Throughout this Agreement the abbreviation "TSI" means The Speculative Investor Web Site (www.speculative-investor.com) and is deemed to include the editor, publisher and all staff engaged in the production of content for The Speculative Investor Web Site.

TSI is not a registered investment advisor. The TSI Web Site, including all content and materials displayed at the Web Site, is provided for the information of investors and is believed to be accurate at the time of writing/publishing. TSI is not responsible for any actions taken as a result of reading the information provided at the Web Site.

All TSI content is copyright and may not be distributed to others or re-produced (in whole or in part) under any circumstances without the express written consent of TSI.

A subscription entitles access by a single individual. Subscribers agree that they will not reveal their login details (User ID and password) to others.

We respect the privacy of our subscribers and will not share or sell our subscriber lists (or any associated information).

TSI's commitment is to provide 48 Weekly Market Updates and 48 Interim Updates during any 12-month period. If we fail to fulfill this commitment during a particular 12-month period then anyone who was a paid-up subscriber during the period in question will receive a complimentary extension to their subscription until the committed number of Updates has been made available at the TSI Web Site. "Charts and Indicators" and "Stock Selections" will generally be updated weekly, although updates to these sections could be more or less frequent depending on market conditions.

Subscribers can cancel their subscriptions at any time by accessing their on-line WorldPay accounts or by notifying TSI via e-mail. A subscriber who cancels their subscription will continue to have access to the TSI Web Site until their subscription period expires (in the case of a subscriber who has chosen the automatic monthly credit card billing option, this would be until the date that the next monthly payment is due). We do not provide refunds, except as specifically stated below.

If TSI ceases to operate then all subscribers who have chosen the 12-month payment option will receive a refund, on a pro-rata basis, for the unused part of their subscription.