Terms and Conditions

1. 1. The following terms and conditions form the sole and exclusive basis for the legal relationship between MathFinance AG (hereinafter referred to as “MathFinance”) and its customers. Any terms and conditions of customers shall not become part of the contract. They are hereby expressly rejected.

Article 2: Conclusion of contract

Article 3: Shipping and delivery

1. 1. Unless otherwise agreed, the ordered goods are delivered from the MathFinance warehouse to the delivery address specified by the customer.
   2. Information provided by MathFinance about the availability, shipping or delivery of an ordered product merely represents estimated information and approximate values. It does not provide the basis for a binding or guaranteed shipping or delivery date unless a date in the order acceptance from MathFinance is expressly specified as a binding date.
   3. Should MathFinance discover after sending the order acceptance that the goods ordered by the customer are not available, MathFinance will immediately inform the customer thereof. Should MathFinance not be in a position to deliver the ordered goods without any fault on its part, MathFinance has the right to withdraw from the respective contract that had been concluded with the customer. The statutory rights of the customer remain unaffected.
   4. Where a delivery to the customer is not possible because the customer cannot be found at the delivery address specified by the customer, even though the customer was given sufficient notice of the delivery time, the customer bears the cost of the unsuccessful delivery.

Article 4: Special provisions for the booking of events

1. 1. MathFinance maintains the right to replace announced speakers with others and to make necessary changes to the event programme while maintaining the overall character of the event.
   2. If MathFinance is unable to carry out the event due to force majeure, due to the fact that the speaker is unable to be present, disturbances at the event location or too few participants, MathFinance has the right to cancel the event. The cancellation of an event due to too few participants must take place no later than a week before the start of the event. In the event of a cancellation the event fees will be reimbursed. Claims for the refund of travel and accommodation costs or for loss of working hours are exclude unless the customer bears such costs due to gross negligence or deliberate act on the part of MathFinance.
   3. The customer has the right at any time to cancel a booked event, whereby the cancellation is to be sent in text form (letter, email or fax) to the address or email address specified under article 10 (3).
   4. In the event of a cancellation of up to 1 week before the start of the event 10% of the participation fee will fall due. If the cancellation is made later, the total participation fee becomes due. In order to avoid unnecessary cancellation fees the customer has the right to name an alternative participant for the booked event without incurring additional costs.

Article 5: Prices, due date, offsetting payments

1. 1. The prices provided by MathFinance for the ordered goods or other service are final prices and are inclusive of the respective value-added tax.

1. 1.  MathFinance charges the flat shipping charges specified on the occasion of ordering for the delivery of goods.
   2. The contractually agreed compensation is due upon receipt of the order acceptance from MathFinance and is to be paid by the customer in advance to the following bank account under specification of the order number provided in the order acceptance:

When paying by cash transfer, the payment is effective only when it has been received by MathFinance, or in the case of a cheque when it has been cleared by the drawee bank. MathFinance does not assume any liability in the event of a loss before receipt by MathFinance.

The delivery of the ordered goods takes place only after MathFinance has received full payment.

1. 1. If the customer is in default of payment, MathFinance is entitled to demand a default interest of 5 percentage points above the base interest rate (article 247, section 1 of the German Civil Code – BGB). If MathFinance can prove greater damage due to delay, this can be asserted under general statutory provisions.
   2. The customer is entitled to offset payment only if their counter-claims are recognised by declaratory judgment or are not disputed by MathFinance. In addition, the customer is only entitled to exercise a right of retention in so far as their counter-claim is based on the same contractual relationship.

Article 6: Copyrights

1. 1. All written work, studies, work documents and software available from MathFinance is copyright protected and proprietary to MathFinance.
   2. The acquisition of individual copies does not give the customer the right to reproduce them or make them accessible via the Internet or publicly perform them in any other way – neither in full nor in parts or in a processed or translated form.

 Article 7: Reservation

of title Delivered goods remain the property of MathFinance until the receipt of the full purchase price by MathFinance.

Article 8: Warranty and liability

1. 1. If goods delivered by MathFinance are defective, the customer is entitled to assert their statutory warranty rights.
   2.  Where the customer is an entrepreneur, the warranty period is one year from the date of delivery.
   3. MathFinance is only liable for slight negligence, if a contractual obligation that is essential to achieving the purpose of the contract (i.e. obligations that a customer should be able to rely on, and that have to be fulfilled to enable the proper processing of the contract) is violated by MathFinance, its legal representatives, managers or agents. MathFinance is also liable toward consumers in the event of a debtor’s delay or a reasonable degree of initial impossibility on the part of MathFinance. Otherwise, MathFinance is only liable if MathFinance, its legal representatives, managers or agents have acted with intent or gross negligence.
   4. The above limitation of liability does not apply to claims for damages that result from injury to life, body, health or a quality guarantee or the deceitful concealment of defects by MathFinance.
   5. As far as MathFinance is liable for slight negligence under item (3), the claims for damages will be limited to predictable losses typical of the contract concerned. Liability for the compensation of indirect damage, particularly for loss of earnings, exists only where there is intent or gross negligence by legal representatives, managers or other agents of MathFinance.

