Purchase of Fine Wine & Whisky Cask Services

These Terms and Conditions apply to the purchase of fine wine, champagne, whisky casks, and related services provided by Fine Worth Ltd.

Definitions

In these Terms and Conditions, the following definitions apply:

Business Day means a day other than a Saturday, Sunday, or public holiday in the UK when banks are open for business.

Bonded Account means a private account with a Bonded Warehouse.

Bonded Warehouse means a UK HMRC-regulated bonded storage facility used to store wine, champagne, whisky, or whisky cask stock under bond in a controlled duty-suspended environment.

Client, Customer, You, or Your means the purchaser, customer, or private individual giving instruction to purchase Stock.

Company, Fine Worth, We, Us, or Our means Fine Worth Ltd, Old Broad Street, Tower 42, London, EC2N 1HN.

Conditions means these Terms and Conditions, together with any additional terms agreed between you and Fine Worth in writing.

Contract means the agreement between you and Fine Worth for the purchase, supply, storage, management, or sale of fine wine, champagne, whisky casks, or related services.

Delivery Date means the date on which the Stock is delivered to a Bonded Warehouse facility by the Supplier or Fine Worth.

Escrow Company means an independent company authorised or regulated where required for the provision of secure payment services.

Management Terms means Fine Worth’s terms relating to the management, storage, transfer, insurance, or sale of Stock, including any applicable fee structure.

Payment means receipt of cleared funds into the Fine Worth bank account or, where applicable, the Escrow Company’s bank account for the full value of the Stock or services purchased.

Premium Client means any client who has subscribed to Fine Worth’s premium or enhanced client services, where such services are made available.

Service means the service provided by Fine Worth in acting as your agent, introducer, negotiator, or portfolio management provider to source, purchase, store, manage, transfer, or sell Stock on your behalf.

Stock or Goods means fine wine, champagne, whisky bottles, whisky casks, or related investment-grade assets offered to you by Fine Worth.

Stock Reservation Form means the purchase order, reservation form, invoice, or written confirmation issued by Fine Worth in accordance with your purchase instruction.

Supplier means the person, merchant, trader, broker, distillery, warehouse, or supplier that provides Stock to Fine Worth.

1. Business and Consumer Customers

Customers who fall under the definition of “consumer” under the Consumer Rights Act 2015 may have different rights from business customers.

You are a Business Customer if you are buying products or services wholly or mainly for use in connection with your trade, business, craft, or profession.

Consumer Customers may have additional rights, including cancellation rights, remedies, and compensation rights where applicable.

2. Basis of Contract

These Terms and Conditions apply to the Contract between you and Fine Worth.

If you are a Business Customer, these Conditions apply to the exclusion of any other terms you seek to impose or incorporate, or which are implied by trade, custom, practice, or course of dealing.

By entering into this agreement, you confirm that:

• You have read and understood these Terms and Conditions.

• You agree to comply with all applicable laws, including anti-bribery, anti-corruption, anti-money laundering, and tax regulations.

• You will cooperate with reasonable requests for information, including identity, age, source of funds, and other verification documentation.

• You understand that Stock will not be transferred, delivered, or released until Fine Worth has completed any necessary checks.

• You understand that Fine Worth may manage Stock on your behalf in accordance with these Conditions and any applicable Management Terms.

3. Investment Warning

Fine Worth does not provide financial advice.

Any information provided by Fine Worth, including market commentary, historic pricing, comparable sales, or projected market trends, is provided for general information only and must not be treated as financial, investment, tax, or legal advice.

You acknowledge that:

• The value of Stock can rise or fall.

• Past performance is not a guarantee of future performance.

• Fine wine, champagne, whisky bottles, and whisky casks are alternative assets and may involve risk.

• Market demand, storage conditions, provenance, liquidity, tax treatment, and wider economic factors may affect value.

• You should seek independent financial, legal, and tax advice before making any purchase or sale decision.

Fine Worth gives no warranty or guarantee as to the future value, profitability, liquidity, or investment performance of any Stock.

