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Terms of Business – non-US services
(Please scroll down to view Terms of Business – US Stocks service & Market Timing service)

These Terms of Business contain important information regarding the way in which Stockcube Research Limited ("Stockcube") of Plaza 535, Kings Road, London SW10 OSZ, a UK company registered in England which is authorised and regulated in the conduct of investment business in the United Kingdom by the Financial Conduct Authority (‘FCA’) will provide access to its research materials. If the Client is any doubt about these terms he/she should contact his/her independent financial adviser immediately

The terms and conditions set below constitute the legally binding terms upon which Stockcube will permit its Clients to have access to, and use of, the research materials published on the restricted access pages of http://www.investorsintelligence.com// (the "Website") and any other Stockcube group website to which the Client is permitted, together with use of email and hard copy distributions and upon which they will provide the Client with such other related services as may from time to time be agreed.

Application to receive access to the restricted access pages of the Website may only be made on the terms set out in this Agreement. The Client will not be entitled to use such services until acceptance of this Agreement and receipt by the Client of a personal username and password.

Investors Intelligence is a brand name of the Stockcube Ltd group. The non-US services are compiled and distributed by Stockcube, a wholly-owned subsidiary of Stockcube Ltd. These services are all provided for information purposes only. Under no circumstances is the research content of this website ("the research") to be relied upon as constituting personal investment advice or construed as any offer to sell, or any solicitation of any offer to buy investments.

1. Services Stockcube provides research services on a wide range of financial instruments, which may vary from time to time. Stockcube’s services are provided for the sole use of residents of the United Kingdom. They should not be regarded as providing investment advice (as defined by Schedule 2 Part I of the Financial Services & Markets Act 2000) to Clients in any jurisdiction other than the United Kingdom. By entering into this agreement, any Client resident outside the United Kingdom represents and warrants that he/she does not contravene local or United Kingdom laws or regulations by using Stockcube’s services.

2. Commencement This Agreement comes into force as soon as it is received by the Client and shall apply in respect of all regulated activities carried on with or for the Client thereafter. By proceeding to the disclaimer page the Client is accepting these terms and conditions.

3. Regulation The non-US services are provided by Stockcube which is authorised and regulated by the FCA.

4. Classification Stockcube will treat its Clients as a retail client, as defined by the FCA’s Conduct of Business Sourcebook,

5. Risk Warning The research provided by Stockcube on the Website (and any other Stockcube website) is provided solely to enable Clients to make their own investment decisions and does not constitute personal investment recommendations. No recommendations are made directly or indirectly by Stockcube as to the merits or suitability of any investment decision or transaction which may result directly or indirectly from having viewed the investment research on the Website or having received it by email. Clients are therefore urged to seek independent financial advice if they are in any doubt. The value of investments and the income derived from them can go down as well as up, and the Client may not get back the full amount originally invested. Derivatives are particularly high risk, high reward investment instruments and an investor may lose some or all of his or her original investment. Also, if the Client decides to acquire any investment denominated in a currency different from the Client’s own the Client should note that changes in foreign exchange rates may have an adverse effect on the value, price and income of the investment in the Client’s own currency.None of the services provided as a result of this agreement constitutes a personal recommendation to invest from Stockcube and no service should be construed as such. For the avoidance of doubt, where the word “recommendation” is used elsewhere in these terms it does not refer to a personal recommendation, unless this is explicitly stated. The investments described by or in the services are not suitable for all investors. Clients who have any doubt about whether particular investments are suitable for them should contact an independent financial adviser.These services do not include personal investment recommendations from Stockcube and should not be construed as such. Stockcube may, at its discretion, provide information, advice, recommendations and research to Clients from time to time on its own initiative or advise Clients of other services available. Stockcube will be under no obligation to provide on-going advice in relation to financial instruments or management of Clients’ investments.

6. Communications Communications with Stockcube pursuant to this Agreement may be made by telephone +44 (0)20 7352 4001, fax +44 (0)20 7352 3185, e-mail or in writing to the address specified above or such other address or fax number as notified by it to Clients from time to time. Stockcube will assume that any instructions received which have been authenticated by Clients’ usernames and passwords, are genuine, valid instructions from Clients to it and it will act accordingly. All usernames and passwords must not be disclosed, nor be allowed to be disclosed, to third parties. Clients are strongly advised to change their passwords from time to time. Clients must contact Stockcube immediately if they suspect that their usernames or passwords has been disclosed to, or obtained by, a third party and that its integrity is threatened. Until such notification is received by Stockcube, it will assume that any instructions received in electronic form or over the telephone, which have been authenticated by Clients’ usernames and passwords, are genuine and valid instructions from Clients to them. Stockcube shall communicate with Clients, at the address last notified to them, by any of the above means unless they are required to communicate in writing either under this Agreement or in accordance with the rules of any regulatory authority.

7. Conflicts of Interests When Stockcube, its Connected Companies (as defined in the Glossary to the FCA’s Handbook of Rules and Guidance) or any other person connected with Stockcube provide investment advice services, they may from time to time have a material interest in the subject matter of the research, which may occur, for example, because they provide services to other customers who have interests in the same investments as those to which the research relates. In accordance with the rules of the FCA, employees and officers of Stockcube providing services to Clients under this Agreement are required to comply with an independence policy obliging them to disregard any material interest or conflict of interest, relationship or arrangement when making recommendations, except to the extent that the policy conflicts with any legal or regulatory obligations of Stockcube or its employee. From time to time Stockcube, a Connected Company and any other person connected with Stockcube may have positions in stock being recommended and may act upon, or otherwise use, any research recommendations available in the public domain, before they are published and obtainable by the Client or other customers of Stockcube.

