OTION PRIVACY POLICY


Last updated: 24, Aug 2024

This Privacy Policy describes Our policies and procedures on the collection, use and disclosure of Your information when You use the Service and tells You about Your privacy rights and how the law protects You.

We use Your Personal data to provide and improve the Service. By using the Service, You agree to the collection and use of information in accordance with this Privacy Policy. This Privacy Policy has been created with the help of the Privacy Policy Generator.

1. Interpretation and Definitions

Interpretation

  • The words of which the initial letter is capitalized have meanings defined under the following conditions. The following definitions shall have the same meaning regardless of whether they appear in singular or in plural.

Definitions

  • For the purposes of this Privacy Policy:
  1. Account means a unique account created for You to access our Service or parts of our Service.
  2. Affiliate means an entity that controls, is controlled by or is under common control with a party, where "control" means ownership of 50% or more of the shares, equity interest or other securities entitled to vote for election of directors or other managing authority.
  3. Company (referred to as either "the Company", "We", "Us" or "Our" in this Agreement) refers to Otion Trading Intermediary LLC.
  4. Cookies are small files that are placed on Your computer, mobile device or any other device by a website, containing the details of Your browsing history on that website among its many uses.
  5. Country refers to: United Arab Emirates
  6. Device means any device that can access the Service such as a computer, a cellphone or a digital tablet.
  7. Personal Data is any information that relates to an identified or identifiable individual.
  8. Service refers to the Website along with Otion platform (“Platform”), which serves as a marketplace for business acquisitions, allowing business sellers to list their businesses and potential buyers to connect with them.
  9. Service Provider means any natural or legal person who processes the data on behalf of the Company. It refers to third-party companies or individuals employed by the Company to facilitate the Service, to provide the Service on behalf of the Company, to perform services related to the Service or to assist the Company in analyzing how the Service is used.
  10. Third-party Social Media Service refers to any website or any social network website through which a User can log in or create an account to use the Service.
  11. Usage Data refers to data collected automatically, either generated by the use of the Service or from the Service infrastructure itself (for example, the duration of a page visit).
  12. Website refers to site, accessible from otion.ae
  13. You means the individual accessing or using the Service, or the company, or other legal entity on behalf of which such individual is accessing or using the Service, as applicable.

2. Collecting and Using Your Personal Data

Types of Data Collected

Personal Data

  • While using Our Service, We may ask You to provide Us with certain personally identifiable information that can be used to contact or identify You. Personally identifiable information may include, but is not limited to Email address, First name and last name, Phone number, Address, State, Province, ZIP/Postal code, City, Usage Data

​​Usage Data

  • Usage Data is collected automatically when using the Service. Usage Data may include information such as Your Device's Internet Protocol address (e.g. IP address), browser type, browser version, the pages of our Service that You visit, the time and date of Your visit, the time spent on those pages, unique device identifiers and other diagnostic data. When You access the Service by or through a mobile device, We may collect certain information automatically, including, but not limited to, the type of mobile device You use, Your mobile device unique ID, the IP address of Your mobile device, Your mobile operating system, the type of mobile Internet browser You use, unique device identifiers and other diagnostic data. We may also collect information that Your browser sends whenever You visit our Service or when You access the Service by or through a mobile device.

Information from Third-Party Social Media Services

  • The Company may allow You to create an account and log in to use the Service through the following Third-party Social Media Services such as Google, Facebook, Instagram, Twitter, LinkedIn etc. If You decide to register through or otherwise grant us access to a Third-Party Social Media Service, We may collect Personal data that is already associated with Your Third-Party Social Media Service's account, such as Your name, Your email address, Your activities or Your contact list associated with that account. You may also have the option of sharing additional information with the Company through Your Third-Party Social Media Service's account. If You choose to provide such information and Personal Data, during registration or otherwise, You are giving the Company permission to use, share, and store it in a manner consistent with this Privacy Policy.

