Terms of Use

PREAMBLE

ASFOS GmbH is a company incorporated according to Swiss law with registered address in Zurich, Switzerland (“ASFOS“). ASFOS is a registered Investment Advisor pursuant to art. 2. para. 1 lit. b in conjunction with art. 3 lit. c No. 4 of the Financial Services Act.

By accessing the website at www.asfos.com (“Website”), you as the visitor (“you” or “your”) are agreeing to be bound by these terms of use (“Terms”) of ASFOS with registered address in Zurich, Switzerland (“we” or “us”), all applicable laws and regulations, and agree that you are responsible for compliance with any applicable local laws. If you do not agree with any of these Terms, you are prohibited from visiting or using this Website. The materials contained in this Website are protected by applicable copyright and trademark law.

We reserve the right to change these Terms at any time in our sole discretion. You can access the latest version of these Terms at any time at www.asfos.com. The Terms in force at the time of your use of the Website apply. Updated Terms are binding on you with respect to your use of the Website on or after the date specified in the updated Terms. If you do not agree to the updated Terms, you must stop using the Website. Your continued use of the Website after the date of the updated Terms will constitute your acceptance of the updated Terms.

1. Eligibility

By visiting or using our Website, you represent and warrant that you (i) have the right, authority, and legal capacity to accept these Terms, (ii) will not visit our Website if the laws of your country of residence and/or citizenship prohibit you from doing so in accordance with these Terms, (iii) are visiting or using our Website for your own personal use.

Further, you represent and warrant that (i) you may not use, or encourage, instigate, promote, facilitate, or instruct others to use, the Website for any illegal, harmful, fraudulent, or infringing use; (ii) you are not subject to personal sanctions issued by the UN, US, EU or Switzerland; and (iii) you are not accessing the Website from one of the countries embargoed or restricted by the Swiss State Secretariat for Economic Affairs (“SECO”).

2. Accessing the Website

We reserve the right to withdraw or modify the Website, and/or any services or materials we provide on the Website, at our sole discretion without notice. We do not guarantee that our Website or any content on it will continuously be available or accessible without interruption. We will not be liable if – for any reason – all or any part of the Website is unavailable at any time or for any period. From time to time, we may restrict access to all or part of the Website.

3. No Offer or Advice

Any content on this Website is for information purposes only and does not constitute an advertisement, a recommendation, an offer or solicitation nor any advice or representation. In particular, any content on this Website shall not be considered investment, legal, accounting or tax advice, or any representation that an investment or strategy is suitable for individual circumstances.

Prior to making investment decisions, investors should conduct a thorough investigation and obtain all necessary professional advice for all matters, including your eligibility to make such investment in terms of the applicable law.

4. Local Legal Restrictions

The content of this Website is not intended to be used or distributed in any jurisdiction where to do so would be illegal or in which ASFOS does not hold the necessary registration or license. Individuals or legal entities in such jurisdictions must not access or use the Website.

5. No Warranty, Limited Liability, Indemnity

ASFOS provides no warranty and makes no representations regarding: (i) the currency, accuracy or completeness of the content; (ii) the results to be obtained by any user of the Website; or (iii) any third-party content accessible on or through the Website.

Except to the extent required by laws or regulations, ASFOS (i) disclaims all warranties and conditions; and (ii) does not warrant that the Website, any content on the Website or its server will be uninterrupted or free from error, defects or harmful components.

Any data or information accessible through this Website have been obtained from sources believed to be reliable. All such information is provided “as is” to the user without warranties of any kind.

The information and opinions in the Website are descriptive of ASFOS as a whole and the services described may not be available to or suitable for all users. The fact that a user accesses the Website does not make him a client or eligible to be a client of ASFOS.

To the extent permitted by law, ASFOS disclaims all liability for losses arising as a direct or indirect result of (i) the content or any links or third-party content; (ii) any errors in or omissions from the Website; (iii) use of or access to the Website; (iv) any inability to access or use the Website for any reason.

You will indemnify and hold harmless ASFOS, its subsidiaries, affiliates, customers, vendors, officers and employees from any liability, damage or cost (including reasonable attorneys. fees and cost) from any claim or demand made by any third-party due to or arising out of your access to the Website, use of the services of ASFOS, violation of the Terms by you, or the infringement by you of any intellectual property or other right of any person or entity.

