TERMS AND CONDITIONS OF SALE & PURCHASE
1. DEFINITIONS
1.1 In these Conditions:
• Buyer: The party purchasing the Goods, as identified in the Purchase Agreement.
• Seller / WIUK: Whisky Investment UK, a trading name of Silvercrest Energy Group Ltd (Company No. 07662019).
• Contract: The Purchase Agreement together with these Conditions and any documents expressly incorporated within it.
• Goods: The whisky cask(s) described in the Purchase Agreement.
• Price: The total price payable for the Goods as set out in the Purchase Agreement.
• Parties: The Buyer and the Seller.
1.2 Headings are for convenience only and do not affect interpretation.
2. FORMATION & VARIATION
2.1 The Contract becomes binding once the Purchase Agreement is accepted by both Parties (verbally or in writing).
2.2 These Conditions may only be varied by written agreement signed by both Parties.
2.3 Any variation to the Goods or Price must be agreed in writing.
2.4 All orders are subject to supplier acceptance and availability. Casks are sold on a first-come, first-served basis.
3. ANTI-MONEY LAUNDERING (AML) & KNOW YOUR CUSTOMER (KYC)
3.1 The Seller is required to comply with all applicable Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
3.2 The Buyer agrees to provide, upon request, all information and documentation reasonably required to verify:
• Identity
• Source of funds
• Address
• Any other information required to satisfy regulatory obligations
3.3 The Seller reserves the right to:
• Carry out identity verification checks;
• Use third-party verification providers;
• Request additional information where necessary.
3.4 The Seller may, at its sole discretion:
• Delay acceptance or processing of any order;
• Suspend or refuse a transaction;
• Cancel the Contract prior to completion,
where AML/KYC requirements are not satisfied or where concerns arise.
3.5 Any delay caused by AML/KYC checks shall not constitute a breach of contract by the Seller.
3.6 The Seller shall not be liable for any losses arising from:
• Delays in verification;
• Refusal to proceed with a transaction due to compliance obligations.
4. GOODS
4.1 The Seller warrants that the Goods shall:
• Conform to the description in the Purchase Agreement; and
• Comply with all applicable laws and regulations.
4.2 Minor variations in cask information may occur due to supplier data; such variations do not affect quality or validity of the purchase.
5. PRICE & PAYMENT
5.1 The Price is as stated in the Purchase Agreement and includes VAT and applicable taxes unless otherwise agreed.
5.2 Payment terms:
• Full payment is due immediately upon invoice unless otherwise agreed in writing.
• Cleared funds must be received before any action is taken.
• If payment is not received within 7 days, the Seller reserves the right to cancel the order and re-list the cask.
5.3 The Seller does not offer credit or finance.
5.4 All payments must:
• Be made in GBP sterling;
• Be free of deductions or set-off;
• Include all bank and transfer charges (payable by the Buyer).
5.5 International payments:
• All transaction costs (bank fees, FX charges, intermediary fees) are borne by the Buyer.
• The Seller may deduct such costs from outgoing payments.
• The Seller is not liable for delays, exchange fluctuations, or incorrect payment details.
5.6 A valid invoice must:
• Be correctly addressed and referenced;
• Reflect the correct amount;
• Relate to Goods supplied under the Contract.
6. OWNERSHIP & TITLE
6.1 Title to the Goods passes to the Buyer once the Seller has completed purchase from the supplier.
6.2 All sales are final. No returns or refunds are permitted.
7. STORAGE, RISK & INSURANCE
7.1 All casks must remain in HMRC-approved bonded warehouses and cannot be removed except in accordance with applicable laws.
7.2 The Seller may act as the Buyer’s agent in arranging storage.
7.3 Storage may be transferred between bonded warehouses for operational reasons.
7.4 The Seller maintains insurance covering certain risks (e.g. loss or damage).
• Liability is strictly limited to risks covered under that insurance.
• The Buyer must satisfy themselves as to coverage and exclusions.
7.5 The Seller’s liability is limited to the reasonably assessed loss and, in all cases, capped at the trading value of the Goods.
7.6 The Seller is not liable for:
• Market fluctuations;
• Loss of value;
• Natural evaporation (“angel’s share”);
• Changes in ABV or volume.
7.7 The Buyer bears responsibility for ongoing costs, including:
• Storage
• Insurance
• Regauging
• Sampling and associated services
8. INVESTMENT RISK & DISCLAIMERS
8.1 Whisky cask ownership is:
• A long-term, illiquid investment;
• Subject to market fluctuations;
• Not guaranteed to increase in value.
8.2 The Buyer acknowledges:
• Capital is at risk;
• Past performance is not indicative of future results;
• There is no regulated whisky index.
8.3 Whisky investment is unregulated and:
• Not covered by the Financial Conduct Authority (FCA);
• Not protected by the Financial Ombudsman Service or FSCS.
8.4 The Seller does not provide financial, legal, or tax advice. The Buyer should seek independent professional advice.
8.5 The Buyer confirms they:
• Have conducted their own due diligence;
• Understand the risks involved.
8.6 The Buyer must be at least 18 years old.
9. CASK MANAGEMENT & REGAUGING
9.1 Regauging requirements:
• Every 3 years (casks over 5 years old)
• Annually (casks over 15 years old)
9.2 Regauge determines:
• Volume (bulk litres)
• Alcohol strength (ABV)
• Regauged litres of alcohol (RLA)
9.3 Typical cost: £55–£75 (warehouse dependent).
9.4 Revaluation:
• £75 per cask
• Requires an up-to-date regauge
10. RESALE & EXIT
10.1 No buy-back or guaranteed returns are offered.
10.2 Casks are intended to be held for a minimum of 5 years.
10.3 Early sale:
• Management fees remain payable in full.
10.4 Optional resale services (at Seller’s discretion):
• Private client mailers
• Auction listings (release date to be confirmed)
Fees:
• £500 flat fee OR
• 10% commission (lower-value casks)
10.5 Conditions:
• Regauge required prior to sale
• No guarantee of sale or timeframe
• All outstanding costs must be settled before sale
10.6 Bottling:
• Duty and VAT payable before removal from bonded warehouse
11. TRANSFERS
11.1 Casks must remain in their original bonded warehouse unless otherwise agreed.
11.2 Transfers are:
• At the Seller’s discretion;
• Subject to operational and regulatory constraints.
11.3 All transfer costs are payable by the Buyer in advance.
11.4 The Seller is not liable for delays in transfers.
12. LIMITATION OF LIABILITY
12.1 The Seller’s total liability is limited to the trading value of the Goods.
12.2 The Seller shall not be liable for:
• Loss of profits, business, or opportunity
• Loss of data or goodwill
• Indirect or consequential losses
13. THIRD PARTY RIGHTS
13.1 No third party has rights under this Contract.
14. SEVERABILITY
14.1 If any provision is unenforceable, the remainder shall remain in effect.
15. ENTIRE AGREEMENT
15.1 This Contract constitutes the entire agreement between the Parties.
15.2 The Buyer confirms they have not relied on any representation not expressly included.
16. LAW & JURISDICTION
16.1 This Contract is governed by English law.
16.2 The Parties submit to the exclusive jurisdiction of the English courts.
17. GENERAL DISCLOSURES
17.1 All marketing materials are for informational purposes only and do not constitute advice.
17.2 Any press references may include paid advertorial content.
17.3 The Seller may request information to comply with HMRC requirements.
A FINAL NOTE
We aim to make whisky cask ownership as straightforward and transparent as possible.
If you ever have questions, whether it is about your cask, the market, or next steps, just reach out – we are always happy to help.