Terms & Conditions
These Terms and Conditions are applicable to the supply of products and services by London Whisky Vault Limited. Terms and Conditions may change from time to time and the current version can be viewed at www.londonwhiskyvault.com
DEFINITIONS
‘Conditions’ or ’Terms’ – These Terms and Conditions and any relevant additional material to support the application of these Terms and Conditions agreed between the client and London Whisky Vault.
‘Contract’ – The placing and acceptance of orders verbally shall form a
contract in compliance with these Terms, conditional upon our written confirmation of the order which will be by the provision of an Invoice to you.
‘Client’ – A person or company with whom a contract for the provision of Products and or Services is made by London Whisky Vault and to whom London Whisky Vault provides products and services and also referred to in these Terms as ‘you’ or ‘your’.
‘Delivery Date’ – The date that your product is delivered to the storage facility organised by London Whisky Vault and where title is appropriated to you, or to your personal storage account.
‘Invoice’ – The order confirmation document for the product and services sold by London Whisky Vault to you.
‘Price’ – The price for the product and services as recorded on the Invoice provided to you.
‘Purchase’ – The completed order once your payment has been received and cleared at our bank account.
‘Right to Cancel’ – The Client has the right to cancel an order for the purchase of the product and services without giving any reason and without incurring any liability.
‘Services’ – Means any delivery, storage and insurance in connection with the product and or services by London Whisky Vault.
‘Storage Facility’ – Refers to the HM Revenue & Customs regulated storage facility in the UK which London Whisky Vault uses to store the product under bond on your behalf.
ORDER
1.1 By instructing and agreeing to the purchase and sending payment to us, you are accepting our offer to supply you with the product and services. The contract is in compliance with these Terms, conditional upon our written confirmation of the order which will be by the provision of an Invoice to you.
1.2 London Whisky Vault has the right to cancel any order at any point prior to receipt of your cleared funds in our bank account if necessary. You will be advised of this requirement to cancel the order; the contract will be cancelled and you will be offered alternative products with no commitment to transact.
LONDON WHISKY VAULT SUBSCRIPTION FEE
2.1 If the product remains in the London Whisky Vault arranged storage facility, then an agreed yearly charge will be invoiced to cover the ongoing services cost.
2.2 VAT will be charged on all services arranged and supplied by London Whisky Vault and any extended arrangements beyond the Initial Term in accordance with English Law.
PAYMENT
3.1 Payment for the product and or service is due 7 days from the day of receipt of Invoice.
3.2 Payment may be made by bank transfer, UK cheque or certain debit cards (Visa or Mastercard). All cards to be UK issued.
3.3 If Payment has been made and the client subsequently cancels the order, full reimbursement will be made by London Whisky Vault at the end of the 14 days after the day on which the client notifies London Whisky Vault of the cancellation of the order.
FAILURE TO PAY
4.1 In the unlikely event that payment is not made for the product or service at the end of the payment term London Whisky Vault will remind the Client of the payment requirement. Should this then not be settled London Whisky Vault will cancel the order in accordance with these Terms and Conditions.
DELIVERY
5.1 We will notify you of the expected delivery date of your product into the storage facility, any indication as to when wine & whisky(s) will be available for delivery is an estimate only and not to be construed as binding.
5.2 We will arrange collection and delivery of the product to the storage Facility.
5.3 London Whisky Vault will pay freight, carriage, insurance and other costs of delivery from the customers chosen pick-up to the storage facility.
STORAGE AND REMOVAL IN BOND
6.1 London Whisky Vault’s services include the arrangement of the storage and insurance of your product on your behalf at the designated storage facility.
6.2 We will manage the administration of the storage of your product for including the storage and insurance costs.
6.3 If at any time the product is removed from the storage facility, whether following a sale or your request for the product to be delivered to another storage facility, you will settle any necessary reasonable costs as notified for such removal. The cost of removing wine & whisky out of bond is available upon request.
6.4 We will notify you in advance of the costs of such removal and will be entitled to remove the product from our insurance policy from the time it leaves the storage facility.
6.5 The risk of any damage or loss to the product resulting from its removal as described in condition above will pass to you at the time the product leaves the storage facility. You will be responsible for insuring the product against damage or loss from this point unless the damage or loss results in negligence from the carrier or us.
6.6 If the product is lost or damaged at the storage facility, the insurance policy will pay the lower of the replacement value or the market value of the lost or damaged product.
