Business User Terms of Service
Last Updated: April 3, 2023
- Application to Business Users; Agreement to Terms; ABTkn Additional Terms.
(a) Business User. If you are accessing and using the Services as a business or on behalf of a business (e.g., your employer), including without limitation, a custodian, an institutional client or technology company (each, a “Business User”), these terms apply to you. If you are accessing and using the Services as an individual consumer, then your use of the Services is subject to the Individual User Terms of Services located at https://appraisalbureau.com/terms-of-service/, and these Terms do NOT apply.
(b) Agreement to Terms. By using our Services, you agree to be bound by these Terms. If you don’t agree to be bound by these Terms, do not use the Services. If you are accessing and using the Services on behalf of a business (e.g., your employer), you represent and warrant that you have the authority to bind that entity to these Terms. In that case, “you” and “your” will refer to that business. If you are a business, you will also ensure that your employees, end-users and customers comply with the Terms and will be solely liable for any use of or receipt by such persons of the Services hereunder.
(c) Appraisal Bureau Entity. In addition, if you are using the Services to obtain an appraisal of one or more works of art associated with a digital asset and/or non-fungible token (collectively, “Digital Assets”), including art linked by an ABTkn (as defined below), the applicable Appraisal Bureau entity with which you are contracting via these Terms is Appraisal Bureau, LLC. If you are using the Services to obtain an appraisal of one or more tangible works of art, except for tangible works of arts that are associated with ABTkns, the applicable Appraisal Bureau entity with which you are contracting via these Terms is Appraisal Bureau FA, LLC. You agree that each Appraisal Bureau entity is individually liable where you are contracting with such entity and not jointly and severally liable. As used, herein, “Appraisal Bureau” refers to the applicable entity providing the appraisal Services as described above.
(d) ABTkn Terms. Please note that your creation or use of any ABTkn non-fungible token (“ABTkn”) is subject to additional terms and conditions located in the Rider titled “ABtkn Purchase and License Agreement” following Section 19 below, which is hereby incorporated herein. If there is any conflict or inconsistency between the ABtkn Purchase and License Agreement and these Terms with respect to the creation or use of ABTkns, the ABtkn Purchase and License Agreement will control.
3. Changes to these Terms or the Services. We may update the Terms from time to time in our sole discretion. If we do, we’ll let you know by posting the updated Terms on the Site, to the App and/or may also send other communications. It’s important that you review the Terms whenever we update them or you use the Services. If you continue to use the Services after we have posted updated Terms it means that you accept and agree to the changes. If you don’t agree to be bound by the changes, you may not use the Services anymore. Because our Services are evolving over time we may change or discontinue all or any part of the Services, at any time and without notice, at our sole discretion. If we do, we will provide you with notice of such changes and your continued use of the Services signifies your acceptance of such changes. If you do not accept such changes, you may notify us of your rejection of such changes, discontinue your use of the Services, and request a refund for all prepaid unused Services hereunder.
4. Who May Use the Services?
You may use the Services only if you are 18 years or older and capable of forming a binding contract with Appraisal Bureau, and not otherwise barred from using the Services under applicable law.
5. Appraisal Services.
(a) Overview. Appraisal Bureau provides appraisal services for Digital Assets and other artworks through its proprietary appraisal methods utilized as part of the Services. You may purchase appraisal services from Appraisal Bureau through the App or Site. In rare situations, you may work with Appraisal Bureau to develop a bespoke appraisal plan for your specific needs; in such event, the appraisal plan and related payment details will be agreed in a separate written estimate letter, if applicable, which shall be expressly incorporated herein by reference and are made part of these Terms. Once you purchase appraisals and provide the required documentation, Appraisal Bureau will perform the appraisal and provide you with an appraisal report subject to and in accordance with the process set forth in these Terms.
(b) Digital Asset Documentation and Works Documentation. You agree to provide Appraisal Bureau with the documentation with respect to the Digital Asset(s) and/or work(s) required and requested by Appraisal Bureau to complete the appraisal (“Digital Asset Documentation”). Delays in Appraisal Bureau’s receipt of requested documentation may result in Appraisal Bureau being unable to deliver the appraisal report on the agreed-upon delivery date. Appraisal Bureau will have no liability for its failure or delay in performance of the Services resulting from your delay in providing all requested Digital Asset Documentation. You will be responsible for ensuring that all such Digital Asset Documentation is accurate and complete.
(c) Appraisal Report; Statements and Conditions. The appraisal performed under these Terms will be subject to all statements, assumptions, limiting conditions and other conditions (collectively, “Appraisal Conditions”) set forth in the appraisal report. You agree that you will review the Appraisal Conditions upon receipt of the report and that your use of the appraisal report provided in connection with the Services will constitute acceptance of the Appraisal Conditions. The Appraisal Conditions will be considered as being incorporated into and forming part of these Terms with respect to the appraisal in which they are contained and to the services relating to that appraisal.
(d) When Appraisal Bureau’s Obligations Are Complete. Appraisal Bureau’s obligations under these Terms are complete when the appraisal report specified above has been delivered to you. Appraisal Bureau agrees to be reasonably responsive to your legitimate inquiries regarding the contents of the appraisal report after delivery but will not modify or change the appraisal report except in its sole good faith discretion in accordance with industry standards. For the avoidance of doubt, with respect to any Digital Asset which is the subject of an ongoing Services subscription, all future Digital Asset appraisals to be provided by Appraisal Bureau as part of such subscriptions are independent Services obligations.
(e) Withdrawal of Appraisal Bureau prior to Completion of Assignment. Appraisal Bureau may withdraw without penalty or liability from the assignment contemplated under these Terms before completion or reporting of the appraisal in the event that Appraisal Bureau determines, in its sole discretion, that incomplete information was provided to Appraisal Bureau in connection with the Services, that you or other parties have not or cannot provide Appraisal Bureau with Digital Asset Documentation or information necessary to Appraisal Bureau’s analysis or reporting, that conditions of the subject property render the original scope of work inappropriate, that Appraisal Bureau becomes aware that it is unable to provide the Services within the meaning of applicable professional standards, that a conflict of interest has arisen, or that you have not complied with your payment obligations under these Terms. Appraisal Bureau will notify you of such withdrawal in writing.
