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THIS MONEY BACK GUARANTEE AGREEMENT (“Agreement”) is executed by and between:
Stokhold Technology LLC Belgrade, a corporation duly organized and existing under the laws of the Republic of Serbia, with principal place of business at Tadije Sondermajera no. 3, floor: 3, apartment no.: 28, 11070 Novi Beograd, Belgrade, Republic of Serbia (hereinafter referred to as the “Company”);
AND
Сustomer refers to the individual, signing the below Agreement (hereinafter referred to as “Сustomer”), which expression shall, unless repugnant to the context or meaning thereof, include its successors, executors, administrators, legal representatives, permitted assigns and nominees);
The Company and the Сustomer shall hereinafter be referred to individually as a “Party” and collectively as “Parties”.
WHEREAS:
A. The Company is an tech startup providing subscription service in the fields of virtual portfolio management with educational purposes.
B. The Company is desirous of providing a human-assisted AI based Service that helps to educate retail investors about the earning potential of tailor-made individual portfolio investment strategies.
C. The Company shall provide the Service to the interested customers on such terms and conditions as set out in this Agreement.
D. The Company is not an investment advisor. The site, mobile apps and the content provided in connection therewith are not and should not be construed as investment advice or a recommendation or opinion with respect to any particular security. In addition, the Service, the site, the mobile apps, the algorithm and the content provided in connection therewith may contain, may be based on or otherwise refer to errors, inaccuracies, miscalculations, partial or incomplete information, outdated data, mistakes or faults. Such content is provided for informational purposes only and should not be used or relied on in making investment decisions.
E. In reliance of the mutual covenants and agreements, the Company and the Сustomer are desirous of regulating their relationship in accordance with and subject to the terms hereof and in the manner set forth herein.
F. The Money Back Guarantee is the Guarantee to refund ONLY the price of the annual subscription to the Service given that a Customer has paid for the subscription 12 months in a row. The Company does not promise that its algorithm of the robot-investor can show how to beat the market by at least 5% - the only thing the Company promises is that if the virtual portfolio for which the Money Back Guarantee offer is applicable does not outperform S&P 500 by at least 5%, then after 12 months period the annual price of subscription will be refunded.
NOW, THEREFORE THE PARTIES HERETO AGREE AS FOLLOWS:
1. DEFINITIONS AND INTERPRETATION
1.1 Definitions
Unless the context otherwise requires or unless otherwise defined or provided for herein, the capitalized terms used in this Agreement shall have the following meanings:
1.1.1 “Applicable Law” means any statute, law, regulation, ordinance, rule, judgment, notification, rule of common law, order, decree, bye-law, government approval, directive, guideline, requirement or other governmental restriction, or any similar form of decision of, or determination by, or any interpretation, policy or administration, having the force of law of any of the foregoing, by any governmental entity or authority having jurisdiction over the matter in question, whether in effect as of the date of this Agreement or thereafter;
1.1.2 “Subscription fee” shall have the meaning ascribed to it in Clause 3.1 of this Agreement;
1.1.3 “Money Back Guarantee” shall have the meaning ascribed to it in Clause 4.1 of this Agreement;
1.1.4 “Third Party” shall mean any person who is not a party to this Agreement;
1.1.5 “Service” shall mean a human-assisted AI based platform that creates on-demand (by Сustomer’s request) Virtual Portfolios and runs them with the purpose of helping to educate retail investors about the earning potential of tailor-made on-demand portfolio investment strategies.
1.1.6 “Virtual Portfolio” shall mean a portfolio in Stokhold database linked to the personal account and which is available for a Сustomer in a personal dashboard. The algorithm of the robot makes trade stock deals for such a portfolio and a Сustomer receives notifications about such deals by email, push notifications, or in a messenger, or any other similar manner. A Сustomer can always see the state of a current virtual portfolio in his/her personal dashboard. All the trades that are done by the algorithm of the robot for a virtual portfolio and shown in the portfolio trades history are only intended to provide you with general information and is neither an offer to sell nor a solicitation of an offer to purchase any security and may not be relied upon for investment purposes.
