Terms of Use

This document is a working draft. Questions: hello@cmdt.ai.

These Terms & Conditions (“Terms”) govern access to and use of the CMDT Benchmark, the CMDT Visualization platform, and CMDT AI (collectively, the “Services”), each provided by CMDT AI Inc. (“CMDT,” “we,” or “us”). By accessing or using the Services, you (“User”) agree to be bound by these Terms. Enterprise customers with a signed Standard Data License Agreement are governed first by that agreement, with these Terms applying to anything the Order Form does not address.

1. The Services and Service Tiers

CMDT ingests publicly available water-related records, including municipal bond disclosures, water board filings, deeds, decrees, and permits, together with public hydrology data from government sources. From this corpus, CMDT produces the Benchmark, the Visualization platform, and CMDT AI. CMDT currently offers trial access to the Services, as described in Section 2, and enterprise subscriptions under a separate Order Form. CMDT's longer-term pricing model, including whether a permanent free tier will be offered, has not yet been determined. CMDT may modify, suspend, or discontinue any Service, in whole or in part, at any time.

2. Trial and Evaluation Access

CMDT may, at its discretion, offer prospective Users limited trial or evaluation access to a Service. Unless otherwise agreed in writing, trial access is subject to the following:

Trial access is limited to historical data only and does not include live or production data feeds;
Trial access is restricted to named users designated at signup, and may not be shared beyond those named users;
Trial access expires automatically on the date specified at signup, without further notice, unless converted to a paid subscription;
All restrictions in Section 4 (License and Restrictions) apply equally during the trial period.

3. No Investment, Financial, or Legal Advice

The Services provide informational data, pricing, and analysis. They do not constitute investment, financial, tax, or legal advice, and no output of the Services should be relied upon as a recommendation to enter into any transaction. User represents that it is a sophisticated participant capable of evaluating the merits and risks of any decision made in connection with its use of the Services, and that any such decision is made independently and not in reliance on CMDT.

4. License and Restrictions

4.1 License Grant

Subject to these Terms, CMDT grants User a limited, non-exclusive, non-transferable, non-sublicensable, and revocable license to access and use the Services for User's internal business purposes.

4.2 Ownership

The underlying data corpus, ontology, data collection methodology, benchmark calculation methodology, and all software, models, and systems used to produce the Services are the exclusive property of CMDT. Nothing in these Terms transfers ownership of any of the foregoing to User.

4.3 Usage Restrictions

User shall not, and shall not permit any third party to:

Reverse-engineer, decompile, scrape, or systematically extract the underlying data corpus, ontology, or source documents from the Services, or use them to populate a separate database;
Resell, redistribute, sublicense, or provide third-party access to the Benchmark print, Visualization data, or CMDT AI outputs, in whole or in part, without CMDT's prior written consent;
Use the Services, or any output of the Services, to construct or contribute to a competing water data, benchmark, or index product, or any derivative financial instrument (such as a fund, index-linked note, or derivative) referencing the Benchmark, without a separate written license from CMDT;
Remove or obscure any proprietary notices on outputs of the Services.

4.4 Artificial Intelligence Restrictions

Unless User has express written permission from CMDT for an approved configuration, User shall not use the Services, or any data or output derived from the Services, to train, fine-tune, or otherwise develop an artificial intelligence model, machine learning model, or large language model, whether for internal use or external distribution.

5. Data Sources and Accuracy

CMDT compiles the Services from public-record sources and public government data feeds. CMDT does not knowingly collect or incorporate material non-public information (MNPI), confidential corporate information, or information obtained from insiders into the Services. While CMDT applies a rules-based, documented methodology to its data collection and benchmark calculation, public records and government data sources may themselves contain errors, omissions, or delays outside CMDT's control. CMDT does not warrant the completeness, accuracy, or timeliness of any underlying source data.

6. Citing CMDT Data Externally

User may reference the Benchmark or other CMDT outputs in its own external materials only to the extent permitted by CMDT's citation policy, and must include attribution to CMDT as the source.

