Contracts
Update standard Purchase and Sale Agreements immediately. Representations and Warranties clauses must be amended to state that the seller warrants all wine sold was manufactured no less than 10 years (previously 20) prior to the transfer date. Consignment agreements with third-party brokers must also reflect this expanded eligibility.
Hiring/Training
Beverage Directors and Sommeliers require immediate retraining on sourcing protocols. Staff must be instructed to verify vintage dates on physical labels against the new 10-year "Go/No-Go" criteria before accepting delivery. Purchasing guidelines must be updated to authorize the solicitation of offers for wines aged 10–19 years from private collectors.
Reporting & Record-Keeping
The burden of proof regarding wine age remains on the licensee. Invoices must explicitly itemize the vintage year for every bottle transferred. For wines lacking a printed vintage (e.g., NV Champagne), you must maintain secondary documentation (original purchase receipts or manufacturer codes) proving the wine was manufactured at least 10 years prior to sale. If documentation is absent, the transaction is prohibited.
Fees & Costs
There are no new statutory fees. However, Wine Collection Sellers must review insurance policies. Assets previously categorized as "personal collections" (frozen assets) are now liquid commercial inventory. You must ensure your coverage limits reflect the liquidity of 10–19-year-old bottles to avoid gaps in commercial property coverage.
