Practical checklists

Working checklists to apply directly. These are the questions to answer before a position is priced, committed or shipped — not a substitute for transaction-specific legal, tax or excise advice.

Five-minute cask assessment

• What exactly is the spirit — style, and is that documented?
• Where and when was it produced and filled?
• What has the cask held before, and how active is the wood?
• What are the latest volume, ABV and LPA — measured, not assumed?
• Can identity and ownership be reconciled across every document?
• What charges, arrears or restrictions exist?
• Has it been sampled, and is the sample traceable to this cask?
• Who is the likely buyer?
• What work is required before sale?
• What evidence supports the value?

Buyer readiness

• Define the intended use before looking at stock
• Verify seller authority with documents, not assumption
• Review the documentation chain in full
• Confirm sample identity against cask identity
• Obtain a current regauge
• Calculate total landed or bottled cost, not purchase price
• Confirm the warehouse will recognise you and administer the stock
• Understand the duty and tax position for the intended movement
• Agree when title and risk pass, and what evidences completion
• Retain complete records

Seller readiness

• Establish and evidence authority to sell
• Reconcile the asset schedule against warehouse records
• Obtain current warehouse information
• Clear or disclose outstanding charges
• Prepare traceable samples
• Define the sale basis — per cask, per bulk litre, per LPA or portfolio
• Qualify buyers before releasing sensitive detail
• Control information release; avoid indiscriminate circulation
• Document completion
• Give the warehouse clear, written instructions

Transaction documents

• Confidentiality agreement
• Asset schedule
• Ownership evidence
• Warehouse confirmation
• Regauge record
• Sample record
• Heads of terms
• Contract
• Invoice and payment evidence
• Transfer evidence and warehouse acknowledgement
• Movement instruction

Product development

• Market and customer defined
• Legal category confirmed against the current Technical File
• Liquid, age and ABV specified
• Volume and target price agreed
• Bottle, closure, labels and cases specified
• Bottler selected and scheduled
• Label compliance reviewed for every destination market
• Freight and launch date planned backwards from delivery

Export readiness

• Importer of record identified
• Destination registration completed
• Label compliance confirmed for the destination
• Duty status confirmed
• Commercial invoice and packing list prepared
• Movement and customs documents in place
• Freight booked and insurance arranged
• Pallet specification and delivery terms agreed
• Payment security agreed