6. Proprietary Information

The Website and its entire contents, features, and functionality (including but not limited to all information, software, text, displays, images, video, and audio, and the design, selection, and arrangement thereof), are owned by ASFOS, its licensors, or other providers of such material and are protected by Swiss and international copyright, trademark, patent, trade secret, and other intellectual property or proprietary rights laws. You should assume that everything you read or see on the Website is copyrighted or otherwise protected and owned by ASFOS, or a third party who licensed the right to use such content to ASFOS. Unless otherwise expressly noted, nothing that you read or see on the Website or other Website content, or any of the source code or HTML code that ASFOS uses to generate the Website may be copied, reproduced, modified, distributed, transmitted, republished, displayed, or performed for commercial use without the prior written consent of ASFOS, except as provided in the Terms without prior written consent or otherwise permitted by relevant law.

Except if agreed in writing or to the extent necessary to use the Website in accordance with these Terms or permitted by law, you shall not: (i) copy the Website in whole or in part; (ii) exploit any content of this Website; (iii) embed the Website into other products; (iv) remove or obscure any copyright notice of ASFOS or any of its suppliers; (v) use any trademarks, service marks, domain names, logos, or other identifiers of ASFOS or any of its third-party suppliers; or (vi) reverse engineer, decompile, disassemble, or access the source code of the Website.

Nothing on the Website is designed to grant any license or right to use any image, trademark or logo. No act of downloading or otherwise copying from the Website will transfer any legal entitlement to any software or material on the Website to you. ASFOS reserves intellectual property rights (such as copyright and trademark rights) to material on the Website and will enforce such rights to the full extent of the law.

7. Third-Party Content

Reproduction and distribution of third-party content in any form is prohibited except with written permission of the third-party and of ASFOS. Any exclusion of warranty from ASFOS also applies to third-party content. Credit and research ratings are statements of opinions and are not statements of fact or recommendations to purchase, hold or sell securities or financial instruments. They do not address the market value or the suitability for investment purposes and should not be relied on as investment advice.

Links to third-party websites on the Website are provided solely for your convenience as pointers to information on topics that may be useful to users of the Website. ASFOS has no control over the content on such third-party websites nor are such websites monitored by ASFOS. Activating some links to third-party websites on this Website may cause you to leave this Website. No warranties or liability concerning the content of such websites are made, including assurances that is correct, accurate, complete, true, up to date or fit for any particular purpose. Nor does ASFOS warrant that such website or content is free from any claims of copyright or trademark or other infringement of the rights of third parties or that such Website or content is free of viruses or other harmful components. No guarantee as to the authenticity of documents on the internet is given.

Using links to third-party websites provided on this Website is at your sole discretion and risk.

You should note that third-party websites are not subject to the Privacy Policy of ASFOS and ASFOS is not responsible for the policies they apply with regards to collection and treatment of personal data. We recommend that you carefully read the terms of use and data protection

policies governing the third-party website before using it in order to check how it protects personal data and privacy.

8. Performance

The past is not an indication of the future performance of an investment. The value of investments may be subject to fluctuations and investors may not get back the amount invested. Changes in rates of foreign exchange may also cause the value of investments to go up or down.

9. Privacy Policy

Any use of your personal data is governed by our Privacy Policy which can be accessed in its most current version on the Website. By using the Website, you consent to all actions that may be taken by us with respect to your information in compliance with the Privacy Policy.

10. Feedback

ASFOS appreciates and encourages you to provide feedback on our Website. If you provide feedback, you agree that ASFOS is free to use it and may allow others to use it without any restriction or compensation to you. All feedback, comments and other communications relating to the Website can be directed to: info@asfos.com

11. Governing Law and Jurisdiction

These Terms shall be governed and construed in accordance with the substantive laws of Switzerland. The application of the United Nations Convention on Contracts for the International Sale of Goods shall be excluded. Any dispute arising out of or in conjunction with these Terms shall be submitted to the exclusive jurisdiction of the ordinary courts of the city of Zurich, Switzerland.