Article 9: Data collection, data processing

1. 1. MathFinance stores personal data about the customer that is collected within the scope of the conclusion of the contract with automatic data processing.
   2. MathFinance will collect, process, store and otherwise use the personal data collected during the conclusion of the contract only for the purpose of and in connection with the carrying out and fulfilment of the contract and the recording, processing and billing of the order or booking. You can obtain details about data that is collected and stored by MathFinance from the MathFinance Terms of Privacy, which you can view on the MathFinance web site by scrolling down.
   3. All customer data is treated in confidence. The data is not passed on for marketing purposes without the consent of the customer.
   4. The customer may revoke their consent to data processing at any time with effect from that time forwards. The customer also has the right to view his personal data stored by MathFinance at any time and free of charge.

Article 10: Instructions on the right of revocation for consumers

Right of revocation

1. 1. If the customer is a consumer, he may withdraw from the contract agreement in text form (e.g. letter, fax, email) within 14 days or – if the product has been sent to the customer before the expiry of this period – by sending back the product.
   2. The revocation period commences upon receipt of these instructions in text form, however, not before receipt of the goods by the customer (in the case of recurring deliveries of goods of the same kind, not before the day on which the first part delivery reaches the receiver) and also not before we have performed our duties to provide information under article 246 § 2 in conjunction with § 1, subsections 1 and 2 of the Introductory Act to the German Civil Code (EGBGB) and our duties under section 312e, subsection 1, first sentence of the German Civil Code (BGB) in conjunction with article 246 § 3 of the Introductory Act to the German Civil Code (EGBGB).
   3. To meet the revocation deadline it is sufficient to dispatch the declaration of revocation or the received goods in time.

Special note:

In the case of contracts related to a service, such as the participation in seminars, lectures or conferences, the right of revocation is excluded if the contract was performed in full at the express wish of the customer before the customer exercised his right of revocation.

Revocation by returning the goods is to be addressed to:

MathFinance AG, Kaiserstraße 50, 60329 Frankfurt.

Declarations of revocation in text form are also to be sent to the above address or the following email address: info@mathfinance.com

Consequences of revocation:

4. In the event of a valid revocation, the mutually received services have to be returned and any benefit thereof (such as interest) has to be returned. If you are not able to return the received service either partly or in full, or only in a deteriorated condition, you may be obliged to pay compensation for lost value. This does not apply if the deterioration of goods is exclusively due to their having been inspected by the customer, as the customer might have done in a shop. Apart from that, the customer may avoid the obligation to pay compensation for lost value for any deterioration caused by the use of the goods in accordance with their purpose (i.e., utilisation only for the purpose for which the goods have been made and have been intended to be used) if the customer does not use the goods like his own property and refrains from doing anything that impairs their value.Goods that can be sent by parcel post are returned at the risk of MathFinance, while the customer bears the cost of the return if the delivered goods match what was ordered and if the price of the goods to be sent back does not exceed EUR 40 or if the customer has not yet paid the full consideration or a contractually agreed part payment at the time of revocation in the event of there being a higher price for the goods. Otherwise the return is free of charge for the customer. Goods that cannot be sent by parcel post are to be picked up from the customer. Obligations to refund payments have to be fulfilled by the customer within 30 days. The term for the customer commences upon the sending of the declaration of revocation or dispatch of the goods, and for MathFinance upon receipt.End of the instructions on the right of revocation for consumers

5. The right of revocation in accordance with the previous provisions does not exist for distance selling contracts

– for the supply of goods produced according to customer specifications or clearly tailored to personal needs of the customer or which, by reason of their quality are not suitable for return or may spoil quickly or whose expiration date would be exceeded

– for the delivery of audio or video recordings or of software where the seal on the data carriers has been broken by the consumer or

– for the delivery of newspapers, periodicals and magazines.

Article 11: Final Provisions

1. 1. The place of fulfilment is Frankfurt am Main.
   2. Where the customer is an entrepreneur, Frankfurt am Main is the exclusive place of jurisdiction.
   3. Should individual provisions in these terms and conditions be or become invalid, the validity of the other provisions is not thereby affected. In place of the invalid provision, a substitute regulation that will approximate the purpose of the invalid regulation as closely as possible and is legally sound is to be agreed on.
   4. The contractual relationship between MathFinance and the customer are subject to the laws of the Federal Republic of Germany excluding the UN Sales Convention (CISG).

October 2010

Privacy Policy of MathFinance AG

Data protection and data security are of paramount importance to us in all of our business processes. Your data will be treated in complete confidence and protected within the scope of legal requirements.

Data protection when accessing the online offers of MathFinance AG

When ordering goods or taking up services from MathFinance AG, personal data such as title, first name, surname, address, post code, location, email address, connection information (e.g. IP address) and telephone number is collected in order to ensure the proper management of the user relationship. In addition, for statistical purposes the MathFinance servers automatically and temporarily log certain data that is sent by your Web browser when visiting a Web site. This data could include your IP address, type of browser, browser language and the data and duration of your browser query. MathFinance AG also sometimes uses cookies, which are small text files that allow certain areas of Web sites to remember your details for next time. Cookies can also help to adapt offers to your interests.

