Terms of Service

Updated May 2021

Welcome to Equanimitys KYC Software as a Service! We’re honored to help you with your digital invest onboarding needs.

 These Terms of Service (“Terms”) form a contract between

(1) Equanimity AG, Wuhrstrasse 14, 9490, Vaduz, Liechtenstein (“Equanimity”), and

(2) the company or other legal entity accepting these Terms (“Customer”)

that governs the Customer’s access to and use of the hosted KYC compliance solution (“Service”) provided by Equanimity for easy investor onboarding, token purchase, investor approval backend including video ident and several export mechanisms for data backup and storage (“Content”). These Terms also govern Equanimity and the Customer’s obligations with respect to the security and processing of personal data when using the Service. Terms relating to the processing of Personal Data are incorporated into these Terms and attached as “Annex 1: Data Protection Terms.” These Terms apply equally to any software and external API that is used to provide the Service or made available to the Customer in order to facilitate the Service (“Software”).  

Modifications or additions to these Terms may be stated in your Order Form for the Service, which shall be signed by an authorized officer of Equanimity and of the Customer, to be valid.

In the event of a conflict between these Terms and a valid Order Form, the Order Form shall take precedence. 

1. ACCESS TO THE SERVICE

The Customer may use the Service only for business purposes and only within the range of the Customer’s normal business activities, on a non-exclusive basis, solely in strict compliance with these Terms, the documentation that accompanies the Service (the “Documentation”), and all applicable laws, including without limitation, data privacy laws and regulations applicable to the Customer.

2. USER ACCOUNTS

With the exception of content shared publicly as facilitated by features built into the Service, all access to the Service must happen through personal user accounts. When registering a personal user account, the Customer shall provide correct, accurate, current, and complete information about each user through the Service’s registration form and maintain and promptly update the registered data to keep it true, accurate, and complete.

Admin user accounts are personal and must not be shared between individuals. Account information and passwords shall be kept confidential. The Customer, or any person given access to the Service by the Customer, shall not authorize any third-party to access or use the Service, unless and to the extent Equanimity has provided mechanisms within the Service that clearly allows such use. Equanimity will not be liable for any loss or damage arising from any unauthorized use of admin user accounts. 

The Customer is fully responsible for any use of the Service that is conducted through admin user accounts created by the Customer or anyone working for the Customer, regardless of whether or not the Customer is aware of, or have consented to, such use.

The Customer is responsible for informing anyone who uses the Service for or on behalf of the Customer of the above obligations.

The Customer is obligated to notify Equanimity immediately of any known or suspected unauthorized use of the Service. 

3. PRIMARY CONTACT PERSON

One person, as identified on the Order Form for the Service, will be the primary contact person for all communication in relation to the Service. The Customer is responsible for updating Equanimity of reassignment of this role, and/or any changes in email, phone, or address information. Equanimity is not liable for any results of communication not reaching its intended recipient as a result of this information being out-of-date.

4. CUSTOMER CONTENT AND DATA

Equanimity does not claim ownership of any Content or data that is transmitted, stored, created, or processed through any personal user accounts or otherwise by the Customer. Equanimity does not control, verify, or endorse the Content or data in any way.

 

The Customer hereby grants Equanimity and our contractors the right to transmit, process, use, and disclose Content or data posted on the Service to the extent necessary to provide the Service, or to comply with any request of a governmental or regulatory body as required by law. To the extent that the Customer’s Content or data includes personally identifiable information, Equanimity’s processing of such data is subject to Annex 1 (Data Protection Terms) and the Privacy Policy.

The Customer represents and warrants that it has all the rights to the Content necessary for the Customer to use the Service and grant the rights in this provision, and that the transmission, storage, or use of the content doesn’t violate any law or these Terms.

5. RETRIEVAL OF CONTENT AND DATA 

If the Customer cancels the Service, the Customer may request a one-time transfer of all Content and data, including metadata generated in the system, to a server of the Customer’s choice. The Customer must have a valid subscription to the Service for the full duration of the transfer. Additional one-time fee of 5000 CHF applies.