8. Commissions and Charges Details of all charges (and commissions) payable to Stockcube in connection with the information and services are available from the Website.

9. Cancellations and Refunds policy Subscribers may cancel each service at any time within 14 days of the commencement of that service by giving notice to the Subscriptions Manager of Stockcube by fax or in writing. Stockcube will make a full refund of any subscription moneys received by Stockcube for that service. For this purpose, subscriptions commence on the date on which each service is first made available to the retail customer which may be earlier than the date on which payment is first required.In all other circumstances cancellations in respect of paid for services within the first 60 days of an annual service will be refunded at 66% and no refunds will be made for the monthly services or after 60 days of the annual service.

10. Copyright and User Registration The content of this website is protected by copyright and other intellectual property rights or similar rights which, unless indicated otherwise, are the property of Stockcube or another member of the group. Except for permission to download a single copy for personal use, the research published by Stockcube may not be reproduced, distributed or published in whole or in part by any recipient for any purpose, without their prior express written consent. Access to the restricted access pages of the Website is restricted to Clients personally and may not be shared with others. Whilst information extracted from the files on the Website may be used for personal research, any copying or distribution of such files in whole or in part is prohibited. Stockcube reserves the right to monitor all accounts to determine the number of files being accessed and the locations from which access is effected. It is expected that Clients will not access the Website from more than two different locations. Access from a greater number of different locations may give rise to enquiries by Stockcube and a review of Clients’ accounts. The research information compiled and published by Stockcube is the property of Stockcube and/or its licensors and may not be used except as authorised by or pursuant to this Agreement.

Financial Institutions wishing to use Stockcube material for onward distribution to its Clients must purchase a Professional User License. The license grants the user the right to extract charts and reasonable excerpts of information and analysis from the Website for onward distribution to bona fide customers and inclusion in in-house research reports. All charts, data and analysis must be fully accredited to Investors Intelligence, or Stockcube as appropriate. Please note, this license does not permit the forwarding of daily and weekly email reports or the reproduction of entire or substantially entire tracts of research or data tables. Stockcube reserves the right to withdraw this license subject to one week’s notice.

11. Default If the Client makes a default in or commit a breach of these Terms of Business and in particular fails to pay charges for services as they fall due or any other event occurs which in the opinion of Stockcube may jeopardise its position or that of the Stockcube group it may, without referring to the Client, take such action in relation to any service as it may, in its absolute discretion, consider necessary, desirable or expedient to comply with or to perform, cancel or satisfy any service or transaction or to protect such positions

12. Liability for Loss Stockcube shall not be liable for any direct or indirect, incidental or consequential loss or damage (including loss of profits, revenue or goodwill) arising from the use, inability to use, interruption or non-availability of the Website or any part of the research materials published on the Website or otherwise any loss of data on transmission, howsoever caused. Whilst the research material published on the Website is believed to be reliable and accurate, it is not independently verified. Accordingly, no representation or warranty is made or given by Stockcube, its officers, agents or employees as to the accuracy or completeness of the same and no such person shall have liability for any inaccuracy in, or omission from, such materials, save, however, that there shall not be excluded any liability for direct loss, costs or expenses caused by the wilful default, negligence or fraud of Stockcube or its employees. The installation and maintenance of all computer hardware, software and communications devices needed by the Client to access the restricted access pages of the Website are solely the Client’s responsibility. Disclaimers relating to Stockcube are without prejudice to any duty or liability Stockcube may have to the Client under the United Kingdom’s Financial Services and Markets Act 2000, any subordinate legislation and the FCA Rules.

13. Joint and Several Liability If a Client is a partnership, or is otherwise comprised of several persons, the liability and obligations of each such person under this Agreement shall be joint and several. In the event of default due to non-payment of fees this shall be deemed to have occurred in respect of all of such persons and Stockcube may exercise its rights set out in clause 15 without being required to give notice of such an event to any of the persons.

14. Disclosure of Information Whilst Stockcube will at all times protect its Clients’ confidentiality, it may be obliged to disclose information concerning the Client, its business or any transactions or investments which have been obtained in the course of the Client’s business relationship with them, when required or requested to do so under any relevant law or by any regulatory or governmental authority or by officials of exchanges or clearing houses. The Client irrevocably authorises Stockcube to make the disclosure of such information accordingly and without reference to the Client. The Client also hereby authorises the disclosure of such information to Connected Companies of Stockcube.

15. Amendment, Variation and Assignment Stockcube reserves its right to vary any of the terms of this Agreement either by written notice to Clients or by notice published on the Website describing the relevant changes. The variation shall take effect upon receipt by Clients of notice in writing or in the case of notification through the Website, on the first occasion thereafter upon which any attempt is made by a Client to access the research on the restricted access pages of the Website. Stockcube may assign all or any of its rights and obligations under this Agreement to another appropriate member of the Stockcube Group or any of their successors. This Agreement is personal to the subscriber, and Clients’ rights and obligations under this Agreement and any transactions entered into pursuant hereto, are not capable of assignment to a third party.

16. Authority, Consents, Compliances etc. A Client warrants and represents to Stockcube, if a natural person, that it is over the age of eighteen years. If a body corporate, partnership, unincorporated body or pension fund it warrants that it is by its memorandum and articles of association, deed of partnership, trust deed or other constitutional document, as the case may be, empowered (and has taken all necessary steps and obtained all licences, permissions, consents and approvals) to enter into this Agreement with Stockcube.

