Terms and Conditions

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Please read the General Terms and Conditions (GTC) and the legal and risk information carefully before using the services of Bavest Technologies GmbH. The legal and risk notices form an integral part of the terms and conditions.

By registering, you accept the GTC, the legal and risk information and the privacy policy as binding for you.

I. General part

1. Area of coverage
The following General Terms and Conditions (hereinafter "GTC") govern the contractual relationship between Bavest Technologies GmbH, with its registered office in Karslruhe, Germany, registered in the Commercial Register of the Local Court of Mannheim, Germany, under HRB 733874 (hereinafter "Bavest" or "We") and the user:s (hereinafter "User" or "You") with regard to the use of the websites and mobile applications (together hereinafter "Platform") including chargeable functions or services as well as subscriptions. Bavest is responsible for the operation of the Platform. The use of the Platform does not establish any contractual relationship with Bavest beyond these GTC. These GTC shall also apply if the Platform is used or accessed from outside the Federal Republic of Germany, also irrespective of the nationality of the User.

2. Subject matter of the contract and right of use
Bavest provides Users with stock exchange and economic information, quotes, prices, indices, general market data, news, valuations and assessments about securities, issuers and financial markets as well as other information (hereinafter "Content") on the Platform. The Content contained on the platform serves exclusively to inform users and is not a substitute for personal advice. Registered users can link their securities accounts ("Securities Accounts") with a custodian bank or a securities broker ("Broker") to the platform. After successful linking, users will receive an overview of their securities accounts ("Portfolio"). The terms of use of the Portfolio function are regulated in more detail below. The content contained on the Platform is directed exclusively at persons who have their permanent residence or place of business in the Federal Republic of Germany or in jurisdictions in which the publication of or access to the Platform is legally permissible and not prohibited. Persons affected by such legal prohibitions of access or use are expressly prohibited from using the platform. Any liability for possible damages in connection with an unauthorized use of the platform and the content contained therein is excluded.

3. No investment advice or investment brokerage

The content on the platform does not constitute investment advice or recommendations and is not an offer to buy or sell financial instruments or other investment products. The content is also not an advertisement for financial instruments or other investment products. Investors should themselves or together with an investment advisor obtain a picture of their own risk tolerance and capacity, their own investment horizon and their own investment goals.

4. Sentiment analysis

Sentiment analysis is used to assess the mood of investors and make it comprehensible. With the help of sentiment indicators, it is not the companies and their economic data that are analyzed, but rather the specific behavior of investors. Sentiment indicators can be analyzed and interpreted in many different ways. These indicators cannot offer firm conclusions for or against an investment decision. They do not represent a forecast of the occurrence of a certain future performance of the securities and are also not investment advice or recommendation, nor a rating in the sense of the EU rating regulation. No securities can be purchased or sold via the platform. Therefore, Bavest does not offer any investment brokerage.

5. No guarantee for information

Bavest obtains some of the content provided on the Platform, e.g. price data, indices and prices, from external data providers. Despite careful procurement and provision, Bavest does not assume any liability for the accuracy, completeness and timeliness of the content provided. The respective providers and operators are solely responsible for the content of external content, e.g. linked pages of third parties. Bavest shall not be liable for any damages or losses incurred by the user directly or as consequential damages from the use of the content provided. This limitation of liability shall not apply if the incorrectness is due to gross negligence or intentional conduct on the part of Bavest or its vicarious agents. We get some of the data from Financial Modeling Prep API, and we calculate a large portion ourselves.

6. Time-shifted information
Price information may be displayed with different time delays, e.g. approx. 10-20 minutes, depending on the selected trading venue and type of security. The price and market information is provided by Bavest's technical service providers as well as independent data providers.

7. Risks of securities transactions
Investments in securities and financial products are associated with risks and may lead not only to profits but also to substantial losses of the capital invested. More detailed information on possible risks is set out in the legal and risk information, which forms an integral part of these GTC.

8. Right of withdrawal
If you conclude the contract as a consumer, you have the following statutory right of withdrawal:

II. Special Section

1. Registration and conclusion of contract
The prerequisite for the use of the contents as well as the chargeable functions of the platform is the successful registration on the platform. Upon completion of the registration, a contract of use between the User and Bavest shall be concluded. By registering, the User confirms that he/she has taken note of the GTC, the privacy policy and the risk information and that he/she accepts or agrees to them. There shall be no legal claim to the opening of a user account. Bavest reserves the right to refuse the conclusion of a contract in individual cases without giving reasons. If the user is a company in the sense of § 14 BGB (German Civil Code), the user shall be obliged to register personally or through an authorized representative. It is expressly forbidden to register a user account for third parties without their consent. The information required for registration must be provided completely and correctly. Any changes to the data provided must be notified or updated by the user without delay.

