Privacy Policy & Terms and Conditions

INDEX

1.

THE AGREEMENT

2.

OPENING AN ACCOUNT

2.1

Conditions

2.2

Acceptance

2.3

Assessment of Information Provided

2.4

Application Process

2.5

Misuse of Account

2.6

Account Suspension and Closure

3.

YOUR ACCOUNT

4.

DEPOSITING FUNDS

4.1

General

4.2

Cards

4.3

Bank Wire

4.4

NETeller

4.5

Checks & Money Orders

4.6

NETeller

4.7

ACH / e-Check

5..

WITHDRAWING FUNDS

5.1

General

5.2

Bank Wire

5.3

NETeller

5.4

Checks

6.

ANTI-MONEY LAUNDERING PROVISIONS

7.

TRADING

7.1

General

7.2

Trading Hours

7.3

Entering Orders

7.4

Types of Order

7.5

Canceling Orders

7.6

Trades

7.7

Open Positions

7.8

Closing Out Positions

7.9

Contract Expiry

8.

SETTLEMENT

8.1

General

8.2

Variation Margin

8.2.1 - Official Closing Price

8.2.2 - Revaluation Process

8.3

Trade P&L

8.4

Expiry P&L

9.

INITIAL MARGIN

9.1

General

9.2

Margin Rates

10.

MARGIN CALLS

11.

EXCHANGE FEES

12.

GENERAL LEGAL

13.

LIMITATIONS ON EXCHANGE'S LIABILITIES

14.

INDEMNITY

15.

INTELLECTUAL PROPERTY AND RIGHTS TO USE

1.

THE AGREEMENT

1.1

These Rules set out the basis on which Intrade The Prediction Market (the "Exchange", “Market”, “Platform” and the owner and operator of the www.intrade.com platform) provides its services to you and governs your use of the service.  In addition, special terms (Contract Rules, Contract Specifications, and Exchange Announcements) apply for each market and also constitute part of these Rules, together with the Privacy Policy.

1.2

Intrade provides various services to its registered and unregistered users including real currency and virtual currency prediction market trading and social networking opportunities with other members.  Intrade enables its members to predict and trade on various uncertain events between themselves.  Intrade provides blogging, prediction entry, prediction matching, account opening, and various other facilities as may be amended from time to time without notice via its Platform.

The Intrade Platform and all services provided by the Company are provided strictly on an "as-is" basis.

Intrade is not a bookmaker nor is it involved in the business of betting or wagering.  Intrade collects fees from its account holders on trade execution and contract expiry.

1.3

Intrade The Prediction Market a limited company registered in Ireland.  In these Rules, the terms “Platform”, “Intrade” and “Exchange” refer to Intrade The Prediction Market Ltd or any subsidiary company or any website it operates.

1.4

Intrade may vary these Rules at its sole discretion at any time.  Notification of any changes will be posted on Intrade website for at least one week.  All changes will apply to all outstanding trades, orders and financial transactions.  You agree that should you object to these Rules or any subsequent modification, or are dissatisfied with the service; your only recourse is to close your account (See Section 2.6).

1.5

It is your responsibility to remain apprised of any changes made to these Rules by reviewing Intrade website on a regular basis.

1.6

Unless explicitly stated by Intrade, any new services or features made available by Intrade to its members that enhance or are additional to the current service shall be subject to these Rules.

1.7

All notices that Intrade are required to send to you regarding the service shall be made via e-mail to the e-mail address provided by you.  Notices served by you on Intrade pursuant to these Rules shall be sent to Intrade at the e-mail address given on Intrade’s website.  Communications shall be deemed to have been received at the time of transmission.

1.8

Intrade will use its reasonable endeavours to provide you with support via telephone, or by e-mail, or live chat.  Any requests for support should be directed to Intrade using the details provided in the "Contact Us" page.

1.9

This agreement comes into effect when a prospective user accesses the Intrade platform.

