It is important that fine wine investors are aware of the risks as much as the rewards of fine wine investing.
While the economics of production and consumption mechanisms mean that it is difficult to compare wine to any other asset, it has historically shown low-correlation with traditional equities and bonds, diversification and an opportunity for outperformance versus traditional equity benchmarks in the long term. To achieve these potential benefits, we recommend a minimum investment period of 3-5 years, with 5 being an ideal minimum. Please do note that past performance is not necessarily indicative of future results.
Fine wine investing is a medium- to long-term proposition. Although your investment is liquid, it can take 6-8 weeks or longer to sell your positions at a reasonable price without market impact, and therefore it should only ever be considered as a portion of any diversified portfolio. Returns, tax treatment, term, risk tolerance all need to be considered and balanced by each client. You should be aware that any importation into Canada is to be done by you personally and in full compliance with all rules and regulations and will be subject to applicable transport, provincial taxes, VAT taxes and duties. Cult Wines Canada Limited ("CWC") does not provide any such services and if CWC provides you with contact information regarding third party, including governmental, services that assist with importation it is solely for the purpose of assisting you in being able to gather your own information.
CWC and its affiliates are not allowed to offer any regulated financial or tax advice, and we strongly recommend that all customers seek and take independent and qualified advice. CWC is not regulated by the Canadian Securities Administrators and therefore accounts do not qualify for protection under the Canadian Investor Protection Fund. You do however, own your wine and it is held in segregated accounts administered by independent third parties, so in the event of any unforeseen issues, you will always hold title to your wine.
You need to be 18 or 19 to access our services, depending upon your province of residence. Not available to Quebec residents
CULT WINES CANADA LIMITED
- Access to the Site
- What you are allowed to do
- What you are not allowed to do
- Intellectual property rights
- Your personal information
- External links
- Contacting us
These are the terms and conditions of use for www.wineinvestment.com ("Site"). The Site is operated by or on behalf of Cult Wines Canada Limited, a company incorporated in Ontario, Canada and with its head office at 110 Cumberland Street, Suite 333, Toronto, Ontario (we might refer to ourselves as "Cult Wines", "we", "our" or "us").
Your use of the Site will be subject to these terms and conditions and by using the Site you agree to be bound by them. Any products (or associated services) you order through the Site are supplied subject to our Terms of Supply. To the extent of any conflict between the terms set out herein and the Terms of Supply, the Terms of Supply shall prevail.
We reserve the right to change these terms and conditions from time to time by changing them on the Site. These terms and conditions were last updated on 9 April 2021.
Access to the Site
The Site is intended for use only by persons who are at least 18 years of age. By using the Site, you confirm to us that you meet this requirement and that, if you are under the age of 18, you have received permission from your parent or guardian before using the Site.
It is your responsibility to ensure your equipment (computer, laptop, netbook, tablet or other mobile device) meets all the necessary technical specifications to enable you to access and use the Site and is compatible with the Site.
We may, from time to time, restrict access to certain features, parts or content of the Site, or the entire Site, to users who have registered with us. You must ensure that any registration details you provide are accurate. If you choose, or you are provided with, a log-on ID (such as a username and password or other identifier) as part of our security procedures, you must treat such information as confidential and must not reveal it to anyone else. You are responsible for all activities that occur under your log-on ID and must notify us immediately of any unauthorised use or other security breach of which you become aware. We reserve the right to disable any log-on ID, at any time, if in our opinion you have failed to comply with any of the provisions of these terms and conditions or if any details you provide for the purposes of registering as a user prove to be false.
We cannot guarantee the continuous, uninterrupted or error-free operability of the Site. There may be times when certain features, parts or content of the Site, or the entire Site, become unavailable (whether on a scheduled or unscheduled basis) or are modified, suspended or withdrawn by us, in our sole discretion, without notice to you. You agree that we will not be liable to you or any third party for any unavailability, modification, suspension or withdrawal of the Site, or any features, parts or content of the Site.
What you are allowed to do
You may only use the Site only in accordance with these terms and conditions. You may retrieve and display content from the Site on a computer screen, print and copy individual pages and, subject to the next section, store such pages in electronic form. Additional terms may also apply to certain features, parts or content of the Site and, where they apply, will be displayed on-screen or accessible via a link.
What you are not allowed to do
Except to the extent expressly set out in these terms and conditions, you are not allowed to:
- 'scrape' content or store content of the Site on a server or other storage device connected to a network or create an electronic database by systematically downloading and storing all of the content of the Site;
- remove or change any content of the Site or attempt to circumvent security or interfere with the proper working of the Site or the servers on which it is hosted; or
- create links to the Site from any other website, without our prior written consent, although you may link from a website that is operated by you provided the link is not misleading or deceptive and fairly indicates its destination, you do not imply that we endorse you, your website, or any products or services you offer, you link to (and do not frame or replicate) the home page of the Site, and the linked website does not contain any content that is unlawful, threatening, abusive, defamatory, pornographic, obscene, vulgar, indecent, offensive or which infringes on the intellectual property rights or other rights of any third party.
