Frequently Asked Questions

About Still In Cask

What is Still In Cask?

Still In Cask is an innovative, global platform developed to democratise the ownership of cask spirits by dividing a full cask into Cask Shares and assuring ownership of those shares using a public blockchain.

Why has Still In Cask come about?

Cask ownership is usually reserved for those that can afford an entire cask or those that can form a syndicate of like-minded individuals. The process of buying a cask is often complicated and tailored to investors. Many enthusiasts are therefore excluded from the enjoyment of owning spirits in cask. Whisk(e)y and cask aged spirits are continuing to enjoy global growth, from everyday drinking to collectables. The consumer profile is getting younger and no longer a perceived male preserve. Still in Cask recognises that there is an opportunity for more spirits enthusiasts to get involved with cask ownership and for the distillery and the consumer to form a closer and more direct relationship. The platform is open to distillers and consumers all over the world and is aimed at anyone with more than a passing interest in enjoying Whisk(e)y and aged spirits.

What size is a Cask Share?

This is determined by the distillery/producer. Most commonly Cask Shares are 70cl of cask strength spirit, but a producer may choose a different size and alcoholic strength if they wish. The size and strength of the cask share can be found in the description and the terms and conditions.

Is this like 'En Primeur'?

Yes. The phrase En Premier is specifically associated with aged wine, generally Red Bordeaux. But the principle is the same, in that you are buying young liquid, that is not ready to drink, and when it is ready in several years time, you redeem, pay taxes and postage, and get your bottle of aged liquid. There are some subtle difference when compared with En Premier. When you buy wine En Premier it is initially in the barrel, however shortly after, it is bottled and then usually shipped to a bonded warehouse that is run/owned by the retailer who sold you the En Primeur. There the wine will sit ageing until you choose when to redeem it... hence with wine the majority of the aging happens in the bottle. In contrast, with spirits, the ageing happens in the cask, and it will be the distillery that decides when to bottle it, and deliver to you.

Blockchain

What is a blockchain?

Blockchains are a way of recording transactions – similar to a database but without relying on a central authority to maintain it.

How does Still In Cask use the blockchain?

Still In Cask uses a public blockchain to record customers’ accounts and their Cask Shares.

Why does Still In Cask use a public blockchain?

Using a public blockchain gives you a more secure, open and public record of your purchases through Still in Cask. Another way to look at it is, if we disappear (we hope we don’t), there is still a public record of your cask share contract with the distillery.

Which public blockchain does Still In Cask use?

We use the Stellar Network, found at stellar.org

Why does Still In Cask use the Stellar Network blockchain?

We use Stellar Network because it is a fast, open-source, decentralised blockchain with low fees.

What happens to my cask shares if the blockchain fails?

The Stellar network is an open-source decentralised blockchain. Still In Casks access to the blockchain may be interrupted from time to time for many reasons, but all information and cask shares on the blockchain are completely safe.

Using Still In Cask

How do I register?

You can register by clicking the ‘register’ button on the homepage.

How do I send Cask Shares to someone else?

To send Cask Shares you will need to know the email address of the person you are sending to. Navigate to the bottom of the ‘My Cellar’ page. Select `Gift Transfer` and complete the form. When it is submitted we will check whether the email address is already registered and if so will automatically send the Cask Shares to the recipient’s account. If the email address is not registered we will send them an email informing them of their gift, and invite them to join Still In Cask.

Why are Excise Duty and Taxes not included in the upfront cost?

There are number of reasons for this. Duty and taxes are payable by the distillery/producer when the spirit is taken out of ‘bond’ and bottled. This will be many years after you have purchased the Cask Share and the amount of duty and taxes may have changed over that time. There are also situations where no duty is not payable, such as if the cask share is being sent overseas. More information can be found in this Blog Post.

What is the Platform Fee?

This is the money that comes to Still In Cask, that we use to run and make our platform better. It's 4.9% of the Cask Share price. The Cask Share price goes directly to the distillery, we don't take any cut of that. We like to be very transparent, hence we broke this out, so everyone can see who gets what money.

What if I forget my password?

If you forget your password, you can reset it by clicking the link on the sign in page. You will be emailed instructions.

What should I do if I lose my secret key?

If you lose your secret key, you should email us. We can recover your account and issue you with a new secret key.

What should I do if my secret key is stolen?

If someone apart from you has access to your secret key your account and your Cask Shares are vulnerable. If this happens you should email us immediately. We will make every effort to secure your account.

How do I join Still In Cask as a distillery/producer?

We need to perform some checks before a producer is allowed to register on Still In Cask. Any producer that would like to list cask on Still In Cask should contact us before completing the online registration.

Can I get a refund?

Yes, if it is within 7 days of your purchase. Simply go to 'My Orders' and click the refund button next to the appropriate order.

When will I receive my spirit?

You will receive your spirit after the bottling date when the final invoice for duty, taxes and delivery is paid.

Are my Cask Shares insured?

This is dependent on the producer and is detailed in the terms and conditions of the Cask Shares you bought. Usually there is a provision in the terms and conditions for loss of the cask such as replacement with a similar cask.

Can I give my Cask Shares to someone else?

Yes. This is easily done through the `My Cellar` > `Gift Tranfer`.

Can I sell my Cask Shares?

You will need to check the law in your country and the terms and conditions of the cask. In the UK you are not allowed to sell your Cask Shares for profit unless you are registered with HMRC under the ‘Warehouse Owner of Warehoused Goods Regulations’ (WOWGR).

