Terms of Service

A. General Terms

1. Company Information

Empirical Markets LLC
8 The Green, Suite B
Dover, DE 19901
United States

2. Eligibility

You must be at least 18 years old and able to enter into a binding contract. If you use the Services for an entity, you represent that you have authority to bind that entity.

3. Services

The Services include websites, dashboards, APIs, data products, analytics, model outputs, research content, account tools, billing tools, and related software and documentation.

4. Third-Party Data and Attribution

Some data made available through the Services is sourced from or derived from third-party providers. Certain OHLC and stock price data in the Services is sourced from Tiingo. Certain macroeconomic data is sourced from the Bureau of Labor Statistics (BLS). Certain New York Fed content is subject to the Federal Reserve Bank of New York Terms of Use and applicable attribution requirements. Certain Treasury, Federal Reserve, SEC, and other public-source data is sourced from or derived from government or third-party sources.

Third-party providers retain their rights in their data. Your use of third-party data is subject to these Terms and any applicable third-party restrictions, attribution requirements, source-identification requirements, and use limitations.

If third-party terms are more restrictive than these Terms, the more restrictive terms apply to that data. Nothing in the Services implies any third-party endorsement of Empirical Markets or the Services.

5. Accounts and Security

You need an account to use the Services. You are responsible for your account, password, API keys, and all activity under them.

You must provide accurate information and keep it current.

You may not share, sell, transfer, or lend your account or credentials.

Your use of the Services is also subject to our Privacy Policy.

6. Subscriptions, Billing, and Refunds

We offer free and paid plans. Plans, features, limits, and pricing may change at any time.

Paid subscriptions renew automatically unless canceled before renewal.

You may request cancellation or a plan change at any time through your account billing tools or by contacting us.

All fees are non-refundable except as required by applicable law. Fees exclude taxes. You are responsible for all applicable taxes.

Upgrades may take effect immediately. Downgrades or cancellations may take effect at the end of the current billing period.

We may suspend or terminate access for failed payments, chargebacks, payment disputes, or overdue balances.

Trials and promotions may be changed or ended at any time.

7. No Financial, Investment, Tax, or Legal Advice

The Services are for informational and educational purposes only. Nothing in the Services is financial, investment, trading, tax, legal, or professional advice.

You are solely responsible for your decisions, actions, trades, investments, compliance, and results.

8. Machine Learning and Model Outputs

Model outputs, scores, indicators, rankings, and predictions are probabilistic, may be wrong, may change, and may degrade over time.

Historical results are not guarantees of future results.

You use all model outputs entirely at your own risk.

9. Prohibited Use

You may not:

• Violate any law, regulation, contract, or third-party right
• Interfere with, disrupt, damage, test, or bypass the Services or their security
• Share, resell, republish, sublicense, redistribute, or commercially exploit the Services except as expressly allowed
• Scrape, crawl, harvest, clone, mirror, reverse engineer, or copy the Services except as expressly allowed
• Use the Services or outputs to build, train, evaluate, improve, or operate a competing product or model
• Use the Services in a fraudulent, abusive, deceptive, or harmful manner

10. Intellectual Property

We and our licensors own all rights in the Services, including all software, models, data pipelines, transformations, analytics, outputs, content, documentation, branding, and design.

These Terms grant only the limited rights expressly stated here. All other rights are reserved.

11. Availability

The Services may be unavailable, delayed, changed, suspended, or discontinued at any time. We do not guarantee uninterrupted, secure, or error-free operation. We do not guarantee 100% uptime or any specific level of availability or performance.

During updates, maintenance, incidents, or issues, the Services may be partially or fully unavailable.

12. Disclaimer of Warranties

To the fullest extent permitted by law, the Services are provided “as is” and “as available.” We disclaim all warranties, express, implied, statutory, or otherwise, including warranties of merchantability, fitness for a particular purpose, title, non-infringement, accuracy, completeness, reliability, availability, performance, and quiet enjoyment. We do not warrant that the Services will be secure, uninterrupted, error-free, current, profitable, or suitable for your needs.

13. Feature Changes

We may add, remove, suspend, replace, or modify any feature, function, content, dataset, model, output, endpoint, limit, or plan at any time.

14. Copyright and DMCA

If you believe content on the Services infringes your copyright, send a DMCA notice to:

Empirical Markets LLC
Email: support@empiricalmarkets.com

15. Limitation of Liability

To the fullest extent permitted by law, Empirical Markets will not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or any loss of profits, revenue, data, goodwill, business opportunity, or trading losses, arising out of or related to the Services.

To the fullest extent permitted by law, our total liability for any claim will not exceed the greater of US$50 or the amount you paid us for the affected Services during the 30 days before the event giving rise to the claim.

16. Indemnification

You will indemnify and hold harmless Empirical Markets and its affiliates, officers, directors, employees, and agents from claims, losses, damages, liabilities, costs, and expenses, including reasonable attorneys’ fees, arising out of your use of the Services, your violation of these Terms, or your products, content, data, or outputs.

17. Suspension and Termination

We may suspend, limit, revoke, or terminate access to any part of the Services at any time, with or without notice, for any actual or suspected violation of these Terms, misuse, nonpayment, legal risk, security risk, abuse, or protection of the Services.

You may stop using the Services at any time.

On suspension or termination, your right to use the affected Services ends immediately. We may disable your account, API keys, credentials, and access.

Suspension or termination does not affect accrued rights, payment obligations, deletion obligations, or any provisions that should survive by their nature.

