Terms of Use

In these Terms of Use (the “Terms”), “Business Quant”, “we”, “us” and “our” mean Business Quant, of E-37, Arjun Marg, DLF Phase-1, Gurugram 122002, India. “You” and “your” mean the individual or entity accessing or using the Service.

“Service” means the businessquant.com website, the Business Quant web application, the Business Quant application programming interface (the “API”), any real-time streaming interfaces, all associated documentation, and any successor or replacement service made available by us. “Data” means all datasets, records, figures, tables, charts, classifications, taxonomies, definitions, metadata, documentation, extracts and derived outputs made available through the Service. “Account” means a registered user account on the Service. “Subscription” means a paid plan purchased in respect of an Account. “Credentials” means the username, password, API keys, tokens and any other authentication material issued to or created by you.

Headings are for convenience only and do not affect interpretation. “Including”, “includes” and “in particular” are to be read without limitation. References to a statute include that statute as amended or replaced from time to time. Where these Terms conflict with a separate written agreement signed by both parties, that agreement prevails to the extent of the conflict.

By accessing or using the Service, creating an Account, purchasing a Subscription, issuing an API request, or otherwise indicating your acceptance, you agree to be bound by these Terms and by our Privacy Policy, which is incorporated into these Terms by reference. If you do not accept these Terms, you must not access or use the Service.

You represent and warrant that you are at least 18 years of age and have full legal capacity to enter into a binding contract. The Service is not directed at, and may not be used by, persons under 18.

If you accept these Terms on behalf of a company, partnership, fund, trust or other entity, you represent and warrant that you are authorised to bind that entity, and “you” then means that entity and each individual you permit to access the Service under your Subscription. You remain responsible for the acts and omissions of every such individual as if they were your own.

We may decline to provide, or to continue to provide, the Service to any person or entity at our discretion, including where provision would breach applicable law or our obligations to a third party.

An Account is personal to the individual in whose name it is registered. You must provide accurate, current and complete information when registering and keep it up to date. You must not register an Account using a false identity, an email address you do not control, or on behalf of another person without their authority.

You are solely responsible for maintaining the confidentiality of your Credentials and for all activity occurring under your Account or Credentials, whether or not authorised by you. You must notify us at [email protected] promptly on becoming aware of any unauthorised use, disclosure or suspected compromise of your Credentials, and we will rotate the affected keys.

Except where your plan expressly provides for multiple seats, Credentials may be used by one named individual only. You must not share, sell, lease, sublicense, publish, transfer or otherwise make Credentials available to any other person, embed them in a client-side application or public code repository, or permit concurrent use of a single Account by multiple individuals. We may treat patterns of use consistent with credential sharing, including simultaneous sessions from unrelated locations or devices, as a breach of these Terms.

API keys are issued per Account and are subject to the call, concurrency and data-transfer limits of your plan as published on the pricing page and in the API documentation. We may revoke or reissue keys where necessary for security, to enforce these Terms, or where a key has been exposed.

Multi-seat access, administrative billing and organisation-level controls are available on our Enterprise plan. Where multiple individuals within your organisation require access, you must hold a plan that covers the number of seats in use.

Subject to your compliance with these Terms and, in the case of paid features, to payment of all applicable fees, we grant you a limited, non-exclusive, non-transferable, non-sublicensable and revocable licence, during the term of your Subscription, to access the Service and to use the Data for your own internal business, research and analysis purposes.

Internal use includes the preparation of internal research notes, models, memoranda and presentations, and the incorporation of limited extracts of the Data into your own analytical work product. Where you reproduce an extract, chart or figure derived from the Data in any document, you must attribute it to Business Quant.

All rights not expressly granted in these Terms are reserved. Nothing in these Terms transfers ownership of any part of the Service or the Data to you, and no licence is granted by implication, estoppel or otherwise.