6. STORAGE OF CONTENT AND DATA

Equanimity will clearly indicate where the Customer’s Content and data will be stored when the Customer orders the Service. Equanimity stores the Customer’s Content and data in accordance with best industry practices and applicable information security laws and regulations, and keeps at least 3 copies of the Customer’s Content and data to protect from data loss. If the Service is cancelled, Equanimity may store the Customer’s Content and data for up to 10 years before it is permanently deleted from all Equanimity’s systems.

7. TECHNICAL SUPPORT

The Service includes access to Technical Support via web based ticket system at [email protected] or other preferred channels like Skype, Whatsapp, Telegram, Zoom. Technical Support is available to the primary contact person as defined in Section 3. Technical Support shall use reasonable efforts to respond to all support tickets as soon as possible.

The Customer is responsible for channeling support requests as described in this provision and in accordance with Section 3, and for escalating any support incidents to Equanimity through the primary contact person, cf. Section 3. Equanimity shall not be responsible for handling any support requests submitted to Equanimity by other persons than the primary contact person.

8. SERVICE AVAILABILITY

Equanimity makes no guarantees as to the availability or uptime of the Service (unless you are eligible for the SLA as described below), but will at all times use reasonable efforts to maintain the performance, stability, and uptime of the Service.

The Customer’s use of the Service may be governed by Equanimity’s Service Level Agreement for Equanimity SaaS (“SLA”), which is available on www.equanimity.li/service-level-agreement. Whether the Customer’s plan is covered by the SLA is specified on the Order Form for the Service or as part of the plan details can be requested from a Equanimity contact person.

If the Customer’s plan is covered by the SLA, the Customer’s remedies for any failure of the Service are listed, exhaustively, in the SLA. If the SLA does not list a remedy for a given failure, it has no remedy. Service credits gained pursuant to the SLA are forfeited upon termination of this agreement.

9. FAIR USE POLICY

Equanimity does not charge separately for network traffic costs incurred as a result of using the Service, and assigns each account a monthly network quota equal to the provisioned storage for the account. We reserve the right to suspend the Service should network traffic exceed fair use for a significant period of time. Before suspending the Customer’s account(s), we will reach out to notify the Customer of the excessive use, and offer an upgrade of the Customer’s data plan to increase the network quota.

10. ACCEPTABLE USE POLICY (‘AUP’)

This provision (“AUP”) sets out the rules governing the Customer’s use of the Service. In the event that Equanimity suspects that the Customer is in breach of this AUP, Equanimity may suspend the Customer’s access to the Service without notice. Suspension caused by the Customer’s non-compliance with this AUP or other provisions set out in these Terms, does not affect the Customer’s obligation to pay for the Service in accordance with any applicable Order Forms. The Customer is not entitled to SLA credits for any period of suspension.

The Customer shall not use the Service to harm others or the Service. For example, the Customer shall not use the Service to harm, threaten, or harass another person, organization, or Equanimity. You may not use the Service to attempt to build a similar service or website or to build a product using similar features or functions.

In addition, the Customer shall not, and shall not assist or encourage any third party to:

  • Use the Service in any manner or for any purpose other than as expressly permitted by these Terms, the Privacy Policy, and the Documentation
  • Access or use the Service in any way intended to improperly avoid incurring fees or exceeding user limits or quotas
  • Share passwords or other access information or devices, or otherwise authorize any third party to access or use the Software or the Service
  • Use the Service to engage in any unlawful or fraudulent activity
  • Use the Service in connection with or operation of facilities, systems, devices, or in other situations in which the failure of the Service could lead to death, personal injury, or physical property and/or environmental damage
  • Sell, lend, rent, resell, lease, sublicense, or otherwise transfer any of the rights granted to the Customer with respect to the Service to any third party
  • Modify, alter, tamper with, repair or otherwise create derivative works of the Service or any Software that accompanies the Service
  • Use any unauthorized means to modify, reroute, or gain access to the Service or attempt to carry out these activities
  • Use any automated process or service (such as a bot, a spider, or periodic caching of information stored by Equanimity) to access or use the Service
  • Damage, disable, or impair the Service (or any network connected to the Service)
  • Reverse engineer, disassemble, or decompile the Software used to access the Service
  • Access or attempt to access Equanimity’s other accounts, computer systems, or networks not covered by the Terms
  • Cause inordinate burden on the Service or Equanimity’s system resources or capacity
  • Remove, obscure, or alter any proprietary rights notices pertaining to the Service

