Terms of Service

Please read the General Terms and Conditions (GTC) as well as the legal and risk information carefully before using the services of Bavest Technologies GmbH.

The legal and risk information forms an integral part of the GTC, and by registering you accept the GTC, the legal and risk information and the privacy policy as binding for you.

End User License Agreement (EULA):

Last updated: 01.11.2023

I. General part

1. Scope

The following general terms and conditions (hereinafter “GTC”) govern the contractual relationship between Bavest Technologies GmbH based in Karslruhe, Germany, registered in the commercial register of the Mannheim District Court, Germany, under HRB 733874 (hereinafter “Bavest” or “we”) and users and companies (hereinafter “users” or “you”) with regard to the use of the Bavest API, websites, mobile applications and applications that are collaboration/cooperation with respective companies (together referred to as “platform”) including paid functions or services as well as subscriptions, customer contracts and other types of API contracts. Bavest is responsible for operating the platform. The use of the platform does not establish a contractual relationship with Bavest that goes beyond these terms and conditions. These terms and conditions apply even if the platform is used or accessed from outside the Federal Republic of Germany, regardless of the nationality of the user or the companies.

2. Object of contract and right of use

Bavest provides users with stock exchange and economic information, 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 is intended exclusively to inform users and is not a substitute for personal advice. In the Bavest Terminal and other platforms, registered users can link their securities accounts (“custody account”) with the platform at a custodian bank or a securities broker (“broker”). After a successful link, users receive an overview of their portfolios (“portfolio”). The terms of use of the portfolio function are set out in more detail below. The content contained on the platform is aimed exclusively at persons who have their permanent residence or registered office in the Federal Republic of Germany or in jurisdictions in which publication or access to the platform is legally permitted and not prohibited. Persons affected by such legal access or use bans are expressly prohibited from using the platform. Any liability for any damage in connection with unauthorised 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 represent investment advice or recommendation and is not an offer to buy or sell financial instruments and other investment products. The content is also not an advertisement for financial instruments or other investment products. Investors and corporate clients themselves or together with an investment advisor should get an idea of their own risk tolerance and sustainability, their own investment horizon and their own investment objectives.

4. Sentiment analysis

A sentiment analysis is used to assess the sentiment of investors and make it comprehensible. With the help of sentiment indicators, it is not companies and their economic data that are analyzed, but the behavior of investors in a targeted manner. Sentiment indicators can be analyzed and interpreted in very different ways. These indicators cannot provide reliable conclusions for or against an investment decision. They do not represent a forecast of the occurrence of a specific future performance of the securities and are also not investment advice or recommendation or a rating within the meaning of the EU Rating Regulation. No securities can be purchased or sold via the platform. Bavest therefore does not offer investment brokerage.

5. No guarantee for information

Bavest obtains some of the content provided on the platform, such as price data, indices and prices, from external data providers. Despite careful procurement and provision, Bavest does not guarantee the accuracy, completeness and timeliness of the content provided. The respective providers and operators are exclusively responsible for the content of external content, e.g. linked third-party websites. Bavest is not liable for any damage or loss suffered by the user directly or as a result of the use of the content provided. This limitation of liability does not apply if the inaccuracy is due to gross negligence or intentional conduct on the part of Bavest or its vicarious agents.

6. Delayed information

Depending on the corporate contract, the selected trading venue and type of security, price information can be presented in different ways, e.g. with a time delay of approximately 10-20 minutes. The price and market information is provided by Bavest technical service providers and independent data providers.

7. Risks of securities transactions

Investments in securities and financial products involve risks and, in addition to profits, can also lead to significant losses of invested capital. More information on possible risks is regulated in the legal and risk information, which is an integral part of these terms and conditions.

8. Right of Withdrawal

If you conclude the contract as a consumer, you have the following legal right of withdrawal:

Withdrawal Policy

You have the right to cancel the use of the platform or a subscription within 14 days without giving reasons. The cancellation period is 14 days from the day on which the platform or subscription was made available to you for retrieval or on which you or a third party named by you, who is not the carrier, has or has taken possession of the first goods.
To exercise your right of withdrawal, you must inform us (Bavest Technologies GmbH, Ludwig-Erhard-Allee 10, 76131 Karlsruhe, e-mail: support@bavest.co) of your decision to cancel this contract by means of a clear statement (e.g. a letter sent by post or an e-mail). You can use the sample cancellation form shown below, but this is not mandatory.
To meet the cancellation period, it is sufficient that you send the notification of exercise of the right of withdrawal before the cancellation period has expired.

Consequences of revocation
If you cancel this contract, we must repay you all payments we have received from you immediately and no later than fourteen days from the day on which we receive notification of your cancellation of this contract. For this repayment, we will use the same means of payment that you used for the original transaction, unless you have expressly agreed otherwise; in no case will you be charged any fees as a result of this repayment.

