Terms of Use

Borsa Finance, LLC

Last Modified March 22, 2024

Borsa Finance, LLC (“Borsa”) provides certain services allowing its users to find, listen, and read transcripts to earnings calls of publicly traded companies and may also provide related services summarizing such earnings calls. Borsa also allows users to read earnings releases and presentation slides that accompany an earnings call. All users of the Website may be referred to as “Users” in this Terms of Use. Unless otherwise noted, each section and provision of this Terms of Use applies to all Users.

Within this Terms of Use, “you” are a User of the Website, and “we”, “us”, “our” or “Borsa” refers to Borsa

Finance, LLC, an Indiana limited liability company.

The services provided by Borsa to its Users through the Website may be collectively referred to as “Services”

hereunder. The below terms and conditions govern your access to and use of the Services, including use via mobile

applications, web applications websites, and any content, functionality, and services offered on or through the

same (collectively, the “Website”). Unless otherwise noted, these Terms of Use apply to you whether you create

an account via the Website or use the Website as a guest.

Please read the Terms of Use carefully before you start to use the Website. By using the Website, or by clicking to

accept or agree to the Terms of Use when this option is made available to you, you accept and agree to be bound

by and to abide by these Terms of Use and our Privacy Policy, found at https://www.borsahq.com/privacy-policy,

incorporated herein by reference. If you do not want to agree to these Terms of Use or the Privacy Policy, you

must not access or use the Website. PLEASE REVIEW THE ARBITRATION PROVISION SET FORTH BELOW CAREFULLY, AS IT WILL REQUIRE YOU TO RESOLVE DISPUTES WITH BORSA THROUGH FINAL AND BINDING ARBITRATION.

This Website is offered and available to users who are 18 years of age or older and reside in the United States or

any of its territories or possessions. By using the Website, you represent and warrant that you meet all of the

foregoing eligibility requirements. If you do not meet all of these requirements, you must not access or use the

Website.

1. Changes to Terms of Use. We may revise and update these Terms of Use from time to time in

our sole discretion. All changes are effective immediately when we post them and apply to all access to and use of

the Website thereafter. Your continued use of the Website following the posting of revised Terms of Use means

that you accept and agree to the changes. We will endeavor to provide you with written notices of any changes to

this Terms of Use if you have provided an email address to us, but in any case, you are expected to check this page

from time to time so you are aware of any changes, as they are binding on you. If you do not agree with updated

account here.

2. Accessing the Website.

2.1. We reserve the right to withdraw or amend the Website and Services we provide, in our

sole discretion without notice. We will not be liable if for any reason all or any part of the Website is

unavailable at any time or for any period. From time to time, we may restrict access to some parts of the

Website, or the entire Website, to some or all Users.

2.2. To access some of the Services we offer, you may be asked to become a Registered

User, as more fully set forth in Section 4 below. Each individual may have only one account on the

Website, and it must be in the real and legal name of the individual. If you are a Registered User, we will

send any notices and messages to you via the email address you provide to us when creating an account

on the Website. You agree to keep any contact information up to date, and either update your email by

logging into your account or reaching out to us at Borsahq@gmail.com.

2.3. It is a condition of every User’s use of the Website that any information you provide to

us is correct, current, and complete. You agree that all information you provide through use of the

Services is governed by our Privacy Policy, and you consent to all actions we take with respect to your

information consistent with our Privacy Policy, linked above.

3. Services and Use.

3.1. You acknowledge that Borsa provides a service for accessing, listening to, and reading earnings calls (the “Earnings Calls”) which are recorded and produced by third parties, and that Borsa may also provide related summaries (“Summaries”) which are prepared by Borsa and our affiliates.