Equanimity reserves the right, in its sole discretion, to determine whether and what action to take in response to each such notification, and any action or inaction in a particular instance will not dictate or limit Equanimity’s response to a future complaint.

11. FEES AND PAYMENTS

The Fees for the Service are available in Equanimity’s price list. The price stated for the Service excludes all taxes and charges. The Customer is responsible for any taxes and all other charges incidental to using the Service (for example, video ident, wallet checks, other data charges which might occur with external APIs and currency exchange settlements). The Customer shall pay the Fees in the currency specified on the relevant Order Form. Late payment interest shall accrue to any late payments, in accordance with the Liechtenstein Late Payment Interest Act. Equanimity may choose to suspend the Customer’s access to the Service until payment has been made.

If the Customer has chosen to pay with credit card, Equanimity will store and charge the card according to the specified billing schedule.

Card information is stored securely with our payment provider Stripe.com and Equanimity will never have access to the actual card data.

12. TRIAL PERIODS

The Customer may test the Service for free for a period of 14 days. This trial offer is available once to each company, as identified by the official company registration number in your country of incorporation. The Customer may cancel the Service up until the last day of the trial period without incurring any cost. By continuing to use the Service beyond the trial period, the Customer shall be deemed to have accepted these Terms and Fees as quoted to the Customer before starting the trial period. Equanimity shall issue the first invoice to the Customer on the first day after expiration of the 14 days’ trial period, or as soon as possible thereafter.

13. SUBSCRIPTION PERIOD

The Customer may elect one of the following subscriptions plans and billing options:

  • A monthly subscription plan (“Monthly Plan”). The subscription period shall be one month, and shall automatically renew unless the Customer cancels in accordance with these Terms prior to the renewal date.
  • An annual subscription plan (“Annual Plan”), to be paid in advance. The subscription period will be one year, and will automatically renew each year unless the Customer cancels its plan prior to the renewal date. The Customer is not entitled to cancel, reduce the number of accounts, or downgrade the Service until the anniversary of an Annual Subscription. There will be no refunds for Annual Plan payments.

A Customer subscribing to a Monthly Plan may switch to the Annual Plan at any time. A customer subscribing to an Annual Plan may not change to the Monthly Plan until the end of the one-year term of the Annual Plan.

The Service may not be cancelled within a subscription period as described above. However, the Customer may opt out of automatic renewal by cancelling the chosen subscription prior to the relevant renewal date. 

14. PRICE CHANGES

Equanimity shall have the right to change the prices for the Service by at least 30 days’ notice to the Customer. When the Customer’s subscription renews, the Customer shall be bound by the last published price list on the last day of the expiring term, unless a fixed service period and/or price has been specifically agreed in a valid Order Form or otherwise.

15. UPDATES TO THE SERVICE

Equanimity reserves the right, at its sole discretion, to make necessary unscheduled deployments of changes, updates, or enhancement to the Service at any time.

Equanimity may add or remove functionality or features and suspend or stop a Service.

Equanimity strives to apply updates and changes according to the service windows defined in this document: TBD

If Equanimity at any time plans to undertake a larger system update that causes downtime of more than 1 hour, we will notify affected customers in advance.

16. SOFTWARE

If you receive Software from Equanimity, its use is governed by the End User License Agreement presented at the time of installation or as available through the Software’s Help feature.

