1. DEFINITIONS

In these Terms:

“Bid” – means an offer to buy a wine from BiBO;

“Contract for Purchase” – means a binding agreement for the purchase of Goods by BiBO;

“Contract for Sale” – means a binding agreement for the supply and/or storage of Goods from BiBO;

“Customer” – means any Private Customer or Trade Customer as the case may be;

“Goods” – means the products to be supplied by BiBO to the Customer;

“Offer” – means an order expressing a firm interest to sell a wine to BiBO;

“Private Customer” – means a Customer who is not a Trade Customer;

“Purchase” – means a purchase of Goods;

“Reserves” – means goods stored by or on behalf of BiBO in accordance with clause 9.5;

“Trade Completion” – means the event of a Bid or Offer being accepted by BiBO and a transaction occurring

“Trade Customer” – means a Customer who purchases Goods with a view to resale in the ordinary course of its business and/or who BiBO notifies is classified as such;

“Us” – means BiBO;

“Website” – means the website owned and operated by BiBO at www.bibo.io ; and

“You” – means a Customer of BiBO i.e. an individual or company buying wines or spirits from, or selling wines or spirits to BiBO.

2. PLACING AN ORDER

2.1. By placing an order you agree that you are capable of entering into a legally binding contract and you must be at least 18 years old or you must have reached the requisite age in your home territory for the purchase of alcohol. All contracts are subject to English law and jurisdiction. All Goods are offered subject to market movement and remaining unsold.

2.2. A contract for sale which incorporates these Terms and Conditions (“Terms”) in full will come into existence when we expressly accept your order. Please note that an acknowledgement of your order by us by telephone, email or Website confirmation does not constitute acceptance of your order. Your order will be accepted when we take payment from you or issue an invoice for the order.

2.3. We have a minimum order of £50 (per order, ex VAT and duty) or a full unmixed case of 6 bottles.

2.4. We are free to accept or decline the whole or part of any order at our absolute discretion. Where we decline part of an order we will confirm this to you and afford you the opportunity to continue with the part of the order we have accepted.

2.5. The availability of the Goods will be checked after we have received your order. If for any reason at any point before delivery of the Goods to you, we are unable to fulfil your order (or any part thereof) we will advise you of this and if we have already debited your payment card, the appropriate amount will be credited to the card or account used to place your order.

2.6. For customers who have purchased wine ‘en primeur’ please note that in the unlikely event of the Chateau deciding not to bottle your selected format BiBO reserves the right to allocate the most appropriate bottle size instead

2.7. At the point these Terms become binding (as provided for in Clause 2.2) you have entered into a contract with us for the supply and/or storage of the Goods (“Contract”). These Terms apply to the Contract to the exclusion of any other terms that you seek to impose or incorporate or which are implied by trade, custom, practice or course of dealing. We shall not be bound by any clerical or arithmetical errors in documents issued by us in relation to your order. No price or other information contained on our Website shall constitute an offer to contract.

3. QUALITY CONTROL

BiBO makes every effort to ensure that all Goods we sell are of impeccable quality and in a condition appropriate for the age of the wine or spirit, including thorough provenance checks, physical inspections and appropriate storage conditions. We do not purchase US strip-labelled stock or stock that has been shipped back into Europe from the Americas or Asia unless otherwise specified or specifically requested. As a result, condition issues rarely occur. In the event that wines are corked or out of condition for consumption, BiBO will be under no obligation to offer replacements or offer other compensation of any kind and such replacements or compensation will be made entirely at our discretion. We cannot guarantee that wines will always show at their best. Regardless of reputation, all wines can age and mature in different ways and we will not bear any liability for subjective judgments such as quality or drinkability. All older bottles are therefore sold as seen and we cannot accept returns for any wines should they be corked, tainted or fatigued in any way. As such the wine we sell to you will be of condition to be expected in view of its age and provenance and we will not be responsible for minor defects or imperfections or any condition resulting from nature or age of the wine. We cannot warrant any provenance or information given to us by third party suppliers. This does not affect your statutory rights. We would also highly recommend that the older the wine the longer the time that should be allowed for preparation before serving. Wines benefit from rest as well as being stood upright for a number of days before opening and drinking.

4. PAYMENT

4.1. Payment will be due at the time of placing an order or, as per agreed terms. Please note Wine may not be delivered until payment is received in full.

