This web site (the “Site”) is operated and administered by the Black Sea Trade and Development Bank (the “BSTDB”) from its offices within the Hellenic Republic.

These terms and conditions (the “Terms and Conditions”) apply to the use of the Site. By using the Site, users (the “Users”) agree to be bound by these Terms and Conditions including by any amendments thereto from time to time made by the BSTDB and posted on the Site. If Users do not agree with these Terms and Conditions, they should not use this Site.

All information, documents, images, pictures, logos, video clips, graphics and other materials on the Site provided by the BSTDB or various information or content providers (collectively, the “Material(s)”) appear on the Site subject to these Terms and Conditions. In addition, such information or content providers may have additional terms and conditions that govern the use of their material.

The BSTDB maintains the Site solely as a service to its Users without any form of assurance. The information contained herein is for informative purposes only. Users may visit the Site and download and copy Materials from the Site for the User’s personal, non-commercial use, without any right to resell, redistribute or create derivative works therefrom, subject to these Terms and Conditions and also subject to more specific restrictions that may apply to specific Material within this Site.  

Materials provided on this Site are provided "as is" without warranty, condition or commitment of any kind, either express or implied, including without limitation warranties of merchantability, fitness for a particular purpose, and non-infringement. The BSTDB specifically makes no representation, warranty or commitment as to the availability, completeness, accuracy, reliability and timeliness of Materials provided through the Site. The BSTDB periodically adds, changes, improves, or updates the Materials on this Site, or the products and services referred to within, without notice.

The BSTDB makes no representation that Materials at the Site are appropriate or available for use at other locations outside of the Hellenic Republic. Access to the materials on the Site at any location where such content may be illegal is prohibited. If Users access the Site from a location outside of the Hellenic Republic, Users are solely responsible for compliance with local laws.

Under no circumstances shall BSTDB, its respective agents and employees, or information or content providers be liable for any loss, damage, liability or expense (whether arising in contract, tort (including negligence), breach of statutory duty or otherwise) incurred or suffered which is claimed to result from use of this Site, including, without limitation, any fault, inaccuracy, failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure, theft or destruction or unauthorized access to, alteration of, or use of, any of the Materials on the Sites. Use of this Site is at User's sole risk. Under no circumstances, including, but not limited to, negligence, shall the BSTDB or any information or content provider be liable to any User or anyone else for any direct, indirect, incidental, special or consequential loss or damage arising from the use of the Site.

User specifically acknowledges and agrees that the BSTDB is not liable for any conduct of any User.

The content as presented in this Site may vary depending upon User’s browser functionality and limitations. The BSTDB accepts no liability if Users cannot view any part or component of the Site.

Unless expressly stated otherwise, the findings, interpretations and conclusions expressed in the Materials in this Site are those of the various authors of the work and are not necessarily those of the BSTDB or its member countries.

This Site or any Materials may contain advice, opinions, and statements of various information or content providers. The BSTDB does not represent or endorse the accuracy or reliability of any advice, opinion, statement or other information provided by any information or content provider, or any User of this site or other person or entity. Reliance upon any such opinion, advice, statement, or other information shall also be at User’s own risk.

Nothing in this Site or any Materials shall be construed, implicitly or explicitly, as containing any investment recommendations or advice, or constituting an offer of, or an invitation by or on behalf of, the BSTDB to purchase or sell any shares or securities.

As a condition of use of this Site, User agrees to indemnify and hold harmless the BSTDB and all information or content providers from and against any and all actions, claims, losses, proceedings, damages, liabilities, costs and expenses (including reasonable legal fees) arising in any way out of User's use of this Site, or any User violation of these Terms and Conditions, including without limitation any claims alleging facts that if true would constitute a breach by User of these Terms and Conditions. If User is dissatisfied with any Materials on this Site or with any of Terms and Conditions of use of this Site, User's sole and exclusive remedy is to discontinue using this Site.

BSTDB may provide a number of hyperlinks or references to third-party web sites, resources or advertisers, the inclusion of which does not in any way imply endorsement by BSTDB but is provided solely for the convenience of its Users. These third-party web sites are not under the control of BSTDB and BSTDB accepts no responsibility for the contents, advertising, products or other materials made available on or through such web sites or the opinions and statements expressed therein or any hyperlink contained in these linked sites and cannot guarantee the availability, accuracy, timeliness or relevance of these outside materials.

Internet web sites may link to the Side without seeking the permission of the BSTDB. However, such links must clearly identify the BSTDB as the source of information displayed on the Site and preserve the integrity of the Site without alteration. The BSTDB reserves the right to refuse permission to link to the Site and may demand, at any time, that Users or web sites cease to link to the Site.

The Site contains copyrighted Material, trademarks and other proprietary information (collectively, “Intellectual Property”) including text, photographs, video clips and graphics. Users may not modify, publish, transmit, display, participate in the transfer or sale, create derivative works, or in any way commercially exploit the content of the Site without the express prior written permission of BSTDB and/or the copyright owner or except as otherwise expressly permitted under copyright law. Users acknowledge that Users do not acquire any ownership rights by downloading any content from the Site. 

The contents of Materials expressly attributed to third parties are the property and responsibility of such third parties and not of the BSTDB. Use of these documents is subject to the legal terms and conditions contained therein.

These Terms and Conditions shall be construed in accordance with the Laws of England.

Any dispute or claim arising out of, or relating to these Terms and Conditions shall be settled by arbitration in accordance with the UNCITRAL Arbitration Rules in force on the date of these Terms and Conditions. There shall be one arbitrator, and the appointing authority shall be the London Court of International Arbitration. The seat and place of arbitration shall be London, England, and the English language shall be used throughout the arbitral proceedings. The BSTDB and each User waive any rights under the Arbitration Act 1996 or otherwise to appeal any arbitration award to, or to seek determination of a preliminary point of law by, the courts of England or elsewhere.

The arbitrator shall not be authorised to take or provide, and the User agrees not to, seek from any judicial authority, any interim measures of protection or pre-award relief against the BSTDB, any provisions of the UNCITRAL Arbitration Rules notwithstanding. Where the UNCITRAL Arbitration Rules do not provide for a particular situation, the arbitrator shall have absolute discretion to determine what course of action should be followed and the arbitrator's decision shall be final. Any award given by the arbitrator shall be final and binding on the parties and shall be in lieu of any other remedy.

Nothing in these Terms and Conditions shall be construed as a waiver, renunciation or other modification by the BSTDB of any immunities, privileges and exemptions of the BSTDB accorded under the Agreement Establishing the Black Sea Trade and Development Bank, international convention or any applicable law.

The BSTDB reserves its exclusive right in its sole discretion and for any reason and without notice to any Users to alter, amend, limit, suspend or discontinue the Site or any Materials in any respect.

The BSTDB reserves the right to change or remove any Material on the Site including but not limited to revising and/or deleting features or other information without prior notice.

The BSTDB reserves the right to deny in its sole discretion any User access to this Site or any portion thereof without prior notice.

The BSTDB shall have no obligation to take the needs of any User into consideration in connection therewith.

The failure of the BSTDB to exercise or enforce any right or provision of these Terms and Conditions shall not constitute a waiver of such right or provision. If any provision of the Terms and Conditions is found by a legal forum of competent jurisdiction to be invalid or unenforceable, the other provisions of these Terms and Conditions shall be unaffected and remain in full force and effect.

These Terms and Conditions supersede any prior advertisements, terms, agreements or communications and constitute the entire agreement between the BSTDB and the User in respect of the Site.