These conditions of use describe the terms according to which BolsaQuest S.L., with registered address at Islas Hébridas 39A, 28035 Madrid, Spain (hereinafter, "BolsaQuest") offers access to its services via its website www.bolsaquest.com. It is the responsibility of each member to read and understand this legal warning, and the terms and conditions by which the purchasing of financial forecasting contracts on this website is regulated. No gains may be collected from the Company for transactions that have been made in breach of these terms. Access to and use of the betting services of BolsaQuest Ltd. is governed by the terms and conditions set out below. If you have any questions about these terms and conditions, we would encourage you to seek independent council prior to becoming a member.

1. General Statements
These Conditions of Use shall be governed by Spanish law. BolsaQuest cannot guarantee continuous, uninterrupted and secure access to its services, it being possible that the operation of the site be affected by numerous factors beyond the control of BolsaQuest. Should any clause of these Conditions of Use be declared invalid or non-executable, said clause shall be eliminated, all other clauses remaining in force. You accept that these Conditions of Use and all documents incorporated herein by means of their reference herein may be automatically transferred by BolsaQuest, at its sole discretion, to a third party in the event of merger or take-over, for the sole purpose of advertising regarding content similar to or the same as that contained on this website or for the purposes of continuing to provide you with the service that you have voluntarily opted to contract with us. The titles of the sections should be understood as being for reference purposes only, they in no way defining, limiting, interpreting or describing the scope or extent of the corresponding section. The fact that BolsaQuest does not initiate legal proceedings against any non-compliance by you or a third party does not represent a waiver of its right to initiate proceedings against other similar or subsequent non-compliances.

These Conditions of Use and all those documents incorporated herein by their reference herein constitute and regulate entirely the contractual relationship between you and BolsaQuest in connection with the material object of the same.

It is a condition of membership that Customer accepts these Terms and Conditions. These Terms and Conditions are acknowledged as legal and binding by Customer, once he/she becomes a member.

Customer agrees that BolsaQuest may amend these Terms and Conditions. Any such revision or change will be binding on Customer and effective immediately on posting of the revised Terms and Conditions on this website or, at BolsaQuest's discretion, on notification to Customer by email. Customer agrees that he/she shall be solely responsible for checking for revisions and changes on each occasion he/she uses the betting service. Customer agrees that any use of the betting service at any time following such posting or notification shall constitute his/her agreement to such revisions or changes.

All amounts stated by default hereunder are in Euro (EUR). If Customer keeps his/her account in any other currency the correspondent equivalent shall be applicable.

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2. BolsaQuest is only a meeting point.
The contents of this website are not intended to provide financial, investment or professional advice and no content on the pages of this website should be considered as constituting the provision of any kind of financial, investment or professional advice.

This website contains links to other third party websites. We have no relationship to the content or security of such websites. You consent to them at your own responsibility, and BolsaQuest does not take any part in or assume any responsibility for the content of websites of third parties. We cannot be held responsible for any loss or damage that could be caused as consequence of the use of such sites.

The graphics used on this website have illustrative and informative ends and in no way represent projections regarding the expected or anticipated behaviour of the products they represent.

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3. General Restrictions
BolsaQuest's services are only available to individuals and bodies corporate who have the capacity to sign a contract in accordance with the applicable law. Any individuals or bodies corporate who contract these services not as the end users thereof, shall lose the condition of consumer and user, which means that, independently of the Law of their normal residence, the applicable law shall be Spanish Law, and the competent jurisdiction that of the Courts and Tribunals of Madrid.

Customer must be over 18 years of age to register and to place a bet with BolsaQuest. BolsaQuest reserves the right to ask for proof of age from any customer and accounts may be suspended until satisfactory proof of age is provided.

Access to and use of the betting services of BolsaQuest may not be legal for residents of or persons in certain countries. BolsaQuest does not intend its betting service to be used by persons present in countries where such activities are illegal. It is the sole responsibility of Customer to ascertain the terms of and comply with any local law or regulation to which he/she is subject to ensure that he/she would be acting legally in subscribing as an individual customer of BolsaQuest and/or using its betting service.

If you do not have the legal capacity to use the service in accordance with the above, you should not use BolsaQuest services. Furthermore, your BolsaQuest account (including your assessment) and User ID cannot be transferred or sold to another party.

In order to purchase the services offered by BolsaQuest, customer must have the capacity to contract under his national law.

