1. Introduction
These Terms of Use (“Terms”) govern access to and use of Safqa’s websites, mobile applications, APIs, widgets, software, market data, analytics, research, news, and all related content and services including any data and information that may be made available thereunder (collectively, the “Services”).
Safqa operates under the laws of the State of Kuwait. Certain Services incorporate market data and content licensed from third-party exchanges and data providers (“Providers”). These Terms incorporate and pass through all obligations Safqa is required to impose under such arrangements.
By accessing or using the Services or creating an account, each individual or entity (a “User” or “You”) agrees to these Terms. Where a User acts on behalf of an organization or entity, the User represents and warrants that he or she has the requisite authority to bind that organization or entity to these Terms and any other terms incorporated herein by reference or otherwise.
2. Accounts and Eligibility
2.1 Accuracy — You must provide accurate and complete registration details and maintain them up to date.
2.2 Classification — Users may be classified as professional Users or non-professional users in accordance with the Provider’s requirements. Misclassification may result in retroactive fees.
2.3 User ID — Each User is assigned a unique User ID (Safqa username). Accounts are personal and must not be shared or reassigned.
3. Account Responsibilities
3.1 Account Activity — You are responsible for all activity conducted through your account.
3.2 Credential Security — You must maintain secure access to login credentials and prevent unauthorized use. Safqa shall have no liability to You for any losses or damages suffered by You as a result of such unauthorized use.
3.3 No Sharing — Accounts and User IDs are personal to Users and must not be disclosed to, shared, transferred, or made available to third parties by You.
3.4 Notification — You must promptly (but in any event within not more than twenty-four (24) hours of becoming aware) notify Safqa of any unauthorized access, suspected security breach, or compromise of credentials. Safqa shall have no liability to You for any losses or damages suffered by You as a result of your failure or delay to make such notification.
3.5 Safqa Rights — Safqa may in its sole discretion and without any liability to You immediately and without any notice to You suspend or terminate your account in cases of actual or suspected misuse, unauthorized sharing, fraud, or security risks.
3.6 Continuing Liability — You agree that You shall remain responsible indefinitely for any and all obligations and liabilities incurred through your account prior to closure or termination.
4. License and Permitted Use
4.1 License Grant — Safqa grants You a personal, revocable, non-exclusive, non-transferable license to access and use the Services for internal or personal investment purposes. You agree and undertake not to use the Services for any illegal or fraudulent purposes.
4.2 Restrictions — Unless expressly authorized in writing, You are prohibited from:
- Redistributing, reselling, sublicensing, retransmitting, mirroring, or framing any data or content.
- Storing, archiving, or caching Provider data beyond what is necessary for immediate display.
- Misrepresenting delayed data as real-time.
- Removing, concealing, or altering any attribution, copyright, or source notice.
5. Market Data and Provider Rules
5.1 Ownership — You agree and acknowledge that all rights and title in Provider’s data remain with the respective Providers.
5.2 No Warranties — You agree and acknowledge that Provider’s data is supplied “as is,” without warranties of accuracy, timeliness, or completeness.
5.3 Service Adjustments — You agree and acknowledge that Safqa may in its sole discretion modify or discontinue access to specific instruments, feeds, or Providers to comply with contractual or regulatory obligations.
6. User Conduct and Audit
You agree and undertake not to:
- Upload, transmit, or distribute unlawful, defamatory, abusive, fraudulent, or misleading content.
- Interfere with or disrupt the Services or related infrastructure.
- Attempt to scrape, harvest, or bypass access controls, rate limits, or digital rights management.
- Introduce malware, viruses, or harmful code.
- Engage in harassment, infringement of rights, or market manipulation.
Safqa is entitled at its expense to audit your use of the Services upon reasonable written notice. If Safqa identifies any non-compliance, it shall give You written notice and You shall promptly rectify the non-compliance within such timeframe as shall be specified in the notice.
7. Safqa Intellectual Property
7.1 Ownership — Safqa retains all rights, title, and interest in its platform, software, databases, analytical tools, trademarks, trade names, logos, and designs. Without prejudice to the foregoing, the User confirms and acknowledges that the ownership and/or proprietorship of any IP Rights embedded in, related, connected, or ancillary to its App and/or Website solely and exclusively belongs to Safqa. The User shall not acquire, and shall have no entitlement over, license to use or publish, or any right of whatsoever nature in, any IP Rights embedded in, related, connected, or ancillary to its App and/or the Website by virtue of entering into the User Agreement, or having access to the Services. Safqa shall be entitled to obtain injunctive relief without the necessity of proving actual damages if there is any breach or threatened breach of this Clause 7.
