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Terms and Conditions

These terms and conditions ("Terms and Conditions") apply to and form part of every contract between Bordeaux Index Limited ("Bordeaux Index") and its customers ("Customer") including any storage or similar services. No terms and/or conditions which the Customer may seek to impose or which may be implied by trade, custom, practice or course of dealing shall apply or have effect.

In these Terms:

"Bid" – means an offer to buy a wine from Bordeaux Index entered on the LiveTrade Dashboard;

"BIX" – means the Bordeaux Index Broking system hosted on the Website;

"Contract for Purchase" – means a binding agreement for the purchase of Goods by Bordeaux Index;

"Contract for Sale" – means a binding agreement for the supply and/or storage of Goods from Bordeaux Index;

"Customer" – means any Private Customer or Trade Customer as the case may be;

"Goods" – means the products to be supplied by Bordeaux Index to the Customer;

"Offer" – means an order expressing a firm interest to sell a wine to Bordeaux Index entered on the LiveTrade Dashboard;

"LiveTrade Dashboard" – means a wine trading interface hosted on the Website;

"Private Customer" – means a Customer who is not a Trade Customer;

"Purchase" – means a purchase of Goods other than made via the LiveTrade Dashboard;

"Reserves" – means goods stored by or on behalf of Bordeaux Index in accordance with clause 9.5;

"Trade Completion" – means the event of a Bid or Offer being accepted by Bordeaux Index and a transaction occurring

"Trade Customer" - means a Customer who purchases Goods with a view to resale in the ordinary course of its business and/or who Bordeaux Index notifies is classified as such;

"Us" – means Bordeaux Index;

"Website" – means the website owned and operated by Bordeaux Index at www.bordeauxindex.com but not including the LiveTrade Dashboard or BIX; and

"You" – means a Customer of Bordeaux Index i.e. an individual or company buying wine from, or selling wine to Bordeaux Index.

2.1. By placing an order you agree that you are capable of entering into a legally binding contract and you must be at least 18 years old or you must have reached the requisite age in your home territory for the purchase of alcohol. All contracts are subject to English law and jurisdiction. All wines are offered subject to market movement and remaining unsold.

2.2. A contract for sale which incorporates these Terms and Conditions ("Terms") in full will come into existence when we expressly accept your order. Please note that an acknowledgement of your order by us by telephone, email or Website confirmation does not constitute acceptance of your order. Your order will be accepted when we take payment from you or issue an invoice for the order.

2.3. We have a minimum order of £250 (per order, ex VAT and duty) or a full unmixed case of 12 bottles.

2.4. We are free to accept or decline the whole or part of any order at our absolute discretion. Where we decline part of an order we will confirm this to you and afford you the opportunity to continue with the part of the order we have accepted.

2.5. The availability of the Goods will be checked after we have received your order. If for any reason at any point before delivery of the Goods to you, we are unable to fulfil your order (or any part thereof) we will advise you of this and if we have already debited your payment card, the appropriate amount will be credited to the card or account used to place your order.

2.6. At the point these Terms become binding (as provided for in Clause 2.2) you have entered into a contract with us for the supply and/or storage of the Goods ("Contract"). These Terms apply to the Contract to the exclusion of any other terms that you seek to impose or incorporate or which are implied by trade, custom, practice or course of dealing. We shall not be bound by any clerical or arithmetical errors in documents issued by us in relation to your order. No price or other information contained on our Website shall constitute an offer to contract.

Bordeaux Index makes every effort to ensure that all Goods we sell are of impeccable quality and in a condition appropriate for the age of the wine or spirit, including thorough provenance checks, physical inspections and appropriate storage conditions. We do not purchase US strip-labelled stock or stock that has been shipped back into Europe from the Americas or Asia unless otherwise specified or specifically requested. As a result, condition issues rarely occur. In the event that wines are corked or out of condition for consumption, Bordeaux Index will be under no obligation to offer replacements or offer other compensation of any kind and such replacements or compensation will be made entirely at our discretion. We cannot guarantee that wines will always show at their best. Regardless of reputation, all wines can age and mature in different ways and we will not bear any liability for subjective judgments such as quality or drinkability. All older bottles are therefore sold as seen and we cannot accept returns for any wines should they be corked, tainted or fatigued in any way. As such the wine we sell to you will be of condition to be expected in view of its age and provenance and we will not be responsible for minor defects or imperfections or any condition resulting from nature or age of the wine. We cannot warrant any provenance or information given to us by third party suppliers. This does not affect your statutory rights. We would also highly recommend that the older the wine the longer the time that should be allowed for preparation before serving. Wines benefit from rest as well as being stood upright for a number of days before opening and drinking.

4.1. Payment will be due at the time of placing an order or, as per agreed terms. Please note Wine may not be delivered until payment is received in full.

4.2. All prices are set in pounds sterling and may be varied without prior notice. Prices in various currencies may be viewed on our Website and are converted from the sterling prices using appropriate exchange rates. The exchange rates fluctuate with market foreign exchange rates so that prices in quoted foreign currencies will vary even if the underlying sterling prices have not changed. Any applicable VAT, duty and delivery charges will be added at the time of order or, in the case of Customer Reserves held in bond, when the relevant Reserves are delivered or collected.

