Effective September 2026. Replaces the User Agreement dated March 2026.
Terrace Research, Inc. ("Terrace", "we", "us") provides a service that organizes the materials investment managers send institutional investors into structured data in the investor's own workspace. These terms govern your use of that service. If your organization has a signed agreement with Terrace, that agreement governs wherever it and these terms differ.
By creating a Terrace account or accessing or using our Services, you agree to a binding contract with Terrace Research, Inc., a Delaware corporation, 2810 N Church St STE 90208, Wilmington, DE 19802, United States (this "Contract"), even if you use the Services on behalf of an organization. If you do not agree, do not create an account or use the Services. You may end this Contract at any time by closing your account and no longer using the Services.
This Contract applies to app.terraceresearch.com, the Terrace API, the Terrace MCP server for AI assistants, the Terrace add-in for Microsoft Outlook, the Terrace browser extension, and any other Terrace service or integration that says it is offered under this Contract (together, the "Services").
Content means the documents and information you or your organization provide to the Services, including uploaded files, mail and attachments captured from a connected mailbox, notes, and any other material you supply.
Structured Data means the data the Services extract or derive from Content and hold in your organization's workspace.
Organization means the entity on whose behalf you use the Services, as identified by your account.
Data Rights Schedule means Terrace's schedule of the categories of data it holds and the rights attaching to each. It is provided to client organizations and forms part of their agreements with Terrace.
We may change this Contract. If a change is material we will give notice through the Services or by email before it takes effect. If you object to a change you may close your account. Continued use after the effective date of a change means you accept it.
To use the Services you confirm that you are at least 18 years old, that your account is in your own name or your organization's, and that Terrace has not previously restricted you from the Services.
You agree to protect your account against unauthorized access, including by keeping your password confidential and using a second factor where offered; not to share or transfer your account; and to follow the law and this Contract. You are responsible for what happens through your account unless you close it or report misuse to us.
If the Services were purchased by your organization for your use in your work, your organization may control access to the Services and receive reports on its use. It does not receive your personal account credentials.
If you or your organization purchase paid Services, you agree to pay the applicable fees and taxes as stated in the order or agreement. Fees for a subscription period are charged at the start of that period unless the order says otherwise; to avoid charges for the next period, cancel before the renewal date. We may change prices for future periods on reasonable notice, to the extent the law allows. Failure to pay may result in suspension or termination of the paid Services.
We will give you notices and messages within the Services or by the contact details you gave us, such as email. Keep your contact details up to date.
As between you and Terrace, you own your Content, and your organization owns the Structured Data that is specific to your organization, in each case as the Data Rights Schedule describes.
You grant Terrace a non-exclusive, worldwide, royalty-free license to host, store, copy, process and transform your Content and Structured Data in order to provide, secure, maintain and improve the Services, including by training and evaluating Terrace's own models as described in the Data Rights Schedule, and to comply with law. Terrace does not sell your Content or Structured Data. The uses Terrace may make of each category of data, and the protections that apply to them, are set out in the Data Rights Schedule.
You may end this license for particular Content by deleting it from the Services, or generally by closing your account, subject to Section 7 and to uses already made under the Data Rights Schedule.
If you send us suggestions or feedback about the Services, we may use them without obligation or compensation to you.
You represent that you have the right to provide the Content you provide, and that doing so does not violate the law or the rights of any person, including intellectual-property rights and confidentiality obligations you owe to others.
We may change, suspend or discontinue any part of the Services, may limit the availability of features, and may suspend access where we reasonably believe that is needed to protect the Services or their users. Terrace is not a storage service. While we keep your Content and Structured Data as part of the Services, we have no obligation to store or provide copies of them beyond the term of your subscription and the export period in Section 7, except as the law requires.
During your subscription you may request an export of your organization's Content and Structured Data. On termination, Section 7 applies.
Terrace and its licensors own the Services, including their design, code, methods, prompts, models, user interface and documentation, and all improvements to them, together with the data categories the Data Rights Schedule allocates to Terrace. Nothing in this Contract gives you any right in them beyond access to the Services during the term in accordance with this Contract.
We may limit your use of the Services, including through API rate limits and ingestion volumes. We may restrict, suspend or terminate your account if you breach this Contract or the law or misuse the Services.
