Definitions
"Agreement" refers to the contract established between The Customer and The Company, encompassing these Terms and Conditions, the invoice, and any other documents that constitute the entirety of the agreement.

Business Day Clarification
A "Business Day" constitutes any day from Monday to Friday, excluding Saturday, Sunday, and any days on which commercial banks are closed for business in the jurisdiction where The Customer's primary office (for non-natural persons) or primary residence (for natural persons) is located.

Cask Management Overview
"Cask Management" describes the specific arrangement regarding the management of The Customer’s Casks as agreed upon with The Company.

Cask Description
A "Cask" is identified as a wooden barrel used for storing spirit, with specifics provided in the accompanying invoice.

Dealing Explanation
"Dealing(s)" pertains to any transactions involving the purchase of Cask(s) from The Company.

Default Rate Information
The "Default Rate" is defined as the sum of the Bank of England Base Rate plus an additional two percent (2%) per annum.

Delivery Process
"Delivery" or "Delivered" signifies the process by which The Customer’s Casks, post-purchase from The Company, are physically transferred and matured in a bonded warehouse under the supervision of The Company.

Dispute Definition
"Dispute" includes any disagreements, lawsuits, or claims that arise from, or are related to, the Agreement between The Parties, including issues of validity, interpretation, or termination.

 

Terms of Contract

Order and Offer
The Customer's order represents an offer to buy Casks under these Conditions. The Customer must ensure the order's accuracy and completeness.

Entire Agreement
This contract is the comprehensive agreement between the parties. The Customer confirms that their agreement is based solely on this document, without reliance on any external promises or statements.

Marketing and Promotional Materials
Materials produced by The Company for promotional purposes are intended only to provide an approximation of the Casks and do not constitute a part of the contract.

Asset Purchase and Administration
This contract covers the purchase and management of Casks by The Customer from The Company. Complete payment for the cask is required before placement of an order. Ownership, insurance, and inspection are under The Company's management.

Ownership and Transfer
The Customer will be recognised as the registered owner of the Cask(s), with full title transfer occurring upon certain conditions such as sale or administrative changes.

Order Process
Orders is be completed once the payment has been made, relevant documents submitted and compliance form completed. Compliance with AML and KYC laws is required.

Storage and Insurance
The Cask is stored under bond, with The Company retaining the right to change storage locations. Insurance covers loss due to fire, leakage or theft, with initial costs included for five years. Movement costs apply.

Ageing and Sale Recommendations
The spirit must age for three years to be designated ‘Scottish Whisky’. The Company advises against selling the cask before three to five years to avoid losses.

Tax Liability
The Customer is responsible for any taxes resulting from the sale or disposal of the cask.

Leakage and Yield
The Company is not liable for leakage or the exact yield from the cask, known as 'the angels' share'.

Ownership Certification
The Company will issue electronic Certification of Ownership within five business days of order completion.

Removal Responsibility
Upon removal from the bonded premises, The Customer assumes all responsibilities related to the cask's safety, legality, and compliance.

Value Projections
Any future value projections of casks are potential and not guaranteed.

Distillery References and Trademarks
Usage of distillery-related branding or information in customer marketing requires express written consent.

Cask Movement Costs
If The Customer decides to move their Cask(s) to a different bonded warehouse to obtain a delivery order, The Company will assist in the process. An example of the costs associated with this service are itemised as follows: Cask Rent Recharge: £65; Removal Fee: £40; Transport Recharge: £396; Intake Delivery Order Recharge: £25; Administrative Fee: £50

The total cost for the cask transfer and delivery order acquisition will be communicated to The Customer upon request. These fees are based on the charges from the involved warehouses, transportation services, and The Company's administrative efforts. The Customer is responsible for these costs, which will be invoiced and payable to The Company.

Samples and Reguagements

Sample drawn from cask £125.00 + duty & shipping

Reguagements of casks in storage £180.00. 

Reguagements of casks on arrival £120.00 (organised before casks go into storage.)

VAT

Unless stated otherwise, all prices are subject to the prevailing Value Added Tax (VAT) applicable in the United Kingdom.

Jurisdiction and Governing Law
This agreement, and any disputes or claims that arise from or relate to its subject matter or formation (including non-contractual disputes or claims), are governed by and construed in accordance with the laws of the Republic of Singapore. Each party irrevocably agrees that the courts of the Republic of Singapore shall have exclusive jurisdiction to resolve any disputes or claims that arise from or relate to this agreement or its subject matter or formation (including non-contractual disputes or claims).

 

Disclaimer
Past performance is not indicative of future results. Investments can fluctuate, and it is possible to lose some or all of your money. Relying solely on historical data may not reflect future risks or opportunities.

 

January 2024