4.3. Bordeaux Index accepts a range of payment methods and/or card issuers including Amex, Alipay and WeChat pay. A surcharge is applied to non EEA cards (European Economic Area) and mobile payment methods.

4.4. To ensure that your credit, debit or charge card is not being used without your consent the name, address and other personal information supplied by you during the order process may be validated against appropriate third party databases. By accepting these terms and conditions you consent to these and similar checks being made. All information provided by you will be treated securely and strictly in accordance with the Data Protection Act 2018 and any other relevant data protection law.

4.5. All information revealed through such checks shall be used by us in accordance with our privacy policy although we may refer any information which appears to be fraudulent or unlawful to relevant third parties such as police or other enforcement authorities, banks or credit card companies as may be appropriate.

4.6. The description and prices payable for the Goods you order are set out in our emails and other communications with you. If, by mistake we have under priced an item or service we will not be liable to provide that item to you at the stated price provided that we notify you before we despatch the item concerned or, if we are not despatching an item, within 7 working days of our acceptance of your order and we may cancel your order provided we refund you any payments you have made. You may agree to pay the correct price in which case we will proceed with your order. In the event that you have been overcharged for an item, a full refund of the difference will be given.

4.7. We may change these Terms from time to time and you should check these regularly as the Terms which are in place when we issue an order acknowledgement, proforma invoice or invoice (whichever is earliest) will be binding upon you. None of our employees or agents has the right to bind us to any verbal agreement which does not comply with the Terms. In the event you place an Order and we amend the Terms within 14 days of the Order being placed, the Terms applicable to your Order will be those in force at the time the Order is placed, unless the change to the Terms was required by law or government or regulatory authority ( in which case, any such change will apply to an Order you have previously placed that we have not yet fulfilled).

4.8. In the event of non-payment of account within the specified terms for payment, we reserve the right to charge interest on any sums owing to us at the rate of 8% above the Bank of England base rate from time to time from the date payment is due to the date of payment.

4.9. In the event that any amount is owing from you to us (whether that amount arises under our terms of sale, our storage terms, or as a result of interest charges or otherwise) then you agree that we will have the right to purchase any of your Goods which are held by us at a price governed by these Terms in satisfaction of your liabilities. Upon that purchase, we will hold title to the relevant Goods and we will then be free to sell or otherwise deal with those Goods at our discretion and we will not be required to account to you for any further sums received by us for those Goods.

4.10. In order to exercise our right to purchase Goods we hold for you to satisfy your liabilities to us we will send written notice to your last known invoice address of our intention to purchase the Goods. Thirty days after sending such notice we will be entitled to take ownership and possession and (at our discretion) dispose of some or all of your Goods which are held by us. Upon purchasing the Goods, we will credit you with the purchase price of the relevant Goods (the "credit amount"). The purchase price will be the LiveTrade bid price for Goods traded on our LiveTrade market-making screen or 80% of market value for other Goods. Market value will be assessed based on our list prices or by making reasonable enquiries and will be assessed on the date which falls 30 days after the notice referred to in clause 4.10 is sent by us. We will set the credit amount off against any sums you owe to us. If the credit amount exceeds the sums you owe to us we will account to you upon request for any excess but we will not be obliged to pay interest on such excess. If any balance remains outstanding owing to us after we have purchased the Goods and credited the credit amount to you then the balance (including interest at the rate specified in clause 4.8) shall remain payable by you.

4.11. Our right to purchase Goods we hold for you to satisfy your liabilities does not affect any other remedies we may have. You agree that given that the credit amount represents the typical price we would pay for the relevant Goods, and given the existence of fluctuating demand and prices for the Goods the above terms are reasonable.

4.12. We reserve the right to charge a cancellation fee of up to 20% of the outstanding amount, or actual losses incurred by Bordeaux Index as a result of cancellation if greater than 20%.

4.13. We may (a) utilise any monies held on account or otherwise received from or on behalf of the Customer to discharge any such cancellation fees; (b) cancel any discounts given in respect of any invoiced sums and/or cancel any further deliveries to you; and (c) withdraw any credit facilities which have been offered to you.

5.1. In the case of Private Customers, title to all Goods shall remain with Bordeaux Index until all sums due from the Private Customer are paid in full.

5.2. In the case of Goods purchased 'en primeur', those Goods may be stored in bulk in the region of their production. Until the Goods are bottled and transferred to Bordeaux Index bonded warehouse, they cannot be segregated and the Customer may have a contractual rather than a proprietary interest in them. Risk of loss or damage to Goods shall pass to the Customer when the Goods are physically delivered to or collected by either the Customer or an agent acting on behalf of the Customer.

Retention of Title – Trade Customers

5.3. In the case of Trade Customers where delivery is made in advance of payment: (a) Goods purchased and held 'in bond' as Reserves shall remain the property of Bordeaux Index until Bordeaux Index has received payment in full (in cash or cleared funds) for those Goods (excluding VAT, duty and delivery charges); and (b) Goods purchased and held 'duty paid' as Reserves, or not held as Reserves, shall remain the property of Bordeaux Index until Bordeaux Index has received payment in full (in cash or cleared funds) for those Goods (including any applicable VAT, duty and delivery charges).