3.2. We access Earnings Calls through methods which are available to the general public, and while we believe these sources to be accurate and reliable, we cannot guarantee such accuracy or reliability. We also access earnings call presentation slides and earnings calls earnings releases through methods which are available to the general public, and while we believe these sources to be accurate and reliable, we cannot guarantee such accuracy or reliability. We do not partner with or have any formal relationship with the companies whose Earnings Calls may be accessed through the Website. We are not obligated to, nor do we, review the Earnings Calls in advance of making them available on the Website, nor do we provide any opinion as to their accuracy or completeness. We disclaim all liability for the content, accuracy, completeness, legality, reliability, or availability of any postings, details, and information regarding the Earnings Calls

3.3. All Summaries of Earnings Calls are based upon the judgment of Borsa and its affiliates

as to the portions of such Earnings Calls which may be most interesting to our Users, and by their nature

will not cover all topics or details set forth in the Earnings Calls on which they are based. If any portion of

the Summaries could be construed as offering an opinion, whether directly or through the inclusion of

omission of any information, you acknowledge that such opinions are only opinions, and the preparer of

such Summaries may have their own biases and may have different personal goals that may not be

applicable to you. Summaries are automated and generated by artificial intelligence services. It is important to note that these automated Summaries may contain errors, and we do not assume any liability for inaccuracies in the Summaries. Users are encouraged to verify information independently for critical purposes. Additionally, the Summaries generated by our service are intended for informational and entertainment purposes only. They should not be relied upon as a substitute for professional advice or as a basis for making investment decisions. We explicitly disclaim any responsibility for the use of our Summaries as investment advice. Users should exercise caution and diligence when interpreting and relying on the information provided in these Summaries. By using our service, you acknowledge and agree that you are aware of the limitations of automated AI Summaries and that our service is not a source of authoritative financial or investment guidance. Any actions taken based on the information provided in the Summaries are at the user's own risk.

3.4. Our service provides automated transcripts for Earnings Calls. It is important to note that these automated transcripts may contain errors, and we do not assume any liability for inaccuracies in the transcriptions. Users are encouraged to verify information independently for critical purposes. Additionally, the transcripts generated by our service are intended for informational and entertainment purposes only. They should not be relied upon as a substitute for professional advice or as a basis for making investment decisions. We explicitly disclaim any responsibility for the use of our transcripts as investment advice. Users should exercise caution and diligence when interpreting and relying on the information provided in these transcripts. By using our service, you acknowledge and agree that you are aware of the limitations of automated transcription and that our service is not a source of authoritative financial or investment guidance. Any actions taken based on the information provided in the transcripts are at the user's own risk.

3.5. We caution you to, and it is your responsibility to, verify the validity of and details of any Earnings Calls, Presentation Slides, Earnings Releases, Transcripts, and Summaries before taking any action based on such Earnings Calls or Summaries.We do not guarantee that Summaries will include all information that any User would personally consider relevant. We further disclaim all liability, direct or indirect, for any expectations (whether personal, business, or monetary) that any User may have resulting from accessing any Earnings Calls or summaries of the same.

3.6. THE CONTENT PROVIDED THROUGH THE SERVICES IS TO BE USED FOR

INFORMATIONAL AND ENTERTAINMENT PURPOSES ONLY. BORSA DOES NOT PROVIDE INVESTMENT

ADVICE OR ADVOCATE THE PURCHASE OF SALE OF ANY SECURITY OR INVESTMENT. YOU SHOULD

ALWAYS SEEK THE ASSISTANCE OF A PROFESSIONAL FOR INVESTMENT ADVICE. YOU ALONE ARE SOLELY RESPONSIBLE FOR DETERMINING WHETHER ANY INVESTMENT, SECURITY OR STRATEGY, OR ANY OTHER PRODUCT OR SERVICE, IS APPROPRIATE OR SUITABLE FOR YOU BASED ON YOUR PERSONAL INVESTMENT OBJECTIVES AND FINANCIAL SITUATION.

3.7. If we recommend any Earnings Calls or Summaries to our Users, directly or indirectly

(such as via email or during use of the Website), such recommendations does not constitute any

representation as to your personal use of the Earnings Calls or Summaries for any purpose; such

recommendations are based only upon the information you have provided to us regarding your interests,

and information collected by us regarding your use of the Website which may include your previous views

of Summaries or access of other Earnings Calls. In no case will Borsa offer personalized advice to any User.

3.8. If our Website provides any links to companies to which the Earnings Calls are related,

or links to locations where Earnings Calls were obtained, such third-party sites are not governed by this

agreements that you have with other Users are solely between you and such other Users.