Any Software is licensed, not sold. The Customer is granted a non-exclusive, non-sublicensable and revocable license to reproduce and use the Software in such quantities and at such locations as strictly necessary to support the Customer’s use of the Service in accordance with these Terms and any applicable Order Form. The Customer is not entitled to use the Software in any manner or for any purpose not directly related to the Customer’s use of or access to the Service. Unless Equanimity notifies you otherwise, the Software license ends when the Customer’s Service ends. 

The Customer shall not

  • attempt to bypass any technical limitations in the Software;
  • modify, create derivative works from or redistribute the Software in any way;
  • reverse engineer (except if and to the extent permitted by law), decompile, disassemble, or otherwise attempt to derive the source code related to the Software.

17. INTELLECTUAL PROPERTY RIGHTS

All intellectual property rights in and to the Service, Software and Documentation, including without limitation to user interfaces, logos, trademarks, product or service names, belong solely to Equanimity or Equanimity’s licensors, as the case may be. This contract and the provision of the Service to you does not grant you any rights in or to the Service, Software or Documentation, except to the extent that these Terms explicitly set forth.

18. CONFIDENTIALITY

Information that the Customer gains access to in connection with the Service shall be treated as confidential information and shall not be disclosed to any third party without the consent of Equanimity.

The confidentiality obligations set out in this provision shall not prevent the disclosure of information if the Customer is obligated by law to disclose information. Equanimity shall, if possible, be notified prior to such disclosure.

Information shall not be considered confidential to the extent that the information was already known to the Customer or is accessible to the public.

The Customer undertakes to take all necessary precautions to prevent unauthorised persons from gaining access to, or knowledge of, confidential information. The confidentiality obligation shall apply to the Customer’s employees, subcontractors and other third parties who act on behalf of the Customer.

The confidentiality obligation shall continue to apply after the expiry or termination of a customer relationship.

19. DISCLAIMER OF WARRANTY

Equanimity provides the service “as-is” and “as available”. Equanimity makes no representations or warranties of any kind, and all express or implied conditions, representations, and warranties including, without limitation, any implied warranty or condition of merchantability, fitness for a particular purpose, non-infringement, satisfactory quality, non-interference, accuracy of informational content, or arising from a course of dealing, law, usage or trade practice are hereby excluded to the extent allowed by applicable law and are expressly disclaimed by Equanimity, its suppliers and licensors.

20. INDEMNIFICATION

The Customer shall defend and indemnify Equanimity against any cost, loss, damage, or other liability arising from any third party demand or claim that any Content, or the Customer’s use of the Service in breach of these Terms: (a) infringes a registered patent, registered trademark, or copyright of a third party, or misappropriates a trade secret (to the extent that such misappropriation is not the result of Equanimity’s actions); or (b) violates applicable law.

Equanimity shall defend and indemnify the Customer from any claim that the Service as such infringes the intellectual property rights of a third party. If such claim is set forth, Equanimity shall have the option, in Equanimity’s discretion, to either settle the claim immediately, procure for the Customer the continued and uninterrupted use of the Service, or replace the allegedly infringing part of the Service with a non-infringing part of equal functionality.

The Customer is obligated to notify Equanimity if the Customer receives a claim or demand that is subject to Equanimity’s indemnification obligation, and Equanimity shall have the same obligation towards the Customer.

21. TERMINATION

Equanimity may terminate the contract with immediate effect, if the Customer is in material breach of these Terms or any other terms and conditions applicable to the use of the Service. If the contract is terminated for breach, you are not entitled to any reimbursements.

Equanimity may terminate the contract for convenience by 30 days’ written notice to the Customer. If Equanimity terminates the contract for convenience, the Customer is entitled to a refund that is proportional to the remaining Service period already paid for.

22. LIMITATION OF LIABILITY 

Notwithstanding anything else in these terms of service to the contrary, the aggregated maximum liability in relation to the services of Equanimity, its affiliates, officers, employees, agents, suppliers and licensors collectively, to customer or any other person or entity using the Service, whether in contract, tort (including negligence), breach of warranty or otherwise, shall be limited to an amount equal to three months of service fees.