You must not, and must not permit or assist any third party to:

• access or attempt to access any part of the Service, any Account, or any data or systems that you are not authorised to access;
• circumvent, disable, bypass or otherwise interfere with authentication, entitlement checks, paywalls, usage metering, rate limits, quotas or any other technical measure that protects or restricts the Service;
• probe, scan or test the vulnerability of the Service or any associated network, or breach or attempt to breach any security or authentication measure;
• reverse engineer, decompile, disassemble or otherwise attempt to derive the source code, structure, methodology, database schema or underlying ideas of any part of the Service, except to the extent this restriction is prohibited by applicable law;
• use the Service or the Data to build, train, benchmark, validate or improve any dataset, database, index, taxonomy, classification, product, service or machine learning model that competes with the Service or the Data, or to assist a third party in doing so;
• introduce or transmit any virus, worm, malware, or any code, file or program designed to interrupt, damage, disable, overburden or impair the Service;
• impose an unreasonable or disproportionate load on our infrastructure, or interfere with the proper working of the Service or with other users' use or enjoyment of it;
• remove, obscure, alter or falsify any copyright, trade mark, attribution, watermark or other proprietary notice, or any provenance or source information, contained in or accompanying the Data;
• misrepresent the Data, present it as your own compilation, attribute to us any figure we did not publish, or state or imply that we endorse you, your products or your conclusions;
• use the Service in connection with any unlawful activity, including market manipulation, insider dealing, fraud, money laundering, or any breach of securities, competition or data protection law applicable to you;
• use the Service in a manner that infringes or misappropriates the intellectual property, privacy, publicity or other rights of any person;
• resell, lease, rent, distribute, host, timeshare or otherwise make the Service available to any third party as a service bureau or on a managed basis.

Programmatic access to the Data is provided through the API, which is included with every plan and is the only authorised means of automated access. Use of the API is subject to the limits applicable to your plan and to the API documentation, which forms part of these Terms.

You must not use any robot, spider, crawler, scraper, headless browser, scraping service, browser extension, script or other automated means to access, index, monitor, copy, harvest, extract or store any content from the pages of the Service, whether or not you are logged in. Nor may you systematically copy, download or record content from the pages of the Service by manual means for the purpose of assembling, reconstituting or supplementing a dataset. Access by mainstream search engine crawlers in accordance with our robots directives is permitted.

You must not aggregate multiple Accounts, API keys, IP addresses, proxies or devices in order to exceed, evade or fragment the usage limits of your plan, and you must not permit a third party to consume your plan's limits on their own behalf.

We operate technical measures to detect and prevent unauthorised automated access. Where we identify activity of this kind, we may throttle, rate-limit, block, suspend or terminate the Account or Credentials concerned. Where an Account is terminated for unauthorised automated access, no refund of any part of the remaining Subscription term is payable. We may, but are not obliged to, contact you before taking action.

If your intended use requires volumes, coverage or delivery formats that the API does not support, contact us and we will tell you whether a licence is available for it.

The Service and the Data, and all intellectual property rights in them, are and remain the exclusive property of Business Quant and its licensors. This includes copyright, database rights, rights in compilations, trade marks, trade names, logos, trade secrets, know-how and all other proprietary rights, in each case whether registered or unregistered and wherever subsisting.

Business Quant compiles, structures, standardises, classifies, curates and presents information drawn from regulatory filings, company disclosures, licensed market data and published official statistics. The underlying source documents remain the property of their respective issuers or publishers. Our selection, arrangement, extraction, normalisation, verification, classification and presentation of that information, together with the resulting compiled databases, constitute original work in which we hold copyright and database rights. Extraction or re-utilisation of the whole or a substantial part of the contents of those databases, and repeated extraction of insubstantial parts, are prohibited without our written permission.

Our sector and industry classification system, including its structure, codes, industry names, definitions, boundary statements and company mappings, is proprietary to Business Quant and is licensed separately. Details are published on our industry classification page.

The Business Quant name, logo and product names are our trade marks. You may not use them without our prior written consent, except to identify Business Quant as the source of an extract in accordance with these Terms.

Except as expressly permitted in these Terms or under a separate written licence granted by us, you must not:

• redistribute, republish, retransmit, resell, sublicense, syndicate, lend or otherwise make the Data available to any person outside the seats covered by your Subscription;
• display or otherwise make the Data available to the public or to your own clients, users or subscribers, whether on a website, in an application, in a terminal or dashboard, in a paid publication or newsletter, or in any client-facing tool or report offered on a commercial basis;
• store the Data in, or use it to populate, any database, data warehouse, data lake or repository accessible to persons outside your licensed seats;
• create derivative datasets, indices, ratings, scores or benchmarks from the Data for distribution to or use by third parties;
• use the Data as the substance of, or as a principal input to, a product or service that you supply to a third party;
• use the Data to solicit, replicate or displace our commercial relationship with any subscriber or prospective subscriber.

The incorporation of limited extracts into your own analytical work product, with attribution, is permitted under section 4. Where you are uncertain whether an intended use falls within your licence, you should ask us before proceeding.