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2

OPENING AN ACCOUNT

2.1

Conditions

To open an account, you must meet the following conditions:

2.1.1

You must carefully read and agree to these Rules, the Privacy Policy and any other rules and regulations posted on the Platform.

2.1.2

You must be aged 18 or over.

2.1.3

You must not already hold an account or have had an account that has been closed by Intrade.

2.1.4

You have not filed for personal bankruptcy.

2.1.5

You are not prohibited from using the services of Intrade for any reason whatsoever, and your use will not cause Intrade to violate any law from any jurisdiction from which you use the service.

2.2

Acceptance

By opening an account on Intrade you recognize and warrant that:

2.2.1

All transactions are contracted and settled on Intrade's servers in Ireland and are governed by Irish law.

2.2.2

You are solely responsible for meeting any requirements of local tax authorities.

2.2.3

Trading on Intrade is an activity predominantly based on skill, not of chance.  You undertake that, when using Intrade's services, you will not rely predominantly on chance and you will not make any offer or series of offers that would, if matched, be considered an illegal activity.

2.2.4

You may lose money on Exchange trades.

2.2.5

You agree to keep your account number and password confidential and accept that you are fully liable for all trading losses, orders and payment transactions on your account, even if you are acting on behalf of a syndicate.

2.2.6

You must provide and, where appropriate, update Intrade with all information that it requires to meet its anti-money laundering obligations (See Section 6)

2.2.7

All information provided by you must be a true, accurate, current and complete description of your circumstances.  You are responsible for informing Intrade via the website of any changes to the account information provided.  Intrade is not responsible if you incur any losses because it was unable to contact you.

2.2.8

Any attempt by you to interrupt the operation of Intrade, disrupt the operation of Intrade website, to manipulate exchange prices or act in a manner that may be injurious to Intrade may result in the immediate closure of your account, and/or unwinding of your trades and/or being prevented from accessing all or any part of Intrade or the website in future.

2.3

Assessment of Information Provided

2.3.1

Exchange will handle all information provided by you on a confidential basis and in accordance with Exchange' Privacy Policy, and Data Protection Consent which you should view.

2.3.2

In applying to open an account, you agree that Intrade:

a)

may conduct checks on the information that you have provided to ensure that it is correct and that you meet the conditions for becoming an account holder of Intrade.  You authorize Intrade to use any means necessary to verify your registration details and check your creditworthiness.

b)

is held harmless against any falsehood or inaccuracy contained in the information you provide when registering as a member.

2.4

Application Process

2.4.1

You may apply to open an account using the application process on the website.

2.4.2

When Intrade has accepted your application it will prepare an account and send you an e-mail with your confirmation code.  When you first access your account quoting this confirmation code, it will be opened.

2.4.3

Before you may trade, you must deposit funds into your account (See Section 4) if you wish to trade real money markets.  All members automatically get 5,000 play money to use in play money markets.

2.4.4

Intrade is entitled to reject your application without giving you a reason.

2.5

Misuse of Account

2.5.1

You agree to disable automatic password memory features in your browser and ensure that you exit from your account at the end of each session.

2.5.2

If you suspect that someone else is using your account, you agree to immediately change your password and inform Intrade by e-mail.

When Intrade is informed it will suspend your account. .

2.6

Account Suspension and Closure

2.6.1

Intrade has the right to suspend or close your account at any time without giving you a reason, without further obligation or liability to you resulting from these actions.

2.6.2

If your account is suspended by Intrade you cannot enter new orders or make deposits/withdrawals and your open orders will be cancelled.  You may still login to your account and view your account details.

2.6.3

You will be unable to access your account if you fail to login correctly on ten consecutive occasions.  To reset your account you must access "Login Help" and apply for a new confirmation code to be e-mailed to you.

2.6.4

You may only request to close your account by contacting Intrade using the details described in the "Contact Us" section of the website.

2.6.5

You may only close your account when there are no open orders or positions and all payments have cleared.

