All transactions are based on the idea of a stock. The stock is a batch formed by a set number of bottles of the same wine. There are wine stocks to sell and to buy( for sale and for purchase). The stock to sell ( stock for sale) is represented by the number of bottles that a seller wants to put on the market; a stock to buy ( st. for purchase) is represented by a buyer's intention of purchasing a set number of bottles of wine. When a stock is put on the market, it is necessary to indicate details for price and quantities. These represent the parameters used for selling and buying and they will determine the final trade.

SELL
Sellers wishing to put on the market a certain amount of wine, will be required to add the appropriate stock to the Stock Exchange. This will be done according to the following procedure: access the section " Stock Exchange" and then look for the product* to be sold (with "product*" we mean winery/wine/ vintage).

If the product is not on the list , sellers have to ask the Administrator for permission in order to add the new item (this can be done by clicking on "New Wine" within the section" My Stock Exchange"). Once the product has been located, it will be enough to click on the column "Sell".

This is when users will be required to insert the wine batch they want to sell.

When placing the new batch on the market the following details are compulsory: the type of market ( B2B or B2C), the quantity of wine bottles introduced on the market, the unit price, that is to say the minimum price requested by the seller for each individual bottle and , finally, the starting date for the validity period. As additional data, users can add the end of the validity period, the minimum amount that can be ordered and a confirmation value, beyond which the seller’s confirmation is necessary in order to proceed with the final transaction.

Once all data have been entered , users are requested to give further confirmation before finally introducing the new product on the market.

If users give confirmation, the stock is finally added to the market.

We have a control system in order to avoid mistakes or introduction on the market of wine stocks that do not meet set parameters. That is why the Administrator will have to check that the new stock meets the required standards before entering the market. In this case, the new stock is nevertheless saved and the user is notified with an appropriate message.

In this phase, conditions requiring confirmation are the following:

• Whenever the new stock is introduced and it is the first one for that specific item.
• Whenever the number of bottles put on the market differs by more than 20% from the average number of bottles for the same wine displayed in different stock.
• Whenever the price requested differs by more than 20% from the average prices indicated for the same product in other stocks already on the market.

In the event of a confirmation request by the administrator, please see authorization page below:



From now on, the stock is on the market ready for purchase.

BUYING

In order to purchase a product, it is necessary , first of all, to find the item of interest in the section Stock Exchange"( or in the section " My Stock Exchange" if someone wishes to buy a wine previously bought or sold, or at the home page if the wine is within the first ten on the market) Click on the icon of the column: "To Buy". The page will then appear with details on how to add the stock of interest.

Note : It is possible to add Buy Stocks even where there are no Stocks for Sale available for that wine. In this case, the Buy Stock is saved and is processed whenever a seller places the product on the market for purchase.



Compulsory data to be added are the amount requested and the maximum unit price. Additional data can be the end of the validity period and a minimum number of bottles to be purchased. Once all data have been added, users are requested a final confirmation.



If the user clicks the "OK" button, the Buy Stock will be finally added.



If the Buy Stock's parameters are compatible with both the actual value of the product and that of the Stock for Sale, the exchange will take place automatically.



If the total order value is above the maximum amount for which offers will be accepted automatically without previous confirmation by the seller, the seller’s confirmation will then be required (provided that there is no plafond in which case see below).



By using the following page, users can provide their authorization to proceed.



If authorization is provided, the exchange will take place.

If a plafond is present and its remaining amount is above or equal to the total order value, authorization is given even if the amount is above the maximum confirmation value set by the seller; the remaining plafond's amount is reduced of the value of the transaction. We remind users that the plafond is also reduced during a normal sale transaction, when the amount is below the maximum confirmation value set by the seller.

If the quantity requested in the Buy Stock is above the one currently available, the order will be fulfilled first by using the product available at the moment. At the same time, an additional order will be placed for the remaining quantity to be delivered.