Cavex was founded with one clear vision in mind. To create a Global market place for wine trading where the trade, private clients and wine funds can trade together for the first time in a live market environment. Using the latest technology, the Cavex platform will aid members to buy and sell wine in one central market place, giving them the ability to set their own prices, in turn allowing them to maximise their returns. A low commission rate of just 3% will lower the barriers to wine trading, increase volumes and make trading more cost effective than ever before. The addition of a fully automated and free to use portfolio management system, will allow members to manage their wine collections personally and trade them in the same place. Automated trading, Portfolio management, low commissions and faster transaction times. Welcome to Cavex.
Getting started with Cavex is simple.
We have a two-step registration process requiring the following:
- Name, address, date of birth, main contact number and a valid email address
- A UK bonded storage account address or nominated shipper for members who wish to export
Please read our full terms and conditions. By accepting, you will be entering a legally binding contract for the purchase and supply of goods. When registering, you will find a summary of seven key points which you must individually accept in order to proceed.
Once registered, you will be able to access Cavex’s portfolio management screens, upload wines, view live market positions and navigate through the full site at your leisure. However, you will not be able to trade for between 4 and 24 hours. Why? We would simply like to say hello and get to know our newest member. This way we can answer any questions you may have and help you achieve the most from trading through the Cavex platform.
Cavex is a trading exchange platform.
Payments made by bank transfers will be paid directly into the Cavex Segregated Client Account held with Natwest Plc.
Members may also submit payments via their PayPal account or by credit card using PayPal. All sensitive personal details used during a transaction via this method are held by PayPal and not by Cavex.
The Cavex trading process ensures that all our members are kept informed as to which stage they are at during each transaction created. The procedure runs as follows;
- A Trade is matched by both parties
- The Buyer submits payment via their chosen method, including all handling or cross border charges
- Cavex confirm receipt of full payment into the segregated client account on the Sellers behalf. This releases email notification that the Seller is safe to instruct the delivery or the release of their stock as required. The email contains the Buyers storage account number and address details, or the chosen export shipper
- Delivery is instructed by the Seller to their third party provider using the details provided by Cavex
- The Seller should receive notification from their storage provider that the instructions have been carried out in full
- The Seller completes their next stage by notifying Cavex that delivery has commenced, providing the dispatch or collection number, with an Estimated Time of Arrival (ETA) or a collection date
- In turn the Buyer is notified via email that the stock has been instructed to their default bonded storage account. Alternatively if they are exporting, they receive the release number required by their nominated shipper. Collection must be arranged within seven days
- The delivery is carried out by the required method whilst under the full insurance of the seller ‘s delivery provider or the Buyer’s approved export shipper. Exporters must have the required insurance in place
- Once the goods arrive at the Buyers warehouse these should be inspected and checked by their storage provider. If exporting, the nominated shipper must confirm to the Buyer that the goods are as expected and therefore ready for export. The Buyer must ensure this is carried out before the goods leave the country. Shippers will provide this service as required. It must however be requested
- Once the goods are received as per the condition expected, the Buyer accepts delivery via their transaction page. Notification of acceptance is emailed directly to the Seller
- Cavex will then promptly remit the required funds to the Seller notifying them of Bank Transfer payment minus the required commission including VAT.
- The Cavex transaction is then complete
The provision of the Cavex Segregated Client Account means:
- The Seller may confidently release wines they have sold, whilst awaiting to receive their payment
- The Buyer can be confident that their payment is protected should wine arrive in a lesser condition to that expected as per the contract purchased
- Cavex will not instruct the Seller to release stock without first ensuring full payment is received from the Buyer on their behalf
- Cavex will not release any funds to the Seller without first receiving notification from the Buyer that they are satisfied with the purchase
Should either party wish to raise a grievance at any time, please be assured that Cavex offers a thorough resolution process.
For further information on Buying and Selling through the Cavex platform please read through our Marketplace section on the home page. Here you will also find more details on how to manage a portfolio, along with the Cavex contract types that ensure all members are aware of the quality of stock being traded.
If at anytime you wish to talk to us please call on the number at the top of the page and we will be happy to help.
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