Subscription terms — Business customers

Version 2026-09-30.2 — 30 September 2026

1. Parties and scope

The provider is THELOS SAS, with share capital of EUR 1,000, 10 rue de Penthièvre, 75008 Paris, France, 789 713 310 RCS Paris, VAT FR11789713310, contact@otcvalue.com. Telephone: +33 1 53 63 16 19.

OTCValue, including its free plan, is reserved for professional use. These terms concern paid subscriptions by businesses and self-employed persons acting for their professional activities. Use for personal investing is not offered. Professional status derives from the actual purpose of the contract; it does not depend solely on a plan name, the creation of an organisation or a ticked box. Any mandatory protections applicable to a non-professional or a protected professional are preserved.

The contract comprises the accepted summary, these terms, the Terms of Use (https://otcvalue.com/Legal/1), the plan characteristics retained at subscription, applicable local addenda and, where applicable, the DPA (https://otcvalue.com/Legal/7). Individually negotiated commitments must be recorded in writing. Local addenda are provided before commitment and take precedence, solely on the matters they address, over inconsistent general provisions, without displacing mandatory rules.

2. Ordering and contract formation

The business customer or its authorised representative confirms professional use and selects the plan and, where relevant, the number of licences. Before confirming, it can review and correct the customer's identity, billing contact, essential features, price, taxes, billing frequency and applicable terms.

The first paid subscription is confirmed after acceptance of the documents and confirmation of the first payment. Paid access is activated on the date and terms specified in the confirmation. Payment by a third party does not change the contracting party's identity.

The customer receives a retainable confirmation containing the summary and the accepted contractual versions.

3. Plan, licences and quotas

Included services are those described in the accepted plan. A feature advertised for another plan is not acquired simply by creating an account.

For plans billed per user, the monthly amount is the unit price multiplied by the number of purchased licences. It does not automatically decrease when some licences are unused. A pending invitation or payment by a third party alone does not constitute an active licence.

Valuation quotas belong to the organisation. Their unit, limit, period and reset time zone appear in the summary. The quota counts lines admitted for valuation, not clicks; a request may be accepted only in part when it exceeds the remaining balance. Buying additional licences does not automatically multiply the organisation's quota.

Automatic market monitoring, where included, is an entitlement separate from the manual valuation quota. It is not a promise of order execution or continuous, uninterrupted surveillance.

4. Prices and payment

The summary states prices excluding taxes, applicable taxes and the total payable. Reference prices are fixed in euros. Where payment in another currency is offered, the local amount may vary at each billing date according to the applicable conversion rate; conversion charges borne by the customer are presented before confirmation according to the payment flow. Any fees charged by the customer's financial institution are governed by its relationship with that institution. No fixed amount in another currency is guaranteed unless expressly agreed in writing.

Recurring payment uses the method accepted when ordering, through the specified payment provider. The customer maintains valid billing details and a valid payment method. Invoices and credit notes are made available as indicated at subscription.

5. Billing cycle and plan changes

The contract is entered into for an indefinite term and billed monthly. It continues until terminated; each billing date does not create a new contract. The start date, next billing date and termination arrangements are presented before ordering.

A plan or licence upgrade is accompanied by disclosure of the additional price and effective date. It takes effect only after confirmation and any required payment. A downgrade takes effect at the specified next billing date and does not automatically trigger a refund for the current period, subject to available legal or contractual remedies.

The customer must bring its active users within the selected licence limit before confirming a reduction. Deactivating a user alone does not reduce billing. A catalogue change does not permit retrospective revision of a contractual price.

6. Late payment

Amounts fall due on the agreed dates. Subject to applicable provisions, late payment between professionals gives rise to penalties payable without reminder and a fixed recovery charge of EUR 40 per unpaid invoice. Documented additional costs may be claimed where incurred costs exceed that charge, within legal limits.

For late payments governed by Article L. 441-10 of the French Commercial Code, penalties accrue from the day after the due date until actual payment. The annual rate is the rate applied by the European Central Bank to its most recent refinancing operation plus ten percentage points, and may not fall below the applicable statutory minimum. The rate in force on 1 January applies to the first half-year and that on 1 July to the second. Penalties and the recovery charge are not claimed where a mandatory provision prohibits them. Mandatory rules applicable to an international transaction prevail.

