Terms of Service - Wealth Beacon

These Terms of Service outline the rules and responsibility for using the Wealth Beacon platform. By using our services, you agree to these terms, forming a binding contract between you (the Client) and us (Wealth Beacon OÜ).

Please read these Terms of Service carefully. By accepting these Terms of Service, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service. If you do not agree to be bound by these Terms of Service, then please do not access or use the Platform and the Services.

The definitions and terms defined below keep their meaning through this Terms of Service, regardless if they are capitalised or not in the sentence.

1. Definitions and terms

Platform: means the Wealth Beacon website, application, and related services.
Billing Period: This refers to the duration mutually agreed between the Parties, which can be monthly, multi-monthly, annual or multi-year for the subscription and payment for the use of the Platform.
Client Account: A profile connected to a specific Client for use of the Platform, which is used to identify the Client, provide the Services, and change and save settings.
Client/ You: A person who has entered into the Contract with Wealth Beacon.
Content(s): The data, and other materials added by the Client (portfolio data, spreadsheets for import, etc.).
Contract: An agreement for the use if the Platform and Services concluded between Wealth Beacon and the Client.
Legal Acts: any applicable statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common law, judgement, decree, other requirements, or rule of law, including any privacy and data protection laws.
Malware: Any thing or device (including any software, code, file, or program) which may: prevent, impair or otherwise adversely affect the operation of any computer software, hardware or network, any telecommunications service, equipment or network, or any other service or device; prevent, impair or otherwise adversely affect access to or the operation of any program or data, including the reliability of any program or data (whether by rearranging, altering or erasing the program or data in whole or part or otherwise); or adversely affect the user experience, including worms, trojan horses, viruses, malware, and other similar things or devices.
We/ Wealth Beacon/ Our: Wealth Beacon OÜ (registry code: 16889317, address: Teaduse 17 – 10, Saku 75501 Harjumaa, Estonia)
Party or Parties: In singular, either Wealth Beacon or the Client, depending on the context, in plural both.
Privacy Policy: a policy that explains how Wealth Beacon processes the personal data of the Clients.
Service(s): encompass the various features offered by the Platform.
Status Page: A web page where we show the status of the Platform and Services. Available at https://status.wealthbeacon.io
Vulnerability: A weakness in the computational logic (for example, code) found in software and hardware components that when exploited, results in a negative impact to the confidentiality, integrity, or availability, and the term Vulnerabilities shall be construed accordingly.
Web Site: All the domains (like wealthbeacon.io and other websites with the name “wealthbeacon” registered under various top-level domains) and the web documents available via their subdomains (including images, videos, code files, etc.) that belong to Wealth Beacon.

2. The Platform and Services

2.1. The Platform is a software for the visualisation of the Client’s investment portfolios.
2.2. The Platform is intended to be used by persons participating in investment activities.
2.3. The Platform offers monitoring for various kinds of financial vehicles, data related to each might be updated at various intervals depending on the technical setup
2.4. In order to utilise the full functionality of the Platform, the Client must create a Client Account, have adequate access to the internet, and use a compatible web browser.