The Services depend on large language models and other AI systems. Your Content is processed by third-party model providers engaged by Terrace under terms that restrict their use of your data, and by models Terrace operates itself. If you are not comfortable with your Content being processed by such providers, do not use the Services. Terrace's Vendor and Subprocessor Register, which lists the providers, is provided to client organizations.
The Services run on cloud infrastructure in the United States. Content and Structured Data are protected by encryption and by access controls that separate one organization's data from another's. Terrace's security documents are provided to client organizations and are available to prospective clients on request.
The Services provide an API and an MCP server through which your own AI assistants and tools may query your organization's data. You are responsible for securing any credentials, tokens and connectors issued to you or your organization and for everything done with them.
How Terrace handles personal data about you as a user is described in the Privacy Notice. Terrace processes personal data contained in your Content on your organization's behalf and under its instructions.
Terrace and its affiliates make no representation or warranty about the Services, including that they will be uninterrupted or error-free, and provide the Services, including content, output and information, on an "as is" and "as available" basis. To the fullest extent permitted by law, Terrace and its affiliates disclaim any implied or statutory warranty, including any implied warranty of title, accuracy, non-infringement, merchantability or fitness for a particular purpose.
The Services produce their output with language models, and such output can be inaccurate, incomplete or misleading. It is your responsibility to verify Structured Data before relying on it. Terrace does not provide investment, legal, tax or accounting advice and does not recommend, rate or express views on any investment manager or investment.
To the fullest extent permitted by law, Terrace and its affiliates will not be liable in connection with this Contract for lost profits or lost business opportunities, loss of data, or any indirect, incidental, consequential, special or punitive damages. Terrace and its affiliates will not be liable to you in connection with this Contract for any amount that exceeds the greater of (a) the total fees paid or payable by you or your organization to Terrace for the Services during the twelve months immediately preceding the event giving rise to the claim, and (b) one thousand US dollars.
The limitations in this Section 5 are part of the basis of the bargain between you and Terrace and apply to all claims, whether in warranty, tort, negligence, contract or otherwise, even if Terrace has been told of the possibility of the damage and even if a remedy fails its essential purpose. Where your organization has a signed agreement with Terrace, the liability terms of that agreement apply instead.
You will defend, indemnify and hold harmless Terrace and its affiliates from any claim, loss or expense, including reasonable attorneys' fees, arising from Content you provide, from your use of the Services in breach of this Contract or the law, or from your breach of the rights of any third party.
Either you or Terrace may end this Contract at any time with notice to the other. On termination you lose the right to access or use the Services. Sections 3.1 as to uses already made, 3.4, 5, 6, 8 and 9, our rights in feedback, and any amounts owed before termination survive.
On termination Terrace makes your organization's Content and Structured Data available for export for a reasonable period, and thereafter deletes them in accordance with its retention practices and any signed agreement with your organization.
This Contract and any dispute relating to it or to the Services are governed by the laws of the State of Delaware, United States, excluding its conflict-of-laws rules. You and Terrace agree that claims and disputes may be brought only in the state or federal courts located in Delaware, and each of us consents to the personal jurisdiction of those courts. To the extent permitted by law, you and Terrace each waive any right to a jury trial and agree that claims may be brought only in an individual capacity and not as a plaintiff or class member in any class or representative proceeding.
If a court with authority over this Contract finds any part of it unenforceable, the court should modify that part to make it enforceable while keeping its intent, or if that is not possible, remove it and enforce the rest. This Contract, together with any signed agreement between Terrace and your organization, is the entire agreement between us regarding the Services and replaces prior agreements for the Services. If we do not act on a breach, we do not waive our right to act on it later. You may not assign this Contract, your account or your use of the Services without our consent; Terrace may assign this Contract to an affiliate or to a party that acquires it. There are no third-party beneficiaries. Neither party is liable for delay or failure caused by events beyond its reasonable control. You will comply with applicable export-control and sanctions laws in using the Services.
You agree that you will:
You agree that you will not:
Terrace Research, Inc., 2810 N Church St STE 90208, Wilmington, DE 19802, United States. Legal notices and general enquiries: [email protected]. Privacy: [email protected].
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