Because we originate and build our datasets rather than sub-licensing them from an upstream vendor, licences beyond internal use are available and can be structured around your requirements. These include display rights, redistribution rights, embedding into a product, bulk historical delivery, custom coverage, custom fields, multi-seat and enterprise-wide access, and licensing of our industry classification system.

Any such licence requires a separate written agreement with us and the payment of additional fees. No conduct, course of dealing, silence or continued provision of the Service constitutes the grant of such a licence. To discuss terms, contact us.

If you submit ideas, suggestions, feature requests, corrections, error reports or other feedback relating to the Service or the Data, you grant us a perpetual, irrevocable, worldwide, royalty-free, sublicensable and transferable licence to use, reproduce, modify and exploit that feedback for any purpose without restriction, attribution or compensation. You warrant that you are entitled to grant that licence. Nothing in this section obliges us to act on feedback or to treat it as confidential.

We make a free plan available so that the Service, including the scope and quality of the Data, can be evaluated before a Subscription is purchased. The features and data limits of the free plan are set out on the pricing page and may change. Free plan Accounts may be subject to additional restrictions, may be suspended for prolonged inactivity, and are provided without any commitment as to availability.

Promotional or introductory pricing applies only for the period stated in the relevant offer. On expiry of that period the Subscription renews at our then-current standard rate for the applicable plan and billing period unless cancelled beforehand. Promotional offers may not be combined unless expressly stated, and may be withdrawn or varied at any time in respect of future purchases.

Paid plans are offered on monthly or annual billing periods. By purchasing a Subscription you authorise us and our payment provider to charge your nominated payment method for the initial fee and, on each renewal date, for the fee applicable to the next billing period, until the Subscription is cancelled in accordance with section 13.

Automatic renewal. Subscriptions renew automatically at the end of each billing period. Cancellation takes effect at the end of the then-current billing period.

Price changes. We may vary our fees. Any variation applies from your next billing period following notice to you and does not affect a billing period already paid for.

Taxes. Quoted prices are exclusive of taxes. You are responsible for all sales, use, goods and services, value added, withholding and similar taxes and duties arising in connection with your Subscription, other than taxes on our income. Where we are required to collect such taxes, they will be added at checkout or on your invoice.

Failed payments. If a payment is declined or fails, we may retry the charge and will notify you. Access to paid features may be suspended until payment is received. Persistent non-payment may result in termination of the Subscription and the Account.

Payment disputes. Initiating a chargeback or payment dispute without first contacting us may result in immediate suspension of the Account pending resolution. You remain liable for amounts properly due together with any fees charged to us in connection with the dispute.

Currency. Fees are payable in the currency shown at checkout. You are responsible for any conversion charges or foreign transaction fees applied by your card issuer or bank.

You may cancel a Subscription at any time from your subscription settings or by contacting us. On cancellation, the Account continues to have access to the paid features for the remainder of the billing period already paid for, after which it reverts to the free plan or is closed.

Access to the Service and the Data is granted, and the Data is delivered digitally, immediately upon commencement of a Subscription. Accordingly, and to the fullest extent permitted by applicable law, fees are non-refundable and no refund or credit is given in whole or in part for any unused portion of a billing period, for periods during which the Service was not used, or on cancellation or termination for any reason. Downgrading a plan does not entitle you to a refund of the difference in fees for the current billing period.

This position allows us to avoid the costs associated with refund processing and payment disputes, and those savings are reflected in the subscription prices we publish. The free plan is available so that the Service can be evaluated before any payment is made, and we will advise on plan selection on request.

We may, at our sole and absolute discretion, issue a refund in exceptional circumstances. Any refund so issued is made without admission of liability and does not create an obligation to issue a refund in any other case. Where you have a non-excludable statutory right to a refund under the law applicable to you, nothing in this section limits that right.

Payments are processed by a third-party payment provider. Your payment card details are collected and held by that provider and are not stored on our systems. Your use of the payment provider's services is subject to that provider's own terms and privacy policy, and we are not responsible or liable for any act, omission, failure, error or security incident on the part of the payment provider or of any financial institution involved in a transaction.

We rely on third parties for hosting, content delivery, network security, transactional email and analytics. The categories of provider involved, and how personal data is handled, are set out in our Privacy Policy.