4. Registered Users.

4.1. Our Website allows Users to create an account (each holder of an account, a

“Registered User”). Registered Users may have the ability to customize their use of the Website. We may

require that Registered Users pay certain fees to access certain portions of the Services. If you choose, or

are provided with, a username, password, or any other piece of information as part of our security

procedures, you must treat such information as confidential, and you must not disclose it to any other

person or entity. You agree to notify us immediately of any unauthorized access to or use of your

username or password or any other breach of security. You also agree to ensure that you will log out from

your account at the end of each session if you are a Registered User. You do not have permission to

transfer or assign your Registered User account to any third-party.

4.2. Each Registered User account gives access to the Website to one designated individual.

If a User is using the Services on behalf of its business or employer, such account may not be shared with

other individuals at the business or employer, and each individual accessing the Website for such business

or employer shall create an individual Registered User account. If we discover that Registered Users are

sharing account access with any unauthorized user(s), we may cancel your account in our sole discretion,

or may require that the Registered User pay a fee to reinstate its account.

4.3. We have the right to disable any username, password, or other identifier, whether

chosen by you or provided by us, at any time in our sole discretion for any or no reason, including if, in our

opinion, you have violated any provision of this Terms of Use or the Privacy Policy.

5. Payments.

5.1. If the Registered User’s account requires a monthly recurring payment, monthly fees are

billed in advance of the month to which they apply.

5.2. The Registered User expressly agrees that Borsa may automatically charge Registered

User’s payment method on a monthly basis without further notice or consent from the Registered User. If

the Registered User fails to make any payment or a Registered User’s automatic payment is declined or

ineffective, Borsa will provide the Registered User with a 5-day notice granting Registered User the

opportunity to remedy such nonpayment, and thereafter may cancel a Registered User’s account in its

sole discretion without further notice. By providing a payment method or payment details, (i) you

represent and warrant to Borsa that you are an authorized user of such payment method and (ii) you are

authorizing Borsa (or its third-party provider) to charge all fees incurred by you. All fees are subject to

applicable sales taxes and other local government charges, which may be charged and collected by Borsa.

5.3. If a Registered User desires to cancel its account, Borsa will cease drawing any further

payments, but will not provide any refunds of funds already paid. If Borsa cancels a Registered User’s

account due to a breach of these Terms of Use or the Privacy Policy, Borsa will cease drawing any further

payments, but will not provide any refunds of funds already paid. Registered Users hereby waive any

rights to partial or pro rata refunds for cancellations or terminations mid-month and acknowledge that

Borsa may retain such funds as an administrative fee. You further agree that until your account is

terminated, you will continue to accrue charges for which you remain responsible, even if you do not

access or use your account or the Services.

5.4. If Borsa changes its pricing model for Registered User account, Registered Users will be

alerted 60 days in advance of the change in pricing and may cancel their account if they do not agree to

the changes. If a Registered User does not cancel its account before the pricing change goes into effect,

the Registered User expressly agrees to the change in pricing. As noted above, it is each Registered User’s

responsibility to keep its contact information current with Borsa.

5.5. Borsa may use a third-party payment processor for Registered Users’ payments. Such

third-party payment processor’s terms of use and privacy policy, if any, are as set forth by such third-party

on their platforms. As of the date of this Terms of Use, Borsa is processing payments through the Apple

Store or Google Play Store, as applicable for each User. The terms applicable to such payment processors

are available through their respective websites.

6. Prohibited Uses.

6.1. You may use the Website only for lawful purposes and in accordance with these Terms

of Use. You agree not to use the Website in any way that violates any applicable federal, state, local, or

international law or regulation (including, without limitation, any laws regarding the export of data or

software to and from the US or other countries); for the purpose of exploiting, harming, or attempting to

exploit or harm minors in any way by exposing them to inappropriate content, asking for personally

identifiable information, or otherwise; to transmit, or procure the sending of, any advertising or

promotional material without our prior consent; to impersonate or attempt to impersonate any other

party; or to engage in any other conduct that restricts or inhibits anyone's use or enjoyment of the

Website, or which may harm Users of the Website or expose them to liability, in our sole discretion.