17. Non UK Laws By entering into this agreement, any Client resident outside the United Kingdom represents and warrants that he/she does not contravene non-United Kingdom laws or regulations by using Stockcube’s services.Accordingly, access to the other services on the Website is not open to persons resident in, or citizens of any territory outside the United Kingdom where, to allow such access, would require any registration, filing, application for any licence or approval or other steps to be taken by Stockcube in order to comply with local laws or other regulatory requirements in such overseas territory. In all cases it is the Client’s responsibility to be informed about applicable legal or other regulatory requirements in the territory in which the Client is resident or of which the Client is a citizen. By acceptance of this Agreement the Client represents and warrants that neither allowing the Client access to the Website nor the acceptance of this Agreement by the Client will infringe the laws or other regulatory requirements or impose upon Stockcube any obligations or duty which has not been performed, fulfilled or satisfied under the laws of any territory outside the United Kingdom in which the Client is so resident or of which the Client is a citizen. If the Client is in any doubt about its status or compliance with the laws and regulations of any applicable territory, it is recommended to the Client to take appropriate professional advice without delay.

18. Termination This Agreement between the Client and Stockcube may be terminated at any time with one day’s notice, by one party giving written notice to the other in accordance with the terms of this Agreement. Such notice shall be subject to any outstanding commissions or fees accruing to Stockcube (including any additional expenses incurred in connection with such termination) being paid. Stockcube will be entitled to terminate this Agreement if at any time a Client fails to make payment of any fees due and payable to them. Stockcube may terminate this Agreement without notice and with immediate effect on the terms referred to in the event that the Client shall at any time do anything to jeopardise the proper and efficient running of the Website or make or permit any unauthorised access to such Website. In the event of termination the Client will not be entitled to a refund of any subscription charges. Termination of this Agreement will not affect any outstanding order or transaction or any legal rights or obligations which may have already arisen and this Agreement shall continue to apply in respect thereto. Termination shall be without effect in relation to any warranties and representations made by the Client under this Agreement and clauses 10, 12 and 14 in particular shall survive any such termination and remaining full force and effect.

19. Further provisions (a) Entire Agreement: This Agreement and the Disclaimer document embody and set forth the entire Agreement and understanding between Stockcube and the Client with respect to the services to be provided herein. This Agreement supersedes all prior oral and written agreements, terms, understandings or arrangements relating to its subject matter. (b) Illegality: If at any time any of the provisions set out in this Agreement (in whole or in part) is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction (including the FCA Rules) and the rules and regulations of any regulatory authority neither the legality, validity or enforceability of the remainder of such clause or the remaining clauses of this Agreement nor the legality, validity or enforceability of such clause under the law of any other jurisdiction, shall in any way be affected or impaired. (c) Complaints: If a Client has any complaint about Stockcube’s services under this Agreement, it should write to Mark Glowrey, who will be responsible for ensuring that any complaints are investigated and resolved at Stockcube’s address set above. The Client may also complain directly to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 6SR. (d) Rights and Remedies: No failure or delay by Stockcube to exercise, in whole or in part, any rights under this Agreement or under any transaction shall constitute or be deemed to constitute a waiver of those rights upon that or any subsequent occasion. The rights and remedies herein are cumulative and not exclusive of any rights or remedies provided by law. No failure to exercise or delay in exercising the same shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof. The Client’s rights and obligations under these Terms of Business and any transactions entered into pursuant hereto are not capable of assignment.(e) Binding: This Agreement is binding upon the Client and its successors in title. (f) Time of Essence: Time shall be of the essence in relation to the payment of fees pursuant to this Agreement. (g) Force Majeure: Stockcube shall not be in breach of any of the provisions of this Agreement or held liable or responsible for total or partial failure of performance of its duties and obligations occasioned by any event or circumstance whatsoever not reasonably within its control. Stockcube shall have no liability or responsibility for any loss or damage incurred or suffered by the Client in the event of any breakdown, failure or malfunction of any telecommunications or computer services or systems. (h) Principal: The Client represents and warrants that it is acting as principal and not as agent or attorney for any other person. Stockcube shall not be bound to act in accordance with the instructions of any person other than the Client (but shall be entitled to act in accordance with all instructions given by the Client or purporting to be given by the Client) and its liabilities hereunder shall be fully discharged by it performing such in the Client’s favour.20. Governing Law: These Terms of Business shall be governed by and construed in accordance with the laws of England and Wales. In relation to any dispute, the Client irrevocably agrees to submit to the non-exclusive jurisdiction of the English courts.21. Financial Services Compensation Scheme: The United Kingdom’s Financial Services Compensation scheme exists for the purpose of compensating consumers when firms authorised by the FCA are unable, or likely to be unable, to satisfy claims against them. Stockcube is protected by this scheme. Provided that the claimant is (i) eligible to claim; (ii) the activity giving rise to the loss is protected by the scheme; and (iii) the claimant has assigned his/her rights to the scheme, the Client may be eligible for a payment of compensation. 22. Miscellaneous: References to a "person" include a reference to any natural person, firm, company, corporation, government, state or agency of a state or any association or partnership (whether or not having separate legal personality) or any one or more of the foregoing. "Business Day" means a day (other than Saturday or Sunday) on which bank premises are open for general business in London. "Connected Company" means (in relation to a body corporate):

(a) That body corporate’s holding company;
(b) A subsidiary of the body corporate;
(c) A subsidiary of the holding company of that body corporate.

