slug: terms title: "Terms of Service & Disclaimer" version: "2026-04-22" effectiveDate: "2026-04-22" status: published

Terms of Service & Disclaimer

Effective date: 2026-04-22 Version: 2026-04-22

These Terms form a binding legal agreement between you and Artem Derevets, a sole operator based in Poland, reachable at support.tessera.alpha@gmail.com ("Tessera Alpha", "we", "us"). They govern your use of the Tessera Alpha website, web app, mobile app, and APIs (the "Service").

By creating an account or using the Service, you agree to these Terms and to our Privacy Policy. If you do not agree, do not use the Service.

1. What the Service is

Tessera Alpha is a software tool that displays quantitative metrics, comparative-valuation analysis, portfolio backtesting, and AI-generated written analysis of publicly traded companies. It is an informational tool, not a financial service.

2. NOT INVESTMENT ADVICE

The Service does not provide investment, legal, tax, or accounting advice. Nothing shown through the Service — including ratings, AI-generated analyses, screener outputs, backtest results, or portfolio suggestions — is a recommendation to buy, sell, or hold any security, or to adopt any investment strategy. We are not an investment adviser, broker-dealer, or financial planner. We have no fiduciary or advisory relationship with you.

You are solely responsible for your investment decisions. Consult a licensed financial adviser in your jurisdiction before acting on anything shown on the Service. Past performance, including backtested performance, is not a guarantee of future results. Investing involves substantial risk, including total loss of principal.

Jurisdictional notices:

• United States: We are not a Registered Investment Adviser under the Investment Advisers Act of 1940 or a broker-dealer under the Securities Exchange Act of 1934.
• European Union / EEA: The Service does not constitute investment advice under MiFID II (Directive 2014/65/EU, Art. 4(1)(4)).
• United Kingdom: The Service is not a regulated activity under the Financial Services and Markets Act 2000.
• Poland: Serwis nie stanowi usługi doradztwa inwestycyjnego w rozumieniu ustawy z dnia 29 lipca 2005 r. o obrocie instrumentami finansowymi.

3. AI outputs may be wrong

Portions of the Service use large-language-model ("LLM") technology licensed from third parties (currently Anthropic) to generate written analysis. You must understand:

• AI outputs are probabilistic and may change between runs.
• They may be inaccurate, incomplete, outdated, or "hallucinated" — confidently stated but entirely fabricated.
• They may cite figures, filings, or quotations that do not exist.
• They do not constitute a second opinion by a qualified human.

Verify every factual claim against primary sources (SEC filings, official price feeds, your broker) before acting on it. If AI output contradicts a primary source, trust the primary source.

4. Data limitations

The Service uses data from third-party providers (Financial Modeling Prep, Finnhub, FRED, and others). We do not audit or verify this data — it may be delayed, incomplete, revised, or incorrect. Prices shown may not match what you can actually execute. Historical data and backtests may carry survivorship, look-ahead, or other methodological biases; our engine makes best-effort adjustments but cannot eliminate them.

5. Eligibility and account

You must be at least 18 and legally permitted to enter into contracts under your local law. You are responsible for the accuracy of your account information and the confidentiality of your credentials. You are responsible for all activity under your account. We may refuse, suspend, or terminate any account at our sole discretion.

6. Plans and usage limits

The Service is offered on free and paid plans. Usage limits include, without limitation:

| Plan | AI evaluations / month | |------|------------------------| | Free | 1 | | Pro | 10 |

Limits reset at 00:00 UTC on the first day of each calendar month. Unused allowance does not roll over. We may change plan features, limits, or pricing at any time with reasonable advance notice; continued use after the change constitutes acceptance.

Paid plans are billed in advance through our payment sub-processor (Stripe or equivalent). Fees are non-refundable except where required by law. You may cancel at any time from your account settings; cancellation takes effect at the end of the current billing period.

7. Acceptable use

You agree not to, and not to allow any third party to:

• use the Service for any unlawful purpose or in violation of securities, financial, tax, export-control, or anti-money-laundering law;
• scrape, crawl, copy, or systematically download any portion of the Service except as expressly permitted by our API and your plan;
• reverse-engineer, decompile, or attempt to derive the source, models, or prompts underlying the Service;
• resell, sublicense, or redistribute Service outputs to third parties without our prior written consent;
• use outputs to train a machine-learning model that competes with the Service;
• interfere with the Service, bypass rate limits or quotas, or introduce malware;
• use the Service to provide regulated financial services to third parties unless duly licensed and authorized by us in writing.