5.4. Until such time as Bordeaux Index has received payment in full (in cash or cleared funds) for all Goods that Bordeaux Index has from time to time supplied to a Trade Customer (including any applicable VAT, duty and delivery charges), all such Goods supplied to that Trade Customer shall remain the property of Bordeaux Index.

5.5. Until ownership of Goods has passed to a Trade Customer, the Trade Customer shall (unless the Goods are held as Reserves or have been resold in accordance with paragraph 4.10): ((a) store the Goods separately from other goods of the Trade Customer and/or keep them in such a way (at no cost to Bordeaux Index) that they can be readily identified as being the property of Bordeaux Index ; (b) hold the Goods on a fiduciary basis as Bordeaux Index bailee; (c) not destroy, deface or obscure any identifying mark on or relating to the Goods; and (d) maintain the Goods in satisfactory condition and keep them insured on behalf of Bordeaux Index for their full replacement value against all risks.

5.6. Until ownership of Goods has passed to a Trade Customer, Bordeaux Index grants the Trade Customer the right to resell the Goods in the ordinary course of business at full market value on the basis that the Trade Customer has no authority to enter into any contract of sale on Bordeaux Index behalf, but does so as principal, and provided that the Trade Customer shall hold in trust and pay to Bordeaux Index on demand the proceeds of any such sale to the extent that any sums are owed by the Trade Customer to Bordeaux Index.

5.7. Without prejudice to any other remedy that Bordeaux Index may have, Bordeaux Index may, at any time, revoke the Trade Customer's power of sale under paragraph 5.6 by notice to the Trade Customer if the Trade Customer is in default of payment of any sum whatsoever due to Bordeaux Index , or if any cheque (or other negotiable instrument) drawn by the Trade Customer in favour of Bordeaux Index is dishonoured on presentation for payment, or if Bordeaux Index has bona fide doubt as to the solvency of the Trade Customer.

5.8. Trade Customer's power of sale under paragraph 5.6 shall automatically cease if, in the case of a Trade Customer who is an individual, that Trade Customer has a bankruptcy order made against him/her or makes an arrangement or composition with his/her creditors, or otherwise takes the benefit of any statutory provision in force from time to time for the relief of insolvent debtors, or, in the case of a Trade Customer which is an entity, that Trade Customer is being wound-up or enters into a company voluntary arrangement (within the meaning of Part 1 Insolvency Act 1986) or is placed into administration, administrative receivership, compulsory or voluntary liquidation or a receiver is appointed over all or any of its assets or the Trade Customer enters into any other insolvency proceedings governed by the provisions of the Insolvency Act 1986 and/or the Law of Property Act 1925 (in each case as consolidated, re-enacted, modified or replaced from time to time) or any analogous insolvency proceedings in any other applicable jurisdiction. A Trade Customer shall notify Bordeaux Index without delay if any of the events specified in this paragraph occurs.

5.9. Upon the revocation of the Trade Customer's power of sale under paragraph 5.7 or its automatic cessation under paragraph 5.8, all amounts payable in respect of all Goods supplied shall become due and payable to Bordeaux Index immediately whether or not such amounts are then due and payable.

5.10. Each Trade Customer grants Bordeaux Index , its agents and employees (with such transport as is necessary) an irrevocable licence at any time to enter any premises of the Trade Customer, or to which the Trade Customer has access, where Goods may be or are believed to be situated for the purpose of inspecting Goods to which Bordeaux Index has title or, where the Trade Customer's power of sale has been revoked or ceased, to recover any Goods to which Bordeaux Index has title. Bordeaux Index may dispose of the recovered Goods so as to discharge any sums owed by the Trade Customer to Bordeaux Index.

5.11. The rights of Bordeaux Index set out in this paragraph 5.10 shall remain in full force and effect notwithstanding termination of the relevant contract with the Trade Customer

5.12. Bordeaux Index may maintain an action for the purchase price of the Goods notwithstanding that ownership of them has not passed to the Trade Customer.

6.1. Goods are offered for sale under bond, unless otherwise stated.

6.2. For Goods purchased and held in bond for UK home use: the customer will be liable to pay duty and VAT based on the rates in force when the Goods are taken out of bond and not those prevailing at the time of purchase.

6.3. Duty paid Goods for export must be exported from the UK within 30 days of invoice if collected by the Customer's shipper or 90 days of invoice if shipped by Bordeaux Index , or else UK VAT will be payable by the Customer.

6.4. Any change in duties, tariffs or other taxes which arise because of changes in laws will be the responsibility of the Customer.

6.5. If Goods are being ordered from outside of the UK, import duties, tariffs and taxes may be incurred once your Goods reach their destination. Bordeaux Index is not responsible for these charges and we undertake to make no calculations or estimates in this regard. We recognise that if you are buying internationally the process can be complex and whilst Bordeaux Index will be on hand to guide you with advice and support you should take advice from your own professional adviser because we are not qualified to give advice in these areas. As the purchaser of the Goods, you will also be the importer of record and as such should ensure that your purchase is in full compliance with the laws of the country into which the Goods are being imported. Please be aware that Goods may be inspected on arrival at port for customs purposes and Bordeaux Index cannot guarantee that the packaging of your Goods will be free of signs of tampering.

