By purchasing any product from RAK Associates, the purchaser automatically agrees to the following:

Web Site Updates

RAK Associates may change or discontinue any aspect of its website at any time, including, its content or features. RAK Associates reserves the right to change the terms and conditions applicable to use of the Products. Such changes shall be effective immediately upon notice, which shall be placed on the website. Use of the Products after notice shall be deemed to be acceptance by User of such changes.

Copyright and License of Product

The Products are the property of RAK Associates and are protected by U.S. and international copyright law and conventions. User acknowledges that access to the Products is limited to the License terms set forth herein and any expansion must be in writing. The granting of the License to access and use the Products is conditioned on User's agreement not to disclose copy, disseminate, redistribute, or publish a Product, or any portion of or excerpts of a Product to any other party.

User shall have the right to use the Products solely for its own internal information purposes. Reproduction of the Products in any form or by any means is forbidden without RAK Associates written permission, including but not limited to:

o  Information storage/retrieval systems;

o  Recordings and/or re-transmittals over any network;

 
o  Use in any Blog, timesharing, service bureau, bulletin board or similar arrangement or public display;

 
o  Posting any Product to any other online service (including bulletin boards or the Internet blogs); or

o  Sublicensing, leasing, selling, offering for sale or assigning the product

-User agrees to maintain all copyright, trademark and other notices contained in such Product.

-User agrees that it shall not use RAK Associates' name or any excerpts from the Products in the promotion of its products or services

-User is not permitted to use the Products if User is professionally involved in securities brokerage or investment banking, or in conducting research in support of securities brokerage or investment banking, where the primary use of the Product would be for making investment decisions

Limit of Liability/Disclaimer of Warranty

Publications/Analysis and Databases are sold “AS IS”, without warranty or any kind express or implied respecting its contents. RAK Associates and its suppliers of information make no representations or warranties with respect to the accuracy or completeness of the contents of this analysis or that particular information is correct, accurate or up-to-date and specifically disclaim any implied warranties for the analysis’s quality, performance, merchantability or fitness for any particular purpose and shall in no event be liable to the purchaser or any other person or entity with respect to any liability, loss or profit or any other commercial damage, including but not limited to special, incidental, consequential, or other damages caused or alleged to be caused directly or indirectly by this analysis.

In no event will RAK Associates be liable for:

 
o  Damages of any kind, including without limitation, direct, incidental or consequential damages (including, but not limited to, damages for lost profits, business interruption and loss of programs or information) arising out of the use of or inability to use RAK Associates' website or the Products, or any information provided on the website, or in the Products.

o  Any claim attributable to errors, omissions or other inaccuracies in the Product or interpretations thereof.

Indemnification

User agrees to indemnify, defend and hold harmless RAK Associates, its affiliates, licensors, and their respective officers, directors, employees and agents from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, arising out of the use of the Products by User or User's account.

Third Party Rights: The provisions regarding Disclaimer of Warranty, Limitation of Liability and Indemnification are for the benefit of RAK Associates, and its licensors, employees and agents. Each shall have the right to assert and enforce those provisions against a User.

General Provisions: Any provision in any memorandum received by RAK Associates in connection with the Product that is inconsistent with, or adds to, the provisions of this Agreement is void. Neither the parties' course of conduct or trade practice will modify the terms of this Agreement. If any provision of this Agreement is determined by a court of competent jurisdiction to be invalid, all other terms and conditions shall remain in full force and effect.

Governing Law: This Agreement and the resolution of any dispute arising hereunder shall all be governed and construed in accordance with the laws of the state of South Carolina, without regard to its conflicts of law principles. User consents to the jurisdiction of the courts of the state of South Carolina.