6.2. Additionally, you agree not to use the Website in any manner that could disable,

overburden, damage, or impair the proper working of the site or interfere with any other party's use of

the Website; use any device, process, or means to access the Website for any purpose, including

monitoring or copying any of the material on the Website; use any manual process to monitor or copy any

of the material on the Website, or for any other purpose not expressly authorized in these Terms of Use;

or introduce any viruses or other material that is malicious or technologically harmful; attempt to gain

unauthorized access to, interfere with, damage, or disrupt any parts of the Website or attack the Website

in any way.

7. Intellectual Property Rights.

7.1. You acknowledge and agree that the Services and any software used in connection with

the Services contain proprietary and confidential information that is protected by applicable intellectual

property law and other laws. The Website, the Services, and the entire contents, features, and

functionality (including but not limited to all information, software, underlying code, text, displays,

images, video, and audio, and the design, selection, and arrangement thereof) associated therewith are

owned by Borsa Finance, LLC and are protected by United States intellectual property laws (including but

not limited to copyright, trademark, and patent laws) and where applicable, international intellectual

property laws.

7.2. As between Users and Borsa, all right, title and interest in and to any intellectual

property incorporated, used, or made viable in connection with to the Services will remain solely with

Borsa. No right, title, or interest in or to the Website or any content on the Website is transferred to you.

The terms “Borsa Finance” or “Borsa”, our logo, and all related names, logos, product and service names,

designs, and slogans are trademarks of Borsa Finance, LLC. You agree that you are only using the Services

for the purposes intended and set forth herein, and not for purposes of reverse engineering or otherwise

discovering confidential or protected information about the Website or about Borsa.

7.3. Without limiting the generality of the foregoing, all Summaries, whether or not the

same are or can be protected by intellectual property laws or other laws, are owned by Borsa, as between

Users and Borsa, and you have no right to distribute, make public, resell, or otherwise disseminate such

Summaries to third parties.

7.4. If you send or transmit any communications or materials to us, suggesting or

recommending changes to the Website or Services more generally, including without limitation, new

features or functionality relating thereto, or any comments, questions, suggestions regarding the Website

or the Services more generally (collectively, “Feedback”), you hereby assign to us all right, title, and

interest in, the Feedback, and we are free to use or implement such Feedback, without any attribution or

compensation to any party regarding any ideas, know-how, concepts, techniques, or other intellectual

property rights contained in, the Feedback. We are not required to incorporate any Feedback.

7.5. These Terms of Use permit you to use the Website only for the purposes intended

herein and not for any commercial use except as specified herein. You must not reproduce, distribute,

modify, create derivative works of, publicly display, publicly perform, republish, download, intentionally

store, or transmit any of the material on our Website. You may not modify copies of any materials from

this site; delete or alter any copyright, trademark, or other proprietary rights notices from copies of

materials from this site; or access or use for any commercial purposes any part of the Website or any

services or materials available through the Website.

7.6. If you wish to make any use of any material on the Website other than that set forth in

this section, please address your request to: Borsahq@gmail.com. We may approve or deny such request

in our sole discretion. If you do not receive a response from us, such non-response constitutes a denial of

your request.

8. Monitoring, Enforcement, and Termination.

8.1. We have the right to (i) take appropriate legal action, including without limitation, refer

you to law enforcement, for any illegal or unauthorized use of the Website; (ii) without limiting the

foregoing, cooperate fully with any law enforcement authorities or court order requesting or directing us

to disclose the identity or other information of any User of the Website; and (iii) terminate or suspend

your access to all or part of the Website for any or no reason, including without limitation, any violation of

these Terms of Use.

8.2. YOU WAIVE AND HOLD HARMLESS BORSA AND ITS AFFILIATES, LICENSEES, AND SERVICE

PROVIDERS FROM ANY CLAIMS RESULTING FROM ANY ACTION TAKEN BY ANY OF THE FOREGOING

PARTIES DURING, OR TAKEN AS A CONSEQUENCE OF, INVESTIGATIONS BY EITHER SUCH PARTIES OR LAW ENFORCEMENT AUTHORITIES.

