

5.4. The returned item must be delivered to the Auction Organizer's office in the same condition in which it was sold on the day of the auction.

5.5. The buyer is not entitled to claim compensation in excess of the price paid by him, as well as to claim compensation for additional costs and moral damage

5.6. Return guarantees apply only to the direct Buyer of the item, which must be documented. The returned item must be exempted from property claims of third parties, which is confirmed by the owner.

5.7. The organizer of the auction guarantees the confidentiality of information about the names and addresses of customers, as well as information about the items purchased or sold by them at auctions.

6. Governing law and arbitration.

6.1. This Agreement will be governed by and construed in accordance with the Laws of the United Kingdom - English law.

6.2 In the event of any dispute or disagreement between the Parties arising from or related to this Agreement, the Parties will try to resolve such disagreements through negotiations.

6.3. If the Parties cannot come to a unanimous opinion and settle the differences that have arisen, then these disagreements are subject to consideration in the International Arbitration Court in London, UK.