Regardless of whether any remedy set forth herein fails of its essential purpose or otherwise, in no event will Equanimity or its suppliers be liable for any lost revenue, profit, or lost or damaged data, business interruption, loss of capital, or for special, indirect, consequential, incidental or punitive damages however caused and regardless of the theory of liability or whether arising out of the use of or inability to use software or otherwise and even if Equanimity or its suppliers or licensors have been advised of the possibility of such damages.

23. ASSIGNMENT AND TRANSFER

Neither party may transfer or assign its rights and obligations under this contract without the other party’s prior written consent, which shall not be unreasonably withheld. The same shall apply if a party is demerged into several companies or in case of assignment to a subsidiary or another company within the same group, but not if a party is merged with another company.

24. GOVERNING LAWS; DISPUTES

These Terms shall be governed by and interpreted in accordance with Liechtenstein law.

In case of a dispute between the parties which cannot be solved by negotiations, either party shall be entitled to have such dispute finally decided by the Liechtenstein courts, with Vaduz District Court as venue. Nevertheless, Equanimity has the right to instigate legal proceedings in the country where you have your place of residence or perform business activities.

 

25. CHANGES TO THESE TERMS

Equanimity will revise these Terms from time to time, and these Terms shall at all times apply as they are available on www.equanimity.li/terms-of-service

26. QUESTIONS

Should you have any questions concerning these Terms, please get in touch with us: [email protected]

 

ANNEX 1: DATA PROTECTION TERMS

1. Scope

 

The terms in this Annex (“Data Protection Terms”) govern the processing of Personal Data when the Customer utilises Equanimity’s Software and Services. 

2. Definitions

 

If any of the terms below are not defined in the Terms above or an individual Order Form, they have the definitions below.

“General Data Protection Regulation” or “GDPR” means Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC.

“Personal Data” means any information relating to an identified or identifiable natural person. An identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person.

“Privacy Laws” means European Data Protection Laws, including the GDPR and any national Data protection laws implementing the European Data Protection Laws which applies to the Customer.

“Standard Contractual Clauses” means the standard data protection clauses for the transfer of personal data to processors established in third countries which do not ensure an adequate level of data protection, as described in Article 46 of the GDPR.

“Subprocessor” means other processors used by Equanimity to process data.

The terms “data subject”, “processing”, “processor”, and “supervisory authority” as used herein have the meanings given in the GDPR and the terms “data importer” and “data exporter” have the meanings given in the Standard Contractual Clauses.

3. Processing of Personal Data

In order to operate and provide the Service, Equanimity processes certain Personal Data on behalf of the Customer. As part of the Service, Equanimity may also automatically upload information about computers or devices on which the Service is used, your use of the Service, and Service performance. Equanimity uses of such information is subject to these Data Protection Terms and Equanimity’s Privacy Policy, available at www.equanimity.li/privacy-policy

 

4. Processor and controller responsibilities

The Customer and Equanimity agree that the Customer is the controller of Personal Data and Equanimity is the processor of such data, except when (a) the Customer acts as a processor of personal data, in which case Equanimity is a subprocessor or (b) stated otherwise in the Order Form. Equanimity will process Personal Data only on documented instructions from the Customer. If the Customer is a processor, the Customer warrants to Equanimity that the Customer’s instructions, including appointment of Equanimity as a processor or subprocessor, have been authorised by the relevant controller.

Equanimity may process Personal Data otherwise than on the Customer’s instructions if Equanimity is required to do so by law to which Equanimity is subject. In such a case, Equanimity shall inform the Customer of that legal requirement before processing, unless that law prohibits such information on important grounds of public interest.

As a controller, the Customer is solely responsible for making an independent determination as to whether the technical and organizational measures for a Service meets the Customer’s requirements, including any of its security obligations under the GDPR or other applicable Privacy Laws and regulations.