3. The Contract: Entry and Termination

3.1. The Contract shall be deemed to be concluded when:
- 3.1.1. the Client creates an account on the Platform, thereby agreeing to the Terms of Service and confirming that it has familiarised itself with the Privacy Policy; or
- 3.1.2. the Client accepts the Terms of Service and confirms that it has familiarised itself with the Privacy Policy.
3.2. The Client shall thoroughly familiarise itself with the Terms of Service and the Privacy Policy before entry into the Contract, and, upon the request of Wealth Beacon, confirm that they have done so.
3.3. Upon concluding the Contract, the Client shall verify, represent and warrant that:
- 3.3.1. all the data and confirmations that the Client have submitted or given are accurate, correct, complete and relevant;
- 3.3.2. the Client is a person with full active legal capacity (at least 18 years old or the age of majority in the applicable jurisdiction).
3.4.The correctness of the authorizations set out in this clause of the Terms of Service is assumed and Wealth Beacon shall not be obligated to, but may, verify them.
3.5. The Contract commences when the Contract has been concluded and will continue for an initial term of 1 Billing Period. Upon the expiration of this period, unless agreed otherwise in writing, the Contract will automatically extend for successive terms of 1 Billing Period, provided that either Party may unilaterally terminate the Contract without a reason or change package effective upon the expiration of the initial term or then-current term, by notifying the other Party via the Platform prior to the expiration of the initial term or then-current term.
3.6. Either Party has the right to unilaterally cancel the Contract without notice if the other Party breaches the terms of this Contract and has not remedied the breach within an additional reasonable period of time given to remedy the breach.
3.7. Upon termination or expiry of the Contract, Wealth Beacon shall not have the obligation to save settings specific to the Client or other content specific to the Client.
3.8. Wealth Beacon shall have the right to unilaterally cancel the Contract immediately, without prior notice, if:
- 3.8.1. the Client has submitted false information about the Client;
- 3.8.2. it becomes evident that the person who has used the Platform, Services, or Client Account in the name of the Client has no right of representation to act on behalf of the Client;
- 3.8.3. bankruptcy of the Client has been declared, or compulsory dissolution or liquidation has been initiated against the Client;
- 3.8.4. the Client causes Wealth Beacon damage;
- 3.8.5. the Client causes any Vulnerabilities or allows entry of Malware to the Platform;
- 3.8.6. other grounds apply as specified in the Contract or the Legal Acts.

4. Client’s responsibilities

4.1 The Client is to ensure that the functions of the Platform and Services are in accordance with their needs and meet their technical, organisational, legal, privacy, and practical requirements and using the Platform is in accordance to any Legal Acts applicable to the Client.
4.2 Clients agree not to use the Platform for illegal purposes or competitive monitoring.
4.3 The Client may not:
- 4.3.1. use the Platform to the extent that they do not agree with the Terms of Service;
- 4.3.2. use the Platform in any way that is not in compliance with Legal Acts;
- 4.3.3. use the Platform for the purposes of monitoring their availability or functionality, or for any other competitive purposes, whether or not permitted by the Legal Acts;
- 4.3.4. allow or suffer any Client Account to be used by more than one individual;
- 4.3.5. attempt to copy, modify, duplicate, create derivative works from, frame, mirror, republish, download, display, transmit, or distribute all or any portion of the Platform in any form or media or by any means;
- 4.3.6. attempt to decompile, reverse compile, disassemble, reverse engineer or otherwise reduce to the human-perceivable form of all or any part of the Platform.

5. Our rights and obligation

5.1. We shall use commercially reasonable efforts to ensure that the Platform and the Services are available for the Client, function securely, reflect the newest technological solutions, and are comfortable to use. The Client understands and agrees that we have the right to change, limit, improve and enhance the technical structure, security, availability, and functionality of the Platform and/or the Services at any time.
5.2. The Client takes into consideration and agrees that We may:
- 5.2.1. impose restrictions on the use of some parts or functionalities of the Platform and Services;
- 5.2.2. suspend or terminate the provision of the Services and the Platform and close any of its parts. In the case of closing the Platform, Wealth Beacon shall submit a notice to the Client to terminate the Contract under the Terms of Service.
- 5.2.3. refuse to offer or provide access to the Platform to any Client.
5.3. We have the right to unilaterally change the Terms of Service at any time, by publishing the new wording of the Terms of Service, together with the changes made, on the Web Site.
5.4. We will notify you of any updates to our Terms of Service on our website and through a direct message to your provided contact details at least 14 days before they take effect. If you disagree with these changes, you have the right to end your contract with us within these 14 days. If you continue to use our Platform and Services for 30 days or more after we issue these changes without accepting the new Terms of Service, it will be assumed that you have accepted the changes.
5.5. We have the right to stop providing a service without affecting your overall subscription and still charge the full fee if any of the following occurs:
- 5.5.1. You break the contract terms and don’t fix the issue within 7 days after we notify you;
- 5.5.2. You commit a breach of the contract;
- 5.5.3. Continuing our service to you could create security risks;
- 5.5.4. You give us incorrect, misleading, incomplete instructions or feedback, or repeatedly miss agreed deadlines;
- 5.5.5. You don’t respond to our emails about the service for 14 days or more;
- 5.5.6. You ask for something during the service that we’ve told you is unreasonable or can’t be done;
- 5.5.7. You change your decisions, instructions, or relevant information in a way that makes it too difficult, costly, or impossible for us to provide the service;
- 5.5.8. Continuing the service would break Legal Acts or infringe on someone else’s rights;
- 5.5.9. Considering all circumstances, it’s not reasonable for us to keep providing the service.

