Terms and Conditions/Site Disclaimer

Acceptance

This Website, www.isda.org/credit, is owned and operated by International Swaps and Derivatives Association Inc. ("ISDA”).  By accessing this Website you accept and agree to comply with all of the Terms and Conditions set out below. PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE ACCESSING OR USING THIS WEBSITE. You may not access or use this Website if you do not agree to be so bound.

Modifications

While ISDA seeks to provide timely and accurate information to those who access this Website and our database, it cannot assure the timeliness, completeness or accuracy of the information presented therein. The information and materials contained in this Website - including text, graphics, links or other items - are provided "as is" and "as available." Because market information may change at short notice, you should first check with us to ascertain whether data that you wish to use is current. Through your continued access and use of this Website you agree to periodically review these terms and conditions and to be bound by such future modification(s). Continued use of the Website following any such change means you accept the change.

Disclaimer

Hyperlinks to other internet resources are used by you at your own risk; ISDA is not in a position to and does not seek to monitor or verify the content, accuracy, opinions expressed and other links provided by such third party resources in any way and is not liable for any aspect of such resources or any consequence arising from your use of those resources.
ISDA does not represent or guarantee that files, software or information of any kind or from any source available for downloading will be free of infection, viruses, worms, Trojan horses or other code or defects that may manifest harmful properties.

No Warranty

ISDA expressly disclaims liability for errors or omissions in this information and materials. Nor does ISDA warrant that any information on the Website or in our database is the “best practice” at the current moment or represents the present status of the marketplace. No warranty of any kind, implied, express or statutory, including but not limited to the warranties of non-infringement of third-party rights, title, merchantability, fitness for a particular purpose or use, and freedom from computer virus, is given in conjunction with the information and materials.

No legal or financial advice

You should understand that ISDA does not provide legal or financial advice as to whether to engage in any specific commercial transaction. This Website is designed for educational purposes only. It is not meant to be a substitute for legal advice from an attorney, with whom you should consult with for any specific legal concern. Nor is it intended to offer guidance as to the feasibility or non-feasibility of entering any specific commercial transaction.

Limitation of Liability
UNDER NO CIRCUMSTANCES SHALL ISDA BE LIABLE TO THE USER AND/OR ANY THIRD PARTY, REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT OR IN TORT OR ANY OTHER THEORY, FOR: (A) LOSS OR DAMAGE CAUSED IN ANY PART BY THE USE OF DATA OR OTHER MATERIALS ON THIS WEBSITE; OR (B) ANY INDIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL OR PUNITIVE DAMAGES THAT RESULT FROM THE USE OF, OR THE INABILITY TO USE, THE MATERIALS ON THIS WEB SITE, EVEN IF ISDA HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. APPLICABLE LAW MAY NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY OR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU. IN NO EVENT, HOWEVER, SHALL ISDA’S TOTAL LIABILITY TO YOU FOR ALL DAMAGES, LOSSES, AND CAUSES OF ACTION (WHETHER IN CONTRACT, TORT, INCLUDING, BUT NOT LIMITED TO NEGLIGENCE, OR OTHERWISE) EXCEED THE AMOUNT PAID BY YOU, IF ANY, FOR ACCESSING THE SITE.

Indemnity
You agree to indemnify ISDA and to hold harmless it, its officers, agents and or employees in respect of any and all claims, demands, costs, damages and or penalties arising out of any failure by you or any agent acting on your behalf to fully observe these Terms and Conditions or by reason of any use by you or such agent of any information or images provided on this Website.

Trademark & Copyright
Trademarks (including but not limited to the "ISDA®," "FpML®," "ISDA ON DEMAND®," "ISDA Credit Derivatives Determinations Committees", "ISDA CDS MARKETPLACE®" marks) that are used or displayed on this Website are owned by ISDA. The trademarks of ISDA may not be copied or used, in whole, partial or modified form, without the prior written permission of ISDA or, if applicable, its licensor. In addition, ISDA custom graphics, logos, button icons, scripts, and page headers are covered by trademark, trade dress, copyright or other proprietary right law, and may not be copied, imitated, or used, in whole, partial or modified form, without the prior written permission of ISDA. You may not use any metatags or any other "hidden text" utilizing an ISDA name, trademark, or product name without the express written consent of ISDA.

Certain other trademarks, service marks, registered trademarks, product and service names, and company names or logos that may appear on this Website are the property of their respective owners, who may or may not be affiliated with, connected to, or sponsored by ISDA. These third parties’ marks should not be copied without their owner’s express written permission.

No Solicitation In Relation To Securities or Commodities
Nothing on this Website constitutes a solicitation for the purchase or sale of securities or commodities. Quotes and other data are provided for information only and are not intended for trading.

Choice of Law
By accessing the services on our Website, you agree to be governed by the laws of the State of New York, the jurisdiction where ISDA is incorporated and located. The laws of such jurisdiction will govern all matters relating to this Agreement, and the use, or inability to use, the services, and that such laws will apply without regard to its principles of conflict of laws. You agree to submit to the exclusive jurisdiction and venue of such jurisdiction. This choice of jurisdiction does not prevent ISDA from seeking injunctive relief with respect to a violation of intellectual property rights or confidentiality obligations in any appropriate jurisdiction.

Limitations
You agree that any and all disputes which may arise under this Agreement must be brought within one year of the events giving rise to the underlying claim.

Forum
You agree that any and all disputes which may arise under or be related to this Agreement shall be litigated before a court located in the City of New York, New York, U.S.A., where ISDA is located, to the exclusion of the courts of any other state or country.

Privacy
Your privacy is important to us. Our Privacy Policy is incorporated in this Agreement and subject to these Terms and Conditions. The Privacy Policy is available here and from our Home page.

Right to Revise this Agreement
ISDA has the right at any time to revise and to otherwise modify this Agreement, and to impose new or additional Terms or Conditions (collectively, "Additional Terms") on your use of the services available on or through our Website. Such Additional Terms are effective immediately and are incorporated into this Agreement when posted by ISDA to the Site. Use of the Site following such notice indicates your acceptance of all such Additional Terms.

Revision/Termination of Services
ISDA has the right, at any time, to modify or discontinue, temporarily or permanently, the services we offer on or through this Website, and/or to refuse or restrict anyone from access to any such services, with or without notice and in its sole discretion. ISDA shall not be liable in damages or for purposes of equitable relief for any modification, suspension or discontinuance of any services.

Miscellaneous Provisions
These Terms and Conditions constitute the entire agreement between you and ISDA with respect to the subject matter addressed herein, and governs your use of this Website, superseding any prior agreements between you and ISDA relating to such subject matter. These Terms and Conditions may be supplemented by any other agreement you enter into with ISDA pursuant to a registration to access certain features of the Site. The failure of ISDA to exercise any right or provision of these Terms and Conditions shall not constitute a waiver of such right or provision. If any provision of these Terms and Conditions is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree the other provisions of these Terms and Conditions remain in full force and effect. The section headings used in this Agreement are for convenience only and have no legal effect.