Step 4: Get paid faster
The introduction of weekly payment periods has dramatically reduced settlement times.
Wine is invoiced once it has been received and cleared by Vine. Liv-ex’s average settlement time – measured from trade date to payment date – has more than halved since 2012, as days to receipt have been significantly reduced.
How can you speed up payment time?
- Send your stock into Vine.
- Apply for an SIB Passport for your wines.
- Sell your wine on Liv-ex and get paid in as little as seven days.
The SIB Passport ensures that a case of wine complies with the Liv-ex SIB contract, enabling immediate invoicing upon a sale. If the wine remains stored in Vine, the SIB Passport is valid for two years and is transferable between Vine customers. The cost of the SIB Passport is credited upon sale through Liv-ex.
Contact your Account Manager to find out more.
How do you identify new opportunities to trade? Take a look at Step 3.