4.2. All prices are set in pounds sterling and may be varied without prior notice. Prices in various currencies may be viewed on our Website and are converted from the sterling prices using appropriate exchange rates. The exchange rates fluctuate with market foreign exchange rates so that prices in quoted foreign currencies will vary even if the underlying sterling prices have not changed. Any applicable VAT, duty and delivery charges will be added at the time of order or, in the case of Customer Reserves held in bond, when the relevant Reserves are delivered or collected.

4.3. BiBO accepts a range of payment methods and/or card issuers including Alipay, WeChat pay and US registered Amex cards. A surcharge is applied to non EEA cards (European Economic Area) and mobile payment methods.

4.4. To ensure that your credit, debit or charge card is not being used without your consent the name, address and other personal information supplied by you during the order process may be validated against appropriate third party databases. By accepting these terms and conditions you consent to these and similar checks being made. All information provided by you will be treated securely and strictly in accordance with the Data Protection Act 2018 and any other relevant data protection law.

4.5. All information revealed through such checks shall be used by us in accordance with our privacy policy although we may refer any information which appears to be fraudulent or unlawful to relevant third parties such as police or other enforcement authorities, banks or credit card companies as may be appropriate.

4.6. The description and prices payable for the Goods you order are set out in our emails and other communications with you. If, by mistake we have under priced an item or service we will not be liable to provide that item to you at the stated price provided that we notify you before we despatch the item concerned or, if we are not despatching an item, within 7 working days of our acceptance of your order and we may cancel your order provided we refund you any payments you have made. You may agree to pay the correct price in which case we will proceed with your order. In the event that you have been overcharged for an item, a full refund of the difference will be given.

4.7. We may change these Terms from time to time and you should check these regularly as the Terms which are in place when we issue an order acknowledgement, proforma invoice or invoice (whichever is earliest) will be binding upon you. None of our employees or agents has the right to bind us to any verbal agreement which does not comply with the Terms. In the event you place an Order and we amend the Terms within 14 days of the Order being placed, the Terms applicable to your Order will be those in force at the time the Order is placed, unless the change to the Terms was required by law or government or regulatory authority ( in which case, any such change will apply to an Order you have previously placed that we have not yet fulfilled).

4.8. In the event of non-payment of account within the specified terms for payment, we reserve the right to charge interest on any sums owing to us at the rate of 8% above the Bank of England base rate from time to time from the date payment is due to the date of payment.

4.9. In the event that any amount is owing from you to us (whether that amount arises under our terms of sale, our storage terms, or as a result of interest charges or otherwise) then you agree that we will have the right to purchase any of your Goods which are held by us at a price governed by these Terms in satisfaction of your liabilities. Upon that purchase, we will hold title to the relevant Goods and we will then be free to sell or otherwise deal with those Goods at our discretion and we will not be required to account to you for any further sums received by us for those Goods.

4.10. In order to exercise our right to purchase Goods we hold for you to satisfy your liabilities to us we will send written notice to your last known invoice address of our intention to purchase the Goods. Fifteen days after sending such notice we will be entitled to take ownership and possession and (at our discretion) dispose of some or all of your Goods which are held by us. Upon purchasing the Goods, we will credit you with the purchase price of the relevant Goods (the “credit amount”). The purchase price will be 80% of market value for other Goods. Market value will be assessed based on our list prices or by making reasonable enquiries and will be assessed on the date which falls 15 days after the notice referred to in clause 4.10 is sent by us. We will set the credit amount off against any sums you owe to us. If the credit amount exceeds the sums you owe to us we will account to you upon request for any excess but we will not be obliged to pay interest on such excess. If any balance remains outstanding owing to us after we have purchased the Goods and credited the credit amount to you then the balance (including interest at the rate specified in clause 4.8) shall remain payable by you.

4.11. Our right to purchase Goods we hold for you to satisfy your liabilities does not affect any other remedies we may have. You agree that given that the credit amount represents the typical price we would pay for the relevant Goods, and given the existence of fluctuating demand and prices for the Goods the above terms are reasonable.

4.12. We reserve the right to charge a cancellation fee of up to 20% of the outstanding amount, or actual losses incurred by BiBO as a result of cancellation if greater than 20%.

