Terms & Conditions

General Terms & Conditions of Use for the Valuecruncher website and services

Welcome to Valuecruncher, a service which allows you to explore, create and share public company valuations. These terms of use are intended to explain our obligations as a service provider and your obligations as a user of the service. Please read them carefully. It is likely the terms of use will change over time. It is your obligation to ensure that you have read, understood and agree to the most recent terms available on the Website. These Terms were last updated on 10th April 2008

1. Introduction

These terms & conditions of use apply to all users of the Valuecruncher website (the “website”) and all users of services provided by Valuecruncher Limited (“we”, “us” or “our”). By viewing and using this website you will be deemed to agree to these terms & conditions of use and the privacy statement without qualification. If you do not agree to be bound by these terms and conditions then you must stop accessing and using the website.

2. Liability

We do not give any warranty of accuracy, reliability or fitness for any purpose of the service or any of the of information contained on the website, nor do we endorse the views or opinions given by any third party content provider, to you or any other person. To the fullest extent permitted by law, we and our employees, exclude all responsibility and liability in relation to the website and we will not be responsible for errors or misstatements or be liable, whether in contract, tort (including negligence) or otherwise, for any loss or damage however caused (including direct, indirect, consequential, special or loss of profits). You will take all necessary action to defend and indemnify us, our officers and employees against all costs, expenses and damages incurred in connection with any claim brought by a third party against us arising from a breach by you of any of these terms and conditions or the privacy statement.

3. Disclaimer

The website makes certain information and material available to you as a service, either through us, our suppliers or otherwise. The sole purpose of the calculation is as a broad guide to company value for the user based on the assumptions set out in the calculation and the information supplied by the user. You acknowledge that we do not offer any opinion with respect to the nature, potential value or suitability of any particular transaction or strategy. Use of information contained on the website is at your own risk and we are not responsible for any adverse consequences arising out of such use. The material provided on the website has not been prepared by taking into account the particular objectives, situation or needs of any individual users (except to the extent that such circumstances are included in the calculation inputs). You should assess whether it is appropriate in light of your own objectives, situation and needs. We accept no responsibility for any errors, omissions or misleading information posted by the user on the website and reserve the right to remove such content if we see fit. Users of the website are personally responsible for their postings. The information on the website is available to you as a general information service only. The information displayed is merely indicative, and must not be treated as a formal valuation or as a substitute for professional advice, or opinion or guidance, in relation to the valuation of securities. In particular, the report is not a registered valuers’ report for the purposes of the Trustee Act 1956 (NZ). Nor do we provide investment advice or recommendations to buy or sell securities. The information may be based on assumptions or predictions and is subject to change without notice. For that reason we strongly recommend that you verify all claims made on the website and consult your professional advisors before proceeding with any transaction or acting on any of the information or material provided on the website.

4. Representations

The availability of information on the website does not constitute a recommendation or endorsement by us or any other person regarding any particular business entity, goods, services or transaction. If you enter into any transaction or make any decision subsequent to accessing the website, you do so entirely in reliance on your own judgement and inquiries and not in reliance on any statements, warranties or representations made to you or to any other person by or on behalf of us or our suppliers. You release us from all claims arising from any statement or representation made on the website. Accordingly all express or implied warranties and representations are excluded to the maximum extent permitted by law. If we find, or reasonably suspect, that you are making illegal or unauthorised postings, we reserve the right to withdraw your right to make postings on the website.

5. Copyright and Limited Reproduction Notices

The contents of the website are the copyright of us. No part of the website may be distributed or copied for any commercial purpose and you are not permitted to incorporate the material or any part of it in any other work or publication (whether in hard copy, electronic, link or any other form) without the prior written consent of us. No part of the website may be reproduced, transmitted or stored (including in any other website or electronic form) except that you may print, or download to your hard drive, extracts from the website only for your own personal use. Further, you may not remove or alter any trademarks or logos that appear on any material on the website. Notwithstanding the above, where content on the website is identified as being sourced from Reuters Group Plc (“Reuters”), the content is the intellectual property of Reuters or its third party content providers and the following applies. You may print news items and headlines from Reuters content. You may also email copies of headlines and individual news items from Reuters content to others on an ad hoc basis solely for personal, non-commercial use. Such copies must be clearly branded as originating from Reuters. Any other copying, republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. Reuters and Reuters Sphere Logo are trademarks and registered trademarks of the Reuters Group of companies around the world. For additional information on other Reuters services please visit the Reuters public website – www.reuters.com.

