- OWNERSHIP OF SOFTWARE
- RELEASE OF LIABILITY
- DATA LICENSE
- THIRD PARTY COMPLIANCE
- Explanation of No Liability
Hereinafter "SOFTWARE, INFORMATION, AND SERVICES" refers to the Sierra Chart software, the Sierra Chart website, and any and all related or supplied market data, software and information, and trading gateways, and order routing services.
OWNERSHIP OF SOFTWARE
The Sierra Chart software you are installing is the property of the developer, Sierra Chart (SC). You are licensed to use it according to the terms that were specified when you set up your account and when you obtained usage time.
RELEASE OF LIABILITY
By proceeding with the installation and using the SOFTWARE, INFORMATION, AND SERVICES you agree that you will forever release SC of liability for damages whether direct, indirect, consequential, inconsequential, incidental, special, punitive or other damages arising:
- Out of the use of or inability to use the SOFTWARE, INFORMATION, AND SERVICES, web site, or related software components.
- Out of the termination of this agreement or otherwise out of this agreement. This release of liability applies whether arising in tort (including negligence), contract, or other cause of action, and even if SC has been advised of the possibility of such damages. You also further agree to release from any and all liability, any and all organizations and people such as brokers, clearing firms and data providers that the SOFTWARE, INFORMATION, AND SERVICES interacts with or SC does business with.
Sierra Chart is designed to be a reliable and accurate program. However, the SOFTWARE, INFORMATION, AND SERVICES is provided "AS IS" WITHOUT warranty of any kind. NO warranty is provided for the SOFTWARE, INFORMATION, AND SERVICES as to accuracy, as to reliability, as to the suitability for a particular purpose, as to financial results, as to the accuracy or reliability of the trading interface or components within the SOFTWARE, INFORMATION, AND SERVICES, or any other kind of warranty. If you encounter a technical problem, report this to Sierra Chart support. Sierra Chart will make a good faith effort to resolve the problem so long as it is within SC's control. Trading services, Data services, or operating systems that Sierra Chart may interact with are not within SC's control. Therefore, no promise is made that SC will be able to correct the problem. In no event shall the maximum remedy exceed the price paid for the software minus any stated service charges. Refunds must be requested within the stated time period described here.
Data included with Sierra Chart software subscriptions, Data provided by or accessed with Sierra Chart, and website information and data is provided for your own personal use. Under no circumstances shall it be redistributed in any form to others. The data is provided "AS IS" without warranty of any kind.
THIRD PARTY COMPLIANCE
Customer agrees to comply with all Subscriber Agreements, Exchange Rules, and other regulations for any third party with which the Customer performs interactions as part of the use of the Sierra Chart software. Any use of the Sierra Chart software that results in additional fees or penalties levied by a third party, whether through inherent capabilities of the system or through willful misuse, will be paid by the customer to the appropriate party, and in no way is the payment of any of these fees or penalties the responsibility of Sierra Chart. Should Sierra Chart receive information from a third party regarding any non-compliance with the agreed upon rules, then the notification will be forwarded to the Sierra Chart customer, and the notifying body will be informed of such, in order for the notifying body to interact directly with the customer.
If you are using the CQG service within Sierra Chart, then your contract is with CQG for market data.
Explanation of No Liability
Sierra Chart is not responsible for any type of losses that you incur, whether the claim is brought under contract or tort law, arising out of the use of Sierra Chart, out of the use of any trading service used with Sierra Chart, or market data service used with Sierra Chart, or any failure or inability to use any of these services or software.
Reasons why, Sierra Chart is not responsible for any losses:
If you unexpectedly, incurred a profit when using Sierra Chart when you encountered a problem no matter what the cause of the problem, which is often an external service issue, Sierra Chart is not given that profit.
Sierra Chart receives a small monthly payment for its services. As a matter of contract law, at most we would only be liable for the refund of that payment, for the current month.
Sierra Chart has no control over the degree of trading and risk that you are taking. If you are taking a risk which results in a loss of 200 USD, and yet you only pay 20 USD for the software in a month, your loss is out of proportion for what you have paid with Sierra Chart. Sierra Chart has no control over what you are doing with it or any of the external services. Sierra Chart is simply not liable for what you are doing with the Sierra Chart software or any provided services. And you also need to understand in many cases you are using externally provided services which we have no control over in any way.
You have a duty to mitigate losses by taking the appropriate and immediate action to minimize those losses. If you do not take the appropriate actions, Sierra Chart support cannot be held responsible by your failure to promptly and immediately mitigate a situation which may arise in a loss. However, even if you do take prompt action to mitigate your loss, still Sierra Chart is not liable for the other reasons explained within this section.
You have a duty to understand what you are doing, and understand and verify your positions and orders and any other parameters of your trading. If something does not make sense to you, you have a duty to stop what you are doing, and remedy that situation to get into a stable and known state. This may mean contacting your broker by telephone or using other means, to understand the trading situation and bring it under control. For additional details, refer to Procedure to Handle Unexpected Trading Issue.
If you thought you were trading when Sierra Chart was in Trade Simulation Mode and it was not and you incurred a real loss, then it is very important to pay attention to the order confirmations which indicate whether a trade is simulated or Live and other indicators as well within Sierra Chart related to this. We never recommend disabling order confirmations and they are on by default. Only you can disable order confirmations. Additionally, refer to Difference Between Simulated and Non-Simulated Modes.
*Last modified Friday, 15th May, 2020.