4.13. We may (a) utilise any monies held on account or otherwise received from or on behalf of the Customer to discharge any such cancellation fees; (b) cancel any discounts given in respect of any invoiced sums and/or cancel any further deliveries to you; and (c) withdraw any credit facilities which have been offered to you.

5. TITLE

5.1. In the case of Private Customers, title to all Goods shall remain with BiBO until all sums due from the Private Customer are paid in full.

5.2. In the case of Goods purchased ‘en primeur’, those Goods may be stored in bulk in the region of their production. Until the Goods are bottled and transferred to BiBO’s bonded warehouse, they cannot be segregated and the Customer may have a contractual rather than a proprietary interest in them. Risk of loss or damage to Goods shall pass to the Customer when the Goods are physically delivered to or collected by either the Customer or an agent acting on behalf of the Customer.

Retention of Title – Trade Customers

5.3. In the case of Trade Customers where delivery is made in advance of payment: (a) Goods purchased and held ‘in bond’ as Reserves shall remain the property of BiBO until BiBO has received payment in full (in cash or cleared funds) for those Goods (excluding VAT, duty and delivery charges); and (b) Goods purchased and held ‘duty paid’ as Reserves, or not held as Reserves, shall remain the property of BiBO until BiBO has received payment in full (in cash or cleared funds) for those Goods (including any applicable VAT, duty and delivery charges).

5.4. Until such time as BiBO has received payment in full (in cash or cleared funds) for all Goods that BiBO has from time to time supplied to a Trade Customer (including any applicable VAT, duty and delivery charges), all such Goods supplied to that Trade Customer shall remain the property of BiBO.

5.5. Until ownership of Goods has passed to a Trade Customer, the Trade Customer shall (unless the Goods are held as Reserves or have been resold in accordance with paragraph 4.10): ((a) store the Goods separately from other goods of the Trade Customer and/or keep them in such a way (at no cost to BiBO) that they can be readily identified as being the property of BiBO ; (b) hold the Goods on a fiduciary basis as BiBO bailee; (c) not destroy, deface or obscure any identifying mark on or relating to the Goods; and (d) maintain the Goods in satisfactory condition and keep them insured on behalf of BiBO for their full replacement value against all risks.

5.6. Until ownership of Goods has passed to a Trade Customer, BiBO grants the Trade Customer the right to resell the Goods in the ordinary course of business at full market value on the basis that the Trade Customer has no authority to enter into any contract of sale on BiBO behalf, but does so as principal, and provided that the Trade Customer shall hold in trust and pay to BiBO on demand the proceeds of any such sale to the extent that any sums are owed by the Trade Customer to BiBO.

5.7. Without prejudice to any other remedy that BiBO may have, BiBO may, at any time, revoke the Trade Customer’s power of sale under paragraph 5.6 by notice to the Trade Customer if the Trade Customer is in default of payment of any sum whatsoever due to BiBO , or if any cheque (or other negotiable instrument) drawn by the Trade Customer in favour of BiBO is dishonoured on presentation for payment, or if BiBO has bona fide doubt as to the solvency of the Trade Customer.

5.8. Trade Customer’s power of sale under paragraph 5.6 shall automatically cease if, in the case of a Trade Customer who is an individual, that Trade Customer has a bankruptcy order made against him/her or makes an arrangement or composition with his/her creditors, or otherwise takes the benefit of any statutory provision in force from time to time for the relief of insolvent debtors, or, in the case of a Trade Customer which is an entity, that Trade Customer is being wound-up or enters into a company voluntary arrangement (within the meaning of Part 1 Insolvency Act 1986) or is placed into administration, administrative receivership, compulsory or voluntary liquidation or a receiver is appointed over all or any of its assets or the Trade Customer enters into any other insolvency proceedings governed by the provisions of the Insolvency Act 1986 and/or the Law of Property Act 1925 (in each case as consolidated, re-enacted, modified or replaced from time to time) or any analogous insolvency proceedings in any other applicable jurisdiction. A Trade Customer shall notify BiBO without delay if any of the events specified in this paragraph occurs.

5.9. Upon the revocation of the Trade Customer’s power of sale under paragraph 5.7 or its automatic cessation under paragraph 5.8, all amounts payable in respect of all Goods supplied shall become due and payable to BiBO immediately whether or not such amounts are then due and payable.