End of the cancellation policy

Sample withdrawal form

If you want to cancel the contract, you can use the form shown below and send it back to:

Bavest Technologies GmbH
Bahnhofplatz 12,
76137 Karlsruhe
If you want
Email: support@bavest.co
If you want
I/we (*) hereby cancel the contract concluded by me/us (*) for the purchase of the following goods (*)/the provision of the following service (*)
Ordered on (*)/received on (*)
Name of consumer (s)
Address of consumer (s)
Signature of consumer (s) (only if notified on paper)

II. Special part

1. Registration and conclusion of contract

The prerequisite for using the content and paid functions of the platform is successful registration on the platform or the conclusion of an individual contract with Bavest Technologies GmbH. With the conclusion of the registration or the differentiation of the contract, a user contract is concluded between the company/user and Bavest. By registering or signing, the user/company confirms that they have read the terms and conditions, the privacy policy and the risk information and accept or agree to them.  
There is no legal claim to open a user account. Bavest reserves the right to refuse to conclude a contract in individual cases without giving reasons.
If the user is a company within the meaning of § 14 BGB, the user is obliged to register or sign the contract personally or through an authorized representative. It is expressly prohibited for third parties to register a user account or sign a contract without their consent. The information required for registration must be provided completely and correctly. Changes to the data provided must be reported or updated by the user immediately.

2. Portfolio feature

Individual Bavest services, such as linking custody accounts with a broker to the platform and the use of individual portfolio functions (hereinafter “portfolio function”), may be chargeable. 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 use of the portfolio function at any time and without giving reasons, in particular in the event of an unauthorised connection of a third-party account. The brokers that allow customer accounts to be connected to the platform are displayed on the platform. The availability of a broker depends largely on the technical requirements for the deposit account connection and the broker's willingness to transfer custody account information from the custody account client to FinAPI to use 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 portfolio is also automatically removed from the portfolio function, so that current account information can no longer be retrieved via the platform function.

The prerequisite for using the portfolio is the conclusion of a separate user 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 Payment Services Supervision Act (“ZAG”) and is supervised by the Federal Financial Services Authority (“BaFin”). The user agreement with FinAPI (“FinAPI User 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 ZAG, is not an account information service provider and is also not subject to supervision by BaFin.

The FINAPI user agreement makes it possible to connect users' third-party bank accounts or deposits. On the basis of the FinAPI user agreement, FinAPI retrieves portfolio information directly from the user's portfolio and displays it on the platform. The user receives an overview of one or more deposits linked to the platform. The user can also view the total value of the portfolio, the development of the overall portfolio or individual financial stocks and access additional information.

The user authorizes Bavest to access deposit information on FinAPI insofar as it is required for the portfolio function. Bavest is entitled to transfer this authorization to finAPI on behalf of the user.
Bavest has no access to users' accounts or account login details at any time and will only access such deposit information that is stored with FinAPI.

The portfolio function cannot be used to make securities transactions or to place orders with a broker.
Users may only link their own repositories to the platform. Deposits of third parties may not be linked to the portfolio. Community deposits may only be connected with the express consent of the other deposit holder.
Bavest reserves the right to refuse to connect a depot at any time without giving reasons.
Individual or all repositories that are linked to the platform can be removed and 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 assumes no liability for acts and omissions by FinAPI and no liability for any damage that may result as a result. Bavest is not responsible for the processing of users' personal data by FinAPI.
After each session, you should log out of your account on the platform to prevent or reduce the risk of unauthorised access to your account information.
Bavest assumes no responsibility and is not liable for the quality, accuracy, timeliness, availability and completeness of the deposit information and other information that is 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 represent investment recommendations or investment strategy recommendations (“financial analysis”) within the meaning of Section 85 WpHG or Delegated Regulation (EU) 2017/565, unless expressly marked as such. Insofar as a financial analysis is involved in individual cases, the information contained therein cannot be regarded as an offer to buy, sell or solicit the purchase or sale of investments. They are only intended to facilitate an independent investment decision by the client and are not a substitute for investor and investment-oriented advice. The cited analyst recommendations as well as their assessment and evaluations reflect the opinion of the respective author at the time of preparation and preparation. They are not reviewed or rated by Bavest. You should always contact 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 anyone other than the intended recipients without our consent. Reproduction in whole or in part is prohibited without the consent of Bavest.

The financial analyses are based on publicly available sources (such as Bloomberg, Reuters and the press), which are considered reliable. It cannot be ruled out that financial analyses may also use information, some of which comes from the issuer of the financial instrument. The respective sources are regularly stated in the financial analyses. Bavest provides financial analyses on a non-binding basis. The information has been compiled carefully and according to the latest available state of affairs. However, Bavest does not guarantee the reliability, completeness and accuracy of the content. Bavest is not liable for any damage or loss suffered by the user directly or as a result of the use of such information, opinions and forecasts.
The historical development of a financial instrument is not indicative of its future performance.
The distribution of financial analyses may be restricted or prohibited in some jurisdictions under applicable law.