2.6.6

If Intrade closes your account then it may, at its sole discretion, choose to take any or all of the following actions:

a) cancel any or all of your outstanding orders and/or trade out of any open positions in your account;

b) open positions in other similar, but not necessarily Exchange-traded, contracts in order to hedge exposures created by your open positions;

c) offset any money in your account to cover losses made on all of your transactions, instigated either by you or Intrade, and any costs incurred by Intrade in determining and handling your breach of these Rules, including, without limitation, legal costs;

d) recover any losses resulting from the close out of positions by charging to your registered card.

2.6.7

In closing your account, you recognize that Intrade's priority is to protect itself, the integrity of its markets and the interests of its other members.  Intrade neither has any obligation to minimize your losses nor to consult with you over its actions.

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3

YOUR ACCOUNT

3.1

Once you have successfully opened an account you may deposit and withdraw funds as described in Sections 4 and 5.

3.2

You are only allowed to hold money in your account to cover your likely future trading requirements.  Intrade is not a bank and does not provide any banking facilities.  If it appears to Intrade that the amount of money you have deposited is excessive in relation to your trading requirements then you will be required to withdraw money.

3.3

Details of your transactions over the previous 60 days may be viewed in the "My Account" section of the website once you have logged in.

3.5

You can see up-to-date details of your account on the website.

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DEPOSITING FUNDS

4.1

General

4.1.1

On opening a real money trading account, you must firstly deposit a minimum of USD 25 to be able to trade.  However we recommend that you deposit USD 100 as this seems to be the minimum to fully appreciate the trading experience.

4.1.2

All accounts are denominated in US Dollars however you may deposit funds in any other currency and Intrade will convert your funds into USD at commercially available foreign currency rates.

4.1.3

Deposits may only be made using bank transfers, MasterCard and Visa cards, checks, cashiers check, or such other methods that may be approved from time to time by Intrade.

4.1.4

While every effort is made to process your deposit in a timely manner, Intrade is not responsible for any delays that may occur.

4.1.5

Normally there are no fees charged by Intrade to process your deposit, however where Intrade incurs costs as a result of your funds being deposited to your account with Intrade your account will be debited accordingly

4.1.6

Intrade may require proof of identity before it credits your deposit to your account.  If such proof is not received within a timely manner Intrade will return your deposit to you subject to Section 6 below

4.1.7

Intrade reserves the right to withdraw any or all methods of depositing from the member, without further explanation

4.1.8

Should the processing of your deposit be delayed or inaccurate in anyway please contact us by referring to the Contact Us section of our platform.  Intrade reserves the right to correct processing errors in the unlikely event that they should ever occur at any stage.

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5

WITHDRAWING FUNDS

5.1

General

5.1.1

Intrade is determined to process Member withdrawals as quickly as possible. You may withdraw at anytime your Withdrawable Cash (which is Trading Funds less any Trading Credits) from your account by check or bank wire.

6

ANTI-MONEY LAUNDERING PROVISIONS

6.1

Intrade as an Irish resident company applies Irish anti-money laundering regulations.

Where required by Intrade, members agree to provide a signed acceptance of these rules, proof of identity, address and, if appropriate, proof of ownership of your registered bank account or card.

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7

TRADING

7.1

General

7.1.1

Intrade recommends that all members view available demonstrations prior to trading on Intrade.

7.1.2

Intrade provides an order book for all listed contracts.  Members may enter orders to this book or cancel orders through Intrade website.

7.1.3

Intrade accepts no responsibility for any losses incurred due to a member's inability or delay in accessing or using the website.  You are reminded that the Contract Rules contain additional specific regulations relating to trading on contracts, while they do not contain any information specific to Exchange or member downtime.

7.2

Trading Hours

7.2.1

Trading hours, during which orders may be entered and matched, are normally between 8:15am and 7:15am Dublin time (EST+5hours) the following morning.

7.2.2

Where possible, changes to the published trading hours will be published on the "Exchange News" section of the website.

7.2.3

Trading hours may be amended at short notice.

