Premium Membership Terms

These Premium Membership Terms set out the terms on which The Pallet Exchange Ltd ("TPX", "we", "us", "our") provides its paid Premium membership to your business. They apply in addition to our Terms of Trading and our Privacy Policy. If there is any conflict on a point about Premium billing, these terms apply.

The Pallet Exchange Ltd is registered in England and Wales (Company No. 17361549).

1. What Premium is

Premium is an optional paid membership for verified members. Membership of the exchange itself is always free (pay-as-you-go). Premium adds the following benefits for as long as it is active:

• A lower selling fee of 3.5% per sale, instead of the 5% pay-as-you-go rate
• Early access to every new lot for its first 2 hours before it opens to pay-as-you-go members
• The ability to post Buy Requests, so sellers come to you, at no additional cost
• Priority support

The flat per-deal fee and any VAT that applies to a trade are the same on both plans and are set out in our Terms of Trading. Premium changes the selling margin rate and unlocks the benefits above; it does not change how a trade itself works.

2. Your free period

Every approved member receives a period of Premium at no charge. Members of the Founding 100 receive 12 months free. All other members receive 3 months free. During your free period you have every Premium benefit and you are not billed anything.

You do not need to do anything to enjoy your free period. You only set up payment if you choose to continue on Premium when the free period ends.

3. Price and VAT

Premium is £195 per month plus VAT. Once TPX is VAT registered we add VAT at the current UK rate (20%, so £234 per month including VAT) and provide a VAT invoice for each payment. Until then no VAT is charged.

If the rate of VAT changes, the VAT-inclusive amount will change accordingly. If we change the price of Premium itself, we will tell you first, as set out in section 9.

4. Setting up payment, and when you are billed

Premium is paid by Direct Debit. When you choose to set up Premium, you are taken to our payment provider, GoCardless, to authorise a Direct Debit from your business bank account. Payment is set up and managed on our website; it is not taken inside our mobile apps.

Premium is billed monthly in advance. That means each payment covers the month ahead.

• If you set up Premium while you are still inside your free period, your Direct Debit is arranged straight away but your first payment is not taken until your free period ends. You keep every free day.
• If you set up Premium after your free period has ended, your first payment is taken shortly after you authorise the Direct Debit.

Once your Direct Debit is set up, your Premium benefits continue without a gap. Each following payment is taken on the same date each month for the month ahead.

5. The Direct Debit Guarantee

All payments are protected by the Direct Debit Guarantee, which is provided by the banks and building societies that take part in the Direct Debit scheme. You will be given advance notice of the amount and date of each collection. If an error is made in the payment of your Direct Debit, you are entitled to a full and immediate refund from your bank. You can cancel a Direct Debit at any time by contacting your bank.

6. If a payment cannot be collected

If a payment fails, we will let you know and our payment provider will try again. Your Premium benefits continue while we try to collect. If the payment still cannot be collected after those attempts, or if your Direct Debit is cancelled, your account moves to pay-as-you-go and the Premium benefits pause until you set Premium up again.

7. Cancelling

You can cancel Premium at any time by signing in on our website and cancelling your membership there, or by contacting us at hello@thepalletexchange.uk.

Because Premium is paid in advance, cancelling stops your next payment. Your Premium benefits continue until the end of the month you have already paid for, and your account then moves to pay-as-you-go. We do not refund part-months.

8. What changes when you are no longer Premium

When Premium ends, whether because you cancelled, a payment could not be collected, or a free period ended without payment being set up, your account moves to pay-as-you-go. From that point:

• Your selling fee returns to 5% per sale
• You no longer get the 2-hour early access to new lots
• You can no longer post Buy Requests

Any trade you have already agreed is completed on the terms that applied when it was struck. You keep full access to the free pay-as-you-go exchange.

9. Changes to the price or these terms

We may change the price of Premium or these terms from time to time. Where a change affects you and is material, we will give you reasonable notice by email or in-app notification before it takes effect. If you do not agree to a change in price, you can cancel before it applies, as set out in section 7.

10. This is a business service

Premium is provided to verified businesses for use in their business. It is a business-to-business service, so the cancellation and cooling-off rights that apply to consumers do not apply. You can, however, cancel monthly at any time as set out in section 7.

11. Our agreement with you

These Premium Membership Terms, together with our Terms of Trading and Privacy Policy, form the agreement between you and The Pallet Exchange Ltd about Premium. They are governed by the law of England and Wales, and the courts of England and Wales have jurisdiction.