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

Financial analyses are always prepared independently by analysts (hereinafter “Analyst”). The content of the financial analyses is not influenced by the issuer of the analysed financial instrument. It cannot be ruled out that the financial analyses may be made available to the respective issuer for information prior to publication without significant changes to the content being made afterwards.
Bavest takes internal measures to prevent potential conflicts of interest in connection with the preparation and dissemination of financial analyses and to disclose them, where available.

Bavest or its affiliated companies may, in individual cases, hold a stake in the companies or issuers whose securities are the subject of the content provided, in particular of views, assessments or valuations. In individual cases, Bavest's 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 bodies and employees may also perform supervisory board functions with issuers or maintain contractual or customer relationships with issuers whose securities are the subject of 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 close to him is exposed to a conflict of interest, the analyst is not allowed to be involved in preparing financial analyses relating to the issuer.

The opinions and forecasts expressed in the financial analysis may change at any time without prior notice. Bavest is free to update financial analyses. There is no obligation to update.

5. Contract termination

Unless otherwise agreed, the terminal usage contract, including paid services, is valid for an indefinite period of time and can be terminated at any time with a notice period of one month. Separately, Bavest's general terms and conditions and individual corporate contracts with business customers apply to the use of the Bavest API.
The right to extraordinary termination for good cause remains unaffected. For Bavest, there is an important reason in particular if the customer has provided incorrect information during registration, passes on content to third parties without consent, stops payments and/or the user is in default of payment of the fee or a not insignificant part of it for two consecutive months. In the event of an extraordinary termination, we expressly reserve the right to assert claims for damages and to recover any bonuses, discounts and similar benefits granted.

6. Payment

For paid functions or services and subscriptions, the current list of prices and services listed on the platform at the time of conclusion of the contract applies. Contract conclusion, current list of prices and services, which is listed on the platform.
The respective fee is due immediately after receipt of the invoice in accordance with the agreed payment rate. Payment can generally be made by direct debit, credit card, Apple Pay, Google Pay or Klarna, among others. Unless otherwise agreed, payment is processed in cooperation with Stripe Payments Europe Ltd. Bavest reserves the right to only offer certain payment methods for certain services or promotions. By providing an email address when registering, the user agrees that the invoice will only be made available to him electronically.
Bavest is entitled to adjust the prices for using the platform, paid functions or services or subscriptions at any time. The price adjustment will be announced on the platform.

7. Price adjustments

Bavest will also adjust the prices to be paid on the basis of the contract with the user or the company at its reasonable discretion to the development of the costs that are decisive for the price calculation. A price increase is considered and a price reduction must be made if, for example, the costs for data processing in the cloud or training of internally programmed artificial intelligence increase or decrease or other changes in the pricing structures of infrastructure of other companies on which Bavest builds or legal frameworks lead to a changed cost situation. Bavest will notify any changes in writing by email or post.

8. Data protection

Information on the processing of personal data and the provision of newsletters and advertising material is regulated in more detail in the privacy policy.

9. Limitation of liability

Bavest strives for high technological standards, but points out that errors in the technology used (hardware and software) that could lead to damage cannot be ruled out. In particular, continuous availability of the platform and telecommunications systems (including e-mail systems) is neither owed nor guaranteed. Bavest, including its vicarious agents, is fully liable for any damage in the event of intent and gross negligence. In the event of a slightly negligent breach of a main performance obligation or an ancillary obligation, the breach of which jeopardizes the achievement of the purpose of the contract or whose fulfilment enables the proper execution of the contract in the first place and on whose compliance the user could rely (hereinafter referred to as “essential ancillary obligation”), Bavest's liability is limited to the typical contractual damage foreseeable at the time of conclusion of the contract, but up to a maximum of three times the monthly usage fee. Bavest is not liable in the event of a slightly negligent breach of an obligation that is not a significant secondary obligation. The above exclusions and limitations of liability do not apply in the event of malice, the assumption of a guarantee and liability for damage resulting from injury to life, body or health. This does not imply a change in the burden of proof to the detriment of the user.

10. Note on dispute resolution in accordance with the Consumer Dispute Resolution Act

For disputes arising in connection with the use of the platform against a consumer as part of the conclusion of a contract, the European Commission provides a platform for extrajudicial online dispute resolution (OS platform), available at https://www.ec.europa.eu/odr.
We would like to 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 relating to the use of the platform with a consumer as part of the conclusion of a contract, we would like to point out that we are neither willing nor obliged to participate in dispute resolution proceedings before a consumer arbitration board.

11. Final provisions

The law of the Federal Republic of Germany applies to these terms and conditions, excluding private international law.
Should individual provisions of these terms and conditions be invalid, the rest of the contract will not be affected.
The user is only entitled to offset if the counterclaims have been legally established or are undisputed. The user is only 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 Section 14 of the German Civil Code, a legal entity under public law or a special fund under public law, the place of fulfilment and exclusive place of jurisdiction for all disputes arising from the contractual relationship is Bavest's headquarters.