BI Wines & Spirits - Terms & Conditions
1. Minimum Order Policy
We have a minimum order of £250 (per order, ex. VAT and duty) or a full unmixed case of 12 bottles.
2. Private Sales
Deliveries over £1,000 within mainland UK will be free of charge. Those below and outside mainland UK will be charged at cost.
3. Trade Sales
All wines are sold ex-Octavian Colerne. Onward delivery charges duty and VAT will be charged as appropriate upon shipment. Export customers can be put in contact with a suitable freight forwarder.
4.1 Unless an account facility is held, payment will be due on invoice. Exports accounts are payable 30 days from invoice but prior to export of goods, unless otherwise agreed.
4.2 In the event of non payment of account within the specified terms, we reserve the right to charge a cancellation fee of up to 20% of the outstanding amount, or actual losses incurred by BI Wines & Spirits as a result of cancellation if greater than 20%. BI Wines & Spirits reserves the right to utilise any monies held on account or otherwise received from or on behalf of the customer to discharge any such cancellation fees.
4.3 BI Wines & Spirits shall be entitled to charge interest on unpaid invoices at 8% over Bank of England base rate from the date payment was due.
4.4 BI Wines & Spirits shall be entitled to sell any wines which it is holding or storing on behalf of a customer to discharge outstanding invoices (whether on account of cancellation fees, interest or otherwise). BI Wines & Spirits will account to the customer for any cash balance held after discharging all outstanding invoices.
4.5 BI Wines & Spirits only accepts credit cards issued outside the EEA. BI Wines & Spirits accepts all debit cards. (Visa, Mastercard, Maestro, Electron, Solo).
Title to all wines shall remain with BI Wines & Spirits until all sums due from the buyer are paid in full.
Any wines not collected within one month of release date will be stored in our private client reserves at a cost of £2.63 excluding VAT 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 (or part thereof). Any cases above 4.5 litres and up to and including 9 litres (the equivalent of 12 regular bottles) will be charged at the full case rate of £5.25 excluding VAT per case per 6 month period (or part thereof).
The charging periods are January-June and July-December each year, invoiced in arrears.
7. Quality Control
BI Wines & Spirits makes every effort to ensure that all wines we sell are of impeccable quality and in a condition appropriate for the age of the wine, 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, BI Wines & Spirits 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. 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 up for a number of days before opening and drinking.
8. Force Majeure
The company will not be liable for failure to meet agreed obligations due to prevailing circumstances beyond our reasonable control.
All contracts are subject to English law and jurisdiction. All wines are offered subject to market movement and remaining unsold.
10. Duty and VAT
Wines are offered for sale under bond, but some are available duty paid. Those required for UK home use are subject to duty & VAT at the prevailing rates. Duty paid wines 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 BI Wines & Spirits, or else UK VAT will be payable by the customer.
LiveTrade Terms and Conditions
11.1 Registration is required to access the LiveTrade (LT) platform on the BI Website.
11.2 Participants may register with us by providing their full name, address, phone number, email address, bonded storage account number and relevant address details and may also be required to provide proof of identity and address.
12. Offering – obligation to supply
12.1 By offering a wine for sale you are creating a contractual obligation upon trade completion.
12.2 Users must ensure that all details relating to offers including price, wine, vintage, pack size, are correct.
12.3 Completed trades will only be voided at the discretion of BI.
13. Bidding - fulfilment of stocks
13.1 By placing a bid you are creating a contractual obligation upon trade completion.
13.2 Whilst bids are listed specifically by pack size we reserve the right to deliver 6 or 12 packs to fulfil the volume you are buying.
13.3 Completed trades will only be voided at the discretion of BI.
14.1 Upon trade completion BI will send a confirmation email. 14.2 If no confirmation email is received and no confirmed transaction appears on the buyer or seller’s online account you should contact us.
15. Errors and Omissions
15.1 While we have employed failsafe measures errors may occur (whether a technical error, a participant inputting a price incorrectly or otherwise).
15.2 If there is an obvious error in the price of wines sold or purchased, we will inform the buyer or seller as soon as possible and give them the option of reconfirming the order at the correct price or cancelling the order. If we are unable to contact you, you agree that we may treat the order as cancelled without any liability to BI.
16. Logistics – collection and delivery
16.1 All trades are Ex-Octavian or Ex-Dartess Bordeaux.
16.2 A ‘case’ is an OWC/OCC of 12 or 6 bottles.
16.3 Collection can be arranged from the following locations:
• Berry Bros
• The Wine Society
16.4 Collection will be charged according to the following scale:
• 1-5cs – GBP 10 per case
• 5-10cs – GBP 8.50 per case
• 10cs+ - GBP 7.50 per case
16.5 If the seller wishes to deliver, delivery must be made to Octavian (or Dartess where relevant) and specified at the time of trade.
16.6 Any charges associated with delivery to Octavian (or Dartess where relevant) will be borne by the seller.
16.7 The seller accepts responsibility for secure and timely delivery of the wines.
16.8 The seller also accepts responsibility for deliveries that go missing and must investigate the outcome with their provider in a timely manner.
