Terms and Conditions

  1. Introduction

1.1      These terms and conditions govern your use of our website, provided by Global Macro Investor SEZC (hereinafter “GMI”).

1.2      By accessing or using our website, you acknowledge and accept these terms and conditions in full; use of our Site includes accessing, browsing, or registering to use our Site. The information on our Site is for personal, non-commercial use only. By using our Site, or any other products or services of Global Macro Investor, you are indicating that you have read and accepted these Terms and Conditions and the documents referred to below. Accordingly, if you disagree with these terms and conditions or any part of these terms and conditions, you must not use our website.

  1. Entire agreement

2.1.     These Terms and Conditions together with our Privacy and Cookies Policy, Acceptable Use Policy, and signed contract constitute the entire agreement between you and us regarding your use of our website and shall supersede all previous agreements between you and us in relation to your use of our website. Users should review these policies for a comprehensive understanding of the terms.

a) Our Privacy and Cookies Policy,  outlines the collection and use of data, as well as the website’s use of cookies. By using our Site or agreeing to these Terms and Conditions, you consent to such processing and use of cookies, and you warrant that all data provided by you is accurate.

b) Our Acceptable Use Policy (Clause 7) defines permitted and prohibited uses of our Site. When using our Site, you must comply with this Acceptable Use Policy.

  1. Changes to Terms and Conditions of Use

3.1.     These terms of use are subject to change at any time at our discretion. Your use of this Site after changes are implemented acknowledges your acceptance of the changes. Please consult these terms and conditions regularly.

3.2.     The revised terms and conditions shall apply to the use of our website from the date of publication of the revised terms and conditions on the website, and you hereby waive any right you may otherwise have to be notified of, or to consent to, revisions of these terms and conditions.

3.3.     These terms and conditions are available in the English language only.

  1. Copyright notice

4.1.     The Site and all Content are protected by Cayman and International Copyright laws.

4.2.     Subject to the express provisions of these terms and conditions:

(a)      we, together with our licensors, own and control all the copyright and other intellectual property rights in our website and the material on our website; and

(b)      all the copyright and other intellectual property rights in our website and the material on our website are reserved.

(c)       No part of this Site, or its Content, may be copied, downloaded, stored in a retrieval system, further transmitted, or otherwise reproduced, stored, disseminated, transferred, or used, in any form or by any means, except as permitted under these Terms of Use and the GMI SEZC Research Services Agreement or with prior written permission. Each reproduction of any part of this Site or its Content must contain notice of GMI’s copyright.


  1. Trademarks

5.1.     Our name, our logos and our other registered and unregistered trademarks are trademarks belonging to us; we give no permission for the use of these trademarks, and such use may constitute an infringement of our rights.

  1. Licence to use website

6.1.     You may use this Site for purposes expressly permitted by this Site and, if you are a Subscriber, by your GMI SEZC Research Services Agreement You may, subject to the other provisions of these terms and conditions:

(a)      view pages from our website in a web browser;

(b)      download pages for caching in a web browser;

(c)      print pages from our website, provided it’s for your personal use.

6.2.     Except as expressly permitted by Section 6.1. or the other provisions of these terms and conditions, you must not download any material from our website or save any such material to your computer.

6.3.     You may only use our website for your own personal and business purposes, and you must not use our website for any other purposes.

6.4.     Except as expressly permitted by these terms and conditions, you must not edit or otherwise modify any material on our website.

6.5.     Unless you own or control the relevant rights in the material, you must not:

(a)      republish material from our website (including republication on another website);

(b)      sell, rent or sub-license material from our website;

(c)      show any material from our website in public;

(d)      exploit material from our website for a commercial purpose; or

(e)      redistribute material from our website.

6.6.     We reserve the right to restrict access to areas of our website, or indeed our whole website, at our discretion; you must not circumvent or bypass, or attempt to circumvent or bypass, any access restriction measures on our website.

