The closed joint stock Company “Analysis, Consultations and Marketing“ (AK&M ), with registered offices at Ul. Svobody 28, Korpus 2, 123364 Moscow, Russian Federation (the Company),
and "the Client" which means the individual or other person who is registering for access to AK&M News On-Line service under the terms of this Subscription Agreement.

  1. Definitions

1.1 The Information - news on Russian financial markets; news on Russian financial market performance; express analysis of the situation on the market; corporate news; news of investment companies; changes in the legislation; the Information from state bodies; digest of central and regional mass media being in the electronic form of the text - “AK& M On-line News” (Information owner and editor is the closed joint stock Company “Analysis, Consultations and Marketing“). Information is stored on the sever of the Company.
1.2 Software - the program for the navigation and review of the Information in Internet global network.
1.3 Terminal - Client’s PC with the installed Software for viewing and use of the Information.
1.4 Subscription - sale by the Company and purchase by the Client of the Information and the proper services to access the Information under conditions stipulated by the present agreement.
1.5 Subscription period - the time period (one, two or tree month) within agreement term for which the payment is made and during which access to the Information is provided.

2. Subject of the agreement

It is agreed that the Client subscribes and the Company provides the Information on the terms and conditions specified in this agreement.

3. Copyrights

3.1 The client recognizes that the Company has the exclusive proprietary and non proprietary rights for Information.
3.2 The Information is subject to Russian Federation law on Copyrights and law on Data bases and Computer Program Copyrights.
3.3 Any distribution of the Information by the Client in mass media or to other third parties and creation of competitive information product without the preliminary written permission of the Company and without reference to the source of the Information is prohibited.
3.4 The Client is prohibited to:
3.4.1 transfer the Information, its components and documents to the third parties
3.4.2 sell the Information as a whole or in parts
3.4.3 distribute to the third parties (including free of charge) files related to the Information and received while using the service
3.5 Access to the Information and its usage could be carried out only by the Client’s employees and on the Terminals registered by the Company.

4. Access to the Information and its usage

4.1 The Information becomes available for usage of the Client by the Company enabling the Client to access the proper section of the Company's WWW server in the Internet global network.
4.2 The Company defines and informs the Client on the unique system name/names and password/passwords for the access to the proper section of WWW server of the Company
4.3 The Company has the right to carry out means necessary for the Information protection from non-permitted coping or usage. For this purpose, in particular, the Company registers the Client’s Terminals, and the Client is responsible for the provision of individual parameters of the Terminals to the Company. The access to the Company’s server is enabled only after the Terminals registration
4.4 The number of Terminals is specified in the Appendix N 1
4.5 At any given moment only one connection with the Company’s server is permitted with the given system name and password.
4.6 In order to change the ways for receiving the Information - the number of system names and /or passwords, number of Terminals - the Client has to notify the Company in written form.
4.7 The System name and/or password changes do not require the new Appendix N1 compilation and are executed in 3 working days after the receipt of the Client's request in written form.
4.8 To receive the Information the Client should have:
  • Internet access with the line capacity no less than 9600bps;
  • program for the navigation and review of the Information in the Internet global network with the correct windows-1251 code page support, e.g. Microsoft Internet Explorer 3.0 TM (or higher) or Netscape Navigator 3.0 TM (or higher).
4.9 Information is updated at the Company's server. To view the updated Information, the Client should use the command “refresh” of the review program.
4.10 The claims on the access to the Company’s server can be submitted by the Client to the Company in the written form in 3 working days from the date of the failure to access the Information.
4.11 If there are no claims on the expiration of the Subscription period, the Services of the Company are considered to be duly carried out. In case of any claims the carrying-out of Company’s liabilities over the next period could be certified by the two side act produced after the claims are complied or the refuse from them
  1. Payment

5.1 The Client pays in advance for the Subscription subject to this agreement upon receipt of the invoices from the Company.
5.2 The amount of the payment for the initial period is stated in the invoice issued by the Company to the Client upon signing this agreement.
5.3 No less than in 6 bank days prior to the start of the next Subscription period the Company issues the invoice stating the payment amount for the next Subscription period to the Client.
5.4 The calculation of the payment amount is carried out on the basis of the current prices being in force at the date of the invoice issue.
5.5 The invoice issued by the Company is in force and should be paid in 5 bank days upon receipt.
5.6 The payment is carried out through bank wire transfer to the accounts of the Company stated below.
5.7 The payment should be made in Russian rubles or in US dollars according to the invoice.
5.8 Access to the Information is granted to the Client upon the receipt of payment for the Subscription period at the Company's bank account or the payment is confirmed by the copy of the payment order authorized by the bank of the Client
  1. Confidentiality