4. Orders

By signing, approving, or otherwise confirming a Stock Reservation Form, invoice, or written purchase instruction, you instruct Fine Worth to purchase the Stock described.

A Contract is formed only once:

• Fine Worth has received cleared funds or confirmation of cleared funds from an Escrow Company.

• Satisfactory identity and anti-money laundering checks have been completed.

• Fine Worth has formally accepted your instruction.

Fine Worth reserves the right to reject any order or instruction. If this occurs, we will notify you as soon as reasonably possible and refund any sums already paid, less any lawful deductions or costs already incurred where applicable.

You are responsible for ensuring that all details on the Stock Reservation Form are complete and accurate.

Descriptions, images, illustrations, brochures, website content, or marketing materials are provided for general guidance only and do not form part of the Contract unless expressly confirmed in writing.

5. Term and Renewal

Where Fine Worth manages Stock on your behalf, the agreement shall commence on the Delivery Date and continue for an initial term of five years, unless terminated earlier in accordance with these Conditions.

The agreement may automatically renew for further five-year periods unless either party gives written notice not less than three months before the end of the relevant term.

Fine Worth reserves the right to review and update its Terms and Conditions prior to any renewal period.

6. Goods and Stock

Fine Worth will use reasonable endeavours to source the Stock described in your Stock Reservation Form.

Due to the limited availability of certain fine wines, champagnes, whisky bottles, or whisky casks, Fine Worth may offer suitable alternative Stock where the original Stock is unavailable.

Where an alternative is offered, you will have 10 Business Days to accept or reject it. If you reject the alternative, or fail to respond within that period, we may treat the alternative as refused and issue a refund for the relevant Stock.

Where Stock is acquired from a third party, availability and pricing may change between the issuing of a Stock Reservation Form and the completion of purchase. Fine Worth will notify you if this occurs.

You acknowledge that certain Stock may form part of a wider holding, parcel, cask, bonded account, or warehouse-managed allocation, subject to the nature of the asset purchased.

7. Cancellations

Cancellation requests must be made in writing and received within 14 Business Days of the Contract being formed, unless the Stock or services fall within an exemption under applicable consumer law.

Where cancellation rights apply, Fine Worth will issue a refund using the original payment method, less any lawful deductions for services already provided, storage, transfer, handling, or third-party costs already incurred.

8. Delivery

Fine Worth may receive delivery of Stock on your behalf into a Bonded Account at a Bonded Warehouse.

The Delivery Date shall be the date on which the Stock is received at the relevant Bonded Warehouse.

Fine Worth will notify you of the Delivery Date as soon as reasonably possible after receiving confirmation from the relevant Supplier, warehouse, or logistics provider.

Delivery times are estimates only and time shall not be of the essence.

Fine Worth may request further information from you where required to verify your identity, confirm your Bonded Account, complete compliance checks, or comply with legal obligations.

9. Delays Outside Our Control

Fine Worth shall not be liable for delays caused by events outside our reasonable control, including supplier delays, bonded warehouse delays, logistics issues, regulatory checks, payment delays, third-party failures, or your failure to provide required information.

Where a significant delay occurs, Fine Worth will contact you as soon as reasonably possible and take reasonable steps to reduce the delay.

10. Storage and Removal

Stock may be stored in a Bonded Warehouse under appropriate professional storage conditions.

For fine wine and champagne, storage conditions may include temperature-controlled, humidity-controlled, or bonded storage facilities.

For whisky casks, storage will generally be within HMRC-approved bonded warehouse facilities suitable for cask maturation and duty suspension.

You are responsible for any applicable storage, insurance, transfer, handling, administration, or removal costs relating to your Stock, unless otherwise agreed in writing.

If Stock is removed from bond, transferred, bottled, or delivered to a non-bonded location, you may become liable for VAT, duty, import charges, bottling costs, logistics costs, or other applicable taxes and fees.

Fine Worth may charge an administration fee for removal, transfer, or release requests.

