Terms of Service

1. Acceptance of Terms

By accessing, registering for, or using the Benchfolio platform, operated by Benchfolio LLC, a New York limited liability company ("Service", "we", "us", "our"), you agree to be bound by these Terms of Service. If you do not agree to all the terms and conditions of this agreement, you may not access the website or use any of the services.

2. Description of Service

Benchfolio is an institutional-grade portfolio analytics, performance-tracking, and risk-management platform designed for retail investors. The Service includes, without limitation: connected brokerage aggregation, daily portfolio reconstruction, returns and risk analytics (including Sharpe, Sortino, Calmar, drawdown, volatility, and beta metrics), benchmark comparison against published market indices, dividend tracking and forecasting, holdings and allocation analysis, and shareable portfolio report features.

We reserve the right to modify, suspend, or discontinue the Service (or any part thereof) at any time, with or without notice. We shall not be liable to you or any third party for any modification, suspension, or temporary platform outages.

Benchfolio is currently provided on a free beta basis and may require an invite code for new account creation. We may introduce paid features, usage tiers, or billing in the future, and any such changes will be communicated in advance.

4. Global Investment Performance Standards (GIPS) Disclaimer

Benchfolio is not a GIPS-compliant firm and does not claim compliance with the Global Investment Performance Standards (GIPS®). The performance tracking data, mathematical return algorithms (such as Modified Dietz or Daily TWR), and risk models presented on the Service have not been independently verified, audited, or prepared in compliance with GIPS reporting standards. Any analytics derived from your brokerage data are for internal, localized tracking purposes and should not be externally marketed as GIPS-verified composites.

5. Accuracy of Data and Historical Reconstruction

Benchfolio aggregates financial data from third-party brokerage endpoints (primarily utilizing the secure SnapTrade API) and market data providers such as Polygon.io. While we strive to maintain high fidelity in our analytical models, we do not guarantee the completeness, accuracy, timeliness, or reliability of any data presented. Metrics such as execution price, daily P&L, rolling volatility, and Greeks may experience latency or discrepancies due to upstream provider changes, calculation approximations, or data delays.

Historical Reconstruction. For periods prior to your connection with Benchfolio, we may reconstruct up to two years of daily portfolio snapshots by replaying your broker's transaction history through our valuation engine. These reconstructed values are computed estimates, not official brokerage records, and may differ from the statements issued by your broker. Reconstructed data should never be used for tax reporting, regulatory filings, or any purpose where authoritative broker statements are required.

6. User Accounts and Security

To access certain features of the Service, you may be required to create an account. You are strictly responsible for maintaining the confidentiality of your account credentials, API keys, and authentication tokens. You agree to accept responsibility for any and all activities or actions that occur under your account. You must notify us immediately upon becoming aware of any breach of security or unauthorized use.

7. Shared Content and Public Share Links

Benchfolio allows you to create public share links that expose selected portfolio analytics at a URL of the form /s/[token] ("Shared Content"). When you create a Shared Content link, you understand and agree that:

• Shared Content is publicly accessible to anyone with the link. You are solely responsible for deciding what to share and with whom.
• You control which tabs (Overview, Performance, Risk, Holdings) are included, whether dollar values are displayed, whether the share updates live with your current portfolio data, and the expiration window.
• Social platforms (including but not limited to X/Twitter, LinkedIn, Discord, Slack, and iMessage) may cache the Open Graph preview image associated with a Shared Content link. Revoking a share removes the data from our servers, but any cached previews held by third-party platforms may continue to display until those platforms refresh their caches independently.
• We track aggregate view counts on Shared Content for engagement metrics and abuse monitoring. We do not identify individual viewers.
• You grant Benchfolio LLC a limited, worldwide, non-exclusive license to host, store, transmit, and render the Shared Content you create, solely for the purpose of operating the share feature.
• You represent that the data you publish via Shared Content is yours to publish and does not violate the rights of any third party.

8. Acceptable Use

You agree not to use the Service to: (i) circumvent rate limits, authentication, or access controls; (ii) automate account creation, share-link creation, or data scraping beyond what the Service's user interface permits; (iii) reverse engineer, decompile, or attempt to extract the source code of our analytical engines; (iv) resell, sublicense, or redistribute Benchfolio analytics or Shared Content without our written permission; (v) upload, publish, or share content that is unlawful, fraudulent, defamatory, infringing, or that impersonates another person or entity; (vi) use the Service in connection with any security, trading, or financial product that requires regulatory licensure we do not hold; or (vii) interfere with the operation or security of the Service for any other user.

