1. The Service
Basis ("Basis," "we," "us," or "our") provides a research workspace for investment professionals and individual investors, including note-taking, document storage, access to public filings, earnings call transcripts, market and fundamental data, and artificial-intelligence features that summarize, search, and analyze that material (collectively, the "Service").
Subject to this Agreement, Basis grants Customer a limited, non-exclusive, non-transferable, revocable right to access and use the Service during the Subscription Term for Customer's internal research purposes. Basis may modify the Service from time to time, including by adding, changing, or discontinuing features, provided that Basis will not materially reduce the core functionality of a paid plan during a Subscription Term without providing a pro-rata refund of prepaid Fees.
Basis may offer certain features on a beta, preview, or trial basis. Such features are provided for evaluation purposes, may be modified or withdrawn at any time, and are excluded from any warranty or service commitment.
2. Eligibility and Accounts
Customer must be at least eighteen (18) years of age and capable of entering into a binding contract to use the Service. If Customer registers on behalf of an entity, Customer represents that it has authority to bind that entity to this Agreement, and "Customer" refers to that entity.
Customer is responsible for maintaining the confidentiality of its account credentials and for all activity that occurs under its account, and will notify Basis promptly of any unauthorized use. Each account is for use by a single individual; credentials may not be shared. Multi-seat access is available under the Fund plan.
Customer will provide accurate and complete registration and billing information and keep it current.
3. Restrictions
Except as expressly permitted by this Agreement, Customer will not, and will not permit any third party to: (a) copy, modify, translate, or create derivative works of the Service; (b) reverse engineer, decompile, or otherwise attempt to derive the source code or underlying models of the Service; (c) sell, resell, sublicense, rent, lease, or otherwise make the Service or any data obtained through it available to third parties; (d) access the Service by any automated means, including scraping, crawling, or bulk export, other than through interfaces Basis provides for that purpose; (e) circumvent or attempt to circumvent plan limits, usage allowances, or security controls; (f) use the Service to build a competing product or to train machine-learning models; (g) upload or transmit malicious code; or (h) use the Service in violation of applicable law, including securities laws and regulations governing the use of material non-public information.
4. Customer Content
Customer retains all right, title, and interest in and to the notes, documents, files, and other materials Customer submits to the Service ("Customer Content"). Customer grants Basis a worldwide, non-exclusive, royalty-free license to host, store, reproduce, process, index, transmit, and display Customer Content solely as necessary to provide, secure, and improve the Service for Customer and to comply with law. This license terminates when Customer Content is deleted from the Service, subject to the retention periods described in Section 11.
Basis does not use Customer Content to train artificial-intelligence or machine-learning models, does not sell Customer Content, and does not share Customer Content with other customers. Basis's handling of Customer Content, including encryption and tenant isolation, is described on the Data Privacy page, which is incorporated into this Agreement by reference.
Customer represents and warrants that it has all rights necessary to submit Customer Content to the Service and that Customer Content does not violate any law or the rights of any third party, including any confidentiality obligation Customer owes to a third party.
5. Third-Party Content and Market Data
The Service displays content obtained from third parties, including public filings from the U.S. Securities and Exchange Commission, earnings call transcripts, security prices, financial statements, consensus estimates, news, and other market data ("Third-Party Content"). Third-Party Content is provided for informational purposes only, may be delayed, incomplete, or inaccurate, and is subject to the terms of the applicable data providers. Basis does not verify Third-Party Content and makes no representation as to its accuracy, completeness, or timeliness.
Customer may use Third-Party Content only within the Service and for its internal research purposes, and may not redistribute, republish, or resell it. Data providers are third-party beneficiaries of this Section and may enforce it directly.
6. Artificial-Intelligence Features
The Service includes features that generate summaries, answers, research memoranda, financial models, alerts, and other output using artificial-intelligence and machine-learning technologies ("AI Output"). AI Output is generated automatically, may be inaccurate, incomplete, or misleading, may fail to reflect current information, and may attribute statements incorrectly. Customer is solely responsible for evaluating AI Output and for any decision made or action taken in reliance on it, and should verify AI Output against primary sources before relying on it.
AI Output is provided as part of the Service and is subject to the disclaimers in Section 14. Basis does not guarantee that AI Output is unique to Customer; similar output may be generated for other customers.
7. No Investment Advice
The Service, including all Third-Party Content and AI Output, is provided for informational and research purposes only. Nothing in the Service constitutes investment, financial, legal, tax, or accounting advice, an offer or solicitation to buy or sell any security or other financial instrument, or a recommendation regarding any investment strategy. Basis is not a registered investment adviser, broker-dealer, or financial institution, and no fiduciary relationship is created by Customer's use of the Service.
Investment decisions are made solely by Customer at Customer's own risk. Past performance is not indicative of future results. Customer is responsible for compliance with all laws and regulations applicable to its investment activities.
8. Fees, Billing, and Renewal
The Service is offered under a Free plan and under paid subscription plans described on the pricing page (each, a "Plan"). The features, usage allowances, and limits of each Plan, as published on the pricing page at the time of purchase, are incorporated into this Agreement. Basis may adjust the limits of the Free plan at any time.
