The use of the OptionIt.com (the “Website”) is subject to the terms and conditions (the “Terms”) stated herein. Use of the Website constitutes an Agreement by you, the user, that your use is governed by these terms and conditions and by all applicable laws and regulations. If you violate the Terms, OptionIt, Inc. (“OptionIt”) may take appropriate legal action against you, or any other action it deems necessary or appropriate in connection with your Account (as defined herein) and use of the Website, including, without limitation, barring access to the Website and termination of your Account.
Patents and Trademarks
This site and/or OptionIt's services are covered by one or more claims of the following United States Patents or patent applications: 7,313,539; 7,865,424; 7,962,375; 7,996,292; 8,032,447 and additional pending USPTO and international patent applications of OptionIt.
OptionIt and OptionIt.com are trademarks of OptionIt, Inc., all rights reserved.
The works of authorship and content contained in this Website, including but not limited to all design, text and images, are owned, except as otherwise expressly stated, by OptionIt, Inc. (“OptionIt”), its licensors, or respective trademark owners. The entire content of this Website is protected by United States and worldwide, patent, trademark and copyright laws and treaty provisions.
Licensed Use of Website
OptionIt grants you a limited license to access the Website for personal use, and not to download (other than page caching), modify, publish or otherwise distribute any portion of it, except with express written consent of OptionIt.
You are granted a limited, revocable and non-exclusive right to create a hyperlink to the Website's home page at http://www.optionit.com, provided that the link and its surrounding content do not portray OptionIt in a false, negative, misleading, derogatory or otherwise offensive matter. You may not use any OptionIt logo or other proprietary graphic or trademark as part of the link without express written consent of OptionIt. You agree not to deep link to the Website for any purpose, other than to provide a direct link to a page where you have posted an offer to sell or buy a specific good, product or service, except with the express written consent of OptionIt.
Your User Account
If you create a user account (an “Account”) on this site, you agree that you are responsible for the confidentiality of your login information and password and for all activities that occur by or within your Account. OptionIt reserves the right to cancel orders, edit or remove content, suspend or terminate your Account, or refuse service in our sole discretion for any reason whatsoever.
Unauthorized Use of Website
Illegal and/or unauthorized use of the Website is prohibited, including, without limitation, any derivative use of this site or its contents; downloading or copying of Account information for any purpose other than the personal use of the Account holder; unauthorized transactions; unauthorized linking or framing; any use of robots, spiders or similar data mining and extraction utilities; excessive use; or any use that interferes with the privacy or use of the Website by other users will be investigated and appropriate action will be taken, including without limitation suspension or removal of your Account, or other civil, criminal and injunctive redress. No part of this Website may be copied, modified, republished, reverse engineered, sold, transmitted, visited, or otherwise exploited for any purpose except as permitted hereby without the express written consent of OptionIt. OptionIt reserves the right to terminate use of the Website or the OptionIt marketplace at any time.
The Website is intended to provide its users the right to secure an option, which is a contractual right, but not the obligation, to buy an asset at an agreed-upon price (the strike or exercise price) during a certain period of time or on a specific date (exercise date). In the case of the OptionIt marketplace, the options are being secured on an actual tangible good, product or service, and even in the case of a contingent event (please see the Terms of Service for additional details on this type of transaction), are backed by the commitment of an actual supplier. The good, product or service may be obtained by the holder of such option upon proper exercise during the applicable exercise period, in a manner consistent with the terms of the option.
An option is added to available inventory by OptionIt pursuant to a separate agreement between OptionIt and the actual supplier of the good, product or service. Until purchased by a user, such option is owned by OptionIt, but at no point does OptionIt actually take title or possession to the good, product or service for which the option to purchase it may be exercised. OptionIt understands that circumstances may change such that the purchaser of the option may not wish to exercise an option which they have purchased, so OptionIt makes a secondary marketplace available allowing a user to resell the option to other third parties from within the OptionIt marketplace. OptionIt maintains this secondary marketplace as a neutral third-party for the convenience of its users, and users must use their own judgment in making sales or purchase decisions using such marketplace.
This site is not intended as an investment or gambling medium or for use by speculators, but instead is intended to provide a legitimate source of options to acquire an actual good, product or service.
U.S. Export Controls
Some software from this Website may be subject to export controls imposed by the United States and may not be downloaded or otherwise exported or re-exported: (a) into (or to a national or resident of) any country to which the U.S. has placed an embargo, including without limitation, Cuba, Iran, Libya, North Korea, or Syria; or (b) to anyone on the U.S. Treasury Department’s Specially Designated Nationals list, or (c) the U.S. Commerce Department’s Table of Denial Orders. If you download or use the Website or any software (if and to the extent permitted by normal operation of the Website) incorporated therein, you represent and warrant that you are not located in, or under the control of, or a national of any such country or on any such list.