(f) Services Not Provided. The fees set forth in Section 6 of these Terms apply to the Services, including the appraisal services, rendered by Appraisal Bureau as set forth in these Terms. Unless otherwise specified herein, Appraisal Bureau’s services for which the fees in these Terms apply do not include any other professional services including without limitation, meetings with persons other than you, your personnel or your agents or professional advisors; Appraisal Bureau’s deposition(s) or testimony before judicial, arbitration or administrative tribunals; or any preparation associated with such depositions or testimony. Any additional services performed by Appraisal Bureau not set forth in these Terms will be performed on terms and conditions set forth in an amendment to these Terms or in a separate written agreement.
(g) Testimony in Court or Other Proceedings. Unless otherwise stated in these Terms, you agree that Appraisal Bureau’s engagement pursuant to these Terms does not include Appraisal Bureau’s participation in or preparation for, whether voluntarily or pursuant to subpoena, any oral or written discovery; sworn testimony in a judicial, arbitration or administrative proceeding (“Legal Inquiry”); or attendance at any judicial, arbitration or administrative proceeding relating to this assignment. Unless otherwise stated in these Terms, you will not designate or disclose Appraisal Bureau or any of your personnel as an expert witness in any court, arbitration or other proceeding without the prior written consent of Appraisal Bureau. To the extent Appraisal Bureau elects or otherwise is compelled to respond to any Legal Inquiry, you will reimburse Appraisal Bureau for all travel and other costs, charges or fees in accordance with Appraisal Bureau’s then-current hourly rate and any reasonable outside legal expenses incurred.
6. Payment. Appraisal Bureau requires payment of fees for use of the Services (or certain portions thereof) and you agree to pay such fees, as further described below. For Appraisal Bureau’s performance of Services, you will pay Appraisal Bureau fees calculated in accordance with: (a) the pricing terms agreed in writing by the parties, or if no such pricing terms were agreed, (b) the specific pricing information made available by Appraisal Bureau as its standard appraisal rates for the Services. With respect to appraisals of Digital Assets, you must pay a semi-annual (i.e., every six months) fee under a subscription model (such model, a “Subscription” and such fee, a “Subscription Fee”). With respect to appraisals of fine art, whether as one appraisal or a bundle of appraisals, you must pay the one-time non-refundable payment that is described in the invoice link provided to you in full (“One-Time Payment”) and may elect to subscribe to an optional add-on Subscription for an annual, semi-annual, or quarterly fine art appraisal, with the applicable Subscription Fee to be paid annually, up-front. You acknowledge and agree that the One-Time Payment and Subscription Fee may include or reflect an additional payment processing fee, depending on the payment method you select. Fees are subject to change within Appraisal Bureau’s sole discretion. In the event of any fee change, Appraisal Bureau will notify you prior to performance of the applicable Services bearing such fee change.
(a) General. Whether you make a One-Time Payment or purchase a Subscription (each, a “Transaction”), you expressly authorize us (or our third-party payment processor) to charge you for such Transaction. We may ask you to supply additional information relevant to your Transaction, including your credit card number, the expiration date of your credit card and your email and postal addresses for billing and notification (such information, “Payment Information”). You represent and warrant that you have the legal right to use all payment method(s) represented by any such Payment Information. When you initiate a Transaction, you authorize us to provide your Payment Information to third parties so we can complete your Transaction and to charge your payment method for the type of Transaction you have selected (plus any applicable taxes and other charges). You may need to provide additional information to verify your identity before completing your Transaction (such information is included within the definition of Payment Information). By initiating a Transaction, you agree to the pricing, payment and billing policies applicable to such fees and charges, as posted or otherwise communicated to you. All payments for Transactions are non-refundable and non-transferable except as expressly provided in these Terms. All fees and applicable taxes, if any, are payable in United States dollars.
(b) Subscriptions. If you purchase a Subscription, you will be charged the applicable Subscription Fee, plus any applicable taxes, and other charges, at the beginning of your Subscription and each six (6) months thereafter (or 12 months thereafter, in the case of an annual add-on Subscription for fine art appraisals), at the then-current pricing. BY PURCHASING A SUBSCRIPTION, YOU AUTHORIZE APPRAISAL BUREAU TO INITIATE RECURRING NON-REFUNDABLE PAYMENTS AS SET FORTH BELOW. If you purchase a Subscription, we (or our third-party payment processor) will automatically charge you every six months from the commencement of your Subscription, using the Payment Information you have provided until you cancel your Subscription. No less than thirty (30) days and no more than sixty (60) days before your Subscription term ends, or otherwise in accordance with applicable law, Appraisal Bureau will send you a reminder with the then-current Subscription Fee. By agreeing to these Terms and electing to purchase a Subscription, you acknowledge that your Subscription has recurring payment features and you accept responsibility for all recurring payment obligations prior to cancellation of your Subscription by you or Appraisal Bureau. Your Subscription continues until cancelled by you or we terminate your access to or use of the Services or Subscription in accordance with these Terms.
(c) Cancelling One-Time Payment or Subscription. YOUR PURCHASE FOR EACH TRANSACTION IS FINAL AND YOU WILL NOT BE ABLE TO CANCEL THE PURCHASE AND/OR RECEIVE A REFUND OF YOUR PAYMENT AT ANY TIME. But if something unexpected happens in the course of completing a Transaction, we reserve the right to cancel your Transaction for any reason; if we cancel your Transaction we’ll refund any payment you have already remitted to us for such Transaction. Without limiting the foregoing, you may cancel your Subscription at any time, but please note that such cancellation will be effective at the end of the then-current Subscription period. EXCEPT AS SET FORTH ABOVE WITH RESPECT TO YOUR INITIAL SUBSCRIPTION PURCHASE, YOU WILL NOT RECEIVE A REFUND OF ANY PORTION OF THE SUBSCRIPTION FEE PAID FOR THE THEN CURRENT SUBSCRIPTION PERIOD AT THE TIME OF CANCELLATION. To cancel, you can send an email to email@example.com. You will be responsible for all Subscription Fees (plus any applicable taxes and other charges) incurred for the then-current Subscription period. If you cancel, your right to use the Services will continue until the end of your then current Subscription period and will then terminate without further charges.
(d) Taxes. All fees, expenses and other amounts payable to Appraisal Bureau hereunder do not include any sales, use, value added or other applicable taxes, tariffs or duties, payment of which will be the sole responsibility of you (excluding any taxes based on Appraisal Bureau’s net income). You will promptly reimburse Appraisal Bureau for any such amounts that Appraisal Bureau pays on your behalf.
7. Feedback. We appreciate feedback, comments, ideas, proposals and suggestions for improvements to the Services (“Feedback”). If you choose to submit Feedback, you agree that we are free to use it without any restriction or compensation to you.
