Terms and conditions

Terms and Conditions

LAST UPDATED: January 30, 2019

This website (“Site”) is owned and operated by Andi AG and its affiliates (collectively, “Andi AG”). These Terms of Use (“Terms of Use”) contain the terms, covenants, conditions, and provisions upon which you (also referred to herein as “User”) may access and use this Site and the content, including (without limitation) the ratings, opinions, and other materials, tools, products, services, publications and information (collectively, the “Materials”) displayed on the Site. Andi AG RESERVES THE RIGHT TO CHANGE THE TERMS AND CONDITIONS OF THESE TERMS OF USE UPON NOTICE, WHICH MAY BE GIVEN BY Andi AG POSTING SUCH CHANGE (OR REVISED TERMS OF USE) ON THE SITE, BY E-MAIL, OR BY ANY OTHER REASONABLE WAY. IF A CHANGE IS NOTIFIED BY A POSTING ON THE SITE, IT SHALL BE DEEMED TO TAKE EFFECT WHEN POSTED; IF A CHANGE IS NOTIFIED BY E-MAIL, IT SHALL BE DEEMED TO TAKE EFFECT WHEN THE E-MAIL IS SENT; AND IF A MODIFICATION IS NOTIFIED IN ANY OTHER WAY, IT SHALL BE DEEMED TO TAKE EFFECT WHEN THE RELEVANT NOTICE IS SENT OR ISSUED BY OR ON BEHALF OF Andi AG. YOUR CONTINUED USE OF THIS SITE FOLLOWING NOTICE OF SUCH MODIFICATIONS WILL BE CONCLUSIVELY DEEMED YOUR ACCEPTANCE OF ANY CHANGES TO THESE TERMS OF USE. YOU AGREE THAT NOTICE OF CHANGES TO THESE TERMS OF USE ON THE SITE, DELIVERED BY EMAIL, OR PROVIDED IN ANY OTHER REASONABLE WAY CONSTITUTES REASONABLE AND SUFFICIENT NOTICE.

These Terms of Use shall apply to any Andi AG mobile application or Andi AG content on third-party social media services (e.g., a Andi AG Facebook® page) that reference these Terms of Use. In such instances, the term “Site” shall include the applicable mobile application or Andi AG content whenever that term is used herein.

By using this Site, you acknowledge that you have read these Terms of Use, understand them, and agree to be bound by their terms and conditions. If you do not agree to these Terms of Use, you shall neither access nor use this Site. If you register with this Site, the user agreement you enter into as part of that registration process will, rather than these Terms of Use, govern your use of this Site.
Terms and Conditions

1.     Grant of License. These Terms of Use provide you with a personal, revocable, non-exclusive, non-transferable license to use the Site conditioned on your continued compliance with the terms and conditions of these Terms of Use. You may, on an occasional and irregular basis, print and download Materials on the Site solely for personal and non-commercial use. Only to the extent permitted by an Other Agreement (defined below), you may, on an occasional and irregular basis, print and download Materials on the Site solely for internal business use. In each case, you may not obscure, alter, remove or delete any copyright or other proprietary notices contained in such Materials. With the exception of the foregoing and except as otherwise expressly permitted herein, you may not modify, create derivatives of, copy, distribute, repackage, redistribute, disseminate, broadcast, transmit, reproduce, publish, license, transfer, sell or re-sell, mirror, frame, “deep link”, “scrape”, data mine, or otherwise use or store for subsequent use for any such purpose, any information or Materials obtained from or through this Site, without Andi AG prior written consent. Further, you may not post any Materials from this Site to forums, newsgroups, list serves, mailing lists, electronic bulletin boards, or other websites, without the prior written consent of Andi AG. You warrant to Andi AG that you will not use this Site for any purpose that is unlawful or prohibited by these Terms of Use, including but not limited to attempting or actually (i) disrupting, impairing or interfering with this Site, (ii) collecting any information about other users of this Site, including passwords, accounts or other information, or (iii) systematically extracting data contained on this Site to populate databases for internal or external business use.