Can I buy Cask Shares if I'm not in the UK?

Please check the terms and conditions of the Cask Share.

Is there a limit on how many Cask Shares I can buy?

There is a limit of six Cask Shares per person for the first two weeks after a cask is listed. This ensures as many people as possible who want to own part of the cask have an opportunity to do so.

How do I know if the spirit will be any good?

Each cask is unique and the spirit in those casks is also unique. This is part of the fun and excitement of owning cask spirits. We like to list unique casks from innovative, progressive distilleries so it is possible that the spirit from a particular cask might not be to your personal taste, but we are sure the journey and discovery will be enjoyable regardless.

Account Credits

What are Account Credits?

Account Credits are in essense money stored on your account that you can use. It is recorded on the Stellar blockchain, just like Cask Shares.

What can Account Credits be used for?

Account Credits can be used for paying redemption costs of a Cask Share, eg the applicable taxes and postage. They can also be used for purchasing on the Exchange.

Can I gift transfer account credits to a friend?

Yes. You can transfer Account Credits of any amount by themselves to a friend. They can also be tranferred along with a gift of a Cask Share, as a way of paying for the redemption costs that friend will incur in the future.

How do I buy Account Credits?

In your account under the 'Profile' section, your current Account Credit balance is displayed. Next to the balance you can click on the plus icon to use your credit card to add more Account Credits to your account.

Who am I paying for Account Credit?

When using your credit card to buy account credits, you are paying Still In Cask Limited. We segregate this money and hold this in a seperate account.

Can I withdraw it to my Bank?

Yes and No.

No: Account Credit that you have added yourself to your account or that has been gifted to you must be used on Still In Cask. We can not transfer it to your Bank Account

Yes: If Account Credit has been added to your account due to selling on the Exchange. Simply email us to arrange withdrawal.

Can I buy Cask Shares using Account Credit?

Yes and No.

No: On the Marketplace where Distilleries and Brands sell Cask Shares, they are selling directly to you and the money goes directly to them. We currently dont have a mechanism to transfer the Account Credit to the Distilleries/Brands for your purchases from them. We hope to add this feature in the future.

Yes: If Account Credit is used on the Exchange.

Gifting Cask Shares

What if the recipient doesn't register?

Until the recipient has registered for an account on Still In Cask, the Cask Shares remain in your account. You will see the transfer as Pending under `My Orders`. You can also cancel this pending tranfer at any time, by clicking on the delete button next to the pending transfer.

Redemption

What happens at redemption?

When the liquid reaches maturation, the Distillery/Brand will then bottle the liquid. At this point they will need to pay applicable taxes, like Duty and VAT. Still In Cask will email all Cask Share holders and ask them to pay for the applicable taxes and postage for their Cask Shares. Once you have paid these redemption costs, the bottle will be posted to you.

What if I don't redeem my Cask Share?

We hope you do, as that is the whole point of Still In Cask, so you can enjoy drinking the aged liquid. It should be noted that the Distillery/Brand will have already paid applicable taxes, like Duty and VAT upfront, for the whole cask, and are now having to pay for additional storage costs of your bottle. With that in mind, all Cask Share holders are given up to 6 months to redeem, after bottling, but if they don't, they will lose their Cask Share. We will attempt to email all Cask Share holders, but we can not guarantee delivery of email to your inbox. It is your responsibility to ensure your email is up-to-date and valid on your account, and that @stillincask.com has been whitelisted on your Spam detection system to aid email deliverability. Ultimately it is Cask Share holder's responsibility to redeem their Cask Shares promptly. Note your Cask Share contract is with the Distillery/Brand directly, as they are the sellers of the liquid to you, not Still In Cask as we are a technology marketplace providor.

Exchange

What is the 'Exchange'?

The Exchange is a place where you can sell your Cask Shares, or buy Cask Shares from another member like you.

What sale price can I set?

You can set any price for the Cask Shares you want to sell. You can set different prices for the different quantities of the same Cask Share.

Are there any fees?

Yes. There is a 10% exchange platform fee. When a seller lists a Cask Share, we add on 10%, and then this all-in price is shown on the exchange to the potential buyers.

How do I get paid?

When you sell a Cask Share on the Exchange, we will add the proceeds (minus the 10% platform fee) as 'Account Credit' to your account. You may hold this Account Credit for future use on Still In Cask. You can use this Account Credit to pay for redemptions costs or to buy Cask Shares from the Exchange. You can also contact us to withdraw the Account Credit (from your Exchange sells) to your bank account.

Can I Sell any of my Cask Share?

Cask Shares are only available to list on the Exchange, once the original share allocation has sold out on our main marketplace platform.

Are Cask Shares on the Exchange 'In Bond'?

Yes, all Cask Shares on the Exhange are 'In Bond' and hence you will need to pay applicable taxes and postage on redemption.

Who is responsible for delivering the bottles once redeemed?

The Distillery/Brand who listed the Cask on our main Marketplace is responsible for the delivery of all bottles bought from the Exchange.

Brand Guidelines

Do you have any brand guidelines, e.g. regarding icons or colours?

Yes. Please note, you do need our permission to use our icon, branding etc. We are generally happy for press/distilleries to use our branding to promote or discuss Still In Cask. Please do contact us for further details. Icons, Logos, and Styling details can be found here: Brand Guidelines

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