 

Disclaimer – non-US services

By logging in the Client agrees to be bound by the standard Terms of Business of Stockcube Research Limited (‘Stockcube’). By means of the Client’s login to these services the Client is deemed to thereby accept the current Terms of Business including the notice below. If the Client does not wish to accept these current Terms of Business and the notice below, the Client should quit this website immediately. Investors Intelligence is a brand name of the Stockcube Ltd group. The non-US services are compiled and distributed by Stockcube which is regulated for the conduct of investment business in the United Kingdom by the Financial Conduct Authority (‘FCA’). In all cases they are provided for information purposes only. Under no circumstances is the research content of this website ("the Research") to be relied upon as constituting personal investment advice or construed as any offer to sell, or any solicitation of any offer to buy investments. None of the services provided as a result of this agreement constitutes a personal recommendation to invest and no service should be construed as such. For the avoidance of doubt, where the word “recommendation” is used elsewhere on the website or in email correspondence it does not refer to a personal recommendation, unless this is explicitly stated. The investments described by or in the services are not suitable for all investors. Clients who have any doubt about whether particular investments are suitable for them should contact an independent financial adviser.The research provided by Stockcube on the Website (and any other Stockcube website) is provided solely to enable Clients to make their own investment decisions and does not constitute personal investment recommendations. No recommendations are made directly or indirectly by Stockcube as to the merits or suitability of any investment decision or transaction which may result directly or indirectly from having viewed the investment research on the Website or having received it by email. The Client is therefore urged to seek independent financial advice if he/she is in any doubt. The value of investments and the income derived from them can go down as well as up, and the Client may not get back the full amount originally invested. Derivatives in particular are high risk investment instruments which carry a contingent liability, the value of which may be affected by a greater proportion than the change in the value of the underlying investment or asset. If the Client decides to acquire any investment denominated in a currency different from the Client’s own the Client should note that changes in foreign exchange rates may have an adverse effect on the value, price and income of the investment in the Client’s own currency.Stockcube’s research is provided for the sole use of residents of the United Kingdom. It should not be regarded as providing investment advice (as defined by Schedule 2 Part I of the Financial Services & Markets Act 2000) to any person in any jurisdiction other than the United Kingdom. Any persons resident outside the United Kingdom should make sure that they do not contravene local or UK laws or regulations before using this service.Access to the other services on the Website is not open to persons resident in, or citizens of any territory outside the United Kingdom where, to allow such access, would require any registration, filing, application for any licence or approval or other steps to be taken by Stockcube in order to comply with local laws or other regulatory requirements in such overseas territory. In all cases it is the Client’s responsibility to be informed about applicable legal or other regulatory requirements in the territory in which the Client is resident or of which the Client is a citizen. By acceptance of this Agreement the Client represents and warrants that neither allowing the Client access to the Website nor the acceptance of this Agreement by the Client will infringe the laws or other regulatory requirements or impose upon Stockcube any obligations or duty which has not been performed, fulfilled or satisfied under the laws of any territory the United Kingdom in which the Client is so resident or of which the Client is a citizen. If the Client is in any doubt about its status or compliance with the laws and regulations of any applicable territory, it is recommended to the Client to take appropriate professional advice without delay.While all reasonable care has been taken to ensure that the research published by is not untrue or misleading at the time of publication, neither Stockcube nor its officers or employees make any representation or warranty as to the accuracy or completeness of such materials. No liability is accepted for any loss whether direct or indirect, incidental or consequential, arising out of any of the research not being true and accurate except to the extent caused by the wilful default or gross negligence of Stockcube or its employees or which arises under the United Kingdom Financial Services and Markets Act 2000. All research on the Stockcube Ltd group (the “group”) websites is believed to be up-to-date at the time it is posted, but is subject to variation without notice. Stockcube may, at its discretion, provide information, advice, recommendations and research to Clients from time to time on its own initiative or advise Clients of other services available. It will be under no obligation to provide on-going advice in relation to financial instruments or management of Clients’ investments.From time to time Stockcube and any of its officers or employees may, to the extent permitted by law, have a position or otherwise be interested in any transactions in investments (including derivatives) directly or indirectly the subject of its research. Also Stockcube may from time to time provide other services (including acting as adviser) to any company mentioned in its research. The content of this website is protected by copyright and other intellectual property rights or similar rights which, unless indicated otherwise, are the property of Stockcube or another member of the group. Except for permission to download a single copy for personal use, the research published by Stockcube may not be reproduced, distributed or published in whole or in part by any recipient for any purpose, without its prior express written consent. Whilst certain software may be made available to the Client from time to time at the Stockcube website, the Client is licensed to use such software on a non-exclusive basis only for the purposes specified. The Client is not permitted to use such software for any other purposes and may not redistribute, sell, decompile, reverse engineer, disassemble or otherwise deal with such software. The "Investors Intelligence”, “Chartcraft” and "Stockcube" names and other trade marks and logos appearing on the Stockcube website are, unless indicated otherwise, the trade marks of the group. All intellectual property rights in and to the same site are expressly reserved to the group or (as the case may be) the organisation which has licensed the group to reproduce the same and accordingly none of the trade marks may be reproduced by the Client without the express prior consent of the group.

Stockcube may from time to time send the Client promotional and other information about its products or services. In addition, Stockcube may pass on the Client’s name to carefully selected third parties who may contact the Client with similar or related information. If the Client would rather not receive the above information should contact us.

This website is hosted in the United Kingdom and compiled in order to comply with English law. All visits to this website are subject to and governed in accordance with English law. This website is ©2000-2013 Stockcube Ltd. All rights reserved.