2.     Intellectual Property Rights. All Materials contained on the Site, unless otherwise indicated, are protected by law including, but not limited to, Swiss copyright, trade secret, and trademark law, as well as other state, national, and international laws and regulations. The Site, its Materials, layout and design are the exclusive property of Andi AG or its licensors and, except as expressly provided herein, Andi AG does not grant any express or implied right in any such Materials to you. In particular and without limitation, Andi AG owns the copyright in the Site as a collective work and/or compilation, any and all databases accessible on the Site, and in the selection, coordination, arrangement, and enhancement of the Materials on the Site. Andi AG, Werteanalysen, Werteanalysen – Philip Nerb, and all other names, logos, and icons identifying Andi AG products and services are proprietary marks of Andi AG or its licensors. Third-party trademarks displayed on the Site are the property of their respective owners.

3.     Privacy Policy. Please see Andi AG Privacy Policy for a summary of Andi AG personal data collection and use practices with respect to the Site.

4.     Password Policy. Your use of certain portions of the Site requires a password. As part of the registration process, you must select a member name and password and provide Andi AG with accurate, complete and up-to-date information. Anyone with knowledge of your password can gain access to the restricted portions of the Site and the information available to you. Accordingly, you must keep your password secret. By agreeing to these Terms of Use, you agree to be solely responsible for the confidentiality and use of your respective password, as well as for any communications entered through this Site using your password. You will also immediately notify Andi AG if you become aware of any loss or theft of your password or any unauthorized use of your password. Andi AG reserves the right to delete or change a password at any time and for any reason.

5.     Assumption of Risk. You use the Internet solely at your own risk and subject to all applicable local, state, national, and international laws and regulations. While Andi AG has endeavored to create a secure and reliable website, please be advised that the confidentiality of any communication or material transmitted to/from this Site over the Internet cannot be guaranteed. Accordingly, Andi AG and Andi AG suppliers are not responsible for the security of any information transmitted via the Internet, the accuracy of the information contained on the Site, or for the consequences of any reliance on such information. Andi AG and Andi AG suppliers shall have no liability for interruptions or omissions in Internet, network or hosting services. You assume the sole and complete risk of using the Site.

6.     Enforcing Security. Actual or attempted unauthorized use of any of the Site may result in criminal and/or civil prosecution. To maintain the security and integrity of the Site, Andi AG reserves the right to review and record activity on the Site to the extent permitted by law and consistent with Andi AG Privacy Policy. Any information obtained by such reviewing or recording is subject to review by law enforcement organizations in connection with the investigation or prosecution of possible criminal activity on any of the Site. Andi AG will also comply with all court orders involving requests for such information.

7.     Links to Other Websites. Andi AG may provide links, in its sole discretion, to other websites on the World Wide Web for your convenience in locating related information and services. These websites have not necessarily been reviewed by Andi AG and are maintained by third parties over which Andi AG exercises no control. Accordingly, Andi AG and its directors, officers, employees, agents, representatives and suppliers (together, the “Andi AG Parties”) expressly disclaims any responsibility for the content, the accuracy of the information, the quality of products or services provided by or advertised on and/or software downloaded from these third-party websites. Moreover, these links do not imply an endorsement of any third party or any website or the products or services provided by any third party.

8.     Events Beyond Andi AG Control. You expressly absolve and release Andi AG and Andi AG suppliers from any claim of harm resulting from a cause beyond their control, including, but not limited to, the failure of electronic or mechanical equipment or communication lines, telephone or other interconnect problems, computer viruses, unauthorized access, theft, operator errors, severe weather, earthquakes, or natural disasters, strikes or other labor problems, wars, terrorism or governmental restrictions.

9.     Disclosures. Andi AG hereby discloses that no issuer of investment-offers rated by Andi AG has agreed to pay any sum prior to assignment of any rating. Each and every rating is done without special assignment on an independant base. There exist no affiliations between directors of Andi AG and rated entities.

