Terms of Service

These Terms of Service (the "Terms") govern your access to and use of Returnolio - the website at returnolio.com, the application at app.returnolio.com, and any related services (collectively, the "Service"). The Service is operated by Bodri Tamás EV (a sole proprietor / egyéni vállalkozó registered in Hungary; seat: Hajnal utca 10., 2000 Szentendre; tax number: 92208980-1-33; trading as "Returnolio") (the "Operator", "we", "our", or "us").

By accessing or using the Service, you agree to be bound by these Terms and our Privacy Policy. If you do not agree, you must not use the Service.

1. Nature of the Service - financial publisher, not adviser

Returnolio is a financial publisher and educational research platform. The Service is, and is operated as, a bona fide publication of regular and general circulation within the meaning of Lowe v. SEC, 472 U.S. 181 (1985), and the publisher's exclusion from the definition of "investment adviser" under Section 202(a)(11)(D) of the U.S. Investment Advisers Act of 1940 (and the substantively similar exclusions under U.S. state and non-U.S. law). All content is published on a recurring schedule, made available to all subscribers within a tier on the same terms, and prepared without regard to any individual subscriber's situation, objectives, or needs.

Returnolio is NOT an investment adviser, financial adviser, broker-dealer, futures commission merchant, commodity trading advisor, money manager, fiduciary, bank, custodian, insurance company, tax adviser, accountant, or law firm, and is not registered as any of the foregoing with the U.S. Securities and Exchange Commission, FINRA, any U.S. state securities authority, or any equivalent regulator. No such registration is required for the activities carried out through the Service.

Nothing in the Service constitutes, or should be construed as, investment, financial, securities, trading, tax, accounting, legal, retirement, insurance or estate-planning advice, nor a recommendation, endorsement, solicitation or offer to buy, sell or hold any security or asset. The Service does not, and cannot, take into account your personal circumstances. See the full Disclaimer, which is incorporated into and forms part of these Terms by reference.

2. Eligibility

• You are at least 18 years old and have full legal capacity to enter into binding contracts in your jurisdiction.
• You are not located in a jurisdiction subject to comprehensive sanctions by the European Union, the United Nations, the United Kingdom, or the United States.
• You are not on any sanctions or restricted-persons list maintained by the foregoing authorities.
• You are not a person to whom local law forbids access to financial-research tools.

3. Account & security

You agree to provide accurate registration information, keep your credentials confidential, and notify us immediately of any unauthorised access. You are solely responsible for all activity under your account. We may suspend or terminate accounts that show signs of compromise, sharing, abuse, or breach of these Terms.

4. Subscriptions, billing & taxes

Paid plans are offered on a monthly or annual basis at the prices shown on our pricing page at the time you subscribe. Prices are stated excluding applicable VAT, sales tax, or other government charges, which will be added at checkout where required. Billing is processed by our payment provider; by subscribing you also agree to that provider's terms.

Subscriptions auto-renew at the end of each billing cycle at the then-current price unless you cancel at least 24 hours before renewal. We will email a notice 2 - 7 days before each annual renewal.

5. Free plan

We offer a free plan so you can evaluate the platform before paying. We do not run a separate free trial of the paid plans: when you choose a paid plan it begins, and is billed, from day one. You can cancel at any time, and our refund policy below applies.

6. Cancellation & refunds

You may cancel at any time from inside the app. Cancellation takes effect at the end of the current billing period; you keep access until then. Where mandatory consumer-protection law (including, without limitation, EU consumer rights) entitles you to a statutory right of withdrawal, those rights apply and override any narrower terms below.

Beyond statutory rights, refunds are at our discretion: we offer a 7-day refund window on a first paid month for new Core subscribers, and we will pro-rate annual plan refunds on cancellation requests received within 30 days of the annual charge.

7. Acceptable use

You will not, and will not allow any third party to:

• copy, scrape, or systematically download the Service or its data;
• use any automated means (bots, crawlers, headless browsers) to access the Service except in accordance with a documented API and rate limits we publish;
• reverse-engineer, decompile, or attempt to derive the source code, models or algorithms of the Service;
• resell, sublicense, or commercially redistribute Service content;
• publicly post, broadcast or share paid-tier content (including Top-10 lists, fair-value pages, or model outputs) without our written permission;
• use the Service to develop a competing product;
• circumvent any usage limits, paywalls, geographic restrictions, or security controls;
• upload malicious code or attempt to disrupt the Service;
• front-run, manipulate, or otherwise abuse the Service, including by trading ahead of publication of Top-10 list changes, RTEP-score updates or rating changes, by attempting to manipulate the price or trading volume of any security discussed on the Service, or by coordinating such activity with others;
• submit, post or transmit any material non-public information in support tickets, user content or any other interaction with us; you represent that any information you provide us is yours to share and was lawfully obtained;
• create more than one account per natural person, or create an account on behalf of another person without their lawful authorisation.

8. User content

You retain ownership of any content you submit (e.g. portfolio holdings, watchlists, support tickets). You grant us a limited, non-exclusive, royalty-free licence to use that content solely to operate, support and improve the Service. You represent that your content does not infringe any third-party rights and complies with applicable law.

9. Intellectual property

Except for your content, all intellectual property in and to the Service - including the underlying software, design, models (such as RTEP), data compilations, brand, logos and editorial content - is owned by us or our licensors and protected by Hungarian, EU and international IP law. We grant you a limited, revocable, non-transferable, non-exclusive licence to access and use the Service for your personal, non-commercial use, in accordance with these Terms.