8. Intellectual Property; User Content.
(a) Posting Content. Our Services may allow you to store or share content such as text (in posts or communications with others), files, data, information, documents, Digital Assets, graphics, images, music, software, audio and video. Anything (other than Feedback) that you post or otherwise make available through the Services is referred to as “User Content”. Appraisal Bureau does not claim any ownership rights in any User Content and nothing in these Terms will be deemed to restrict any rights that you may have to your User Content.
(b) Permissions to Your User Content. By making any User Content available through the Services you hereby grant to Appraisal Bureau a non-exclusive, transferable, worldwide, royalty-free license, with the right to sublicense, to use, copy, modify, create derivative works based upon, distribute, publicly display, and publicly perform your User Content in connection with operating and providing the Services. The foregoing license grant includes the right for us to derive or aggregate data from any data you provide to us, and use such data for any lawful purpose, including, without limitation, any usage data or trends with respect to the Services and their component features and functionalities, in each case in anonymized form.
(c) Your Responsibility for User Content. You are solely responsible for all your User Content. You represent and warrant that you have (and will have) all rights that are necessary to grant us the license rights in your User Content under these Terms. You represent and warrant that neither your User Content, nor your use and provision of your User Content to be made available through the Services, nor any use of your User Content by Appraisal Bureau on or through the Services will infringe, misappropriate or violate a third party’s intellectual property rights, or rights of publicity or privacy, or result in the violation of any applicable law or regulation.
(d) Removal of User Content. You can remove your User Content by specifically deleting it. You should know that in certain instances, some of your User Content (such as posts or comments you make) may not be completely removed and copies of your User Content may continue to exist on the Services. To the maximum extent permitted by law, we are not responsible or liable for the removal or deletion of (or the failure to remove or delete) any of your User Content.
(e) Appraisal Bureau. Subject to your rights in the Digital Asset Documentation, and except for the appraisal report, Appraisal Bureau will exclusively own all rights, title and interest in and to any software programs, code, methodologies, algorithms, techniques, know-how, tools, utilities, processes, inventions, devices, specifications, documentation, and materials of any kind used or developed by Appraisal Bureau or its personnel in connection with performing Services (collectively “Appraisal Bureau Materials”), including all worldwide patent rights, copyright rights, trade secret rights, and any other intellectual property rights (“Intellectual Property Rights”) therein. You will have no rights in any Appraisal Bureau Materials except as expressly set forth in these Terms.
(f) Freedom of Action. Nothing in these Terms will be deemed to restrict or limit Appraisal Bureau’s right to perform similar services for any other party or to assign any employees or subcontractors to perform similar services for any other party.
9. Rights and Terms for Apps.
(a) App License. If you comply with these Terms, Appraisal Bureau grants to you a limited non-exclusive, non-transferable license, with no right to sublicense, to download and install the App on your personal computers, mobile handsets, tablets, wearable devices, and/or other devices and to run the App solely for your own personal non-commercial purposes. Except as expressly permitted in these Terms, you may not: (i) copy, modify or create derivative works based on the App; (ii) distribute, transfer, sublicense, lease, lend or rent the App to any third party; (iii) reverse engineer, decompile or disassemble the App (unless applicable law permits, despite this limitation); or (iv) make the functionality of the App available to multiple users through any means.
(b) Additional Information: Apple App Store. This Section 9(b) applies to any App that you acquire from the Apple App Store or use on an iOS device. Apple has no obligation to furnish any maintenance and support services with respect to the App. In the event of any failure of the App to conform to any applicable warranty, you may notify Apple, and Apple will refund the App purchase price to you (if applicable) and, to the maximum extent permitted by applicable law, Apple will have no other warranty obligation whatsoever with respect to the App. Apple is not responsible for addressing any claims by you or any third party relating to the App or your possession and use of it, including, but not limited to: (i) product liability claims; (ii) any claim that the App fails to conform to any applicable legal or regulatory requirement; and (iii) claims arising under consumer protection or similar legislation. Apple is not responsible for the investigation, defense, settlement and discharge of any third-party claim that your possession and use of the App infringe that third party’s intellectual property rights. Apple and its subsidiaries, are third-party beneficiaries of these Terms, and upon your acceptance of the Terms, Apple will have the right (and will be deemed to have accepted the right) to enforce these Terms against you as a third-party beneficiary thereof. You represent and warrant that (i) you are not located in a country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a terrorist-supporting country; and (ii) you are not listed on any U.S. Government list of prohibited or restricted parties. You must also comply with any applicable third-party terms of service when using the App.
10. General Prohibitions and Appraisal Bureau’s Enforcement Rights. You agree not to do any of the following:
(a) Post, upload, publish, submit or transmit any User Content that: (i) infringes, misappropriates or violates a third party’s patent, copyright, trademark, trade secret, moral rights or other intellectual property rights, or rights of publicity or privacy; (ii) violates, or encourages any conduct that would violate, any applicable law or regulation or would give rise to civil liability; (iii) is fraudulent, false, misleading or deceptive; (iv) is defamatory, obscene, pornographic, vulgar or offensive; (v) promotes discrimination, bigotry, racism, hatred, harassment or harm against any individual or group; (vi) is violent or threatening or promotes violence or actions that are threatening to any person or entity; or (vii) promotes illegal or harmful activities or substances;
(b) Use, display, mirror or frame the Services or any individual element within the Services, Appraisal Bureau’s name, any Appraisal Bureau trademark, logo or other proprietary information, or the layout and design of any page or form contained on a page, without Appraisal Bureau’s express written consent;
(c) Access, tamper with, or use non-public areas of the Services, Appraisal Bureau’s computer systems, or the technical delivery systems of Appraisal Bureau’s providers;
(d) Attempt to probe, scan or test the vulnerability of any Appraisal Bureau system or network or breach any security or authentication measures;
(e) Avoid, bypass, remove, deactivate, impair, descramble or otherwise circumvent any technological measure implemented by Appraisal Bureau or any of Appraisal Bureau’s providers or any other third party (including another user) to protect the Services;
(f) Attempt to access or search the Services or download content from the Services using any engine, software, tool, agent, device or mechanism (including spiders, robots, crawlers, data mining tools or the like) other than the software and/or search agents provided by Appraisal Bureau or other generally available third-party web browsers;
(g) Send any unsolicited or unauthorized advertising, promotional materials, email, junk mail, spam, chain letters or other form of solicitation;
(h) Use any meta tags or other hidden text or metadata utilizing an Appraisal Bureau trademark, logo URL or product name without Appraisal Bureau’s express written consent;
(i) Use the Services, or any portion thereof, for any commercial purpose or for the benefit of any third party or in any manner not permitted by these Terms;
(j) Forge any TCP/IP packet header or any part of the header information in any email or newsgroup posting, or in any way use the Services to send altered, deceptive or false source-identifying information;
(k) Attempt to decipher, decompile, disassemble or reverse engineer any of the software used to provide the Services;
(l) Interfere with, or attempt to interfere with, the access of any user, host or network, including, without limitation, sending a virus, overloading, flooding, spamming, or mail-bombing the Services;
(m) Collect or store any personally identifiable information from the Services from other users of the Services without their express permission;
(n) Impersonate or misrepresent your affiliation with any person or entity;
(o) Violate any applicable law or regulation; or
(p) Encourage or enable any other individual to do any of the foregoing.