10.   DISCLAIMERS. Andi AG obtains all Materials furnished on the Site from sources believed by it to be accurate and reliable. You expressly agree that (a) the gradings and other opinions provided via the Site are, and will be construed solely as, statements of opinion of the current quality of investment-offers and not statements of current or historical fact as to credit worthiness, investment or financial advice, recommendations regarding credit decisions or decisions to purchase, hold or sell any securities, endorsements of the accuracy of any of the data or conclusions, or attempts to independently assess or vouch for the financial condition of any company; (b) the published investment-analyses provided via the Site do not address any other risk, including but not limited to liquidity risk, market value risk or price volatility; (c) the investment-analyses and other opinions provided via the Site do not take into account your personal objectives, financial situations or needs; (d) each investment-analyses or other opinion will be weighed, if at all, solely as one factor in any investment or credit decision made by or on behalf of you; and (e) you will accordingly, with due care, make your own study and evaluation of each investment decision or security, and of each issuer and guarantor of, and each provider of credit support for, each security or investment-offer that you may consider purchasing, holding, selling, or invest into. Further, you expressly agree that any tools or information made available on the Site are not a substitute for the exercise of independent judgment and expertise. You should always seek the assistance of a professional for advice on investments, tax, the law, or other professional matters. For purposes of this paragraph, Andi AG defines “investment risk” as the risk that an investment-offer may fail meet its aim, contractual, financial obligations as they come due and any estimated financial loss in the event of default.

Andi AG adopts all necessary measures so that the information it uses in analysing an investment-offer is of sufficient quality and from sources Andi AG considers to be reliable, including, when appropriate, independent third-party sources. However, Andi AG is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing Andi AG Materials made available on the Site. Because of the possibility of human or mechanical error as well as other factors, the Site and all related Materials are provided on an "AS IS" and “AS AVAILABLE” basis without representation or warranty of any kind, and THE Andi AG PARTIES MAKE NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, TO YOU OR ANY OTHER PERSON OR ENTITY AS TO THE ACCURACY, RESULTS, TIMELINESS, COMPLETENESS, MERCHANTABILITY, FITNESS FOR ANY PARTICULAR PURPOSE WITH RESPECT TO THE SITE OR ANY RELATED MATERIALS.

Andi AG makes no representation or warranty that any Materials on the Site are appropriate or available for use in any particular locations, and access to them from territories where any of the contents of this Site are illegal is prohibited. If you choose to access this Site from such locations, you do so on your own volition and are responsible for compliance with any applicable local laws, rules and regulations. Andi AG may limit the Site’s availability, in whole or in part, to any person, geographic area or jurisdiction we choose, at any time and in our sole discretion. You agree and acknowledge that no oral or written information or advice given by Andi AG or any of its employees or agents in respect to the Site shall constitute a representation or a warranty unless such information or advice is incorporated into these Terms of Use by a written agreement. FURTHER, THE MATERIALS, MADE AVAILABLE ON THIS SITE MAY INCLUDE INACCURACIES OR TYPOGRAPHICAL ERRORS, AND THERE MAY BE TIMES WHEN THIS SITE OR ITS MATERIALS ARE UNAVAILABLE. MOREOVER, Andi AG MAY MAKE MODIFICATIONS AND/OR CHANGES TO THE SITE OR TO THE MATERIALS DESCRIBED OR MADE AVAILABLE ON THE SITE AT ANY TIME, FOR ANY REASON. YOU ASSUME THE SOLE RISK OF MAKING USE AND/OR RELYING ON THE MATERIALS MADE AVAILABLE ON THE SITE.

INVESTMENT ANALYSES AND Andi AG MATERIALS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES, AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK.

IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE Andi AG INVESTMENT ANALYSES AS SOLE BASIS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER.

