TERMS & CONDITIONS OF PURCHASE & USAGE  

1. Permitted &Prohibited: Pursuant to this Agreement, User is assigned for the usage of the information provided by Vanguard Business Information LLC (hereinafter is referred as VBI) for reference in making business decisions. The User is prohibited to use provided information to engage in any illegal, unfair or deceptive practices.

2. Ownership of Information: The User agrees that VBI has sole ownership, copyright and all other rights in the Products / Services provided. VBI has the exclusive right and control over the use, arrangement and disposition of information in the reports

3. Use of Information: The Information furnished by VBI is for the User’s internal usage. VBI provides information for decisions related to making business decisions, credit granting, investment, insurance, marketing or business cooperation and evaluation of creditworthiness of business suitable to the USA and International law and practices.

4. Information Confidentiality: The information furnished hereunder shall be kept in strict confidence. The User is not allowed to reproduce, copy, reveal or make accessible in whole or in part, in any manner whatsoever, to the Third Party or any others without the consent of VBI. It means that the User shall neither request information for the use of others, nor permit requests to be made under this Agreement by others.

5. The recognition of risk limit: The User acknowledges that VBI does not bear the cost or warranty of any kind for the problem, including but not limited to the accuracy, adequacy, convertibility, or suitability to the particular purpose of use of the reports. The User also acknowledges that every business decision, to some degree or another, represents the assumption of a risk and that VBI, does not bear or assume the User’s risk, in any manner whatsoever.

6. The recognition for the third party: The User acknowledges that that VBI is not responsible for any damage or loss suffered by the User or any Third party arising out of or caused, in whole or in part, by the acts or omissions of VBI in procuring, compiling, collecting, interpreting, reporting, communicating or delivering the information with or without prior notice of the possibility of a risk and damage caused by the use of reports.

7. The responsibility to the risk: The User acknowledges that there might be risks involved in accepting and using the reports, and that credit insurance may be used if the User is unwilling to accept such risks and that is the User’s internal affairs. VBI is not liable for cost of procurement of substitute products, services, or information, losses, or direct or indirect damages arising from the User's use of the reports.

8. Limitation on liability: The User agrees that VBI is not liable to any damages, losses, or injuries of the User or any Third party. In case of an aggregated liability is imposed, The User agrees that the total liability of VBI never exceeds the amount paid by the User for the services done or furnished hereunder. The User covenants not to sue VBI for any amount larger than the amount stated in this Agreement for any reason whatsoever.

9. Term & Adjustment: This Agreement will be automatically renewed for the same period as agreed herewith. Cancellation or amendment of the agreement will be accepted provided that VBI receives written notification within 30 days of contract ongoing renewal date from the User. All pre-set terms, conditions and amount will be carried forward at each renewal. VBI may revise the fees stated in the Quotations sent to the User and Agreed by User 30 days before the expire date.

10. Governing law and Jurisdiction: This Agreement shall be governed by and interpreted in accordance with the laws of Virginia, USA and International Practices. Any legal action or proceeding with respect to this Agreement or any matters arising out of or in connection with this Agreement or otherwise, and any action for enforcement of any judgment in respect thereof shall be brought to the courts of the Virginia State, USA, and VBI and the User each hereby accepts and respects the jurisdiction of the aforesaid courts.

11.Other Terms and conditions: This Agreement constitutes the entire Agreement of User and VBI with respect to its subject matter. This Agreement is applied for all products and services provided by VBI, and replaces any prior agreements, by oral or in writing, with respect thereto. If any provision of this Agreement is found invalid or unenforceable, the validity of the remaining provisions will not be affected. Any waivers or amendments of this Agreement or any of its provisions must be in writing.

12. Final Clause: This Agreement is not binding upon VBI until being accepted by VBI. VBI may terminate this Agreement at any time and without prior notice in case of a breach thereof by the User and otherwise upon thirty days written notice. VBI reserves the right to modify these Terms & Conditions by giving 30 days’ notice and/or publish it on the website of VBI.