6. Disclaimer, Legal Remedies, and Liabilities

6.1. WEALTH BEACON PROVIDES THE PLATFORM “AS IS”. BEYOND WHAT’S STATED IN THE TERMS OF SERVICE, WE DON’T MAKE ANY EXTRA PROMISES OR COMMITMENTS ABOUT THE PLATFORM’S SPECIFIC FUNCTIONS, LEGAL COMPLIANCE, SUITABILITY FOR A PARTICULAR PURPOSE, RELIABILITY, AVAILABILITY, OR FIT FOR YOUR NEEDS, UNLESS AGREED DIFFERENTLY IN WRITING.
6.2. TO THE EXTENT ALLOWED BY LAW, WE’RE ONLY LIABLE FOR OUR OWN FAULTY ACTIONS OR FAILURES TO ACT. OUR TOTAL LIABILITY IS LIMITED TO EITHER THE FEES YOU’VE PAID US FOR THE PLATFORM OVER THE LAST 3 MONTHS BEFORE THE DAMAGE OCCURRED, OR THE ACTUAL DAMAGES, WHICHEVER IS LOWER. WE WON’T BE LIABLE FOR LOST PROFITS, ECONOMIC DAMAGES, NON-MATERIAL DAMAGES, OR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, UNLESS THE LAW REQUIRES OTHERWISE. WE’RE ALSO NOT RESPONSIBLE FOR ISSUES LIKE:
- 6.2.1. The Platform not working in certain web browsers;
- 6.2.2. Contents added by you that don’t comply with the Contract or legal standards;
- 6.2.3. Your processing of personal data on the Platform that violates Legal Acts;
- 6.2.4. Situations beyond our control, like internet outages, hosting issues, or utility interruptions;
- 6.2.5. Errors or inappropriate settings on your devices;
- 6.2.6. Delays or interruptions during maintenance or development work;
- 6.2.7. Actions we take to stop or fix violations of Legal Acts or the Contract;
- 6.2.8. Legal actions we take that might cause you or others damage;
- 6.2.9. Loss of your account password or unauthorised third-party access;
- 6.2.10. Vulnerabilities or malware issues caused by you.
6.3. This Platform is a visualisation tool, it does not provide financial advice or a guarantee of real-time information.
6.4. We’re not responsible for the success or feasibility of any data migration, import, or export you undertake.
6.5. THE PLATFORM MAY NOT ALWAYS BE UNINTERRUPTED OR ERROR-FREE, AND WE CAN’T GUARANTEE IT WILL MEET ANY SPECIFIC REQUIREMENTS UNLESS WE’VE AGREED TO THIS IN WRITING. WE’RE NOT RESPONSIBLE FOR ANY ISSUES CAUSED BY INTERNET DELAYS OR DATA TRANSFER PROBLEMS.
6.6. Data on the Platform is not guaranteed to be real-time, the real-time accuracy of the data is variable depending on the Service and the technical solution used to implement them.