The Service contains links to, and references material from, documents and websites operated by third parties, including regulatory filings, company disclosures and official publications. Such material is provided for reference only. We do not control, endorse, adopt or assume responsibility for third-party content, and we make no representation as to its accuracy, completeness, legality or availability. Your access to and use of third-party content is at your own risk and subject to the terms of the relevant third party.

We may add, modify, suspend, limit, deprecate or discontinue any feature, dataset, endpoint or part of the Service at any time. We may impose or vary usage limits. Where a change to the API would materially affect existing integrations, we will endeavour to provide advance notice through the API documentation or by email.

The Service is provided on an “as available” basis. We do not warrant that access will be uninterrupted, timely, secure or error-free. The Service may be unavailable during scheduled or emergency maintenance, or as a result of factors outside our control. Unless a separate written service level agreement has been signed with us, no uptime commitment applies and no service credits are payable.

We take reasonable care in the preparation of the Data. Nevertheless, the Data is derived from source documents prepared by third parties, is subject to restatement, correction and revision by issuers and publishers, and may contain errors, omissions, gaps in coverage and delays. Historical figures may be restated. Classifications, groupings and standardised definitions involve the exercise of judgement.

To the fullest extent permitted by applicable law, the Service and the Data are provided “as is” and “as available” without warranty, condition or representation of any kind, whether express, implied or statutory, including any implied warranty of merchantability, satisfactory quality, fitness for a particular purpose, accuracy, completeness, timeliness, currency, title or non-infringement, and any warranty arising from course of dealing or usage of trade.

We do not warrant that the Data is suitable for use in any regulatory filing, valuation, audit, fairness opinion, index, benchmark or automated trading system, and you are responsible for independently verifying any figure on which you intend to rely. Apparent errors may be reported to us at the address in section 27.

Business Quant is a research and data platform. Nothing available through the Service constitutes investment advice, financial advice, trading advice, tax or legal advice, a recommendation or solicitation to buy, sell or hold any security or other financial instrument, an offer of securities, or an invitation to engage in any investment activity. No content is tailored to the investment objectives, financial situation, risk tolerance or particular needs of any person.

We are not registered as an investment adviser, broker-dealer, research analyst or financial adviser in any jurisdiction, and no fiduciary, advisory or agency relationship arises between us as a result of your use of the Service. All investment decisions are yours alone and are made at your own risk. Past performance is not indicative of future results. You should obtain independent professional advice before making any investment decision.

You are responsible for compliance with all laws, regulations and rules applicable to your access to and use of the Service, including securities laws, market conduct rules, professional obligations, data protection laws and any restrictions imposed by your employer or regulator.

You represent that you are not located in, ordinarily resident in, or organised under the laws of, any country or territory subject to comprehensive trade sanctions, and that you are not a person with whom dealings are prohibited under applicable sanctions or export control laws. You must not export, re-export or make the Service or the Data available in contravention of such laws.

We may suspend or terminate your Account, any Credentials or your access to all or part of the Service, with or without notice, where we reasonably consider that you have breached these Terms; where your use presents a security, legal, regulatory or operational risk to us, to other users or to a third party; where required by law or by order of a competent authority; or where fees remain unpaid.

Suspension for a suspected breach may be immediate where the conduct concerned involves unauthorised automated access, circumvention of technical measures, credential sharing, unauthorised redistribution or display of the Data, or a threat to the security or integrity of the Service. In other cases we will ordinarily notify you and, where the breach is capable of remedy, allow a reasonable opportunity to remedy it.

You may terminate these Terms at any time by cancelling your Subscription and ceasing to use the Service, and may request closure of your Account.

On termination for any reason: all licences granted to you under these Terms terminate immediately; you must cease all use of the Data and, on request, delete or destroy all copies of the Data in your possession or control, other than copies retained in routine backups or as required by law or by a professional record-keeping obligation; and no refund of fees is payable except as expressly provided in section 13. We may delete Account content following termination in accordance with our Privacy Policy.

To the fullest extent permitted by applicable law, Business Quant, its owners, officers, employees, contractors, agents and suppliers shall not be liable for any indirect, incidental, special, consequential, exemplary or punitive loss or damage, or for any loss of profits, revenue, business, anticipated savings, goodwill, opportunity, data or investment losses, howsoever arising and whether in contract, tort (including negligence), breach of statutory duty or otherwise, and whether or not we were advised of the possibility of such loss.

To the fullest extent permitted by applicable law, our aggregate liability arising out of or in connection with these Terms, the Service or the Data, in respect of all claims in aggregate, shall not exceed the total fees actually paid by you to us in the twelve months immediately preceding the event giving rise to the claim, or one hundred United States dollars if no fees were paid.

