You must be at least 18 years of age and legally competent to enter into a binding agreement under applicable Indian law to use the Platform. By creating an account, you represent and warrant that:

• All information you provide during registration is accurate and complete
• You will maintain the accuracy of such information
• You are responsible for safeguarding your account credentials and for all activity under your account
• You will notify us immediately of any unauthorized use of your account

You may create an account using your email address and password or through Google OAuth. Guest access is available with limited functionality; guest accounts and associated data are automatically deleted after 24 hours.

Alphabench is an AI-powered quantitative research and options backtesting platform. The Platform provides tools for:

• Conversational AI-assisted strategy research using historical Indian market data (NSE/BSE)
• Options strategy backtesting with historical options chain reconstruction
• Performance analysis with quantitative metrics and equity curves
• Financial news and research retrieval
• Sharing and forking of research iterations

THE PLATFORM IS A RESEARCH AND EDUCATIONAL TOOL ONLY. IT DOES NOT EXECUTE REAL TRADES, MANAGE PORTFOLIOS, OR CONNECT TO LIVE BROKERAGE ACCOUNTS FOR ORDER PLACEMENT.

Alphabench functions solely as an information retrieval and research tool, comparable in nature to a search engine. Just as a search engine indexes and presents publicly available information without endorsing or recommending it, Alphabench aggregates historical market data and generates research output for educational exploration only. The Platform does not serve as an investment guide, financial advisor, or trading signal provider. Any decision to buy, sell, hold, or otherwise transact in any financial security is entirely the user's own decision, and all financial risk arising from such decisions rests solely and exclusively with the user. Alphabench bears absolutely no liability for any financial loss, risk, or consequence resulting from a user's trading or investment activities.

CRITICAL LEGAL NOTICE: ALPHABENCH DOES NOT PROVIDE INVESTMENT ADVICE, TRADING ADVICE, OR FINANCIAL RECOMMENDATIONS OF ANY KIND.

All content, information, data, algorithms, strategies, backtesting results, simulations, analyses, research, tools, and software provided through the Platform ("Content") is furnished solely for informational, educational, and research purposes only. The Content does not constitute, and should not be construed as, investment advice, trading advice, financial planning, tax advice, legal advice, or any other form of professional financial counsel.

Users are expressly prohibited from interpreting, relying upon, or using the Content as the basis for any investment decisions, trading activities, or financial transactions. Alphabench does not provide personalized recommendations, customized strategies, or tailored financial guidance. Any decision to buy, sell, hold, or otherwise transact in securities, financial instruments, or investment products is made solely at the user's own risk and discretion.

ALPHABENCH EXPRESSLY DOES NOT PROVIDE STOCK TRADING TIPS, STOCK PICKS, SECURITY RECOMMENDATIONS, OR ANY FORM OF TRADING SIGNALS.

Any mention, discussion, analysis, or data regarding specific stocks, securities, ETFs, mutual funds, commodities, currencies, derivatives, or other financial instruments in the Content is provided for illustrative, educational, and research purposes only. Such references do not constitute endorsements, recommendations, suggestions, or solicitations to invest in, purchase, sell, or otherwise trade such instruments.

The Platform uses artificial intelligence (including Google Gemini) to generate responses, analysis, and research output. You acknowledge and agree that:

• AI-generated content may contain errors, inaccuracies, hallucinations, or outdated information
• AI responses are generated probabilistically and should not be treated as factual without independent verification
• The AI does not have real-time market awareness and operates on historical data only
• AI-suggested strategies, signals, or analyses are hypothetical constructs for research purposes and must not be used as trading instructions
• Alphabench does not guarantee the accuracy, completeness, or fitness of any AI-generated output for any purpose

You are solely responsible for evaluating and verifying any information provided by the AI before acting upon it in any capacity.

ALL RISK OF TRADING WITH REAL MONEY, INCLUDING THE RISK OF TOTAL FINANCIAL LOSS, LIES SOLELY AND EXCLUSIVELY WITH THE USER.

By accessing or using the Platform, you expressly acknowledge and agree that you assume all responsibility for any and all investment decisions, trading activities, and financial outcomes resulting from your use of the Platform or reliance on the Content.