7. Platform usage fee and payment

7.1. Wealth Beacon reserves the right to set fees for using the Platform. These fees will be displayed on our website or provided upon request. Clients can select the package that best suits their needs for Platform usage.
7.2. Clients must pay for using the Platform according to the price list on our website, considering their chosen package, any additional features (add-ons), and other conditions.
7.3. Payments for Platform use are based on periodic prepayment. This means Clients pay in advance for each upcoming usage period. Clients and Wealth Beacon can agree on a Billing Period that is multi-year, annual, multi-month, or monthly. Invoices issued by Wealth Beacon for Platform use must be paid within 10 days. Late payments will incur an interest charge of 0.5% per day, up to the maximum yearly rate allowed by Legal Acts.
7.4. Wealth Beacon offers a trial version of the Platform, typically available for 30-days, but we reserve the right to extend this period for certain promotions, beta testing, or special offers. New Clients can use this trial to explore the Platform’s features. To continue using the Platform after the trial, Clients must select a package and make a prepayment for the following Billing Period before the trial period ends. If a Client doesn’t transition to a paid plan by the end of the trial, Wealth Beacon may close the Client’s account, which includes deleting all uploaded content and automatically ending the contract. Unless specified otherwise, content uploaded during the trial will be retained for a period as stated in the Data Processing Agreement (DPA) after the trial expires. This flexibility in the trial period duration and the offer of free periods or discount codes apply only to the trial version of the Platform and do not extend to Clients who have already entered into a subscription or have been issued an invoice for the Platform’s subscription and/or services.
7.5. RECURRING PAYMENTS. IF THE CLIENT IS PAYING BY CREDIT OR DEBIT CARD, THE CLIENT AUTHORISES THE OPERATOR TO CHARGE THEIR CREDIT CARD OR BANK ACCOUNT FOR ALL FEES PAYABLE ON A RECURRING BASIS, FOR EACH PAYMENT PERIOD ON THE DATE OF THE PAYMENT REQUEST. THE CLIENT FURTHER AUTHORISES THE OPERATOR TO USE A THIRD PARTY TO PROCESS PAYMENTS.
7.6. Any prepayments made to Wealth Beacon are non-refundable, including in situations such as:
- 7.6.1. If the Client doesn’t use the Platform during the prepaid period or only uses it partially;
- 7.6.2. If the Client switches to a different package of the Platform;
- 7.6.3. If the Client ends the contract on their own, either under the terms of the service or according to applicable law, without Wealth Beacon having significantly breached the contract and given a reasonable opportunity to fix any notified breach;
- 7.6.4. If Wealth Beacon ends the contract, either under the terms of the service or as per legal requirements.
7.7. If a Client doesn’t pay within the due date, Wealth Beacon has the right to restrict their access to the Platform and stop providing services. During this time, we still have the right to charge fees for the period when these restrictions are in place. We will inform the Client about any planned restrictions due to non-payment via email.
7.8. All fees are exclusive of taxes, DUTIES AND OTHER LEGAL CHARGES which Wealth Beacon will charge where applicable.

8. Intellectual Property

8.1. The Platform, Website, and all their components (like databases, software, business names, trademarks, trade secrets, domain names, etc.) are protected by intellectual property rights. These rights are owned by Wealth Beacon, our employees, or our partners.
8.2. Any works created by Wealth Beacon during service provision, and the intellectual property rights attached to them, are owned by Wealth Beacon or our employees. We have unrestricted use of these works and intellectual property rights.
8.3. While the contract is active, Wealth Beacon grants the Client the right to use the Platform’s functionality for their needs, following the contract and for the Platform’s intended purpose. We do not grant any additional licences or rights, and the Client won’t gain intellectual property rights over the Platform or website.
8.4. Without our prior written permission, the Client must not modify, copy, duplicate, distribute, process, translate, make extracts from, transmit, add to other databases, or publicly make available the Platform, website, or any parts thereof. The Client also cannot sublicense the use of the Platform, website, or create new intellectual properties based on them. The Platform and website, or any parts of them, cannot be sold, rented, licensed, linked to the Client’s or third parties’ systems, or used in ways that overload or disrupt their functionality, distort content, or in any manner not expressly permitted by Wealth Beacon.

9. Platform maintenance

9.1. Wealth Beacon has the right to temporarily limit access to the Platform if we need to make amendments, perform maintenance, or update the Platform. This includes work done by us or third parties and actions required by Legal Acts or decisions from authorities. We will inform Clients and users about any planned maintenance via our Status Page.

