Terms of Service (General Terms and Conditions)

Last updated: 7 July 2026.

1. Scope and provider

1.1 These Terms govern the use of the website computationalvalueinvesting.com and the CVI Terminal subscription service (the “Service”), operated by CVI Technology (“we”, “us”, “Provider”).

1.2 The Service is directed at users who are at least 18 years old. By registering you confirm that you are of legal age and have capacity to contract.

1.3 Deviating terms of the user do not apply unless we expressly agree in writing.

2. What the Service is — and what it is not

2.1 The Service is a research and educational tool. It aggregates public company fundamentals and market data and produces quantitative scores, valuations, rankings and model portfolios across global equity indices.

2.2 No investment advice. The Service does not provide investment advice, investment recommendations, portfolio management, tax or legal advice, or any personal recommendation within the meaning of the WpHG/WpIG/MiFID II. Nothing in the Service is an offer, solicitation or invitation to buy, sell or hold any security or financial instrument.

2.3 Not a regulated financial service. We do not provide licensable banking business or financial/securities services under the KWG, WpIG or WpHG, and we do not hold or manage client money or securities.

2.4 You decide. All content is general information. Any investment decision is made by you, at your own risk and responsibility, ideally after consulting a licensed advisor. Past performance and back-tested or hypothetical results are not indicative of future results; live figures are gross of fees, out-of-sample and not independently audited. Investing involves risk, including the total loss of capital.

3. Registration and account

3.1 Certain features require an account. You must provide accurate information and keep your credentials confidential. You are responsible for activity under your account.

3.2 We may suspend or terminate accounts that violate these Terms, are used fraudulently, or attempt to circumvent the paywall or usage limits.

4. Subscriptions, prices and billing

4.1 Paid features require an active subscription. Current plans and prices are shown on the /pricing page. Prices are stated in EUR and, where applicable, include statutory VAT.

4.2 Payments are processed by Stripe. By subscribing you authorise the recurring charge for the chosen billing period (monthly/annual).

4.3 Auto-renewal. Subscriptions renew automatically for the same period at the then-current price unless cancelled before the end of the current period. You can cancel anytime via the account/billing portal; cancellation takes effect at the end of the paid period.

4.4 Free trial. Where offered, a free trial is available once per customer. Unless cancelled during the trial, it converts into a paid subscription at the end of the trial.

4.5 We may change prices or plans with reasonable notice; changes apply from the next billing period.

5. Right of withdrawal for consumers (Widerrufsrecht)

If you are a consumer (§ 13 BGB), you have a statutory right of withdrawal.

Withdrawal instruction (Widerrufsbelehrung)

You have the right to withdraw from this contract within 14 days without giving reasons. The withdrawal period is 14 days from the day of the conclusion of the contract. To exercise it, inform us (CVI Technology, contact@computationalvalueinvesting.com) by a clear statement (e.g. a letter or email). To meet the deadline it is sufficient to send the notice before the period expires. If you withdraw, we refund all payments received without undue delay and no later than 14 days.

5.1 Immediate performance / loss of the withdrawal right for digital content and services. Because the Service gives you immediate access to digital content and online services, the withdrawal right expires early if you (a) expressly consent to us beginning performance before the withdrawal period ends, and (b) acknowledge that you thereby lose your right of withdrawal (for digital content, § 356 (5) BGB; for services fully performed, § 356 (4) BGB). We obtain this consent at checkout. If performance has only partially occurred when you withdraw, you owe a proportionate amount for the part already provided.

6. Acceptable use and intellectual property

6.1 The Service, its software, models, scores, rankings, database and content are protected by copyright, database rights and trade-secret law and remain our property (or our licensors’). We grant you a limited, non-exclusive, non-transferable, revocable licence to use the Service for your personal, internal purposes during your subscription.

6.2 You may not: (a) scrape, crawl, bulk-download or systematically extract data; (b) resell, redistribute, sublicense or publish the content or make it available to third parties; (c) reverse-engineer, decompile or attempt to derive the models or source; (d) share your account or circumvent the paywall, rate limits or technical protections; (e) use the Service unlawfully or to build a competing product.

6.3 Market and fundamental data may originate from third-party data providers and are subject to their terms; we provide them “as available”.

7. Availability and no warranty

7.1 We aim for high availability but do not guarantee uninterrupted, error-free or timely operation. Data may be delayed, incomplete or inaccurate, and depends on third-party sources.

7.2 The Service is provided “as is” and “as available” without warranty as to accuracy, completeness, fitness for a particular purpose or the results of any use, to the extent permitted by law.

8. Limitation of liability

8.1 We are liable without limitation for intent and gross negligence, for injury to life, body or health, under the German Product Liability Act (ProdHaftG), and where we have given a guarantee.

8.2 For slight negligence, we are liable only for breach of a material contractual obligation (an obligation whose fulfilment makes the proper performance of the contract possible and on which you may regularly rely), and then limited to the foreseeable damage typical for this type of contract.

8.3 Any further liability is excluded. In particular, we are not liable for investment decisions you make or for any trading losses, lost profits or indirect or consequential damage arising from use of the Service, within the limits of Sections 8.1–8.2.

9. Term and termination

9.1 The contract runs for the chosen billing period and renews per Section 4.3. Either party may terminate for good cause. We may terminate or suspend access for material breaches of these Terms.

9.2 On termination your right to use the Service ends; statutory retention duties (Section 7 of the Privacy Policy) remain unaffected.

10. Changes to these Terms

We may amend these Terms where necessary (e.g. legal changes, new features). We will notify registered users of material changes by email or in-app with reasonable notice. If you do not object within six weeks, or continue using the Service after the effective date, the changes are deemed accepted; we will point this out in the notice. Your statutory rights remain unaffected.

11. Final provisions

11.1 Governing law: German law, excluding the UN Convention on Contracts for the International Sale of Goods. For consumers, this does not deprive you of the protection of mandatory provisions of your country of habitual residence.

11.2 Jurisdiction: where permitted, the place of jurisdiction is Bayreuth; mandatory consumer-jurisdiction rules remain unaffected.

11.3 Dispute resolution: EU ODR platform at https://ec.europa.eu/consumers/odr. We are not obliged and not willing to participate in proceedings before a consumer arbitration board (§ 36 VSBG).

11.4 Severability: if any provision is or becomes invalid, the remaining provisions remain in force.