Why we're introducing this
Our Fair Value policy is designed to ensure all our members are on a level playing field.
The concept is simple: members pay on a per-booking model.
So, members doing 1,000 bookings/month pay more than those doing 500/month vs those doing 100/per month.
Who the policy applies to
This policy only applies to members who exceed 1,200 load allocations a year (this is divided into 300 load allocations, for members paying quarterly).
If your load allocation is below 1,200 loads in a year, the Fair Value policy will not apply to you.
How we calculate the policy
The fair value policy applies once you exceed 1,200 allocated loads a year. We use your previous usage to forecast how much you pay for the next renewal period.
We bill members on an annual/quarterly basis. If you have successfully allocated more than 1,200 allocated loads a year or 300 allocated loads a quarter, you may find additional charges may apply at the next renewal point.
For members on annual renewal
The Exchange will use your last 12 months usage to help calculate your next membership renewal and if any additions are needed based.
- In a nutshell, this is 80p + VAT on every booking above the 1,200/year threshold.
- This 1,200 a year threshold is based on your previous data from 12 months prior. We count the 12 months usage from the date we raise your invoice.
- We raise your annual membership renewal 2 months prior to the annual membership renewal.
For example:
Membership renewal has been forecasted you will allocate 1,201 loads in the forthcoming year (one load more than the threshold).
So, you would pay your standard subscription fee + 0.80p + VAT for the one additional load that has been added to the renewal.
For members on quarterly renewal
Members paying quarterly pay every three months. We base how much the member must pay on the previous three months.
- In a nutshell, this is £1 + VAT on every booking above the 300/quarter threshold.
- This 300/quarter threshold is based on your previous data from the 3 months prior.
- Say your renewal is due in April 2023 via direct debit. We would use your last 3 months completed usage (from January, February and March).
- If you have exceeded more than 300 completed load allocations during this 3-month period, we will be adding £1 + VAT for every additional load.
For example:
If you had 301 loads allocations during this 3 month period, then we would be charging your standard membership fee and £1 + VAT for the one additional load allocation.
How can I find out how many loads I’ve used/have left?
You can submit a support request with our customer service team, and they will be able to send over your usage levels.
We are currently in progress of building a solution which would allow you to be able to track/review your usage.