Each provision of this section operates separately. Nothing in these Terms excludes or limits liability for fraud or fraudulent misrepresentation, for death or personal injury caused by negligence, or for any other liability that cannot lawfully be excluded or limited.

You agree to indemnify, defend and hold harmless Business Quant and its owners, officers, employees, contractors, agents and suppliers from and against all claims, demands, proceedings, losses, damages, liabilities, penalties, costs and expenses, including reasonable legal fees, arising out of or in connection with your breach of these Terms, your use or misuse of the Service or the Data, your infringement or misappropriation of any right of a third party, your breach of any applicable law, or any content or instruction you submit to the Service.

Where we provide you with non-public information relating to the Service, including bulk data files, taxonomy definition files, unreleased features, technical documentation or commercial terms, you must treat that information as confidential, use it only for the purpose for which it was provided, protect it with no less than reasonable care, and not disclose it to any third party without our prior written consent. This obligation does not apply to information that is or becomes public through no breach by you, that you already lawfully held without restriction, or that you are required to disclose by law, provided that you notify us in advance where lawfully able to do so.

We shall not be liable for any delay in performing, or failure to perform, any obligation under these Terms to the extent caused by an event beyond our reasonable control, including act of God, flood, fire, earthquake, epidemic or pandemic, war, terrorism, civil disturbance, industrial action, governmental or regulatory action, failure of public or private telecommunications networks, failure or interruption of a supplier, hosting provider or data source, malicious attack, or interruption of power or internet services.

You may not assign, novate, charge or otherwise transfer any of your rights or obligations under these Terms without our prior written consent. We may assign or novate these Terms, in whole or in part, to an affiliate or in connection with a merger, acquisition, corporate reorganisation or sale of all or substantially all of our assets, and may subcontract the performance of any of our obligations.

We may give notice to you by email to the address registered on your Account, by a message within the Service, or by posting on the Service. Notice is deemed given on the day it is sent or posted. It is your responsibility to keep your registered email address current and to ensure that messages from us are not blocked or filtered. You may give notice to us by email to [email protected] or in writing to E-37, Arjun Marg, DLF Phase-1, Gurugram 122002, India.

We may amend these Terms from time to time. The amended version takes effect on the date it is posted at this URL, and the “Last updated” date at the top of this page will be revised accordingly. Where an amendment is material, we will endeavour to notify Subscription holders by email or through the Service before it takes effect. Your continued access to or use of the Service after an amendment takes effect constitutes acceptance of the amended Terms. If you do not accept an amendment, you must stop using the Service and cancel any Subscription.

These Terms, their subject matter and their formation, and any non-contractual obligations arising out of or in connection with them, are governed by the laws of India. The courts at New Delhi, India shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these Terms or the Service.

Nothing in this section prevents us from applying to any court of competent jurisdiction for injunctive or other interim or equitable relief to protect our intellectual property rights, our confidential information, or the security and integrity of the Service.

To the extent permitted by applicable law, each party agrees to bring claims only in its individual capacity and not as a claimant or class member in any purported class or representative proceeding.

Entire agreement. These Terms, together with the Privacy Policy, the API documentation and any separate written agreement signed by both parties, constitute the entire agreement between us in relation to the Service and supersede all prior communications, representations and understandings, save that nothing limits liability for fraudulent misrepresentation.

Severability. If any provision of these Terms is held to be invalid, illegal or unenforceable, it shall be modified to the minimum extent necessary to make it enforceable or, if modification is not possible, severed. The remaining provisions continue in full force and effect.

Waiver. No failure or delay by us in exercising any right or remedy constitutes a waiver of it, and no single or partial exercise prevents any further exercise. A waiver is effective only if given in writing.

Survival. The sections concerning definitions, intellectual property, licence restrictions, feedback, refunds, disclaimer of warranties, limitation of liability, indemnification, confidentiality, governing law and these general provisions survive termination or expiry of these Terms.

No third-party rights. A person who is not a party to these Terms has no right to enforce any of their provisions.

Relationship of the parties. Nothing in these Terms creates a partnership, joint venture, employment or agency relationship between the parties.

Language. These Terms are made in the English language, which shall be the governing language for all purposes.

Questions relating to these Terms, to the scope of your licence, or to enterprise and redistribution licensing should be directed to [email protected], or through our contact page.