Unpaid renewal and termination of the paid subscription

Where a renewal invoice remains unpaid for a subscription whose initial payment has already been made, the customer receives a grace period of one calendar month from the beginning of the first unpaid renewal period. The deadline appears in subscription management and payment notices. Paid features remain available during that period. Partial payment or a further collection attempt does not restart it. Any special extension granted by THELOS is recorded and communicated.

A notice is sent to the organisation's responsible members and billing contact when non-payment is identified. A reminder is scheduled seven days before the deadline if the debt remains unpaid. Notices specify the deadline and the consequence provided in this clause. Where one recipient holds several of these roles, only one notice is sent to that recipient at each stage.

Termination clause for non-payment: failure to settle renewal invoices by the end of the grace period results in termination of the paid subscription. The parties agree that termination results from non-payment continuing at that deadline, without an additional formal demand, subject to applicable mandatory rules. Full settlement confirmed before termination is executed ends the non-payment procedure.

After termination is confirmed, future billing dates for that subscription cease and the organisation receives the free plan's entitlements. A termination notice is sent to the same categories of recipients. Termination deletes neither organisation data nor invoices already issued; these are dealt with separately. It does not automatically trigger a refund, credit note or additional closing invoice.

A terminated subscription is not reactivated solely by paying an old invoice. Return to a paid plan requires settlement of all outstanding previous subscription invoices, followed by a new subscription and its initial payment. Partial settlement of old invoices is insufficient. Failure to pay for the very first subscription does not entitle the customer to one free month of paid access.

7. Termination, data and switching

THELOS grants no voluntary commercial right of withdrawal to business customers. This provision does not exclude a withdrawal right or another remedy imposed by law in a particular situation. A declaration of professional use cannot remove legally applicable protection.

An authorised member may request termination through subscription management. Confirmation specifies the end date and entitlements retained until then. Ordinary termination takes effect at the end of the stated paid period; legally available termination and rescission grounds remain reserved.

Termination does not transfer the customer's data to THELOS. Return to the free plan preserves organisation data. Account closure or erasure requires a separate request to contact@otcvalue.com, handled manually by THELOS. The request specifies the account, organisation and data or access concerned. THELOS coordinates handling with other members' rights, billing and justified retention, without rejecting an erasure right wholesale merely because a subscription or invoice remains outstanding.

Grids with an export command offer CSV and Excel (.xlsx) formats for exportable data and columns within the customer's authorised scope. Content depends on the report and filters; it is not a full copy of the database or all organisation histories. Downloading account personal data is separate from these business-data exports.

Requests for additional data return or a change of provider are sent to contact@otcvalue.com and handled manually. THELOS checks authority and agrees with the customer the scope, usable format, secure delivery arrangements and applicable schedule. Standard return on request is free. Other organisations' data and authentication secrets are excluded; justified limitations are explained. Current grid exports do not constitute a complete organisation package. Mandatory rights over exportable data and metadata remain applicable; histories that have not been retained are not artificially recreated.

Legally required switching assistance is not conditional on buying an additional service. Adaptation specific to the customer's chosen software may be agreed separately only if optional and distinct from THELOS's obligations. No specific standard-return fee is charged. Ordinary service fees remain governed by the contract until its effective end, subject to mandatory applicable rules.

Erasure timing for backup copies depends on the cycle described in the Privacy Policy and DPA Annex B; Azure SQL's seven-day restore window is not a commitment to physically erase every copy within seven days.

Where Chapter VI of Regulation (EU) 2023/2854 applies, THELOS complies with its switching, assistance, continuity, retrieval and erasure obligations. Contractual restrictions do not deprive the customer of mandatory rights over exportable data.

For switching covered by that chapter, the parties establish the schedule without undue delay: notice before starting may not exceed two months and the transition period is normally limited to thirty calendar days after that notice. The contract remains applicable during transition; its end date is established according to the outcome of the switch and Article 25, without automatic extension of the subscription solely because of the data-retrieval period. The customer then has at least thirty calendar days to retrieve its data. Article 25 extensions and exceptions remain applicable: technical infeasibility must be justified and notified within fourteen working days of the request, with an alternative duration not exceeding seven months; the customer retains its statutory right to extend transition once. THELOS provides reasonable assistance and necessary information, protects the security and continuity required by the Regulation and complies with applicable format and open-interface obligations. Returning files does not guarantee identical calculations in the destination software.