Appraisal Bureau is not obligated to monitor access to or use of the Services or to review or edit any content. However, we have the right to do so for the purpose of operating the Services, to ensure compliance with these Terms and to comply with applicable law or other legal requirements. We reserve the right, but are not obligated, to remove or disable access to any content, including User Content, at any time and without notice, including, but not limited to, if we, at our sole discretion, consider it objectionable or in violation of these Terms. We have the right to investigate violations of these Terms or conduct that affects the Services. We may also consult and cooperate with law enforcement authorities to prosecute users who violate the law.
11. Links to Third Party Websites or Resources. The Services (including the App) may allow you to access third-party websites or other resources. We provide access only as a convenience and are not responsible for the content, products or services on or available from those resources or links displayed on such websites. You acknowledge sole responsibility for and assume all risk arising from, your use of any third-party resources.
12. Termination. We may suspend or terminate your access to and use of the Services, including suspending access to or terminating your account, at our sole discretion, at any time. If we suspend or terminate your account, we will provide notice to you and will return all materials you submitted for appraisal. You may cancel your account at any time by sending us an email at firstname.lastname@example.org. Upon any termination, discontinuation or cancellation of the Services or your account, the following Sections will survive: 6 (for payments due and owing to Appraisal Bureau prior to the termination), 8(b), 8(c), 8(e), 10, 12, 13 through 18.
13. Your Representations and Warranties. You represent and warrant to Appraisal Bureau that:
(a) The works provided to Appraisal Bureau and your duties and obligations under these Terms do not conflict with any other duties or obligations assumed by you under any agreement between you and any other party nor violate any third party intellectual property or other rights;
(b) You have not engaged Appraisal Bureau, nor will you use Appraisal Bureau’s appraisal report, any Digital Asset, or any asset or property which is the subject of any appraisal for any purposes that violate any federal, state or local law, regulation or ordinance or common law or any fraudulent or other means that violate any third party rights.
(c) You will not use the value of any Digital Asset for capital raising purposes.
(d) You have and will continue to comply with all “know your customer” requirements, anti-money laundering and counter-terrorism financing laws, and sanctions/asset control laws that may apply to you.
(e) At no time will any of your services or marketing efforts violate any applicable securities or other laws, rules, or regulations including without limitation encouraging speculative behavior in connection with any Digital Asset or indicating that the value of any Digital Asset is derived from or linked to your efforts or labor. By engaging the appraisal services contemplated herein, you represent and warrant that you understand the inherent risks associated with using cryptographic and blockchain-based systems, and that you have a working knowledge of the usage and intricacies of digital assets such as bitcoin (BTC), ether (ETH), and other digital tokens such as those following the Ethereum Token Standard (ERC-20 or ERC-721).
(f) You further represent and warrant that in the performance of its rights and obligations under these Terms, you will comply with all laws, rules, and regulations of any jurisdiction applicable to it from time to time concerning or relating to: (a) bribery or corruption, including, without limitation, the U.S. Foreign Corrupt Practices Act (“FCPA”); (b) anti-money laundering, including, without limitation the Bank Secrecy Act of 1970 and the USA PATRIOT Act of 2001, (c) economic or financial sanctions, export controls, trade embargoes or other similar prohibitions or restrictions on activity imposed by a U.S. or other relevant government authority, including without limitation the U.S. Office of Foreign Assets Control (“OFAC”) sanctions and the U.S. Export Administration Regulations (“EAR). Should you learn of, or have reasons to know of, any violations of the laws, rules and regulations listed above in connection with the performance of these Terms, you will immediately notify Appraisal Bureau. You represent that you are not, nor is it 50% or more owned or otherwise controlled by a party or parties, subject to “Trade Restrictions” defined as follows: (i) located, ordinarily resident, or legally organized in any embargoed country (presently including Cuba, Iran, North Korea, Syria, and the Crimea, Donetsk and Luhansk regions of Ukraine); (ii) listed on or otherwise subject to any sanctions asset blocking list, export denial list, other prohibited transactions list or directive; or (iii) engaged in activities prohibited by export controls or sanctions laws or that would cause Appraisal Bureau to violate such controls and laws in its performance of these Terms. If you become subject to Trade Restrictions, or if you become aware of any factors that would cause the performance of these Terms by a U.S. person to be in violation of OFAC sanctions, then you will notify Appraisal Bureau immediately. Appraisal Bureau’s Services will not be used to circumvent or facilitate any export control or sanctions violations, or to facilitate any transaction with any party subject to Trade Restrictions.
(g) You further understand that the markets for these digital assets are highly volatile due to factors including (but not limited to) adoption, speculation, technology, security, and regulation. You acknowledge that the cost and speed of transacting with cryptographic and blockchain-based systems such as Ethereum are variable and may increase at any time. You further acknowledge the risk that your digital assets may lose some or all of their value while the assets are being appraised. You further acknowledge that Appraisal Bureau is not responsible for any of these variables or risks and cannot be held liable for any resulting losses that you experience.
14. Warranty; Disclaimers.
(a) THE EXPRESS WARRANTIES IN THIS SECTION ARE IN LIEU OF, AND APPRAISAL BUREAU DISCLAIMS, ALL OTHER WARRANTIES, REPRESENTATIONS OR CONDITIONS, EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT.