5.10. Each Trade Customer grants BiBO , its agents and employees (with such transport as is necessary) an irrevocable licence at any time to enter any premises of the Trade Customer, or to which the Trade Customer has access, where Goods may be or are believed to be situated for the purpose of inspecting Goods to which BiBO has title or, where the Trade Customer’s power of sale has been revoked or ceased, to recover any Goods to which BiBO has title. BiBO may dispose of the recovered Goods so as to discharge any sums owed by the Trade Customer to BiBO.

5.11. The rights of BiBO set out in this paragraph 5.10 shall remain in full force and effect notwithstanding termination of the relevant contract with the Trade Customer

5.12. BiBO may maintain an action for the purchase price of the Goods notwithstanding that ownership of them has not passed to the Trade Customer.

6. DUTY & VAT

6.1. Goods are offered for sale under bond, unless otherwise stated.

6.2. For Goods purchased and held in bond for UK home use: the customer will be liable to pay duty and VAT based on the rates in force when the Goods are taken out of bond and not those prevailing at the time of purchase.

6.3. Duty paid Goods for export must be exported from the UK within 30 days of invoice if collected by the Customer’s shipper or 90 days of invoice if shipped by BiBO , or else UK VAT will be payable by the Customer.

6.4. Any change in duties, tariffs or other taxes which arise because of changes in laws will be the responsibility of the Customer.

6.5. If Goods are being ordered from outside of the UK, import duties, tariffs and taxes may be incurred once your Goods reach their destination. BiBO is not responsible for these charges and we undertake to make no calculations or estimates in this regard. We recognise that if you are buying internationally the process can be complex and whilst BiBO will be on hand to guide you with advice and support you should take advice from your own professional adviser because we are not qualified to give advice in these areas. As the purchaser of the Goods, you will also be the importer of record and as such should ensure that your purchase is in full compliance with the laws of the country into which the Goods are being imported. Please be aware that Goods may be inspected on arrival at port for customs purposes and BiBO cannot guarantee that the packaging of your Goods will be free of signs of tampering.

7. DELIVERY

7.1. All deliveries, including those overseas, are charged at the prevailing rate plus VAT (where applicable). We reserve the right to charge additional delivery costs in the event of a non-delivery caused by your failure to provide adequate delivery instructions and/or your non-availability to receive the delivery.

7.2. Any indication as to when an order of Goods will be delivered is an estimate only. Such estimates are given in good faith and we will use our reasonable endeavours to meet them. We do not accept liability for any failure to deliver with that time. En primeur wines will not be dispatched until after the date on which such wines become available to us.

7.3. Delivery of the Order will be completed when we deliver the Goods to you, a nominated third party or into Reserves (the ‘bonded’ warehouse operated by our third party partner), as appropriate.

7.4. The quantity of any consignment of Goods as recorded by us on despatch shall be conclusive evidence of the quantity received by you on delivery unless you can provide evidence to the contrary.

7.5. All Trade sales are sold ex-London City Bond (Vinotheque / Eton Park / Tilbury). Onward delivery charges, duty and VAT will be charged as appropriate upon shipment. Export Trade Customers can be put in contact with a suitable freight forwarder.

7.6. Any Goods (Private and Trade) not collected within one month of release date will be stored in our private customer reserves at the prevailing cost per 4.5 litre case (covers all cases up to and including 4.5 litres, or the equivalent of 6 regular bottles) per 1 month period. Any cases above 4.5 litres and up to and including 9 litres (the equivalent of 12 regular bottles) will be charged at the prevailing rate (plus VAT if applicable) for a full case rate per 1 month period.

8. RETURNS & BREAKAGES

8.1. In the unlikely event that the Goods do not conform with your order you must notify us within seven (7) days of delivery or collection or as soon as reasonably practicable. We will replace any Goods or credit your account with the value of the original purchase price if we assess them to be inherently faulty. Please note that we do not warrant taste or drinkability of Goods and in view of the nature of the wines we do not provide refunds for corked wines. Where you have bought several bottles of wines from the same vintage and you consider the wine is faulty upon opening one bottle, it is your responsibility to ensure that you mitigate any loss by keeping the remaining bottles in their packaging until we inform you whether or not we require you to return them to us. We reserve the right to charge you for any additional bottles opened by you. You accept that these wines may be subject to normal wear and tear associated with the nature of these wines.

