Last update: 5/23/18
Vintage Funds, LLC (Vintage Funds) is a Delaware limited liability company, managed by WineDirect, formed to administer the receipt and processing of funds in connection with wine orders facilitated by third party marketing agents on behalf of WineDirect clients and orders facilitated by wineries on behalf of retailers using WineDirect’s 3-Tier System. Vintage Funds administers a custodial trust account held with Wells Fargo Bank for this purpose.
Vintage Funds does not process consumer payments. All consumer payments are processed through the applicable WineDirect client. 100% of the funds collected are then advanced by the client to Vintage Funds’ trust account on account for the licensed seller of record for the order, in accordance with accepted regulatory requirements, which mandate Vintage Funds receive funds for an order in full prior to shipping that order.
Upon confirmation of shipment of the ordered product, the funds held by Vintage Funds will be disbursed to all appropriate transaction vendors at the instruction of the licensed seller of record (SOR) as required by law. This includes required POs, invoices, and all taxes (excise and sales).
As funds are received from processed orders, please make sure to advance 100% of the Total Consumer Sale to Vintage Funds prior to shipment to sufficiently fund the transaction.
Wells Fargo Bank
420 Montgomery St.
San Francisco CA 94104
ABA Number: 121000248
Swift Code: WFBIUS6S
(for international wires only)
Wine Funding, Inc
FBO WineDirect Fulfillment
Account Number: 1513152593
Routing Number: 075911988
Upon shipment, 100% of the funds are disbursed by Vintage Funds to all appropriate entities: instate wholesaler, out-of-state-shipper (OOSS), product supplier, WineDirect and the client/third party marketing agent, as applicable, with the remainder retained by the licensed seller of record.
Any overpayment of funds advanced to Vintage Funds after all parties have been paid, will be returned to the client or may be held as advance of funds for future orders upon request.
To ensure consistency with laws in the state to which the product is shipped, an order submitted to WD with incorrect sales and/or excise tax amounts will be corrected in the WD system so that the correct amounts are paid to the responsible license holders for remittance to the state. The difference of the correction, whether positive or negative, will be applied to the amount clients receive from Vintage Funds when the order is complete.
The Vintage Funds account was set up to insulate funds advanced by WineDirect clients using the 3-Tier System from the daily operations of WineDirect. The Vintage Funds bank account is held at Wells Fargo Bank. WineDirect is the sole manager of Vintage Funds, LLC and has a fiduciary responsibility to disburse all funds to participants, regardless of whether WineDirect itself exists as a business. For more information regarding Vintage Funds, contact the WineDirect Finance Department at either 707.603.4059 or firstname.lastname@example.org.
Below please find a link to a Vintage Funds Pre-Funding Worksheet. This worksheet will assist in calculating a ballbark amount to pre-fund based upon order size, value and destination state.