These Terms and Conditions apply to your use of and subscription to Fat Tail Investment Research (FTIR) publications and its websites. By using our services you agree to be bound by these Terms and Conditions and they shall constitute an agreement between you and Fat Tail Investment Research Pty Ltd (‘FTIR’, ‘us’, ‘our’, ‘we’).

We are licensed to provide general financial product advice only to retail and wholesale clients on:

• Deposit and payment products limited to:
  (a) basic deposit products; and
  (b) deposit products other than basic products.
• Interests in managed investment schemes, including investor directed portfolio services.
• Investment life insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds.
• Life risk insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds.

By agreeing to these Terms and Conditions you acknowledge you have read and understood our Financial Services Guide.

All information contained on our websites (our websites include any website that is operated by us and offers one or more publications that we publish) and in emails and other electronic services is general advice; your personal circumstances have not been taken into account. If you’re in doubt about the suitability of an investment, it is a good idea to seek professional financial advice.

Access to Information

Users will only have access to the services they are subscribed to. For paid services, only a paying subscriber has access to the subscriber-only section of our websites and emails. Subscribers must not reveal any username(s) or password(s) or forward paid services emails to any third party. The free e-letters can be viewed on their dedicated websites or subscribed to by email.

Use of Copyrighted Material

All material published on our websites is owned or provided under licence by FTIR. Content in the free e-letters may be republished only if you acknowledge the e-letter as the source and provide a link to its dedicated website. Content in our paid subscriptions is not to be reproduced, forwarded or disclosed without our prior written permission.

Privacy

When you provide personal information to FTIR you agree to the terms of our Privacy Policy. Please read our Privacy Policy.

Security Policy and Our Services

When purchasing from FTIR your financial details are passed through a secure server using the latest 128-bit SSL (Secure Sockets Layer) encryption technology. 128-bit SSL encryption is the industry standard, however FTIR does not warrant or represent that it provides a totally secure online service. If you have any questions regarding our security policy, please contact our customer services team at support@fattail.com.au.

Given the nature of electronic and telecommunications services and the fact that FTIR does not own, operate or control these systems, FTIR does not promise to make its subscriptions and other online and electronic services and offerings continuously available or virus- or fault-free. Likewise, we do not promise to make any of our services available by a particular time or method.

Information, opinions, comments and reports have been produced in good faith and based on information collected from a wide range of sources believed to be correct and accurate at the time of publication. FTIR exercises due care in the research, preparation and delivery of its services. However, we do not represent or warrant that any service or content we provide is accurate, reliable, suitable, complete or of a particular quality.

Our Liability to You

Except as expressly required by legislation, we accept no liability to you (including, without limitation, by way of negligence) arising from the provision (or non-provision as the case may be) of any of our services. To the extent permitted by legislation, any liability we may have to you is limited to the resupply of services or refund of any unused portion of your annual subscription (where relevant).

None of FTIR and its employees, directors, agents or associates guarantees the performance of any security or other financial product (or class of financial product) that is reviewed, recommended or opined on in any of our services. We strongly recommend you make your own inquiries and seek professional advice before making any investment decisions.

Cancellation Policy, Pricing and Trial Periods

We reserve the right to refuse subscription. When you subscribe to a FTIR publication you enter into a continuing agreement for that publication, which is charged either yearly, quarterly, or monthly (‘the subscription period’), or as otherwise specified, depending on the offer agreed to.

Each subscription period must be paid for in full prior to starting the subscription period. We will cancel your subscription if the subscription period is not paid in advance, or if you give us written notice that you wish to cancel.

The prices for new subscriptions will be communicated to you prior to subscribing. subscription of FTIR Alliance services is non-refundable after the first 30 days of your confirmed subscription. Our standard pricing is contained in our Financial Services Guide.

Each newsletter may offer a trial period for new subscribers only. If you have subscribed to a newsletter previously and ceased your subscription for any reason, you will not be entitled to another trial period should you decide to resubscribe at a later date. A person deemed to be abusing the trial period feature may be refused subscription to other FTIR products or services. Subscription fees must be paid in full before subscribing. Should you cancel within the trial period (where a trial period is offered) you will receive a full refund unless otherwise stated.

