The Service
The Chilean Benchmark Facility SpA (hereinafter CBF), a company incorporated under the laws of Chile, provides a benchmark data service (TAB Nominal, TAB UF, TADO, ICP Nominal and ICP Real), including the benchmark tenor values, and other related market information via a variety of delivery mechanisms to subscribers.
Limitation of Liability
Whilst all care is taken, and notwithstanding the independent verification of the data, CBF is not responsible for the accuracy or timeliness of the information and will not be liable for any damages sustained by a subscriber, or any other person, arising from the use of, or reliance on, CBF benchmark data.
Disclaimer
To the maximum extent permitted by law, the CBF benchmark data is provided “as is” and the CBF, its licensors, and its and their respective employees, contractors, agents, suppliers and vendors shall have no liability or responsibility whatsoever (whether in negligence or otherwise) for damages, claims, losses or expenses – whether direct, indirect, consequential, incidental, punitive or otherwise – arising in connection with the CBF benchmark data, including but not limited to losses or expenses caused by errors or delays in calculating or disseminating the CBF benchmark data.
Access
The subscription entitles a subscriber organisation, and any notified subsidiary with greater than 51% ownership, to receive and use the CBF data service through an authorised vendor or via alternate methods of delivery, for the limited purposes, and under the terms and conditions of this agreement.
Terms of Use
These terms of use are limited to the named organisation site/s specified in the subscription agreement or reported to the CBF in the agreed manner and are non-transferable.
The organisation may;
- Retrieve and use the CBF data for their own internal business purposes only.
- Use insubstantial amounts of data incorporated in reports supplied to clients on an infrequent basis as part of the subscriber organisation’s ordinary course of business.
The organization is not permitted to;
- Redistribute, recirculate or republish any information outside the named organization.
- Commercially exploit the data package in any form or by any method or include the data in an index for commercial distribution to third parties.
- Use the CBF data for the operation of futures and clearing services (licences for such use rights can be obtained by contacting the CBF directly).
- Publish any CBF data to a website, without prior written approval from CBF.
For the avoidance of doubt, subscription to real time data does not provide an automatic approval to share the CBF Benchmark Data with third party fund administration, custody, or other outsourced ancillary service providers. Subscribers wishing to engage third parties for these purposes must notify the CBF of the proposed service provider for prior approval. The CBF will not unreasonably withhold such requests, provided that the service provider has the appropriate license.
Additional information regarding terms of use and descriptions of subscriptions can be found at www.cbf.cl.
Subscription Charges
The Subscriber organisation will pay the charges, without any right of deduction or set-off, within the term indicated on the subscription invoice within 30 days after receipt of a valid invoice. Subscription fees are paid annually in advance, and CBF will invoice your organisation directly. From the commencement date of the agreement, no payment will be due to your current information vendor in respect of the CBF Benchmark Data. Subscription fees are subject to review and CBF will provide a minimum of 3 months’ notice for any subscription charge changes.
Payment is integral to the agreement and failure to pay will result in loss of access to CBF data and potentially to a permanent loss. CBF reserves the right to request a compliance certificate from any subscriber to ascertain that it is meeting the terms of this agreement.
Commencement date
The agreement will commence on the date of submission of the online subscription form or signed subscriber agreement and CBF will advise the relevant authorised information vendor of the organisation’s subscription details. The annual subscription period is 1st January to 31st December. A pro-rata subscription charge will apply for agreements signed part way through the subscription year. This agreement will automatically renew on 1st January each year unless written notice of termination is received with minimum of 30 days prior to the 1st January renewal date.
Changes in the Service
The CBF reserves the right to change the format and/or content of the CBF data service from time to time without advance notice.
The CBF Terms and Conditions are subject to review and the CBF reserves the right to make additional changes from time to time. The most up to date version of the Terms and Conditions can be found at www.cbf.cl.
Intellectual Property Rights
All information and material contained in the CBF data service is, and remains, the property of the CBF and is subject to intellectual property protection.
Personal Privacy
The service provider and its employees, agents or representatives will not at any time or in any manner, either directly or indirectly, use for the personal benefit of the service provider or divulge, disclose, or communicate in any manner any information that is proprietary to the client. The service provider and its employees, agents and representatives will protect such information and treat it as strictly confidential. This provision will continue to be effective after the termination of this contract. For more information, please visit www.cbf.cl/privacy.
Governing Law and Jurisdiction
This agreement will be governed by the laws of Chile. Any difficulty or dispute arising between the parties in relation with this agreement, will be submitting to the ordinary Courts of Santiago, Chile.
Effective Date
These Terms and Conditions are effective from 1st July 2023, and will replace any previous version related to the service provided.
Service Provider:
Chilean Benchmark Facility SpA (RUT 77.038.883-k) with registered address at Av. Apoquindo 3076, office 902, 7550158, Las Condes, Santiago, Chile.