You must only use the Site and anything available from the Site for lawful purposes (complying with all applicable laws and regulations), in a responsible manner, and not in a way that might damage our name or reputation or that of any of our affiliates.
All rights granted to you under these terms and conditions will terminate immediately in the event that you are in breach of any of them.
Intellectual property rights
All intellectual property rights in any content of the Site (including text, graphics, software, photographs and other images, videos, sound, trade marks and logos) are owned by us or our licensors. Except as expressly set out here, nothing in these terms and conditions gives you any rights in respect of any intellectual property owned by us or our licensors and you acknowledge that you do not acquire any ownership rights by downloading content from the Site. In the event you print off, copy or store pages from the Site (only as permitted by these terms and conditions), you must ensure that any copyright, trade mark or other intellectual property right notices contained in the original content are reproduced.
We may change the format and content of the Site from time to time. You agree that your use of the Site is on an 'as is' and 'as available' basis and at your sole risk.
Whilst we try to make sure that all information contained on the Site (other than any user-generated content) is correct, it is not intended to amount to authority or advice on which reliance should be placed. You should check with us or the relevant information source before acting on any such information.
Except to the extent provided in our Terms of Supply, we make or give no representation or warranty as to the accuracy, completeness, currency, correctness, reliability, integrity, quality, fitness for purpose or originality of any content of the Site and, to the fullest extent permitted by law, all implied warranties, conditions or other terms of any kind are hereby excluded and we accept no liability for any loss or damage of any kind incurred as a result of you or anyone else using the Site or relying on any of its content.
We cannot and do not guarantee that any content of the Site will be free from viruses and/or other code that may have contaminating or destructive elements. It is your responsibility to implement appropriate IT security safeguards (including anti-virus and other security checks) to satisfy your particular requirements as to the safety and reliability of content.
Your personal information
Use of your personal information submitted to or via the Site is governed by our Privacy and Cookies Policy.
The Site may, from time to time, include links to external sites, which may include links to third party offers and promotions. We include these to provide you with access to information, products or services that you may find useful or interesting. We are not responsible for the content of these sites or for anything provided by them and do not guarantee that they will be continuously available. The fact that we include links to such external sites does not imply any endorsement of or association with their operators or promoters.
Nothing in these terms and conditions shall limit or exclude our liability to you for any liability that, by law, may not be limited or excluded.
Subject to this, if you are a consumer and not a business user, in no event shall we be liable to you for any business losses, and if you are a business user, in no event shall we be liable to you for any indirect or consequential losses, or for any loss of profit, revenue, contracts, data, goodwill or other similar losses, and any liability we do have for losses you suffer is strictly limited to losses that were reasonably foreseeable.
These terms and conditions shall be governed by the laws of Ontario and the laws of Canada applicable in Ontario.
You agree that any dispute between you and us regarding these terms and conditions or the Site shall only be dealt with ony by an Ontario court and you hereby consent and submit to the exclusive jurisdiction of such court.
Please submit any questions you have about these terms of supply or any problems concerning the Site by email to [email protected], by telephone on 1.855.808.2858 between the hours of 9am to 5pm, Monday to Friday.
Terms of Supply
Terms and conditions of service and/or investment are supplied as part of the client registration process.
A copy of these terms and conditions can also be requested by contacting a member of our team using the Contact Page.
Retail & Sales Terms
- These terms and conditions (“terms”) apply to all wine and spirit sales by Cult Wines Ltd (“we” or “us”) to you the customer (“you”) and are applicable to all sales contracts (“order”) confirmed via, but not limited to; email, telephone, instant message or via our customer portal.
- We consider any confirmation of any order acceptance of these terms and conditions.
- These terms specifically apply to all orders relating in part or wholly to consumption of wine and/or spirits, for both private and trade customers. For managed portfolio terms, please refer to our “Investment Management Agreement”.
- We reserve the right to amend these terms and conditions at any time and any such amendments will take effect once published via our website. It is your responsibility to read and understand these terms and conditions on each occasion ahead of confirming any order.
- All orders are subject to the relevant law of Canada. All purchasers must be 18 years or over. International customers must additionally be of the prescribed age for purchasing alcohol in the relevant jurisdiction where goods are received.
- An order is placed at the point we issue an invoice for a purchase confirmed by a customer by means outlined in section 1.1. Any confirmation is considered acceptance of these terms.
- All orders will include the applicable taxes to the relevant jurisdiction(s) for that sale, at the prevailing rate.
- There is a minimum order value of $850CAD (excluding any applicable taxes), or any complete case (>4.5l).