Data processing when using services provided by MathFinance AG

1. 1. MathFinance AG automatically stores personal data that it collects.
   2. Data collection and data processing is only carried out in order to meet the contractual obligations. MathFinance AG will only collect, process, store and otherwise use the personal data collected during the conclusion of the contract for the purpose of and in connection with the carrying out and fulfilment of the contract and the recording, processing (user data) and billing (billing data) of the order or booking.
   3. Billing for MathFinance AG services can take place via third parties. These providers collect, store and process your user data to identify and invoice for the services you have used.
   4. The data is treated as confidential. It is not passed on for marketing purposes without your prior consent.
   5. You may revoke your consent for the collection, processing, storing and passing on of your data at any time with effect from that time onwards. You also have the right to demand to see your personal or company data at any time without charge.
   6. Your stored personal data will be deleted if you revoke your consent, provided the data concerned are no longer required for the purpose for which it was stored, or if the data storage is not allowed for other legal reasons.

      Data processing when opening a customer account and for contract processing

      Pursuant to Art. 6 Para. 1 lit. b DSGVO, personal data will continue to be collected and processed if you provide it to us for the execution of a contract or when opening a customer account. Which data is collected can be seen from the respective input forms. A deletion of your customer account is possible at any time and can be done by sending a message to the above address of the responsible person. We store and use the data provided by you for contract processing. After complete completion of the contract or deletion of your customer account, your data will be blocked with regard to tax and commercial retention periods and deleted after these periods, unless you have expressly consented to further use of your data or a legally permitted further use of data from our side was reserved.

      Data processing for order processing

      In order to process your order, we work together with the following service provider(s), who support us in whole or in part in the execution of concluded contracts. Certain personal data will be transmitted to these service providers in accordance with the following information.
      The personal data collected by us are passed on to the transport company commissioned with the delivery within the framework of contract processing, insofar as this is necessary for the delivery of the goods. We pass on your payment data to the commissioned credit institution within the scope of payment processing, insofar as this is necessary for payment processing. If payment service providers are used, we will inform you explicitly below. Legal basis for the passing on of the data is art. 6 Abs. 1 lit. b DSGVO.

      Use of payment service providers (payment services)

       

      Paypal
      When paying via PayPal, credit card via PayPal, direct debit via PayPal or – if offered – “purchase on account” or “payment by instalments” via PayPal, we pass on your payment details to PayPal (Europe) S.a.r.l. et Cie, S.C.A., 22-24 Boulevard Royal, L-2449 Luxembourg (hereinafter referred to as “PayPal”) within the framework of the payment processing. The transfer takes place in accordance with Art. 6 Para. 1 lit. b DSGVO and only insofar as this is necessary for payment processing.
      PayPal reserves the right to carry out a credit check for the payment methods credit card via PayPal, direct debit via PayPal or – if offered – “purchase on account” or “instalment payment” via PayPal. For this purpose, your payment data may be passed on to credit agencies in accordance with Art. 6 Para. 1 lit. f DSGVO on the basis of PayPal’s legitimate interest in determining your solvency. PayPal uses the result of the credit assessment with regard to the statistical probability of non-payment for the purpose of deciding on the provision of the respective payment method. The credit report can contain probability values (so-called score values). If score values are included in the result of the credit report, they have their basis in a scientifically recognized mathematical-statistical procedure. Address data, among other things but not exclusively, is included in the calculation of the score values. Please refer to PayPal’s data protection declaration for further information on data protection law, including the credit agencies used: https://www.paypal.com/de/webapps/mpp/ua/privacy-full
      You can object to this processing of your data at any time by sending a message to PayPal. However, PayPal may still be entitled to process your personal data if this is necessary to process your payment in accordance with the contract.

      Stripe

      Stripe has certain data processing activities for which it acts as data controller and others for which it acts as data processor. A good example of this dual role is the processing of credit card transactions by Stripe. Facilitating a transaction requires the processing of personal data such as cardholder name, credit card number, credit card expiration date and CVC code. The cardholder’s data is sent to Stripe by the Stripe user via the Stripe API (or another integration method, such as Stripe Elements). Stripe then uses the data to complete the transaction within credit card network systems, which is a function that Stripe performs as a data processor. However, Stripe also uses the data to fulfill its legal obligations (such as Know Your Customer (“KYC”) and Anti Money Laundering (“AML”), and in this role Stripe is a data controller.

      Without sector-specific regulations for certain industries to which Stripe is not subject, there is no obligation under EU data protection law to locate personal data in the European Union. This means that personal data of EU citizens may be transferred to other jurisdictions, provided that such transfer takes place using the appropriate international data transfer mechanisms.

      Stripe relies on the EU-U.S. and Swiss-U.S. Privacy Shield for the transmission of personal data of EU and Swiss persons. You can find the certification at https://www.privacyshield.gov/participant?id=a2zt0000000TQOUAA4&status=Active Your data protection regulations can be found here: https://stripe.com/privacy-shield-policy.