9. Reporting Infringement.

9.1. Copyright Infringement and DMCA Notices. We take claims of copyright infringement

seriously. We will respond to notices of alleged copyright infringement that comply with applicable law. If

you believe any materials accessible on or from the Website infringe your copyright, you may request

removal of those materials (or access to them) from the Website by submitting written notification to our

substantially all the details as required by the Online Copyright Infringement Liability Limitation Act of the

Digital Millennium Copyright Act (17 U.S.C. § 512). If you fail to comply with all of the requirements of

Section 512(c)(3) of the DMCA, your DMCA Notice may not be effective. Please be aware that if you

knowingly materially misrepresent that material or activity on the Website is infringing your copyright,

you may be held liable for damages (including costs and attorneys’ fees) under Section 512(f) of the

DMCA. It is our policy in appropriate circumstances to disable and/or terminate the accounts of Users

who are repeat infringers.

9.2. Trademark and Impersonation. Unless and until given information to the contrary, we

assume that each Registered User has the right to create an account, and otherwise use the Services. We

are not liable to any third-party if an unauthorized account is created on their behalf. If you feel that an

account has been created on our Website on your behalf or using your name or personal information that

was not authorized, please use the email address noted in Section 9.1 herein to report such

impersonation of your entity. You may also submit claims of trademark infringement or other intellectual

property infringements to the email address set forth in Section 9.1 herein.

10. Information About You. All information we collect on this Website is subject to our Privacy

Policy. By using the Website, you consent to all actions taken by us with respect to your information in compliance

with the Privacy Policy.

11. Geographic Restrictions. The owner of the Website is based in the State of Indiana in the United

States. We provide this Website for use only by persons located in the United States. We make no claims that the

Website or any of its content is accessible or appropriate outside of the United States. Access to the Website may

not be legal by certain persons or in certain countries. If you access the Website from outside the United States,

you do so on your own initiative and are responsible for compliance with local laws.

12. Disclaimer of Warranties.

12.1. You understand that we cannot and do not guarantee or warrant that files available for

downloading from the internet, or the Website generally, will be free of viruses or other destructive code.

You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular

requirements for anti-virus protection and accuracy of data input and output, and for maintaining a

means external to our site for any reconstruction of any lost data. TO THE FULLEST EXTENT PERMITTED BY

LAW, WE WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY A DISTRIBUTED DENIAL-OF-SERVICE ATTACK, VIRUSES, OR OTHER TECHNOLOGICALLY HARMFUL MATERIAL THAT MAY INFECT YOUR COMPUTER EQUIPMENT, COMPUTER PROGRAMS, DATA, MOBILE DEVICE, OR OTHER MATERIAL DUE TO YOUR USE OF THE WEBSITE OR ANY SERVICES OBTAINED THROUGH THE WEBSITE, OR TO YOUR DOWNLOADING OF ANY MATERIAL POSTED ON IT, OR ON ANY WEBSITE LINKED TO IT.

12.2. YOUR USE OF THE WEBSITE, ITS CONTENT, AND ANY SERVICES OR ITEMS OBTAINED

THROUGH THE WEBSITE IS AT YOUR OWN RISK. THE WEBSITE, ITS CONTENT, AND ANY SERVICES OR

ITEMS OBTAINED THROUGH THE WEBSITE ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS,

WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. NEITHER BORSA NOR ANY

PERSON ASSOCIATED WITH BORSA MAKES ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY, OR AVAILABILITY OF THE WEBSITE, OR THE MATERIALS CONTAINED ON THE WEBSITE. WITHOUT LIMITING THE FOREGOING, NEITHER BORSA NOR ANYONE ASSOCIATED WITH BORSA REPRESENTS OR WARRANTS THAT THE WEBSITE, ITS CONTENT, OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE WILL BE ACCURATE, RELIABLE, ERROR-FREE, OR UNINTERRUPTED, THAT DEFECTS WILL BE CORRECTED, THAT OUR SITE OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS, OR THAT THE WEBSITE OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE WILL OTHERWISE MEET YOUR NEEDS OR EXPECTATIONS.

12.3. TO THE FULLEST EXTENT PROVIDED BY LAW, WE HEREBY DISCLAIM ALL WARRANTIES OF

ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT, AND FITNESS FOR PARTICULAR PURPOSE. The foregoing does not affect any warranties that cannot be excluded or limited under

applicable law.

