Terms of Service

1. Service Description

1.1 Platform Overview

Borsat provides licensed financial market data from Gulf Cooperation Council exchanges including:

• Qatar Stock Exchange (QSE)
• Saudi Stock Exchange (Tadawul)
• Abu Dhabi Securities Exchange (ADX)
• Dubai Financial Market (DFM)
• Kuwait Stock Exchange (KSE)
• Muscat Securities Market (MSM)
• Bahrain Bourse (BSE)

1.2 Data Types

Our platform provides access to:

• End-of-day (EOD) pricing data
• Historical bars and time series
• Corporate actions and announcements
• Real-time quotes (where licensed)
• Fundamental data and news
• Market indices and analytics

2. Account Registration and Eligibility

2.1 Eligibility Requirements

To use our services, you must:

• Be at least 18 years of age
• Represent a legitimate business entity or professional use case
• Comply with all applicable laws and regulations
• Provide accurate and complete registration information
• Maintain the security of your account credentials

2.2 Account Types

Plan	Monthly Price	API Calls	Features
Academic	Free	500	Non-commercial research and teaching use.
Developer	$49/mo	5000	Prototyping and personal projects.
Startup	$199/mo	25000	Small commercial apps with MENA coverage.
Professional	$499/mo	100000	Funds and serious fintech teams.
Enterprise	Contact sales	Custom	Custom platform — POA pricing, no fixed monthly rate.

3. Acceptable Use Policy

3.1 Permitted Uses

You may use our data for:

• Internal business analysis and decision-making
• Research and academic purposes (with appropriate plan)
• Application development and integration
• Client reporting and portfolio management
• Compliance with your own regulatory requirements

3.2 Prohibited Uses

• Redistributing data without proper licensing
• Selling or commercializing raw market data
• Creating competing market data services
• Sharing API credentials with unauthorized parties
• Circumventing usage limits or access controls
• Reverse engineering our systems or algorithms
• Using data for market manipulation or insider trading

3.3 Rate Limits and Fair Use

To ensure fair access for all users:

• API rate limits are enforced per subscription plan
• Excessive usage may result in temporary throttling
• Bulk downloads must be scheduled during off-peak hours
• Real-time data feeds are subject to connection limits

4. Data Licensing and Attribution

4.1 Exchange Licensing

All market data is provided under licenses from the respective exchanges. You must comply with:

• Exchange-specific terms and conditions
• Attribution requirements for displayed data
• Restrictions on redistribution and commercial use
• Professional vs. non-professional user classifications

4.2 Attribution Requirements

When displaying or using our data, you must include appropriate attribution:

• QSE: "Data provided by Qatar Stock Exchange"
• Tadawul: "Data provided by Saudi Stock Exchange (Tadawul)"
• ADX: "Data provided by Abu Dhabi Securities Exchange"
• DFM: "Data provided by Dubai Financial Market"
• Additional exchange-specific requirements as specified

5. Payment Terms and Billing

5.1 Subscription Billing

• Monthly subscriptions are billed in advance
• Annual subscriptions receive a 10% discount
• Usage overages are billed monthly in arrears
• All prices are in USD unless otherwise specified

5.2 Payment Methods

• Credit cards (Visa, MasterCard, American Express)
• ACH bank transfers for enterprise customers
• Wire transfers for international customers
• Cryptocurrency payments (Bitcoin, USDC) for select plans

5.3 Refund Policy

• 30-day money-back guarantee for new subscriptions
• Prorated refunds for plan downgrades
• No refunds for usage overages or policy violations
• Enterprise contracts have custom refund terms

6. Data Accuracy and Disclaimers

6.1 Data Quality

While we strive for accuracy, we make no warranties regarding:

• Completeness or accuracy of market data
• Timeliness of data delivery
• Availability during market hours
• Freedom from errors or omissions

6.2 Service Availability

Our Service Level Agreements (SLAs) vary by plan:

• Academic/Developer: Best effort, no SLA
• Startup: 99.5% uptime
• Professional: 99.9% uptime with credits
• Enterprise: Custom SLA with penalties

7. Intellectual Property

7.1 Our Rights

• Borsat owns the platform, API, and technology
• Exchanges own their respective market data
• Our algorithms, analytics, and derived data are proprietary
• All trademarks and logos are owned by respective owners

7.2 Your Rights

• Limited license to use data per your subscription plan
• Right to create derivative works for permitted uses
• Ownership of your applications and customer data
• License terminates upon account cancellation

8. Privacy and Data Protection

Your privacy is important to us. Please review our Privacy Policy for details on how we collect, use, and protect your personal information.

8.1 Usage Monitoring

We monitor usage for:

• Compliance with subscription limits
• Security and fraud prevention
• Service optimization and performance
• Regulatory reporting to exchanges

9. Termination

9.1 Termination by You

• Cancel your subscription at any time
• Access continues until the end of your billing period
• Download your data before termination
• No refunds for partial months unless required by law

9.2 Termination by Us

We may terminate your account immediately for:

• Violation of these Terms of Service
• Non-payment of fees
• Fraudulent or illegal activity
• Breach of exchange licensing terms

10. Limitation of Liability

Our total liability to you for any claims arising from these terms or your use of our services shall not exceed the amount you paid us in the 12 months preceding the claim.

11. Indemnification

You agree to indemnify and hold harmless Borsat from any claims, damages, or expenses arising from:

• Your use of our services
• Violation of these terms
• Infringement of third-party rights
• Your applications or customer data

12. Governing Law and Disputes

12.1 Governing Law

These terms are governed by the laws of Delaware, United States, without regard to conflict of law principles.

12.2 Dispute Resolution

• Initial disputes will be resolved through good faith negotiations
• Binding arbitration for claims over $10,000
• Small claims court for smaller disputes
• Arbitration conducted under AAA Commercial Rules

13. Changes to Terms

We may modify these terms at any time. We will:

• Provide 30 days notice of material changes
• Send notifications to your registered email
• Post updates on our website
• Allow you to terminate if you disagree with changes

14. Contact Information