10. Third-party services

The Service may integrate or rely on third-party services (e.g. financial data providers, payment providers, email providers, analytics). We are not responsible for the availability, accuracy, content, terms, or security practices of any third-party service. Your use of those services is governed by their own terms.

11. Disclaimers - "as is", "as available"

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE", WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, NON-INFRINGEMENT, QUIET ENJOYMENT, OR ANY WARRANTY ARISING FROM COURSE OF DEALING OR USAGE OF TRADE.

Without limiting the foregoing, we do not warrant that: (a) the Service will be uninterrupted, secure or error-free; (b) any data, fair-value estimate, score, ranking or analysis will be accurate, complete, timely, current or reliable; (c) the Service will achieve any specific investment, financial or other result; or (d) the Service is suitable for your particular circumstances.

12. Limitation of liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW:

• IN NO EVENT WILL WE, OUR AFFILIATES, OFFICERS, EMPLOYEES, AGENTS OR LICENSORS BE LIABLE TO YOU FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY OR PUNITIVE DAMAGES, INCLUDING WITHOUT LIMITATION LOST PROFITS, LOST OPPORTUNITIES, INVESTMENT LOSSES, LOSS OF DATA, LOSS OF GOODWILL, OR BUSINESS INTERRUPTION, ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICE, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
• OUR AGGREGATE LIABILITY ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICE WILL NOT EXCEED THE GREATER OF (a) EUR 100 OR (b) THE TOTAL AMOUNT YOU PAID TO US FOR THE SERVICE IN THE 12 MONTHS PRECEDING THE EVENT GIVING RISE TO THE CLAIM.

Nothing in these Terms excludes or limits liability that cannot be excluded or limited under applicable law (e.g. liability for fraud, gross negligence, wilful misconduct, death, or personal injury caused by us, or mandatory consumer rights).

13. Indemnification

To the maximum extent permitted by law, you agree to defend, indemnify and hold harmless the Company and its affiliates, officers, directors, employees and agents from and against any and all claims, damages, liabilities, losses, costs and expenses (including reasonable legal fees) arising out of or related to: (a) your use of the Service; (b) any investment, financial or other decision you take based on the Service; (c) your breach of these Terms; or (d) your violation of any third-party right or applicable law.

14. Termination

We may suspend or terminate your access to the Service at any time, with or without notice, if we reasonably believe you have breached these Terms or applicable law, or if continued provision of the Service to you would expose us to legal or operational risk. On termination, your right to use the Service ends immediately. Sections 1, 7 - 13, 15 - 17 and any provision that by its nature should survive will survive termination.

15. Changes

We may update these Terms or the Service from time to time. Material changes will be announced by email or in-app notice at least 14 days in advance, except where a change is required for legal, security or service-continuity reasons. Continued use of the Service after the effective date of an update means you accept the updated Terms.

16. Governing law & disputes

These Terms are governed by the laws of Hungary, without regard to its conflict-of-law rules, and excluding the UN Convention on Contracts for the International Sale of Goods. Mandatory consumer-protection rules of your country of habitual residence continue to apply where applicable.

Before bringing any formal proceeding, you agree to first contact us at support@returnolio.com and attempt to resolve the matter informally for at least 30 days.

Arbitration for U.S. residents. If you are a resident of the United States, you and Returnolio agree that any dispute arising out of or relating to these Terms or the Service that is not resolved through informal contact will be resolved through binding individual arbitration administered by JAMS under its Streamlined Arbitration Rules, seated in New York, New York, in the English language. You waive any right to a jury trial and to participate in any class action or class arbitration against Returnolio, except where applicable law prohibits such waiver. Either party may bring an individual claim in small-claims court for any matter that qualifies. Nothing in this clause prevents you or us from seeking injunctive relief in court for the protection of intellectual property or confidential information.

Right to opt out of arbitration. You may opt out of the arbitration agreement above by mailing a signed, written notice to Bodri Tamás EV, Legal Department, at the postal address most recently published on our Imprint page, postmarked within thirty (30) days of the later of (a) your first acceptance of these Terms, or (b) the effective date of any material amendment to this arbitration clause. The notice must include your full name, the email on your account, and a clear statement that you wish to opt out. Opting out does not affect any other provision of these Terms.

Statute of limitations. To the maximum extent permitted by applicable law, any claim arising out of or relating to these Terms or the Service must be brought within one (1) year after the cause of action arises; otherwise it is permanently barred. This shortened limitation does not apply where prohibited by applicable law (including, for many EU consumers, mandatory longer statutory periods).

EU consumers may use the European Commission's online dispute resolution platform at ec.europa.eu/consumers/odr. Subject to mandatory consumer rights and the U.S. arbitration clause above, the courts of Budapest, Hungary will have exclusive jurisdiction.

17. Force majeure

We are not liable for any failure or delay in performance caused by events outside our reasonable control, including without limitation acts of God, war, terrorism, civil unrest, labour disputes, epidemics or pandemics, governmental action, internet or power failures, or third-party service outages.

18. Severability & entire agreement

If any provision of these Terms is held invalid or unenforceable, that provision will be enforced to the maximum extent permissible and the remaining provisions will remain in full force. These Terms, together with the Privacy Policy and Disclaimer, constitute the entire agreement between you and us with respect to the Service and supersede any prior agreements.

19. Contact

Bodri Tamás EV - support@returnolio.com