1. GENERAL

a) For the purposes of this document and any agreement between the parties Wines Premier Cru Ltd (WPC Ltd) will be referred to as the “Company”, “We” or “Our”, and the customer will be referred to as the “Buyer”, “You”, or “Your.”. Our Terms of Business cover the purchase of goods or service, portfolio fees, delivery, storage, insurance, Portfolio disposal, sale commissions that will be charged to the Buyer as part of our service.

b) The Buyer accepts these terms of business in full upon signing and returning Pro forma or Purchase Invoice or making payment for the said goods or service to WPC Ltd or instructed payment accounts and will form a legally binding contract between the two parties in doing so.

c) WPC Ltd reserves the right to decline any order or instruction and will only be bound by these Terms of Business once the order or instruction is formally accepted in the form of a receipt letter and trade completion letter acknowledging receipt of cleared funds and fully completed and signed documentation.

2. BUSINESS SERVICES

a) WPC Ltd act as Fine Wine Merchants, for and on behalf of Buyers, we specialise in the sourcing, buying and selling of fine wine from the world’s leading wine regions, providing a wide range of Fine Wines for storage and consumption.

b) We offer a full range of merchant services that include international trading facilities.

c) We assist Buyers in the acquisition and disposal of quality fine wine through a network of reputable third party merchants, traders and private individuals and our own stock. Each service is charged individually unless part of a fully inclusive package and clearly stated on each Pro forma or Purchase Invoice.

3. ORDERS

a) We act on execution orders only. Orders may be placed by telephone, written instruction or email. Upon such instruction, we will issue a Purchase Invoice confirming the instruction, description of goods and purchase price together with any specific agreement pertaining to this instruction before making any transaction binding on the part of the Company or the Buyer.

b) Your order is an offer to buy from us. Any order placed will not form part of a contract until you return a signed Pro forma invoice or payment has been received by WPC Ltd or the instructed payment account. The Buyer retains the right to cancel any such order within 7 days of the invoice being issued (please refer to paragraph headed (“cancellation”).

c) There will be no contract between WPC Ltd and the Buyer until we accept your order. WPC Ltd may decline to supply the goods or services to you without giving reason and a contract will only be formed between the Buyer and the Company once the aforementioned paperwork has been completed. In the event that we decline to buy, a full refund will be given

d) There will be no communication in respect of wine or goods to be despatched to you at any point up until the order has been accepted by WPC Ltd and verified by post, email or fax in the form of a signed pro forma or Purchase Invoice together with payment. All goods sold are subject to availability.

e) The majority of our stock is physical and can be delivered to your bonded account or home address within a few working days. However, some of our stock is sourced overseas and can take 4-8 weeks to be delivered.

All rights reserved. Registered in England. Company number 6751509. Nothing within this document shall be regarded as financial advice. WPC Ltd is not permitted to offer financial advice for regulated investments. This document does not in any way act as an invitation to participate in the financial services and market act 2000 (section 235) and as such buyers shall not have access to statuary or regularity protections including the Financial ombudsmen nor the Financial Compensation Scheme.

4. MINIMUM ORDERS AND ENTRY LEVELS

a) We have a minimum order of £100 (per order, ex. VAT and duty for UK delivery, consumption or supply only). We operate a minimum entry level of £1,000 for Fine Wine Portfolio Accounts.

5.PRIVATE CLIENTS

a) Deliveries over £2,000 will be delivered free of charge within mainland UK. Those outside mainland UK will be charged at cost. London City Bond (LCB) will be invoiced under bond – there are no extra shipping charges to pay – however onward delivery charges Her Majesties Customs and Excise (HMCE) duty and VAT will be charged as appropriate. (Please read the storage information provided for full details)

6. DESCRIPTION AND PRICE

a) A full description of goods and prices payable for goods or services you order are clearly set out on an individual Pro forma or Purchase Invoice which will be emailed, faxed or mailed as a hardcopy for your examination and confirmation before actual purchase (please examine these details carefully and ensure all details are correct before signing and returning).

b) If purchasing a package the wine details will be agreed via Telephone, Email or post then confirmed via a Purchase confirmation 28 days after full payment has been received and cleared in full.

c) If in error we under-price an item or service, we will not be obliged to provide that item to you at the stated price, provided that we notify you within 3 business working days of our acceptance of your order. We may cancel your order and we will refund any payments you have made in full. Alternatively you may agree to the corrected price in which case we will proceed with your order.

d) Our pricing structure is based on our own stock and stock that may be available to WPC Ltd through a network of industry suppliers at any given point in time. We consider market demands and the interpretations of market trends from wine suppliers and buyers. Our prices are therefore established in house and we do not accept any liability for market trends or price fluctuations that may occur between perceived value, open market or auction sale prices. We reserve the right to change our prices at any time subject to availability and market conditions. Please contact our sales office directly for all current prices. Please note prices issued verbally via telephone, faxed or emailed supersede any previously listed or website prices.

e) All wine prices listed or quoted are per case ex-cellars and are held under bond unless otherwise stated and do not include VAT or duty. A case is equivalent to 12 x 75cl. bottles, 6 x l50cl magnums, 24 x 37.5cl. Half bottles, 12 x 50cl. imps, 36 x 25cl. quarter bottles.

7. WINES FOR CONSUMPTION

a) Goods ordered for private cellaring or consumption will be subject to duty and VAT at the prevailing rate as determined by HMCE and payable in advance before the goods can be removed from the Government regulated bond. The Buyer will remain liable for this payment unless clearly stated on our Pro forma or Purchase Invoice as Duty Paid and the relevant amount is shown separately in the payment breakdown under VAT and Duty payable.

b) Prices are subject to currency and market fluctuations, changes in duty and VAT and availability.

All rights reserved. Registered in England. Company number 6751509. Nothing within this document shall be regarded as financial advice. WPC Ltd is not permitted to offer financial advice for regulated investments. This document does not in any way act as an invitation to participate in the financial services and market act 2000 (section 235) and as such buyers shall not have access to statuary or regularity protections including the Financial ombudsmen nor the Financial Compensation Scheme.

 

8. OWNERSHIP RIGHTS

a) All goods shall remain the property of WPC Ltd until all monies are paid in full. WPC Ltd reserve the right to withhold delivery of any goods should payment not be made.

9. DUTY AND VAT

a) Wines are offered for sale under bond and are subject to duty & VAT at the prevailing rate as determined by HMCE. WPC Ltd is a wholesale wine trader, not a retailer, all prices are quoted ‘in bond’ (exclusive of UK duty & VAT). VAT and duties will be liable if delivered to a UK residential address.