DiligenceVault Service Agreement FAQs
We are making it easy for you to manage the contracting process by providing a list of FAQs that would be helpful to you as you review our service agreement and related exhibits.
Why do you have auto-renewal clause?
Auto-renewal is one less thing to worry about. Your subscription will continue to renew if you continue to use the service. If you need to cancel, simply give us at least 30 days notice. (Sections X)
What is Shared Data? And why is it excluded from data deletion clauses?
DiligenceVault is a technology backed by a network of firms that exchange data and documents. So for any information that is exchanged, there is a sender and the receiver. If either party asks us to delete the data, we still need to retain a copy of the data for the other party. (Sections X)
Why do we retain the right to modify customer data?
DiligenceVault has developed several self cleansing algorithms for bounced contacts as well as managing corporate actions across firms. This process requires us to modify some of your data from time to time to ensure validity and integrity of the data, and hence we retain these rights. (Sections X)
Why does DiligenceVault need marketing rights?
Given DiligenceVault is a two sided platform, where two parties are engaging in a exchange of information, it’s usually public knowledge that you are a client of DiligenceVault. So any press mention or social media is usually a positive event for both parties as we drive towards digital transformation in the industry. Please note that we will not use your name or logo without prior authorization. (Section X)
Who owns the Customer Data?
All ownership of data that you input or your investment counterparts input stays with you the Customer. You remain the data controller. DiligenceVault only retains the right to aggregate analytics and usage statistics.
What provisions apply to EU Data Transfer?
DiligenceVault relies on the SCC clauses as processor of the data. Please refer to our DPA here.