Licence terms

1. Parties and acceptance

These terms are an agreement between SmallTrade Limited, a company registered in England and Wales with company number 08492769 ("we", "us"), and you. If you use SCR Calculator for an organisation, "you" also means that organisation, and you confirm that you may accept these terms for it.

"The software" means the SCR Calculator desktop application, its command line (scrcalc), its Python package, their updates, and the documentation, templates and workbooks we supply with them. By installing, signing in to or using the software you accept these terms. If your organisation has signed a separate agreement with us, that agreement takes precedence where it differs.

2. The licence

We grant you a non-exclusive, non-transferable licence to use the software for the period and the purposes of your plan, on the number of devices your plan allows. Your plan is the one shown on your account page and in the app. We grant no other rights.

3. Licence types

Enterprise

For an organisation. Its employees, and contractors working for it, may use the software for the organisation's business when they sign in with an account of the organisation's Microsoft tenant or of one of its verified email domains. The organisation is responsible for their use of the software, and contractors may not use the organisation's licence for anyone else's business. Enterprise licences include server licences for automated use on servers and in pipelines, which we issue on request.

Professional

For named users. Each seat belongs to one person and may not be shared or used by anyone else. The licence holder may reassign a seat to another person at most once a month.

Academic

For teaching and non-commercial research at an accredited university or college, for 12 months at a time, after we have verified your application. It may not be used for consulting, for commercial research or for work paid for or directed by a business. Outputs carry an academic label, which you must not remove or hide.

Evaluation

For 30 days, to assess whether the software suits you. It is not for production use: do not use its outputs in regulatory reporting, in work for clients or as the basis of business decisions. Outputs carry an evaluation label.

Learning

For personal, non-commercial use only, such as learning about solvency regimes, with the limits shown on the pricing page. Outputs carry a learning label, which you must not remove or hide.

4. What you may not do

• Circumvent, disable or interfere with the licence checks, licence files, device limits, labels or any other technical protection of the software, or help anyone else to do so.
• Reverse engineer, decompile or disassemble the software, except to the extent that the law allows it despite this restriction.
• Sell, rent, lend, sublicense or distribute the software, or use it to provide calculations as a service to others (a service bureau or hosted service), without our written agreement.
• Share your account, your seat or a licence file with anyone else.

5. Signing in, offline use and devices

The software checks your licence when you sign in with your Microsoft account and from time to time while you use it. A licence it has received keeps working without an internet connection for a grace period of 14 days, or until the end of your licence if that is sooner; after that the software needs to connect to check again. You are responsible for keeping your Microsoft account secure.

Each user may use the software on the number of devices their plan allows. You can release a device on your account page to use another one. Server licences are tied to an Enterprise licence and expire after at most 90 days unless we issue a new one.

6. Market data

Version 2 of the software supplies no market data. You provide the market data you use, and you are responsible for having the right to use it, including data from terminals such as Bloomberg's, whose own terms apply to it. The Bloomberg downloader template we supply is a convenience; using it does not give you any right to Bloomberg data.

7. Results are not advice

The software is a calculation tool. Its results are not regulatory, actuarial, legal, accounting or investment advice. They depend on the inputs, market data and options you choose, and on our interpretation of each regulation, which we describe in the methodology documents. You are responsible for checking the results and for any use you make of them, including in reports to regulators. Our methodology and validation documents are provided for information, to help your own review; they do not replace it.

8. Updates and support

We may release updates, for example to follow changes in regulations or to fix errors. Some updates may be needed for the licence check to keep working. We aim to reflect regulatory changes promptly but do not promise a date. We provide support by email on working days, with reasonable efforts.

9. Fees and payment

Enterprise and Professional licences are charged at the fees in our quotation or invoice. We invoice in advance for the licence period; you pay by bank transfer within the payment terms on the invoice. Fees exclude VAT, which is added where it applies. If an invoice is overdue we may suspend the licence after telling you, until it is paid. Academic, Evaluation and Learning licences are free.

10. Term, renewal and termination

Each licence runs for the period shown on your account page. Paid licences renew when we agree a renewal and issue a new invoice. Either of us may end a paid licence if the other materially breaches these terms and does not put it right within 30 days of being told, or at once if the breach cannot be put right. We may block an account that is used in breach of these terms. When a licence ends you must stop using the software under it; outputs you made while the licence was valid remain yours.

11. Version 1

Version 1 of SCR Calculator reaches the end of its life on 31 March 2027. Version 1 licences continue until then; after that date version 1 no longer signs in or receives data. Move to version 2 before then.

12. Ownership

We, or our licensors, own the software and all intellectual property in it. You own your inputs and the outputs you create with it.

13. Warranty and liability

We supply the software with reasonable skill and care. Software of this kind cannot be guaranteed to be free of errors, and we do not promise that it will meet every requirement you have or run without interruption. If you are a consumer, your statutory rights are not affected.

Nothing in these terms limits liability for death or personal injury caused by negligence, for fraud, or for anything else the law does not allow to be limited. Subject to that, we are not liable for indirect or consequential loss, or for loss of profit, revenue, business, goodwill or data, however it arises; and our total liability to you in each year of a licence is limited to the fees you paid us for the software in the 12 months before the event giving rise to the claim, or £100 for free licences.

14. Data protection

How we handle personal data is set out in our privacy policy. Your portfolio data stays on your computer.

15. General

These terms, with any quotation or separate agreement for your licence, are the whole agreement between us about the software. We may change these terms for future licence periods and will publish the new version here with its date. You may not transfer your licence without our consent. If any part of these terms is found unenforceable, the rest remains in force. If we do not enforce a right straight away, we may still enforce it later. No one other than you and us has rights under these terms.

16. Governing law

These terms are governed by the law of England and Wales, and the courts of England and Wales have exclusive jurisdiction over any dispute about them.