11. Stock Title and Documentation

Title to Stock passes to you only once:

• Fine Worth has purchased or secured the Stock from the Supplier.

• Payment has been received in full.

• Any required compliance checks have been completed.

Fine Worth, the Supplier, or the Bonded Warehouse may provide evidence of ownership, stock receipt, certificate of ownership, warehouse documentation, or equivalent confirmation depending on the nature of the Stock purchased.

12. Price and Tax

Unless otherwise stated, Stock is offered in bond in Pounds Sterling and exclusive of VAT, duty, import tax, bottling costs, or other applicable taxes.

Where Stock remains under bond, certain taxes and duties may be suspended until the Stock leaves the bonded facility or is bottled, removed, delivered, or otherwise released.

You are responsible for understanding and paying any applicable taxes, duties, charges, or costs arising from your purchase, ownership, storage, transfer, bottling, or sale of Stock.

All Stock prices are determined by Fine Worth and may include a commercial mark-up, sourcing fee, purchase premium, logistics cost, storage arrangement cost, or administration charge.

You acknowledge that similar Stock may be available elsewhere at a lower or higher price.

13. Subsequent Sales

You may request that Fine Worth provides an estimated market value for your Stock.

You may also appoint Fine Worth to act as your agent in the sale of your Stock.

Where Fine Worth assists with a sale, Fine Worth may charge a brokerage, administration, or sales fee. Unless otherwise agreed in writing, Fine Worth may charge a brokerage fee equal to 10% of the difference between the original purchase price and the final sale price, or another fee agreed with you in writing.

Where Stock is sold, Fine Worth may deduct any outstanding fees, storage costs, insurance costs, administration fees, taxes, or charges before accounting to you for the balance.

Fine Worth may refuse to facilitate a sale or transfer to any buyer who fails onboarding, identification, anti-money laundering, warehouse, or compliance requirements.

14. Lien

If you fail to pay any sums due under this Contract, Fine Worth may retain possession or control of your Stock until outstanding sums are paid.

Fine Worth may give written notice of default and, where payment remains outstanding, may sell or dispose of some or all of the Stock in its possession to recover amounts due, together with reasonable costs of sale, administration, storage, insurance, and disposal.

Any remaining balance after deduction of sums owed will be remitted to you.

15. Liability and Warranty

Nothing in these Conditions limits or excludes liability for:

• Death or personal injury caused by negligence.

• Fraud or fraudulent misrepresentation.

• Any liability which cannot lawfully be excluded.

Fine Worth does not warrant or guarantee the future value, market demand, liquidity, profitability, or investment performance of any Stock.

Fine Worth warrants that it will:

• Use reasonable skill and care in providing its services.

• Use reasonable endeavours to work with reputable Suppliers, warehouses, insurers, brokers, and service providers.

• Provide services in accordance with these Conditions.

Fine Worth shall not be liable for:

• Losses caused by market movement.

• Loss of profit or investment underperformance.

• Natural evaporation, ullage, leakage, or cask variation.

• Changes in alcohol by volume, volume, or maturation profile of whisky casks.

• Deterioration caused by improper storage after Stock leaves Fine Worth’s control.

• Events outside Fine Worth’s reasonable control.

• Indirect or consequential losses.

For Business Customers, Fine Worth’s total liability shall not exceed the price paid by you for the relevant Stock or service.

16. Consumer Customer Rights

Consumer Customers may have a legal right to change their mind within 14 days, subject to exceptions.

Cancellation rights may not apply to:

• Services already completed.

• Goods made to your specification or personalised.

• Goods that become inseparably mixed with other goods.

• Goods where market price is subject to fluctuations outside Fine Worth’s control.

• Goods transferred, stored, bottled, or handled at your request.

Where a valid cancellation is accepted, you may be responsible for return, storage, transfer, handling, or service costs already incurred.

Consumer Customers are encouraged to seek guidance from Citizens Advice or another appropriate legal advice service.

17. Business Customer Rights

For Business Customers, Fine Worth warrants that Stock shall, on delivery:

• Correspond with its description.

