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VesselsValue Limited terms and conditions for use of trial data

IMPORTANT - PLEASE READ THIS AGREEMENT CAREFULLY AS IT GOVERNS YOUR USE OF VESSELSVALUE DATA SERVICES REGARDLESS OF LICENCE TYPE OF DELIVERY METHOD AS OUTLINED IN THESE TERMS. NOTE THAT THIS AGREEMENT CONTAINS IMPORTANT PROVISIONS THAT YOU SHOULD READ. PLEASE PRINT A COPY FOR YOUR RECORDS. CONTINUED USE OF VESSELSVALUE DATA SERVICES INCLUDING USE OF THE VESSELSVALUE WEBSITE CONSTITUTES ACCEPTANCE OF THESE TERMS.

1. General

1.1 These Terms and Conditions apply when VesselsValue has agreed to provide access for a potential customer
(a ‘Customer’) to sets of data from VesselsValue’s database(s) of researched data and editorial content which may include valuation certificates based on such researched data (collectively “VesselsValue Data”) for trial and/or evaluation purposes only. Such access is granted in accordance with the limited license specified in section 2 of these Terms and Conditions of Use (the ‘License’). The Licence is personal to the Customer and may not be assigned or transferred. Any password issued by VesselsValue, is personal to the named individual (each a ‘User’) to whom it is issued and may not be shared. Vessels Value Data may include data provided by VesselsValue’s partner Seasure Shipbroking.

1.2 These Terms and Conditions will be interpreted in accordance with the laws of England and Wales. No amendment or variation to these Terms and Conditions will be valid unless in writing and signed by a Director of VesselsValue Limited. The Customer submits to the non-exclusive jurisdiction of the English Courts. The Customer agrees not for six months from last receipt of VesselsValue Data actively to solicit for employment any employee of VesselsValue with whom the Customer has dealt directly in relation to the VesselsValue Data.

2. License

Customers may use VesselsValue Data for the purpose only of evaluating the VesselsValue Data for use in the Customer’s ordinary business and/or deciding whether to enter into a subscription agreement or other commercial arrangement with VesselsValue. Customers may not, without prior written consent from VesselsValue (which may be withheld at VesselsValue’s discretion) use VesselsValue Data for any other purpose including but not limited to sharing VesselsValue Data with third parties, reselling VesselsValue Data, engaging in any redistribution of VesselsValue Data or using VesselsValue Data to compete with VesselsValue’s business.

3. Intellectual Property Rights

3.1 All intellectual property rights, including but not limited to copyright and database rights, in the VesselsValue Data and the underlying databases are and shall remain the property of VesselsValue Limited and its licensors.

3.2 Customers and Users acquire no proprietary rights in the VesselsValue Data and may not use the VesselsValue Data in any way that is not authorised by the License or which infringes the intellectual property rights in them.

3.3 Customers and Users may not obscure or remove any copyright, disclaimer or other notices from VesselsValue Data.

4. Deletion of Data

4.1 Unless otherwise agreed in writing by VesselsValue, within 3 months of last receipt of VesselsValue Data the Customer shall; (i) immediately cease all use of the VesselsValue Data; (ii) delete all copies of the VesselsValue Data from its systems; and (iii) destroy all physical copies of the VesselsValue Data.

4.2 If required by VesselsValue the Customer shall provide a certificate signed by a senior officer of the Customer confirming that the Customer has deleted the VesselsValue Data.

5. Verification and Audit

5.1 VesselsValue may itself or using a third party enter the Customer’s premises during normal business hours and inspect the Customer’s records relating to the use of VesselsValue Data. VesselsValue shall treat as confidential any information relating to the Customer’s business that it acquires in the course of such inspection. VesselsValue shall give 5 business days’ notice of its intention to audit. The right of VesselsValue to conduct a physical audit shall continue for 12 months after the last delivery of VesselsValue Data.

5.2 If an audit performed by VesselsValue reveals that the Customer is in breach of these Terms and Conditions the Customer will reimburse VesselsValue; (i) the reasonable cost incurred by VesselsValue in performing the audit; (ii) all fees payable in relation to any unauthorised use of VesselsValue Data at VesselsValue then current list price; and (iii) interest on such amounts from the date they become payable until the date of payment at the highest rate permitted by applicable law.

6. Limitations on Liability

6.1 Subject to the other provisions of this Section 6 and to the extent permitted by applicable law VesselsValue shall have no liability to any Customer arising from use by or on behalf of the Customer of VesselsValue Data.

6.2 The Customer acknowledges that VesselsValue Data are collated and processed by and on behalf of VesselsValue in accordance with methodologies and assumptions published and updated by VesselsValue from time to time which do not take into account particular circumstances applicable to individual customers or users and therefore; (i) are made available to the Customer on an ‘as is’ basis; (ii) are not intended as a substitute for formal advice valuations; (iii) should not be used solely as trading, investment or other advice; and (iv) are not intended as a substitute for professional judgement.

6.3 VesselsValue excludes to the extent permitted by law all implied warranties relating to fitness for a particular purpose, including any implied warranty that VesselsValue Data is accurate or complete.

6.4 VesselsValue does not exclude or limit its liability for death or personal injury caused by its negligence or that of its agents.

6.5 VesselsValue accepts no liability to any third party who benefits from, uses or relies on VesselsValue Data accessed by the Customer. The Customer will indemnify VesselsValue from and against any, losses, damages, costs and/or expenses incurred by VesselsValue in connection with any claim by any such third party relating to VesselsValue Data produced by or on behalf of VesselsValue for the Customer.

Updated 19th January 2021

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