​Tracking Technologies and Cookies

  • We use Cookies and similar tracking technologies to track the activity on Our Service and store certain information. Tracking technologies used are beacons, tags, and scripts to collect and track information and to improve and analyze Our Service. The technologies We use may include:
    1. Cookies or Browser Cookies. A cookie is a small file placed on Your Device. You can instruct Your browser to refuse all Cookies or to indicate when a Cookie is being sent. However, if You do not accept Cookies, You may not be able to use some parts of our Service. Unless you have adjusted Your browser setting so that it will refuse Cookies, our Service may use Cookies.
    2. Web Beacons. Certain sections of our Service and our emails may contain small electronic files known as web beacons (also referred to as clear gifs, pixel tags, and single-pixel gifs) that permit the Company, for example, to count users who have visited those pages or opened an email and for other related website statistics (for example, recording the popularity of a certain section and verifying system and server integrity).
  • Cookies can be "Persistent" or "Session" Cookies. Persistent Cookies remain on Your personal computer or mobile device when You go offline, while Session Cookies are deleted as soon as You close Your web browser. You can learn more about cookies on TermsFeed website article.
  • We use both Session and Persistent Cookies for the purposes set out below:

​i. Necessary / Essential Cookies

    • Type: Session Cookies
    • Administered by: Us
    • Purpose: These Cookies are essential to provide You with services available through the Website and to enable You to use some of its features. They help to authenticate users and prevent fraudulent use of user accounts. Without these Cookies, the services that You have asked for cannot be provided, and We only use these Cookies to provide You with those services.

​ii. Cookies Policy / Notice Acceptance Cookies

    • Type: Persistent Cookies
    • Administered by: Us
    • Purpose: These Cookies identify if users have accepted the use of cookies on the Website.

​iii. Functionality Cookies

    • Type: Persistent Cookies
    • Administered by: Us
    • Purpose: These Cookies allow us to remember choices You make when You use the Website, such as remembering your login details or language preference. The purpose of these Cookies is to provide You with a more personal experience and to avoid You having to re-enter your preferences every time You use the Website.

Use of Your Personal Data

  • The Company may use Personal Data for the following purposes:
  1. To provide and maintain our Service, including to monitor the usage of our Service.
  2. To manage Your Account: to manage Your registration as a user of the Service. The Personal Data You provide can give You access to different functionalities of the Service that are available to You as a registered user.
  3. For the performance of a contract: the development, compliance and undertaking of the purchase contract for the products, items or services You have purchased or of any other contract with Us through the Service.
  4. To contact You: To contact You by email, telephone calls, SMS, or other equivalent forms of electronic communication, such as a mobile application's push notifications regarding updates or informative communications related to the functionalities, products or contracted services, including the security updates, when necessary or reasonable for their implementation.
  5. To provide You with news, special offers and general information about other goods, services and events which we offer that are similar to those that you have already purchased or enquired about unless You have opted not to receive such information.
  6. To manage Your requests: To attend and manage Your requests to Us.
  7. For business transfers: We may use Your information to evaluate or conduct a merger, divestiture, restructuring, reorganization, dissolution, or other sale or transfer of some or all of Our assets, whether as a going concern or as part of bankruptcy, liquidation, or similar proceeding, in which Personal Data held by Us about our Service users is among the assets transferred.
  8. For other purposes: We may use Your information for other purposes, such as data analysis, identifying usage trends, determining the effectiveness of our promotional campaigns and to evaluate and improve our Service, products, services, marketing and your experience.
  • We may share Your personal information in the following situations:
  1. With Service Providers: We may share Your personal information with Service Providers to monitor and analyze the use of our Service, to contact You.
  2. For business transfers: We may share or transfer Your personal information in connection with, or during negotiations of, any merger, sale of Company assets, financing, or acquisition of all or a portion of Our business to another company.
  3. With Affiliates: We may share Your information with Our affiliates, in which case we will require those affiliates to honor this Privacy Policy. Affiliates include Our parent company and any other subsidiaries, joint venture partners or other companies that We control or that are under common control with Us.
  4. With business partners: We may share Your information with Our business partners to offer You certain products, services or promotions.
  5. With other users: when You share personal information or otherwise interact in the public areas with other users, such information may be viewed by all users and may be publicly distributed outside. If You interact with other users or register through a Third-Party Social Media Service, Your contacts on the Third-Party Social Media Service may see Your name, profile, pictures and description of Your activity. Similarly, other users will be able to view descriptions of Your activity, communicate with You and view Your profile.
  6. With Your consent: We may disclose Your personal information for any other purpose with Your consent.