Terms of Business – US Stocks service, ETF service, Coe Report, Market Timing and Advisors Sentiment service

These Terms of Business contain important information regarding the way in which Chartcraft Inc (“Chartcraft”), of 68 Walnut Rd, Louisa, VA 23093, USA, a US company registered in the State of New York, USA, will provide access to its research materials. If the Client is any doubt about these terms he/she should contact his/her independent financial adviser immediatelyThe terms and conditions set below constitute the legally binding terms upon which Chartcraft will permit its Clients to have access to, and use of, the research materials published on the restricted access pages of http://www.investorsintelligence.com// (the "Website") and any other Stockcube Ltd group website to which the Client is permitted, together with use of email and hard copy distributions and upon which it will provide the Client with such other related services as may from time to time be agreed. Application to receive access to the restricted access pages of the Website may only be made on the terms set out in this Agreement. The Client will not be entitled to use such services until acceptance of this Agreement and receipt by the Client of a personal username and password. Investors Intelligence is a brand name of the Stockcube Ltd group. These services are compiled and distributed by Chartcraft, a wholly-owned subsidiary of Stockcube Ltd and are provided for information purposes only. Under no circumstances is the research content of this website ("the Research") to be relied upon as constituting personal investment advice or construed as any offer to sell, or any solicitation of any offer to buy investments.

1. Services Chartcraft may provide research on the following investments on the Website, by e-mail or hardcopy:

(a) Shares or other participations in United States and foreign companies and mutual funds, exchange traded funds and ishares;

(b) Debenture stock, loan stock, bonds, notes, certificates of deposit, commercial paper and other debt instruments, including government, public agency, municipal and corporate issues;

(c) Warrants to subscribe for investments falling within (a) or (b);

(d) Depository receipts or other types of instrument relating to investments falling within (a), (b) or (c);

(e) Options on investments falling within (a), (b) or (c) provided the related transaction has no contingent liability;

(f) Options on investments falling within (a), (b) or (c) including options on an option;

(g) Futures on investments falling within (a), (b) or (c);.

Chartcraft’s services are provided for the sole use of residents of the United States of America. They should not be regarded as providing investment advice in any jurisdiction other than the United States. By entering into this agreement, any Client resident outside the United States represents and warrants that he/she does not contravene local or United States laws or regulations by using Chartcraft’s services.

2. Commencement This Agreement comes into force as soon as it is received by the Client and shall apply in respect of all regulated activities carried on with or for the Client thereafter. By proceeding to the disclaimer page the Client is accepting these terms and conditions.

3. Regulation The US Stock Service, The ETF Report, Coe Report, Advisors Sentiment and the US Market Timing service are provided by Chartcraft Inc, which is not a regulated business.

4. Classification Chartcraft does not classify its Clients for regulatory purposes. If in any dealings Chartcraft may have with the Client, the Client is acting as agent for any other person, Chartcraft will treat the Client as its customer, even where the principal has been identified to Chartcraft. An identified principal will not be classified as Chartcraft’s customer unless specifically agreed between the parties. The Client represents and warrants that it is acting as principal and not as agent or attorney for any other person. Chartcraft shall not be bound to act in accordance with the instructions of any person other than the Client (but shall be entitled to act in accordance with all instructions given by the Client or purporting to be given by the Client) and Chartcraft’s liabilities hereunder shall be fully discharged by Chartcraft performing such in the Client’s favor. In the case of joint Clients we shall not be bound to act except in accordance with instructions given or purported to be given on behalf of each Client, or in the case of death, the survivors or sole survivor of such joint Clients.

5. Risk Warning The research provided by Chartcraft on the Website (and any other Stockcube website) is provided solely to enable Clients to make their own investment decisions and does not constitute personal investment recommendations. No recommendations are made directly or indirectly by Chartcraft as to the merits or suitability of any investment decision or transaction which may result directly or indirectly from having viewed the investment research on the Website or having received it by email. Clients are therefore urged to seek independent financial advice if they are in any doubt. The value of investments and the income derived from them can go down as well as up, and the Client may not get back the full amount originally invested. Derivatives are particularly high risk, high reward investment instruments and an investor may lose some or all of his or her original investment. Also, if the Client decides to acquire any investment denominated in a currency different from the Client’s own the Client should note that changes in foreign exchange rates may have an adverse effect on the value, price and income of the investment in the Client’s own currency.None of the services provided as a result of this agreement constitutes a personal recommendation to invest and no service should be construed as such. For the avoidance of doubt, where the word “recommendation” is used elsewhere in these terms it does not refer to a personal recommendation, unless this is explicitly stated. The investments described by or in the services are not suitable for all investors. Clients who have any doubt about whether particular investments are suitable for them should contact an independent financial adviser.These services do not include personal investment recommendations from Chartcraft and should not be construed as such. Chartcraft may, at its discretion, provide information, advice, recommendations and research to Clients from time to time on their own initiative or advise Clients of other services available. They will not be under any obligation to provide on-going advice in relation to financial instruments or management of Clients’ investments.

6. Communications Communications with Chartcraft pursuant to this Agreement may be made by telephone (001) 914-632-0422, fax (001) 914-632-0335 , e-mail or in writing to the address specified above or such other addresses or fax numbers as notified by it to Clients from time to time. Chartcraft will assume that any instructions received which have been authenticated by Clients’ usernames and passwords, are genuine, valid instructions from Clients to them and they will act accordingly. All usernames and passwords must not be disclosed, nor be allowed to be disclosed, to third parties. Clients are strongly advised to change their passwords from time to time. Clients must contact Chartcraft immediately if they suspect that their usernames or passwords has been disclosed to, or obtained by, a third party and that its integrity is threatened. Until such notification is received by Chartcraft, it will assume that any instructions received in electronic form, or over the telephone, which have been authenticated by Clients’ usernames and passwords, are genuine and valid instructions from Clients to it. Chartcraft shall communicate with Clients, at the address last notified to it, by any of the above means unless it is required to communicate in writing either under this Agreement or in accordance with the rules of any regulatory authority.