7.1. Deliveries to Private Customers over £1,000 within mainland UK will be free of charge. All other deliveries, including those overseas, are charged at the prevailing rate plus VAT (where applicable). We reserve the right to charge additional delivery costs in the event of a non-delivery caused by your failure to provide adequate delivery instructions and/or your non-availability to receive the delivery.

7.2. Any indication as to when an order of Goods will be delivered is an estimate only. Such estimates are given in good faith and we will use our reasonable endeavours to meet them. We do not accept liability for any failure to deliver with that time. En primeur wines will not be dispatched until after the date on which such wines become available to us.

7.3. Delivery of the Order will be completed when we deliver the Goods to you, a nominated third party or into Reserves (the ‘bonded’ warehouse operated by our third party partner), as appropriate.

7.4. The quantity of any consignment of Goods as recorded by us on despatch shall be conclusive evidence of the quantity received by you on delivery unless you can provide evidence to the contrary.

7.5. All Trade sales are sold ex-Octavian Colerne. Onward delivery charges, duty and VAT will be charged as appropriate upon shipment. Export Trade Customers can be put in contact with a suitable freight forwarder.

7.6. Any Goods (Private and Trade) not collected within one month of release date will be stored in our private customer reserves at the prevailing cost per 4.5 litre case (covers all cases up to and including 4.5 litres, or the equivalent of 6 regular bottles) per 6 month period unless we take storage of your Goods within the last 30 days of such 6 month period (in which case no charge is levied for that period). Any cases above 4.5 litres and up to and including 9 litres (the equivalent of 12 regular bottles) will be charged at the prevailing rate (plus VAT if applicable) for a full case rate per 6 month period unless we take storage of your Goods withing the last 30 days of such 6 month period (in which case no charge is levied for that period).

7.7. For Goods (Private and Trade) not collected within one month with a market value of more than £8k per bottle (any format) you agree that additional storage fees will be payable. These additional fees are set out on our Website and may change from time to time. Additional storage invoices will be raised in line with clause 7.6

8.1. In the unlikely event that the Goods do not conform with your order you must notify us within seven (7) days of delivery or collection or as soon as reasonably practicable. We will replace any Goods or credit your account with the value of the original purchase price if we assess them to be inherently faulty. Please note that we do not warrant taste or drinkability of Goods and in view of the nature of the wines we do not provide refunds for corked wines. Where you have bought several bottles of wines from the same vintage and you consider the wine is faulty upon opening one bottle, it is your responsibility to ensure that you mitigate any loss by keeping the remaining bottles in their packaging until we inform you whether or not we require you to return them to us. We reserve the right to charge you for any additional bottles opened by you. You accept that these wines may be subject to normal wear and tear associated with the nature of these wines.

8.2. Claims for breakages will only be allowed if the Customer notifies Bordeaux Index as soon as possible (and, in any event, within 7 days) after delivery. The Customer must retain breakages and accompanying packaging for examination by Bordeaux Index or its agent.

8.3. Private Customers have the right to withdraw from a contract entered into with Bordeaux Index within 14 days following the day on which the Goods either come into their physical possession or are placed into Reserves (as applicable) without giving any reason. You may cancel either part or a whole order. We will confirm your cancellation in writing to you.

8.4. To exercise the right of withdrawal, a Private Customer must give written notice to Bordeaux Index by emailing us at [email protected] or by writing to us at 10 Hatton Gardens, London EC2N
If a Private Customer withdraws from a contract, Bordeaux Index shall reimburse to the Private Customer all payments received from it, including any costs of standard delivery (but not collection), without undue delay and in any event not later than 14 days from the day on which it has collected the Goods or the Private Customer has supplied evidence of having sent back the Goods, whichever is the earlier. A Private Customer's right of withdrawal under this paragraph shall not apply to wine purchased 'en primeur'.

8.5. If you cancel an order for Goods but we have already despatched the Goods to you, we will not be able to cancel your order until it is delivered or collected. In this case, if you return the Goods to us, we will have to charge you the cost of collection or you will have to pay the cost of returning the goods back to us. This will not affect your refund for the goods themselves. We will refund any charges for standard delivery but will not refund any charges paid in addition to our standard delivery charges for non-standard or enhanced delivery.

8.6. We may make a deduction from the reimbursement for loss in value of any Goods supplied, if the loss is the result of inappropriate storage and/or unnecessary handling by you. You are only liable for any diminished value of the wines resulting from the inappropriate storage and/or handling other than what is necessary to establish the nature, characteristics and functioning of the wines.

8.7. We will make the reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise. Refunds will be made to the bank card used for the original purchase after deducting 5% of the invoice to cover our costs, including charges by your card company. This does not affect your statutory rights.

8.8. For Customers who have purchased wine 'en primeur' once we have issued an order acknowledgement, pro-forma invoice or invoice for these wines you are unable to cancel your order unless we expressly agree to this at our discretion. Requests to cancel en primeur orders must be received within seven (7) days of the order being placed to be considered.

