Terms of Service

NOTICE TO ALL USERS: PLEASE READ THIS AGREEMENT CAREFULLY!

BY SELECTING “I ACCEPT”, “OK”, “CONTINUE”, “YES” OR BY INSTALLING OR USING THE SOFTWARE IN ANY WAY, YOU ARE INDICATING YOUR COMPLETE UNDERSTANDING AND ACCEPTANCE OF THE TERMS OF THIS AGREEMENT.

If any software is downloaded from the website (for paid or trial use purposes), this Agreement will be accepted and a contract formed when the end user selects an “I Accept”, “OK” or “Yes” button or box below prior to download or installation. The Agreement is made available on AlgoGURU website as well for your reference.

These are the terms of service for AlgoGURU.hu in relation to the provision of Software Development Services and the selling of Trading Software to the public. These terms shall be deemed accepted by our customers upon their placing an order with us:

1    Definitions

1.1.  “Agreement” means these Terms and Conditions together with the terms of any applicable Development Proposal and Cost Specification Documents;

1.2.  “Customer” means the organization or person who purchases services.

1.3.  “Non-Disclosure Agreement” means an agreement in the form of a signed document by both parties protecting project details or an individual’s ideas which can be either the Customer or AlgoGURU

1.4.  “Delivery Date” means the date on which the Software is first sent to the Customer;

1.5.  “Additional Services” means any additional services requested by the Customer to be provided by AlgoGURU as set out in the Specification;

1.6   “Change Request” means a documented request for a change to the Specification or Software or Project Description or other of the Deliverables made by the Customer or by AlgoGURU;

1.7   “Confidential Information” shall include, but not necessarily be limited to, all information which is not publicly known regarding the business, finances, technology, trade secrets, and any other commercially sensitive information of either party regardless of its nature;

1.8  “Deliverables” means the software, documentation and services to be delivered by AlgoGURU to the Customer in fulfilment of this Agreement as set out in the Specification.

1.9  “Project Plan” means the timing and sequence of events agreed between the Customer and AlgoGURU for the performance of this Agreement, as set out in the Specification;

1.10  “Price” means the fixed aggregate price for the provision of the Deliverables as set out in the Specification;

1.11  “Project” means the software development, delivery and testing of the Software and the other Deliverables;

1.12  “Software” means the source programs, compiled object code of the software, scripts and installation programs being developed or customized by AlgoGURU for the Customer, as set out in the Specification, including any enhancements and modifications made;

1.13  “System” means collectively the Software;

1.14  “Warranty Period” means the period of 28 days immediately following the final delivery of the product.

 2   General

2.1  These Terms and Conditions shall apply to all contracts for the supply of services by AlgoGURU to the Customer.

2.2  Before the commencement of any software development services, the Customer shall provide AlgoGURU with a detailed description of the project which shall be subject to these Terms and Conditions.

2.3  AlgoGURU shall use all reasonable endeavours to complete the services within estimated time frames but time shall not be of the essence in the performance of any services.

2.4  All free software downloaded or provided by AlgoGURU will not have any type of support, if support is required we can provide a paid support fee.

2.5  AlgoGURU is under no obligation to support any software purchased from our web store if the customer cannot communicate at a standard in English that will allow us to investigate and resolve any problems the customer may have. AlgoGURU will not offer support in any other languages.

3   The Project

3.1  AlgoGURU shall provide the Customer with software development services for the purpose of creating the Software and other Deliverables as detailed in the Specification, in accordance with the terms and conditions of this Agreement.

3.2  AlgoGURU shall provide to the Customer the Deliverables when requested by the Customer subject to full payment having been received by AlgoGURU for the Deliverables or part of the Deliverables being provided.

3.3  Unless explicitly itemized in the Specification AlgoGURU shall not be responsible for any other services including without limitation software installation, systems integration, data conversion, data import and training.

3.4  For the avoidance of doubt, AlgoGURU shall not be responsible under any circumstances for backup and archiving of the Software or of any data used by the Software on computer equipment belonging to the Customer or the Customer’s appointed computer hosting supplier.

3.5  AlgoGURU act as a software development service and we are not obliged to offer any trading consultancy advice to customers, our role is to simply create software that matches the requirements provided by the customer.

3.6 If during the warranty period the customer modifies the source code of a project that AlgoGURU has created for the customer with our software development service than the warranty for the project will be void, we will only offer warranty for projects where the source code has not been modified.

3.7 If the customer reports a total of 3 (three) consecutive bugs found while using or testing their project and AlgoGURU find these reports to be false and that instead they are the correct operation of the system as defined in the project description that was supplied by the customer than AlgoGURU reserves the right to discontinue any further investigation for bugs requested by the customer.

4   The Customer’s Obligations

The Customer shall:

4.1  Promptly furnish AlgoGURU with such information and documents as it may reasonably request for the proper performance of its obligations under this Agreement;

4.2  Provide the developers of AlgoGURU with all the reasonable information they request in order to investigate any bugs they report to AlgoGURU while using the software. If the customer has paid for custom development and they do not provide AlgoGURU with the information requested to identify the bug in the software, then all refunds will be void.

