To give you the opportunity to quickly bid on bottles, we give customers with a wallet a so-called trade credit. You will NOT be charged interest for using the trade credit. We have introduced this facility in THE SWEX to make it convenient for our customers.
Naturally, there are some conditions attached to the use of this trade credit. If abuse of this facility is detected, THE SWEX will take action.
Example
Your trading credit amounts to 50% of your portfolio, valued at the price for which you purchased the whiskies. Suppose you purchased 10 bottles for €250 each, then your trade credit is €1,250 (50% of €2,500). You can then bid on bottles up to a value of € 1,250. As soon as you start using your trade credit, you will be notified of this on THE SWEX and by e-mail. After completing the purchase transaction, you have three working days to top up your balance to at least €0.
Please note
You cannot use your trade credit if your balance is negative.
If you have not replenished your balance after three working days, you will be blocked from making new purchases. You will be informed of this by e-mail.
If you have still not cleared your balance after a reminder, THE SWEX reserves the right to sell whiskey from your portfolio on THE SWEX until the desired balance has been reached. This will only happen after consultation with the customer.