9.1. In order to place Goods in our storage facility you will need to notify us:

i. when agreeing to buy the Goods, where you opt for us to store Goods you have bought from us; or

ii. in any other case in advance of sending the Goods to us for storage in which case we will supply you with a booking-in reference. Should any Goods arrive without a booking-in reference we reserve the right to refuse receipt of the goods into our storage facility.

Prior to sending Goods not purchased from us for storage you must provide copies of the original invoices as evidence of the in bond values. We do not accept for storage mixed cases or loose bottles purchased from third parties without our prior written agreement.

9.2. Unless we have agreed to arrange for collection or we have sold the Goods to you and are placing the Goods immediately into storage, you will be responsible for sending the Goods to us for storage. You will also be responsible for insuring the Goods in transit unless we agree to collect the Goods. We reserve the right to apply a collection charge if we collect Goods for storage on your behalf.

9.3. If Goods purchased from us are not collected or delivered within 30 days of the later of the date of the invoice or of the Goods becoming available for collection or delivery you agree that we will place the Goods into storage and these storage terms will apply. Please note that we will not inspect Goods when sent to us for storage. We will not take any steps to verify that the Goods delivered/stored match the details of those first provided by you nor accept any liability for the authenticity, provenance, quality or condition of any Goods bought from third parties when placing them in our storage facility or while storing the Goods. If you have purchased the Goods from us and we have agreed to store them on your behalf then we will arrange for them to be delivered to and placed in our storage facility.

9.4. Bordeaux Index's records will distinguish the ownership of Reserves from the ownership of Bordeaux Index own trading stock. Bordeaux Index will require any Customer instructions pertaining to dealing with Reserves to be confirmed in writing before acting on those instructions.

9.5. You agree and acknowledge that our storage facility is owned and operated by a third party in a facility where the temperature and humidity conditions are appropriate for the storage of fine wines.

9.6. Our storage charges will be set out on our Website and may change from time to time. We will invoice you for our storage charges in arrears every six months for the rental periods of 1 January to 30 June and 1 July to 31 December each year. Our storage charges will be charged on the basis of a charge for each 4.5 litres (or part thereof) plus VAT (where applicable) per six month period unless we take storage of your Goods within the last 30 days of such 6 month period (in which case no charge is levied for that period). For charging purposes, the volume of any case will be rounded up to the next whole multiple of 4.5 litres. Any Goods placed in storage during the first 5 months of a 6 month charging period will be subject to a charge of a full 6 months for that period; however, any Goods removed from storage at any point during a charging period will be subject to a charge of a full 6 months for that period and accordingly we will not refund any unused portion of a six-month storage charge.

9.7. For Goods valued at more than £8k per bottle (any format) you agree that additional storage fees will be payable. These additional fees are set out on our Website and may change from time to time. Goods will be revalued at the beginning of each 6 month charging period and that value will then apply going forward. Your invoice will be adjusted accordingly.

9.8. Your obligation to pay our storage charges for Goods will commence on the date we have agreed to store the Goods. Storage charges will be raised in line with clause 9.6.

9.9. You agree to discharge the cost of any unpaid storage before removing any Goods from storage. If we have not yet invoiced for a period of unpaid storage then we will issue an invoice when you ask to remove the Goods from storage and this invoice will be immediately due for payment.

10.1. You will retain ownership of all of the Goods we hold on your behalf at our storage facility, subject always to our rights under clause 4 Payment.

10.2. We agree to arrange for the Goods held on your behalf to be insured against damage, loss or theft at the lower of replacement or market value. In view of the difficulty in assessing the total market value and the market value of individual rarities, Bordeaux Index can only try to ensure that full compensation is recovered in cases of loss. Please note that the insurance will be provided by a third party and will be subject to various exclusions and limitations. We will supply a copy of these exclusions and limitations to you on request. You agree that our liability with respect to any loss you may incur will be limited to such amount as we may recover under our insurance policy.

10.3. You will be entitled to collect any wines we are holding in storage for you by giving us at least two full business days’ prior notice to be received by us before noon. For high volume or large transfer of client reserve requests we may require more than two business days’ notice. All fees and charges owed to us must be settled in full before you will be permitted to remove wines from storage. Where wines are held in a bonded storage facility (duty unpaid) you will be required to pay duty and VAT on the wines in order to remove them from the facility. You agree to attend the facility and collect the wines on the date agreed. We may agree, as your agent, to arrange for delivery of the wines to you, in which case you will be responsible for all delivery costs.

11.1. Nothing in these Terms and Conditions shall exclude or limit in any way Bordeaux Index liability for death or personal injury or for fraudulent misrepresentation or for breach of its obligations under applicable law.

11.2. Our liability in connection with these Terms and Conditions is limited to:

i. in the case of loss or damage to the Goods, the lower of market value and replacement cost but in all cases limited to such amount as we may recover under our insurance policy; and

ii. in any other case an amount not exceeding the total fees and charges paid by you for storage in the previous 24 months.

This does not limit in any way our liability to the extent that it may not be excluded or limited as a matter of law.

