Please read this User Agreement carefully before you use the Rabobank International ("Rabobank" or "We") web site at http://www.rabovm.com (the "Site"). Rabobank International is a trading name used by Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., is incorporated in the Netherlands and registered with the Registrar of Companies for England and Wales No.BR002630. It is regulated in the United Kingdom by the FSA. By using the Site you accept and agree to comply with the terms and conditions set forth in this User Agreement. This User Agreement is a binding agreement between you and Rabobank, and governs your access and use of the Site, which includes any information, data, tools, products, services and other content available on or through the Site (together, "Content").

EACH TIME YOU USE THE SITE, YOUR USE INDICATES YOUR FULL ACCEPTANCE OF AND AGREEMENT TO ABIDE BY THIS USER AGREEMENT IN ITS THEN CURRENT FORM. IF YOU DO NOT ACCEPT THE TERMS AND CONDITIONS STATED IN THIS USER AGREEMENT, YOU SHOULD NOT USE THE SITE.

1.	We grant you a limited right to use the Site.
	Your right to use the Site is subject to your agreement to abide by this User Agreement in its entirety, as well as any other rules, procedures, policies, terms or conditions that govern all or any portion of the Site.
	You may use the Site only for your internal use in your business and only in accordance with this User Agreement.
	The information contained on the site is directed only at persons who are authorized or exempted under the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exceptions) Order 2001 and Annex 5 to Chapter 3 of the Financial Services Authority's Conduct of Business Sourcebooks or as otherwise permitted by applicable law and regulation.
	You may not violate or attempt to violate the security of the Site.
	At any time and for any reason we may revoke your right to use all or any portion of the Site.

2.	The Site and the Content are owned by Rabobank, its affiliates and/or third parties.
	The Site is protected by one or more copyrights, patents, database rights, trademarks, servicemarks and/or other intellectual property rights that are owned by Rabobank, its affiliates and/or third parties.
	Rabobank, Rabobank International, Rabobank Portfolio Management, http://www.rabovm.com and other names and indicia of source of Rabobank and its products and/or services are trademarks, service marks and/or registered trademarks of Rabobank. Other product and company names appearing on the Site may be trademarks, service marks and/or registered trademarks of their respective owners.
	You may not decompile, decompose, reverse engineer, disassemble or otherwise deconstruct all or any portion of the Site.
	You may not modify, adapt, translate, rent, frame, sublicense, assign, loan, resell for profit or distribute all or any portion of the Site.
	You may not publish, broadcast, retransmit, reproduce, commercially exploit, create any derivative of or otherwise disseminate all or any portion of the Site except as explicitly permitted in this User Agreement.
	You may print copies of any accessible portion or portions of the Site only for internal use in your business. You may discuss information that you learn from the Site with your financial, legal or tax advisors, and others with whom you share investment decisions.
	You may not remove any copyright, trademark or other proprietary notice or legend contained on (or printed from) the Site.

3.	There are various risks you assume in using the Site. We make no guarantees, promises or assurances regarding the Site or any Content.
	The Site may not meet your specific needs.
	We may change any portion of the Site at any time without notice to you.
	Although we make reasonable efforts to provide accurate Content on the Site, some Content and some of the assumptions, formulas, algorithms and other data that impact the Content may be inaccurate, outdated or otherwise inappropriate.
	Although we make reasonable efforts to provide up-to-date Content, at times we may not promptly update or correct the Site even if we are aware that it is inaccurate, outdated or otherwise inappropriate. Dated Content speaks only as of the date indicated.
	Some Content requires you to input data, and may not function effectively if you input inaccurate data. Information generated by the Content may vary based on the data that you input.
	We do not endorse the opinions of, or warrant the accuracy of facts or other Content contributed by, any third party.
	You agree that we are not liable for any action you take or decision you make in reliance on any Content.
	We maintain arrangements (known as "Chinese Walls") which restrict access by our employees to information relating to areas of our business with which, and the affairs of our customers with which, such employees are not directly concerned.