Customer will pay the fees for the selected Plan ("Fees") in advance for each monthly or annual billing period (the "Subscription Term"), using the payment method Customer provides. Payments are processed by Stripe, Inc.; Basis does not store payment card details. Customer authorizes Basis and its payment processor to charge the payment method on file for all Fees and applicable taxes when due. Fees are stated in U.S. dollars and are exclusive of taxes, which Customer is responsible for except for taxes based on Basis's net income.
Each paid subscription renews automatically for successive Subscription Terms of the same length unless Customer cancels in accordance with Section 9 before the end of the then-current Subscription Term. Basis will provide at least thirty (30) days' notice by email before any increase in the Fees for Customer's Plan takes effect; the increase applies from the next renewal.
Monthly usage allowances, including tracked companies, AI credits, and Deep Research runs, reset at the start of each calendar month and do not carry over. Deep Research runs are consumed by investment memoranda, deep research reports, and financial model builds. If a payment fails, Basis may retry the charge and will notify Customer; if payment is not received within the retry period, the subscription will be cancelled and the account will revert to the Free plan.
9. Cancellation and Refunds
Customer may cancel a paid subscription at any time through Settings → Plan & billing, which provides access to Customer's billing portal. Cancellation takes effect at the end of the then-current Subscription Term. Customer retains access to the paid Plan until that date, will not be charged for a further Subscription Term, and thereafter continues on the Free plan with Customer Content intact, subject to the Free plan's limits.
Except as expressly provided in this Section or required by applicable law, Fees are non-refundable and there are no refunds or credits for partial Subscription Terms, unused allowances, or downgrades.
Monthly Plans. Fees for monthly Subscription Terms are non-refundable. To avoid a further charge, Customer must cancel before the renewal date.
Annual Plans. If Customer requests a refund within fourteen (14) days of the first charge for an annual Subscription Term, Basis will refund that charge in full. Renewal charges for annual Subscription Terms are non-refundable.
Plan Changes. Upgrades take effect immediately, and the difference in Fees is prorated for the remainder of the Subscription Term. Downgrades take effect immediately, and the unused portion of the higher Plan's Fees is applied as a credit against future invoices; it is not refunded to the payment method.
Refund requests must be sent to hello@basisbook.io from the email address associated with the account and must include the invoice number. Approved refunds are issued to the original payment method and generally appear within five (5) to ten (10) business days, depending on the card issuer.
10. Term and Termination
This Agreement commences when Customer first accesses the Service and continues until terminated. Customer may terminate this Agreement at any time by deleting its account through Settings. Basis may suspend or terminate Customer's access to the Service, with notice where practicable, if Customer breaches this Agreement, if required by law, or if Customer's use poses a security or legal risk to Basis or other customers.
If Basis terminates this Agreement other than for Customer's breach, or discontinues a paid Plan, Basis will refund the pro-rata portion of any prepaid Fees for the remainder of the Subscription Term. Sections 3 through 7 and 11 through 19 survive termination.
11. Data Retention and Deletion
Deleted notes are retained in a recoverable state for thirty (30) days before permanent deletion. Following account deletion, Customer Content is removed from live systems and is purged from backups in the ordinary course of Basis's backup rotation, currently forty-five (45) days. Basis may retain limited transactional and billing records as required by law.
12. Proprietary Rights
Basis and its licensors own all right, title, and interest in and to the Service, including all software, models, designs, documentation, and Third-Party Content, and all associated intellectual-property rights. Except for the limited rights expressly granted in this Agreement, no rights are granted to Customer by implication or otherwise.
If Customer provides suggestions, ideas, or other feedback regarding the Service ("Feedback"), Basis may use the Feedback without restriction or obligation to Customer.
13. Privacy, Security, and Usage Analytics
Basis's collection and use of personal information in connection with the Service is described on the Data Privacy page. Basis maintains administrative, physical, and technical safeguards designed to protect the security and confidentiality of Customer Content, including encryption of Customer Content at rest using keys derived for each account. No method of transmission or storage is completely secure, and Basis does not guarantee that Customer Content will be free from unauthorized access.
Usage analytics and session replay. Basis uses Microsoft Clarity for behavioral metrics, heatmaps, masked session recordings, and performance insights to improve navigation, reliability, and the pricing experience. Collection starts automatically on eligible pages unless disabled through Usage privacy or a recognized browser privacy signal. Interaction data includes page visits, timing, clicks, pointer movement, scrolling, device information, and public pricing events. Microsoft processes this information under its Privacy Statement, linked on our Data Privacy page.
Capture controls. Basis configures strict text and image masking and excludes sign-in, Settings, administration, shared-document, and embed pages. URLs containing unrecognized parameters or resource identifiers stop collection. We do not send account identifiers, emails, or private workspace text as custom tags or associate Clarity recordings with billing records. Our project disables cookies and advertising integrations, and sends denied analytics-storage and advertising-storage signals. Cookieless recordings may not join across page loads.