• Be free from material defects so far as reasonably ascertainable.

• Be of satisfactory quality where applicable.

• Be fit for any purpose expressly confirmed by Fine Worth in writing.

Fine Worth shall not be liable where:

• The Business Customer continues to use or hold the Stock after notifying Fine Worth of an issue.

• The Business Customer fails to follow storage, handling, transfer, or care instructions.

• The Stock is altered, tampered with, bottled, moved, or transferred without Fine Worth’s written consent.

• The issue arises from fair wear and tear, natural maturation, evaporation, leakage, negligence, abnormal storage, or handling conditions.

18. Whisky Cask Monitoring and Regauging

Where Stock includes whisky casks, you acknowledge that whisky casks are naturally affected by evaporation, leakage, wood interaction, maturation conditions, and changes in alcohol by volume.

Fine Worth may recommend that casks are periodically inspected or regauged.

General guidance may include:

• Casks aged five to ten years may benefit from regauging every two years.

• Casks over ten years old may benefit from annual regauging.

You acknowledge that regauging, monitoring, and ongoing inspection of casks is your responsibility unless otherwise agreed in writing.

Fine Worth shall not be liable for your failure to regauge, inspect, monitor, insure, or manage your Stock appropriately.

19. Bailment

Where Stock is held by Fine Worth on your behalf, you agree that it may be held in bailment.

This means Fine Worth may have physical control, custody, or warehouse account control of the Stock, while you retain title to the Stock subject to these Conditions.

Fine Worth shall:

• Provide services with reasonable care and skill.

• Keep Stock in a suitable Bonded Warehouse unless being transported or transferred according to your instructions.

• Take reasonable steps not to prejudice your title or rights.

• Deal with Stock only in accordance with your instructions, these Conditions, or applicable law.

You shall:

• Ensure Stock is adequately insured where required.

• Pay applicable storage, insurance, transfer, handling, and warehouse costs.

• Provide requested information promptly.

• Comply with HMRC, warehouse, tax, and regulatory requirements.

20. Termination

Fine Worth may terminate the Contract with immediate effect by giving written notice if:

• You commit a material breach and fail to remedy it within 7 days.

• You fail to pay sums due.

• You fail to provide required compliance information.

• You become insolvent or unable to meet your obligations.

• Your conduct creates legal, regulatory, reputational, or financial risk to Fine Worth.

Termination shall not affect rights and obligations accrued before termination.

Any clause intended to survive termination shall remain in force.

21. Change of Control

If you are a Business Customer, you must notify Fine Worth immediately in writing if there is a change of control in your business.

Fine Worth may terminate the Contract following such change of control where reasonably necessary.

22. Severance

If any provision of these Conditions is found to be invalid, illegal, or unenforceable, that provision shall be deleted or modified to the minimum extent necessary.

The remaining provisions shall continue in full force and effect.

23. Assignment and Transfer

Fine Worth may assign, transfer, subcontract, or delegate its rights or obligations under the Contract.

You may not assign, transfer, subcontract, or delegate your rights or obligations without Fine Worth’s prior written consent.

24. Waiver

A waiver of any right or remedy is only effective if given in writing.

Failure or delay in exercising any right shall not constitute a waiver of that right.

25. Third Party Rights

A person who is not a party to the Contract shall not have rights under or in connection with it.

26. Variation

Any variation to these Conditions must be agreed in writing by Fine Worth.

Fine Worth may update these Terms and Conditions from time to time to reflect changes in law, regulation, business practice, or services offered.

27. Governing Law and Jurisdiction

These Terms and Conditions, the Contract, and any dispute or claim arising from them shall be governed by and construed in accordance with the laws of England and Wales.

The parties submit to the exclusive jurisdiction of the courts of England and Wales.

Company Details

Fine Worth Ltd
Old Broad Street, Tower 42
London
EC2N 1HN

Email: info@fineworth.co.uk
Telephone: +44 207 046 0823 25