Portfolio Service Terms & Conditions

Members joining the Bin Club are deemed to have accepted Lay & Wheeler's standard and cellarage terms and conditions. Additionally the following Portfolio terms and conditions apply:

1. Portfolio Service
Lay & Wheeler’s Customer Reserves provision will be available only to subscribers to the Portfolio Service. The fee for the Service will be charged on an annual basis in advance accordance with a published rate structure.

2. Cellarage charges
Wines cellared under the Portfolio Service are subject to annual storage charges. The invoices are raised quarterly for wines physically in reserve. The cellarage charge includes insurance at replacement value.

3. Market Prices
Lay & Wheeler undertakes to provide market information based on a quarterly review of prices for currently traded wines, provided by an independent European wine trading organisation
Information supplied reflects the anticipated traded price, before commission.

4. Advice on purchase and resale
Lay & Wheeler uses its best endeavours to recommend actions based on its understanding of individual customers’ requirements and objectives. Lay & Wheeler is not recognised as a financial advisor within the meaning of the Financial Services Act, and no undertakings with regard to investment performance of any wine may be given or implied by any employee of the Company. Furthermore, Lay & Wheeler cannot be held liable for unforeseen changes in value of wines traded on the open market.

5.Non-payment
In the event of non-payment of invoices, the company reserves the right to sell part of or all of the customer's paid reserve and to deduct from the proceeds the outstanding charges.

6. Portfolio Service Charge
A compulsory Portfolio Service Charge of £35 (inclusive of VAT) will be charged to Members on an annual basis as part of our expert consultation service. Lay & Wheeler reserves the right to increase this fee on an annual basis. The Portfolio Service Charge will be payable on 31st March of each calendar year.

E&OE.