8. Your content and our IP

You retain rights to any content you submit ("Your Content"). You grant us a worldwide, non-exclusive, royalty-free license to host, process, and display Your Content solely to operate the Service. We will not sell Your Content.

The Service — software, models, prompts, methodologies, ratings (including "Tessera Rating"), published content, logos, and designs — is owned by us or our licensors. You get a limited, non-exclusive, non-transferable, revocable license to use the Service for your personal or internal business purposes under these Terms. All other rights are reserved.

9. Third-party services

The Service incorporates data and services from third parties (Clerk, Financial Modeling Prep, Finnhub, Anthropic, Stripe, our hosting provider, and others). We do not control or guarantee their accuracy, availability, or acts. Each is subject to its own terms and privacy policy.

10. DISCLAIMER OF WARRANTIES

The Service is provided "AS IS" and "AS AVAILABLE" without warranty of any kind, whether express, implied, or statutory, to the maximum extent permitted by law. We disclaim all implied warranties of merchantability, fitness for a particular purpose, title, non-infringement, and any warranty arising from course of dealing or usage of trade. We do not warrant that the Service will be uninterrupted, secure, or error-free, or that any data or AI output will be accurate, complete, or current. You use the Service at your own risk.

11. LIMITATION OF LIABILITY

To the maximum extent permitted by law:

(a) We will not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or for any loss of profits, revenue, investment returns, trading losses, data, goodwill, or opportunity, whether based on contract, tort, or any other theory.

(b) Our aggregate liability to you for all claims arising out of or related to the Service will not exceed the greater of (i) the total fees you paid us in the twelve months preceding the event giving rise to the claim, or (ii) one hundred U.S. dollars (US$100).

(c) We have no liability whatsoever for losses arising from your investment, trading, or other financial decisions, whether or not informed by the Service.

Some jurisdictions do not allow certain of these limitations; in those jurisdictions, our liability is limited to the maximum extent permitted by law.

12. Indemnification

You agree to defend and indemnify us and our agents against any claims, damages, or expenses (including reasonable attorneys' fees) arising from: (a) your use of the Service; (b) your violation of these Terms; (c) your violation of any law or third-party right; or (d) any investment or financial decision you make in connection with the Service.

13. Suspension and termination

We may suspend or terminate your access at any time if we believe you have breached these Terms, if your account is used for unlawful purposes, or if continued access would create legal or security risk. You may terminate your account from your settings at any time. Sections 2 through 15 survive termination.

14. Governing law and disputes

These Terms are governed by the laws of the Republic of Poland, without regard to conflict-of-laws rules. Subject to the consumer carve-out below, the courts of Poland have exclusive jurisdiction over any dispute.

Consumer carve-out (EU / EEA): If you are a consumer residing in the EEA or UK, nothing here deprives you of mandatory consumer-protection rights under your local law; you may bring proceedings in the courts of your country of residence where such mandatory rules so permit.

ODR: EU consumers may use the European Commission's ODR platform at ec.europa.eu/consumers/odr.

Individual claims only. Claims may be brought only in an individual capacity, not as part of any class, collective, or representative proceeding, to the maximum extent permitted by law.

Time limit. Claims must be filed within two years of the cause of action, except where a longer period is mandatory under your local consumer law.

15. Changes and miscellaneous

We may update these Terms. Material changes will be notified by email or in-app at least 14 days before taking effect. Continued use after the effective date constitutes acceptance. We record each user's acceptance of specific versions.

Entire agreement. These Terms and the Privacy Policy are the entire agreement between you and us regarding the Service.

Severability. If any provision is unenforceable, the rest continues in force.

Assignment. You may not assign these Terms without our consent. We may assign freely, including in a merger or asset sale.

Notices. We may notify you via the email on your account. You may notify us at support.tessera.alpha@gmail.com.

Force majeure. Neither party is liable for delays caused by events beyond reasonable control.

Language. Drafted in English; any translation is for convenience only.

Contact

Questions: support.tessera.alpha@gmail.com Operator: Artem Derevets (Poland)

By using the Service, you acknowledge that you have read, understood, and agreed to every section above, including Sections 2–4 (not investment advice, AI outputs may be wrong, data limitations), Section 10 (no warranties), Section 11 (limitation of liability), and Section 14 (governing law and dispute resolution).