  1. Acceptable use

7.1.     You must not:

(a)      use our website in any way or take any action that causes, or may cause, damage to the website or impairment of the performance, availability or accessibility of the website;

(b)      use our website in any way that is unlawful, illegal, fraudulent or harmful, or in connection with any unlawful, illegal, fraudulent or harmful purpose or activity;

(c)      use our website to copy, store, host, transmit, send, use, publish or distribute any material which consists of (or is linked to) any spyware, computer virus, Trojan horse, worm, keystroke logger, rootkit or other malicious computer software;

(d)      conduct any systematic or automated data collection activities (including without limitation scraping, data mining, data extraction and data harvesting) on or in relation to our website without our express written consent;

(e)      access or otherwise interact with our website using any robot, spider or other automated means;

(g)      use data collected from our website for any direct marketing activity or unsolicited communication (including without limitation email marketing, SMS marketing, telemarketing, and direct mailing).

7.2.     You must not use data collected from our website to contact individuals, companies or other persons or entities.

7.3.     You may not use this Site for any other purpose, including any commercial purpose, without GMI’s express prior written consent. For example, you may not (and may not authorise any other party to) (i) co-brand this site, or (ii) frame this site, or (iii) hyperlink to this site. For purposes of these Terms and Conditions, “co-branding” means to display a name, logo, trademark, or other means of attribution or identification in such a manner as is reasonably likely to give a user the impression that such other party has the right to display, publish, or distribute this Site or content accessible within this Site. You agree to cooperate with GMI in causing any unauthorised co-branding, framing, or hyperlinking immediately to cease.

  1. Use on behalf of organisation

8.1.     If you use our website or expressly agree to these terms and conditions in the course of a business or other organisational project, then by so doing you bind both:

(a)      yourself; and

(b)      the person, company or other legal entity that operates that business or organisational project,

to these terms and conditions, and in these circumstances references to “you” in these terms and conditions are to both the individual user and the relevant person, company or legal entity.

  1. Registration and accounts

9.1.     You may register for an account by providing your details to an authorised representative of GMI.

9.2.     You must not allow others to use your account to access the website.

9.3.     You must notify us immediately if you become aware of any unauthorised use of your account.

9.4.     You must not use any other person’s account to access the website.

  1. User login details

10.1.   If you register, we will initially provide you with a user ID and password, which you may subsequently amend.

10.2.   Your user ID must not be liable to mislead; you must not use your account or user ID for or in connection with the impersonation of any person.

10.3.   You must keep your password confidential.

10.4.   You must notify us in writing immediately if you become aware of any disclosure of your password.

10.5.   You are responsible for any activity on our website arising out of any failure to keep your password confidential and may be held liable for any losses arising out of such a failure.

  1. Cancellation and suspension of account

11.1.   We may suspend, cancel, or edit your account at our discretion without notice or explanation, providing that if we cancel any services you have paid for and you have not breached these terms and conditions, we will refund to you a pro rata amount of your payment, such amount to be calculated by us using any reasonable methodology.

11.2.   You may cancel your account on our website at any time. You will not be entitled to any pro rata refund if you cancel your account before the end of your subscription year.

  1. Subscriptions

12.1.   To become a subscriber to our website services, you must pay the applicable subscription fees during the account registration procedure. We will send you an acknowledgement of your order. The contract between us for the supply of the website services shall come into force upon the issue of the order acknowledgement.

12.2.   You will have the opportunity to identify and correct input errors prior to making your order.

12.3.   For so long as your account and subscription remain active in accordance with these terms and conditions, you will benefit from the features specified in your contract in relation to your subscription type.

12.4.   At the end of any period of subscription for which you have paid, and subject to the other provisions of these terms and conditions, your subscription will be automatically renewed, and you must pay to us the applicable subscription fees, unless you cancel the subscription by email one month in advance of the end of the contracted period.

  1. Fees

13.1.   You must pay the fees in respect of our website services in advance, in cleared funds, in accordance with the contract and invoice, which will be emailed to you.

13.2.   If you owe us any amount under or relating to these terms and conditions, we may suspend or withdraw the provision of services to you.

  1. Investments and investment decisions

14.1.   No content provided by GMI as part of the Service, whether contained in the GMI publication, newsletter, any podcast, video, this website or otherwise, constitutes or is intended to constitute:

(a)      a financial promotion, an advertisement for any particular investment or investment business, or an invitation or inducement to engage in investment activity;

(b)      investment, tax, or legal advice, including but not limited to advice on the merits of buying, selling, subscribing for, underwriting or exercising rights in relation to a particular security, digital asset, or investment of any kind;

(d)     any financial service or activity regulated or controlled by or pursuant to the Monetary Authority of the Cayman Islands or any other applicable law.

