Terms of use

Visitors of the KBC Securities World Wide Website (the "Site") should verify that they are legally authorised to access this Site from the country in which the connection has been established.

By accessing the Site, you signify your agreement with and understanding of the following Terms of Use pertaining to both this Site and any material at it.

Unless otherwise stipulated, the various pages and simulations which you consult on this Web site or obtain via interactive applications are provided purely for information purposes. The Web site is updated regularly to the best of our ability. Nevertheless, KBC Securities cannot guarantee that the information, data or publications are up to date, accurate, correct, complete or suitable for a specific objective.

KBC Securities may not be held liable for any damage or loss arising from the access to, consultation or use of the information, data and publications on the Web site and/or the access to and use of the interactive applications, except in cases of proven fraud or serious misconduct on their part.

Ownership of Site and Trademarks

KBC Securities owns and maintains this Site. The trademarks, logos and service marks displayed at this Site are registered trademarks of KBC Securities and others. Nothing at this Site shall be construed as granting, in any manner, any license or right to use any image, trademark, logo or service mark at the Site. The material at this Site is provided to you only for your personal, non-commercial use and display. You may not reproduce, transmit, sell, display, distribute, publish, broadcast, circulate, modify, disseminate, or commercially exploit such materials or any part thereof provided in any manner without the written consent of KBC Securities. No act of downloading or otherwise copying from this Site will transfer title to any software or material at this Site to you. KBC Securities reserves all rights with respect to copyright and trademark ownership of all material at this Site, and will enforce such rights to the full extent of the law. Anything that you transmit to this Site becomes the property of KBC Securities, may be used by KBC Securities for any lawful purpose, and is further subject to disclosure as deemed appropriate by KBC Securities, including to any legal or regulatory authority or governmental agency to which KBC Securities is subject.

Global Dealing Restrictions

KBC Securities makes no representations or warranties that materials at this Site are appropriate for use in all locations, or that transactions, securities, products, instruments or services discussed at this Site are available or appropriate for sale or use in all jurisdictions, or by all investors or counterparties. Those who access this Site do so on their own initiative, and are responsible for compliance with applicable local laws or regulations.

No Offer of Securities - No Investment Advice

Under no circumstances should any material at this Site be used or considered as an offer to sell or buy or a solicitation of any offer to sell or buy the securities or any other instruments, referenced in such materials, of KBC Securities or any other issuer.

KBC Securities is not utilising this Site to provide personal investment or other advice to you or any other party and does not represent that any such securities are suitable for you, and no information or material at this Site is to be relied upon for the purpose of making or communicating investment or other decisions. In addition, you agree to make your own independent evaluation of the investment merits and suitability for you of any such securities and you acknowledge that neither the services nor any of the materials or information at this Site will be used by you as tax or legal advice

It is possible that individual employees of KBC Securities may disagree with opinions or recommendations in materials at this Site.

Disclosure of Interests

KBC Securities or its affiliates may from time to time have or have had interests or positions or traded or acted as market-maker or principal in the securities of the companies mentioned at this Site and may make purchases, sales and/or offers to purchase and/or sell in the open market or otherwise in such securities or in securities or in options, futures or other derivative instruments based thereon. In addition, KBC Securities, its shareholders, directors, officers and/or employees, may from time to time have long or short positions in such securities or in options, futures or other derivative instruments based thereon. One or more directors, officers and/or employees of KBC Securities may be a director of the issuer of the securities mentioned at this Site. KBC Securities or its affiliates may from time to time have or have had a relationship with or provide or have provided corporate finance or other services for, or solicit investment banking or other business from, some companies mentioned at this Site and may occasionally possess material, nonpublic information regarding such companies. Such nonpublic information is not used in the preparation of the materials of this Site.

KBC Securities has put in place effective organizational and administrative arrangements, including a conflicts of interest policy with a view to taking all reasonable steps for preventing conflicts of interest from adversely affecting the clients’ interests, including specific arrangements to manage the conflicts of interest that might arise from the production and/or dissemination of investment research by KBC Securities.

No Reliance

While KBC Securities uses reasonable efforts to obtain information from reliable sources, KBC Securities makes no representations or warranties as to the accuracy, reliability, timeliness or completeness of materials at this Site. Opinions and any other contents at this Site are subject to change without notice. Neither KBC Securities nor any third party data provider is under an obligation to update the materials at this Site to reflect circumstances that may occur after the earlier of the date first appearing on the Site or the date contained in such material.

Price Information / Valuation

Any indicative valuations in materials at this Site are provided for information purposes only. They are not an offer to enter into, transfer and assign or terminate any transaction, or a commitment by KBC Securities to make such an offer. An indicative valuation may differ substantially from an actionable value. Such estimates do not necessarily reflect KBC Securities' internal bookkeeping or theoretical model-based valuations. Certain factors which may not have been assessed for purposes of these valuations, including, for example, notional amounts, credit spreads, underlying volatility, costs of use of capital and profit, may substantially affect a stated valuation. Indicative valuations in materials at this Site may vary significantly from indicative valuations available from other sources. While KBC Securities has obtained the information on which these evaluations are based from sources it believes reliable, KBC Securities makes no representations or warranties with respect to any indicative valuations. Further, the price for any security contained in any section of the Site may differ from the price for that security contained on any other section of the Site.

Material to be Consulted in its Entirety

All materials at this Site are meant to be reviewed in their entirety, including any footnotes, legal disclaimers, restrictions or disclosures, and any copyright or proprietary notices. Any disclaimers, restrictions or disclosure clauses apply to any partial document or material in the same manner as they do the whole, and will be deemed incorporated in the portion of any material or document that you consult or download.

Linked Sites

KBC Securities may provide links to gain access to other World Wide Web sites or Internet locations. KBC Securities provides such links only as a convenience to you and has not tested any software or reviewed any information at any of the Sites linked to this Site. No judgement or warranty is made with respect to the accuracy, timeliness, or suitability of the content of other services of off-Site pages or any other site linked or linking to the Site and KBC Securities and its affiliates take no responsibility therefore. A link to a service or site outside of KBC Securities is not an endorsement of the service or site, its content, or its sponsoring organisation. Your linking to any off-Site pages or other sites is at your own risk.

No Warranty

The materials at this Site are provided "as is" without warranty of any kind, either express or implied, to the fullest extent permissible pursuant to applicable law, including but not limited to the implied warranties of merchantability or fitness for a particular purpose or non-infringement. KBC Securities further assumes no responsibility for, and makes no warranties that, functions contained at this Site will be uninterrupted or error-free, that defects will be corrected, or that the Site or the server that makes it available will be free of viruses or other harmful components. KBC Securities shall not be liable for any damages to, viruses that may infect, or services, repairs or corrections that must be performed on your computer or other property on account of your accessing or use of this Site, including without limitation, damages caused by any performance, failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus or other computer code or programming device that might be used to access, modify, delete ,damage, corrupt, deactivate, disable, disrupt or otherwise impede in any manner the operation of any of your software, hardware, data or property, communications line, failure, theft or destruction or unauthorised access to, alteration of, or use of information whether resulting in whole or in part from negligence or otherwise.

Liability Waiver

Under no circumstances, including but not limited to negligence, shall KBC Securities be liable for any special or consequential damages that result from the access or use of, or the inability to access or use, the materials at this Site, even if KBC Securities or an authorised KBC Securities representative has been advised of the possibility of such damages.


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