7.2.4

Trading services may be temporarily suspended to permit scheduled system maintenance and enhancements, after all contracts have been paused.

7.2.5

To ensure an orderly market, Intrade retains the right to pause trading in a contract for any period, at any time and for any duration.  While a market is paused, no new orders may be added but open orders may be canceled.

7.2.6

For a short period each day, outside of trading hours, Intrade updates accounts.  During this daily maintenance period, requests to cancel orders and deposit/withdraw funds will be delayed.  Otherwise, even when Intrade is closed, you may cancel open orders, view account reports, initiate payments and request withdrawals.

7.2.7

Trading Services may also be temporarily unavailable for any number of non-scheduled technical reasons including but not limited to hardware or software failures, or failures related to the Internet.

In such eventualities, Intrade will endeavor on a best efforts basis to follow the procedure detailed below.  However, if for whatever reason Intrade is unable to follow its procedure, any claimed or actual loss suffered by a member for any reason will not be the liability of Intrade in compliance with 7.1.3 above.

If trading services become unavailable to all due to hardware, software or other problem, Intrade will endeavor on a best efforts basis to pause all in-running contracts and cancel all open orders before trading services are made available again to trading members.  This procedure is designed as far as possible to protect members who had left orders on an order book from loss caused by the movement of a market during the downtime.

If orders entered by a member on an in-running contract before the trading services became unavailable to all, are matched after trading services become available Intrade will look at the underlying market and determine if the order was executed at an unrepresentative price at the time the order matched.  In such a case certain trades may be unwound in the interest of maintaining an orderly market.

For the avoidance of doubt all positions entered into before any downtime will stand.

7.3

Entering Orders

To trade on Intrade, you must first enter an order.  A trade is executed when either your new order is entered and another member subsequently matches all or part of your order, or your new order immediately matches all or part of another member's open order.

7.3.1

All order prices must be higher than the contract's minimum possible expiry price and lower than the contract's maximum possible expiry price.

7.3.2

Orders are limited in quantity to the maximum order size.

7.3.3

Your order will be rejected if you have insufficient "Available Funds" to cover the new initial margin requirement (See Section 9).

7.3.4

To protect the interests of Intrade and its members, Intrade may restrict a member to entering closing orders.

7.3.5

Orders may be permitted via automated order entry practices with prior agreement with Intrade and by using Intrade's application programmable interface (API).  Intrade reserves the right to prohibit automated order entry, and/or to prohibit small-automated orders (9 lots or less) immediately ahead of non-automated orders.

7.4

Orders on certain events and markets may be held for a period (e.g. 1 second) prior to being made live and available to trade against.  This delay may be changed from time to time depending on the event or underlying circumstances (see rationale below).

Orders on in-running Financial Markets are currently held for 0.5 seconds.  This delay may be changed from time to time depending on the event or underlying circumstances.

When a member cancels an existing order the cancellation is processed immediately.

The rationale behind this feature is to reasonably protect members who enter orders in a contract from potentially losing money as a result of access to slower information over which they have no control e.g. a delayed TV signal or a delayed datafeed.

Any attempt to manipulate a market or circumvent any rule may result in loss of trading privileges.  To check the order delay time check the contract specification or contact Intrade for additional details.

Types of Orders

There are four types of order you may use, as well as specifying whether an order is a Good Till Cancelled Order or Good For Session:-

7.4.1

Limit Buy/Sell Order: A limit buy (sell) order is a request to buy (sell) a specified number of contracts at a price at or below (above) a specified price limit that you set.  A buy (sell) order matches the lowest offers (highest bids) in a price-time priority sequence until the order is filled, or until there are no more offers (bids) at or below (above) the limit price.  If any part or all of the order remains unfilled, it remains posted as a limit buy for the remaining quantity with the same original limit price.

7.4.2

Stop Limit Buy/Sell Order: This order is specified as a buy or sell with an activate price and a limit price.  It is invisible to other members until it is activated by a trade at or above (for a buy order) or below (for a sell order) the specified activation price.  When this order is activated, it behaves as a standard limit buy/sell with time priority based on its activation time.