7.2 Limited Rights — No license is granted to Safqa intellectual property beyond the limited right to access and use the Services under these Terms.
7.3 Prohibited Use — Registration or use of domain names, social media handles, or identifiers confusingly similar to Safqa’s marks is strictly prohibited.
7.4 The User shall not amend, modify, enhance, adjust, alter, reverse engineer, disassemble or decompile the software in Safqa’s App and/or the Website or attempt to discover any source code connected thereto.
8. Fees, Subscriptions, and Refunds
8.1 Subscription Fees — Subscription fees, usage-based charges, and plan inclusions shall be disclosed at purchase. Safqa may adjust fees in response to Provider pricing changes and any other pricing changes as determined by Safqa in its sole and absolute discretion.
8.2 Automatic Renewal — Subscriptions renew automatically unless cancelled prior to the end of the billing cycle.
8.3 Refunds — Payments are non-refundable except where required by law or expressly stated in plan terms.
8.4 Billing Disputes — Disputes must be raised within 30 days of the charge failing which the billing shall be deemed to have been unequivocally accepted by You.
8.5 Taxes — Fees exclude applicable taxes, which are the responsibility of the User.
8.6 No Set Off – Subscription fees shall be paid without any retention, deduction or set off whether on account of taxes or otherwise.
8.7 Revision to Fees – Notwithstanding anything else to the contrary, Safqa reserves the right in its sole discretion to revise the subscription fees at any time upon thirty (30) calendar days written notice to the User it being agreed that any revision in the fees shall not apply retrospectively.
9. Suspension, Term and Termination
9.1 Safqa may in its sole discretion and without any liability to the User suspend the Services if the User breaches these Terms, fails to pay fees or any other amounts due to Safqa when due, or where required by a Provider or regulator. Without prejudice to the foregoing, Safqa reserves the right in its discretion to terminate the Services and/or the User Agreement if: (a) the User breaches these Terms and/or the User Agreement or applicable laws and regulations in its use of the Services; (b) if the User fails to pay subscription fees or any other amounts due to Safqa; or (c) where required by a Provider or regulator for any reason.
9.2 Safqa may terminate the User Agreement with immediate effect upon written notice to the User if: (a) the User enters administration, becomes insolvent, makes a composition or arrangement with its creditors or suffers an analogous event; or (b) the User suspends or threatens to suspend or threatens to cease carrying on all or a substantial part of its business.
9.3 The User may terminate the User Agreement at any time upon fourteen (14) days written notice to Safqa provided that any pre-paid fees shall not be refundable upon such termination.
9.4 Safqa may terminate the User Agreement at any time for convenience upon at least seven (7) calendar days written notice provided that in such a case, Safqa shall refund any prepaid subscription fees to the User on a pro rata basis within thirty (30) calendar days from the effective date of termination.
9.5 The term of the User Agreement shall commence once the User Agreement is signed by the User either digitally or manually and continue for an initial term of one (1) calendar year unless it is terminated earlier in accordance with its terms. The User Agreement shall be automatically renewed for successive one (1) year terms unless either party gives written notice of its intention not to renew the User Agreement at least fifteen (15) calendar days prior to the date of expiry.
9.6 Upon termination, all rights to access Services and Provider data ceases immediately. Users must delete retained data except where retention is legally required.
9.7 Termination of the User Agreement shall not affect any rights, remedies, obligations or liabilities of the parties that have accrued up to the date of termination, including the right to claim damages in respect of any breach which existed at or before the date of termination or the right to any accrued fees and payments.
9.8 Any provision of the User Agreement or these Terms that expressly or by implication is intended to come into or continue in force on or after termination of the User Agreement shall remain in full force and effect.
10. Disclaimers
10.1 No Advice — The Services are provided for informational purposes only and do not constitute investment, tax, legal, or financial advice. In particular, the Services do not take into account your investment objectives, financial situation or particular needs. Before making an investment decision based on the Services, You should rely on your own independent examination and consult your professional advisers for legal, investment, business and tax advice. Safqa disclaims any liability for any losses or damages that You may incur or suffer as a result of using and/or relying on the Services.