6. Linking

The contents of the website may include links to third party materials (“linked sites”). We will not be responsible for the contents of any linked site or liable for any direct or indirect loss or damage suffered by you from accessing, using, relying on or trading with third parties. These links are provided to you only as a convenience, and the inclusion of any link does not imply our endorsement of the site or any association with their operators. We reserve the right to prohibit links to the website and you agree to remove or cease any link upon our request. Links to securities reports, such as analysts reports, offer documents and investment advice issued by other people are prohibited on this website. You may not frame any part of the website material by including advertising or other revenue generating material.

7. Advertisers

Any dealings with any advertiser appearing on the website are solely between you and the advertiser or other third party. We are not responsible or liable for any part of any such dealings or promotions.

8. Intellectual Property

All title to, and intellectual property rights in, the website, the arithmetic models, the assumptions, and the report (including any software used to produce the report) remains our property (or the property of our licensors) and must not be copied in any way by you.

9. Communication Conditions

If you use any communication tools available through the website (such as any forum, chat room or message centre), you agree only to use such communication tools for lawful and legitimate purposes. You must not use any such communication tool for posting or disseminating any material unrelated to the use of the website or our software or services including (but not limited to): offers of goods or services for sale, files that may damage any other person’s computing devices or software, content that may be offensive to any of our other users, or material in violation of any law (including material that is protected by copyright or trade secrets which you do not have the right to use). When you make any communication on the website, you represent that you own the content of the communication. We are under no obligation to ensure that the communications on the website are legitimate. As with any other web-based forum, you must exercise caution when using the communication tools available on the website. However, we do reserve the right to remove any communication at any time in our sole discretion.

10. Confidentiality

Unless the relevant party has the prior written consent of the other or unless required to do so by law each party will preserve the confidentiality of all information exchanged between the parties (other than information that is public other than through an unauthorised disclosure of a party) in connection with this Agreement. Neither party will, without the prior written consent of the other, disclose or make any such confidential information available to any person, or use the same for its own benefit, other than as contemplated by this Agreement. Each party’s obligations under this clause will survive termination of this Agreement.

11. Privacy

We maintain a privacy policy, which you can read by clicking [here]. You consent to the release of your personal information to us and third parties in connection with the uses contemplated by the privacy policy.

12. Consumer Guarantees Act

If the user is acquiring the service for the purpose of a business, the user agrees that the Consumer Guarantees Act 1993 does not apply to the supply of the service or these terms & conditions.

13. Entire Agreement

These terms & conditions form the entire agreement between the parties relating to the service and use of the website.

14. Governing Law

These terms & conditions and use of the service are governed by and will be construed in accordance with New Zealand law and you agree to submit to the exclusive jurisdiction of the New Zealand courts. The website is operated by us from New Zealand. The information on the website may not be appropriate or available for use in other jurisdictions. If you choose to access the website from a jurisdiction other than New Zealand, you do so on your own initiative and you are responsible for compliance with any applicable laws and regulatory controls of that jurisdiction.

15. Changes to Terms and Conditions

We reserve the right to change these terms and conditions of use and the privacy statement (“Amendments”) at any time by notifying users of the existence of the Amendments through the website. By continuing to access and use the website, you agree to be bound by the Amendments.

16. Waiver

If at any time we do not enforce any of these terms and conditions or grant you time or other indulgence, we will not be construed as having waived that term or our rights to later enforce that or any other term.

17. Severability

If any one or more of these terms & conditions is deemed to be invalid, illegal or unenforceable, the remaining provisions will remain in full force and effect.