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7. Storage
All clients’ wine is held, either duty paid or
under bond, at Octavian, Corsham, Wiltshire. See our Storage
page for further information. Storage
charges are invoiced quarterly in arrears.
We offer two kinds of storage accounts at
Octavian:
BOWES WINE LTD CLIENT TRUST ACCOUNT
All stock in this account belongs to Bowes Wine
clients and as such, is identified as not being part
of the company’s assets. Bowes Wine Ltd
maintains all records relating to the individual
ownership of the wine within this account.
Storage charges, from 1st May 2008, are
£8.50 per case (12x75cl or 9 litre equivalent)
/ £6.00 per half-case (up to 6x75cl or 4.5
litre equivalent) per annum including VAT and
insurance at full replacement value.
BOWES WINE MULTI-OWNER ACCOUNT
All stock in this account belongs to Bowes Wine
clients, as above, but the individual ownership of
the wine within this account is recognised by
Octavian: individual cases are marked with the
owner’s name, which is also recorded on
Octavian’s system.
However, Octavian recognises Bowes Wine Ltd as
responsible for the account and for payment of all
invoices, and as such, will only take instructions
from Bowes Wine Ltd with regards to withdrawals and
transfers.
It is therefore a requirement of this account that
the client signs a contract with Bowes Wine Ltd; this
confirms that Bowes Wine recognises individual
ownership of wines which are identified in bond, and
authorises Bowes Wine Ltd to manage the
client’s stock.
Storage charges are £10.00 per case (12x75cl or
9 litre equivalent) / £6.50 per half-case (up
to 6x75cl or 4.5 litre equivalent) per annum
including VAT and insurance at full replacement
value.
(For both accounts, wine in magnums and larger
formats will be charged at the 9 litre case rate.)
In the event of non-payment of storage charges, Bowes
Wine Ltd reserves the right to sell some or all of
the customers’ reserves and to deduct from the
proceeds of this sale any outstanding storage
charges.
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