(b) Appraisal Bureau will provide all appraisals in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP) and the appraisal report will be in accordance with the appropriate valuation approach as determined by Appraisal Bureau. As your sole and exclusive remedy and Appraisal Bureau’s entire liability for any breach of the foregoing warranty, Appraisal Bureau will, at its sole option and expense, promptly re-perform any Services that fail to meet this limited warranty or refund to you the fees paid for the non-conforming Services. EXCEPT AS EXPRESSLY SET FORTH IN THE FOREGOING SENTENCE, THE SERVICES ARE PROVIDED “AS IS,” WITHOUT WARRANTY OF ANY KIND. WITHOUT LIMITING THE FOREGOING, WE EXPLICITLY DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUIET ENJOYMENT AND NON-INFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE. We make no warranty that the Services will meet your requirements or be available on an uninterrupted, secure, or error-free basis. We make no warranty regarding the quality, accuracy, timeliness, truthfulness, completeness or reliability of any information or content on the Services.
(c) YOU ACKNOWLEDGE THAT APPRAISAL BUREAU OFFERS SERVICES TO APPRAISE FINE ART AND DIGITAL ASSETS, BUT APPRAISAL BUREAU IS NOT A BUYER, SELLER, CREATOR, CUSTODIAN OR INSURANCE BROKER WITH RESPECT TO SUCH FINE ART OR DIGITAL ASSET.
(d) APPRAISAL BUREAU WILL NOT BE LIABLE FOR ANY LOSS OF ANY KIND FROM ANY ACTION TAKEN OR TAKEN IN RELIANCE ON MATERIAL OR INFORMATION CONTAINED IN THE SERVICES. YOU BEAR FULL RESPONSIBILITY FOR VERIFYING THE IDENTITY, LEGITIMACY, AND AUTHENTICITY OF ANY FINE ART OR DIGITAL ASSETS.
(e) You acknowledge and agree that the Services do not guarantee your compliance with applicable laws or regulations, including “know your customer” requirements, anti-money laundering and counter-terrorism financing laws, and sanctions/asset control laws, and that compliance with such laws and regulations is ultimately your sole and exclusive responsibility.
(f) Without limiting the generality of the foregoing, you acknowledge that Appraisal Bureau does not and will not provide any legal advice, and that any feedback, content or materials provided by Appraisal Bureau as part of or in connection with the Services do not constitute legal advice, and that it is your sole responsibility for determining the legality, validity, and enforceability of your actions and omissions.
15. Indemnity. You will indemnify and hold Appraisal Bureau and its officers, directors, employees and agents, harmless from and against any claims, disputes, demands, liabilities, damages, losses, and costs and expenses of whatsoever kind and nature, including, without limitation, reasonable accounting fees, legal fees and litigation expenses at trial or on appeal, any third party subpoena or regulatory investigation costs, penalties, or fines, arising directly or indirectly from or relating to or in any way connected with (a) your access to or use of the Services, (b) your User Content, (c) your violation of these Terms or breach of your representations, (d) any claims arising from the Digital Assets or works provided to Appraisal Bureau, (e) any act of gross negligence, fraud, or intentional misconduct; or (f) any violation by You of any federal, state or local law, ordinance or regulation, or common law (each (a) through (f), a “Claim”).
16. Limitation of Liability.
(a) TO THE MAXIMUM EXTENT PERMITTED BY LAW, NEITHER APPRAISAL BUREAU NOR ITS SERVICE PROVIDERS INVOLVED IN CREATING, PRODUCING, OR DELIVERING THE SERVICES WILL BE LIABLE FOR ANY INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, LOST SAVINGS, LOST BUSINESS OPPORTUNITY, LOSS OF DATA OR GOODWILL, SERVICE INTERRUPTION, COMPUTER DAMAGE OR SYSTEM FAILURE OR THE COST OF SUBSTITUTE SERVICES OF ANY KIND ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES, WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT APPRAISAL BUREAU OR ITS SERVICE PROVIDERS HAVE BEEN INFORMED OF THE POSSIBILITY OF SUCH DAMAGE, EVEN IF A LIMITED REMEDY SET FORTH HEREIN IS FOUND TO HAVE FAILED OF ITS ESSENTIAL PURPOSE.
(b) TO THE MAXIMUM EXTENT PERMITTED BY THE LAW OF THE APPLICABLE JURISDICTION, IN NO EVENT WILL APPRAISAL BUREAU’S TOTAL LIABILITY ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES EXCEED THE AMOUNTS YOU HAVE PAID TO APPRAISAL BUREAU AND APPRAISAL BUREAU HAS RETAINED FOR USE OF THE SERVICES IN THE PAST THREE (3) MONTHS, IF YOU HAVE NOT HAD ANY PAYMENT OBLIGATIONS TO APPRAISAL BUREAU, AS APPLICABLE.
(c) THE EXCLUSIONS AND LIMITATIONS OF DAMAGES SET FORTH ABOVE ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN YOU AND YOU.
17. Non Solicitation. During the term of these Terms and for a period of twelve (12) months thereafter, you will not recruit or otherwise solicit for employment any Appraisal Bureau employees or subcontractors who participated in the performance of Services without Appraisal Bureau’s express prior written approval.
18. Governing Law and Forum Choice. These Terms and any action related thereto will be governed by the laws of the State of New York, without regard to its conflict of laws provisions. Any controversy or claim arising out of or relating to these Terms, or the breach thereof (excluding except any claims or controversies (i) for payment due to Appraisal Bureau or (ii) seeking injunctive relief), will be settled by arbitration in New York, New York, administered by the American Arbitration Association in accordance with its Commercial or other Arbitration Rules, and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Any legal action or proceeding arising under these Terms (i) for payment due to Appraisal Bureau or (ii) seeking injunctive relief will be brought exclusively in the federal or state courts located in the Southern District of New York and the parties irrevocably consent to the personal jurisdiction and venue therein.
19. General Terms.
(a) Reservation of Rights. Appraisal Bureau and its licensors exclusively own all right, title and interest in and to the Services, including all associated intellectual property rights. You acknowledge that the Services are protected by copyright, trademark, and other laws of the United States and foreign countries. You agree not to remove, alter or obscure any copyright, trademark, service mark or other proprietary rights notices incorporated in or accompanying the Services.
(b) No Election of Remedies. Except as expressly set forth in these Terms, the exercise by either party of any of its remedies under these Terms will not be deemed an election of remedies and will be without prejudice to its other remedies under these Terms or available at law or in equity or otherwise.