Retention of Your Personal Data

  • The Company will retain Your Personal Data only for as long as is necessary for the purposes set out in this Privacy Policy. We will retain and use Your Personal Data to the extent necessary to comply with our legal obligations (for example, if we are required to retain your data to comply with applicable laws), resolve disputes, and enforce our legal agreements and policies. The Company will also retain Usage Data for internal analysis purposes. Usage Data is generally retained for a shorter period of time, except when this data is used to strengthen the security or to improve the functionality of Our Service, or We are legally obligated to retain this data for longer time periods.

Transfer of Your Personal Data

  • Your information, including Personal Data, is processed at the Company's operating offices and in any other places where the parties involved in the processing are located. It means that this information may be transferred to and maintained on computers located outside of Your state, province, country or other governmental jurisdiction where the data protection laws may differ than those from Your jurisdiction. Your consent to this Privacy Policy followed by Your submission of such information represents Your agreement to that transfer. The Company will take all steps reasonably necessary to ensure that Your data is treated securely and in accordance with this Privacy Policy and no transfer of Your Personal Data will take place to an organization or a country unless there are adequate controls in place including the security of Your data and other personal information.

Delete Your Personal Data

  • You have the right to delete or request that We assist in deleting the Personal Data that We have collected about You. Our Service may give You the ability to delete certain information about You from within the Service. You may update, amend, or delete Your information at any time by signing in to Your Account, if you have one, and visiting the account settings section that allows you to manage Your personal information. You may also contact Us to request access to, correct, or delete any personal information that You have provided to Us. Please note, however, that We may need to retain certain information when we have a legal obligation or lawful basis to do so.

Disclosure of Your Personal Data

  1. Business Transactions
    If the Company is involved in a merger, acquisition or asset sale, Your Personal Data may be transferred. We will provide notice before Your Personal Data is transferred and becomes subject to a different Privacy Policy.

  2. Law enforcement
    Under certain circumstances, the Company may be required to disclose Your Personal Data if required to do so by law or in response to valid requests by public authorities (e.g. a court or a government agency).

  3. Other legal requirements
    The Company may disclose Your Personal Data in the good faith belief that such action is necessary to comply with a legal obligation or protect and defend the rights or property of the Company or Prevent or investigate possible wrongdoing in connection with the Service or protect the personal safety of Users of the Service or the public or protect against legal liability.

Security of Your Personal Data

  • The security of Your Personal Data is important to Us, but remember that no method of transmission over the Internet, or method of electronic storage is 100% secure. While We strive to use commercially acceptable means to protect Your Personal Data, We cannot guarantee its absolute security.

Children's Privacy

  • Our Service does not address anyone under the age of 13. We do not knowingly collect personally identifiable information from anyone under the age of 13. If You are a parent or guardian and You are aware that Your child has provided Us with Personal Data, please contact Us. If We become aware that We have collected Personal Data from anyone under the age of 13 without verification of parental consent, We take steps to remove that information from Our servers. If We need to rely on consent as a legal basis for processing Your information and Your country requires consent from a parent, We may require Your parent's consent before We collect and use that information.

