Terms of Service
Last updated: July 15, 2025
These Terms of Service (“Terms”) apply to all products and/or services sold or licensed by Three Towers UG (haftungsbeschränkt), a company established under German law, with its registered office at Kirchberg 17, 85283 Geroldshausen, Germany (“Three Towers,” “we,” “us,” or “our”), to the customer (“Customer”).
Each of the aforementioned parties may be referred to individually as a “Party” or collectively as the “Parties”.
1. SERVICES
1.1 Services Identified in Order Confirmation
Three Towers will provide the services identified in one or more order confirmations executed by Three Towers and the Customer (the “Services”), and the Customer will receive a limited, non-exclusive, non-transferable, non-sublicensable, fee-based right of access and use. Each order confirmation (“Order Confirmation”) is incorporated into these Terms by reference. In the event of a conflict between the terms of an Order Confirmation and these Terms, the provisions of the Order Confirmation will prevail.
1.2 Website
The Services are provided by Three Towers on its website at [Website-URL] (the “Website”). For the purposes of these Terms, the content (“Content”) includes any content or information on the Website or created through the use of the Services (“Deliverables”), as well as any written reports sold or otherwise provided to the Customer, and any information the Customer receives from Three Towers’ analysts, regardless of how such information is disclosed to the Customer.
1.3 Updates
Three Towers reserves the right to modify the Services, the Website, and these Terms from time to time. Any modification will become effective upon posting on the Website where these Terms are located. The Customer is advised to review these Terms regularly. The Customer’s continued use of the Services or Content after the posting of any changes to the Services, the Website, or these Terms will be deemed acceptance of those changes.
1.4 Provision
Three Towers will provide the Customer with the Services and Content in digital form via a password-protected online access, accessible to each authorized user of the Customer (“Authorized User”). The digital provision of the Content will begin on the agreed start date (“Start Date” as per the Order Confirmation).
1.5 Permitted Use of Services
The Services and Content may only be used for the Customer’s business purposes. The Customer is entitled to make a number of copies of the text and/or graphic documentation describing the results of the use of the Services (“Deliverables”) as defined in the Order Confirmation.
2. AUTHORIZED USERS AND REGISTRATION
2.1 Authorized Users
An Authorized User is a full-time or part-time employee or contractor of the Customer who is a natural person and is designated by the Customer as a user under these Terms (“Authorized User”). Authorized Users registered by automated methods are strictly prohibited.
2.2 Number of Authorized Users
The Order Confirmation specifies the number of Authorized Users who will be granted access under these Terms.
2.3 Registration
For digital provision, each Authorized User will receive a unique username and password. Each unique username and password may only be used by one person unless otherwise specified in the Order Confirmation. Such usernames and passwords may not be shared and may not under any circumstances be used by individuals who are not Authorized Users to access the Services or Content.
2.4 Responsibility for Authorized Users
The Customer is responsible for any use of the Services by individuals who access the Website or the Services using a username or password issued to its Authorized Users. The Customer must promptly notify Three Towers in writing if it becomes aware of any unauthorized access or use of the Services.
3. PAYMENT TERMS
3.1 Fees
The Customer will pay all fees listed in the relevant Order Confirmation (“Fees”). The Fees are valid only for the term specified in the Order Confirmation. Three Towers is entitled to change the Fees upon renewal of the order after prior written notice to the Customer.
3.2 Taxes
All Fees are exclusive of taxes unless expressly stated otherwise. The Customer is responsible for all taxes and other statutory charges. Three Towers remains solely responsible for taxes levied on its net income.
3.3 Payment Period
The Customer will pay undisputed invoices within fourteen (14) days of receipt. In case of late payment, default interest will be charged in accordance with statutory provisions.
4. PROHIBITED USE
4.1 Competitive Use
The Customer agrees not to create a competing product or to integrate the Services or Content into its own products or services or the products or services of any other person or entity in a manner that competes or is intended to compete with Three Towers.
4.2 Disruptive Use
The Customer may not use, post, transmit, or introduce any device, software, or routine that interferes or attempts to interfere with the operation of the Website or the Services. Furthermore, the Customer may not modify, decompile, decrypt, disassemble, or reverse engineer any part of the Services, the Website, or the Deliverables.
4.3 Technological Attacks or Scraping
The Customer may not use or attempt to use any deep-links, scrapers, robots, bots, spiders, data mining tools, computer codes, or other devices, programs, tools, algorithms, processes, or methods to systematically access, acquire, copy, or monitor any portion of the Content, the Website, or the source code.
5. INTELLECTUAL PROPERTY
The Customer acknowledges and agrees that the Website, the Content, the Services, the Deliverables, and all related documentation, including but not limited to the content, layout, features, design, appearance, trademarks, service marks, copyrights, patents, and other intellectual property comprising the Website, the Content, the Services, or the Deliverables, are the sole intellectual property (“Intellectual Property”) of Three Towers, regardless of whether this material is copyrighted or patented.
6. CONFIDENTIALITY
Both Parties undertake to keep confidential all confidential information of the other Party obtained within the scope of the business relationship and to use it only for the contractually agreed purposes. This obligation shall continue after the termination of the contract.
7. TERM AND TERMINATION
7.1 Term
These Terms begin on the Start Date of the first Order Confirmation. The term of an Order Confirmation is based on the billing period chosen by the Customer (e.g., monthly, annually, biennially) and will automatically renew for the originally agreed period unless terminated in writing by either Party with fourteen (14) days' notice to the end of the respective term.
7.2 Termination for Cause
Either Party may terminate the Order Confirmation and these Terms for cause. Cause shall exist, in particular, if the other Party breaches a material provision of these Terms or an Order Confirmation and fails to cure such breach within thirty (30) days of written notice.
8. DATA PROTECTION
The Customer acknowledges and agrees that to the extent the Content provided in connection with the Services contains personal data within the meaning of applicable data protection laws, in particular the General Data Protection Regulation (EU) 2016/679 (“GDPR”), the Customer is solely responsible for compliance with all such applicable laws.
9. LIMITATION OF LIABILITY
The liability of Three Towers for damages, for any legal reason whatsoever, is limited to intent and gross negligence. In the case of simple negligence, Three Towers is liable only for the breach of essential contractual obligations, the breach of which jeopardizes the achievement of the purpose of the contract or the fulfillment of which makes the proper execution of the contract possible in the first place and on the observance of which the Customer regularly relies. In this case, however, liability is limited to the foreseeable, contract-typical damage. Liability for damages to life, body, and health, as well as under the Product Liability Act, remains unaffected.
10. FINAL PROVISIONS
10.1 Applicable Law and Jurisdiction
These Terms are governed by the law of the Federal Republic of Germany, excluding the UN Convention on Contracts for the International Sale of Goods. The place of jurisdiction for all disputes arising from or in connection with these Terms is, to the extent permitted by law, Ingolstadt, Germany.
10.2 Severability Clause
Should any provision of these Terms be or become wholly or partially invalid or unenforceable, the validity of the remaining provisions shall not be affected thereby.
*Only legally binding in German language