Disclaimer of Warranties
This site and all information, content, materials, products (including software) and services included on or otherwise made available to you through the website are provided by OptionIt on an "as is" and "as available" basis. OptionIt makes no representations or warranties of any kind, express or implied, as to the operation of this site or the information, content, materials, goods, products (including software) or services included on or otherwise made available to you through this site, unless otherwise specified in writing. You expressly agree that your use of this site is at your sole risk.
To the full extent permissible by applicable law, OptionIt disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability and fitness for a particular purpose. OptionIt does not warrant that this website or the OptionIt marketplace; information, content, materials, goods, products (including software) or services included on or otherwise made available to you through this site; the servers upon which the website resides; or e-mail sent from OptionIt are free of viruses or other harmful components. OptionIt will not be liable for any damages of any kind arising from the use of this website or the OptionIt marketplace or from any information, content, materials, products (including software) or services included on or otherwise made available to you through this site, including, but not limited to direct, indirect, incidental, punitive, and consequential damages, unless otherwise specified in writing.
To the extent that the American Law Institute principles of the law of software contracts applies to the use of this website, the OptionIt marketplace or any other software directly or indirectly linked to the website or OptionIt marketplace, and such principles provide for greater rights than included herein, such rights are hereby disclaimed to the maximum extent that the law allows.
Limitation of Liability
In no event will OptionIt be liable to you for any indirect, consequential, exemplary, incidental, special or punitive damages, or for lost profits, revenues or business opportunities, even if OptionIt has been advised of the possibility of such damages. Notwithstanding anything herein to the contrary, the maximum amount of damages payable by OptionIt to any one user will be the amount of fees actually paid for the purchase of the option by such user in the transaction at issue.
OptionIt is not liable for cancelled events or the non-occurrence of conditional events. OptionIt’s policy with respect to such instances is covered by its terms of service.
We may provide links from the Website to third-party websites operated by other businesses. OptionIt does not endorse these, or any other, third party sites, and accepts no responsibility for evaluating or monitoring them for appropriate content, proper functionality, or for any other purpose.
Terms of Service
Your purchases, bids and sales of options on this site are governed by the OptionIt.com Terms of Service, which is incorporated herein by reference thereto and may be viewed at the following TERMS OF SERVICE
User Submissions to Website
Certain areas of the Website may provide you with the opportunity to submit content and information to the Website in various forms, including, without limitation, reviews, chat rooms and blogs. If you submit content, you warrant that you control all of the rights to the submitted content, that it is not false, does not cause injury, does not violate the Terms and that you indemnify OptionIt from any and all claims resulting from your submitted content; you also grant OptionIt a perpetual, non-exclusive, royalty-free, sub-licensable, irrevocable right to use such content and to distribute, reproduce and use such content in derivative works and to display it worldwide via any media.
OptionIt assumes no responsibility or liability for any user content posted to the Website, but OptionIt retains the right to monitor, edit or delete any user-supplied content without notice.
Enforcement of Terms and Conditions
OptionIt expressly reserves the right to monitor any and all use of this Website.
You acknowledge that the Terms are reasonable and necessary and you agree that actual or threatened breach by you of said Terms may entitle OptionIt to immediate injunctive and other equitable relief, without bond and without the necessity of showing actual monetary damages.
OptionIt makes no representation that content provided is applicable or appropriate for use in all locations. These Terms shall be governed by and construed in accordance with the laws of the State of Illinois, without giving effect to any principles of conflicts of law. Any dispute relating in any way to your use of the Website shall be submitted to confidential arbitration in Chicago, Illinois, except that, to the extent you have in any manner violated or threatened to violate OptionIt’s intellectual property rights, OptionIt may seek injunctive or other appropriate relief in any state or federal court in the state of Illinois or elsewhere in its sole discretion, and you consent to exclusive jurisdiction and venue in such courts. Arbitration under this agreement shall be conducted under the rules then prevailing of the American Arbitration Association. The arbitrator's award shall be binding and may be entered as a judgment in any court of competent jurisdiction.
If any part of these terms and conditions is unlawful, void or unenforceable, that part will be deemed severable and will not affect the validity and enforceability of remaining provisions.
You agree to indemnify and hold OptionIt, its affiliates, and their respective officers, agents, employees, contractors and principals, harmless from any loss, liability, claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of your use of the Website or OptionIt marketplace.
Amendments and Modifications
OptionIt reserves the right to amend the information, services, content and/or offerings of this Website at any time without prior notice. The information and materials contained in this Website – and the terms and conditions of the access to and use of such information and materials – are subject to change without notice. We suggest that you check these Terms periodically for changes.
Your use of this Website after we post changes to the Terms indicates your acceptance of the new Terms.