7.4.3

Fill Or Kill Order: A fill or kill order will only be executed if the full order quantity may be matched immediately.  Otherwise, the whole order will be cancelled.

7.4.4

Custom Time Order: This type of order allows you to place an order for a specific time period.  Once the system time reaches the time you specified any unfilled part of your order will be cancelled.

7.5.1

When entering an order, it must be marked either as one of the above or as Good For Session (GFS) or as Good Till Cancel (GTC).

7.5

Canceling Orders

7.5.1

When you enter a Good For Session (GFS) order, any remaining, unexecuted quantity of a GFS order is automatically cancelled at either the end of the trading day or the expiry of the contract, whichever is earlier.

7.5.1.1 GFS :

When you entered a GTC order it will remain on the order book until you cancel it, the contract expires or it has been matched.

7.5.2

You may cancel orders that have not been matched at any time before the expiry of that contract.

7.5.3

If the minimum and maximum possible prices change, orders with prices below the minimum possible expiry price or above the maximum possible expiry price will automatically be cancelled.

7.6

Trades

When Intrade matches your order with another member's order it becomes a trade.

7.6.1

Matching occurs when a bid/offer is placed on a contract's order book at a higher/lower price than an order already on the order book.

7.6.2

Where the quantity of the new order is less than the order already on the order book, the smaller quantity will match and the remaining quantity will remain on the order book. This is known as a "partial fill".

7.6.3

When matching orders, Intrade gives priority first by price and then by the time that the order was received by Intrade, or in the case of a stop limit buy/sell, the time that the order is activated.

7.6.4

Members are notified of new trades in the "Messages" section of the "Trading Screen".  Additionally you may set up a notification where Intrade automatically sends you an email with details of the trade.

7.6.5

A trade cannot be withdrawn or cancelled "by the member" and Intrade cannot guarantee that the resulting open position (See Section 7.7) may be closed. .

7.6.6

It is possible that you may enter an order, which appears to match against an existing order but that order may either have been withdrawn or matched by another member before Intrade receives your order.

7.7

Open Positions

Your open position represents the net result of your previous trades.

7.7.1

Each time you trade, your open position in the contract is updated.  Although your trade has been executed with another member, your open position shows your effective net position against Intrade.

7.7.2

A positive open position indicates that you have bought more of a contract than you have sold.  A negative open position indicates that you have sold more of a contract than you have bought.

7.8

Closing Out Positions

"Closing out" occurs when you had previously bought a contract and have now sold the same contract, or you had previously sold a contract and have now bought the same contract.  In such circumstances, your open position is always reduced.

7.8.1

You may close out your position by trading on Intrade with any other member.

7.8.2

When a position is closed out, Intrade:

a) calculates your trade profit/loss (See Section 8.3) and adds/subtracts this amount to your account;

b) re-calculates your initial margin based on any remaining position.

7.9

Contract Expiry

7.9.1

Intrade expires a contract and sets its expiry price after the conclusion of the relevant event(s).  Where a contract has expired after 8pm Dublin time (EST+5 hours), the contract may not be expired until the following morning.

7.9.2

Unless the relevant Rules state otherwise, Intrade has the right to expire the contracts early if the end result of the contract is clear and not subject to change.

7.9.3

Rules governing specific markets and contracts, are contained and supplemented by the Contract Specification and Exchange News announcements. If you are unsure about any rules you must contact Intrade before you trade.

7.9.4

When Intrade expires a contract, it takes the following actions:

a) closes the contract to prevent further trading;

b) cancels any outstanding orders;

c) sets an expiry price (See Section 8.4.4)

d) closes any open positions by inserting an opposite trade at the expiry price;

e) calculates the expiry profit/loss (See Section 8.4) and amends your account;

f) re-calculates initial margin on your remaining open positions and orders.