14.2.   To the extent information obtained through the Site or the Site Content may be deemed to be investment advice, such information is impersonal and not adapted to any particular client, investor, group, or investment programme. You acknowledge that information obtained through the Site, or the Site Content is not tailored for you or any specific person and should never be used as a substitute for professional financial advice.

14.3.   You should take professional financial advice in connection with, or independently research and verify, any information that you find on our website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Should you take any such action or decision based on information in the Site or the Site Content, you do so entirely at your own risk. Global Macro Investor, and its contributors shall not be responsible or liable for the accuracy, usefulness or availability of any information transmitted or made available via the Site or the Site Content, and shall not be responsible or liable for any trading or investment decisions made based on such information. The views, thoughts, and opinions expressed by the individuals featured on the Site or in the Site Content are their own and do not necessarily reflect the views or opinions of Global Macro Investor.

14.4.  Past performance is not indicative of future results. Investments and strategies described on the Site and Site Content are speculative and involve significant risk. There is no guarantee that any strategy, investment, or investment model discussed will be successful and actual results may differ substantially from any projections. Every investment has the potential for loss as well as profit.

14.5.   We are not regulated under UK financial services law.

  1. Intellectual Property Rights

15.1.   We own or have permission to use all intellectual property rights on our Site and the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved.

15.2.   The material and content accessible from this site, accessible via the Subscriber’s area of the Site, is the proprietary information of GMI or the party that provided the Content to GMI, and GMI or the party that provided the Content to GMI retains all right, title, and interest in the Content.

15.3.   Accordingly, the Content may not be copied, distributed, republished, uploaded, posted, or transmitted in any way without the prior written consent of GMI, except that you may print out a copy of the Content solely for your personal use. In doing so, you may not remove or alter, or cause to be removed or altered, any copyright, trademark, trade name, service mark, or any other proprietary notice or legend appearing on any of the Content. Modification or use of the Content except as expressly provided in these Terms and Conditions and the Global Macro Investor SEZC Research Services Agreement violates GMI’s intellectual property rights. Neither title nor intellectual property rights are transferred to you by access to this Site.

15.4.   We reserve the right to grant or withhold such license in our sole discretion. If you wish to make any use of Content on our Site other than that set out above, please contact amanda@globalmacroinvestor.com.

  1. Hyperlinks and framing

16.1.   This site may hyperlink to other sites which are not maintained by, or related to, GMI. Hyperlinks to such sites are provided as a service to users and are not sponsored by or affiliated with this site or GMI. GMI makes no representations or warranties about the content, completeness or accuracy of these hyperlinks or the sites hyperlinked to this site, or for any loss or damage that may arise from your use of them. If you decide to access any of the third-party websites linked to the Site, you do so entirely at your own risk and subject to the terms and conditions of use for such websites.

16.2.   GMI is concerned with activities such as bringing up or presenting content of this website within another website (“framing”). In this regard, without limiting the provisions contained in the T&Cs, you may not link or frame any Web page from GMI or publication or part-publication except with our express written permission. Further, you may not archive, cache, or mirror any Web page or portions of a Web page on this website. If you would like to use, reprint, frame, or redistribute any of this website’s content other than as permitted herein, you must request written permission from GMI in accordance with Clause 32.

  1. Report abuse

17.1    If you learn of any unlawful material or activity on our website, or any material or activity that breaches these terms and conditions, please let us know.

17.2    You can let us know about any such material or activity by email.

  1. Limited warranties

18.1.   We do not warrant or represent the completeness, accuracy, timeliness, or uninterrupted availability of information on or published on our website;

18.2.   We reserve the right to discontinue or alter any or all of our website services, and to stop publishing our website, at any time in our sole discretion without notice or explanation; and save to the extent expressly provided otherwise in these terms and conditions, you will not be entitled to any compensation or other payment upon the discontinuance or alteration of any website services, or if we stop publishing the website.