(c) Entire Agreement. These Terms constitute the entire and exclusive understanding and agreement between Appraisal Bureau and you regarding the Services, and these Terms supersede and replace all prior oral or written understandings or agreements between Appraisal Bureau and you regarding the Services (including any Appraisal Services Agreement). If any provision of these Terms is held invalid or unenforceable by an arbitrator or a court of competent jurisdiction, that provision will be enforced to the maximum extent permissible and the other provisions of these Terms will remain in full force and effect. You may not assign or transfer these Terms, by operation of law or otherwise, without Appraisal Bureau’s prior written consent. Any attempt by you to assign or transfer these Terms, without such consent, will be null. Appraisal Bureau may freely assign or transfer these Terms without restriction. Subject to the foregoing, these Terms will bind and inure to the benefit of the parties, their successors and permitted assigns
(d) Notices. Any notices or other communications provided by Appraisal Bureau under these Terms will be given: (i) via email; or (ii) by posting to the Services. For notices made by email, the date of receipt will be deemed the date on which such notice is transmitted.
(e) Waiver of Rights. Appraisal Bureau’s failure to enforce any right or provision of these Terms will not be considered a waiver of such right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of Appraisal Bureau. Except as expressly set forth in these Terms, the exercise by either party of any of its remedies under these Terms will be without prejudice to its other remedies under these Terms or otherwise.
(f) Force Majeure. Neither party will be responsible for any failure or delay in its performance under these Terms (except for the payment of money) due to causes beyond its reasonable control, including, but not limited to, labor disputes, strikes, lockouts, shortages of or inability to obtain labor, energy, raw materials or supplies, war, acts of terror, riot, acts of God or governmental action.
(g) Counterparts. These Terms may be executed in counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.
20. Contact Information. If you have any questions about these Terms or the Services, please contact Appraisal Bureau at email@example.com, +1-917-330-2760 or by post to 244 Madison Avenue #1562, New York, NY 10016.
ABtkn Purchase and License Agreement
These ABtkn Purchase and License Terms (the “License Terms”) are a legally binding agreement by and between Appraisal Bureau, LLC (“Appraisal Bureau”), a Delaware limited liability company, and any creator or holder (“you” or “Token Holder”) of any ABtkn non-fungible token (defined below). These License Terms are offered under and subject to the Business User Terms of Service executed by and between you and Appraisal Bureau (“Terms of Service”). If there is any conflict or inconsistency between these License Terms and the Terms of Service with respect to any appraisal, the Terms of Service will control.
1. Definitions. “ABtkn” refers to a non-fungible token (NFT) (i.e., a controllable electronic record on a blockchain) that is minted by a smart contract deployed to the Ethereum blockchain at address [•] (the “ABtkn Smart Contract”), and that, as of its genesis issuance, is associated with, and linked to, an appraisal report issued by Appraisal Bureau or its affiliate (an “AB Appraisal”) with respect to a specific asset associated through the ABtkn’s metadata (“Linked Asset”) and published on a third-party hosting site of Appraisal Bureau’s determination (“Appraisal Hosting Site”). The metadata, any Appraisal Bureau image linked by the metadata, and the applicable AB Appraisal are herein referred to collectively as the “Content” of any particular ABtkn.
2. Additional Terms. ABtkns may be available for purchase or transfer (i) on one or more third-party platforms or marketplaces that may be established from time to time (each, an “NFT Marketplace”), which we do not operate, or (ii) directly from third-party holders of ABtkns (such transactions, “Direct Sales”). The access and use of any NFT Marketplace is subject to the separate terms of that NFT Marketplace and any Direct Sales are subject to the terms thereof. You covenant not to sue Appraisal Bureau based on activities that may occur on such NFT Marketplaces, or in any Direct Sales (except Direct Sales for which Appraisal Bureau is the seller or purchaser).
3. Creation and Ownership of ABtkns.
(a) Creating ABtkns. Appraisal Bureau offers a platform for you to mint ABtkns with reference to Linked Asset of your designation. If you are creating and deploying your own ABtkn, you agree to the following additional terms:
i. Compatible Wallet. The process for minting an ABtkn requires you to interact with the ABtkn Smart Contract. To do so, you will need a cryptocurrency wallet compatible with the Ethereum blockchain (“Wallet”).
ii. Fees. In addition to the fees applicable under the Terms of Service, you agree to pay all applicable fees, including the Gas Fees (as defined below), for the creation of each ABtkn. “Gas Fees” mean the fees that fund the transaction on the Ethereum blockchain. Your ability to mint any ABtkn is expressly conditioned on your payment of the foregoing fees, and Appraisal Bureau will have no liability for any unsuccessful minting operation due to insufficient fees.
iii. Entitlement. When you choose to pay for an appraisal by selecting “Buy,” Appraisal Bureau will generate an AB Appraisal for the Linked Asset pursuant to the Terms of Service and upload a copy to the Appraisal Hosting Site. Such AB Appraisal will be publicly viewable to anyone with access to the Appraisal Hosting Site. You may request that the AB Appraisal is encrypted, in which case Appraisal Bureau will provide you with a private key enabling you to decrypt the AB Appraisal. Safeguarding the applicable decryption key or password to the AB Appraisal is solely your responsibility. Appraisal Bureau will not be responsible for the security of your private key or for the confidentiality of the AB Appraisal once you are in receipt of the private key. You may then mint the ABtkn that corresponds to the generated AB Appraisal and the Linked Asset.
(b) Ownership of your ABtkns. When you own an ABtkn, as recorded by the Ethereum blockchain, you own all personal property rights to that ABtkn (i.e., the right to freely sell, transfer, or otherwise dispose of that ABtkn). However, you do not own the intellectual property rights in the Content; those rights are owned by Appraisal Bureau and are licensed to you pursuant to Section 4. The ABtkn also does not represent any ownership in the Linked Asset. We have no control or ability to seize, freeze, or otherwise modify the ownership of any ABtkn we do not own ourselves.
(c) Permitted Transfer. Token Holder may freely sell or otherwise transfer its ABtkn so long as the Transferee (as defined in Section 6) is not (i) located in a country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a terrorist-supporting country; or (ii) listed on any U.S. Government list of prohibited or restricted parties (a “Prohibited Transferee”). Token Holder represents and warrants that it is not, and will not transfer an ABtkn to, a Prohibited Transferee.
(d) No Decoupling. Ownership of an ABtkn and the license granted herein to the Content of such ABtkn are not separable in any way. In no event may you engage in any transaction or activity that purports to, or that does, decouple the license to the Content and the ABtkn.