10. Legal remedies & dispute resolution

10.1. Wealth Beacon is not required to review the Contents uploaded by users to the Platform, nor to monitor user activities on it. This includes not needing to oversee information or content users add, transfer, store in cache memory, or save on the Platform.
10.2. However, if a Client violates the contract, the Platform’s guidelines (good practice), or Legal Acts, Wealth Beacon has the right to:
- 10.2.1. Remove the violation or unlawful content without keeping backups of such content;
- 10.2.2. Demand the cessation of the violation and insist that the behaviour or content conforms to the contract, good practices, or legal standards;
- 10.2.3. Temporarily block the Client’s access to services or parts of the Platform, including temporarily closing their account;
- 10.2.4. Limit the Client’s rights to use the Platform.
10.3. In cases where a Client’s violation is repeated or serious, Wealth Beacon reserves the right to:
- 10.3.1. Permanently prohibit the Client from using certain parts of the Platform or the services;
- 10.3.2. Delete the Client’s account;
- 10.3.3. Terminate the contract with the Client immediately and without prior notice.
10.4. If content removed from the Platform following a complaint is later shown, with convincing evidence, to be in compliance with the contract, good practices, or legal standards, Wealth Beacon may choose to restore or re-enable access to such content.
10.5. The contract is governed by the laws of the Republic of Estonia.
10.6. If a Client is dissatisfied with Wealth Beacon’s services, they have the right to submit a written complaint to us. We will try to resolve any disputes through negotiations. This approach also applies to other contractual disputes between a Client and Wealth Beacon.
10.7. For any disputes or claims related to the contract, its content, or formation (including non-contractual issues), the Harju County Court in Tallinn, Estonia, will be the exclusive court of first instance.
10.8. For any clarifications, questions, complaints you can contact us via email at [email protected]