Your details:

• Must not be false, inaccurate or misleading.
• Must not be fraudulent, stolen or falsified.
• Must not infringe any intellectual property rights, patents, trademarks, industrial secrets or other rights of ownership, advertising or the privacy of third parties.
• They must not violate any laws or rulings of a similar level, regulations or ordinances (including, for example, the regulations regarding control of changes, consumer protection, unfair competition, non-discriminatory or deceiving advertising).
• They must not be slanderous or constitute libel, any kind of threat or coercion.
• They must not be obscene, nor contain child pornography.
• They must not contain any virus (in particular, and by way of example, trojans, worms, time-bombs, cancel bots, Easter eggs) nor other computer programming routines that could damage, interfere surreptitiously with or expropriate any systems, personal details or information.
• They must not result in liability for BolsaQuest, nor must they cause BolsaQuest to lose (either fully or in part) the services of its ISPs (Internet Service Providers) or other providers.

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4. Membership Clauses
The services of BolsaQuest are available only for those individuals and bodies corporate who have the capacity to sign contracts validly in accordance with the applicable Law. Any individuals or bodies corporate who contract these services not as the end users thereof, shall lose the condition of consumer and user, which means that, independently of the Law of their normal residence, the applicable law shall be Spanish Law, and the competent jurisdiction that of the Courts and Tribunals of Madrid.

1. You may only open an account at this site on condition that you have read this Legal Terms and Conditions page in full and understood that you will be buying and selling financial bets subject to these terms and conditions; you have read our privacy statement and hereby give us consent to process your personal information as outlined there; you are over 18 years of age; you have sufficient experience and knowledge in matters of financial betting to be capable of evaluating the merits and risks of acquiring financial betting contracts via this site and have done so without relying on any information contained in this site.
2. Customer opens an account by completing the online membership application form, which is an integral part of this website.
3. Customer shall ensure that the details provided at registration (address, telephone number, email etc.) are kept up to date. Customer's account information may be amended in the 'profile' section of this website or by contacting BolsaQuest Customer Support.
4. To verify Customer's identity, BolsaQuest reserves the right to request at any time satisfactory proof of identity (copies of a valid passport / identity card and/or any payment cards used) and proof of address (recent utility bill or bank statement). Failure to supply such documentation may result in suspension of the account.
5. There are no set-up charges and no monthly fees for maintaining Customer's account. Interest is not paid on any funds held in Customer's account.
6. Customer can request withdrawals from his/her account at any time provided all payments made have been received. BolsaQuest reserves the right to pay any requested withdrawal partly or in total via the same method of payment with which deposits were made. When using credit/debit card or NETeller to make a deposit, BolsaQuest may not accept any withdrawal request within 14 days after the deposit.
7. Either party is entitled to close the account at any time. In the event of termination by BolsaQuest, it shall give notice of the termination to Customer via electronic mail and, as soon as reasonably practicable, refund the balance of Customer's account. In the event of termination by Customer, he/she shall first withdraw the entire balance from his/her account and then give notice of the termination to BolsaQuest via electronic mail. Termination will not affect any outstanding bets.
8. Some customers may be eligible to participate in bonus programs. Said bonus programs, as to their conditions, amount and issuance, shall be subject to the discretion of BolsaQuest, and shall be non-transferable. Irrespectively of all special conditions of offer that may apply, BolsaQuest reserves the right to deduct the bonus amount again from Customer's account if a withdrawal was requested before the amount of the underlying deposit transaction has been wagered once and/or has been used to bet on different outcomes of the same event.

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5. Identity - Login
Because checking the identity of Internet users is very difficult, BolsaQuest cannot and does not confirm the identity provided by each user.

The username and password should not be disclosed to any third party. Customer is solely responsible for the security of his/her user name and password.

Every person who identifies him/herself by entering the correct username and password is assumed by BolsaQuest to be the rightful account holder/Customer and all transactions where the username and password have been entered correctly will be regarded as valid. In no event will BolsaQuest be liable for any loss Customer suffers as a result of any unauthorised use or misuse of his/her login details.

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6. C2C online Betting & Prospecting (Client to Client)
Although BolsaQuest is frequently considered an on-line prospecting site, it should be pointed out that BolsaQuest is not an "auction house" nor a "betting house". In reality, BolsaQuest acts as a meeting point, which is designed to enable anyone who may wish to, to buy or to sell our betting contracts at any time, from any place, in a variety of ways.

BolsaQuest act as a facilitator between customers who wish to participate in our betting exchange service.

On a betting site, the so-called "experts" are the people who establish artificial probabilities, points differences and other kinds of bets against the House. With BolsaQuest, there are no specific probabilities since our members establish the probabilities depending on how they reach their forecasts.