10.2 Market Risk — Market data and analytics may be delayed, inaccurate, incomplete, or interrupted. Safqa and Providers do not guarantee the reliability, availability, or timeliness of any data and disclaims any liability for any losses or damages that You may incur or suffer as a result.
10.3 Aggregation — Safqa aggregates information from multiple Providers. Errors, omissions, or delays may occur in the collection, processing, or presentation of such data. Safqa is not responsible for inaccuracies or discrepancies resulting from third-party sources and disclaims any liability for any losses or damages that You may incur or suffer as a result.
10.4 Updates — Information provided through the Services may not always reflect the most current market conditions or corporate actions. Safqa does not guarantee that all data will be updated immediately or in real time and disclaims any liability for any losses or damages that You may incur or suffer as a result.
10.5 Downtime — Safqa is not responsible for any unavailability, delays, or interruptions in the Services arising from Providers, telecommunications failures, system outages, or any other causes beyond Safqa’s reasonable control. Safqa disclaims any liability for any losses or damages that You may incur or suffer as a result of such unavailability, delays or interruptions. Without prejudice to the foregoing, Safqa shall not be liable to You for any service interruptions, including but not limited to system failures or other interruptions that may affect the receipt, processing, acceptance, completion, or settlement of any transactions or operations.
10.6 “As Is” — The Services and Provider data are supplied “as is” without warranties of any kind, express or implied, including merchantability, fitness for a particular purpose, non-infringement, or uninterrupted availability. Any use by the User of the Services is at the User’s own risk.
11. Limitation of Liability
11.1 Safqa and Providers shall not be liable for indirect, incidental, punitive, or consequential damages, including trading losses, lost profits, lost data, or business interruption.
11.2 Aggregate liability of Safqa for all claims shall not exceed the total fees paid by the User in the last month of subscription equaling (1) month preceding the claim.
11.3 Nothing in these Terms limits liability that cannot legally be excluded, including liability for fraud or gross negligence.
11.4 Without prejudice to the foregoing provisions, the User confirms and acknowledges that if the agreement between Safqa and any Provider imposes liability on the User for unauthorized use of the Services and/or any information provided to the User, the User shall bear such liability and indemnify Safqa for any losses or damages that it may suffer as a result. The User shall also comply with any instructions issued by Safqa and/or the Provider to stop such unauthorized use.
12. Indemnity
The User indemnifies and holds harmless Safqa, its affiliates, directors, officers, employees, and Providers against claims, damages, costs, or expenses arising from:
- Breach of the User Agreement, these Terms or Provider requirements.
- Unauthorized redistribution or misuse of data.
- Violation of applicable laws and regulations.
- Unlawful content or conduct attributable to the User.
13. Compliance, Export, and Sanctions
13.1 Users must comply with all applicable laws, including securities, data protection, and consumer regulations.
13.2 Users must not use the Services in violation of export control or sanctions regimes.
13.3 Users must not engage in bribery or unlawful inducements in relation to the Services.
14. Privacy and Data Processing
14.1 Safqa processes personal data in accordance with the Safqa Privacy Policy, incorporated by reference herein and accessible at the following link [XXX].
14.2 Safqa may share User information, including account identifiers and usage logs, with Providers and regulators where required in accordance with the Privacy Policy.
15. Notices and Communications
15.1 Safqa and the Users may provide notices through the Services, by email, or by other reasonable means.
15.2 Notices are deemed effective when sent.
15.3 Users may contact Safqa at: support@safqa.com
16. Governing Law, Dispute Resolution and Language
16.1 These Terms are governed by the laws of the State of Kuwait.
16.2 The courts of Kuwait shall have exclusive jurisdiction over disputes arising between Safqa and the User in connection with the Services, the User Agreement or these Terms that are not amicably resolved within thirty (30) days of commencement of good faith negotiations.
16.3 If these Terms are issued in English and Arabic, both versions shall be authoritative. In case of conflict, Safqa may in its sole discretion designate which version prevails.
17. Miscellaneous
17.1 These Terms, together with the User Agreement and the referenced policies, constitute the entire agreement between Safqa and the User.
17.2 If any provision is held unenforceable, the remainder shall remain in effect.
17.3 Failure to enforce a provision shall not constitute a waiver.
17.4 Assignment by the User of its rights and obligations is not permitted without Safqa’s prior written consent. Safqa may assign its rights and obligations to an affiliate or in connection with a merger, acquisition, or restructuring.