6.1 Each party undertakes and agrees with the other not to disclose or permit to be disclosed to any third party or otherwise make use of or permit to be made use of any trade secrets or confidential information (the Confidential Information) relating to the business, affairs or finances of the other party.
6.2 The obligations of confidence referred to in clause 6.1 shall not extend to any information which;
6.2.1 is or becomes generally available to the public otherwise than by reason of breach by the other party (the Receiving Party) of this clause 6
6.2.2 is subsequently disclosed to the Receiving Party without obligations of confidence by a third party owing no such obligations in respect of it; and/or
6.2.3 is required to be disclosed by law or any regulation but only to the extent and for the purpose of such disclosure.
6.3 This clause 6 survives termination of this Agreement.
  1. Liabilities

7.1 In case of the breach or improper observation of provisions of this agreement the defaulting party is liable according to the Russian Federation legislation in force.
7.2 In case of the Client infringing the Company’s rights stated in clause 3, the Company has the right to terminate the agreement unilaterally without any compensations for the unused term of the Subscription period.
7.3 In case of the breach by the Client the provisions stated in clause 3 of the current agreement the Client is charged to pay compensation to the Company for the lost profit. The parties of the current agreement agree that the amount of the lost profit will be determined as the total profit received by the Client due to unauthorized use of the Information.
7.4 The Information provided to the Client by the Company is obtained from the sources believed to be reliable. The Company will do its best efforts to ensure the accuracy of the Information. However the Company makes no representation or warranty as to the accuracy or adequacy of the Information. The Information is indicative and is not deemed as a solicitation for the purchase or sale of any security. Use of the Information is at the Client's sole risk and shall not be made the basis for any claim, demand or cause for action.
7.5 Neither the Company nor the Client will be under any liability for any loss or any failure to perform any obligation under this Agreement due to causes beyond their control including, but not limited to, industrial disputes of whatever nature, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, break-down of plant or machinery or telecommunication networks, fire, flood or storm.
  1. Term and Termination.

8.1 This Agreement takes effect on the date of registration by the Client and will continue 1 month (the Initial Term).
8.2 This Agreement is automatically renewed for the following 1 months term (the Renewal Term) unless either party gives the other 10 days’ written notice of termination prior to the expiration of the Initial Term or any Renewal Term.
8.3 Similar procedure of prolongation will be used further on .
8.4 The agreement can be terminated in case of:
8.4.1 written agreement between the parties;
8.4.2 the breach by the Client the provisions of the agreement. In that case the payment for unused Subscription period is not returned.
8.4.3 the Client decides to terminate the agreement without the Company breach of the agreement, in such case the payment for the rest of the Subscription period is not returned.
8.4.4 the access to the Company's server is impossible for more than 3 days due to the fault of the Company. The payment for unused Subscription period is returned to the Client.
8.4.5 the Company stops providing the service of distributing the Information. The payment for unused Subscription period is returned to the Client.
8.4.6 on the winding-up or liquidation of the Client. The payment for unused Subscription period is not returned.
8.4.7 on the winding-up or liquidation of the Company. The payment for unused Subscription period is returned to the Client.
8.5 Termination of this Agreement will not affect any rights and obligations of either party which have arisen on or before termination.

9. Arbitration

9.1 This Agreement is governed by and shall be construed in accordance with Russian law. The parties agree that any disputes arising out of or in connection with this Agreement, unless otherwise agreed, shall be settled by arbitration court of Moscow, Russia. Accordingly, any proceedings arising out of or in connection with this Agreement shall be brought in those courts.
9.2 In case the Client is non Russian Federation entity, or relative to this agreement, any collisions of different countries legislation could arise, the applicable law should be of the Russian Federation, and any disputes which arise due to the agreement or relative to it including its realization, breach, cancellation or invalidity should be referred to the International Commercial Arbitration Court at the Chamber of Industry and Commerce of Russia, Moscow, in accordance with the rules of procedure of this court.
9.3 In case of any contradictions in the interpretation of this agreement in different languages the Russian language shall prevail.
  1. Completeness of the agreement and order of change

10.1 This Agreement constitutes the entire agreement between the parties relating to its subject matter and supersedes all prior agreements, undertakings, representations, negotiations and discussions with respect to its subject matter, whether oral or written.
10.2 The rights and liabilities by the present agreement couldn’t be transferred by any party to the third parties without preliminary permission of other party for this in written form.
10.3 The Company keeps the right of unconditional review of prices.
10.4 Any other further additions or amendments to the present agreement should be agreed by the parties and registered properly in written form.


Tel: +7 (495) 916-70-30 / 71-51
        +7 (499) 132-61-76 / 61-73
Fax: +7 (499) 132-69-18 / 60-93
       +7 (495) 916-71-64 / 70-71
Copyright © 1996- AK&M

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