1.2 Interpretation: In this Agreement, unless the context otherwise requires:
1.2.1 A reference to any document is a reference to that document as varied, novated or replaced from time to time;
1.2.2 The singular includes the plural and conversely;
1.2.3 A reference to a gender includes all other genders;
1.2.4 A reference to a person or entity includes a natural person, a partnership, corporation, trust, association, an unincorporated body, and authority in the interpretation of this Agreement.
1.2.5 Where a word or phrase is defined, its other grammatical forms have a corresponding meaning;
1.2.6 A reference to a Clause or annexes is to a Clause of or annexes to the Agreement;
1.2.7 A reference to any agreement or document is to that agreement or document as amended, novated, supplemented, varied or replaced from time to time, except to the extent prohibited by this or that other agreement or document;
1.2.8 A reference to any legislation or to any provision of any legislation includes any modification or re-enactment of it, any legislative provision substituted for it and all regulations and statutory instruments issued under;
1.2.9 A reference to conduct includes any omission and any statement or undertaking, whether or not in writing;
1.2.10 Mentioning anything after include, includes or including does not limit what else might be included;
1.2.11 The headings and titles in the Agreement are indicative and shall not be deemed part of the Agreement or taken into consideration in the construction of the Agreement; and
1.2.12 Terms defined elsewhere other than in Clause 1.2 shall have the same meanings ascribed to them when used in capital anywhere in the Agreement, unless otherwise specified.
2. ELIGIBILITY CRITERIA
2.1 The Сustomer must satisfy the below mentioned criteria to be eligible to for the Money Back Guarantee:
2.1.1 Be of at least sixteen (16) years of age;
2.1.2 The Сustomer must have paid the full Subscription fee for the 12 consecutive months. If the subscription is paid for less than 12 months in a row for a Plan that is eligible for Money Back Guarantee, then the Company cancels a Money Back Guarantee for such a Customer.
3. SUBSCRIPTION
3.1 The Subscription fee for enrolling in the Service is:
Premium Plan costing $14,99 per month, which may be paid in full, about which the Сustomer is duly informed by the Company;
Platinum Plan costing $24,99 per month or $249,99 per year if billed yearly, which may be paid in full, about which the Сustomer is duly informed by the Company;
(“Subscription fee”), which may be subject to an additional discount at the absolute discretion of the Company.
3.2 The Subscription fee for the Service should be paid in full.
3.3 The Сustomer shall not be eligible for the Money Back Guarantee provided he / she has not made the complete payment of the Subscription fee for all 12 months in a row.
3.4 Subscription difference
3.4.1 Premium Plan
The Premium plan includes creating an on-demand portfolio strategy for Customer’s portfolio size and sending notifications (push and email) about transactions in Customer’s Virtual Portfolio for educational purposes. This plan also includes a 7-days free trial.
3.4.2 Platinum Plan
Platinum Plan includes everything included in the Premium Plan, plus
Money Back Guarantee (details in paragraph 4), if the return on a Customer’s Virtual Portfolio does not exceed return of S&P 500 + 5% for the comparable period.
4. MONEY BACK GUARANTEE
4.1 The Company provides a complete money back guarantee on the annual Subscription fee paid by the Сustomer on Platinum Plan and in certain cases for the Premium plan (for more details, see paragraph 4.2), for the avoidance of the doubt at any time the amount to be returned to the Сustomer excludes any applicable taxes, levies, surcharges and bank commissions associated with the settlement of the Subscription fee, (hereinafter - “Money Back Guarantee”), only in the following circumstances:
4.1.1 The Сustomer has paid the Subscription fee on Platinum Plan for all 12 months in a row.
4.1.2 After 12 months from the Virtual portfolio creation date, the return on the Virtual portfolio does not equal or exceed the return on the S&P 500 + 5% for a comparable period.
4.2 Money back guarantee is provided for the Platinum plan and in certain cases for the Premium plan if it is initiated by the company on special terms. The Money Back Guarantee offer is provided on a targeted basis and not to all Premium subscribers and not at any time - only when the Company decides to do so.
4.3 The Company provides a complete money back guarantee only on the Subscription fee paid by the Сustomer for all 12 months. The company does not promise a refund of your portfolio losses, the company promises that if the virtual portfolio does not reach the specified return, then the Company will refund ONLY the subscription price for 12 months.