7.9.5

Where there is doubt over the amount of an expiry price, Intrade will delay the setting of that expiry price until a price may be set and, as part of the variation margin calculation, re-value any expired prices at Intrade's best estimate of the expiry price.

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8

SETTLEMENT

8.1

General

8.1.1

Intrade credits/debits your account with trading profits and losses and freezes your funds to cover initial margin on orders and open positions in order to protect itself and its members against a member failing to pay any losses that arise on open positions.

8.1.2

Trading profits and losses are credited and debited to your account in three ways:

a) Variation Margin

b) Trade P&L

c) Expiry P&L

8.2

Variation Margin

At the end of every trading session, Intrade re-values all open positions using its official closing prices.  The resulting profit or loss is known as "variation margin" and will be credited or debited from your cash balance.

8.2.1

Official Closing Prices

8.2.1.1

The official closing prices are determined by Intrade to reflect the market value of the contract.  Recent trade prices and open orders are usually taken into account but Intrade is not obliged to do so.

8.2.1.2

Official closing prices will never be higher than the maximum price for the contract, or lower than the minimum price.

8.2.1.3

There is no right of appeal by members against an official closing price except in the case of manifest and significant error.  In such circumstances, Intrade should be notified by e-mail at help@Exchange.com by noon Dublin time (EST+5hours) the following day.

8.2.2

Revaluation Process

After Intrade has closed at the end of every session, it takes the following action:

8.2.2.1

calculates the day's profit or loss on your open position as the net open position multiplied by the tick size and by the difference between the open position's average price (in ticks) and the official closing price (in ticks).

8.2.2.2

adds the profit to or deducts the loss from your account, marking this amount as 'variation margin'.

8.2.2.3

updates your open position's average price to be the official closing price.

8.3

Trade P&L

8.3.1

Each time a trade reduces your open position in a contract (See Section 7.8) Intrade calculates the session's profit and loss on the closing trade.  This amount is known as "trade profit/loss".

8.3.2

Trade P&L is calculated by multiplying the quantity of the closed position by the tick size and by the difference between the open position's average price (in ticks) and the price of the closing trade (in ticks).

8.3.3

The resulting amount is immediately added (profits) to or deducted (losses) from your account.

8.3.4

The average price of the open position remains unchanged, unless all of the open position has been closed out.

8.4

Expiry P&L

8.4.1

At the expiry of each contract (see Section 7.9) Intrade credits or debits expiry profit/loss from your account

8.4.2

Expiry P&L is the day's profit/loss on the expiring position, calculated by multiplying the expiring position by the difference between the open position's average price and the expiry price.

8.4.3

The resulting amount is immediately added (profits) to or deducted (losses) from your account.

8.4.4

Expiry Prices

8.4.4.1

The expiry price is determined by the outcome of the underlying event in accordance with the Rules for the market.

8.4.4.2

The expiry price will not exceed the contract's maximum price or be less than the minimum price for the contract.

8.4.4.3

If you disagree with the expiry price that Intrade has established, you must inform Intrade by e-mail within 2 days, setting out your reasons. Intrade Pricing Committee will consider your argument and may then, at its sole discretion, amend the expiry price.

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9

INITIAL MARGIN

9.1

General

9.1.1

Intrade normally requires you to deposit funds to cover your worst case future potential losses on your open orders and positions.

Members may apply to trade on margin where you will be required to deposit funds to cover your probable future potential losses on your open orders and positions.

The amount of funds frozen is also known as "initial margin" and may be impacted by whether you trade on margin or now.

9.1.2

Initial margin is calculated and frozen funds amended each time you enter/cancel an order or execute a trade and at the end of each trading day.  On entering an order, if you have insufficient funds to cover the initial margin requirement, your order will be rejected.

9.1.3

Intrade uses an initial margin model to calculate the initial margin requirement for margined members.  For non-margined members Intrade freezes the worst case loss on all open orders and positions.
Detailed examples may be found on Intrade.