We can review and alter our prices for any subscription period at any time. Any changes to pricing for existing subscribers will take effect when your next subscription period starts. If the price for your next subscription period is to increase we will let you know before it changes.

All prices are quoted in Australian dollars and include any postage.

Refund Policy

If there is a problem with your subscription FTIR will attempt to fix the problem in so far as the problem is within our control. Where the minor problem can’t be fixed within a reasonable time you have the right to cancel the subscription and a refund will be provided for the part of the subscription period that the service was unavailable to you.

We will provide a refund where there is a major issue with our service, such as:

• we have provided the service with an unacceptable level of care and skill;
• the subscription is not fit for the purpose described by us; or
• the subscription is not delivered by the agreed date or within a reasonable time.

We will also consider refunds where there are problems that arise with the subscription that are within our control, for example:

• if our files are corrupt; or
• we are unable to deliver content in accordance with your subscription terms; or
• we are suffering technological problems.

We do not provide refunds for a change of mind, or in circumstances where the problem is outside of our control, such as:

• problems with your internet service provider;
• technology problems arising from your devices; or
• network outages.

Refunds will be issued where applicable on a pro rata basis to the value of the part of the subscription period that has been affected, and will not be provided in situations where content was accessible, even if the content was not accessed by you.

From time to time, FTIR may provide an alternative refund policy for certain newsletters and for a certain period. Details of any applicable refund policy will be made clear at the point of sale. Otherwise, this standard refund policy applies. In circumstances where a refund has been issued, please allow up to 28 days to receive your funds. If you have not received your funds within that time, please contact our customer service team.

Lifetime Subscriptions

Lifetime subscriptions entitle paid subscribers to access to a particular service for as long as the service is published, as long as the applicable maintenance fee is paid. In the rare event where FTIR ceases publication of the particular service, we will always endeavour to replace it with a similar product, at no additional cost to you.

Discounted Introductory Offers

If you have subscribed to a particular service at a discounted introductory price (i.e. a promotional offer for new subscribers), you may not be entitled to similar offers in future relating to the same service.

Portfolio Performance and Returns on Stocks

All returns are hypothetical and based on the percentage change between the stock price at the time of recommendation and sell price or current price (if position is still open). Brokerage and any other associated costs are not taken into account.

Individual subscribers’ returns may vary from our recorded returns, depending on entry and exit dates.

Unlawful Activity

FTIR has the right to investigate any breach or complaint about a violation of these terms and conditions. FTIR will take any necessary action to protect itself and may report any unlawful activity to the relevant legal authorities.

Breaching the Terms and Conditions and Cancellation

Any subscriber or website user found to be in breach of these Terms and Conditions may have their subscription or website access suspended, amended or cancelled. We reserve our right to take whatever action is available to us under the law.

We reserve the right to cancel any subscription at any time, for any reason, regardless of whether a breach of these terms and conditions has occurred. Where we cancel your subscription, the unused portion of your subscription will be refunded on a pro rata basis.

Changes to These Terms and Conditions

We may change all or part of these Terms and Conditions at any time. If we do, the new Terms and Conditions will be posted on our websites. Your subsequent or continued use of our websites and/or receipt of our emails will constitute your acceptance of any changes. If you object to any changes to the Terms and Conditions, your only remedy is to discontinue your use of the website or cancel your subscription with us. As you are bound by these Terms and Conditions, we recommend that you periodically refer to them.

If you have any queries relating to these Terms and Conditions please contact our customer service department. Please email support@fattail.com.au or phone 1300 667 481. Or you can write to us at 387 City Rd, South Melbourne, VIC 3205.

Fat Tail Investment Research Pty Ltd. Registered Office: 387 City Rd, South Melbourne, VIC 3205 (ACN: 117 765 009 ABN: 33 117 765 009) Australian Financial Services Licence: 323988. All content is © 2005– Fat Tail Investment Research Pty Ltd. All Rights Reserved.