4.	We are not liable for any technological problems nor any impact that they may have.
	All or any portion of the Site may not be available and may not function properly at any time.
	Although we make reasonable efforts to avoid technological problems, at any time the Site may have (and may cause) technical problems such as viruses, trojan horses, worms, time bombs and other damaging computer programming routines or engines.
	Although we take reasonable security precautions when using the Internet, telephone or other means to transport data or other communications, we disclaim liability for any interception of data or communications.
	Although we make reasonable efforts to ensure that the Site is secure, we cannot guarantee the security of the Site.
	We are not liable for any damage or injury caused by the performance or failure of performance of all or any portion of the Site.

5.	You have various responsibilities when using the Site. You represent and warrant that:
	You have full authority and all rights necessary to enter into and fully perform all of your obligations pursuant to this User Agreement;
	You have not and you will not enter into any agreement or perform any act which might contravene the purposes and/or effects of this User Agreement; and
	You will not delete any Content on the Site.

6.	You must keep your password confidential.
	You may receive a password to access certain restricted areas of the Site.
	You are solely responsible for maintaining the confidentiality and security of your password. You may not disclose your password to any third party.
	You accept full responsibility for any use of your password.
	You must notify Rabobank immediately of any actual or suspected loss, theft or unauthorized use of your password.
	We are not obligated to inquire as to the authority or propriety of any use of or action taken under your password. We will not be responsible for any loss to you that arises from such use or action or from your failure to comply with these provisions.

7.	We are not responsible for information on any third party web site that is referred in, accessible, or connected by hyperlink to, the Site.
	If you access any third party web site through the Site or otherwise, you do so at your own risk.
	Hyperlinks to or from the Site do not constitute third party endorsement of, sponsorship by, or affiliation with, us.

8.	We have the right to monitor and record activity on the Site and respond as we deem appropriate.
	We may monitor and record activity on the Site for any reason or for no reason.
	We may investigate any complaint or reported violation of our policies.
	We may report any activity that we suspect may violate any law or regulation to regulators, law enforcement officials or other persons or entities that we deem appropriate.
	We may issue warnings, suspend or terminate use of the Site, deny access to all or part of the Site or take any other action that we deem appropriate.

9.	We do not give investment recommendations or accounting, tax or legal advice on or through the Site.
	All Content is for informational purposes only.
	Nothing on the Site is intended to be, and you should not consider anything on the Site to be, a recommendation that you purchase, sell or hold any security or other investment or that you pursue any investment style or strategy.
	Nothing on the Site is intended to be, and you should not consider anything on the Site to be, investment, accounting, tax or legal advice. Rabobank does not provide accounting, tax or legal advice and our employees are not authorized to give such advice.
	The value of investments may fall as well as rise and investors may not get back the amount invested. Also, movements in currency exchange rates may cause the value of investments to go up and down as the case may be.
	THE PAST PERFORMANCE OF ANY INVESTMENT, INVESTMENT STRATEGY OR INVESTMENT STYLE IS NOT INDICATIVE OF FUTURE PERFORMANCE.

10.	WE DISCLAIM ALL WARRANTIES WITH RESPECT TO THE SITE AND THE CONTENT THAT THE LAW ALLOWS US TO DISCLAIM.
	THE SITE, INCLUDING ALL CONTENT, IS PROVIDED "AS IS" AND "AS AVAILABLE".
	WE DISCLAIM ALL REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, OF ANY KIND WITH RESPECT TO THE SITE AND THE CONTENT INCLUDING WARRANTIES OF: MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT OF INTELLECTUAL PROPERTY AND PROPRIETARY RIGHTS.
	WITHOUT LIMITING OUR GENERAL DISCLAIMER, WE DO NOT WARRANT THE AVAILABILITY, ACCURACY, COMPLETENESS, TIMELINESS, FUNCTIONALITY, RELIABILITY, SEQUENCING OR SPEED OF DELIVERY OF THE SITE OR ANY PART OF THE CONTENT.