TO THE EXTENT PERMITTED BY LAW, THE Andi AG PARTIES DISCLAIM LIABILITY TO ANY PERSON OR ENTITY FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, OR INCIDENTAL LOSSES OR DAMAGES WHATSOEVER ARISING FROM OR IN CONNECTION WITH YOUR ACCESS TO OR USE OF THIS SITE AND ITS MATERIALS OR THE USE OF OR INABILITY TO USE THE SITE OR ANY OF ITS MATERIALS, EVEN IF ANY OF THE Andi AG PARTIES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSSES OR DAMAGES, INCLUDING, BUT NOT LIMITED TO:

(i)

COMPENSATION, REIMBURSEMENT OR DAMAGES ON ACCOUNT OF THE LOSS OF PRESENT OR PROSPECTIVE PROFITS;

(ii)

EXPENDITURES, INVESTMENTS OR COMMITMENTS, WHETHER MADE IN THE ESTABLISHMENT, DEVELOPMENT OR MAINTENANCE OF BUSINESS REPUTATION OR GOODWILL;

(iii)

ANY LOSS OR DAMAGE ARISING WHERE THE RELEVANT FINANCIAL INSTRUMENT IS NOT THE SUBJECT OF A PARTICULAR INVESTMENT RATING ASSIGNED BY Andi AG;

(iv)

LOSS OF DATA;

(v)

COST OF SUBSTITUTE MATERIALS;

(vi)

COST OF CAPITAL;

(vii)

THE CLAIMS OF ANY THIRD PARTY; OR

           (viii)

ANY SUCH DAMAGES ARISING OUT OF OR IN CONNECTION WITH ANY OTHER REASON WHATSOEVER.
        TO THE EXTENT PERMITTED BY LAW, THE Andi AG PARTIES DISCLAIM LIABILITY FOR ANY DIRECT OR COMPENSATORY LOSSES OR DAMAGES CAUSED TO ANY PERSON OR ENTITY, INCLUDING BUT NOT LIMITED TO BY ANY NEGLIGENCE (BUT EXCLUDING FRAUD, WILLFUL MISCONDUCT OR ANY OTHER TYPE OF LIABILITY THAT, FOR THE AVOIDANCE OF DOUBT, BY LAW CANNOT BE EXCLUDED) ON THE PART OF, OR ANY CONTINGENCY WITHIN OR BEYOND THE CONTROL OF, THE Andi AG PARTIES ARISING FROM OR IN CONNECTION WITH YOUR USE OF OR INABILITY TO USE THIS SITE AND ITS MATERIALS.

THE USER MUST USE ALL REASONABLE ENDEAVORS TO MITIGATE ANY LOSS OR DAMAGE WHATSOEVER (AND HOWSOEVER ARISING) AND NOTHING IN THESE TERMS OF USE SHALL BE DEEMED TO RELIEVE OR ABROGATE THE USER OF ANY SUCH DUTY TO MITIGATE ANY LOSS OR DAMAGE.

IN ANY EVENT, TO THE EXTENT PERMITTED BY LAW, THE AGGREGATE LIABILITY OF THE Andi AG PARTIES FOR ANY REASON WHATSOEVER RELATED TO ACCESS TO OR USE OF THIS SITE AND ITS MATERIALS SHALL NOT EXCEED THE GREATER OF (A) THE TOTAL AMOUNT PAID BY THE USER FOR SERVICES PROVIDED VIA THIS SITE PURSUANT TO THESE TERMS OF USE DURING THE TWELVE (12) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO LIABILITY, OR (B) € 10.

11.   Indemnity. You agree to indemnify and hold harmless Andi AG, its suppliers, all of their affiliates, and all of their respective officers, directors, employees, shareholders, representatives, agents, successors and assigns, from and against any damages, liabilities, costs and expenses (including reasonable attorneys’ and professionals' fees and court costs) arising out of any third party claims based on or related to your use of the Site or any breach by you of these Terms of Use.

