Our Credit System
Introduction
As part of a club, we want our members to share their Whisky with each other. This not only promotes a club spirit, but it also helps everybody expand their Whisky experience. However there are problems with this aspiration.
Unfortunately China has a large problem with counterfeit goods. While the club can spend the time and effort dealing directly with reputable wholesalers, we realize that our members may not be able to do the same.
To guarantee the quality of our member's contributed Whisky, we require that it be purchased Duty Free with a valid receipt. We do realize this is not 100% foolproof, but we think its pretty damn close.
Duty Free Whisky however brings another catch. Being Duty Free, no money exchange can take place in the transfer of Whisky. Therefore we've come up with a reliable and fair system that allows you to share whisky with your fellow club members, no money required.
- The ONLY way to get credit is to bring approved Duty Free Whisky
- Credits have a one-to-one value with RMB
- You can NOT use money to purchase Credits
- You can NOT use money to purchase Duty Free Member's Whisky
- You can NOT use your credits to purchase China-Legal Club Whisky
- You can NOT refund your Credits for cash
- You CAN allocate or assign your credits to another person
The Process
Purchase an Approved Whisky Duty Free
We are a club for people who appreciate good single malt whisky. Many of our members probably know more about Whisky than we do, and we trust you to contribute quality whisky for you fellow members
However some of our less experienced members might be unsure of what to buy.
The Duty Free Stores have helped you out here already. The standard of whisky to be purchased Duty Free is typically quite high, but if you require a further guide, please view our list of Recommended Duty Free Whiskies to assist your purchase.
Register your Whisky with the Club
When you bring your whisky to the club, make sure to bring the Duty Free receipt with you.
The club's staff will double check everything for you, and will if necessary convert the cost price of the whisky to RMB.
The club will use the current date's exchange rate to determine the RMB price.
The final RMB price will be rounded up to the nearest whole number, and that will be the credit you will receive for the bottle.
Pricing the Bottle
The bottle must now be assigned a credit value for each 30ml serving.
45% of every contributed bottle is given to the club for the purpose of promoting Single Malt Whisky in Tianjin. This Whisky will be used for things such as :
- Recruiting New Members
- Whisky Tastings
- Competition Prizes
- Rewarding Service to the Club
The remaining portion of the bottle is priced according to the Duty Free Price paid. The credits will be rounded up or down to the nearest whole number.
The bottle is given a tag with the Contributors Name, the Date of Purchase, Price Paid, and the per Glass Price.
For Example : A 1000ml Bottle purchased for RMB400. The member received 400 credits for this bottle. 250ml is given to the club, and the remaining 750ml is equal to twenty five 30ml Glasses. Therefore each glass will cost 16 credits (400 / 25), or the equivalent of 16RMB.
Drink Whisky on Credit
The Club has two types of Whisky.
- Club Whisky - Whisky the club has purchased from suppliers in China. Sales of this Whisky support the Club's operation.
- Member Whisky - Duty Free Whisky that club members have contributed to the club in exchange for credit.
As long as a member has enough credit on their account, they will be able to order any whisky on the member shelf.
A member will not be allowed to use their credit to purchase Club Whisky (could be potentially interpretted as selling duty free whisky to the club).
The club will keep a record the member's current balance.
Leaving the Club
We understand that many of our members will only be temporary residents in Tianjin. A typical member might have contributed several bottles and have a sizable stack of credits.
Due to the nature of the club we cannot refund you any money for your credits, however we do have the following suggestions :
- You may withdraw your remaining balance of credits in the form of member whisky. The choice of whisky will be at the club's discretion.
- Notify the club that you wish to transfer your credits to another member.
- Donate your credits to the club. Your credits will be used for club activities.
You will need to notify the club in writing about what you wish to do with your Credit when you leave the club.
Expiring Credits
In order for our bar to be able to continue to offer this fantastic club service, we need to make sure that the member whisky continues to turn over. Having an expiry on credit encourages our members to drink their whisky rather than leave it on the shelf.
The more credit you contribute, the longer your credit will last.
To calculate how long your credit will last when you contribute a bottle, divide your credit by 100 in order to find out how many months you have to drink it.
Example 1 : if you contribute a bottle worth 600rmb, then you will have 6 months to drink that bottle.
Example 2 : if you contribute two bottles for a combined value of 1000rmb, then you will have 10 months to drink both bottles.
Example 3 : if you contribute one bottle for 400rmb, you will get 4 months to drink the bottle. After the first month you then bring a second bottle worth 600rmb, then you will have an extra 6 months added to the expiry of ALL your credit, including whatever you have left from the first bottle.
What happens after your credits Expire?
After your credit has expired you will have 6 months to contribute another bottle before your club membership will expire.
