What sort of wine is traded on HKOWCEX?
The wines traded are selected by HKOWCEX (link to wine list) primarily from the fine wines of the rated chateau's in the Bordeaux region of France.
In what units are the wines traded?
The wines are traded in units of their Original Wooden Case.
If the unit of trading is by case, are wines of all types of condition traded?
Only wines that are in Original Wooden Case (OWC) condition packed for shipment by the producers (Chateau's) are traded.
Are all the vintages of the wines registered with HKOWCEX available for trading?
The vintages available for trading are only vintages after 1980.
Can wines in "Premeur" (pre-bottled) conditions be traded?
Only wines that have been bottled and ready to deliver can be traded.
What sort of condition is the storage place for wine at HKOWCEX?
All wines are stored at bonded warehouses located in Bordeaux, Shenzhen and Hong Kong where the temperature is set at 18℃（+-1℃） and every consideration for security taken.
What is the method for transporting wine between Bordeaux, Shenzhen and Hong Kong?
Basically wine will be transported by ocean container and during summer a reefer container used but for other seasons wines will be shipped in a special insulated container which maintains the temperature between 16℃-22℃. Once the container arrives at Shenzhen, it will be stored at HKOWCEX's bonded warehouse agent immediately after1-2 days in the Customs Tax Yard.
Approximately how many days will it take for the wine to arrive in Shenzhen?
Other than the basic schedule of periodic shipments twice every month leaving from Bordeaux, there is a also an unscheduled shipment. Each container leaving Bordeaux normally arrives in Shenzhen 30 days later.
If I want an urgent delivery of the wine I bought, is it possible transport it by air?
It is possible to transport your wine by air provided you pay for the additional cost. We can provide a prior estimate of the additional cost.
How many days does it take until I receive the wine purchased from the Bordeaux wine stock?
After the cash for the purchase has been credited to HKOWCEX's bank account, the wine can be delivered 7 business days later.
How many days does it take until I receive the wine purchased from the Shenzhen wine stock?
After the cash for the purchase has been credited to HKOWCEX's bank account, the wine will be available at HKOWCEX's bonded warehouse agent located in Shenzhen for delivery to the purchaser approximately 45 days later.
Is it possible to resell the wine purchased at HKOWCEX?
It is possible to resell wine purchased at HKOWCEX provided it is kept at either of HKOWCEX's bonded warehouse agents located in Bordeaux or Hong Kong.
I'd like to ship the wine I bought for import to my country. What is the documentation required to clear customs in my country?
All required documentation to clear customs for Hong Kong, China, Japan, Korea,Taiwan, and Singapore will be prepared by HKOWCEX and passed to the purchaser as necessary.
For wines purchased where the stock is located in Bordeaux is it possible to receive the wine in Bordeaux then import to another country?
It is possible to import to another country provided that country it is not part of the EU.
Is it possible to sell wines at HKOWCEX that were not purchased at HKOWCEX?
Only Supplier Members that are approved by HKOWCEX are allowed to sell such wines.
In what currency are wines transacted?
All transactions are in Hong Kong dollars (HKD). The market price is in HKD and supplemented by a price shown in Euro's (EUR) . The price in EUR is only a reference where the actual settlement of transactions is in HKD.
When importing the wine to my country, is it possible to have a back label affixed to the bottles?
It is possible to affix a back label provided the purchaser pays for the additional expense. Upon prior notice HKOWCEX will provide an estimate.
At the time when Supplier Members prepare the wine they sold for shipment, what are the documents that need to be prepared?
When Supplier Members ship the wines they sold, the below documents should be submitted to HKOWCEX's bonded warehouse agent.
1) 3 copies of Certificate of origin (English)
2) 3 copies of Certificate of export analysis
3) 3 copies of Certificate of free sales
4) Copy of label (PDF possible)
5) Invoice for 98% of the Exchange Price addressed to HKOWCEX
6) Sales contract in the form prescribed by HKOWCEX (if required) signed by Seller
7) Purity and Health certificate
8) Bottling Certificate
Is it possible to return wines after receiving the shipment of wine?
It is not possible to return purchased wines.Moreover, HKOWCEX will not accept any claims for reimbursement on the contents of the wines. As such, when transacting in wines, please use prudence,especially for those that are old vintages.
In the case where a Supplier Member sells wine from their Bordeaux stock (at hand), what are the expenses involved?
The expenses for Sellers are:
a) packing and shipping cost to HKOWCEX's warehouse agent in Blanquefort for sale;
b) any applicable transit insurance;
c) packing and shipping cost if returned to seller;
d) any applicable taxes and duties (e.g. VAT)
What are the expenses for Members who purchased wine?
The expenses for Members who purchase are 2% of gross purchase amount as commission, shipping cost (fixed amount) from Bordeaux to Shenzhen or Hong Kong, as well as insurance cost.
The shipping and insurance cost may be revised from time to time. Also in the case where purchased wine is stored with HKOWCEX's at Hong Kong for the purpose of reselling, a predetermined cost per case will be charged each month commencing after the end of the following month the shipment was received.
Other requests as required by purchasers for special tasks, the cost for a separate estimate for such tasks will be borne by the purchaser.
When should the purchase cost for the wine be paid?
Once the transaction is executed in the system, the purchase Price (102% of the exchange price; shipment, insurance and storage fees) is to be paid to HKOWCEX's bank account in Hong Kong within 7 business days.
When can I receive the net sales proceeds?
The money from the purchaser will be paid to HKOWCEX. After HKOWCEX confirms receipt of the money, the onward wire transfer of the money will be processed byHKOWCEX within 7 Hong Kong business days. The standard is approximately 2 weeks after trade execution in the system.
To where should HKOWCEX approved Supplier Members deliver sold wines?
Delivery should be made to HKOWCEX's warehouse agent in Blanquefort.
Please tell me about the membership fee.
To be a HKOWCEX member a membership fee of HKD 25,000 (initial only) is required.
The membership fee is to be paid promptly after the contract has been finalized.
Please tell me about the system fee.
In order to use HKOWCEX system, a system fee of HKD 5,000 is required. The system fee will be free of charge for the first initial year but from the following year(2013) HKD 5,000 is to be paid by the end of January for subsequent years.
Please tell me about my login ID and password.
These will be issued to members after HKOWCEX has confirmed receipt of the membership fee.
For other questions or information where should I go to?
Please contact HKOWCEX's Call Centre:
Tel:
Asia Clients: +852-2164-8685
Business Hours: 9am - 12pm Hong Kong Standard Time
European Clients: +41 22 346 9926
Business Hours: 9am - 6pm Central European Time
What happens if a HKOWCEX member's rule is broken?
All members will be contacted by HKOWCEX when appropriate so that problems concerning transactions and settlements do not occur. However, in the event a member acknowledges an infraction of the membership rules, based on HKOWCEX's judgment that member's membership may be terminated. In such case HKOWCEX will not be responsible for compensating for any losses suffered.