Terms of Service

1. Acceptance

Use of moonlight (the “Service”) constitutes acceptance of these Terms of Service (“Terms”). If you do not agree, do not use the Service.

2. The Service

Moonlight is a software tool that produces algorithmic, descriptive analytics on a portfolio you upload. The output (“Report”) is a fixed-format document containing factor exposures, risk statistics, and other quantitative measures, generated by a deterministic pipeline that runs the same algorithm for every user.

3. Not investment advice

The Report is informational only. It is not investment advice, a recommendation to buy or sell any security, a solicitation of any transaction, or a fiduciary product.

We are not a registered investment adviser. The Service does not maintain ongoing relationships with users, does not custody assets, does not route orders, and does not produce personalized recommendations. Reports describe a portfolio at a point in time; they do not advise on what should be in it.

Backtests, hypothetical scenarios, and “what-if” outputs are clearly labeled as such within the Report. They do not represent actual trading results and are subject to look-ahead and survivorship biases inherent to retroactive simulation.

4. Eligibility

You must be 18 or older and a United States resident. By using the Service you represent that you meet these requirements and that nothing in your professional or regulatory status prohibits you from receiving the Service as a research output.

5. Pricing and refunds

The Service is sold per Report. There is no subscription, no recurring billing, and no ongoing engagement created by purchase. If a pipeline failure prevents delivery of the Report you paid for, an automatic refund is issued. Otherwise, Reports are final on delivery.

6. Permitted use

The Report is licensed to you for personal, non-commercial use. You may not redistribute the Report, white-label it, scrape its contents to populate a competing service, or hold it out as the work of any party other than moonlight. Internal sharing within a household is permitted; commercial republication is not.

7. Limitation of liability

To the maximum extent permitted by law, the total liability of moonlight and its operators for any claim arising out of these Terms or the Service is limited to the amount you paid for the Report giving rise to the claim, or one hundred United States dollars, whichever is greater. We disclaim liability for indirect, consequential, special, or punitive damages, including lost profits or trading losses.

8. No warranty

The Service and the Report are provided on an “as is” basis. We do not warrant that the Report is free of error, that any analytic is fit for any particular purpose, or that any input data is current as of any specific time. Market data carries the customary lag from market close. Numbers in the Report should be cross-checked against your brokerage statement before acting on them.

9. Indemnity

You agree to indemnify moonlight against any third-party claim arising from your use of the Report, including claims that you relied on the Report as if it were investment advice.

10. Arbitration and class waiver

Any dispute arising from these Terms will be resolved by binding individual arbitration administered under the rules of the American Arbitration Association, seated in the State of Delaware. You waive any right to participate in a class action, class arbitration, or representative proceeding.

11. Governing law

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

12. Changes

Material changes to these Terms will be posted to this page and, where required, communicated by email. Continued use of the Service after a change constitutes acceptance of the revised Terms.

13. Contact

Legal inquiries: legal at moonlight (placeholder pending domain registration).