  1. Limitations and exclusions of liability

19.1    Nothing in these terms and conditions will:

(a)      limit or exclude any liability for death or personal injury resulting from negligence;

(b)      limit or exclude any liability for fraud or fraudulent misrepresentation;

(c)      limit any liabilities in any way that is not permitted under applicable law; or

(d)      exclude any liabilities that may not be excluded under applicable law.

19.2    The limitations and exclusions of liability set out in this Section 19 and elsewhere in these terms and conditions:

(a)      are subject to Section 19.1; and

(b)      govern all liabilities arising under these terms and conditions or relating to the subject matter of these terms and conditions, including liabilities arising in contract, in tort (including negligence) and for breach of statutory duty, except to the extent expressly provided otherwise in these terms and conditions.

19.3    We will not be liable to you in respect of any losses arising out of any event or events beyond our reasonable control.

19.4    We will not be liable to you in respect of any business losses, including (without limitation) loss of or damage to profits, income, revenue, use, production, anticipated savings, business, contracts, commercial opportunities, or goodwill.

19.5    We will not be liable to you in respect of any loss or corruption of any data, database, or software.

19.6    We will not be liable to you in respect of any special, indirect or consequential loss or damage.

  1. Reasonableness

20.1    By using our website you acknowledge that these terms and conditions are reasonable and fair.

  1. Other parties

21.1.   You accept that, as a limited liability entity, GMI has an interest in limiting the personal liability of our officers and employees and, having regard to that interest, you agree that you will not bring any claim personally against our officers or employees in respect of any losses you suffer in connection with the website or these terms and conditions.

21.2.   To the maximum extent permitted by law, in no event shall GMI, its subsidiaries, affiliates, licensors, service providers, content providers, employees, agents, officers, and directors be liable for any incidental, direct, indirect, punitive, actual, consequential, special, exemplary, or other damages, including loss of revenue or income, pain and suffering, emotional distress, or similar damages, whether or not GMI has been advised of the possibility of such damages. In no event will the collective liability of GMI and its subsidiaries, affiliates, licensors, service providers, content providers, employees, agents, officers, and directors to any party (regardless of the form of action, whether in contract, tort including negligence, or howsoever otherwise) exceed the greater of $100 or the amount paid by you to GMI for the twelve months preceding the services in question.

  1. Disclaimers

22.1    The Content provided on this website is not necessarily complete and up-to-date and should not be used to replace any written reports, statements, or notices provided by GMI. Users, including investors and  borrowers, should use the Content as an educational medium and not as a substitute for their own professional judgment. Information obtained by using this site is not exhaustive and does not cover all issues, topics, or facts that may be relevant to your goals.

22.2.   GMI provides the content and related services “as is” without warranties of any kind, including implied warranties of merchantability, fitness for a particular purpose, title, or non-infringement. GMI does not guarantee that the content or services will be uninterrupted, error-free, or free of viruses or other harmful components. GMI does not warrant or make any representation regarding use, or the result of use, of the content in terms of accuracy, reliability, or otherwise. The content may include technical inaccuracies or typographical errors, and GMI may make changes or improvements at any time. You, and not GMI, assume the entire cost of all necessary servicing, repair, or correction in the event of any loss or damage arising from the use of this site or its content. GMI also disclaims any responsibility for errors or omissions to the content.

22.3.   The information on this site, whether historical or forward-looking, is only accurate as of its posting date  and GMI does not undertake any obligation to update such information after it is posted or to remove such information from this site if it is not, or is no longer, accurate or complete.

  1. Indemnity

23.1.   You hereby indemnify and hold GMI, its affiliates, licensors, content providers, service providers, employees, agents, officers, directors, and contractors (referred to as the “Indemnified Parties”) harmless in the event of any breach of these Terms and Conditions by you and/or any member of your corporate or group membership. This includes any unauthorised use of Content beyond what is expressly allowed in these Terms and Conditions. You agree that the Indemnified Parties bear no liability in connection with any such breach or unauthorised use, and you agree to indemnify them for any and all resulting loss, damages, judgments, awards, costs, expenses, and attorneys’ fees. You will also indemnify and hold the Indemnified Parties harmless from and against any claims brought by third parties arising directly or indirectly out of your use/or any member of your corporate or group membership’s use of the information accessed from this site, as well as any breach by you or any member of your corporate or group membership of any provision of these terms and conditions.