8.2. Claims for breakages will only be allowed if the Customer notifies BiBO as soon as possible (and, in any event, within 7 days) after delivery. The Customer must retain breakages and accompanying packaging for examination by BiBO or its agent.

8.3. Private Customers have the right to withdraw from a contract entered into with BiBO within 14 days following the day on which an invoice is produced for the Goods without giving any reason. You may cancel either part or a whole order. We will confirm your cancellation in writing to you.

8.4. To exercise the right of withdrawal, a Private Customer must give written notice to BiBO by emailing us at sales@bibo.io or by writing to us at Free Trade House, 9 Chapel Place, London, EC2A 3DQ

If a Private Customer withdraws from a contract, BiBO shall reimburse to the Private Customer all payments received from it, including any costs of standard delivery (but not collection), without undue delay and in any event not later than 14 days from the day on which it has collected the Goods or the Private Customer has supplied evidence of having sent back the Goods, whichever is the earlier. A Private Customer’s right of withdrawal under this paragraph shall not apply to wine purchased ‘en primeur’.

8.5. If you cancel an order for Goods but we have already despatched the Goods to you, we will not be able to cancel your order until it is delivered or collected. In this case, if you return the Goods to us, we will have to charge you the cost of collection or you will have to pay the cost of returning the goods back to us. This will not affect your refund for the goods themselves. We will refund any charges for standard delivery but will not refund any charges paid in addition to our standard delivery charges for non-standard or enhanced delivery.

8.6. We may make a deduction from the reimbursement for loss in value of any Goods supplied, if the loss is the result of inappropriate storage and/or unnecessary handling by you. You are only liable for any diminished value of the wines resulting from the inappropriate storage and/or handling other than what is necessary to establish the nature, characteristics and functioning of the wines.

8.7. We will make the reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise. Refunds will be made to the bank card used for the original purchase after deducting 5% of the invoice to cover our costs, including charges by your card company. This does not affect your statutory rights.

8.8. For Customers who have purchased wine ‘en primeur’ once we have issued an order acknowledgement, pro-forma invoice or invoice for these wines you are unable to cancel your order unless we expressly agree to this at our discretion. Requests to cancel en primeur orders must be received within seven (7) days of the order being placed to be considered.

9. STORAGE

9.1. In order to place Goods in our storage facility you will need to notify us:

i. when agreeing to buy the Goods, where you opt for us to store Goods you have bought from us; or

ii. in any other case in advance of sending the Goods to us for storage in which case we will supply you with a booking-in reference. Should any Goods arrive without a booking-in reference we reserve the right to refuse receipt of the goods into our storage facility.

Prior to sending Goods not purchased from us for storage you must provide copies of the original invoices as evidence of the in bond values. We do not accept for storage mixed cases or loose bottles purchased from third parties without our prior written agreement.

9.2. Unless we have agreed to arrange for collection of the Goods you will be responsible for sending the Goods to us. You will also be responsible for insuring the Goods in transit unless we agree to collect the Goods. We reserve the right to apply a collection charge if we collect Goods on your behalf.

9.3. If Goods purchased from us are not collected or delivered within 30 days of the later of the date of the invoice or of the Goods becoming available for collection or delivery you agree that we will place the Goods into storage and these storage terms will apply. Please note that we will not inspect Goods when sent to us for storage. We will not take any steps to verify that the Goods delivered/stored match the details of those first provided by you nor accept any liability for the authenticity, provenance, quality or condition of any Goods bought from third parties when placing them in our storage facility or while storing the Goods. If you have purchased the Goods from us and we have agreed to store them on your behalf then we will arrange for them to be delivered to and placed in our storage facility.

9.4. BiBO’s records will distinguish the ownership of Reserves from the ownership of BiBO own trading stock. BiBO will require any Customer instructions pertaining to dealing with Reserves to be confirmed in writing before acting on those instructions.

9.5. You agree and acknowledge that our storage facility is owned and operated by a third party in a facility where the temperature and humidity conditions are appropriate for the storage of fine wines.