8. Confidentiality, security and support

The confidentiality commitments in the Terms of Use apply to the customer's financial and commercial information. Personal data entrusted for processing on its behalf are governed by the DPA.

Support is provided by email at contact@otcvalue.com, in French and English, on working days in France. The contact form also accepts requests. No quantified response or resolution time or service-availability percentage is guaranteed. Planned maintenance is announced in advance where possible, in accordance with Article 6 of the Terms of Use. These arrangements exclude neither agreed services nor applicable legal obligations.

9. Liability

9.1. Conditions for compensation and customer obligations

Articles 3, 6 and 9 of the Terms of Use define valuation limitations, the professional checks expected of the customer, anomaly handling and liability conditions. They form part of the subscription contract. The service includes no guarantee of complete absence of bugs, financial outcome or agreement with every other valuation, without prejudice to expressly agreed features.

Subject to mandatory applicable provisions, compensation requires proof of a contractual breach attributable to THELOS, actual direct loss and a causal link between them, under statutory rules of evidence. An anomaly, missing data, valuation difference or financial loss alone does not establish all these conditions. Investment, hedging, accounting and transaction decisions remain the customer's.

9.2. Excluded losses and scope of compensation

Subject to Article 9.4, indirect losses are excluded and only direct losses foreseeable when the contract was concluded may be compensated. Lost profit, revenue, opportunities or customers and reputational harm are not automatically classified as indirect: their exclusion on this ground depends on their being genuinely indirect. Financial losses without an established causal link to a breach attributable to THELOS are not covered.

A third party's failure or the customer's error relieves THELOS of liability only to the extent arising from its causal role and applicable law. Diagnosis and correction are not an exclusive remedy and do not make recourse conditional on THELOS acknowledging liability.

9.3. Aggregate compensation cap

Subject to Article 9.4, THELOS's total cumulative compensation payable to the customer under the contract is limited to the higher of EUR 1,000 and the amounts excluding taxes actually paid to THELOS under the contract during the twelve months preceding the first event giving rise to the losses concerned. This is an aggregate cap for compensation claims under the contract, without multiplication by the number of claims, users or legal grounds invoked. Monthly billing does not renew the cap, and the same losses cannot be compensated twice under the Terms of Use and these subscription terms.

The EUR 1,000 floor also applies at the beginning of a subscription when amounts already paid are lower. Free access is subject to the same rule in the Terms of Use. The cap is neither fixed compensation nor an admission of liability; Article 9.1 conditions and proof of the loss amount remain required.

The same cap applies to the customer's contractual claims concerning confidentiality and the DPA to the extent legally permitted, subject to Article 9.4. Legally due price repayments are not capped by this clause.

9.4. Exceptions and other remedies

Exclusions and limits do not apply to THELOS's gross negligence or wilful misconduct, personal injury attributable to it or other cases where applicable law prohibits them. They do not reduce data subjects' mandatory GDPR rights or remedies that cannot legally be limited, neutralise THELOS's own statutory obligations or deprive an essential obligation of its substance. There is no blanket exclusion of data loss.

Compensation rules do not remove legally available rights to performance, price reduction or rescission, or resulting repayments. An outage or a provider's failure is not automatically force majeure; this is assessed against the legal requirements.

10. Changes, applicable law and disputes

THELOS informs the customer in a retainable medium, at least thirty days before their proposed effective date, of price or term changes intended for its ongoing contract. The notice identifies the clauses concerned, new version, effective date and option to refuse and terminate without penalty before that date. An increase does not apply retrospectively to a paid period; its first application cannot precede the first billing date after the notice period. Customer-requested plan changes follow Article 5.

Express acceptance is obtained where legally required or where a change exceeds the contractual change mechanism, particularly for a new service or purpose requiring separate agreement. Publication alone does not change the contract retrospectively. Changes cannot deprive an essential obligation of its substance. Measures strictly necessary for security or a legal obligation may be taken sooner with appropriate notice; this exception does not allow price increases without notice.

The contract is governed by French law, subject to applicable mandatory rules and international conventions. The parties may seek an amicable solution by contacting contact@otcvalue.com; doing so does not remove the right to bring proceedings, particularly urgent proceedings.

Jurisdiction is determined by applicable statutory rules. These terms contain neither exclusive Paris jurisdiction nor mandatory arbitration.

French is the governing contractual language under Article 1 of the Terms of Use. The displayed translation and French version are delivered with the confirmation, without reducing applicable mandatory language protections.