Retention and earlier data. Microsoft ordinarily retains recordings for 30 days; favorites and a retained sample may remain for up to 9 months. Earlier opt-in Cloudflare recordings remain subject to their original seven-day availability and replay-object expiry rules, activity-triggered metadata cleanup, and provider recovery windows. Earlier recordings are not transferred to Microsoft. The Data Privacy page provides processing, retention, and contact details.
Privacy choices. Help → Usage privacy and the Data Privacy page provide browser-specific controls. Earlier refusals remain honored unless expressly changed. Global Privacy Control and Do Not Track prevent collection. Turning collection off does not limit use of the Service or automatically delete recordings already received. Acceptance of this Agreement does not override a refusal, constitute separate consent where required by law, or waive statutory privacy rights.
14. Warranties and Disclaimers
Each party represents that it has the authority to enter into this Agreement.
EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, THE SERVICE, THIRD-PARTY CONTENT, AND AI OUTPUT ARE PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTY OF ANY KIND. TO THE MAXIMUM EXTENT PERMITTED BY LAW, BASIS AND ITS LICENSORS AND DATA PROVIDERS DISCLAIM ALL WARRANTIES, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT, ACCURACY, AND ANY WARRANTIES ARISING FROM COURSE OF DEALING OR USAGE OF TRADE. BASIS DOES NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE, THAT DEFECTS WILL BE CORRECTED, OR THAT THE SERVICE, THIRD-PARTY CONTENT, OR AI OUTPUT WILL BE ACCURATE, COMPLETE, OR TIMELY.
15. Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT WILL BASIS OR ITS AFFILIATES, LICENSORS, OR DATA PROVIDERS BE LIABLE UNDER OR IN CONNECTION WITH THIS AGREEMENT FOR ANY (A) INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES; (B) LOSS OF PROFITS, REVENUE, BUSINESS, OR GOODWILL; (C) TRADING OR INVESTMENT LOSSES; OR (D) LOSS OF OR DAMAGE TO DATA, IN EACH CASE WHETHER ARISING IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR OTHERWISE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE TOTAL CUMULATIVE LIABILITY OF BASIS AND ITS AFFILIATES, LICENSORS, AND DATA PROVIDERS ARISING OUT OF OR RELATING TO THIS AGREEMENT WILL NOT EXCEED THE GREATER OF (I) THE FEES PAID BY CUSTOMER TO BASIS IN THE TWELVE (12) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM AND (II) ONE HUNDRED U.S. DOLLARS ($100). THE LIMITATIONS IN THIS SECTION APPLY EVEN IF ANY LIMITED REMEDY FAILS OF ITS ESSENTIAL PURPOSE. SOME JURISDICTIONS DO NOT PERMIT CERTAIN LIMITATIONS, IN WHICH CASE THE LIMITATIONS APPLY TO THE FULLEST EXTENT PERMITTED.
16. Indemnification
Customer will defend, indemnify, and hold harmless Basis and its officers, directors, employees, and agents from and against any claims, damages, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of or relating to (a) Customer Content, (b) Customer's use of the Service in violation of this Agreement or applicable law, or (c) any investment decision made by Customer or on Customer's behalf.
17. Governing Law and Disputes
This Agreement is governed by the laws of the Commonwealth of Massachusetts, without regard to its conflict-of-laws principles. The parties will attempt in good faith to resolve any dispute arising out of or relating to this Agreement through informal discussion for at least thirty (30) days after written notice. Any dispute not so resolved will be brought exclusively in the state or federal courts located in Suffolk County, Massachusetts, and each party consents to the personal jurisdiction of those courts. Each party waives any right to a jury trial in connection with any such dispute, and disputes must be brought in a party's individual capacity and not as a plaintiff or class member in any purported class or representative proceeding.
18. Modifications to this Agreement
Basis may modify this Agreement from time to time. Basis will post the updated Agreement on this page and update the "Last updated" date, and for material changes will provide at least fourteen (14) days' notice by email or through the Service before the changes take effect. Customer's continued use of the Service after the effective date of the changes constitutes acceptance. If Customer does not agree to the changes, Customer must stop using the Service and may cancel in accordance with Section 9.
19. General
This Agreement, together with the Data Privacy page and the pricing page, constitutes the entire agreement between the parties regarding the Service and supersedes all prior or contemporaneous agreements and understandings. Customer may not assign this Agreement without Basis's prior written consent; Basis may assign it in connection with a merger, acquisition, or sale of assets. If any provision of this Agreement is held unenforceable, it will be modified to the minimum extent necessary and the remainder will continue in effect. A party's failure to enforce any provision is not a waiver of its right to do so later. Neither party is liable for delay or failure to perform caused by events beyond its reasonable control. Customer will comply with applicable export-control and sanctions laws and represents that it is not located in, or a national of, a jurisdiction subject to comprehensive U.S. sanctions. Notices to Basis must be sent to the address in Section 20; notices to Customer may be sent to the email address associated with its account.