16.9 Proof of Delivery (POD) may be required from the seller to assist the confirmation that goods have arrived safely as required.
16.10 Delivery of purchased goods will be charged at our standard rates as advertised on our website (LT Pro users see point 13.3).
16.11 Delivery to Dartess is offered on a 2-weekly basis at a charge of GBP 5 per case.
17. Stock availability
17.1 Sellers must ensure that wines sold through LT are made available at Octavian (or Dartess where relevant) within 15 working days of transaction.
17.2 Longer lead times will need to be agreed prior to listing.
17.3 On completion of a trade, sellers must send a copy of the warehouse release/transfer order within 24 hours of the PO.
18. Stock condition
18.1 LT transactions are restricted to wines that meet the following criteria:
• Perfect bottle condition including levels, labels and capsules, with no strip or import labels
• In Bond
18.2 It is the responsibility of LT users to ensure that wines offered meet these standards.
18.3 Sellers will be given the opportunity to upload a photograph of the stock they are offering. If no photograph is uploaded, the seller will incur a fee if a photograph is deemed necessary to satisfy the expectations of the buyer.
18.4 Photographs will be charged as follows:
• 1-5cs – GBP 5 per case
• 5-10cs – GBP 4 per case
• 10cs+ - GBP 3 per case
18.5 The seller must ensure when providing condition photos that no details which could reveal the seller’s identity are visible. BI reserves the right to alter any condition photos in order to hide such information.
19. Changes, Cancellations and Returns
19.1 Whilst buyers and sellers are entering a legally binding contract when placing bids and offers, BI recognises that through the nature of wine storage, errors can occur unbeknown to the seller. In circumstances beyond the seller’s control, at our discretion we will notify the buyer of an error occurring and discuss all options available to them.
19.2 This may result in one of the following:
• An identical replacement being sought by the seller at their cost
• Negotiation of a suitable lower price agreeable to both parties
• A suitable alternative as agreed by the buyer
• A full refund
19.3 The seller acknowledges it has confirmed a contract and is legally bound to supply the relevant product in the appropriate condition.
20. Post trade cancellation - Seller
20.1 BI reserves the right to cancel a sale agreement if stock is not provided, does not meet stock condition criteria or is supplied outside the stated timeframe.
20.2 The seller can request to cancel after a sale agreement has been made but as specified in points (2) and (3) this will only be done at the full discretion of BI.
20.3 BI reserves the right to charge the seller all costs associated with a post-trade confirmation cancellation, including the cost of replacement stock.
20.4 Costs associated with returning stock following a seller-side post-trade cancellation will be charged to the seller.
21. Post trade cancellation - Buyer
21.1 BI reserves the right to cancel a sale agreement if payment is not made within the stated timeframe.
21.2 The buyer can request to cancel after a sale agreement has been made but as specified in points 12 and 13 this will only be at the full discretion of BI.
21.3 BI reserves the right to charge the buyer all costs associated with a post-trade confirmation cancellation.
21.4 Costs associated with returning stock following a buyer-side post-trade cancellation will be charged to the buyer.
22. Payment Terms
22.1 Payment to sellers will be made 3 business days after stock inspection has been completed at Octavian or Dartess.
22.2 Payment will be made by BACS.
22.3 Outstanding debts may be deducted prior to payment.
23. Access to LiveTrade Pro
23.1 LiveTrade Pro (LTP) access is by invitation only and given at the discretion of BI.
23.2 LTP access can be removed at BI’s discretion.
23.3 BI’s standard policy of free delivery on orders over GBP 1000 will not apply to goods purchased through LTP unless otherwise agreed.
24. Offering stock
All wine placed on the BI Wines & Spirits broking list must either be in a BI Wines & Spirits customer reserve account or transferred to BI Wines & Spirits for inclusion in an existing or new customer reserve account prior to inclusion on the BI Wines & Spirits broking list.
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 wines will be visible on the BI Wines & Spirits stock list and website and marketed in all relevant offers via our London, Hong Kong, Los Angeles and Singapore offices.
By entering your wine on the broking list you agree to BI Wines & Spirits selling your wine at or above the sale price entered. You acknowledge that BI Wines & Spirits has exclusive right to sell your listed wine and no further confirmation is required from the seller prior to BI Wines & Spirits selling the wine. Upon confirmation of sale at or above the agreed price entered in the BI Wines & Spirits broking list, BI Wines & Spirits will issue you with a purchase order. The net payment due to the seller will be the sales proceeds less a 10% broking fee. Payment will be settled within 15 working days of confirmation of the sale.
All sales will be processed and paid in GBP. If you do not have an account in GBP we will open one for you and all BIX sales will be processed through this account. We will not be able to make contra payments to accounts in non-GBP currencies.
Upon confirmation of sale at or above the agreed price entered in the BI Wines & Spirits broking list, BI Wines & Spirits will issue you with a purchase order. The net payment due to the seller will be the sales proceeds less a 10% broking fee. Payment will be settled within 15 working days of confirmation of the sale.
Once a sale has been confirmed the seller may not remove the wine from sale. As the seller, you are free to request for your wines to be removed from the broking list, at any time prior to confirmation of a sale. If you wish to remove any wine 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 BI Wines & Spirits website or sending instructions by email to firstname.lastname@example.org.
