Account Terms & Conditions

May 2014

These Terms & Conditions form a contract in relation to the provision of warehousing, distribution, data and other services between Arc Reserves Ltd and the 'Customer' being the person or company who contracts for the services of Arc. The registered address of Arc is Arc Reserves Ltd, Vintners House, 6 Station Court, Great Shelford, Cambridge, CB22 5NE. Company Registration No: 7354016.

Storage

All stock will be securely stored and uniquely identified with the Customers name. Rent will be quoted and charged annually in advance.

Receipt of Goods

Arc will provide the customer with a Wine Receipt. It is the responsibility of the customer to ensure that the details contained within this document are correct as Arc is unable to accept any financial liability for the input of incorrect data. All discrepancies must be reported in writing to Arc Reserves within 3 days.

Arc reserves the right to:

i) Charge part cases at the appropriate full case rate

ii) Split a case containing more than one product and charge accordingly.

Customer Authority

The Customer confirms by assigning wines to their storage account that they hold legal title to the wines in their account or have authority to store or distribute wines on behalf of their owner.

Payment Terms

Arc reserves the right to refuse the release of Customer stock pending receipt of cleared funds to ensure that the customer's outstanding debt remains below the cost value of stock held. All charges are exclusive of VAT which is payable in addition, where appropriate at the applicable VAT rate at the time of charging. Arc reserves the right to exercise its statutory right to claim interest and compensation for debt recovery costs under the late payment legislation if Arc is not paid according to the above payment terms.

Right of Lien

Sufficient stock must be held in Arc's care at all times to cover all outstanding monies. In the event of failure by the customer to pay any amount due to Arc, Arc may, at the due time, without prejudice to its other rights and remedies against the Customer, give notice in writing of its intention to sell or otherwise dispose of the goods. The proceeds of the sale or disposal shall be remitted to the Customer after deduction for all expenses (including a 5% administration charge) and all amounts due to Arc from the Customer.

Customer Release Instructions

Arc can only accept withdrawal instructions from authorised persons to pre-advised delivery addresses which are advised on application for an account. Authority for additional personnel or addresses must be advised in writing. Provision of Information Provided Arc relies upon accurate and timely provision, by the Member or their agents, of information relating to products, receipts, despatches, orders and delivery profiles. Delivery information must include accurate postcodes and telephone numbers.

Deliveries

Arc will always use its reasonable endeavours to adhere to agreed delivery days and specified delivery times. However Arc can accept no liability for missed deliveries and must reserve the right to alter delivery days and times without notice where necessary.

The carrier used for deliveries will be at Arc's discretion. The customer will be notified, as soon as reasonably practical, of any delivery discrepancies. Where Arc has not been at fault redeliveries will be chargeable. Arc will provide a scanned image of the Proof of Delivery (P.O.D.) upon request. P.O.D.s will be stored for a maximum of 12 months. Arc cannot guarantee the retrieval of P.O.D.s after this 12 month period and shall have no liability whatsoever for losses however caused arising from claims relating to such P.O.D.s or the non-return of.

Removal of Entire Stocks

All monies due to Arc by the Customer must be paid and cleared in full prior to the final release of goods with sufficient reclaimable value to cover any amounts owing by the Customer and suspended duty & VAT.

Future Contact

Arc Reserves will not pass your details onto any third parties with the exception of our sister company Albany Vintners, who may on occasions contact you to advise of current market activity on your wines. If you do not wish to receive this contact please inform us by writing.

Claims, Liability & Insurance

In the event of breakage or loss Arc will advise the value to be recompensed. Customers will, where possible, at their option, be offered a like for like replacement.

In no circumstances shall Arc be liable for fraudulent activities of the Customer, their representatives or agents or liable for any loss (whether direct or indirect) of profits, goodwill or business opportunity or for any indirect, special or consequential loss.

Arc shall not be responsible for the any act or omission or delay or non-performance of any of its obligations caused by events beyond Arc's power or control.

Arc agrees to purchase extended insurance coverage for its liability for Customer's goods whilst in its custody or control for ‘All Risks’ of accidental physical loss and or damage. Specifically excluded (inter alia) from this insurance are loss and or damage and or expenses:

i) attributable to wilful misconduct of, or any act of dishonesty committed or connived at by, the customer or any associate thereof;

ii) to mixed cases where contents have not been checked beforehand

iii) cause by depreciation other than as a result of damage forming the subject of a valid claim hereunder;

iv) directly or indirectly caused or contributed to or by arising from: lonising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel, or the radioactive, toxic, explosive or hazardous properties of any explosive nuclear assembly, nuclear component or radioactive material; which is a consequence of war, invasion, act of foreign enemy, hostilities (whether war is declared or not). Civil war, revolution, rebellion, insurrection, military or usurped power, or civil strife arising there from, or any hostile act by or against a belligerent power;

vi) caused by strikers, locked-out workmen, or persons taking part in labour disturbances, riots or civil commotion;

vii) which is due to confiscation, requisition, detention or destruction by or by order of any government, public or local authority;

viii) due to a lack of or a defect in the title of the Customer or any past, present or future owner or purported owner;

ix) directly or indirectly caused by any terrorist, terrorism, or any person acting from a political motive; Arc's liability shall be limited to the replacement value or market value of the goods, whichever shall be the lower. 'All Risks' cover is conditional upon the Customer not breaching Arc's payment terms. In the event of a breach of Arc's payment terms 'All Risks' cover will automatically cease without any notice to the customer.

Effectiveness of Terms & Conditions

These Terms & Conditions take effect from 1st January 2014 and supersede all previous versions that are now null and void. Receipt of stock into an Arc cellar is classed as acceptance of these Terms & Conditions by the Customer, unless otherwise agreed in writing.