2. Portfolio-Feature
Individual services of Bavest, such as the linking of securities accounts at a broker with the platform and the use of individual portfolio functions (hereinafter "Portfolio Function") may be subject to a fee. There is no legal claim to the use, permanent availability or a specific function on the Platform, in particular in connection with the Portfolio Function. Bavest reserves the right to change or terminate individual functions and/or the use of the Portfolio Function at any time and without giving reasons, in particular in case of an unauthorized connection of a third party portfolio.

The brokers that allow a connection of customer securities accounts with the platform are displayed on the platform. The availability of a broker depends significantly on the technical requirements for the custody account connection and the willingness of the broker to transmit custody account information of the custody account client to finAPI for the use of the portfolio function. Bavest assumes no responsibility or liability for the continued availability of brokers. Bavest expressly reserves the right to add or remove Brokers from the list of available Brokers at any time. If a Broker is removed, your securities account will also be automatically removed from the Portfolio feature, making current securities account information unavailable through the Platform feature.

The prerequisite for the use of the Portfolio Usage is the conclusion of a separate usage agreement with our service provider finAPI GmbH, Adams-Lehmann-Straße 44, 80797 Munich ("finAPI"), which provides account information services and payment initiation services within the meaning of the German Payment Services Supervision Act ("ZAG") and is supervised by the German Federal Financial Supervisory Authority ("BaFin"). The usage agreement with finAPI ("finAPI Usage Agreement") is technically mediated by Bavest via a forwarding function, but is concluded exclusively between finAPI and the User. Bavest is not a party to the finAPI User Agreement.

Bavest itself does not provide account information services within the meaning of the ZAG, is not an account information service provider and is not subject to supervision by BaFin.

The finAPI user agreement enables the connection of third-party bank accounts or securities accounts of the users. Based on the finAPI user agreement, finAPI retrieves securities account information directly from the user's securities account and displays it on the platform. The user receives an overview of one or more securities accounts linked to the platform. The user can also view the total value of the portfolio, the performance of the overall portfolio or individual financial securities, and retrieve additional information.

The User authorizes Bavest to access custody account information at finAPI to the extent necessary for the Portfolio Function. Bavest is authorized to transmit this authorization to finAPI on behalf of the user. Bavest shall at no time have access to securities accounts or securities account access data of users and shall only access such securities account information that is stored at finAPI.

No securities transactions can be made or orders placed with a broker via the portfolio function. Users may only link their own securities accounts to the platform. Third-party securities accounts may not be linked to the portfolio. Joint securities accounts may only be linked with the express consent of the other securities account holder. Bavest reserves the right to refuse the linking of a securities account at any time without giving reasons. Individual or all securities accounts linked to the platform may be removed and also added again by the User at any time.

Bavest is not responsible for the services provided by finAPI in accordance with the finAPI User Agreement. Bavest shall not be liable for any acts or omissions by finAPI and shall not be liable for any damages that may result therefrom. Bavest is not responsible for the processing of users' personal data by finAPI. After each session, you should log out of your user account on the Platform to avoid or reduce the risk of unauthorized access to your deposit information.

Bavest assumes no responsibility and shall not be liable for the quality, accuracy, timeliness, availability and completeness of the Custody Information and other information displayed in connection with the use of the Portfolio Function or otherwise on the Platform.

3. Information on financial analyses

The content on the platform does not constitute investment recommendations or investment strategy recommendations ("financial analysis") within the meaning of Section 85 of the German Securities Trading Act (WpHG) or Delegated Regulation (EU) 2017/565, unless expressly marked as such.

Insofar as it is a financial analysis in an individual case, the information contained therein cannot be construed as an offer to buy, sell or solicit the purchase or sale of investments. They are merely intended to facilitate the customer's independent investment decision and are not a substitute for investor- and investment-appropriate advice. The quoted analyst recommendations as well as their assessment and evaluations reflect the opinion of the respective author at the time of preparation and elaboration. They are not reviewed or evaluated by Bavest. You should always consult an independent, knowledgeable investment advisor to review the recommendations contained in the financial analyses.

The financial analyses are confidential and are only made available to registered users. It is not permitted to pass on our financial analyses to persons other than the intended recipients without our consent. Reproduction in whole or in part without Bavest's consent is prohibited.

The financial analyses are based on publicly available sources (such as Bloomberg, Reuters and the press) that are considered reliable. It is not excluded that information is also used for financial analyses that partly originates from the issuer of the financial instrument. The respective sources are regularly indicated in the financial analyses. Bavest provides the financial analyses without obligation. The information has been compiled carefully and according to the latest available information. However, Bavest does not guarantee the reliability, completeness and correctness of the contents. Bavest shall not be liable for any damages or losses incurred by the user directly or as consequential damages from the use of such information, opinions and forecasts.

The historical performance of a financial instrument is not an indication of its future performance. The dissemination of investment research may be restricted or prohibited in some jurisdictions under their applicable laws.

