Part 1: Selling on Broking
• To sell through Stannary Wine Broking Service, you must be an existing Stannary Wine customer
• The stock must be
o Stored in your Private Reserves with Stannary Wine
o Stored in Bond
o Stored in unsplit cases
o Stored in its original case
o Fully owned by you
o Wines must be within their drinking window.
o In good condition as determined by Stannary Wine.
o Exceptions on the above may be arranged in exceptional circumstances through your private account manager.
• If a third-party claims ownership of any wines you have relocated to Stannary Wine and offered for broking.
o Stannary Wine shall inform you as soon as is practical and has the right to withdraw the wine from the Broking List.
o Shall be entitled to retain such wine as part of your Private Reserves account until you and the third party have resolved the claim and have provided sufficient evidence to Stannary Wine in regards to ownership.
o If the claim occurs after the sale of the wine and Stannary Wine has yet to pay for the wine, than Stannary Wine shall be entitled to retain the sums until you and the third party have resolved the claim and have provided evidence of proof of ownership to Stannary Wine.
• You may at any time prior to a confirmed sale, instruct us in writing to withdraw the wine from sale on our broking list. Once a purchase of your wine has been agreed, you cannot withdraw your wine unless the purchase does not complete, for whatever reason.
• A selling price will be decided by mutual agreement between you and Stannary Wine. Stannary can advise on a suitable list price, but please note that Stannary Wine is not a financial institution and are not able to give financial advice. We recommend that prior to investing in wine you visit www.hmrc.gov.uk and/or speak to an Independent Financial Advisor. Selling prices can be amended by mutual agreement until a purchaser has confirmed their order. The price cannot change after this unless the purchase does not complete. For example, a purchaser can exercise their right to cancel within 14 days – see Placing An Order And Cancellation in our General Terms and Conditions.
• Prior to selling a Broking Wine, we will agree with you on the terms of the sale. Our standard commission is 10% of the price EX VAT of the wine.
• Stannary Wine retains the rights to de-list a broking wine after 180 days if no purchase has been made on the wine during that period. You will always be informed if we decide to de-list the wine.
• If the purchaser defaults on payment or cancels the purchase, then our purchase from you will not be completed and the wine will be returned to your ownership.
• Payment to you shall be made within 30 working days of completion of the purchase.
• Payment will be made by crediting your Stannary Wine account or by BACS payment to your bank account. Stannary Wine retains the right to use the funds to clear any overdue debt to your Stannary Wine account.
• The Broking wine will be listed for sale on www.stannarywine.com , and all relevant online platforms such as winesearcher.com. It may also be marketed in appropriate offers. By listing your wine on our broking list, you agree that we may contact prospective buyers with your listing price to increase the possibility of a purchase. Please note that Stannary will not disclose any details of your personal data.
Buying Wine on The Broking List
• Ownership of the case of wine will transfer from the seller to the buyer only on completion of the purchase.
• By confirming a purchase of a broking wine, you are agreeing to purchase that wine for its stated price regardless of whether the same wine is being sold for a cheaper price elsewhere on our list or on the website.
• If any description or price of the broking site is incorrect, Stannary Wine will not be liable to provide that item to you at the stated price provided that we notify you before we dispatch the item concerned or, in the case where we are not dispatching an item, within seven 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 the correct price in which case we will proceed with your order. If an item has been overcharged, a full refund of the difference will be given.
• Purchases of broking wines can be added to your online basket but are not reserved for you until the order has been checked-out and a confirmation email has been received. Standard Check-out processes apply.
• As broking purchases are from private customers, no credit can be offered including those customers who have an arranged credit facility with Stannary Wine.
If you purchase wine through the broking service as a consumer (you are an individual purchasing wine other than for business purposes) then you have the right to cancel the purchase within 14 days of the completion of your purchase.