- Up to the point of delivery, we reserve the right to cancel any order where;
- Wines and/or spirits ordered are found to be in condition not in keeping with the agreed or assumed condition at the time of order.
- We deem the stock to be of any risk to our reputation or that of the producer.
- The payment will be due upon receipt of invoice, unless otherwise formally agreed. Trade accounts are payable prior to transfer/delivery/export of goods unless otherwise formally agreed.
- We reserve the right to charge a cancellation fee (up to 50% of invoice value or actual losses incurred by us).
- We reserve the right to use any funds held on account to cover, in part or in full, any overdue invoices.
- We reserve the right to withhold any wines and/or spirits stored on your behalf in our warehouse(s), including long-term private reserves, for non-payment of any invoice. This applies to invoices for goods and/or services.
- As a private customer, you have a right to cancel your order under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 (“Consumer Regulations”).
- Your order can be cancelled within 14 days from receipt of goods, by informing your Portfolio Manager, who will provide further information on completing the cancellation.
- Cancellation will only be applicable to unopened goods. At our discretion we may offer a reimbursement factoring in any perceived loss of value due to any handling by you.
- You will be responsible for all costs associated with returning wines and/or spirits.
- “Delivery” (including, but not limited to; deliveries to an address, releases for collection, transfers between warehouses and exports) will be charged at cost. Free deliveries and/or agreed order thresholds for free deliveries may be offered at our discretion.
- Our obligations to deliver wines begin only once full settlement is made for wines and/or spirits specified on the invoice. These obligations do not preclude cancellations as outlined in section 2.3.
- Any provided delivery dates are estimates only and we/our transport providers do not guarantee to meet any delivery date unless otherwise specifically agreed.
- We reserve the right to charge storage at $17.50CAD (excluding taxes) per annum for any order where delivery instruction has not been received from you, within 14 days following receipt of payment unless otherwise agreed.
Provenance, Quality Control & Caveat Emptor
- We make best endeavours to ensure that all wines and/or spirits offered by us are of the best possible provenance and have benefitted from optimal storage prior to our acquisition. As such, we purchase only from suppliers who have undergone and passed our internal due diligence process and refrain from the purchase of stock with ‘strip’-labels identifying previous export to The Americas and/or Asia, unless exceptionally specified in our offering or offered via our offices in such geographical regions.
- With regards to older, particularly rare or particularly high-value wines and/or spirits, we make reasonable endeavours to verify provenance of such products but we are unable to guarantee authenticity. Despite improving technology and methods, inspecting wines and/or spirits for authenticity often remains subjective and therefore impossible to establish definitively. Any information we are able to provide pertaining to the provenance of specific wines cannot be guaranteed or warranted by us in any way.
- It is understood that wines may suffer from cork taint (TCA), premature oxidation, fatigue and/or other ‘faults’. While best effort is made to identify such faults by us, many remain undetectable until opening of the bottle and we cannot be held under any obligation to replace affected bottles or offer compensation where such faults are found to exist after delivery.
- At our discretion, we may contact a producer to the return of bottle(s) suspected of containing certain faults.
- We endeavour to deliver all bottles in the condition in which they are offered and use only recommended specialists for the transportation of wines and/or spirits (where possible). Insurance is compulsory for deliveries to customers and will cover customers for damage or loss caused by the transporter or arising during transport. There is no coverage for conditions during transport and while secure packaging will be chosen and optimum temperature and other weather-related conditions will be identified ahead of dispatch, we cannot guarantee the quality of the contents within the bottle.
- We recommend all wine and/or spirits be allowed time to rest after transport, that time recommended increasing with the age of the product. We are able to provide additional advice and information on the opening of older bottles upon request.
- We will not be liable for any failure to meet any agreed or perceived obligations as a result of circumstances beyond our reasonable control.
- Any liability in connection with the sale of wines and/or spirits will be limited only to the agreed order price paid by you, as invoiced by ourselves.
Disclaimer & Copyright
Past performance is not necessarily indicative of future performance and any references to speciﬁc stocks must be assessed by the potential investor. Investment advice is based on information taken from trade services and in-house statistics, and other sources, which Cult Wines Ltd believes to be reliable. Trading advice reﬂects our judgment at a speciﬁc time and there is no guarantee of results. All material contained within this document is intellectual property of Cult Wines Ltd and should not be reproduced or copied under any circumstances without consent.
All copyright, trade marks, design rights, patents and other intellectual property rights (registered and unregistered) in and on the Cult Wines website and Cult Wines Content (Including but not limited to guides, reports, articles and emails) belong to Cult Wines. Cult Wines reserves all of its rights in Cult Wines Content and Cult Wines Services. Nothing in the Terms grants you a right or license to use any trade mark, design right or copyright owned or controlled by Cult Wines. Any use of any Cult Wines property would require written permission from or on behalf of Cult Wines. Any unlawful use of Cult Wines property may result in legal action.