The sections on intellectual property, prohibited use, disclaimers, liability, indemnification, dispute resolution, payment obligations, data deletion obligations, and any comparable provisions survive.

18. Governing Law and Disputes

These Terms and all disputes related to the Services are governed by Delaware law, excluding conflict-of-laws rules.

Before starting arbitration, the claiming party must send written notice of the dispute and requested relief. The parties will attempt to resolve the dispute informally for 30 days. Written notices under this section must be sent to support@empiricalmarkets.com.

If the dispute is not resolved, it will be resolved exclusively by binding arbitration administered by the American Arbitration Association under its applicable rules, including consumer rules where applicable. The arbitration will be conducted by one arbitrator.

The arbitrator will decide all issues relating to the scope, enforceability, and interpretation of this arbitration provision.

Arbitration will take place in Delaware or remotely by videoconference, at either party’s election, unless applicable law requires otherwise.

All disputes must be brought only on an individual basis. No class, collective, consolidated, representative, or private-attorney-general proceeding is allowed.

Either party may bring an individual action in small claims court if permitted, and either party may seek injunctive or equitable relief in court for intellectual property, confidentiality, misuse, or security issues.

AAA fees will be handled under AAA rules. Each party bears its own attorneys’ fees unless applicable law or the arbitrator provides otherwise.

You may opt out of arbitration by sending written notice to support@empiricalmarkets.com within 30 days after first accepting these Terms. Your notice must include your name and account email and clearly state that you are opting out of arbitration.

If any part of this section is unenforceable, the rest remains enforceable, except that if the class-action waiver is unenforceable, this arbitration section is unenforceable to that extent.

19. Changes

We may change these Terms at any time. The updated Terms are effective when posted unless we state otherwise. Your continued use of the Services means you accept the updated Terms.

20. Miscellaneous

If any provision is unenforceable, the rest remains in effect.

Our failure to enforce any provision is not a waiver.

You may not assign these Terms without our prior written consent. We may assign these Terms at any time.

We are not liable for delays or failures caused by events beyond our reasonable control.

These Terms are the entire agreement between you and Empirical Markets concerning the Services.

21. Contact

Email: support@empiricalmarkets.com

B. Platform UI Terms

This section applies to the web application, dashboards, and visualizations at empiricalmarkets.com.

1. UI License

Subject to these Terms, we grant you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license to use the Platform UI for your own personal or internal business use.

We may suspend, limit, revoke, or terminate this license at any time under Section 17.

2. Charts, Dashboards, and Visuals

You may view and interact with charts, dashboards, indicators, and visual analytics in the UI.

You may not:

• Systematically scrape or harvest UI data or visual content
• Republish our charts or visuals as your own data product
• White-label or rebrand the UI as your own service
• Sell screenshots, exports, recordings, or access to the UI as a stand-alone product

3. Automated UI Access

You may not use bots, crawlers, scripts, or other automated tools to access the Platform UI. If you need programmatic access, use the API.

C. API Terms

This section applies to the API at api.empiricalmarkets.com.

1. API License

Subject to these Terms and any active subscription, we grant you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license to access and use the API through API keys that we issue to you.

We may suspend, limit, revoke, or terminate API access at any time under Section 17.

2. API Data and Outputs

API responses may include public-source data, licensed-source data, proprietary transformations, indicators, analytics, scores, and model outputs.

You receive only a limited right to use those responses as allowed by these Terms. You do not receive ownership of the API or its outputs.

3. Rate Limits and Usage Controls

Your plan may include request limits, endpoint restrictions, monthly quotas, burst limits, concurrency limits, and other usage controls.

API limits may vary by subscription tier, endpoint, account, API key, traffic pattern, system load, abuse risk, or protective operation of the Services.

We may throttle, restrict, suspend, or terminate access, and we may add, remove, or change API limits at any time, with or without notice.

4. Prohibited API Use

You may not:

• Redistribute, resell, expose, wrap, proxy, or sublicense the API or its raw outputs
• Build or operate a competing API, data feed, analytics service, or prediction service using the API or its outputs
• Bypass authentication, quotas, access controls, or rate limits
• Scrape, clone, mirror, or reverse engineer the API or related systems
• Use API data or outputs to train, fine-tune, evaluate, improve, or operate competing machine-learning models or datasets
• Use the API in violation of law or third-party rights

5. Caching and Retention

You may perform short-term caching only as needed for normal internal use and performance.

You may not build a long-term historical database sourced primarily from the API unless we expressly permit it in writing.

When your subscription or access ends, you must delete cached or stored API data that these Terms do not allow you to retain, unless retention is required by law.

You may not retain API data or outputs for resale, redistribution, or competing model development.

6. Monitoring and Enforcement

We may log API usage, monitor traffic, detect abuse, investigate misuse, enforce limits, and protect the Services.

7. API Disclaimer

The API and its outputs are provided as is and as available and may contain errors, omissions, delays, gaps, or inaccuracies. You are solely responsible for how you use them.

8. Non-Binding Summary

• Use the API in your own workflows or products, but do not resell or repackage it
• Stay within limits and controls
• Do not use the API or outputs to build a competing service or model
• You bear all risk of use

D. Research Terms

This section applies to research and educational content at research.empiricalmarkets.com.

1. Informational Use Only

Research content is for informational and educational purposes only and is not financial, investment, tax, legal, or professional advice.

2. No Warranty

We do not guarantee that research content is accurate, complete, current, or reliable.

3. Restrictions

You may read and share links to public research content for your own use. You may not systematically copy, archive, republish, repackage, or sell it without our written permission.