23.2.   “Claims” in this context refers to demands, claims, proceedings, penalties, fines, and liabilities (whether criminal or civil, in contract, tort or otherwise); while “Losses” encompasses various losses, including without limitation financial losses, damages, and legal costs.

  1. Arbitration

24.1.   Any dispute with GMI should first be addressed through informal contact. If not resolved within sixty (60) days, both parties agree to resolve the dispute through binding arbitration. The arbitration will follow the Rules of Arbitration of the Cayman Islands Chamber of Commerce and will be conducted by a single arbitrator. The seat of arbitration will be in the Cayman Islands, with English as the language of arbitration. The arbitrator will apply Cayman Islands law to adjudicate the dispute, disregarding conflict of laws principles. The parties agree that the arbitration proceedings and any related documents, including awards, shall be kept confidential and not disclosed to any third party, except as may be required by law or for the purpose of enforcing or challenging the award. The arbitral award shall be final and binding on the parties. This arbitration clause shall survive the termination or expiration of our agreement with you.

  1. Class action / jury trial waiver

25.1.   All claims must be pursued individually, and not as a plaintiff or class member in any class action, collective action, private attorney general action or other representative proceeding. This waiver applies to class arbitration, and, unless we agree otherwise, the arbitrator may not consolidate more than one person’s claims. You agree that, by entering into this agreement, you and GMI are each waiving the right to a trial by jury or to participate in a class action, collective action, private attorney general action, or other representative proceeding of any kind

  1. Force majeure

26.1.   GMI shall not be liable for any delay or failure to perform its obligations pursuant to the Terms and Conditions of Use if such delay is due to circumstances beyond its reasonable control (“Force Majeure”). If a delay or failure of GMI to perform its obligations is caused or anticipated due to Force Majeure, the performance of GMI’s obligations will be suspended.

  1. Breaches of these terms and conditions

27.1    Without prejudice to our other rights under these terms and conditions, if you breach these terms and conditions in any way, or if we reasonably suspect that you have breached these terms and conditions in any way, we may take such action as we deem appropriate.

27.2.   To address a breach, we may send you one or more formal warnings, suspend your access to our website, or block devices.

27.3.   Where we suspend or prohibit or block your access to our website or a part of our website, you must not take any action to circumvent such suspension or prohibition or blocking.

27.4.   We may bring court proceedings for injunctive relief or claim damages against you for breaching these terms and conditions. 

  1. Assignment

28.1    You hereby agree that we may assign, transfer, sub-contract or otherwise deal with our rights and/or obligations under these terms and conditions.

28.2    You may not without our prior written consent assign, transfer, sub-contract or otherwise deal with any of your rights and/or obligations under these terms and conditions.

  1. Severability

29.1    If any provision of these terms and conditions is, or is found to be, unlawful and/or unenforceable under applicable law, that will not affect the enforceability of the other provisions.

29.2    If any unlawful and/or unenforceable provision of these terms and conditions would be lawful or enforceable if part of it were deleted, that part will be deemed to be deleted, and the rest of the provision will continue in effect. Our election not to enforce (immediately or otherwise) any right or provision of these Terms of Use will not constitute a waiver of such right or provision.

  1. Third party rights

30.1    A contract under these terms and conditions is for our benefit and your benefit and is not intended to benefit or be enforceable by any third party. The contract does not create any rights for any third party.

30.2    The exercise of the parties’ rights under a contract under these terms and conditions is not subject to the consent of any third party.

  1. Law and jurisdiction

31.1    These terms and conditions, its subject matter and its formation are governed by and construed in accordance with Cayman Islands law.

31.2    You and we both agree to that the courts of the Cayman Islands will have exclusive jurisdiction and any disputes will be resolved according to the laws of the Cayman Islands.

  1. Our details

32.1    This website is owned and operated by Global Macro Investor SEZC.

32.2    We are registered in the Cayman Islands; and our registration number is OG-295262 and our registered office is at 190 Elgin Avenue, George Town, Grand Cayman, KY1-9007, Cayman Islands.

32.3    Our principal place of business is at 2nd Floor South Wing, Flagship Building, Harbour Drive, George Town, Grand Cayman, CI.

32.4    You can contact us:

(a)      using our website contact form;

(c)      by email, using the email address published on our website.


20th October 2023