These Terms of Service ("Terms") are a legally binding agreement between you ("you", "user" or "users") and FluxGate Ventures LLC ("we", "us", "our", "Caliper Trading"), a limited liability company registered in the State of Washington, and the owners of Caliper Trading. By accessing or using the website at calipertrading.com and any related products, applications, or services (collectively, the "Services"), you agree to be bound by these Terms, our Privacy Policy (including the Notice of Financial Incentive contained therein). If you do not agree, do not use the Services.

1. Eligibility

Users must be at least 18 years old and are legally capable of forming binding contracts. By using the Services, users represent that they meet these requirements.

2. The Services

The service provided by Caliper Trading centers around providing users an AI-powered platform to test financial hypotheses. The Services may include, without limitation, data analysis, content generation, backtesting, automation tools, and any other products or features we offer now or in the future. We reserve the right to modify, suspend, or discontinue any part of the Services at any time without notice or liability.

Certain Services may be offered at no monetary cost. Where the Services are free, they are provided as a financial incentive in exchange for your consent to the collection, use, and sharing of your personal information as described in these Terms and our Privacy Policy (see "Notice of financial incentive"). Your continued access to free Services is contingent on your participation in this program. If you withdraw consent or opt out of data sharing, your access to the affected free Services may be terminated.

All services provided by this site, including but not limited to webchats, the blog, and other documentation, are produced for informational and educational purposes only. It is not financial, investment, trading, legal, or tax advice, and it should not be considered such. Caliper Trading is not liable for any financial decisions users make. Users should note that trading involves substantial risk, including loss of principal.

The core product of this site is a chat powered by a Large Language Model (LLM). While much of the infrastructure of the product surrounding the LLM is designed to ensure accuracy, Caliper Trading makes no guarantees of such.

3. User content and data license

By submitting, uploading, or otherwise providing any content through the Services, including chat messages, backtest configurations, research data, text, documents, files, images, personal information, and any other materials ("User Content"), you grant Caliper Trading a worldwide, perpetual, irrevocable, royalty-free, fully sublicensable and transferable license to use, reproduce, modify, adapt, publish, distribute, process, analyze, and create derivative works from such User Content for any lawful purpose, including but not limited to:

Providing, maintaining, and improving the Services
Developing, training, testing, and evaluating artificial intelligence models, algorithms, and systems (including benchmarks, evaluations, and fine-tuning)
Conducting internal research and development
Generating aggregate, anonymized, or de-identified datasets
Building new products, features, or services
Communicating with you about the Services or related offerings
Complying with legal obligations

This license does not require additional consent, notification, or compensation at the time of use. This license survives termination of your account or cessation of your use of the Services. You represent and warrant that you have all rights necessary to grant this license and that your User Content does not violate any third party's rights.

4. Sharing your information

We may share your information, including User Content, with third parties in the following circumstances:

Service providers: information may be shared with third-party vendors assisting in the operation of the Services, subject to confidentiality obligations.
AI and research partners: anonymized or aggregated data may be shared with research collaborators for AI development.
Legal requirements: information may be disclosed when required by law or to protect the legal rights of Caliper Trading.
Business transfers: in connection with mergers, acquisitions, or asset sales, user information may be transferred as a business asset.
Advertising and commercial partners: we may share your information with third parties, including advertisers, in exchange for compensation or other valuable consideration. This may constitute a "sale" or "sharing" of personal information under applicable privacy laws (see our Privacy Policy for your opt-out rights).

5. Intellectual property

The contents of this website, including any and all text, graphics, or branding, belongs to Caliper Trading. Reading and sharing of links to site content may be done freely, but republication is strictly prohibited.

Output of the Services, including reports, verdicts, charts, files and any other results, is provided for your personal use only. Creating derivative works from output, redistributing it, or publishing it requires our prior written consent.

Output is computed from data licensed to us by third parties. Using output, alone or combined across runs, to reconstruct, reverse engineer, or otherwise derive that underlying data is strictly prohibited and violates applicable law, including the intellectual property and contract rights of our data licensors. We monitor for it and will terminate access and pursue all available remedies.

6. Acceptable use

You agree not to use the Services to:

Submit, upload, or transmit any content that is unlawful, fraudulent, defamatory, obscene, harassing, threatening, or otherwise objectionable
Infringe or misappropriate any third party's intellectual property, privacy, or other rights
Submit content that you do not have the right to share
Transmit malware, viruses, or other harmful code
Attempt to gain unauthorized access to any part of the Services, other users' accounts, or related systems or networks.
Scrape, crawl, or use automated means to access the Services except through APIs we explicitly provide
Reverse-engineer, decompile, or disassemble any part of the Services
Reconstruct, reverse engineer, or derive the underlying licensed data from any output of the Services, including by combining outputs across runs
Interfere with or disrupt the integrity or performance of the Services
Use the Services, or any data obtained from them, to develop or operate a competing product or service.
Circumvent any access controls, rate limits, or usage restrictions
Use the Services for any purpose that violates applicable law or regulation

Violation of these restrictions may result in immediate and permanent termination of your access to the Services without notice or opportunity to cure. We reserve the right to determine, in our sole discretion, whether a violation has occurred.

7. Health data

The Services are not designed to collect, process, or store consumer health data as defined by the Washington My Health My Data Act (RCW 19.373) or similar health privacy statutes. Users should not submit health-related information through the Services. Any health information submitted will be treated as User Content and will not receive any special handling or protections beyond what is described in these Terms and the Privacy Policy.