11.3. We agree to hold and store the wines only and, for the avoidance of doubt, we will not be liable for the state and condition of the wine including (but not limited to) any change resulting in ullage, maturing, ageing, decomposition or deterioration of the wines or packaging.

11.4. We are not responsible for advising you about maturation dates or ideal drinking windows for the wines (which are, in any event, subjective).

11.5. We are not liable for any indirect or consequential loss or damage or for any loss of data, profit, anticipated savings, reputation, bargain, opportunity, revenue or business however caused, even if foreseeable.

11.6. We will not be liable for any failure to perform our duties under or in connection with this agreement for any reasons which are beyond our reasonable control ("Force Majeure event") nor any loss and/or damage arising from any such Force Majeure event save to the extent that such loss and/or damage is recoverable under our insurance policy. A Force Majeure event may include any failure on the part of our designated warehouse operator or facility which is outside of our control, as well as strikes, lockouts or other industrial action; civil commotion, riot, invasion, war, threat or preparation for war; fire, explosion, storm, flood, earthquake, subsidence, epidemic, pandemic or other natural physical disaster.

11.7. In the unlikely event of a dispute between you and us about Goods you have stored in Reserves, we shall rely on the invoices issued to you in respect of any Goods in Reserves purchased from us prior to their transfer to Reserves. For all other goods in Reserves we rely on the information which has been provided to us at the time those goods were stored in Reserves, which shall be final and conclusive.

11.8. If you sell any of your Reserves to a third party you must notify us immediately by post (to the address set out in clause 8.4 marked for the attention of Customer Services) or by email (to [email protected]) of the identity of the third party and confirm whether they wish to continue storing in our Reserves. If the third party wishes to continue storing in Reserves you must:

i. ensure we receive written confirmation from that third party of their intention to continue storing in Reserves and their agreement to these Terms; and

ii. confirm the date from which they will be liable for the Storage Charges (as defined in clause 9.6) "The Transfer Date". If the Third party does not wish to continue storing in Reserves you must give us notice of your intention to withdraw from Reserves in accordance with clause 10.3 and the address of the third party to which the stored wines should be delivered. You will be liable to pay the storage charges (as defined in clause 9.6) until the earlier of the date upon which we receive written confirmation from the third party and are notified of the Transfer Date or the date the stored wines are withdrawn from Reserves.

A Purchase may be made via our Website. Use of (including Purchases via) our Website is subject to our Website Terms and Conditions, which can be found on the Website.

13.1. We reserve the right to alter these terms and conditions at any time. Any such changes will take effect when posted on our Website. It is your responsibility to read the terms and conditions on each occasion the Website is used or products ordered. Your use of the Website or your agreement to place or retain wines in storage with us shall signify your acceptance to be bound by these latest terms and conditions.

13.2. If any provision of these Terms is held by a court or other competent authority to be invalid or unenforceable in whole or in part the validity of the other provisions of these Terms and the remainder of the provision in question shall not be affected.

13.3. No provision of these Terms shall be enforceable pursuant to the Contracts (Rights of Third Parties) Act 1999

13.4. No delay in exercising or non-exercise by Bordeaux Index of any right, power or remedy under or in connection with these Terms shall impair that right, power or remedy or operate as a waiver or release of it.

13.5. These Terms shall be governed by the laws of England and Wales and you agree that the courts of England and Wales shall have exclusive jurisdiction in relation to the subject matter thereof and any disputes relating to the same.

14.1. By listing goods for sale you agree that you are capable of entering into a legally binding contract and you must be at least 18 years old or you must have reached the requisite age in your home territory for the purchase of alcohol. All contracts are subject to English law and jurisdiction.

14.2. A Contract For Purchase which incorporates these Terms in full will come into existence when we expressly accept your offer. Please note that an acknowledgement of your offer to us by telephone, email or web generated LiveTrade communication does not constitute acceptance of your offer. Your offer will be accepted when we make payment to you or issue a Purchase order for the offer.

There are two ways to sell your goods.

Stock criteria differs so please refer to specific terms on our Website

LiveTrade Dashboard BIX
For any wines sold through LiveTrade Dashboard you agree to send within 24 hours of Trade Completion a confirmation from your storage provider that a transfer or release has been instructed. All Private Customer goods listed must either be in a Bordeaux Index customer reserve account or transferred to Bordeaux Index for inclusion in an existing or new customer reserve account.
In the case of a transfer, you should ensure that wines arrive at a Bordeaux Index warehouse account within 15 working days of Trade Completion. Bordeaux Index reserve the right to charge a fee of £5 per case (any format) when transferring the goods to us. This covers receiving/handling into our warehouse, inspection and administration
Bordeaux Index reserve the right to charge a fee of £5 per case (any format) when transferring the goods to us. This covers receiving/handling into our warehouse, inspection and administration

14.3. Upon Trade Completion Bordeaux Index will send you a confirmation email and Purchase order. The transaction will also appear in your online account. If you believe a trade has completed but have not received an email confirmation and/or the transaction does not appear in your online account, you should contact us immediately.

