Terms of Membership

These Terms of Membership (“Terms”) apply to your purchase and use of Merval Research Membership. Please read them before subscribing.

1. Who we are and how to contact us

Merval Research Membership is initially supplied for the small-market test by Nuno Merval in his personal capacity, subject to the insertion and verification before launch of his full legal name, UAE business or trade licence details registered business address, and VAT or tax identifiers (“Merval Research”, “we”, “us” or “our”). A residence visa alone is not business authorisation.

Contact member support at research@mervalresearch.com

2. The membership service and its limits

The Membership gives the subscriber access through Squarespace to general institutional investment research. Monthly and annual plans provide identical access.

The service is general and impersonal: it is not personalised investment advice, a personal recommendation, a suitability assessment, a trade signal, a model portfolio, a performance claim, an offer or solicitation, or tax or legal advice. No advisory, fiduciary, client, brokerage or other professional relationship is created.

3. Eligibility, territories and account ownership

You must be at least 18 and able to enter a binding contract.

The service is offered only in the United States and Europe.

You must not subscribe or use the service where doing so would breach applicable law. An account is for one named individual. You must keep login credentials confidential, and you are responsible for activity under your account.

4. Plans, prices and tax

In the United States, the Membership price is US$49 per month or US$500 per year.

In approved European territories, the Membership price is €49 per month or €500 per year.

The annual plan covers twelve months and the monthly plan covers one month. Access is identical under both plans.

VAT, sales tax or other indirect tax will be added where legally applicable, and the full total will be displayed before purchase. No blanket VAT exemption is stated or implied.

The selected plan price, applicable tax and billing frequency will be shown at checkout before payment.

5. Payment, automatic renewal and payment failure

By placing an order, you authorise the payment provider, to charge the stated subscription price and applicable tax on the stated billing frequency.

Your subscription renews automatically at the end of each billing period unless you cancel before renewal.

If a payment is declined, fails or is reversed, we may retry payment, ask you to update your payment details, suspend access, or end the Membership.

You remain responsible for amounts properly due for access already supplied, subject to your non-waivable rights.

6. Cancellation, refunds and statutory rights

You may cancel online through your account settings at any time. The online cancellation route will be at least as easy to use as sign-up.

You may also request cancellation by emailing research@mervalresearch.com

Cancellation normally takes effect at the end of the paid billing period, so access continues until then.

Nothing in these Terms limits mandatory statutory cancellation, withdrawal, refund or other consumer rights.

7. EU/EEA and UK withdrawal rights

Where you are a consumer in the EU, EEA or UK, your legal withdrawal rights depend on the nature of the supply and applicable law.

For immediate supply of digital content where the law permits loss of a withdrawal right, we will seek your prior express consent to immediate supply and your acknowledgement that you may lose that right.

Any right to withdraw, any proportionate amount properly chargeable for service supplied at your request, and any continuing right required by law remain unaffected.

The checkout and confirmation email will state the applicable position clearly.

8. Licence and intellectual property

All Membership content, branding, databases and materials are owned by us or our licensors.

While your Membership is active and you comply with these Terms, we grant you a limited, revocable, non-exclusive, non-transferable licence to view the content for your personal use or your own internal institutional use.

You may not copy, redistribute, republish, sell, sublicense, scrape, harvest, download in bulk, train or improve a dataset or artificial-intelligence system, create derivative works, make commercial use, remove notices, or use the materials in marketing, client materials, offering documents or public communications without our written permission.

Any permitted quotation must be fair, accurately attributed and lawful.

9. Acceptable use and security

You must not bypass access controls, probe or interfere with the service, use automated tools to extract content, introduce malware, impersonate another person, or use the service unlawfully.

We may monitor reasonable technical information needed to protect the service and investigate misuse.

We may suspend or restrict access where reasonably necessary for security, maintenance, suspected breach or legal compliance.

10. Availability, changes and discontinuation

We will use reasonable care in providing the service, but do not promise uninterrupted or error-free availability.

We may update, modify, withdraw or suspend content or features where reasonably required for security, legal compliance, maintenance or service development.

If we discontinue the Membership or terminate it without your breach, the treatment of unused prepaid time will be, without limiting mandatory rights.

11. Suspension and termination

We may suspend or terminate your Membership if you materially breach these Terms, misuse the service, fail to pay amounts properly due, or if continued provision would be unlawful or materially risky.

On termination, your access and licence end. Clauses intended to survive, including intellectual-property, liability and dispute provisions, continue.

12. Complaints, liability and your rights

Send complaints to research@mervalresearch.comThe Research Disclosures form part of the information relevant to your use of the service.

To the fullest extent permitted by law, we are not liable for indirect or consequential loss, loss of profit, loss of opportunity, trading loss, or loss arising from reliance on general research.

Our aggregate liability relating to the Membership is limited to the amount you paid for the Membership in the twelve months preceding the event giving rise to the claim.

This does not exclude or limit liability that cannot lawfully be excluded or limited, including liability for fraud, fraudulent misrepresentation, death or personal injury caused by negligence, or mandatory consumer rights.

13. The House of Merval

Merval Research is operationally and data-separated from The House of Merval.

We do not route, refer, market or cross-sell Members to The House of Merval, and Membership does not give rise to a relationship with it.

14. Governing law, courts and consumer protections

These Terms are governed by United Árabe Emirates

Courts and jurisdiction: United Árabe Emirates governing law and courts].

If you are a consumer, you retain the benefit of mandatory protections of the law of your country of residence and any right to bring proceedings in a court that cannot lawfully be displaced by these Terms.

15. Changes, notices and general terms

We may change these Terms for a valid reason, including legal, security, technical or service changes.

We will give reasonable notice of a material adverse change and, where required, an opportunity to cancel before it takes effect.

If Membership grows materially, the business may be transferred to a RAK Free Zone company only through documented migration, updated Terms and Privacy Notice, customer notice or consent where legally required, and completed payment-account and data-controller changes.

Notices may be provided through the service or by email.

These Terms, the checkout information, Privacy Notice and Research Disclosures are the entire agreement about the Membership, subject to mandatory law.

If any provision is unenforceable, the remaining provisions continue to apply.