The Customer represents and warrants that it has a legal basis to process the relevant personal data. Furthermore, the Customer represents and warrants that the Content is not unlawful and do not infringe any rights of a third party. In this context, the Customer indemnifies Equanimity of all claims and actions of third parties related to the processing of Personal Data without a legal basis under the Terms.

5. Compliance with Privacy Laws

Equanimity shall inform the Customer without undue delay if he considers that the processing of Personal Data in accordance with these Data Protection Terms violates at any time applicable Privacy Laws. The Customer shall then be entitled to suspend the execution of the processing of Personal Data until Equanimity confirms or changes them.

Equanimity will provide such reasonable assistance as and information to the Customer, as Equanimity is obliged to under applicable Privacy Laws. This includes a duty to provide assistance and information with respect to the Customer’s security of processing, personal data breach notification and communication to the Data Subject, data protection impact assessment and prior consultation to the relevant supervisory authority.

6. Processing details

The parties acknowledge and agree that:

  • The duration of the processing shall be for the duration of the Customer’s right to use the Service and until all Personal Data is deleted or returned in accordance with Customer instructions or the Terms;
  • The nature and purpose of the processing shall be to provide the Service pursuant to Terms and/or Order Form, and may include structuring, storage, retrieval, disclosure by transmission, restriction, and erasure of Personal Data;
  • The types of Personal Data processed by the Service include files such as text, audio, video, images, source of funds documentation, or other content uploaded by the Customer; and
  • The categories of data subjects are Customer’s representatives and end users, such as employees, contractors, collaborators, and customers.

7. Data Subject Rights

Equanimity shall comply with the Customer’s reasonable requests to assist with requests from data subjects. If Equanimity receives a request from Customer’s data subject to exercise one or more of its rights under the GDPR in connection with a Service where Equanimity is a data processor or subprocessor, Equanimity will redirect the data subject to make its request directly to the Customer. Customer is responsible for responding to any such request including, where necessary, by using the functionality of the Service.

8. Sub-processors

Equanimity may engage third parties to provide certain services on its behalf. Customer consents to the engagement of these third parties as Subprocessors. The above authorizations will constitute Customer’s prior written consent to the subcontracting by Equanimity of the processing of Personal Data.

An overview of Equanimity’s Subprocessors is available at www.equanimity.li/data-processors

Equanimity is fully responsible for its Subprocessors’ compliance with these Data Protection Terms. When engaging any Subprocessor, Equanimity will ensure via a written contract that the Subprocessor may access and use Personal Data only to deliver the contracted services and is prohibited from using Personal Data for any other purpose. Equanimity will ensure that Subprocessors are bound by written agreements that require them to provide at least the level of data protection required of Equanimity in these Data Protection Terms.

Equanimity may replace or engage new Subprocessors. Equanimity will give the Customer notice of any new Subprocessor at least 30 days in advance of providing that Subprocessor with access to Personal Data.

If the Customer does not approve of a new Subprocessor, the Terms may be terminated with no penalty for the Customer, providing that the written notice of termination is received by Equanimity before expiry of the 30 days’ period stipulated above, and includes an explanation of the grounds for non-approval. If the Customer has elected the Annual Plan in accordance with the clause 13 of the Terms, the Customer is entitled to a refund that is proportional to the remaining Service period already paid for.

9. Transfers of personal data

Equanimity will not transfer Personal Data outside the country in which the Customer originally delivered it to Equanimity without the explicit written consent of the Customer. Personal Data delivered to a location inside the European Economic Area (“EEA”) may be transferred to other locations within the EEA.

In case of transfer of Personal Data outside the EEA or to an international organization, Equanimity will enter into the EU Standard Contractual Clauses for the transfer of Personal Data to Processors established in Third Countries – Contract Template for Data Transfer Agreement (Decision 2010/87/EU), on behalf of the customer, or any replacement or alternative clauses approved by the European Commission.