4. Reference to possible conflicts of interest in connection with financial analyses

Financial analyses are always prepared independently by analysts (hereinafter referred to as "analysts"). The content of the financial analyses is not influenced by the issuer of the analyzed financial instrument. It cannot be ruled out that the financial analyses may be made available to the respective issuer for information purposes prior to publication without any significant changes being made to the content subsequently. Bavest takes internal measures to prevent possible conflicts of interest in connection with the preparation and dissemination of financial analyses and to disclose them, if any.

Bavest or its affiliated companies may, in individual cases, hold an interest in the companies or issuers whose securities are the subject of the content provided, in particular views, assessments or valuations. Bavest's executive bodies and employees may also hold shares in the issuer or positions in securities or financial products that are the subject of valuations. In individual cases, Bavest's executive bodies and employees may also hold supervisory board positions with issuers or have contractual or customer relationships with issuers whose securities are the subject of a financial analysis.

The remuneration of analysts is not directly or indirectly related to the preparation of the financial analysis. In the event that an analyst or a person closely associated with him or her feels exposed to a conflict of interest, the analyst is not permitted to be involved in the preparation of financial analyses concerning the issuer..

The opinions and forecasts expressed in the financial analysis are subject to change without notice. Bavest has the discretion to update financial analyses. There is no obligation to update.

5. Termination of contract

Unless otherwise agreed, the platform usage agreement including chargeable services shall run for an indefinite period of time and may be terminated at any time with one month's notice.

The right to extraordinary termination for good cause shall remain unaffected. For Bavest, good cause shall be deemed to exist in particular if the customer has provided false information during the registration process, passes on contents to third parties without consent, stops payments and/or the user is in default of payment of the fee or a not insignificant part thereof for two consecutive months. In the event of extraordinary termination, the right to assert claims for damages and to reclaim any premiums, discounts and similar benefits granted is expressly reserved.

6. Payments
The current list of prices and services listed on the platform at the time of the conclusion of the contract shall apply to functions or services and subscriptions that are subject to a charge.

Current list of prices and services listed on the platform at the time of conclusion of the contract. The respective fee is due in accordance with the agreed payment frequency immediately after receipt of the invoice.

Payment can generally be made by direct debit, credit card, Apple Pay, Google Pay or Klarna, among others. Unless otherwise agreed, payment processing is carried out in cooperation with Stripe Payments Europe Ltd. Bavest reserves the right to offer only certain payment methods for certain services or promotions.

By providing an e-mail address during registration, the user agrees that the invoice will be provided to him/her exclusively electronically.
Bavest shall be entitled to adjust the prices for the use of the Platform, chargeable functions or services or subscriptions at any time. The announcement of the price adjustment shall be made on the Platform.

7. Data Privacy
Information on the processing of personal data and the provision of newsletters and advertising materials is regulated in more detail in the privacy policy.

 

8. Limitation of liability
Bavest strives for high technological standards, but points out that errors in the technology used (hardware and software), which may lead to damages, cannot be excluded. In particular, a continuous accessibility of the platform and telecommunication systems (incl. e-mail systems) is neither owed nor guaranteed.

Bavest shall be liable without limitation for any damages in case of intent and gross negligence, also of its vicarious agents. In the event of a slightly negligent breach of a primary obligation or a secondary obligation, the breach of which endangers the achievement of the purpose of the contract or the fulfillment of which makes the proper execution of the contract possible in the first place and on the compliance with which the User could rely (hereinafter referred to as "essential secondary obligation"), the liability of Bavest shall be limited to the damage foreseeable at the time of the conclusion of the contract and typical for the contract, but not exceeding three times the monthly user fee. Bavest shall not be liable in case of a slightly negligent breach of an obligation which is not an essential secondary obligation. The above exclusions and limitations of liability shall not apply in the case of fraudulent intent, in the case of the assumption of a guarantee as well as for liability for damages resulting from injury to life, body or health. A change of the burden of proof to the disadvantage of the User shall not be associated with this.

9. Notice of dispute resolution in accordance with the consumer dispute resolution act
For disputes arising in connection with the use of the platform vis-à-vis a consumer in the context of the conclusion of a contract, the European Commission provides a platform for out-of-court online dispute resolution (ODR platform), which can be accessed at https://www.ec.europa.eu/odr.

We point out that we are neither willing nor obliged to participate in dispute resolution proceedings before a consumer arbitration board. In the event of disputes in connection with the use of the platform vis-à-vis a consumer in the context of the conclusion of a contract, we point out that we are neither willing nor obliged to participate in dispute resolution proceedings before a consumer arbitration board.

10. Final clauses
These GTC shall be governed by the laws of the Federal Republic of Germany to the exclusion of international private law. Should individual provisions of these GTC be invalid, this shall not affect the remainder of the contract. The user shall only have a right of set-off if the counterclaims have been legally established or are undisputed. The user shall only be entitled to a right of retention insofar as the counterclaim is based on the same contractual relationship. If the User is an entrepreneur within the meaning of § 14 BGB (German Civil Code), a legal entity under public law or a special fund under public law, the place of performance and exclusive place of jurisdiction for all disputes arising from the contractual relationship shall be the registered office of Bavest.

Status: September 2022