CASK PURCHASES
The terms contained herein regulate your use of the Dublin Bonders website www.dublinbonders.com, and constitute a legally binding agreement between the parties involved. Please review these Terms and Conditions scrupulously before proceeding further on this site. By navigating this site, you are acknowledging your agreement to these terms. These Terms and Conditions apply to all contractual agreements, superseding any other terms the Investor may attempt to introduce, include, or that might be implied by trade, custom, practice, or course of dealing. Important Note: This is an Asset/Commodity purchase only. If you are purchasing casks as an investment, please note the value of investments can fall as well as rise. The Company does not provide investment advice.
SECTION A. DEFINITIONS
- Angels Share Secured Investments Limited trading as Dublin Bonders/Irish Whiskey Assets ‘the Company’.
- Purchaser refers to the individual(s) or legal entity who purchases or agrees to purchase the Goods from the Company.
- Casks are defined as 200-litre capacity containers filled with alcohol, which is subsequently distilled by Great Northern Distillery Limited (GND) with the intent of producing Irish Whiskey. The Casks will be held in a Bonded warehouse as selected by the Company.
- Terms and Conditions refer to the purchase conditions as stated in this document.
- The contract defines the agreement established between the Purchaser and the Company for the purchase of Goods under these Terms and Conditions.
- The Company makes no warranties, assertions or predictions as to the future value of the Casks.
- Events Outside of Control are any occurrences beyond reasonable control, including but not limited to strikes, lock-outs or other industrial actions by third parties, civil unrest, riot, invasion, terrorist threats or attacks, war (declared or not), fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, failure of public or private telecommunications networks, or impossibility of the use of railways, shipping, aircraft, motor transport, or other public or private transportation.
- Irish Whiskey is defined as per the Irish Whiskey Act, 1980.
- Nominee Agreement refers to an agreement between the Company and a Purchaser in which the Company holds the legal interest in the Goods for the Purchaser’s benefit.
- Orders refer to orders for Goods placed by the Purchaser with the Company upon completion of the Company’s application process, which includes payment of the Purchase Price.
- Purchase Price is the cost of the Goods.
- Goods refer to the Casks of alcohol distilled by GND, which the Purchaser agrees to purchase from the Company.
- This agreement to purchase Casks is strictly between the Company and the Purchaser only.
SECTION B. BASIS OF CONTRACT
All orders placed by the Purchaser are considered an offer to purchase the Goods in accordance with these Terms and Conditions. The Purchaser is responsible for ensuring the accuracy and completeness of their application for Goods.
The Company reserves the right to replace individual Casks with Casks of comparable age, provenance and value. The Contract embodies the entire agreement between the Purchaser and the Company.
The Purchasers acknowledge that their decision to engage in the Contract has not been influenced by any statement, promise, representation, assurance, or warranty provided by or on behalf of the Company unless expressly stated within the Contract.
Any samples, drawings, descriptive matter, or advertising produced by Dublin Bonders/Irish Whiskey Assets, and any descriptions or illustrations contained in the Company’s catalogues, brochures, or website, are solely to produce a general idea of the Goods described in them. They do not form part of the Contract or have any contractual force.
Each cask is identified by a PIN provided by the Company.
To comply with regulations regarding the storage of Casks in a Bonded Warehouse, the Company remains the Official Owners of the Casks, and the Purchaser remains the Beneficial Owner. This relationship remains in force until the Purchaser disposes of their Casks or moves them to another Bonded Warehouse.
The Purchaser is responsible for the payment of storage and insurance costs for their Casks.
The Company does provide refunds to Purchasers on prepayment of storage and insurance costs.
SECTION C. NOMINEE AGREEMENT
It is imperative to understand the relationship between the Official Owner (the Company) and the Beneficial Owner (the Purchaser) to ensure a transparent transaction process. The Official Owner, represented by our company, holds legal title to the Casks in question. However, we want to emphasise that the Official Owner does not assert any ownership claims over these casks. As such, these Casks do not appear on the Company’s balance sheet. The Beneficial Owner, on the other hand, holds the equitable interest in the casks and retains all rights associated with ownership. This includes the authority to make decisions regarding the sale or disposal of the casks. We assure you, the Purchaser, that the Beneficial Owner exercises full control and autonomy over these decisions. This arrangement is designed to provide you, the Purchaser, with peace of mind regarding the ownership status of the casks and the transparency of the transaction process.
The Beneficial Owner is the party who enjoys the benefits of ownership and has the right to control or derive income from the asset despite not holding legal title. While the Legal Owner holds the legal title, the Beneficial Owner holds the equitable or beneficial interest in the asset. This interest may arise through various arrangements such as trusts, contracts, or other fiduciary relationships. Importantly, the Beneficial Owner has the ultimate say in the management, use, or disposition of the asset, even though the Legal Owner may hold formal legal title.
For the Beneficial Owner, this arrangement provides assurance that despite not being the legal title holder, they retain substantive rights and control over the asset. This ensures that their interests are protected and that they can exercise their rights in accordance with the terms of the underlying agreement or arrangement. The legal framework recognises and upholds the rights of the Beneficial Owner, providing comfort that their interests are safeguarded within the bounds of the law.