BI Wines & Spirits shall give you access to valuation guides including an estimated market valuation and a suggested range of sale prices against the wines in your BI Wines & Spirits customer reserve account via the My Cellar page on the BI Wines & Spirits website.
Once a sale price is entered on the BI Wines & Spirits broking list, the proceeds due to the seller are fixed and will not be adjusted in line with market conditions. If market prices move such that the broking price is no longer appropriate BI Wines & Spirits may, but is not obliged to, suspend the listing of the wine and inform you.
By confirming the listing of your wine on the BI Wines & Spirits broking list you acknowledge your acceptance of these terms and conditions.
Terms and Conditions of Storage
These terms and conditions apply to any storage or similar services provided by us, BI Wines & Spirits Limited (“we” or “us”) to you, the customer (“you”).
We will not be bound by any other terms and conditions which you may supply or seek to impose on us.
25. Placing wines into storage
25.1 In order to place wines in our storage facility you will need to notify us:
i. when agreeing to buy the wines, where you opt for us to store wines you have bought from us; or
ii.in any other case in advance of sending the wines to us for storage in which case we will supply you with a booking-in reference. Should any wines arrive without a booking-in reference we reserve the right to refuse receipt of the goods into our storage facility. Prior to sending wine 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 agreement.
25.2 Unless we have agreed to arrange for collection or we have sold the wines to you and are placing the wines immediately into storage, you will be responsible for sending the wines to us for storage. You will also be responsible for insuring the wines in transit unless we agree to collect the wines. We reserve the right to apply a collection charge if we collect wines for storage on your behalf.
25.3 If wines purchased from us are not collected or delivered within 60 days of the later of the date of the invoice or of the wines becoming available for collection or delivery you agree that we will place the wines into storage and these storage terms will apply.
25.4 Please note that we will not inspect wines when sent to us for storage. We will not take any steps to verify nor accept any liability for the authenticity, provenance, quality or condition of any wines bought from third parties when placing them in our storage facility or while storing the wines.
25.5 If you have purchased the wines 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.
26. How we store the wines
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.
27.1 Our storage charges will be set out on our website and may change from time to time.
27.2 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.
27.3 Our storage charges will be charged on the basis of a charge for each 4.5 litre case of wine (or part thereof) per six month period (or part thereof). For charging purposes the volume of any case will be rounded up to the next whole multiple of 4.5 litres. Any wine placed in storage during a charging period will be subject to a charge of a full six months for that period and any wine removed from storage during a charging period will be subject to a charge of a full six months for that period and accordingly we will not refund any unused portion of a six-month storage charge.
27.4 Your obligation to pay our storage charges for a case of wine will commence on the date we have agreed to store the wine.
27.5 You agree to discharge the cost of any unpaid storage before removing any wines 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 wines from storage and this invoice will be immediately due for payment.
28. Ownership and insurance
28.1 You will retain ownership of all of the wines we hold on your behalf at our storage facility, subject always to our rights under clause 20 below.
28.2 We agree to arrange for the wines held on your behalf to be insured against damage, loss or theft at the lower of replacement or market value. 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.
29. Taking wines from Storage
29.1 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 requests we may require more than two business days’ notice.
29.2 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.
29.3 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.
30. Unpaid charges
30.1 We will be entitled to charge interest on any sums owing to us at the rate of 8% above the Bank of England base rate from the date payment is due.
30.2 In the event that any amount is owing from you to us (whether that amount arises under our terms of sale, these storage terms, as a result of interest charges or otherwise) then you agree that we will have the right to purchase any of your wines 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 wines and we will then be free to sell or otherwise deal with those wines at our discretion and we will not be required to account to you for any further sums received by us for those wines.
30.3 In order to exercise our right to purchase wines 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 wines. 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 wines which are held by us.
30.4 Upon purchasing the wines, we will credit you with the purchase price of the relevant wines (the “credit amount”). The purchase price will be the LiveTrade bid price for wines traded on our LiveTrade market-making screen or 80% of market value for other wines. 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 20.3 is sent by us.
30.5 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 wines and credited the credit amount to you then the balance (including interest at the rate specified in clause 20.1) shall remain payable by you.
30.6 Our right to purchase wines we hold for you to satisfy your liabilities does not affect any other remedies we may have.
30.7 You agree that given that the credit amount represents the typical price we would pay for the relevant wines, and given the existence of fluctuating demand and prices for wines the above terms are reasonable.
31.1 Our liability in connection with these terms and conditions is limited to:
i.in the case of loss or damage to the wines, 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.
31.2 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.
31.3 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. Given the nature of the product we do not provide refunds for corked wine.
31.4 We are not responsible for advising you about maturation dates or ideal drinking windows for the wines (which are, in any event, subjective).
31.5 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.
31.6 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. This 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 or other natural physical disaster.
32.1 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.
32.2 If any provision of these terms and conditions 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 conditions and the remainder of the provision in question shall not be affected.
32.3 We will not be liable for any failure to meet our obligations occasioned by circumstances beyond our reasonable control.
32.4 These terms and conditions 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.