The probabilities of payment change in real time, i.e. while players select their contracts; and payment of each result depends on the amount that has been bet on opposing results. This kind of forecasting is known as Dynamic prospecting or Real Probabilities.

The financial betting services contained within this site are only suitable for customers who are able to bear the loss of all the money they invest and who understand and have experience of the risks involved in the acquisition of financial betting contracts.

Due to such volatility, plus the bias in the pricing system favouring the website (as described in more detail below), no financial betting contract purchased in our system (whether or not the payout exceeds the premium amount) can be considered a safe bet.

The maximum loss that may be incurred by any customer is the amount of money paid by him to the Company.

The Company reserves the right in its sole discretion to refuse and/or cancel services to anyone for any reasons including, but not limited to:

• any instance where the Company believes that person's activities at this site may be illegal in that person's country or state;
• any instance where the Company may be approached or contacted by legal authorities or regulators from that person's country or state;
• any instance where the Company may suffer any pecuniary, fiscal or regulatory disadvantage by virtue of that person's activities at this site;
• any instance where transactions on this website are performed in breach of the present terms and conditions.

The Company does not provide a market amongst or between customers for investments, securities, derivatives or speculations. Each financial betting contract purchased by a customer via this site is an individual agreement between that customer and the Company and is not a security, nor is it transferable, negotiable or assignable to or with any third party.

Acquisition of financial betting contracts through this site must be effected in accordance with the terms and conditions presented on the pages of this site. Acquisition of a financial betting contract is completed when the financial betting contract has been customised, the premium (or the payout, as the case may be) has been calculated and payment has been verified.

Each member agrees to be fully and personally liable for the due settlement of every transaction entered into under his account with the Company. This includes any transactions entered into by members of the Customer's family or entourage who have gained access to the account. The Customer is responsible for ensuring that he alone controls access to the account, and that no minors are granted access to trading on the website. In any case, the Customer remains fully liable for any and all positions traded on his account, and for any credit card transactions entered into the site for his account. Each Customer also indemnifies the Company in respect to all costs and losses of any kind, whatsoever as may be incurred by the Company as a result, direct or indirect, of the Customer's failure to perform or settle such a transaction.

Monies collected from customers are not invested in any securities, futures, currencies, derivatives or other investments, on behalf of customers.

Any information given on these pages and/or emails or newsletters sent by the company related thereto, is not intended as financial or investment advice and the Company will not accept any liability in this respect, nor will the Company accept any responsibility for the accuracy or comprehensiveness of the information provided on this site.

The right is reserved to amend or change the rules and scope of this service from time to time without prior notice. Any change to the rules made whilst the site is in operation will not apply retrospectively and will only apply to acquisitions of financial betting contracts made after such change. Customers will be informed of any such changes by email notification to the email address registered in their account.

The Company will have the right to carry out corrections to data published in the event of erroneous prices or typographic errors in the data. Customers should note that the different markets may close at different times during the day due to local trading hours and time zones. In the case of stock index prices, the final closing price as reported by the relevant Exchange shall apply for all settlements (this final settlement price may, at times, be reported by the Exchange 30-90 minutes after the official closing time of the market). In the case of individual US stock prices, the last price at midnight GMT is used (US stock prices are taken from the island.com ECN, which is a 24 hours market). In the event of any dispute regarding market or settlement values, the decision of the Company shall be final and binding.

The Company will not be liable in any way to any persons in the event of force majeure, or for the act of any Government or legal authority or for the failure of or damage or destruction to, its computer systems, data or records or any part thereof, or for delays, losses, errors or omissions resulting from the failure or mismanagement of any telecommunications or computer equipment or software.

In the case that any financial betting contracts are acquired or sold at prices that do not reflect fair market prices or that are acquired or sold at an abnormally low level of risk due to an undetected programming error, bug or glitch in our website software, the Company reserves the right to cancel or reverse such transactions upon notification to the customer of the nature of the computer error that led to the mis-pricing. Customers have a duty to report to the Company any problems or suspected system inadequacies that they may experience and may not abuse of system problems for profit. Persons with insider knowledge of any financial market or instrument are prohibited from trading at this website.

All inquiries should be addressed to the Company at the Contact Section

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7. Further Betting Rules
BolsaQuest may impose certain rules and restrictions in relation to the placing of market orders on this website. Such rules may change from time to time, according to market conditions and other factors. The following indicative rules are currently in place:

• Contracts are not usually offered in the last hour of trade of any given market (for foreign exchange markets, the restriction is extended to 2 hours - i.e. from 22h00 GMT onwards).
• Contracts may not expire on a weekend; therefore the expiry date of a contract may be pushed back to the following Monday in the event of a contract expiry date falling on a Saturday or a Sunday.
• Foreign exchange contracts may be purchased on weekends, however certain restrictions may apply.
• Stock index closing prices are determined by reference to the official Exchange closing price, which may be reported by the relevant Exchange 30-90 minutes after the closing time, and may differ from the latest tick price that occurred at the closing time.