13. Limitation on Liability

13.1. TO THE FULLEST EXTENT PROVIDED BY LAW, IN NO EVENT WILL BORSA, ITS AFFILIATES,

OR OUR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS, DIRECTORS, OR MEMBERS BE LIABLE FOR DAMAGES OF ANY KIND, UNDER ANY LEGAL THEORY, ARISING OUT OF OR IN CONNECTION WITH YOUR USE, OR INABILITY TO USE, THE WEBSITE, ANY WEBSITES LINKED TO IT, ANY CONTENT ON THE WEBSITE OR SUCH OTHER WEBSITES, INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, AND WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT, OR OTHERWISE, EVEN IF FORESEEABLE. The foregoing does not affect any liability that cannot be excluded or limited under applicable law.

14. Indemnification. You agree to defend, indemnify, and hold harmless Borsa, its affiliates,

licensors, and service providers, and its and their respective officers, directors, members, shareholders,

employees, contractors, agents, licensors, suppliers, successors, and assigns from and against any claims, liabilities,

damages, judgments, awards, losses, costs, expenses, or fees (including reasonable attorneys' fees) arising out of

or relating to your violation of these Terms of Use or your use of the Website, including, but not limited to, any use

of the Website's content or services other than as expressly authorized in these Terms of Use, or your use of any

information obtained from the Website.

15. Governing Law and Arbitration. YOU SHOULD READ THIS SECTION CAREFULLY AS IT MAY

SIGNIFICANTLY AFFECT YOUR LEGAL RIGHTS, INCLUDING YOUR RIGHT TO FILE A LAWSUIT IN COURT.

15.1. All matters relating to the Website and these Terms of Use, and any dispute or claim

arising therefrom or related thereto (in each case, including non-contractual disputes or claims), shall be

governed by and construed in accordance with the internal laws of the State of Indiana without giving

effect to any choice or conflict of law provision or rule (whether of the State of Indiana or any other

jurisdiction).

15.2. You and Borsa will engage in good faith negotiation to resolve any dispute, claim, or

question, and use respective best efforts to settle the same, as a condition precedent to either party

initiating any court action, lawsuit, mediation, or arbitration. If no resolution is reached, either party may

initiate binding arbitration as the sole means to resolve claims, as provided herein. All claims arising out of

or relating to this Agreement, including access to and use of the Services, shall be finally settled by binding

arbitration administered by JAMS under the applicable commercial arbitration rules, excluding any rules

or procedures governing or permitting class actions.

15.3. The arbitrator shall have exclusive authority to resolve all disputes arising out of or

relating to the interpretation, applicability, enforceability, or formation of this Agreement, including

whether a claim is subject to arbitration. The arbitrator shall be empowered to grant whatever relief

would be available in a court under law or in equity. The arbitrator’s award shall be written, nonappealable,

and binding on the parties, and may be entered as a judgment in any court of competent

jurisdiction.

15.4. The parties understand that, absent this mandatory provision, they would have the right

to sue in court and have a jury trial. They further understand that, in some instances, the costs of

arbitration could exceed the costs of litigation and the right to discovery may be more limited in

arbitration than in court.

16. Limitation on Time to File Claims. ANY CAUSE OF ACTION OR CLAIM YOU MAY HAVE ARISING

OUT OF OR RELATING TO THESE TERMS OF USE OR THE WEBSITE MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES; OTHERWISE, SUCH CAUSE OF ACTION OR CLAIM IS PERMANENTLY BARRED.

17. Entire Agreement. This Terms of Use and the Privacy Policy contain the entire agreement

between Borsa and you as a User of the Services. No other communications, whether direct or indirect, between

you and Borsa will, or are intended to, alter, or supersede any provision of this Terms of Use or Privacy Policy.

18. Waiver and Severability. No waiver by Borsa of any term or condition set out in these Terms of

Use shall be deemed a further or continuing waiver of such term or condition or a waiver of any other term or

condition, and any failure of Borsa to assert a right or provision under these Terms of Use shall not constitute a

waiver of such right or provision. If any provision of these Terms of Use is held by a court or other tribunal of

competent jurisdiction to be invalid, illegal, or unenforceable for any reason, such provision shall be eliminated or

limited to the minimum extent such that the remaining provisions of the Terms of Use will continue in full force

and effect.

19. Comments and Concerns. We welcome our Users to report any suspected violation of this

will investigate any such report and may act as we deem appropriate in our sole discretion.