7. Conflicts of Interests When Chartcraft provides investment advice services, it may from time to time have a material interest in the subject matter of the research, which may occur, for example, because it provides services to other customers who have interests in the same investments as those to which the research relates. From time to time officers or employees of Chartcraft may, to the extent permitted by law, have a position or otherwise be interested in transactions in investments (including derivatives) directly or indirectly the subject of Chartcraft’s reports and may act upon or otherwise use any research recommendations before they are published and obtainable by the Client or other customers of Chartcraft. Also Chartcraft may from time to time provide other services (including acting as adviser) to any company mentioned in its research.

8. Commissions and Charges Details of all charges (and commissions) payable to Chartcraft in connection with the information and services are available from the Website.

9. Cancellations and Refunds policy Cancellations in respect of paid for services within the first 60 days of an annual service will be refunded at 66% and no refunds will be made for the monthly services or after 60 days of the annual service.

10. Copyright and User Registration The content of this website is protected by copyright and other intellectual property rights or similar rights which, unless indicated otherwise, are the property of Chartcraft or another member of group. Except for permission to download a single copy for personal use, the research published by Chartcraft may not be reproduced, distributed or published in whole or in part by any recipient for any purpose, without their prior express written consent. Access to the restricted access pages of the Website is restricted to Clients personally and may not be shared with others. Whilst information extracted from the files on the Website may be used for personal research, any copying or distribution of such files in whole or in part is prohibited. Chartcraft reserves the right to monitor all accounts to determine the number of files being accessed and the locations from which access is effected. It is expected that Clients will not access the Website from more than two different locations. Access from a greater number of different locations may give rise to enquiries by Chartcraft and a review of Clients’ accounts. The research information compiled and published by Chartcraft is the property of Chartcraft and/or their licensors and may not be used except as authorised by or pursuant to this Agreement. Financial Institutions wishing to use Chartcraft material for onward distribution to their Clients must purchase a Professional User License. The license grants the user the right to extract charts and reasonable excerpts of information and analysis from the Website for onward distribution to bona fide customers and inclusion in in-house research reports. All charts, data and analysis must be fully accredited to Investors Intelligence or Chartcraft as appropriate. Please note, this license does not permit the forwarding of daily and weekly email reports or the reproduction of entire or substantially entire tracts of research or data tables. Chartcraft reserves the right to withdraw this license subject to one week’s notice.

11. Default If the Client makes a default in or commit a breach of these Terms of Business and in particular fails to pay charges for services as they fall due or any other event occurs which in the opinion of Chartcraft may jeopardise its position or that of the Stockcube group it may, without referring to the Client, take such action in relation to any service as it may, in its absolute discretion, consider necessary, desirable or expedient to comply with or to perform, cancel or satisfy any service or transaction or to protect such positions

12. Liability for Loss Chartcraft shall not be liable for any direct or indirect, incidental or consequential loss or damage (including loss of profits, revenue or goodwill) arising from the use, inability to use, interruption or non-availability of the Website or any part of the research materials published on the Website or otherwise any loss of data on transmission, howsoever caused. Whilst the research material published on the Website is believed to be reliable and accurate, it is not independently verified. Accordingly, no representation or warranty is made or given by Chartcraft, its officers, agents or employees as to the accuracy or completeness of the same and no such person shall have liability for any inaccuracy in, or omission from, such materials, save, however, that there shall not be excluded any liability for direct loss, costs or expenses caused by the wilful default, negligence or fraud of Chartcraft or its employees. The installation and maintenance of all computer hardware, software and communications devices needed by the Client to access the restricted access pages of the Website are solely the Client’s responsibility.

13. Joint and Several Liability If a Client is a partnership, or is otherwise comprised of several persons, the liability and obligations of each such person under this Agreement shall be joint and several. In the event of default due to non-payment of fees this shall be deemed to have occurred in respect of all of such persons and Chartcraft may exercise its rights set out in clause 15 without being required to give notice of such an event to any of the persons.

14. Disclosure of Information Whilst Chartcraft will at all times protect its Clients’ confidentiality, it may be obliged to disclose information concerning the Client, its business or any transactions or investments which have been obtained in the course of the Client’s business relationship with them, when required or requested to do so under any relevant law or by any regulatory or governmental authority or by officials of exchanges or clearing houses. The Client irrevocably authorises Chartcraft to make the disclosure of such information accordingly and without reference to the Client. The Client also hereby authorises the disclosure of such information to Connected Companies of Chartcraft.

15. Amendment, Variation and Assignment Chartcraft reserves its rights to vary any of the terms of this Agreement either by written notice to Clients or by notice published on the Website describing the relevant changes. The variation shall take effect upon receipt by Clients of notice in writing or in the case of notification through the Website, on the first occasion thereafter upon which any attempt is made by a Client to access the research on the restricted access pages of the Website. Chartcraft may assign all or any of its rights and obligations under this Agreement to another appropriate member of the Stockcube Group or any of their successors. This Agreement is personal to the subscriber, and Clients’ rights and obligations under this Agreement and any transactions entered into pursuant hereto, are not capable of assignment to third parties.