17.5 Safqa may update these Terms from time to time in its sole discretion. The use of the Services by the Users will be regulated by the Terms currently in use at the time of use. The version of these Terms appearing on the Website and/or App shall in all events take precedence in the event of ambiguity or inconsistency.
17.6 If Safqa is prevented, hindered or delayed in or from performing any of its obligations under the User Agreement by a Force Majeure Event, Safqa shall not be in breach of the User Agreement or otherwise be liable for any such failure or delay in the performance of such obligations. In the event that the Force Majeure Event continues to affect Safqa’s performance for more than thirty (30) consecutive calendar days, Safqa may terminate the User Agreement upon seven (7) days written notice to the User. For purposes of this clause, the term “Force Majeure Event” means any circumstance that is not within Safqa’s reasonable control including, but not limited to, natural disasters, strikes, lockouts, pandemics, epidemics, armed conflicts, political upheavals, uprisings, acts of governmental authorities, riots, acts of God or any other cause or causes, whether or not of like kind or character, beyond Safqa’s control.
17.7 All information disclosed by a party to another party (the “Recipient”), including but not limited to information in the User Agreement and information that is not in the public domain, shall be considered confidential information (the “Confidential Information”). The Recipient may not, during the term of the User Agreement and thereafter, disclose or use such Confidential Information except for the express purpose of fulfilling its obligations and duties under the User Agreement. For the avoidance of doubt, the Recipient may disclose the Confidential Information to its shareholders, officers, directors, employees and professional advisers who have: (a) a “need-to-know”; and (b) an employment, contractual or professional duty to keep it confidential to the same extent as if they were directly subject to this provision, except as required by law, court order or for regulatory purposes, and then only as necessary to comply, in which event, to the extent legally permissible, the party being required to disclose shall give notice to and consult with the other party in advance of disclosure as to the purpose and intended form of the disclosure, and give copies of the information proposed to be disclosed to the other party prior to disclosure.
17.8 By using the Services, in the case of Users who are individuals, the User represents and warrants to Safqa that he or she has the legal capacity to contract and enter into the User Agreement under applicable laws and regulations.
17.9 These Terms form an integral part of the User Agreement. The User agrees and confirms that in the event of inconsistency or ambiguity between the terms and conditions set out in these Terms and the User Agreement, the terms and conditions set out in the User Agreement shall prevail.
17.10 Nothing in the User Agreement or these Terms is intended to, or shall be deemed to, establish any agency, partnership or joint venture between the parties, constitute any party the agent of another party, or authorize any party to make or enter into any commitments for or on behalf of the other party.
19. Definitions
- App: Safqa’s digital application through which it makes available the Services to Users.
- Confidential Information: Has the meaning given to it in Clause 17.7.
- Force Majeure Event: The events referred to in Clause 17.6
- IP Rights: Any and all intellectual property rights of Safqa including, but not limited to, patents, utility models, rights to inventions, copyright and neighboring and related rights, moral rights, trademarks and service marks, business names and domain names, rights in get-up and trade dress, goodwill and the right to sue for passing off or unfair competition, rights in designs, rights in computer software, digital files, digital coding, data, database rights, rights to use, and protect the confidentiality of, confidential information (including know-how and trade secrets), or acquired tangible or intangible products, whether developed, leased, or licensed, and in each case whether registered or unregistered and including all applications and rights to apply for and be granted, renewals or extensions of, and rights to claim priority from, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future in any part of the world.
- User: Any individual or entity granted access to the Services by Safqa. For market data compliance purposes, a User may be classified as a Professional User (a regulated individual or institution using the Services for business or institutional purposes) or a Non-Professional User (a natural person using the Services solely for personal investments).
- User Agreement: The main agreement entered into between Safqa and the User in connection with the use of the Services.
- User ID: The username or account identifier assigned to a User by Safqa. Each account is personal and must not be shared or reassigned.
- Provider(s): Third-party exchanges, trading venues, or licensors supplying market data and content to Safqa.
- Recipient: Has the meaning given to it in Clause 17.7.
- Services: Has the meaning given to it in Clause 1.
- Terms: These Terms of Use as amended from time to time.
- Website: Safqa’s primary website through which it promotes and makes available the Services to Users.