EN PRIMEUR TERMS AND CONDITIONS

 

What Is En Primeur?

En Primeur, also known as wine futures, is a process of buying wines before they are bottled and released onto the market. Wines are purchased exclusive of duty and VAT and are then usually shipped approximately 2 years after the vintage. Find out more about En Primeur

What Does In Bond Mean?

Wines in bond, are purchased wines, which have had no UK duty, or VAT paid on them. Under UK law, they must be stored in a bonded warehouse approved by HM Customs & Excise. If you request the wines to be delivered to you (anywhere in the EU), then duty and VAT will be payable by you in addition to the price. The duty and VAT on wines purchased in bond can be deferred further by keeping them stored in a bonded warehouse.

En Primeur Prices

A description of the wine and prices will accompany our En Primeur wine list. All prices are quoted in bond, and are inclusive of freight and delivery to Paramount Vintners bonded warehouse at London City Bond in the UK. Insurance is inclusive. Prices may vary due to fluctuations in currency, the market and to stock not being sold.

Delivery & Storage

Following shipment, wines will be placed by default directly into our customer’s private reserves, at London City Bond. You will be informed of their arrival and asked to make a decision on whether you would like to keep the wines in bond, or to accept delivery.
Should you choose to keep the wines in bond, storage charges will apply. Should you choose to accept delivery of the wine, you will then be required to pay duty and VAT if the delivery destination is in the EU.

Insurance & Ownership

We will remain responsible for insuring the wine at the original invoice value, until your delivery and/or storage instructions have been completed. Ownership of the wines will pass on settlement of all outstanding charges.

Vintage Shipping Dates

When purchasing En Primeur wines online, the specific wine and vintage you buy, will have information indicating the anticipated date when that vintage will be bottled and shipped to the UK. Typically the wine arrives in the UK 1-3 years after the harvest, therefore up to 2 years after you have made your purchase. Such dates are an indication only and are not guaranteed.

Orders

Orders are placed in accordance with the procedures referred to in clause 10 of our general terms and conditions and are subject to availability. Stocks of certain wines may need to be allocated subject to demand, in such case Paramount Vintners reserve the right to allocate the stocks amongst interested customers in such proportions as it deems fit, at all times trying to be reasonable and fair. Some customers may not therefore be allocated any or only some of the quantities they have ordered. Orders will only be accepted if there remains unsold stock.

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