Liv-ex trading contracts

 

Summary

Liv-ex contracts standardise trading on the market, ensuring that you know exactly what to expect when your case arrives.

The majority of trades on Liv-ex are within the Standard in Bond (SIB) contract. These are for wines with no condition issues, held in bond and delivered to Liv-ex within two weeks of the trade taking place.

Standard En Primeur (SEP) contracts are for wines that have been released for sale but are not physically available on the market. Specific delivery and payment terms apply.

All other trades take place under a Special contract. Wines may be listed as Special for a variety of reasons. For example, the duty might be paid, there might be a condition issue, or the time frame for delivery might be a little different. Often they are in perfect condition. The reason or reasons are highlighted on the trading summary page, and where there is a condition issue, photos are available.

A sub-category of the Special contract is Special Now. These wines all have one thing in common: they are available instantly in the Liv-ex warehouse. They might otherwise be available as SIB, or as a regular Special. You can read more about Special Now here.