14.4. Payment of the purchase price to you shall be by either crediting your account with Bordeaux Index or by BACS payment to your bank account; the details of which we hold on file for you. If you would like the proceeds paid into a new account you will be asked to provide written confirmation in line with our due diligence obligations.

14.5. Bordeaux Index reserves the right to cancel a Contract for Purchase effected through either the LiveTrade Dashboard or BIX if the stock supplied by you does not satisfy our condition criteria or if stock is not supplied within the required timeframe.

14.6. Bordeaux Index may charge you a cancellation fee of up to the greater of 20% of the trade value or actual losses incurred by Bordeaux Index as a result of the cancellation. Losses may include the cost of sourcing suitable replacement stocks and any excess in the price paid for replacements. Costs associated with returning stocks to you following a cancellation will be borne by you.

15.1. The following terms and conditions apply (in addition to the General Terms and Conditions) to interactions with, and transactions effected through, the LiveTrade Dashboard

15.2. Registration is required to the LiveTrade Dashboard. You may register by providing us with your full name, address, phone number, email address. Before a Trade is confirmed you will also be required to provide proof of identity and address and possibly other customer diligence information.

15.3. Offers – obligation to supply
By placing an offer, you are agreeing for a Contract for Purchase (as defined in, and subject to, our General Terms and Conditions) to immediately come into existence if the trade completes. The details of this Contract For Purchase will be in accordance with the details of the offer you have entered and will include the stock condition criteria set out in clause 15.9 below.

15.4. Once a sale has been confirmed you may not remove your wine from sale. As the seller, you are free to remove your wines from the LiveTrade Dashboard at any time prior to confirmation of a sale. If you wish to remove any wine from the LiveTrade Dashboard prior to sale or alter the quantity for sale or the sale price, please do so by logging onto the LiveTrade Dashboard via your account on the Website

15.5. Bids – obligation to buy
By placing a bid, you are agreeing to a Contract For Sale as defined in, and subject to, our General Terms and Conditions immediately coming into existence if the trade completes. The details of this Contract For Sale will be in accordance with the details of the bid you have entered via the LiveTrade Dashboard.

15.6. Errors and Omissions
While we have employed failsafe measures, errors may occur including, but not limited to, technical errors and input errors. If a trade completes and any detail of the transaction deviates significantly from the prevailing market norm, then this is deemed to be an obvious error and the transaction is void. We will inform you as soon as possible and offer you the option of an amended transaction. If we are unable to contact you, you agree that we may treat the transaction as cancelled without any liability to Bordeaux Index.

15.7. Logistics – sales to Bordeaux Index
These are set out in, and subject to, our General Terms and Conditions

15.8. Logistics – purchases from Bordeaux Index
For any wines purchased through the LiveTrade Dashboard the delivery timeframe is as stated at the time of trade and noted on the confirmation email.

15.9. Stock condition – obligation on sellers
All wines sold through the LiveTrade Dashboard must meet the following conditions:

  • Wine levels must be at base neck or higher
  • Labels and capsules must be unmarked and undamaged without tears, nicks or stains
  • Wines must be packed in full original cases exactly as they left the producer
  • Wines must be lying under bond in a UK or EU tax warehouse

If you deliver or release wines which do not meet these conditions, then we will return them at your cost. We may, at our discretion, offer you the opportunity to supply, without delay, replacement cases or we may exercise our right to cancel the trade and charge a cancellation fee as per below.

15.10. Post trade cancellation – purchase from Bordeaux Index
These are set out in clause 8.3 of our General Terms and Conditions.

15.11. By listing of your goods on the LiveTrade Dashboard you acknowledge your acceptance of these additional terms and conditions.

16.1. The following terms and conditions apply (in addition to the General Terms and Conditions) to interactions with, and transactions effected through BIX.

16.2. Bordeaux Index shall give you access to valuation guides including an estimated market valuation and a suggested range of sale prices against the goods in your Bordeaux Index customer reserve account via the My Cellar page on the Website.

16.3. If you list a complete case of wine on the broking list it will be sold as a whole and not split except with your prior approval. If you list loose bottles or bottles in an incomplete case on the broking list you agree that the bottles may be sold individually. When listed, your goods will be visible on the Bordeaux Index stock list and Website and marketed in all relevant offers via our London, Hong Kong, Los Angeles and Singapore offices.

16.4. If you list goods on BIX you agree to Bordeaux Index selling your goods at or above the sale price entered. You acknowledge that Bordeaux Index has the exclusive right to sell your listed goods and no further confirmation is required from the seller prior to Bordeaux Index selling your goods. Upon confirmation of sale at or above the agreed price entered in the Bordeaux Index broking list, Bordeaux Index will issue you with a purchase order. The net payment due to the seller will be the sales proceeds less a 10% broking fee.

16.5. Once a sale has been confirmed the seller may not remove the goods from sale. As the seller you are free to request that your goods be removed from the broking list at any time prior to confirmation of a sale. If you wish to remove any goods from the broking list prior to sale or alter the quantity for sale or the sale price, please do so by logging into your account on the Website or by sending instructions by email to [email protected]

16.6. Errors and Omissions
While we have employed failsafe measures, errors may occur including, but not limited to, technical errors and input errors. If a trade completes and any detail of the transaction deviates significantly from the prevailing market norm, then this is deemed to be an obvious error and the transaction is void. We will inform you as soon as possible and offer you the option of an amended transaction. If we are unable to contact you, you agree that we may treat the transaction as cancelled without any liability to Bordeaux Index.