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8. Anti-Capital Laundering
No person shall abuse this site for the purpose of money laundering. The Company employs best-practice anti-money laundering procedures, which may have several effects on customers. The Company reserves the right to refuse to do business with, to discontinue to do business with, and to reverse the transactions of, customers who do not accept or adhere to these anti-money laundering processes. The anti-money laundering processes have the following effects on customers:

• Customers must fill into the account opening form all requested details that establish his/her identity.
• Winnings may only be paid to the initiator of an account. When a customer maintains an account by means of credit/debit card deposits, winnings are only paid back to the same card.
• No winnings may be collected on accounts opened in false names.
• The Company may, from time to time, at its sole discretion, require a customer to provide proof of identity (such as notarized copy of passport or other means of identity verification as the Company deems required under the circumstances) and may at it's sole discretion suspend an account until such proof has been provided to it's satisfaction.

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9. Ley Aplicable
Laws regarding financial betting contracts vary throughout the world, and it is the responsibility of persons accessing this site to ensure that they understand and fully comply with any laws or regulations relevant to themselves in their own country. This site does not constitute, and may not be used for the purposes of, an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation. Access to this site and the offering of financial betting contracts via this site in certain jurisdictions may be restricted and, accordingly, persons accessing this site are required to inform themselves about and to observe such restrictions.

The transactions performed on this site and the relationship between customers and the Company are to be governed by and construed in accordance with the laws of the country or jurisdiction that you have selected in the account opening procedure (the "Country"). You agree that the Country's courts will have sole jurisdiction to settle any disputes that may arise in relation thereto. For such purposes, you irrevocably submit to the jurisdiction of the courts of the Country in relation to any such dispute and you agree that any claim you might have against the Company shall only be brought before the courts of the Country

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10. Fraud.
Without detriment to other measures, BolsaQuest may suspend or close your account in the event of founded suspicions (due to sentence, confession, investigation of insurance or deposits, or otherwise) that you are involved in a fraudulent activity with respect to the BolsaQuest Website.

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11. Limit on Stakes and Winnings
BolsaQuest reserves the right to limit the maximum volume trade.
The maximum amount that may be won by account within a day period is USD/GBP/EUR 15,000 (net win excl. stakes). The maximum account size (i.e. cash balance) is USD/GBP/EUR 25,000. If the account balance exceeds USD/GBP/EUR 25,000, then withdrawals must be made to bring the balance down to under USD/GBP/EUR 25,000.

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12. Acceptance and Validation of Bets
Bets must be made online at this website.
A bet is deemed to be valid following confirmation of acceptance. This acceptance is demonstrated by the bet's transaction code that will appear on screen. When a bet is placed and accepted, the corresponding amount is charged against Customer's account. Once accepted, bets cannot be cancelled or amended in any way.

When placing the bet, the Customer confirms that he/she does not have any previous knowledge of the result of the respective event underlying the bet.

BolsaQuest reserves the right to void any bet which may be inadvertently accepted when Customer's account does not have sufficient funds to cover the amount of the bet placed.

BolsaQuest shall reserve the right to suspend or withdraw any quote at its absolute discretion.

BolsaQuest reserves the right to void any or all bets made by any person or group of persons where BolsaQuest has reasonable grounds to believe that said person or group of persons is acting in liaison in an attempt to defraud or damage BolsaQuest in any way. This can include persons, relatives, organisations, bookmakers and their employees.

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13. Liability and Indemnity
BolsaQuest shall in no way, and under no circumstances, be liable for any damages or losses resulting from, but not limited to:

• The cancellation of any event for any reason;
• any errors or omissions in the website content;
• misuse of the website content or the inability of any person to use its betting service;
• unauthorised use or misuse of Customer's username or password;
• access delays, access interruptions, data non-delivery or data mis-delivery;
• any act of God or force majeure or other circumstance(s) beyond its control.

BolsaQuest cannot be held responsible for any typing or human error in respect of the posting of odds, quotes, times or results other than those intended. BolsaQuest reserves the right to correct obvious errors and void any affected bets.

Customer agrees to release, indemnify, and hold BolsaQuest harmless against any claim brought against the company by a third party resulting from Customer's use of BolsaQuest's betting services in respect of all losses, actions, proceedings, claims, damages, expenses or liabilities whatsoever suffered and howsoever incurred by BolsaQuest in consequence of Customers non observance or breach of these Terms and Conditions.