4. License to the Content.
(a) Non-Commercial License. Subject to your acceptance of, and compliance with, these License Terms, upon lawfully acquiring an ABtkn and for so long as you hold your ABtkn (both dates as recorded by the Ethereum blockchain), Appraisal Bureau hereby grants to you a non-exclusive, universe-wide, royalty-free, revocable license, with no right to sublicense, to use, copy, and display the Content linked to your ABtkn solely for your own personal, non-commercial use (e.g., home display, display in a virtual gallery, in “metaverses” or other interactive digital environments, or as a social media avatar), including to create a reasonable number of back-up copies and a physical print out, each to be retained only for so long as you own the associated ABtkn. Notwithstanding the foregoing, your use of the AB Appraisal is additionally subject to the Terms of Service and any terms accompanying the AB Appraisal.
(b) Restrictions. You may not use the ABtkn or the Content (i) to create, or as the basis of, any token or digital items accounted for or recorded on a distributed ledger, (ii) in a manner that expresses hate or prejudice or encourage violence towards a person or group based on membership in a protected class, such as race, religion, gender, orientation or disability, (iii) in a manner that violates applicable law, or (iv) to make defamatory or dishonest statements about Appraisal Bureau or the ABtkns or otherwise damage the goodwill, value or reputation of Appraisal Bureau or the ABtkns.
(c) Transfer. The licenses in Section 4 are non-transferable, except that they will automatically transfer in connection with a transfer of the ABtkn (as recorded by the Ethereum blockchain). Upon the transfer of your ABtkn to a new Token Holder, as recorded by the Ethereum blockchain, (i) the licenses in Section 4 granted to you will immediately and automatically terminate, and (ii) you must stop all commercial uses of the rights granted to you in Section 4, provided that you may reasonably wind down your activities as a result of such uses in a reasonable period of time (e.g., selling off then-existing inventory of physical merchandise). If you enter into any agreements under which you license such rights to a third party, you must ensure that such agreements terminate upon transfer of the ABtkn.
(d) Termination. Token Holder’s licenses under Section 4 will automatically terminate, and all rights will revert to Appraisal Bureau if at any time: (i) Token Holder breaches any portion of these License Terms, or (ii) Token Holder engages in any unlawful activity related to the ABtkn (including transferring the ABtkn to a Prohibited Transferee). Upon any termination of Token Holder’s licenses to the Content, Appraisal Bureau may modify the Content or disable Token Holder’s access to the Content and Token Holder will delete, remove, or otherwise destroy any back up or single digital or physical copy of the Content.
(e) Disputes Among Holders. Appraisal Bureau has no obligation to support the resolution of or to resolve any dispute that may arise between or among Token Holders.
Reservation of Rights.
(a) General. All rights in and to the Content not expressly granted to you in these License Terms are hereby reserved by Appraisal Bureau. The Content is licensed, not sold. Appraisal Bureau owns and will retain all title, interest, ownership rights and intellectual property rights in and to the Content.
(b) Name and Trademarks. No rights are granted to you to any Appraisal Bureau’s trade names or trademarks (e.g., “Appraisal Bureau,” “ABtkn” or any related logos) hereunder, and no trademark or other rights based on designation of source or origin are granted to you. No trademark or other rights based on designation of source or origin are licensed to you. You may not use, attempt to register, or enforce any rights in any asset, including any domain names, social media accounts or related addresses, that contains or incorporates any artwork, other representation, name or mark that may be confusingly similar to such trademarks. For clarity, however, you may use your ABtkn identification number (e.g., “#182”) to identify your particular ABtkn or Content linked thereto.
(c) Clarifications. Appraisal Bureau reserves the right, but has no obligation, to clarify the terms of these License Terms in relation to novel or unforeseen circumstances in its sole and exclusive discretion. If Appraisal Bureau issues or provides any clarification about these License Terms, such clarification will be binding on the Token Holder, and the Token Holder hereby waives any right that the Token Holder may have to dispute it in any manner.
6. Transfers. You hereby agree that all subsequent transactions involving your ABtkn are subject to the following terms: (a) the ABtkn transferee (the “Transferee”) will, by purchasing, accepting, accessing or otherwise using the ABtkn or Content, be deemed to accept all of the terms of these License Terms as a “Token Holder” hereof; (b) the ABtkn transferor will provide notice to the Transferee of these License Terms, including a link or other method by which these License Terms can be accessed by the Transferee; and (c) each such subsequent transaction will be effected on the Ethereum blockchain.
7. Appraisal Bureau’s Rights and Obligations to the ABtkns and Content. Token Holder acknowledges and agrees that Appraisal Bureau is not responsible for repairing, supporting, replacing, or maintaining the server hosting the Content or other applications or entitlements which the ABtkn is compatible with, nor does Appraisal Bureau have the obligation to maintain any connection or link between an ABtkn and the corresponding Content.
8. Token Holder’s Representations and Warranties. Token Holder represents and warrants that Token Holder (a) is the age of majority in Token Holder’s place of residence (which is typically 18 years of age) and has the legal capacity to enter into these License Terms; (b) will only use and interact with the ABtkn and Content in accordance with these License Terms; and (c) will comply with all law in the exercise of its rights and obligations under these License Terms and will not violate any right of Appraisal Bureau, its licensors, or any third party.
9. Warranty Disclaimers.
(a) EACH ABTKN IS PROVIDED “AS IS,” WITHOUT WARRANTY OF ANY KIND. WITHOUT LIMITING THE FOREGOING, ABTKN EXPLICITLY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUIET ENJOYMENT AND NON-INFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE. APPRAISAL BUREAU MAKES NO WARRANTY THAT ANY ABTKN OR CONTENT WILL MEET TOKEN HOLDER’S REQUIREMENTS, BE CONTINUALLY DISPLAYED, OR BE AVAILABLE ON AN UNINTERRUPTED, SECURE, OR ERROR-FREE BASIS.