You further acknowledge that trading and investing in financial markets involves substantial risk, including but not limited to:

• The risk of losing your entire investment principal
• The risk of market fluctuations and adverse price movements
• The risk of leverage amplifying both gains and losses
• The risk of counterparty failure or default
• The risk of technological failures, system errors, or data inaccuracies
• The risk of regulatory changes affecting trading activities
• The risk of tax consequences and liabilities
• The risk of operational errors or human mistakes in execution
• The risk of liquidity constraints preventing timely transactions
• The risk of extreme volatility causing rapid and unpredictable price changes

You represent and warrant that you are financially capable of bearing the risk of substantial financial loss and that you are using only "risk capital" — funds that you can afford to lose entirely without compromising your financial stability, obligations, or well-being.

ALPHABENCH MAKES NO REPRESENTATIONS, GUARANTEES, OR WARRANTIES REGARDING FUTURE PERFORMANCE, RETURNS, OR RESULTS.

Any historical performance data, backtesting results, simulated returns, hypothetical scenarios, or statistical analyses presented in the Content are provided for educational purposes only and do not guarantee or predict future outcomes. Past performance is not indicative of future results, and simulated or hypothetical performance may not reflect actual trading conditions, transaction costs, slippage, market impact, or other real-world factors.

You agree not to:

• Use the Platform for any unlawful purpose or in violation of any applicable laws or regulations
• Attempt to gain unauthorized access to the Platform, other accounts, or computer systems
• Redistribute, resell, sublicense, or commercially exploit the Content or Platform without prior written consent
• Use automated scripts, bots, or scraping tools to access the Platform beyond normal usage
• Circumvent, disable, or interfere with security features of the Platform
• Present AI-generated output or backtesting results as personalized investment advice to third parties
• Use the Platform to provide investment advisory, research analyst, or portfolio management services to others without appropriate SEBI registration
• Upload malicious code, viruses, or any content designed to disrupt the Platform

The Platform, including its design, software, algorithms, backtesting engine, AI integrations, text, graphics, and other content (excluding user-generated content), is the intellectual property of Alphabench and is protected under applicable Indian and international intellectual property laws.

You retain ownership of the content you input into the Platform (your queries, strategy descriptions, etc.). By using the Platform, you grant Alphabench a non-exclusive, worldwide, royalty-free license to process, store, and display your content as necessary to provide the services. When you create a public share link, you grant Alphabench the right to make that content accessible to anyone with the link.

Historical market data displayed on the Platform is sourced from third-party providers and is subject to their respective terms and licenses.

The Platform integrates with and relies on third-party services, including but not limited to Google Gemini (AI processing), OpenRouter (API routing), Exa AI (financial research), Zerodha/Kite Connect (historical market data), and Amazon Web Services (infrastructure and email). These third-party services are governed by their own terms of service and privacy policies.

Alphabench is not responsible for the availability, accuracy, or performance of third-party services. Disruptions or changes to third-party services may affect Platform functionality without prior notice.

12.1 Plans and Pricing

Alphabench offers a free tier with limited monthly usage allowances and a paid "Pro" subscription plan with higher usage limits. Additionally, users may purchase prepaid credits to supplement free-tier allowances. All prices are denominated in United States Dollars (USD). Alphabench reserves the right to modify pricing, plan features, usage limits, and credit conversion rates at any time, with reasonable prior notice to existing subscribers.

12.2 Subscriptions

Pro subscriptions are billed on a recurring monthly basis through our third-party payment processor, Razorpay. By subscribing, you authorize Alphabench and Razorpay to charge the applicable subscription fee to your designated payment method on each recurring billing date. Subscriptions automatically renew at the end of each billing cycle unless cancelled by you prior to the renewal date. Upon cancellation, you shall retain access to Pro features until the end of the then-current paid billing period, after which your account shall revert to the free tier.

12.3 Prepaid Credits

Credits are purchased on a one-time, non-recurring basis and are added to your account balance upon successful payment verification. Credits do not expire and are not subject to monthly reset. Credits are non-transferable between accounts. Credits are consumed automatically when your usage exceeds free-tier monthly allowances. The credit conversion rate is currently $1 USD = 100 credits. Alphabench reserves the right to modify the credit conversion rate, credit pricing, and credit expiration policies at any time at its sole discretion, with reasonable prior notice to users with existing credit balances. Credit balances are non-refundable except as expressly provided in Section 12.5 below.