16. Authority, Consents, Compliances etc. A Client warrants and represents to Chartcraft, if a natural person, that it is over the age of eighteen years. If a body corporate, partnership, unincorporated body or pension fund it warrants that it is by its memorandum and articles of association, deed of partnership, trust deed or other constitutional document, as the case may be, empowered (and has taken all necessary steps and obtained all licences, permissions, consents and approvals) to enter into this Agreement with Chartcraft

17. Foreign Laws Access to the US Stock Service and US Market Timing service of Chartcraft is not open to persons resident in, or citizens of any territory outside the United States where, to allow such access, would require any registration, filing, application for any licence or approval or other steps to be taken by Chartcraft in order to comply with local laws or other regulatory requirements in such overseas territory. In all cases it is the Client’s responsibility to be informed about applicable legal or other regulatory requirements in the territory in which the Client is resident or of which the Client is a citizen. By acceptance of this Agreement the Client represents and warrants that neither allowing the Client access to the Website nor the acceptance of this Agreement by the Client will infringe the laws or other regulatory requirements or impose upon Chartcraft any obligations or duty which has not been performed, fulfilled or satisfied under the laws of any territory outside the United States in which the Client is so resident or of which the Client is a citizen. If the Client is in any doubt about its status or compliance with the laws and regulations of any applicable territory, it is recommended to the Client to take appropriate professional advice without delay.

18. Termination This Agreement between the Client and Chartcraft may be terminated at any time with one day’s notice, by one party giving written notice to the other in accordance with the terms of this Agreement. Such notice shall be subject to any outstanding commissions or fees accruing to Chartcraft (including any additional expenses incurred in connection with such termination) being paid. Chartcraft will be entitled to terminate this Agreement if at any time a Client fails to make payment of any fees due and payable to it. Chartcraft may terminate this Agreement without notice and with immediate effect on the terms referred to in the event that the Client shall at any time do anything to jeopardise the proper and efficient running of the Website or make or permit any unauthorised access to such Website. In the event of termination the Client will not be entitled to a refund of any subscription charges. Termination of this Agreement will not affect any outstanding order or transaction or any legal rights or obligations which may have already arisen and this Agreement shall continue to apply in respect thereto. Termination shall be without effect in relation to any warranties and representations made by the Client under this Agreement and clauses 10, 12 and 14 in particular shall survive any such termination and remaining full force and effect.

19. Further provisions

(a) Entire Agreement This Agreement and the Disclaimer document embody and set forth the entire Agreement and understanding between Chartcraft and the Client with respect to the services to be provided herein. This Agreement supersedes all prior oral and written agreements, terms, understandings or arrangements relating to its subject matter.

(b) Illegality If at any time any of the provisions set out in this Agreement (in whole or in part) is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction and the rules and regulations of any regulatory authority neither the legality, validity or enforceability of the remainder of such clause or the remaining clauses of this Agreement nor the legality, validity or enforceability of such clause under the law of any other jurisdiction, shall in any way be affected or impaired.

(c) Complaints If a Client has any complaint about Chartcraft’s services under this Agreement it should write to John Gray at Chartcraft’s address set out above.

(d) Rights and Remedies No failure or delay by Chartcraft to exercise, in whole or in part, any rights under this Agreement or under any transaction shall constitute or be deemed to constitute a waiver of those rights upon that or any subsequent occasion. The rights and remedies herein are cumulative and not exclusive of any rights or remedies provided by law. No failure to exercise or delay in exercising the same shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof. The Client’s rights and obligations under these Terms of Business and any transactions entered into pursuant hereto are not capable of assignment.

(e) Binding This Agreement is binding upon the Client and its successors in title.

(f) Time of Essence Time shall be of the essence in relation to the payment of fees pursuant to this Agreement.

(g) Force Majeure Chartcraft shall not be in breach of any of the provisions of this Agreement or held liable or responsible for total or partial failure of performance of its duties and obligations occasioned by any event or circumstance whatsoever not reasonably within its control, including, without limitation, acts of God, fire, acts of government or state, any acts or regulations of any governmental or supranational bodies or authorities, strike, lock-out or other form of industrial action, war, civil commotion, insurrection, embargo, failure of any computer system, prevention from or hindrance in obtaining any raw materials, energy or other supplies, labour disputes of whatever nature or any other reason (whether or not similar in kind to any of the above), or acts of terrorism. Chartcraft shall not have any liability or responsibility for any loss or damage incurred or suffered by the Client in the event of any breakdown, failure or malfunction of any telecommunications or computer services or systems. (h) PrincipalThe Client represents and warrants that it is acting as principal and not as agent or attorney for any other person. Chartcraft shall not be bound to act in accordance with the instructions of any person other than the Client (but shall be entitled to act in accordance with all instructions given by the Client or purporting to be given by the Client) and their liabilities hereunder shall be fully discharged by them performing such in the Client’s favor.

20. Governing Law These Terms of Business shall be governed by and construed in accordance with the laws of the United States of America. In relation to any dispute the Client for these services irrevocably agrees to the non-exclusive jurisdiction of the Supreme Court of Justice of America.

