Terms of Use TruHedge

1. Introduction

These Terms of Use (“Terms”) are entered into between Tenora Financial Technologies Limited (“Tenora”, “we”, “us”, or “our”) and the entity (“you” or “your”) whose details are set out in the quotation issued by Tenora (the “Quote”).

Tenora provides software applications and products via its website and the TruHedge platform on a subscription basis for the purposes of foreign exchange (“FX”) pricing, analysis, and risk management.

For the avoidance of doubt, none of the services or products provided under these Terms constitute regulated financial services under the Payment Services Regulations 2017, the Electronic Money Regulations 2011, the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, or any other applicable legislation. All services are strictly unregulated.

These Terms govern your access to and use of Trade Analyser Lite, Trade Analyser Pro, and FX Risk Management (together, the “Product”). The specific services available to you are set out in the Quote.

These Terms, together with the Quote, form the agreement between you and Tenora. In the event of any conflict, the Quote shall prevail.

By agreeing to these Terms, you confirm that you are acting as a business customer and not as a consumer.

Any reference to “days” in these Terms means calendar days.

Your use of the Product is also subject to Tenora’s Privacy Policy and Cookie Policy, available via Tenora’s Legal Hub. These explain how personal and business data is collected, used, and stored. By using the Product, you acknowledge and consent to these practices.

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2. Contract Formation and Acceptance

These Terms become legally binding once accepted.

You are deemed to accept these Terms if you:

• Click “accept”, “agree”, or similar wording in connection with a Quote issued by Tenora; or
• Access or continue to use Trade Analyser Lite via the public webpage or access Trade Analyser Pro or FX Risk Management via the TruHedge platform.

The Terms take effect from the date of acceptance (“Effective Date”) and remain in force until terminated in accordance with Section 13.

By accepting a Quote, you confirm that you have read and agreed to these Terms and that you have authority to bind the business entity on whose behalf you are acting.

If you do not agree to these Terms, you must not accept the Quote or use the Product.

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3. Business Use Only

The Product is provided exclusively for business use and is not intended for consumers or retail clients.

Nothing in these Terms creates a partnership, agency, or joint venture. Neither party has authority to bind the other.

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4. Fees, Billing, and Subscription

4.1 Fees and Pricing

Fees payable for use of the Product are set out in the Quote and are subject to the payment terms stated therein.

Tenora may offer the following subscription types:

• Payment in advance for a 12-month period (“Pay Upfront”)
• Monthly recurring payments (“Rolling Payment”)
  

The applicable subscription is specified in the Quote.

Pay Upfront clients must pay all fees upon receipt of a payment link. Rolling Payment clients must pay monthly instalments as specified in the Quote.

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4.2 Billing Commencement

A payment link will be issued no later than one day after Quote acceptance. Billing commences once the first payment is completed.

For Rolling Payment clients, Tenora may collect future instalments using the payment method provided, including direct debit where applicable.

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4.3 Auto-Renewal

Subscriptions automatically renew unless cancelled in accordance with Section 4.5 or terminated under Section 13.

Invoices are issued automatically upon renewal, and payment will be collected using the stored payment method.

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4.4 Payment Processing

Tenora does not store or process payment details. Payments are handled securely by third-party payment providers under their own terms and privacy policies.

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4.5 Cancellations and Changes

You may cancel or request a subscription change by providing at least one month’s written notice before the end of the subscription period.

Rolling Payment subscriptions terminate 30 days after the next renewal following cancellation notice. Pay Upfront subscriptions terminate at the end of the paid term.

No refunds are provided for early termination unless required by law.

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4.6 Suspension for Non-Payment

Tenora may suspend access to the Product if fees remain unpaid.

Failure to resolve unpaid fees after suspension may result in immediate termination.

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4.7 Pricing Changes

Tenora may amend subscription fees with at least one month’s notice. Continued use following renewal constitutes acceptance of revised pricing.

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4.8 Discounts

Any discounts are discretionary, temporary, and non-recurring unless explicitly stated in the Quote.

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5. Third-Party Services

The Product may rely on third-party services. Tenora is not responsible for their availability, security, or performance.

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6. Scope of Use of the Product

a) Trade Analyser Lite

Trade Analyser Lite is freely accessible and enables users to:

• Enter trade details for executed or proposed trades
• Assess trade costs and potential risks
• Analyse pricing competitiveness and hidden costs
• Evaluate cost-benefit and earnings impact scenarios
  

Trade Analyser Lite is informational only and does not constitute financial advice.

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b) Trade Analyser Pro (TruHedge Platform)

Trade Analyser Pro provides tools to:

• Save and compare historical trade data
• Analyse counterparty charges

Access requires account registration and secure login.

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c) FX Risk Management (TruHedge Platform)

FX Risk Management enables users to:

• Centralise exposures and trades
• Create and monitor FX hedging policies
• Input budgets and target FX rates
• Track governance and portfolio performance

No services provided constitute regulated financial or investment advice.

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7. Permitted Use and Restrictions

The Product is for internal business use only.

You must not:

• Distribute, resell, or sublicense the Product without consent
• Use the Product unlawfully
• Reverse engineer or modify the Product
• Introduce malware or automated scraping
• Interfere with system integrity or reputation

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8. Usage and Access Limits

Tenora may restrict or suspend access to prevent misuse, excessive usage, or automated requests.

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9. Ownership and Intellectual Property

All intellectual property rights in the Product belong to Tenora or its licensors.

You are granted a limited, non-exclusive, revocable licence for internal business use only.

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10. Data Ownership and Usage

Data entered remains your property.

Tenora may use anonymised and aggregated data for analytics and service improvement in compliance with UK GDPR and the Data Protection Act 2018.

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11. Accuracy of Information

All outputs are based on user-provided data.

Tenora is not liable for inaccuracies caused by incomplete or incorrect inputs. Outputs are informational only.

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12. No Warranties and Limitation of Liability

The Product is provided “as is” and “as available”.

Tenora disclaims all warranties and shall not be liable for:

• Loss of profits, revenue, or data
• Indirect or consequential damages
• Decisions made using Product outputs

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13. Term and Termination

These Terms continue until subscription expiry or termination.

Tenora may terminate access for breach, non-payment, insolvency risk, legal non-compliance, or change of control.

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14. Amendments

Tenora may update these Terms. Continued use constitutes acceptance of revised terms.

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15. Entire Agreement

These Terms and the Quote constitute the entire agreement between the parties.

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16. Governing Law and Jurisdiction

These Terms are governed by the laws of England and Wales. Courts of England and Wales have exclusive jurisdiction.

17. Contact Information

Tenora Financial Technologies Limited

Email: legal@tenora.com

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18. Variation

No variation is effective unless agreed in writing by authorised representatives.

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19. Waiver

Failure to enforce any right does not constitute a waiver.

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20. Severance

Invalid provisions shall be severed without affecting remaining provisions.

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21. Assignment

You may not assign rights without Tenora’s consent. Tenora may assign freely.

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22. Third Party Rights

No third party has enforcement rights under the Contracts (Rights of Third Parties) Act 1999.

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23. Notices

All notices shall be delivered by email.