4.4 The Company reserves the right to change / revoke / alter / amend the Money Back Guarantee at its discretion.
5. REFUND OF SUBSCRIPTION FEE
5.1 The Company shall not be liable to return the Subscription fee to the Сustomer if any of the terms of this Agreement, in particular, Clauses 4.1 and 4.2 are not complied with.
5.2 Further, the Company shall not return the Subscription fee to the Сustomer in the following circumstances:
5.2.1 The Сustomer who gets rejected by the Сustomer’s prior conduct, misbehavior or discriminatory records.
5.2.2 The Сustomer is seeking the money back guarantee due to fraudulent reasons.
5.3 If the Сustomer believes that he / she is eligible for the Money Back Guarantee, then he / she must email legal@stokhold.com. The email must set forth the following:
5.3.1 The Сustomer’s full name and contact information (address, phone number, email address);
5.3.2 Therefore the Сustomer is entitled to a full refund of Subscription fee, as applicable, pursuant to the terms and conditions in this Agreement.
5.4 The Company shall review the refund of the Subscription fee request and may seek further information or verification relating to the Сustomer, which the Сustomer must provide within 5 days from the Company’s request. If the Company believes that the Сustomer’s request is genuine and that the Сustomer has complied with all the criteria mentioned in Clauses 6.1 and 6.2 of this Agreement, the Company shall within a period of one (1) month refund the complete Subscription fee to the Сustomer.
6. INDEMNITY
6.1 The Сustomer shall indemnify and keep fully indemnified the Company and its associates / agents / sub-agents / employees / directors / representatives at all times against all liabilities, costs (including legal costs on an indemnity basis), expenses, damages and losses including any direct, indirect or consequential losses, loss of profit, loss of reputation and all interest, penalties and other reasonable costs and expenses suffered or incurred by the Company and/or its associate(s) / agent(s) / sub-agent(s) / employee(s) / director(s) / representative(s) arising from any breach of this Agreement by the Сustomer or arising from a breach of any other contract(s) between the Parties and from the actions or omissions of the Сustomer or of any associate(s) / agent(s) / sub-agent(s) / employee(s) / director(s) / representative(s) of the Сustomer in violation of any Applicable Law or custom or trade practice.
6.2 This clause shall survive termination of this Agreement.
7. ENTIRE AGREEMENT
This Agreement constitutes the entire Agreement between the Parties hereto and revokes and supersedes all previous discussions / correspondence and deeds /agreements, memorandum of understanding between the Parties hereto, if any, concerning the matters covered herein whether written, oral or implied;
8. MODIFICATION
The terms contained in this Agreement shall not be altered, modified and / or any additions made to this Agreement except by written amendment duly agreed by the Parties hereto;
9. RECITALS PART OF AGREEMENT
The foregoing recitals are treated as forming an integral part of the operative portion of this Agreement, and this Agreement shall be read, understood and construed accordingly.
10. SEVERABILITY
If any provision of this Agreement is held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby.
11. WAIVER
No failure or delay on the part of either Party in exercising any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right preclude any other or future exercise thereof or exercise of any other right. The remedies herein are cumulative and not exclusive of any remedies provided by law.
12. ASSIGNMENT
The Сustomer shall not be entitled to assign any of its rights and obligations in this Agreement to any Third Party. However, the Company may assign all or part of its rights and obligations to one or more of its affiliates or any successor in interest.
13. CONFIDENTIALITY
13.1 The Parties acknowledge the confidential and proprietary information in accordance with the Agreement, and may share such Confidential Information with each other.
13.2 Whenever applicable, in performing their respective obligations under the Agreement, the Parties shall, at all times, comply with the provisions of “Law on personal data protection” of Republic of Serbia, its implementing rules and regulations, and all other laws and government issuances which are now or will be promulgated relating to data privacy and the protection of personal information
14. GOVERNING LAW AND JURISDICTION
14.1 This Agreement shall be governed by and interpreted in accordance with the laws of the Republic of Serbia. In any judicial action which one party may bring against the other party under this Agreement, the Parties hereto agree to submit to the jurisdiction of the courts of Serbia only, to the exclusion of other courts.
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