16.7. Logistics – sales to Bordeaux Index
These are set out in, and subject to, our General Terms and Conditions

16.8. Logistics – purchases from Bordeaux Index
For any wines purchased through BIX the delivery timeframe is as stated at the time of trade and noted on the confirmation email.

16.9. Stock condition – obligation on sellers
All Goods sold through BIX must meet the following criteria

Wine

  • Wine levels must be at base neck or higher
  • Labels and capsules must be unmarked and undamaged without tears, nicks or stains
  • goods must be lying under bond in a UK or EU tax warehouse; we also accept duty paid stock
  • Any packsize supported

Spirits

  • Spirits; any format

If you deliver or release goods which do not meet these conditions, then we will return them at your cost. We may, at our discretion, offer you the opportunity to supply, without delay, replacement cases or we may exercise our right to cancel the trade and charge a cancellation fee as per below.

16.10. Post trade cancellation – purchase from Bordeaux Index
These are set out in clause 8.3 of our General Terms and Conditions.

16.11. By listing your goods on BIX you acknowledge your acceptance of these terms and conditions

17.1. This clause 17 shall apply to all purchases of casks in addition to the Terms. All casks are offered for sale under bond out of Scotland (the warehouse on occasion may be the distillery itself). Duty & VAT will be applied at the then prevailing rate to any of the content of a cask removed for UK domestic consumption and will be payable directly to the warehouse storing the cask. If the contents of a cask are removed for export, duty & VAT will be due on arrival in the country to which it is exported at the prevailing rate.

17.2. Storage
Storage of a cask will be in an HMRC controlled bonded warehouse located in Scotland. The location will vary depending on the cask(s) being offered. Storage charges will be payable

17.3. Insurance
From the point of transfer of ownership, insurance of a cask becomes the sole responsibility of the purchaser. Ownership of a cask will transfer to the purchaser upon receipt by Bordeaux Index of payment in full for that cask. Bordeaux Index will not be liable for insurance of a cask post transfer ownership.

17.4. Ownership & Title
On receipt of payment (in full), Bordeaux Index will instruct the warehouse to transfer ownership and title of a cask to the purchaser who shall (as between Bordeaux Index and the purchaser) be solely responsible for a cask and its contents. This takes the form of a delivery order to the warehouse. From the point of transfer of ownership and title, Bordeaux Index is no longer liable for any loss or damage to the cask and/or its contents.

17.5. Delivery
Please note that it is only possible to deliver bottled stock for home use. It is no longer permitted by law to ship casks of whisky overseas.

17.6. Bottling
If/when the decision is made by the Customer to bottle the contents of a cask, it will be carried out by an independent third party bottler acting on the Customer’s instructions so as to allow for maximum flexibility in individual bottling requirements.

17.7. Quality Control
Once ownership and title has transferred to the Customer, quality monitoring of the contents of a cask become the Customer’s responsibility; Bordeaux Index has no right to request samples to monitor quality.

17.8. Liabilities
Casks for long term holding periods will not taste the same now as they will in years to come. Whilst Bordeaux Index operates a highly rigorous selection process and aims to offer casks that display the necessary attributes for continued maturation, we cannot guarantee the quality of the whisky over the duration of maturation. Customers should be aware that regardless of the reputation of the whisky, it can deteriorate in the cask over time. The Customer agrees that Bordeaux Index shall not be held liable for any change in the taste or condition of the contents of a cask and in the event of any allegation of the same Bordeaux Index shall be under no obligation to offer replacements or offer other compensation of any kind.

18.1. How much is storage?

Prices for cask storage start from £0.35 per week (May 2020), but this is subject to change. In the unlikely event a different HMRC controlled bonded warehouse in England (rather than Scotland) is used, the rates of storage may differ.

18.2. Can you assist me with finding appropriate insurance for my cask(s)?

A number of options for insurance are available and while we can provide preliminary general guidance on this, we recommend that you to take independent advice from a reputable insurance provider when assessing what is right for you and the cask(s) you have purchased. Bordeaux Index does not provide insurance advice. Casks may also be insured by the storing warehouse. Insurance is paid directly by the Customer to the warehouse to cover accidental breakage, theft and fire and the premium starts from £0.0035 per week for every £1 insured (May 2020), although this is subject to change.

18.3. How do I find someone to bottle my whisky?

If required Bordeaux Index can provide the contact details of third party independent bottlers with whom you can arrange bottling of your whisky. Bordeaux Index is not liable or responsible for managing and/or overseeing this process. As a guide, prices currently (May 2020) start from as little as £6 per bottle depending on the choice of bottle/decanter, label, box and any other desired presentation options.

18.4. Can you assist me with ongoing management of my whisky casks including quality control?

Please contact us directly to discuss your individual requirements.

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Having followed COVID-19 Government advice, we have temporarily closed our London office until further notice, we are however operating as normal. Click here to read more