Vadium

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Vadium (from Latin vadimonium = declaration to appear in court secured by a deposit) is a term from the Austrian enforcement law and describes a security to be provided by the bidders before the foreclosure auction of properties , generally at least 10% of the estimated value. A legal regulation can be found in § 147 EO .

Only savings certificates (savings books ) can be considered as security deposits ( Section 147 (1) sentence 2 EO). They must be submitted to the court before the bid is accepted (Section 148 EO) and will be offset against the services to be provided by the highest bidder. Unsuccessful bidders will get their Vadium back at the end of the auction.

The amount of the vadium is published by the court in the current edict.

In Austrian procurement law , the Vadium serves as a guarantee in the event that the bidder withdraws from his offer during the award period (1.11.1.1 of ÖNORM A 2050). As a rule, it must not exceed 5% of the estimated order value (Section 86 BvergG). If the client has requested a Vadium, proof of its submission must be enclosed with the offer. The lack of such evidence necessarily leads to withdrawal from the award procedure.

Web links

Wiktionary: Vadium  - explanations of meanings, word origins , synonyms, translations

Individual evidence

  1. ↑ Vadium ( Memento of the original from January 2, 2017 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Austrian Chamber of Commerce , Real Estate ABC, 8 January 2015 @1@ 2Template: Webachiv / IABot / www.wko.at
  2. ↑ § 147 EO Vadium jusline.at, accessed on January 2, 2017
  3. ↑ Hubert Schoder: Edicts zwangsversteiger-immobilien.at, accessed on January 2, 2017
  4. ↑ Edict file of the Austrian Federal Ministry of Justice , accessed on January 2, 2017
  5. ↑ Hubert Schoder: Vadium zwangsversteiger-immobilien.at , accessed on January 2, 2017
  6. ↑ BGBl. For the Republic of Austria 1994, 417
  7. ↑ Supreme Court decision of June 6, 1991, reference number 6Ob564 / 91
  8. ↑ Federal Act on the Award of Contracts (Bundesvergabegesetz 2006 - BVergG 2006) RIS , accessed on January 2, 2017
  9. ↑ Ulrike Sehrschön: Procurement Law II: Necessary content of the offer. Retrieved on January 2, 2017.