7. Disclaimer of Warranties

THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE,” WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR THAT THE SERVICES WILL BE UNINTERRUPTED, ERROR-FREE, OR PRODUCE ANY PARTICULAR INVESTMENT OR BUSINESS OUTCOME.

8. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, CMDT SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS, REVENUE, OR DATA, ARISING FROM OR RELATED TO USER'S USE OF THE SERVICES. CMDT'S TOTAL AGGREGATE LIABILITY ARISING OUT OF OR RELATED TO THESE TERMS SHALL NOT EXCEED THE FEES PAID BY USER TO CMDT IN THE TWELVE (12) MONTHS PRECEDING THE CLAIM, OR ONE HUNDRED DOLLARS ($100), WHICHEVER IS GREATER.

9. Privacy and Cookies

CMDT's collection and use of personal data is described in the CMDT Privacy Policy. CMDT's use of cookies and similar technologies on its website is described in the CMDT Cookie Policy. Both are incorporated into these Terms by reference.

10. CMDT AI Query Data and Product Improvement

This section describes how CMDT uses the queries a User submits to CMDT AI, in addition to the compliance monitoring described in Section 11.

10.1 Trial Tier Users: Initial Development Period

CMDT is in an early stage of developing the Services. During this Initial Development Period, CMDT reviews the content of queries submitted to CMDT AI by trial tier Users, and the responses CMDT AI generates, in order to refine CMDT's data ontology, identify gaps in CMDT's underlying data corpus, and otherwise improve the Services.

Before any such review, CMDT removes account-identifying information, such as name, email address, and organization, from the query. CMDT does not de-identify or alter the substance of the query itself;
CMDT does not share any User's query content, interaction data, or derived interests with any other User, and no User's use of CMDT AI influences the results, data, or answers provided to any other User;
CMDT intends to transition away from this practice as the Services mature, consistent with common industry practice among established data and AI providers. CMDT will update this policy when that transition occurs. See the CMDT Privacy Policy for how this relates to data retention during the trial period.

10.2 Enterprise Customers

For Users accessing the Services under a Standard Data License Agreement, CMDT does not use queries submitted to CMDT AI, or any other data submitted through the Services, to train or improve CMDT AI or any other CMDT product, except with that Customer's prior written consent. This exclusion applies from the outset of Customer's access to the Services and is not affected by the Initial Development Period practices described in Section 10.1.

10.3 Personal Information in Queries

CMDT AI accepts open-ended text queries. User should not, and should instruct its personnel not to, enter personal information about themselves or a third party into a query beyond what is necessary to ask the question. Any personal information a User includes in a query is handled as part of the query content described in this Section 10, and is not separately reviewed, extracted, or used for any purpose beyond those described above. Further detail is available in the CMDT Privacy Policy.

11. Usage Monitoring

CMDT may monitor query volume, access patterns, and usage metadata to verify compliance with applicable license tiers and these Terms, and to maintain the security and integrity of the Services.

12. Term, Termination, and Data Deletion

These Terms remain in effect until terminated. CMDT may suspend or terminate User's access to the Services at any time for breach of these Terms, non-payment, or misuse. User may terminate by discontinuing use of the Services and, where applicable, canceling any paid subscription. Upon termination, User must cease all use of the Services and, to the extent User has retained any Benchmark data, Visualization exports, or CMDT AI outputs locally, delete or return that data, except to the extent User is required by law or regulation to retain it for archival purposes.

13. Changes to These Terms

CMDT may update these Terms from time to time. Material changes will be communicated to registered users. Continued use of the Services after changes take effect constitutes acceptance of the updated Terms.

14. Force Majeure

Neither party shall be liable for any delay or failure to perform its obligations under these Terms, other than payment obligations, resulting from causes beyond that party's reasonable control, including acts of God, natural disaster, war, terrorism, riot, labor dispute, government action, internet or utility failure, or failure of a third-party service on which the Services depend.

15. Governing Law

These Terms are governed by the laws of the State of Delaware, without regard to conflict-of-laws principles.

16. Contact

Questions about these Terms may be directed to hello@cmdt.ai.