21. Miscellaneous References to a "person" include a reference to any natural person, firm, company, corporation, government, state or agency of a state or any association or partnership (whether or not having separate legal personality) or any one or more of the foregoing. "Business Day" means a day (other than Saturday or Sunday) on which bank premises are open for general business in New York. "Connected Company" means (in relation to a body corporate):
(a) That body corporate’s holding company;
(b) A subsidiary of the body corporate;
(c) A subsidiary of the holding company of that body corporate.Disclaimer – US Stock Service & Market Timing serviceBy logging in the Client agrees to be bound by the standard Terms of Business of Chartcraft Inc (‘Chartcraft’) . By means of the Client’s login to these services the Client is deemed to thereby accept the current Terms of Business including the notice below. If the Client does not wish to accept these current Terms of Business and the notice below, the Client should quit this website immediately. Investors Intelligence is a brand name of the Stockcube Ltd group. The US Stock Service and the US Market Timing service are compiled and distributed by Chartcraft, a US company registered in the State of New York, USA. In all cases they are provided for information purposes only. Under no circumstances is the research content of this website ("the Research") to be relied upon as constituting personal investment advice or construed as any offer to sell, or any solicitation of any offer to buy investments. None of the services provided as a result of this agreement constitutes a personal recommendation to invest from Chartcraft and no service should be construed as such. For the avoidance of doubt, where the word “recommendation” is used elsewhere on the website or in email correspondence it does not refer to a personal recommendation, unless this is explicitly stated. The investments described by or in the services are not suitable for all investors. Clients who have any doubt about whether particular investments are suitable for them should contact an independent financial adviser.The research provided by Chartcraft on the Website (and any other Stockcube website) is provided solely to enable Clients to make their own investment decisions and does not constitute personal investment recommendations. No recommendations are made directly or indirectly by Chartcraft as to the merits or suitability of any investment decision or transaction which may result directly or indirectly from having viewed the investment research on the Website or having received it by email. The Client is therefore urged to seek independent financial advice if he/she is in any doubt. The value of investments and the income derived from them can go down as well as up, and the Client may not get back the full amount originally invested. Derivatives in particular are high risk investment instruments which carry a contingent liability, the value of which may be affected by a greater proportion than the change in the value of the underlying investment or asset. If the Client decides to acquire any investment denominated in a currency different from the Client’s own the Client should note that changes in foreign exchange rates may have an adverse effect on the value, price and income of the investment in the Client’s own currency.Chartcraft’s research is provided for the sole use of residents of the United States and should not be regarded as providing investment advice to any person outside the United States, in particular to any person in the United Kingdom or EEA, whether as defined by Schedule 2 Part I of the UK Financial Services & Markets Act 2000 or otherwise. Any persons resident outside the United States should make sure that they do not contravene local or US laws or regulations before using this service. Access to the US Stock Service and US Market Timing service of Chartcraft is not open to persons resident in, or citizens of any territory outside the United States where, to allow such access, would require any registration, filing, application for any licence or approval or other steps to be taken by Chartcraft in order to comply with local laws or other regulatory requirements in such overseas territory.In all cases it is the Client’s responsibility to be informed about applicable legal or other regulatory requirements in the territory in which the Client is resident or of which the Client is a citizen. By acceptance of this Agreement the Client represents and warrants that neither allowing the Client access to the Website nor the acceptance of this Agreement by the Client will infringe the laws or other regulatory requirements or impose upon Chartcraft any obligations or duty which has not been performed, fulfilled or satisfied under the laws of any territory outside the United States in which the Client is so resident or of which the Client is a citizen. If the Client is in any doubt about its status or compliance with the laws and regulations of any applicable territory, it is recommended to the Client to take appropriate professional advice without delay.While all reasonable care has been taken to ensure that the research published by Chartcraft is not untrue or misleading at the time of publication, neither Chartcraft nor their officers or employees make any representation or warranty as to the accuracy or completeness of such materials. No liability is accepted for any loss whether direct or indirect, incidental or consequential, arising out of any of the research not being true and accurate except to the extent caused by the wilful default or gross negligence of Chartcraft or its employees. All research on the Stockcube Ltd group (the “group”) websites is believed to be up-to-date at the time it is posted, but is subject to variation without notice. Chartcraft may, at its discretion, provide information, advice, recommendations and research to Clients from time to time on its own initiative or advise Clients of other services available. It will not be under any obligation to provide on-going advice in relation to financial instruments or management of Clients’ investments.From time to time, Chartcraft and any of its officers or employees may, to the extent permitted by law, have a position or otherwise be interested in any transactions in investments (including derivatives) directly or indirectly the subject of their research. Chartcraft may from time to time provide other services (including acting as adviser) to any company mentioned in its research. The content of this website is protected by copyright and other intellectual property rights or similar rights which, unless indicated otherwise, are the property of Chartcraft or another member of the group. Except for permission to download a single copy for personal use, the research published by Chartcraft may not be reproduced, distributed or published in whole or in part by any recipient for any purpose, without its prior express written consent. Whilst certain software may be made available to the Client from time to time at the Stockcube website, the Client is licensed to use such software on a non-exclusive basis only for the purposes specified. The Client is not permitted to use such software for any other purposes and may not redistribute, sell, decompile, reverse engineer, disassemble or otherwise deal with such software. The "Investors Intelligence”, “Chartcraft” and "Stockcube" names and other trade marks and logos appearing on the Stockcube website are, unless indicated otherwise, the trade marks of the group. All intellectual property rights in and to the same site are expressly reserved to the group or (as the case may be) the organisation which has licensed the group to reproduce the same and accordingly none of the trade marks may be reproduced by the Client without the express prior consent of the group. Chartcraft may from time to time send the Client promotional and other information about its products or services. In addition, Chartcraft may pass on the Client’s name to carefully selected third parties who may contact the Client with similar or related information. If the Client would rather not receive the above information either telephone or email John Gray at Chartcraft. This website is hosted in the United Kingdom and compiled in order to comply with English law. All visits to this website are subject to and governed in accordance with English law.

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