(b) APPRAISAL BUREAU WILL NOT BE RESPONSIBLE OR LIABLE TO TOKEN HOLDER FOR ANY LOSS IN CONNECTION WITH ANY ABTKN AND TAKES NO RESPONSIBILITY FOR, AND WILL NOT BE LIABLE TO HOLDER FOR, ANY USE OF OR INABILITY TO USE ANY ABTKN, INCLUDING BUT NOT LIMITED TO ANY LOSSES, DAMAGES OR CLAIMS ARISING FROM: (I) USER ERROR SUCH AS FORGOTTEN PASSWORDS, INCORRECTLY CONSTRUCTED TRANSACTIONS, OR MISTYPED WALLET ADDRESSES; (II) THE BEHAVIOR OR OUTPUT OF ANY SOFTWARE, NODE SERVER ERROR OR FAILURE, OR DATA LOSS OR CORRUPTION; (III) ANY FEATURES, DEVELOPMENT, ERRORS, OR OTHER ISSUES WITH BLOCKCHAIN NETWORKS OR WALLETS; (IV) UNAUTHORIZED ACCESS TO ANY ABTKN; OR (V) ANY THIRD PARTY ACTIVITIES, INCLUDING WITHOUT LIMITATION, THE USE OF VIRUSES, PHISHING, BRUTEFORCING OR OTHER MEANS OF ATTACK.
(c) EACH ABTKN IS AN INTANGIBLE DIGITAL ASSET THAT EXISTS ONLY BY VIRTUE OF THE OWNERSHIP RECORD MAINTAINED ON THE ETHEREUM BLOCKCHAIN. ANY TRANSFER OF TITLE THAT MIGHT OCCUR IN ANY UNIQUE DIGITAL ASSET OCCURS ON THE ETHEREUM BLOCKCHAIN, WHICH ABTKN DOES NOT CONTROL.
(d) SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES IN CONTRACTS WITH CONSUMERS, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU.
10. Assumption of Risk. Token Holder accepts and acknowledges all risks associated with the following:
(a) Token Holder is solely responsible for assessing prior uses of the ABtkn and determining whether they affect the value or viability of any future use of the Content.
(b) Token Holder is solely responsible for determining what, if any, taxes apply to Token Holder’s purchase, sale, or transfer of rights in the ABtkns. Appraisal Bureau is not responsible for determining or paying the taxes that apply to such transactions.
(c) Transactions involving ABtkns may rely on third-party or decentralized platforms or systems, including the Appraisal Hosting Site. We do not maintain, control, or assume any obligations with respect to such platforms or systems.
11. Third-Party Websites or Resources. Under no circumstances will Token Holder’s inability to view or use the Content on the Appraisal Hosting Site or any a third-party website or application serve as grounds for a claim against Appraisal Bureau.
12. Indemnity. Token Holder will defend, indemnify, and hold Appraisal Bureau, its licensors, affiliates, representatives, and service providers, and each of them, and all of their respective officers, directors, employees and agents (the “Appraisal Bureau Parties”) harmless from and against any and all claims, damages, losses, costs, investigations, liabilities, judgments, fines, penalties, settlements, interest, expenses and other similar results or occurrences (including attorneys’ fees) that directly or indirectly arise from or are related to any claim, suit, action, demand, or proceeding or other similar occurrence, process or activity, that is initiated, made, brought or financed by a third party (including any person who accesses or transacts using any ABtkn whether or not such person personally purchased an ABtkn) against the Appraisal Bureau Parties, or on account of the investigation, defense, or settlement thereof, arising out of or in connection with (a) your access to or use of any NFT Marketplace or any third-party services or products, (b) your breach or alleged breach of these License Terms, (c) your exercise of the licenses in Section 4, or (d) your actual or alleged violation of applicable law. The foregoing provisions apply in addition to, cumulatively, and without limiting the effect of any applicable indemnity provision in the Terms of Service.
13. Limitation of Liability.
(a) TO THE MAXIMUM EXTENT PERMITTED BY LAW, NEITHER PARTY WILL BE LIABLE FOR ANY INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, LOST SAVINGS, LOST BUSINESS OPPORTUNITY, LOSS OF DATA OR GOODWILL, SERVICE INTERRUPTION, COMPUTER DAMAGE OR SYSTEM FAILURE, OR THE COST OF SUBSTITUTE SERVICES OF ANY KIND ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR FROM THE USE OF OR INABILITY TO USE OR INTERACT WITH ANY ABTKN OR ACCESS THE ASSOCIATED CONTENT, WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT SUCH PARTY HAS BEEN INFORMED OF THE POSSIBILITY OF SUCH DAMAGE, EVEN IF A LIMITED REMEDY SET FORTH HEREIN IS FOUND TO HAVE FAILED OF ITS ESSENTIAL PURPOSE.
(b) TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT WILL THE AGGREGATE LIABILITY OF ALL APPRAISAL BUREAU PARTIES ARISING OUT OF OR IN CONNECTION WITH THESE TERMS, OR THE USE OF OR INABILITY TO USE OR INTERACT WITH THE ABTKN OR ACCESS THE ASSOCIATED CONTENT, OR ANY OF THE RIGHTS AND LICENSES GRANTED HEREIN, EXCEED ONE HUNDRED U.S. DOLLARS ($100).
(c) BY PURCHASING OR OWNING AN ABTKN, TOKEN HOLDER ACKNOWLEDGES THAT THE EXCLUSIONS AND LIMITATIONS OF DAMAGES SET FORTH ABOVE ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN APPRAISAL BUREAU AND TOKEN HOLDER.
(d) THESE PROVISIONS APPLY IN ADDITION TO AND WITHOUT LIMITING THE EFFECT OF ANY APPLICABLE LIABILITY LIMITATIONS IN THE TERMS OF SERVICE.
14. Governing Law and Forum Choice. These License Terms and any action related thereto will be governed by the laws of the State of Delaware, without regard to its conflict of laws provisions. The exclusive jurisdiction for any dispute, claim or controversy arising out of or relating to these License Terms or the breach, termination, enforcement, interpretation or validity thereof or the use of the ABtkn will be the state and federal courts located in Wilmington, Delaware and you and Appraisal Bureau each waive any objection to jurisdiction and venue in such courts.
15. General Terms. These License Terms and any applicable Terms of Service constitute the entire and exclusive understanding and agreement between Appraisal Bureau and you regarding your creation or use of ABtkn, and these License Terms supersede and replace all prior oral or written understandings or agreements between Appraisal Bureau and you regarding any ABtkn. If any provision of these License Terms is held invalid or unenforceable by an arbitrator or a court of competent jurisdiction, that provision will be enforced to the maximum extent permissible and the other provisions of these License Terms will remain in full force and effect. You may not assign or transfer these License Terms, by operation of law or otherwise, without Appraisal Bureau’s prior written consent. Any attempt by you to assign or transfer these License Terms, without such consent, will be null. Appraisal Bureau may freely assign or transfer these License Terms without restriction. Subject to the foregoing, these License Terms will bind and inure to the benefit of the parties, their successors and permitted assigns.