9.6. Our storage charges will be set out on our Website and may change from time to time. We will invoice you for our storage charges in advance every 1 month or 12 months for the rental periods of 1 January to 31 December each year. Our storage charges will be charged on the basis of a charge for each 4.5 litres (or part thereof) plus VAT (where applicable) per 1 month period. For charging purposes, the volume of any case will be rounded up to the next whole multiple of 4.5 litres. Any Goods placed in storage during the first 11 months of a 12 month charging period will be subject to a charge of a full 12 months for that period; however, any Goods removed from storage at any point during a charging period will be subject to a charge of a full 12 months for that period and accordingly we will not refund any unused portion of a 12 month storage charge for annual storage. From 1st January 2022 our storage charges will be charged on the basis of a charge for each 4.5 litres (or part thereof) plus VAT (where applicable) per month in arrears, billed every 1 month or 12 months in January. For charging purposes, the volume of any case will be rounded up to the next whole multiple of 4.5 litres. Any Goods removed from storage at any point during a charging period will be subject to a charge for the full month

9.7. Your obligation to pay our storage charges for Goods will commence on the date we have agreed to store the Goods. Storage charges will be raised in line with clause 9.6.

9.8. You agree to discharge the cost of any unpaid storage before removing any Goods from storage. If we have not yet invoiced for a period of unpaid storage then we will issue an invoice when you ask to remove the Goods from storage and this invoice will be immediately due for payment.

9.9. Stock transferred to another bonded warehouse will incur a charge of £5 per case. These charges are set out on our Storage Page and may change from time to time.

10. OWNERSHIP & INSURANCE

10.1. You will retain ownership of all of the Goods we hold on your behalf at our storage facility, subject always to our rights under clause 4 Payment.

10.2. We may agree upon request to arrange for the Goods held on your behalf to be insured against damage, loss or theft at the lower of replacement or market value. The costs of insurance are set out in our Storage Page. In view of the difficulty in assessing the total market value and the market value of individual rarities, BiBO can only try to ensure that full compensation is recovered in cases of loss. Please note that the insurance will be provided by a third party and will be subject to various exclusions and limitations. We will supply a copy of these exclusions and limitations to you on request. You agree that our liability with respect to any loss you may incur will be limited to such amount as we may recover under our insurance policy.

10.3. You will be entitled to collect any wines we are holding in storage for you by giving us at least two full business days’ prior notice to be received by us before noon. For high volume or large transfer of client reserve requests we may require more than two business days’ notice. All fees and charges owed to us must be settled in full before you will be permitted to remove wines from storage. Where wines are held in a bonded storage facility (duty unpaid) you will be required to pay duty and VAT on the wines in order to remove them from the facility. You agree to attend the facility and collect the wines on the date agreed. We may agree, as your agent, to arrange for delivery of the wines to you, in which case you will be responsible for all delivery costs.

11. LIABILITY

11.1. Nothing in these Terms and Conditions shall exclude or limit in any way BiBO liability for death or personal injury or for fraudulent misrepresentation or for breach of its obligations under applicable law.

11.2. Our liability in connection with these Terms and Conditions is limited to:

i. in the case of loss or damage to the Goods, the lower of market value and replacement cost but in all cases limited to such amount as we may recover under our insurance policy; and

ii. in any other case an amount not exceeding the total fees and charges paid by you for storage in the previous 24 months.

This does not limit in any way our liability to the extent that it may not be excluded or limited as a matter of law.

11.3. We agree to hold and store the wines only and, for the avoidance of doubt, we will not be liable for the state and condition of the wine including (but not limited to) any change resulting in ullage, maturing, ageing, decomposition or deterioration of the wines or packaging.

11.4. We are not responsible for advising you about maturation dates or ideal drinking windows for the wines (which are, in any event, subjective).

11.5. We are not liable for any indirect or consequential loss or damage or for any loss of data, profit, anticipated savings, reputation, bargain, opportunity, revenue or business however caused, even if foreseeable.

11.6. We will not be liable for any failure to perform our duties under or in connection with this agreement for any reasons which are beyond our reasonable control (“Force Majeure event”) nor any loss and/or damage arising from any such Force Majeure event save to the extent that such loss and/or damage is recoverable under our insurance policy. A Force Majeure event may include any failure on the part of our designated warehouse operator or facility which is outside of our control, as well as strikes, lockouts or other industrial action; civil commotion, riot, invasion, war, threat or preparation for war; fire, explosion, storm, flood, earthquake, subsidence, epidemic, pandemic or other natural physical disaster.

