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TERMS AND CONDITIONS OF USE

Hapoalim Securities reserves the right, in its sole discretion, without any obligation and without any notice requirement, to change, improve or correct the information, materials and descriptions on this Web Site and to suspend and/or deny access to this Web Site for scheduled or unscheduled maintenance, upgrades, improvement or corrections or for any other reason whatsoever.  The information and materials on this Web Site may contain typographical errors or inaccuracies.  Any dated information is published as of its date only, and Hapoalim Securities does not undertake any obligation or responsibility to update or amend any such information.

Proprietary Rights
This Web Site, along with any and all content contained in this Web Site (including, without limitation, press releases, research publications, etc.) is the copyrighted work of Hapoalim Securities and/or its affiliates or suppliers and is protected under United States and worldwide copyright laws and treaty provisions.  The trademarks, service marks, brands and names on this Web Site are the property of Hapoalim Securities or its affiliates or suppliers. Unless otherwise stated, copyright or similar rights in all material presented, including graphical images, are the property of Hapoalim Securities.  No action that may directly or indirectly infringe the property rights of Hapoalim Securities is permitted. 

Unless otherwise stated, this Web Site is for your personal and non-commercial use only.  In no event are you allowed to insert changes, reproduce, copy, distribute, transmit, broadcast, display, perform, advertise, or sell any information, item, software or services provided on this Web Site. You may however print out paper copies of information on this Web Site for your personal use.
 
Disclaimer of Warranties
The material accessible from or on this Web Site (including information, software, etc.), whether provided by Hapoalim Securities or by any third party, is provided “as is” and Hapoalim Securities expressly disclaims any implied or express warranties or conditions of any kind, including warranties of merchantability or fitness for a particular purpose.  Although Hapoalim Securities has attempted to provide accurate information on this Web Site as a service to its users, Hapoalim Securities assumes no responsibility for, and makes no representations with respect to, the accuracy, timeliness or completeness of the information.  Hapoalim Securities hereby disclaims any warranty, express or implied, and shall not be liable for damages resulting from or relating to the quality, accuracy, timeliness, completeness, performance, or fitness for a particular purpose of the Web Site or any of its contents, including, but not limited to, any financial tools contained within the Web Site.  Hapoalim Securities makes no warranty that the contents of this Web Site are free from infection by viruses or anything else which has contaminating or destructive properties.  The user is fully responsible for protecting his/her/its system from being infected by viruses.  Hapoalim Securities also makes no warranty to you, express or implied, regarding the security of the Web Site, including with respect to the ability of unauthorized persons to intercept or access information transmitted by you through this service.

Limitation of Liability
In no event shall Hapoalim Securities be liable for any damages whatsoever arising in contract, tort or other from the use or inability to use the Web Site, including, without limitation, fault or malfunction in the software that operates this Web Site or the access to it.  Hapoalim Securities shall have no liability, contingent or otherwise, to you or to third parties, or any responsibility whatsoever, for the failure of any connection or communication service to provide or maintain your access to the Web Site, or for any interruption or disruption of such access or any erroneous communication between Hapoalim Securities and you.  In no event shall Hapoalim Securities be liable for any damages whatsoever, including (without limitation) special, indirect, consequential or incidental damages, loss of profits or revenues or cost of replacement goods, including, without limitation, damages resulting from use of or reliance on the information presented. 
 
No Solicitation
The information contained in this Web Site has been prepared for informational purposes only without regard to any particular user’s investment objectives, financial situation, or means and Hapoalim Securities is not soliciting any action based upon it.  Neither the information contained in this Web Site nor any material accessible from it, constitutes or is to be construed as a recommendation, an offer to buy or sell or the solicitation of an offer to buy or sell, any security, future, option or other financial product or instrument.  The contents of the Web Site do not constitute advice and should not be relied upon in making, or refraining from making, any decision.  Certain transactions give rise to substantial risk and are not suitable for all investors.  The information and services provided on this Web Site are not provided to and may not be used by any person or entity in any jurisdiction where the provision or use thereof would be contrary to applicable laws, rules or regulations of any governmental authority or regulatory or self-regulatory organization or clearing organization or where Hapoalim Securities is not authorized to provide such information or services.
 
Links to Other Sites
At times this Web Site may contain links to Web Sites maintained by other companies, individuals or agencies which are provided as a convenience to Hapoalim Securities’ Web Site users. These linked sites are not under the control of Hapoalim Securities, and Hapoalim Securities is not responsible for the accuracy of information on such sites, including those of its affiliates.  Hapoalim Securities does not monitor or review the content of such third party sites and therefore advises you that your access by link to third-party sites is at your own risk.
 
Privacy
Your use of the products and services on this Web Site may be monitored by Hapoalim Securities.  The characteristics of your use of this Web Site may be stored and analyzed by Hapoalim Securities for its own purposes in the normal course of Hapoalim Securities’ business.  Information accessed or processed through this Web Site may be transferred through various countries around the world.

Choice of Law
These Terms and Conditions of Use shall be governed by and construed in accordance with the law of the State of New York applicable to agreements made and to be performed in New York.  Sole and exclusive jurisdiction for any action or proceeding arising out of or related to these Terms and Conditions of Use or the Web Site shall be in an appropriate state or federal court located in the County of New York, State of New York and the parties unconditionally waive their respective rights to a jury trial.  If for any reason a court of competent jurisdiction finds any provision of these Terms and Conditions of Use, or a portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to effect the intent of these Terms and Conditions of Use, and the remainder of these Terms and Conditions of Use shall continue in full force and effect.


Hapoalim Securities USA, Inc. (“Hapoalim Securities”), grants you access to Hapoalim Securities’ Web Site provided that the following Terms and Conditions of Use govern your use of Hapoalim Securities’ Web Site and the materials accessible on or from the Web Site.  Please read them carefully before entering the Web Site, and refer to them as necessary as you explore Hapoalim Securities’ Web Site. Your use of the Web Site means that you accept the Terms and Conditions.  Hapoalim Securities may revise these Terms and Conditions at any time, without notice. Users are responsible for reviewing this page from time to time to ensure compliance.
 
If you do not agree with these Terms and Conditions, please do not visit or use Hapoalim Securities’ Web Site.
 
General Information
By using this Web Site, you agree that you will use the Web Site and all materials and services accessible from or provided through the Web Site, in a manner consistent with applicable laws and regulations and these Terms and Conditions of Use.  In addition to these Terms and Conditions of Use, there may be specific terms and conditions applicable to certain features or aspects of this Web Site which are part of an agreement requesting that service. In the event of any conflict between these Terms and Conditions of Use and any specific agreement between you and Hapoalim Securities, the terms and conditions of such specific agreement shall prevail.

Copyright © 2007, Hapoalim Securities USA, Inc. All Rights Reserved.
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