8. Disclaimer of warranties

THE SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, CALIPER TRADING DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, COMPLETENESS, AND NON-INFRINGEMENT.

Caliper Trading does not warrant that the Services will be uninterrupted, error-free, or secure, or that any results, outputs, or recommendations obtained through the Services will be accurate, reliable, or suitable for any particular purpose. You upload and submit information at your own risk. Any reliance on the output of the Services is at your sole discretion and risk.

9. Limitation of liability

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, CALIPER TRADING'S TOTAL AGGREGATE LIABILITY TO YOU FOR ALL CLAIMS ARISING FROM OR RELATED TO THE SERVICES SHALL NOT EXCEED THE TOTAL AMOUNT YOU HAVE PAID TO CALIPER TRADING FOR USE OF THE SERVICES IN THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO THE CLAIM.

IN NO EVENT SHALL CALIPER TRADING BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS, REVENUE, DATA, GOODWILL, OR OPPORTUNITIES, ARISING FROM OR RELATED TO THE SERVICES OR THESE TERMS, REGARDLESS OF THE THEORY OF LIABILITY (INCLUDING CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE), EVEN IF CALIPER TRADING HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

These limitations apply to all claims, whether based on warranty, contract, tort, or any other legal theory, and whether or not Caliper Trading has been informed of the possibility of such damage. Nothing in these Terms is intended to exclude or limit liability that cannot be excluded or limited under applicable law, including the Washington Consumer Protection Act (RCW 19.86) and other applicable state consumer protection statutes.

10. Indemnification

You agree to indemnify, defend, and hold harmless Caliper Trading and its officers, directors, employees, and agents from and against any claims, damages, losses, liabilities, costs, and expenses (including reasonable legal fees) arising from or related to: (a) your use of the Services; (b) your User Content; (c) your violation of these Terms; or (d) your violation of any third party's rights.

11. Dispute resolution and arbitration

Binding arbitration. Any dispute, claim, or controversy arising from or related to these Terms or the Services ("Dispute") shall be resolved exclusively by binding arbitration administered by the American Arbitration Association ("AAA") under its Commercial Arbitration Rules then in effect. The arbitration shall be conducted by a single arbitrator in Wilmington, Delaware. The arbitrator's decision shall be final and binding and may be entered as a judgment in any court of competent jurisdiction.

Class action waiver. YOU AND CALIPER TRADING AGREE THAT EACH PARTY MAY BRING DISPUTES AGAINST THE OTHER ONLY IN AN INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, CONSOLIDATED, OR REPRESENTATIVE ACTION. THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON'S CLAIMS AND MAY NOT PRESIDE OVER ANY FORM OF CLASS OR REPRESENTATIVE PROCEEDING.

Small claims exception. Either party may bring an individual action in small claims court in lieu of arbitration, provided the claim falls within that court's jurisdictional limits.

Other exceptions. Notwithstanding the above, either party may seek injunctive or equitable relief in any court of competent jurisdiction to prevent the actual or threatened infringement or misappropriation of intellectual property rights.

12. Governing law and jurisdiction

These Terms and any Dispute shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to its conflict of law principles. To the extent that litigation is permitted under these Terms, you consent to the exclusive jurisdiction and venue of the state and federal courts located in New Castle County, Delaware.

Notwithstanding the foregoing, nothing in this section shall prevent the application of any mandatory consumer protection laws of your state of residence that cannot be waived by contract, including the Washington Consumer Protection Act (RCW 19.86). If you are a resident of the State of Washington, you retain any rights granted to you under Washington law that cannot be contractually waived.

13. Usage charges

The Services are paid for from a prepaid account balance. Usage is metered and debited from that balance as it occurs, including language model tokens, compute time, data retrieved, and research papers read. Current rates are listed on the pricing page and may change at any time. The rate in effect when usage occurs applies.

Certain operations, such as data retrieval and backtests, display a quoted price before execution. Quoted prices are estimates and may differ from the final charge due to factors such as data availability and caching.

14. Refunds and account closure

Accounts are funded by a combination of user purchases and credits given by Caliper Trading. Purchases are not refundable while an account is open. Credits do not expire.

Usage is debited from purchased funds first and from credits given by Caliper Trading second. If you close your account, we refund the purchased funds that remain after usage. Credits given by Caliper Trading are forfeited. For example, if you pay $10, hold $50 in total after credits, and use $9, closing the account refunds $1.

15. Termination

We may suspend or terminate your access to the Services at any time, for any reason, without notice. Violation of the Acceptable Use restrictions may result in immediate and permanent termination without opportunity to cure. Upon termination, the rights granted under these Terms will cease, but the following provisions survive: User content and data license, Limitation of liability, Indemnification, Dispute resolution, and Governing law.

16. Severability

If any provision of these Terms is found to be unenforceable or invalid by a court of competent jurisdiction, that provision shall be enforced to the maximum extent permissible, and the remaining provisions shall remain in full force and effect.

17. Entire agreement

These Terms, together with the Privacy Policy, constitute the entire agreement between you and Caliper Trading regarding the Services, and supersede all prior agreements and understandings, whether written or oral.

18. Changes to these terms

We may update these Terms at any time. Changes will be posted on this page with a revised effective date. Your continued use of the Services after any changes constitutes acceptance of the updated Terms.

19. Contact

For questions about these Terms, contact us at legal@fluxgate.ai.