11.7. In the unlikely event of a dispute between you and us about Goods you have stored in Reserves, we shall rely on the invoices issued to you in respect of any Goods in Reserves purchased from us prior to their transfer to Reserves. For all other goods in Reserves we rely on the information which has been provided to us at the time those goods were stored in Reserves, which shall be final and conclusive.

11.8. If you sell any of your Reserves to a third party you must notify us immediately by post (to the address set out in clause 8.4 marked for the attention of Customer Services) or by email (to reserves@bibo.io) of the identity of the third party and confirm whether they wish to continue storing in our Reserves. If the third party wishes to continue storing in Reserves you must:

i. ensure we receive written confirmation from that third party of their intention to continue storing in Reserves and their agreement to these Terms; and

ii. confirm the date from which they will be liable for the Storage Charges (as defined in clause 9.6) “The Transfer Date”. If the Third party does not wish to continue storing in Reserves you must give us notice of your intention to withdraw from Reserves in accordance with clause 10.3 and the address of the third party to which the stored wines should be delivered. You will be liable to pay the storage charges (as defined in clause 9.6) until the earlier of the date upon which we receive written confirmation from the third party and are notified of the Transfer Date or the date the stored wines are withdrawn from Reserves.

11.9. Unless we have agreed to arrange for collection of the Goods you will be responsible for sending the Goods to us. You will also be responsible for insuring the Goods in transit unless we agree to collect the Goods. We reserve the right to apply a collection charge if we collect Goods on your behalf.

12. WEBSITE SALES

A Purchase may be made via our Website. Use of (including Purchases via) our Website is subject to our Website Terms and Conditions, which can be found on the Website.

13. CONTRACT FOR PURCHASE

13.1. By listing goods for sale you agree that you are capable of entering into a legally binding contract and you must be at least 18 years old or you must have reached the requisite age in your home territory for the purchase of alcohol. All contracts are subject to English law and jurisdiction.

13.2. A Contract For Purchase which incorporates these Terms in full will come into existence when we expressly accept your offer. Please note that an acknowledgement of your offer to us by telephone, email or web generated communication does not constitute acceptance of your offer. Your offer will be accepted when we make payment to you or issue a Purchase order for the offer.

13.3. Upon Trade Completion BiBO will send you a confirmation email and Purchase order. The transaction will also appear in your online account. If you believe a trade has completed but have not received an email confirmation and/or the transaction does not appear in your online account, you should contact us immediately.

13.4. Payment of the purchase price to you shall be by either crediting your account with BiBO or by BACS payment to your bank account; the details of which we hold on file for you. If you would like the proceeds paid into a new account you will be asked to provide written confirmation in line with our due diligence obligations.

13.5. BiBO reserves the right to cancel a Contract for Purchase if the stock supplied by you does not satisfy our condition criteria or if stock is not supplied within the required timeframe.

13.6. BiBO may charge you a cancellation fee of up to the greater of 20% of the trade value or actual losses incurred by BiBO as a result of the cancellation. Losses may include the cost of sourcing suitable replacement stocks and any excess in the price paid for replacements. Costs associated with returning stocks to you following a cancellation will be borne by you.

14. GENERAL

14.1. We reserve the right to alter these terms and conditions at any time. Any such changes will take effect when posted on our Website. It is your responsibility to read the terms and conditions on each occasion the Website is used or products ordered. Your use of the Website or your agreement to place or retain wines in storage with us shall signify your acceptance to be bound by these latest terms and conditions.

14.2. If any provision of these Terms is held by a court or other competent authority to be invalid or unenforceable in whole or in part the validity of the other provisions of these Terms and the remainder of the provision in question shall not be affected.

14.3. No provision of these Terms shall be enforceable pursuant to the Contracts (Rights of Third Parties) Act 1999

14.4. No delay in exercising or non-exercise by BiBO of any right, power or remedy under or in connection with these Terms shall impair that right, power or remedy or operate as a waiver or release of it.

14.5. These Terms shall be governed by the laws of England and Wales and you agree that the courts of England and Wales shall have exclusive jurisdiction in relation to the subject matter thereof and any disputes relating to the same.