Equanimity may transfer Personal Data outside the EEA or to an international organisation if required to do so by law to which Equanimity is subject. In such a case, Equanimity shall inform the Customer of that legal requirement before processing, unless that law prohibits such information on important grounds of public interest.

Further, Equanimity will enter into any written agreements, declarations or statements that are necessary (in the Customer’s reasonable determination) to comply with Privacy Laws concerning any cross-border transfer of Personal Data, whether to or from Equanimity.

10. Information security

Equanimity will implement appropriate technical and organizational measures in such a manner that Equanimity’s processing of Personal Data will meet the requirements of applicable Privacy Laws and ensure the protection of the rights of the data subject.

Equanimity will develop, implement and maintain security procedures and practices to protect against accidental or unlawful destruction, loss, alteration or unauthorized disclosure of and access to Personal Data (hereinafter “Personal Data Breach”). Any use of the information systems and the Personal Data that contravenes established routines, instructions from the Customer or applicable Privacy Laws, as well as any security breaches, shall also be treated as a Personal Data Breach.

An overview of the specific security measures Equanimity has implemented in order to fulfill the requirements under the Privacy Laws is available at www.equanimity.li/privacy-policy 

Equanimity may amend the security measures from time to time, but warrants that the measures comply with applicable Privacy Laws. 

Equanimity will provide training, as appropriate, regarding the privacy, confidentiality and information security requirements set forth in these Data Protection Terms to all persons acting under the authority of Equanimity with access to Personal Data.

Equanimity shall keep confidential all Personal Data and other confidential information. Equanimity shall further ensure that each person under the authority of Equanimity, whether employed or for hire, having access to or being involved with the processing of Personal Data under these Data Protection Terms (i) undertakes a duty of confidentiality and (ii) is informed of and complies with the obligations set herein. The duty of confidentiality shall also apply after termination of the Terms.

11. Personal data breach and notification

Equanimity shall without undue delay notify the Customer upon becoming aware of a Personal Data Breach.

Such notice will summarize in reasonable detail the effect of the breach on the services, and the corrective action taken to be taken by Equanimity.

Equanimity will cooperate fully with the Customer in all reasonable and lawful efforts to prevent, mitigate or rectify such Personal Data Breach.

Equanimity shall have in place routines and systematic processes to follow up Personal Data Breaches which shall include re-establishing the normal state of affairs, eliminating the cause of the Personal Data Breach and preventing its recurrence.

12. Audits and records of processing activities

Where required under the GDPR, Equanimity shall maintain all records required by Article 30(2) and, to the extent applicable to the processing of Personal Data on behalf of Customer, make them available to Customer upon request.

In order to confirm compliance with these Data Protection Terms, the Customer shall be at liberty to conduct an audit by assigning an independent third party who shall be obliged to observe confidentiality in this regard. Any such audit will follow Equanimity’s reasonable security requirements, and will not interfere unreasonably with Equanimity’s business activities.

The audit may only be undertaken after the Customer having provided two weeks written notice to the Equanimity.

The findings in respect of the performed audit will be discussed and evaluated by the parties and, where applicable, implemented accordingly as the case may be by one of the parties or jointly by both parties.

All costs relating to the audit will be borne by the Customer.

13. Liability

The parties’ economic liability for damages suffered by data subjects or other physicals persons and which results from a party’s breach of Privacy Laws is exhaustively governed by GDPR Article 82.

The limitation of liability in Clause 22 does not apply to liability arising from GDPR Article 82.

14. Data Retention and Deletion

At all times during the term of the Customer’s subscription to the Service, the Customer will have the ability to access, extract and delete Personal Data stored in the Service.

Equanimity will retain Personal Data that remains stored in a Service in a limited function account for up to 90 days after expiration or termination of Customer’s subscription so that Customer may extract the data. After the retention period ends, Equanimity will disable Customer’s account and delete the Personal Data within an additional 90 days, unless Equanimity is permitted or required by applicable law to retain such data or authorized in these Data Protection Terms.