Terms of Service

ELX is a business-to-business marketplace for cosmetic and nutraceutical ingredients, run by European Longevity Exchange (ELX). These terms govern the use of the marketplace by the companies registered on it and by the people who act for them.

• Only companies and other legal entities, acting in the course of their business. ELX is not for consumers.
• Every company is verified before it can trade: that it exists as declared, that the person using the account may act for it, and who that person is. Until then the account can only complete its verification.
• Companies and people on sanctions lists may not use ELX.

One account can act for several companies, in the role of buyer, seller or both. Everything done on the platform is done for the company you act as at that moment. You keep your credentials confidential and tell us promptly about any unauthorised use.

• ELX brings buyers and sellers together and records what they agree. The sale contract is between the buyer and the seller; ELX is not a party to it and does not own or handle the goods.
• ELX does not hold the price of the goods. It is paid through our payment provider (currently Stripe) or by bank transfer directly to the seller.
• ELX does not certify the quality or compliance of the goods. Documents such as certificates of analysis come from the seller.

A seller is responsible for its listings being accurate, complete and lawful — the product, its specifications, origin, quantity, price, the delivery rules it offers (Incoterms) and whether it offers samples. Listings are reviewed before they are published; changes to what the product is send it back to review. A withdrawn lot does not affect purchases already in progress.

• A purchase starts when the buyer chooses a quantity and a delivery rule. The quantity is held for the buyer while the terms are agreed.
• The seller proposes the delivery terms; either side may propose a new version. Each new version replaces the previous one, and acceptances of an older version no longer count.
• The purchase becomes binding when both companies have confirmed the same complete version of the terms.
• Each side has 72 hours, counted on business days, to answer the other’s move. If that time passes without an answer, the negotiation expires and the held quantity is released.
• Either side may decline before the terms are confirmed, stating a reason.

ELX charges a commission on the value of the goods, to the buyer and to the seller, according to the commission grid in force when the purchase is confirmed (currently 5% each). Delivery costs are never part of the commission base. On Stripe payments the commission is deducted from the payment automatically; on direct payments ELX invoices it to each company separately.

• The buyer pays in full after both companies have confirmed the same terms, within 48 hours counted on business days from when the payment opens.
• On direct payments, the buyer first pays its ELX commission; the seller’s bank details are then shown, and the buyer has 48 business-day hours to transfer and upload proof of payment. The seller confirms receipt within 72 business-day hours.
• A payment may be held while ELX completes its compliance checks. Nobody is late while a payment is on hold.

• Delivery follows the Incoterms® 2020 rule agreed in the terms (FCA, CIF or DDP), with the carrier, costs and dates agreed in the same version.
• The seller dispatches within 72 business-day hours from receiving payment, or from the agreed ready-to-ship date if that is later, and records the carrier and tracking number.
• The buyer confirms receipt within 72 business-day hours from the estimated arrival, which takes into account the transport mode and route.

Samples are free of charge. Who pays for shipping them is declared by the seller on the lot. A seller may decline a sample request, stating why.

A missed deadline does not change any fact by itself; it lets the waiting company escalate. Either company may open a dispute on a transaction at any time. ELX may help the companies reach a resolution but does not decide the sale contract between them.

• Providing false information about a company, a person, a product or a payment.
• Moving a transaction found on ELX off the platform to avoid the commission.
• Trading goods that are illegal, counterfeit or subject to sanctions, or with sanctioned parties.
• Interfering with the platform, other accounts or other companies’ data.

ELX may suspend a company or an account that breaks these terms, that is under a compliance hold, or whose verification is withdrawn. A company may close its account at any time; obligations from transactions already confirmed continue until they are completed.

ELX provides the marketplace as it is and is not liable for the performance of the sale contracts between companies, for the goods, or for indirect losses. Nothing in these terms limits liability that cannot be limited by law.

Each company keeps the rights to the content it uploads and allows ELX to use it to run the marketplace. Terms negotiated between two companies are confidential to them and to ELX.

The governing law and the competent courts are to be confirmed with counsel before these terms take effect.

We tell companies by email before material changes to these terms apply. Questions: contact@elx.com. How we handle personal data is described in the Privacy Policy.