We reserve the right to suspend or terminate accounts and revoke share links that we reasonably believe violate this section, with or without notice.

9. Intellectual Property

The Service, including all proprietary mathematical engines, dashboard layouts, UI/UX designs, trademarks, logos, and software code, is the exclusive property of Benchfolio LLC. You are granted a limited, personal, non-exclusive, non-transferable license to use the platform for your own personal portfolio tracking. Reverse engineering, scraping, or redistributing our analytical tools or interfaces without explicit written consent is strictly prohibited.

10. Copyright Complaints (DMCA)

We respect the intellectual property of others. If you believe that content published via a Benchfolio Shared Content link infringes your copyright, please send a notice to team@benchfolio.com that includes: (a) a physical or electronic signature of the copyright owner or an authorized agent; (b) identification of the copyrighted work claimed to be infringed; (c) the specific URL of the allegedly infringing Shared Content; (d) your contact information; (e) a statement of good-faith belief that the use is not authorized; and (f) a statement, under penalty of perjury, that the information is accurate and you are authorized to act on behalf of the copyright owner. We will respond to properly-submitted notices in accordance with 17 U.S.C. § 512(c).

11. Warranty Disclaimer ("As Is")

Platform Provided Without Warranties

YOUR USE OF THE SERVICE IS AT YOUR SOLE RISK. THE SERVICE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. BENCHFOLIO LLC EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

We make no warranty that (i) the Service will meet your specific trading or analytical requirements, (ii) the calculations will be uninterrupted, timely, secure, or mathematically error-free, or (iii) the results that may be obtained from the use of the Service will be perfectly accurate or perfectly synchronized with your actual brokerage endpoints.

12. Indemnification

You agree to defend, indemnify, and hold harmless Benchfolio LLC, its affiliates, licensors, and service providers, and their respective employees, contractors, agents, officers, and directors, from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including but not limited to attorney's fees), resulting from or arising out of (a) your use and access of the Service, (b) a breach of these Terms, or (c) any Shared Content you publish through the Service.

13. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the State of New York, without regard to its conflict of laws principles.

Any controversy or claim arising out of or relating to these Terms, or the breach thereof, shall be settled exclusively by binding arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, with the seat of arbitration in Albany, New York. You agree to waive any right to participate in a class-action lawsuit or class-wide arbitration against Benchfolio LLC.

30-Day Opt-Out. You may opt out of this arbitration and class-action waiver by sending written notice to team@benchfolio.com within thirty (30) days of first accepting these Terms. Your notice must include your name, the email address associated with your account, and a clear statement that you wish to opt out of arbitration. Opting out will not affect any other provision of these Terms or your continued use of the Service.

14. Limitation of Liability

In no event shall Benchfolio LLC, its directors, employees, partners, agents, or suppliers, be liable for any indirect, incidental, special, consequential or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the Service; (ii) any conduct or content of any third party on the Service; (iii) any inaccuracies in financial data streams; or (iv) unauthorized access, use or alteration of your transmissions or content.

15. General Provisions

Entire Agreement. These Terms, together with the Privacy Policy and any other legal notices published by us on the Service, constitute the entire agreement between you and Benchfolio LLC concerning the Service and supersede all prior or contemporaneous communications, whether written or oral.

Severability. If any provision of these Terms is held by a court of competent jurisdiction to be invalid, illegal, or unenforceable, that provision shall be modified to the minimum extent necessary to make it enforceable, and the remaining provisions of these Terms shall remain in full force and effect.

No Waiver. Our failure to enforce any right or provision of these Terms shall not be considered a waiver of that right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of Benchfolio LLC.

Assignment. You may not assign or transfer these Terms, by operation of law or otherwise, without our prior written consent. Any attempt by you to assign or transfer these Terms without such consent will be null and void. We may freely assign or transfer these Terms without restriction, including in connection with a merger, acquisition, or sale of assets. These Terms bind and benefit the parties and their permitted successors and assigns.

Electronic Communications. By using the Service, you consent to receive communications from us electronically, including by email and in-app notices. You agree that all agreements, notices, disclosures, and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing.

16. Contact

Questions or notices regarding these Terms, including legal inquiries, copyright complaints, and service-of-process requests, may be directed to team@benchfolio.com.