12.   Submissions. Andi AG welcomes your feedback and suggestions, including about how to improve this Site. We and/or our service providers may make available through the Site certain services to which you are able to post comments, information and/or feedback (for example, message boards, blogs, chat features, messaging and/or comment functionalities). Any ideas, suggestions, information, feedback, know-how, material, and any other content (collectively, “Submissions”) posted and/or received through this Site, will be deemed to include a worldwide, royalty-free, fully paid-up, perpetual, irrevocable, nonexclusive, transferable and fully sublicensable (through multiple tiers) right and license for Andi AG to adopt, publish, reproduce, disseminate, transmit, distribute, copy, use, create derivative works, display, (in whole or part) worldwide, or act on such Submissions without additional approval or consideration, in any form, media, or technology now known or later developed for the full term of any rights that may exist in such Submissions. You hereby waive (a) any claim to the contrary; and (b) any “moral rights” associated with your Submissions. You represent and warrant that you have all rights necessary for you to grant the foregoing license, and that each Submission you provide to the Site complies with all applicable laws, rules and regulations. You are and remain responsible and liable for the content of any Submission. IF YOU DO NOT WISH TO GRANT THE RIGHTS GRANTED IN THIS SECTION, PLEASE DO NOT POST, TRANSMIT OR OTHERWISE MAKE ANY SUBMISSION. ANY SUBMISSIONS MADE ARE DONE SO AT YOUR OWN RISK. Please note, Andi AG does not control any of the User-submitted Submissions, they do not reflect the opinion of Andi AG, and Andi AG does not guarantee their accuracy or endorse any of the opinions expressed. The Andi AG Parties are not responsible or liable for (i) any Submissions, including, without limitation, any errors or omissions in such Submissions, links or images embedded therein, or results obtained by using any of the same; or (ii) any loss or damage caused by the Submissions or resulting from the use (including without limitation republication) or misuse thereof by any third party, including your reliance thereon.

13.   Export Restrictions. No software or any other materials associated with this Site may be downloaded or otherwise exported or re-exported to countries or persons prohibited under relevant export control laws, including, without limitation, countries against which Swizzerland has embargoed goods. You are responsible for compliance with the laws of your local jurisdiction regarding the import, export, or re-export of any such materials. By using and/or downloading any such materials from this Site, you represent and warrant that you are not located in, under the control of, or a national or resident of any such country to which such import, export, or re-export is prohibited or are not a person or entity to which such export is prohibited.

14.   Governing Law. These Terms of Use, including (without limitation) any disputes relating to the Materials on the Site, whether sounding in contract, tort, statute or otherwise, is governed by the laws of Swizzerland, without reference to its conflict of law principles and without regard to the U.N. Convention on Contracts for the International Sale of Goods.

15.   Dispute Resolution. THIS PARAGRAPH CONTAINS ARBITRATION AND CLASS ACTION WAIVER PROVISIONS THAT WAIVE THE RIGHT TO A COURT HEARING OR JURY TRIAL OR TO PARTICIPATE IN A CLASS ACTION. PLEASE REVIEW CAREFULLY. Any dispute, controversy or claim arising out of or relating to these Terms of Use, including any disputes relating to the Materials on Site, whether sounding in contract, tort, statute or otherwise, shall be finally resolved by arbitration. Any claim must be brought in the claimant’s individual capacity, and not as a plaintiff or class member in any purported class, collective, representative, multiple plaintiff, or similar proceeding (“Class Action”). The parties expressly waive any ability to maintain any Class Action in any forum. The arbitration shall be conducted by one arbitrator in German and in accordance with the Swiss ZPO (Art. 197 ff.), which shall administer the arbitration and act as appointing authority. The place of the arbitration shall be Basel, Swizzerland. The decision of the arbitrators shall be binding upon the parties hereto, and the expense of the arbitration (including without limitation the award of attorneys’ fees to the prevailing party) shall be paid as the arbitrators determine. The decision of the arbitrator may be entered by any court of competent jurisdiction. You agree to submit to the jurisdiction of the state and federal courts in Basel, Swizzerland for the purposes of any judicial proceedings to obtain interim relief and in aid of the arbitration or judicial proceedings to confirm or enforce the award. Notwithstanding the foregoing, Andi AG may seek preliminary injunctive relief from a court of law in the event of a breach by you.

16.   Term, Termination. These Terms of Use will take effect when you first commence using the Site. Andi AG reserves the right at any time and for any reason to deny you access to the Site or any portion thereof. Termination will be effective without notice.