DOCUMENTATION
7.1 Detailed condition reports will be concluded and distributed by the storage facility and forwarded to you using your chosen method of communication (email or post).
7.2 You will be able to visit the storage facility to view your wine and whisky.
SALE OF THE PRODUCT
8.1 You may sell your product at any time, although we would caution that fine wine and whisky is generally a medium to long term investment and generally should be held for at least 3 – 5 years to see the best returns.
8.2 We will assist you with the sale of your product on receipt of written instruction from you that you wish to do so or verbal communication to your adviser or email instruction, and will use best endeavours to achieve the best price obtainable in the market at that time. Prior to sale we will agree a minimum sale price you would accept.
AGENCY
9.1 You appoint London Whisky Vault to be your agent for the purpose of obtaining and retaining storage of the product at the storage facility and in relation to the sale of the product on your behalf.
LIABILITY & WARRANTY
10.1 The nature of the product and the fact that we are not involved in its production means that we do not give any warranty or make any representation as to:
(a) The suitability of the product for you as a speculator in its future price.
(b) The condition of the product at any time.
10.2 We do warrant that:
(a) We will engage only suitably qualified and reputable third parties to provide the storage facility, and
(b) We will ensure that the insurance described in these conditions are provided only by reputable insurers, and
(c) We will perform the services described in these conditions with professional skill, care and diligence.
10.3 Our total aggregate liability to you for loss of or damage to the product whether in transit or in storage.
10.4 Our total aggregate liability to you for a claim arising out of or in connection with the contract shall not exceed the price paid by you for the product which gives rise to the claim or liability.
10.5 Except as set out in these conditions we will have no liability to you arising out of the contract, whether the liability arises in contract, tort (including negligence) from the statute or otherwise.
AGE RESTRICTION
11.1 London Whisky Vault will not collect or deliver alcohol to anyone who is, or appears to be, under the age of 18. By placing an order with us you confirm that you are at least 18 years of age.
CRIME PREVENTION
12.1 For the purposes of the prevention or detection of offences, and/or the apprehension or prosecution of offenders, we may share information that we collect with the Police, other public or private sector agencies or representative bodies in accordance with the relevant legislation.
DATA PROTECTION
13.1 All data collected by London Whisky Vault is collected lawfully and maintained in accordance with the Data Protection Act 1998.
13.2 We will not pass your details to a third party without your permission, other than when necessary, during the fulfilment of our services if appropriate.
13.3 London Whisky Vault may, from time to time, send information including industry news and events and exclusive deals by email. You can register to receive these at www.Londonwhiskyvault.com or by providing your email address details to a London Whisky Vault representative.
FORCE MAJEURE
14.1 London Whisky Vault shall not be liable for any delay in delivering your wine & whisky if that delay or failure is caused by circumstances out of our control such as war, riot, civil commotion, malicious damage, compliance with any law or government order, rule, regulation or direction, fire, flood, weather or Act of God, failure of ISP or telecommunications provider in connection with the terms of our contract.
GENERAL
15.1 Description/Quality – We undertake the proper safekeeping and storage of wine & whisky(s) in our possession and will act in good faith when purchasing wine & whisky but we will not be responsible for the state and condition of wine & whisky(s) or whether the wine & whisky corresponds to the qualities which might be expected from its description.
15.2 London Whisky Vault may make amendments to these Terms and Conditions from time to time for legal, regulatory or security reasons and will not use this right to vary the Terms of any special offer that applies to you.
CONTACT
London Whisky Vault Limited
Registered address: Suite 1B, First Floor, 15 The Broadway, Woodford Green, Essex, IG8 0HL
Email: enquiries@Londonwhiskyvault.com
Telephone: 0204 518 1355
Registered in England, Co. No. 11807599, VAT No. 317198686
GOVERNING LAW
These terms and conditions shall be governed by and construed in accordance with the laws of England and any disputes will be decided upon only by the English courts.
LONDON WHISKY VAULT DISCLAIMER
London Whisky Vault is not regulated by the Financial Conduct Authority (‘FCA’) and as such is not permitted to offer financial advice about regulated investments. We strongly encourage you to consult an FCA-registered Independent Financial Adviser (‘IFA’) before committing to any investment.
No offers are in any way invitations to participate in a collective investment scheme as defined in the Financial Services and Markets Act 2000 (section 235) and as such buyers have no access to statutory or regulatory protections including the Financial Ombudsman Service and the Financial Services Compensation Scheme (‘FSCS’).