4.3  It is hereby acknowledged that by legal precedent computer software inherently contains from time to time defects, faults and difficulties however well developed and supported and acceptance of Deliverables under this Agreement shall not be unreasonably withheld due to minor faults in the software.

4.4  The customer must report any bugs or errors in all custom software written by AlgoGURU within our standard warranty period 28 days from the final delivery of the product to the customer, AlgoGURU  will not offer free bug fixing after this period. The customer must also allow the developer’s of AlgoGURU reasonable time to correct any bugs found, refunds are only issued if after 28 days the bug reported is still not fixed.

Our standard warranty period is 28 days from the date of delivery of the product to the customer. 

4.5  The customer must inform AlgoGURU of any issues with installation of the software or issues regarding the screen resolution settings on your computer within 30 days of purchasing the software, we will offer no refunds after this period.

4.6  The customer must be able to communicate in English to a standard to allow any issues to be resolved, we do not offer support in any other language. 

4.7  If a customer has purchased one of our products and cannot communicate in clear English with any problems they may have with setting up or using the software, we reserve the right to refund the full amount that the customer paid for the product and we will no longer provide any support for the product.

5   Change Control

5.1  If the customer requests a change to the project description after the price has been agreed by both parties than the customer will be requoted for the work by AlgoGURU.

5.2  If the customer requests a change to the project description after they have been invoiced via PayPal, but not paid than the invoice will be cancelled and a new invoice will be sent with the requoted price for the additional work.

5.3  If the customer requests a change to the project description after they have paid for the invoice then a new invoice will be sent to the customer for the additional work.

6.0  Refund Terms

14-Day Guaranteed Refund – Lifetime License, Single Fee

6.1 All the digital products from our web store where the customer needs to request a license key for registration have a 14-day guaranteed refund policy, this means that if you purchase a product    and you are unhappy with it, as long as it is within 14-days of the purchase date, we will issue you with a refund with no questions asked.

14-Day Limited Refund – No License, Single Fee

6.2 We offer a 14-day limited refund for digital goods purchased from our web store if the product is faulty or does not resemble the online description, but first, we will ask you if we can apply a fix within a reasonable timeframe. After the 14-day period, you will no longer be eligible to receive a refund.

Custom Development Service

6.3 Refunds for custom development (automated trading robots, indicators or other software) is only valid if after 28 days the final delivered product does not match the project requirements supplied by the customer or a reported bug is not fixed within 28-days from the date that it is first reported.

6.4 Once we have issued you with a refund your downloaded digital product will be deactivated and you will no longer be able to use it, we use a remote activation licensing system to manage all our products and your product will simply stop working on all your PC and VPS machines.

6.5 We will issue a refund to you usually between 1-2 days, but it may take a little longer to reach your account. If you paid using your credit or debit card via PayPal then PayPal will credit your card immediately, but your card company may take up to 48 hours to claim the funds.

7.0  Terms of Payment 

7.1  Payment of sums due by the Customer to AlgoGURU shall be made upon receipt of an invoice from AlgoGURU . All payments under this Agreement shall be made in Euro unless otherwise agreed in writing between the Parties.

7.2  All monetary amounts stated in this Agreement are inclusive of VAT and all PayPal fees.

8.0  Termination

8.1  This Agreement shall continue until completion of the Project unless either party is unhappy with the arrangement for any reason and wishes to terminate the agreement.

8.2  If the agreement is terminated by AlgoGURU then the full amount of sums paid will be refunded to the customer and the customer will not be liable to pursue any additional costs.

8.3  If the agreement is terminated by the customer then AlgoGURU reserves the right to keep all of the sums paid.

9.0  Confidentiality

9.1  Both during this Agreement and after its termination, the parties shall treat as confidential (and shall procure that its personnel and each of them treat as confidential) and shall not (and shall procure that their personnel and each of them does not) other than in the proper provision of the services required to fulfil the Project, use or disclose to any person, firm or company, any Confidential Information belonging to the other party or its Customers, suppliers or customers, nor permit its use or disclosure.

9.2  Each party to this Agreement shall promptly notify the other party if it becomes aware of any breach of confidence by any person to whom it divulges all or any part of the Confidential Information and shall give the other party all reasonable assistance in connection with any proceedings which the other party may institute against such person for breach of confidence.

10.0  Data Protection

10.1  The parties undertake to comply with the provisions of the Data Protection Act 1998 and any related legislation in so far as the same relates to the provisions and obligations of this Agreement.

10.2  It is the sole responsibility of the Customer to ensure that the Software is not used in any way that infringes data protection legislation at the time being. For the avoidance of doubt, AlgoGURU accepts no responsibility whatsoever for any such infringement or alleged infringement.

11.0 Digital Products

11.1 We offer a 14-day guaranteed refund for digital goods purchased from our web store if the product is faulty or does not resemble the online description, but first, we will ask the customer if we can apply a fix within a reasonable timeframe. After the 14-day period, you will no longer be eligible to receive a refund. We encourage our customers to download the trial version first.

11.2 We do not provide the source code for any of the digital products that are available for download unless otherwise stated on the product page.