Appendix 1

Data Processing Agreement

Background:
- This Data Processing Agreement (DPA) is an integral part of the contract (hereinafter referred to as the ‘Contract’) between the Client and Wealth Beacon, concerning access to and use of the Platform and our services. Any terms not defined in this DPA will have the meanings assigned to them in the Terms of Service.
- Wealth Beacon and the Client are committed to adhering to the General Data Protection Regulation (GDPR) – Regulation (EU) 2016/679 of the European Parliament and of the Council dated 27 April 2016 – and all other relevant data protection laws (collectively known as Data Protection Laws).
- In this DPA, terms such as ‘controller’, ‘processor’, ‘personal data’, ‘data subject’, and ‘personal data breach’ will have the meanings provided in the GDPR. The term ‘Sub-processor’ refers to any other processor engaged by Wealth Beacon to process personal data on the Platform or in relation to our services.
Purpose:
- Wealth Beacon offers data hosting and maintenance services through the Platform. It’s up to the Client to decide what content, including personal data, they want to process on the Platform. In this context, Wealth Beacon processes personal data solely to provide the Platform and our services. In doing so, Wealth Beacon acts as a data processor for this personal data, while the Client acts as a data controller.
Processing of Personal Data:
- Wealth Beacon processes personal data on behalf of Clients who sign up and use the Platform. The personal data processed by Wealth Beacon includes:
  - Contact information (names, email addresses).
  - Communication data (emails, messages sent to us).
  - Any personal data related to using the Platform and our services, including content.
- Wealth Beacon will:
  - Process personal data only based on lawful instructions from the Client, specifically for providing the Platform and services, unless Data Protection Laws require otherwise. If so, we will inform the Client in advance unless prohibited by Legal Acts.
  - Ensure all individuals processing personal data commit to confidentiality.
  - Alert the Client if their instructions seem to violate Data Protection Laws.
- We take appropriate technical and organisational security measures, considering the latest technology, implementation costs, processing nature, context, and purposes, and the risks to data subjects. These measures include encrypted storage and access controls, assuming that the Platform and services are used for intended purposes like financial portfolio visualisation.
- In the event of a personal data breach, we will notify the Client promptly via email and cooperate with them regarding the breach. The Client can use the information about the breach only to comply with or demonstrate compliance with Data Protection Laws and must keep this information confidential unless required to disclose it by Legal Acts.
Using Sub-processors
- The Client gives Wealth Beacon permission to use sub-processors as described in this section of the DPA. We’ll make sure these sub-processors agree in writing to provide the same level of data protection that we’re committed to under this DPA. We will inform the Client about any planned changes regarding new or replacement sub-processors at least 10 days before replacing or taking on another sub-processor. The Client can object to our choice of a sub-processor by letting us know in writing within 5 working days after they receive our notice. If the Client doesn’t agree with the new sub-processor, we’ll try to provide our Platform and services without using them. If this isn’t feasible, the Client may choose to terminate the Contract. We will require our sub-processors to adhere to the same data protection obligations as outlined in this agreement.
- Wealth Beacon and its sub-processors may transfer personal data outside the EU only where they have a lawful basis to do so, including to a recipient who is: (i) in a country which provides an adequate level of protection for personal data; or (ii) under appropriate safeguards that cover the EU requirements for the transfer of personal data to data processors outside the EU. More specific information about transferring personal data outside the EU is available upon request.
Audit rights:
- When the Client requests in writing, Wealth Beacon will provide information necessary to demonstrate compliance with this DPA and Article 28 of the GDPR, as long as we possess or control the requested information. If the Client needs more assurance, we’ll cooperate, including supporting reasonable audits or inspections initiated by the Client or their chosen and our accepted auditor. The specifics of these audits will be mutually agreed upon, but the following conditions apply:
  - We’ll only provide information, records, and documents that are reasonably needed to show our compliance with this DPA and Article 28 of the GDPR in relation to personal data processed for the Client.
  - We won’t disclose information that contains our business secrets.
  - We won’t share any information that would violate our confidentiality obligations under laws or agreements with other Clients or individuals.
  - We won’t provide details related to any ongoing, pending, or potential legal disputes between the Client and Wealth Beacon.
  - Any information we provide under this section must be treated as confidential by the Client.
  - The Client can conduct an audit like this once per calendar year, unless they have reasonable doubts about our compliance.
- The Client will bear the audit costs. However, if the audit uncovers any breaches or violations of this DPA by us or our sub-processors, Wealth Beacon will cover the audit costs and fix the breach.
Liability:
- If Wealth Beacon or our sub-processors are at fault, we will be responsible for any damage caused to the Client due to processing that goes against this DPA. This includes situations where the Client has had to compensate a data subject or pay administrative fines imposed by authorities. Our liability in these cases is limited as outlined in section 6 of the Terms of Service.
Term and termination
- This DPA is valid as long as Wealth Beacon processes personal data on behalf of the Client. The processing of personal data will end when one of the following happens:
  - The Client asks Wealth Beacon to delete or return the personal data and to stop processing it.
  - Wealth Beacon’s obligation to provide the Platform and services to the Client ends permanently, either because the contract is terminated or expires.
- When the processing of personal data ends, the data will, as per the Client’s choice, either be returned to them, to the extent possible, or deleted. This is unless any Legal Acts requires Wealth Beacon to retain the personal data. The Client instructs Wealth Beacon to retain content added to the Platform for up to 75 days after the contract or trial version ends.
- Any obligations from this DPA that should logically continue after it ends (eg. confidentiality duties) will remain in effect.
Miscellaneous
- The laws governing this DPA and how disputes are resolved are outlined in the Terms of Service.
- Any changes to this DPA must be agreed upon by the Client.
- If any part of this DPA is found to be invalid or unenforceable, the rest of the DPA will still be valid and enforceable. The invalid or unenforceable part will be either (i) modified to make it valid and enforceable, while keeping as close as possible to the original intentions, or, if that’s not possible, (ii) treated as if it was never part of the DPA. This also applies if the DPA misses any points.
- If there’s a conflict between the DPA and the Terms of Service, the terms of this DPA will take precedence.

/ End of the Data Processing Agreement /