General Terms and Conditions
1. Payment terms: As Mentioned in the Functional Quotation.
2. Product delivery: The development company (DC) will deliver the final compiled software (EXE/DLL file) to the Client. Issues with any third-party system, tools, hardware, networks, and/or market data are not the responsibility of the DC and will not constitute successful delivery.
3. Maintenance definition: would include only troubleshooting/bugs in the delivered system. Any additions, modifications, tweaks, improvements in the agreed scope will entail additional costs. DC will provide cost estimates for any such requirement to the Client for approval.
4. Bug reporting: All bugs should be shared by the Client by email, with all the information as per the bug reporting format. The client will also provide necessary access to software logs.
5. Live production support: is NOT included. If you would like to avail of this service, please email us at info@myalgomate.com.
6. Cost: is on a net payable basis. Taxes, third-party charges, and government levies (if any) are extra and payable by the Client. The costing shared is an estimate based on the requirements shared. It may be subject to change after a detailed discussion with the tech team. The revised costing, if any, will be sent to the client for approval before the commencement of the project.
7. Payment delays: In case of delays in payment by Client beyond 5 working days from the DC email, then the Client will pay delay charges at 18% p.a. on total project cost.
8. Incidental charges: Broker API charges, hardware costs, and all other incidental charges will be borne by the Client throughout the development as well as production lifecycles.
9. Financial Indemnity: The DC does not bear any financial responsibility for the performance of the system. The Client indemnifies the DC against all claims.
10.Confidentiality: DC may sign an NDA/Confidentiality Agreement with the Client. The DC would agree on non-disclosure of any client logic or intellectual property. Further, the DC agrees not to re-use, re-package or re-distribute the client’s algorithm to any other client. The Client would agree on non-disclosure of any financial terms of this contract. Legal expenses (if any) to be borne by the Client.
11.Exchange Approval Process: This is the sole responsibility of the Client and their Broker. However, DC can assist the Broker with the process (if required).
12.Instances: Costing provided is for delivery of one instance only, unless otherwise specified. Any additional instances will entail a cost. The client has advised the minimum hardware requirements for running the software per instance.
13.Multi-client: General Costing provided includes up to a maximum of 1 client IDs. A higher number of client IDs will entail additional costs.
14.UAT environment: is the sole responsibility of the Client and the Broker. The client should validate the functionality and technology with the Broker. DC is not responsible for the Broker(s) technology.
15.Marketing: The Client permits the DC to use generic information about the project and client in its marketing collateral. No IP will be shared by DC.
16.Technical Indicators: will be coded as per the formula provided by the Client. The values may not match any charting software.
17.Start date: This may vary depending on the current project load and project confirmation date.
18.Refund policy: Project, once confirmed, cannot be cancelled. No refunds will be issued.
19.Non-solicitation. The Client agrees not to hire or solicit for employment, consulting, or any other financial interaction any employees who are employed by the DC or who were employed by the DC during the term of this Agreement for two years following delivery of the project without the prior written consent of the DC.
20.Force Majeure. DC shall be excused from delays in project delivery or from failing to deliver the project to the extent that the delays or failures result from causes beyond the reasonable control of the party.