11.3 Paid Software Product Support – All customers who have purchased one or more of our products are entitled to full product support and can use the product support help desk ticket system, the service level we provide is an 24 hour response time, but during busy periods this may be longer.

11.4 Non-Paid Software Product Support – All customers who have downloaded one of our free or trial products will have limited support only, they cannot submit a support ticket and must post any problems they find to the community forum where a member of the support staff will investigate and they will publish the answer on the forum. 

12.0 Amendments

12.1 This Agreement may not be released, discharged, supplemented, interpreted, amended, varied or modified in any manner except by an instrument in writing signed by a duly authorized officer or representative of each of the parties.

13.0 Entire Agreement

13.1 This Agreement supersedes all prior agreements, arrangements and undertakings between the parties and constitutes the entire agreement between the parties relating to the subject matter of this Agreement. However, the obligations of the parties under any pre-existing non-disclosure agreement shall remain in full force and effect in so far as there is no conflict between the same. The parties confirm that they have not entered into this Agreement on the basis of any representation that is not expressly incorporated into this Agreement.

14.0 Force Majeure

14.1 Neither Party shall be liable for any delay in meeting, or failure to meet, its obligations under this Agreement due to any cause beyond its reasonable control including (without limitation) acts of God, war, riot, malicious acts of damage, fire, acts of any government authority, failure of the public electricity supply, strike, lock-out or labour dispute or apprehension thereof (whether or not the settlement of the matter is at the discretion of the Party in question).

15.0 Schedules

15.1 The provisions of the Schedules to this Agreement shall form part of this Agreement as if set out here.

16.0 Severance

16.1 If any provision of this Agreement is prohibited by law or judged by a court to be unlawful, void or unenforceable, the provision shall, to the extent required, be severed from this Agreement and rendered ineffective as far as possible without modifying the remaining provisions of this Agreement, and shall not in any way affect any other circumstances of or the validity or enforcement of this Agreement.

17.0 Waiver

17.1 No delay, neglect or forbearance on the part of either party in enforcing against the other party any term or condition of this Agreement shall either be or be deemed to be a waiver or in any way prejudice any right of that party under this Agreement. No right, power or remedy in this Agreement conferred upon or reserved for either party is exclusive of any other right, power or remedy available to that party.

18.0 Time of the Essence

18.1 Time shall be of the essence in this Agreement as regards any time, date or period mentioned in this agreement or subsequently substituted as a time, date or period by agreement in writing between the parties.

19.0 Language

19.1 This Agreement is made only in the English language. If there is any conflict in the meaning of the English language version of this Agreement and any version or translation of it in any other language, the English language version shall prevail.

Dispute Resolution

For the purpose of this clause, a dispute shall be deemed to have arisen when one Party serves on the other notice in writing via email stating the nature of the dispute.

Any dispute which may arise between the parties concerning this Agreement shall be determined as follows.

  1. Within 24 hours the representatives of the Parties shall correspond via email and or telephone to attempt to settle the dispute by mutual agreement.
  2. If the dispute remains unresolved and is of a technical nature relating to the functions or capabilities of the Software or any similar or related matter then AlgoGURU reserves the right to offer a full refund, but no additional costs will be paid.
  3. In any other case if the dispute remains unresolved the dispute shall be determined by the court of competent justice in Hungary and the Parties submit to the exclusive jurisdiction of that Court for such purposes.

Platform Software Updates

If the Trading platform publishes an update after 3 months since AlgoGURU has given the customer the final delivery of the custom software and the update causes the software created by AlgoGURU to create an error or a bug than AlgoGURU is under no obligation to fix these errors.

Live Trading Risks

By using our service you confirm you understand live algorithmic trading has many risks and AlgoGURU is not held responsible for any losses incurred by using our service.

These risks include but are not limited to:

  • Design risks; errors in data, incorrect assumptions, logical program errors. Even if you designed a perfect strategy, past performance is no guarantee of future results.
  • Loss of internet connectivity; resulting in disconnections from brokerage, trades not placed, not seeing the results of the algorithm, orders failing to be placed.
  • Poor design of algorithm; resulting in runaway strategies, machine gun orders, run-time errors halting program operation, failure to trade when expected, termination of the algorithm.
  • Unexpected market conditions; resulting in poor fill prices, rapid losses (flash crashes), late exchange openings.
  • Data issues; broken, dirty, delayed or intermittent data connections causing algorithm errors. This includes data inaccuracies (exchanges sometimes publish bad/fictional trades).
  • Execution issues; orders submissions, updates and cancellations could be rejected or delayed. Trades could be disallowed by authorities without warning.
  • Malicious activities; criminal activity could cause your algorithm to fail or your brokerage account to become compromised, leaking personal information, intellectual property or theft of your funds.
  • These events can cause the loss of all funds and holdings in your brokerage account. Algorithmic trading losses can occur faster than in manual trading and you should consult an investment professional to discuss these risks. You should continually monitor the operation of a live trading algorithm to ensure it is running properly.

Every time you use our service you agree that in all cases  AlgoGURU  bears no responsibility for losses incurred, and offers no guarantees or expectations of your algorithm performance or stability.