9.1.4

Typically but not always for short-term contracts, such as those based on an individual contest , the initial margin will be the maximum possible trading loss on the event.  Before you trade any market you must check the detailed specifications of that market.

9.1.5

For longer-term contracts, usually those based on a season, Intrade uses margin rates to determine initial margin requirements.

9.1.6

Intrade may change from freezing funds based on published margin rates at the individual contract level before the market moves to worst case loss to freezing funds based on the worst case loss at the group level.

9.1.7

Members remain liable for losses in excess of initial margin requirements.  Members who opt to trade on margin are obligated to meet margin calls as detailed hereunder.

9.2

Margin Rates

9.2.1

The main margin rates are either expressed as a price change (e.g. 5 points or $0.50 per contract lot) and are based upon Intrade's judgment of the future price movements and volatility.

9.2.2

Margin rates applicable to an individual market are published on the website in the contract specification page for each particular market.

9.1.3

Intrade will notify members of any changes to margin rates by publishing an announcement on Intrade.  All margin rate changes are applicable to all outstanding open positions and orders in applicable markets.

9.1.4

Margin rates must not be used as an indicator of future trading losses.

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10

MARGIN CALLS

10.1

If you have insufficient funds in your account to cover the required margin, Intrade may make a "margin call" by e-mailing you to deposit more funds.

10.2

If, within 2 working days of the margin call, you fail to deposit the required funds or reduce your open position to a level whereby you have sufficient margin, Intrade has the right to take any or all of the following actions:-

a) immediately terminate this agreement and close your account in accordance with section 2.6;

b) cancel some or all of your open orders and reduce your open positions without further notice to you.

10.3

In taking action under Section 10.2, Intrade does not have any obligation to trade at any particular price when it liquidates your positions, to minimize any losses you may incur as a result of Intrade liquidating your account or consult with you about the actions it is taking.

10.4

All members are responsible for monitoring their accounts and ensuring that they have sufficient funds in their account. Members are strongly recommended to deposit additional funds if they are unable to monitor their account for a period of time (e.g. vacations).

10.5

Intrade may choose not to make a margin call if it deems the amount to be too small. Such a decision does not affect your liability to Intrade.

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11

FEES

11.1

Exchange Fees

11.1.1

Intrade charges Exchange fees for trading on real money contracts.

11.1.2

Current fees are displayed in "Rates and Fees" and by clicking on the contract symbol.

11.2

Account Fees

11.2.1

Where a funded account is inactive for 18 months or more, a $5 dormant account fee will be charged.  The account holder will receive an email every month prior to the charge being made.

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12

GENERAL LEGAL

12.1

The failure of a party to take action in respect of any breach of these Rules shall not constitute a waiver of any other breach of the same or any other provisions of these Rules and no waiver shall be effective unless made in writing.

12.2

If any part of this Agreement is found by a court of competent jurisdiction or other competent authority to be invalid, unlawful or unenforceable then such part shall either be interpreted in a way which can be enforced and is near to the original intent or be severed from the remainder of this Agreement, the remainder of this Agreement continuing to be valid and enforceable to the fullest extent permitted by law.

12.3

These Rules (incorporating contract specific rules or related Exchange Announcements) constitute the entire agreement between you and Intrade and supersede all prior oral or written agreements, understandings, representations or arrangements (unless fraudulent) between you and Intrade relating to the provisions of the service under these Rules.

12.4

These Rules and the agreement they create between you and Intrade is personal to you and you may not transfer or assign the agreement or any part to any third party.

12.5

These Rules shall be construed and governed by the laws of Ireland and you hereby irrevocably submit to the non-exclusive jurisdiction of the Irish courts. Irrespective of the foregoing, you agree to comply with any local laws that may apply to your ability to access, use and deal with the services in any manner.

12.6

Intrade shall not be liable for any breach of its obligations hereunder resulting from causes beyond its reasonable control including, without limitation, fires, flood and strikes (of its own or other employees), technology, network or power supply failures.