11.	OUR LIABILITY WITH RESPECT TO THE SITE AND THE CONTENT IS LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW.
	IN NO EVENT WILL WE OR ANY OF OUR AFFILIATES, AGENTS OR EMPLOYEES BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES HOWEVER CAUSED ARISING OUT OF THIS USER AGREEMENT, THE SITE, THE CONTENT, OR THE INABILITY TO USE THE SITE OR THE CONTENT.
	OUR LIABILITY IS LIMITED EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF THE DAMAGES THAT YOU SUFFER OR IF ANY REMEDY YOU DO HAVE FAILS OF ITS ESSENTIAL PURPOSE.
	UNDER ALL CIRCUMSTANCES, THE MAXIMUM LIABILITY OF RABOBANK, ITS AGENTS AND EMPLOYEES TO ANY USER OF THE SITE WITH RESPECT TO THE SITE AND THE CONTENT IS $100.
	THIS DISCLAIMER OF LIABILITY APPLIES TO ANY AND ALL DAMAGES OR INJURY, INCLUDING THOSE CAUSED BY ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DELETION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS, COMMUNICATION LINE FAILURE, THEFT, DESTRUCTION, OR UNAUTHORIZED ACCESS TO, ALTERATION OF, OR USE OF ANY ASSET, WHETHER FOR BREACH OF CONTRACT, TORTIOUS BEHAVIOR, NEGLIGENCE OR UNDER ANY OTHER CAUSE OF ACTION.

12.	You will be responsible for any liability we have that arises out of your breach of this User Agreement or your use of the Site.
	You agree to indemnify, defend and hold harmless Rabobank and its affiliates, agents, employees and third party sources from and against any and all suits, losses, claims, demands, liabilities, damages, costs and expenses (including reasonable attorneys' fees) that arise from or relate to: your use of the Site; your breach of this User Agreement or any representation, warranty or covenant made by you in this User Agreement; your violation of any applicable law, statute, ordinance, regulation or of any third party's rights; or claims asserted by third parties which, if proven, would place you in breach of representations, warranties, covenants or other provisions contained in this User Agreement.
	Rabobank and its affiliates have the right but not the obligation to participate in any defense or settlement. If Rabobank or one or more of its affiliates chooses to participate, each party must pay for its own attorneys' fees. This obligation survives the termination of this User Agreement.

14.	You will be bound by revised versions of this User Agreement that we post on the Site or send to you from time to time.
	We may modify the terms of this User Agreement or any of the policies or guidelines governing the Site, at any time and in our sole discretion.
	We will post the modified User Agreement on the Site. We may also provide written notice to you through electronic or postal mail.
	The modifications will be effective immediately upon posting unless we indicate otherwise.
	Your use of the Site indicates your full acceptance of this User Agreement in its then-current form each time you use the Site.

15.	You are bound by certain other general conditions.
	We may assign this User Agreement in whole or in part at any time without your consent. You may not assign this User Agreement or delegate any of your obligations under this User Agreement. Any purported assignment of this User Agreement in violation of its terms is void.
	If any provision of this User Agreement is found invalid or unenforceable, that provision shall be enforced to the maximum extent possible and the remaining provisions of the User Agreement shall remain in full force and effect.

16.	We protect your personal information in accordance with the 1998 UK Data Protection Act (the "Act").
	Under the UK Data Protection Act 1998 (the "Act"), we are required to take measures to protect personal information that we receive from you. This personal information will be placed on Rabobank International's database and, in accordance with the Act, may be kept, used and shared with our associated companies in other countries (including those outside the EEA) in servicing the Rabobank Group's relationship with you, including the verification of identity.
17.	You may contact Rabobank by e-mail rabopm@rabobank.com with questions about this User Agreement.