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14. Discrepancy, Claims and Disputes
For all bets, the records and log files of BolsaQuest concerning the details of the bets are decisive.

Dates and times published by BolsaQuest are purely of indicative value. For the purpose of applying these Terms and Conditions, the official times issued by the competent governing body shall be applicable.

No claims or disputes shall be considered more than six weeks after the date of the original transaction.

If any sum is erroneously credited to Customer's account, it shall be up to Customer to point out this error to BolsaQuest. Otherwise all subsequent wins directly or indirectly ensuing from this mistake shall be cancelled.

For disputes, claims or to report account discrepancies, Customer shall contact BolsaQuest Customer Support.

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15. Data Protection
BolsaQuest may process any personal data (in accordance with the Regulations concerning Interactive Gaming and Interactive Wagering) provided by Customer in connection with the operation of Customer's Account, processing payments, keeping records and verifying identity.

Unless Customer has indicated otherwise, BolsaQuest may contact Customer with product and service related information. If Customer would prefer not to receive such communications, he/she could opt out via the 'Contact' section of the website.

Customer should assume that all website use, electronic mails and telephone calls between him/her and BolsaQuest will be recorded. These recordings will be sole property of BolsaQuest and may be used as evidence in the event of any dispute.

BolsaQuest's Privacy Policy, explaining in full how BolsaQuest uses Customer's personal information and protects his/her privacy, is available on this website.

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16. Access and Interference.
The BolsaQuest policy forbids members to interfere with either the BolsaQuest website or its operations through the use of any computer programme or activity that interferes with or attempts to interfere with BolsaQuest operations.

Our website contains "Robot exclusion headers" and you accept not to use any robot, spiders or any other automatic instrument or manual process to monitor or copy from the BolsaQuest website or the content included therein, without the express and written consent of BolsaQuest.

Users of the BolsaQuest website may only add to or amend the content in the areas destined specifically for the use of BolsaQuest members. Furthermore, the content entered by users should respect the rest of the BolsaQuest policies. Under no circumstances shall the user block, delete, overwrite or amend the content generated by or the pages of the BolsaQuest website. All locations and components of the BolsaQuest website are for the exclusive use of BolsaQuest.

You hereby accept not to use any instrument, software or routine to bridge our "robot exclusion headers", or to interfere or attempt to interfere with the normal functioning of the BolsaQuest website or in any auction being carried out therein. You also accept not to carry out any action that entails an excessive or disproportionate load on the BolsaQuest infrastructure. A large part of the information on the BolsaQuest website is updated in real time and is the property of or transferred via a license to BolsaQuest by its users or third parties. You hereby accept not to copy, reproduce, alter, amend, create work deriving from or make any public communication of any content (except for your own details) on the BolsaQuest website without the express and written consent of BolsaQuest or the relevant third party.

You must not take any action that could undermine the integrity of the evaluation system.

In the event of non-compliance with this policy, BolsaQuest shall take the disciplinary action that could lead to the indefinite suspension of a user's account, temporary suspension or formal warning. BolsaQuest shall take into account the circumstances under which any possible offence occurs and shall review the user history before implementing any measures.

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17. Non-fulfilment.
Without detriment to any other measures, BolsaQuest shall issue you a warning and temporarily or definitively suspend or cancel your user status, and shall cease to render you services if:

1. You fail to comply with these Conditions of Use or any documents referred to herein, and which are understood to form an integral part hereof;
2. BolsaQuest is unable to check or authenticate any information provided by you;
3. BolsaQuest believes that your actions could give rise to liability for you, BolsaQuest or its users.

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18. System Interruption Policy
Our maximum priority is to see that your commercial transactions are carried out correctly. Nevertheless, from time to time system failures occur which prevent users from making purchases or locating contracts. When these failures occur, we offer our users this system failure policy out of courtesy to compensate them for any inconveniences that may be caused.

What do we consider a serious system failure?
A serious system failure is when nobody can make any purchases (specifically, when it is not possible to access the contracts page and/or the functions located therein are unavailable) as a result of unscheduled inactivity of the system.

What do we consider a contract search system failure?
This type of failure occurs when it is not possible to access a specific contract due to the unscheduled inactivity of the system.

BolsaQuest will not compensate any user for inconveniences caused by system failures caused by force majeure or acts of God.

Scheduled inactivity
BolsaQuest will occasionally schedule periods of inactivity for maintenance or other purposes. These periods of inactivity are not covered by the aforementioned policy.