FT Fine Wine Plan Terms & Conditions

1. The FT Fine Wine Plan (the “FTFWP”) is subject to these terms and conditions and is between you and Lay & Wheeler Limited (“LW”), Holton Park, Holton St Mary, CO7 6NN.

2. Membership to FTFWP will require a minimum monthly investment of £100 per month (“Monthly Investment”). There is no minimum term requirement.

3. Membership to FTFWP can be applied for via telephone or at www.ft.com/wineplan.

4. Any FTFWP member ("Member") who signs up for a 12 month term ("Term") will receive £300 of complementary wine ("Wine Gift"). For details of these wines please visit www. ft.com/wineplan. These wines will be added to the Member's cellar following the first month standing order payment. LW reserves the right to replace these wines with others of equal or greater value should stock not be available. The Wine Gift must be stored in reserves with LW. The Wine Gift will be subject to the same storage rates as purchased wines.

5. Members will be eligible for an advance purchase credit (“Purchase Credit”) of three times their monthly subscription amount. Any purchase above this level must be paid in full at the time of purchase. Members can begin to use the Purchase Credit immediately after making their first monthly standing order payment.

6. Members are also entitled to receive a wine credit (“Wine Credit”) of 3% of the invoiced price of the wines purchased under the FTFWP. Wine Credit will be available on FTFWP wines only and is not available for wines purchased from LW outside of the FTFWP range of wines. FTFWP Members have the option to select and purchase wines based on regular Member offers of the FTFWP and also have the option to choose from any wines within the LW range outside of the FTFWP. The Wine Credit shall be redeemable on a quarterly basis on 31 December, 31 March, 30 June and 30 September of each calendar year and can be used on any wines available in the FTFWP.

7. Members retain ultimate control over the direction of their unique buying profile. There is no requirement for Members to purchase wine on a monthly basis and no minimum purchase requirement.

8. Wines purchased en primeur will become subject to cellarage charges upon arrival at LW’s bonded warehouse in the United Kingdom.

9. Members will receive an Annual Stock Certificate incorporating the purchase price, market valuation and lot details of the Member’s FTFWP wine. Members will be able to access storage details and withdraw FTFWP wine on-line.

10. Members may terminate membership of the FTFWP by providing 30 days notice in writing to LW. Any Member who terminates membership prior to the twelve monthly instalment will surrender the entitlement to the Wine Gift.

11. LW shall retain legal ownership of and title to a Member’s wine until the Member has made all outstanding payments to LW.

12. A compulsory Portfolio Service Charge of £35 (inclusive of VAT) will be charged to Members on an annual basis as part of the LW FTFWP expert consultation service. LW 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.

13. Wine Gift wines will be stored at the LW cellar Vinothèque. Members will be subject to a compulsory annual cellarage charge (“Cellarage Charge”) for the storage of all FTFWP wine including the Wine Gift. The Cellarage Charge includes insurance cover against fire, theft, flood and accidental damage of the FTFWP wine. Cellarage will be charged on a quarterly basis on 31 December, 31 March, 30 June and 30 September of each calendar year for the preceding three months and will be calculated based on the amount of cases held in the cellar as at the end of each ‘quarter’. All details of current LW Cellarage Charges are available at www.ft.com/wineplan. The first Cellarage Charge payment for FTFWP Members will become due on 31 March and Members will be notified of the charge in advance.

14. For FTFWP wines purchased ex-cellars (lying in producers' cellars), Members will be advised upon subsequent shipment and, on arrival, wines will be cellared under bond unless LW receives written instructions to the contrary. Cellarage Charges for cellarage apply only to wines held in the United Kingdom either duty paid or under bond.

15. In the event of breakage or loss to a Member’s wine bottle(s) whilst in LW storage, LW will replace with either the same bottle, subject to availability, or a wine of equal or greater quality. Whilst LW will take every reasonable care in the storage of Member’s wines, LW will not be liable for any deterioration which may occur due to the natural processes to which wines and their corks are subject to.

16. Member’s may request delivery of part or the entirety of the FTFWP wine during or after the membership term.

17. Deliveries for duty paid drinking wines within the United Kingdom will be made between 24-48 hours after the delivery request and will be delivered before 12:00pm subject to a LW delivery charge. Members in the United Kingdom requiring delivery of reserve wines will be required to contact LW directly to request a delivery quotation and time estimate. International deliveries are subject to an additional charge that will vary according to destination. Members outside of the United Kingdom are required to contact LW to request a delivery quotation and time estimate.

18. Members will have the option to continue to store FTFWP wine with LW following termination of FTFWP membership by the Member, subject to continued LW Cellarage Charges.

19. Delivery of the entirety of a Member’s FTFWP wine will only be made following full payment of all outstanding charges owed to LW. LW shall retain the legal ownership of Members’ wine until the Member has made all outstanding payments due to LW.

20. LW shall not be liable to a Member if instructions are provided to leave FTFWP wine at their premises and it is subsequently stolen or damaged by a third party.

21. LW shall not be liable for any delay in delivering wine if that delay or failure is caused by circumstances beyond the control of LW. All Member claims for non-delivery should be made within one month of the delivery request.

22. Members must contact LW within 10 days of delivery of FTFWP wine in order to return any damaged bottle to claim a replacement. All wines must be returned in the original packaging to avoid further breakages.

23. LW cannot provide any guarantee as to the future value of any wine purchased under the FTFWP and accepts no liability for any decrease in value of the wine purchased under the FTFWP. LW provides drinking dates for guidance only.

24. All general enquiries should be addressed to LW.

25. LW reserves the right to modify these FTFWP terms and conditions at any time.

26. These terms and conditions are governed by English law.

27. Plan and wine purchase only open to people aged 21 years and older