12.7

You agree that your calls made to Intrade may be recorded for member service or security purposes.

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13

LIMITATIONS ON EXCHANGE'S LIABILITY

13.1

The service is subject to availability.  Intrade will use its reasonable endeavors to provide you with a continuous service but Intrade makes no warranty or representation that the service will be uninterrupted or error free, nor is any warranty given that the content contained on the website does not contain viruses or may otherwise impact your computer.  You acknowledge that neither Intrade nor any other party has any control over the internet.

13.2

Services are provided on an "as is" basis and Intrade make no warranties or representations of any kind either express or implied in relation to the service including but not limited to warranties or conditions of completeness, accuracy, timeliness, quality (satisfactory or otherwise), merchantability and fitness for a particular purpose.

13.3

No advice or information whether oral or written obtained by you from Intrade or through or from the service shall create any warranty not expressly stated in these Rules.

13.4

Save as expressly set out in these Rules, all conditions and warranties which may be implied or incorporated into these Rules by law or otherwise are hereby expressly excluded to the extent permitted by law.

13.5

Except for death and personal injury arising from Intrade's negligence, Intrade shall not be liable for any indirect, incidental, special, punitive or consequential loss or damages arising from or in connection with these Rules or your use of any Exchange provided services.

13.6

Intrade's maximum aggregate liability under these Rules for any direct loss or damage that you may suffer shall be limited to the aggregate amount on deposit by you with Intrade for the purposes of your use of the service.

13.7

If any exclusion, disclaimer or other provision contained in these Rules is held invalid for any reason and Intrade becomes liable for loss or damage that could otherwise be limited, such liability, whether in contract, negligence or otherwise, will not exceed the aggregate amount deposited by you with Intrade for the purposes of your use of the service.

13.8

Intrade accepts no liability for any defamatory, obscene or offensive material published on the service, whether on the website, by e-mail or otherwise and you agree to fully indemnify Intrade for all liability, as defined in Section 14, incurred through your use of Intrade and incurred by Intrade in relation to any publication by you. Intrade accepts no liability for the content of any other sites linked to Intrade's website.

13.9

Some jurisdictions do not permit the limitation or exclusion of liability for loss or damage or the limitation or exclusion of certain implied warranties. Accordingly some of the limitations and exclusions specified in these Rules may not apply to you.

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14

INDEMNITY

You agree to fully and effectively indemnify and keep indemnified at all times Intrade and its officers, directors, employees, affiliates and agents, immediately on demand against all and any liability (which liability shall include, without limitation, all losses, costs, claims, expenses, demands, actions, damages, legal and other professional fees and expenses on a full indemnity basis) which Intrade or any of those individuals may suffer or incur as a result of access to and/or use of the service by you, any information, data or material produced by you or any breach by you of any of the provisions of these Rules (or of any law, code or regulation relating thereto or otherwise to the service).

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15

INTELLECTUAL PROPERTY AND RIGHTS TO USE

15.1

Intrade hereby grants to you and you hereby accept a non-exclusive and non-transferable license to use any software provided by Intrade for the sole purpose of enabling you to use the service.  You acknowledge and agree that the title to all copyright, trademarks and all other intellectual property rights in any software or other material which you are able to use as part of the service is and shall at all times remain vested in Intrade or its third party licensors.

15.2

You acknowledge that you are permitted to use any such software or materials only as expressly authorized by Intrade or its licensors and may not copy, reproduce, disassemble, reverse compile, adapt, transmit, distribute, sell or sub-license content or create derivative works of such software or other material without express authorization, except for your own personal, non-commercial use.

15.3

You agree that you are not permitted to reproduce, copy, sell, resell or exploit the service (or any part thereof) and use of and access to the services for any commercial purposes.  You agree that you will not create any links to the website without the prior consent of Intrade.

15.4

You agree not to take any action or use any device, software or routine that imposes an unreasonable or disproportionately large load on our infrastructure or which may jeopardize or prejudice the operation, quality or integrity of the website and the service.

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