12.4 Usage Metering and Limits

Monthly usage counters (messages, backtests, research jobs) reset at the beginning of each calendar month. Usage is tracked per action and is non-reversible — once a usage event is recorded, it cannot be undone. Alphabench reserves the right to suspend or restrict access if usage patterns indicate abuse, automated scripting, or circumvention of usage limits.

12.5 Refund Policy

ALL PAYMENTS MADE TO ALPHABENCH ARE GENERALLY NON-REFUNDABLE. REFUNDS SHALL BE PROCESSED ONLY UNDER GENUINE AND VERIFIABLE CIRCUMSTANCES, INCLUDING BUT NOT LIMITED TO DUPLICATE CHARGES, INCORRECT CHARGE AMOUNTS, OR TECHNICAL ERRORS ATTRIBUTABLE TO ALPHABENCH OR ITS PAYMENT PROCESSOR.

To request a refund, you must send a written request to billing@alphabench.in within seven (7) calendar days of the disputed transaction, providing the transaction reference number, date, amount, and a detailed description of the issue. Refund requests are reviewed on a case-by-case basis at Alphabench's sole discretion. Approved refunds shall be processed to the original payment method within fourteen (14) business days of approval. Alphabench shall not be liable for delays caused by banking institutions or payment processors. Refunds shall not be issued for: (a) change of mind or dissatisfaction with Platform features; (b) partial use or non-use of a subscription period; (c) voluntary account deletion or cancellation after the billing cycle has commenced; or (d) service interruptions caused by third-party providers, force majeure events, or scheduled maintenance.

12.6 Payment Processing

All payment transactions are processed by Razorpay, a third-party payment gateway. Alphabench does not directly store, process, or retain your credit card, debit card, or bank account details. By making a payment, you agree to Razorpay's terms of service and privacy policy. Alphabench shall not be liable for any payment failures, processing delays, or security incidents attributable to Razorpay or your financial institution. You are responsible for ensuring that your payment method is valid, has sufficient funds, and complies with applicable regulations.

12.7 Failed Payments

In the event of a failed subscription payment, Alphabench reserves the right to immediately downgrade your account to the free tier. Access to Pro features shall be suspended until a valid payment method is provided and the outstanding charge is successfully processed. Alphabench shall not be liable for any loss of data, research progress, or service continuity resulting from payment failures.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ALPHABENCH, ITS PARTNERS, OFFICERS, EMPLOYEES, AND AFFILIATES SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES ARISING OUT OF OR RELATED TO YOUR USE OF THE PLATFORM OR CONTENT, INCLUDING BUT NOT LIMITED TO:

• Losses from trading activities or investment decisions made in reliance on the Content
• Errors, inaccuracies, or omissions in backtesting results or AI output
• Service interruptions, data loss, or system failures
• Unauthorized access to or alteration of your data
• Any other matter relating to the Platform, whether based in contract, tort, negligence, strict liability, or otherwise

In no event shall Alphabench's total aggregate liability exceed the amount paid by you to Alphabench in the twelve (12) months preceding the event giving rise to the claim, or INR 5,000 (Indian Rupees Five Thousand), whichever is greater.

We may suspend or terminate your access to the Platform at any time, with or without cause, and with or without notice. Reasons for termination may include, but are not limited to, violations of these Terms, abusive usage, suspected fraud, or extended inactivity.

You may terminate your account at any time by contacting us. Upon termination, your right to use the Platform ceases immediately. We may retain certain data as required by law or for legitimate business purposes, as described in our Privacy Policy.

Sections 3 through 8 (disclaimers and risk warnings), 12 (paid services and refund policy), 13 through 15 (warranties, liability, indemnification), and 18 (governing law) shall survive termination of these Terms.

These Terms shall be governed by and construed in accordance with the laws of India. Any disputes arising out of or relating to these Terms or the Platform shall be subject to the exclusive jurisdiction of the courts in Mumbai, India.

Before initiating any formal proceedings, both parties agree to attempt to resolve disputes through good-faith negotiation for a period of thirty (30) days from the date of written notice of the dispute.