17.   Waiver. Failure to insist on strict performance of any of the terms and conditions of these Terms of Use will not operate as a waiver of any subsequent default or failure of performance. No waiver by Andi AG of any right under these Terms of Use will be deemed to be either a waiver of any other right or provision or a waiver of that same right or provision at any other time.

18.   Nature of Relationship. No joint venture, partnership, employment, or agency relationship exists between you and Andi AG as a result of these Terms of Use or your utilization of this Site.

19.   Severability. The provisions of these Terms of Use are severable. If any provision (or part of any provision) shall be determined to be void or unenforceable, the relevant provision or part of any provision shall be deemed deleted and these Terms of Use, and the validity and enforceability of all remaining provisions (and parts of any provisions) of these Terms of Use, shall not be affected.

20.   Entire Agreement/Reservation of Rights. Your rights to use certain Materials available on or through this Site may be subject to separate written agreements with Andi AG (“Other Agreements”). Particular pages or features of this Site with content supplied by Andi AG may have different or additional terms ("Special Terms"), which will be disclosed to you when you access those pages or features, and by accessing or using such pages and features, you will be deemed to have agreed to the applicable Special Terms. If there is a conflict between these Terms of Use and the Special Terms, the Special Terms will govern with respect to such pages or features or content. In the event of a conflict between these Terms of Use and one or more Other Agreements, the terms of such Other Agreement(s) shall govern and control. With the exception of any Special Terms and Other Agreements, these Terms of Use represent the entire agreement between you and Andi AG with respect to your use of and material available on or through the Site, and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral, or written between you and Andi AG with respect to the Site. Any rights not expressly granted herein are reserved. Notwithstanding the foregoing, Andi AG data collection and usage practices in connection with the Site are as set forth in the Privacy Policy.

21.   Third Party Beneficiaries. Andi AG licensors set forth in these Terms of Use are intended to be third party beneficiaries of the terms and conditions set forth herein, as applicable to their respective products and services.

22.   Assignment. You may not assign your rights and obligations under these Terms of Use without the prior written consent of Andi AG. Any assignment made in violation of the foregoing prohibition shall be null and void. These Terms of Use shall be binding upon the parties hereto and their respective successors and permitted assigns.

23.   Sanctions Compliance. You warrant you are familiar with, have complied with, and will comply, in all respects, with the laws and regulations regarding the offering of unlawful or improper inducements .

24.   Claims of Copyright Infringement. The Digital Millennium Copyright Act of 1998 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under Swiss copyright law. If you believe in good faith that materials available on the Site infringe your copyright, you (or your agent) may send Andi AG a notice requesting that Andi AG remove the material or block access to it. If you believe in good faith that someone has wrongly filed a notice of copyright infringement against you, the DMCA permits you to send Andi AG a counter-notice. Notices and counter-notices must meet the then-current statutory requirements imposed by the DMCA. See http://www.copyright.gov/ for details. Notices and counter-notices should be sent by mail to: Andi AG, Chalchofenweg 10, CH-4414 Füllinsdorf; by email to contact@werteanalysen.com. We suggest that you consult your legal advisor before filing a notice or counter-notice.

25.   Contact Information. If you would like to contact Andi AG regarding these Terms of Use or the Privacy Policy, please contact:

Andi AG
Chalchofenweg 10
CH-4414 Füllinsdorf
Phone: +41-41-552-0808
E-mail: contact@werteanalysen.com

If you choose to contact Andi AG via e-mail regarding these Terms of Use or the Privacy Policy, respectively, please mark the subject heading of your e-mail “Terms of Use Inquiry” or “Privacy Inquiry.”

Reprint, Terms and conditions

All rights reserved. Reprint, further distribution and electronical storage of contents are only allowed with the written permission by Andi AG. The analyses' contents must never be changed in any way, since they are proprietory texts. No warranty is given for the contentual correctness of the sources used for the individual analysis. Any possible liability for damages resulting out of the use of a analysis is denied.

Our current Terms and Conditions.