Links to Other Websites

  • Our Service may contain links to other websites that are not operated by Us. If You click on a third party link, You will be directed to that third party's site. We strongly advise You to review the Privacy Policy of every site You visit. We have no control over and assume no responsibility for the content, privacy policies or practices of any third party sites or services.

Changes to this Privacy Policy

  • We may update Our Privacy Policy from time to time. We will notify You of any changes by posting the new Privacy Policy on this page. We will let You know via email and/or a prominent notice on Our Service, prior to the change becoming effective and update the "Last updated" date at the top of this Privacy Policy. You are advised to review this Privacy Policy periodically for any changes. Changes to this Privacy Policy are effective when they are posted on this page.

Contact Us

If you have any questions about this Privacy Policy, You can contact us:

  • By visiting this page on our website: otion.ae or through following e-mail address;

​info@otion.ae


TERMS OF USE


1. ACCEPTANCE

    1. These Terms of Use are entered into by and between you (hereinafter referred to as “you”, “your” or “Client”) and Otion Trading Intermediary-LLC with its registered address at Abu Dhabi, UAE (hereinafter referred to as “Company”, “we”, “our” or “us”). The following terms and conditions, together with any documents/links expressly incorporated by reference (collectively, hereinafter referred to as the “Terms of Use”), govern your access to and use of our website at otion.ae (the “Site”), which serves as a marketplace facilitating business acquisitions, allowing business sellers to list their businesses and potential buyers to connect with them; hereinafter referred as the “Services“), which includes but not limited to any content, product, functionality and/or services offered on or through the foregoing, whether as a guest or a registered user. The materials contained in this Services are protected by applicable copyright and trademark law.
       
    2. PLEASE READ THE TERMS OF USE CAREFULLY. BY USING THE SITE AND SERVICES, YOU AGREE TO BE BOUND AND ABIDE BY THE TERMS SET FORTH HEREIN AND OUR PRIVACY POLICY FOUND AT SITE (THE “PRIVACY POLICY”), WHICH IS INCORPORATED HEREIN BY REFERENCE. IF YOU DO NOT WISH TO BE BOUND BY THE TERMS OF USE OR PRIVACY POLICY, YOU MAY NOT USE THE SITE AND SERVICES. IF YOU ARE USING THE SITE OR UTILIZING THE SERVICES ON BEHALF OF A BUSINESS OR SOME OTHER ENTITY, YOU REPRESENT AND WARRANT THAT YOU ARE AUTHORIZED TO GRANT ALL LICENSES SET FORTH IN THESE TERMS OF USE AND TO AGREE TO THESE TERMS OF USE ON BEHALF OF THE BUSINESS OR ENTITY.


2. ACCESS AND USE

    1. The Site along with Services is offered and available to users for informational purposes and allows users to engage in serves as a marketplace facilitating business acquisitions, allowing business sellers to list their businesses and potential buyers to connect with them as further detailed out in the Site. The Client expressly agrees and acknowledges to that Company shall not be liable in any manner whatsoever for the decisions made by Client based on the information and content available on the Site and/or through the provided Service.
       
    2. You agree to use the Site and Service only for lawful purposes and in accordance with these Terms of Use. By using the Services, you represent and warrant that you are of legal age to form a binding contract with the Company and meet all of the foregoing eligibility requirements. If you do not meet all of these requirements, you must not access or use the Services.
       
    3. You agree to not use Services to conduct any activity that would constitute a civil or criminal offence or violate any law. You agree not to attempt to interfere with our Site, Services, network or security features or to gain unauthorized access to our systems.
       
    4. These Terms of Use set out the conditions upon which the Company has agreed to grant you the access to the Site and Services following the posting of revised terms of use means that you accept and agree to the changes. You are expected to check our Services from time to time so you are aware of any changes, as they are binding on you.


3. ACCESSING THE SITE/SERVICES AND ACCOUNT SECURITY

    1. We reserve the right to withdraw or amend the Site or Services, and any service or material we provide on the Site, in our sole discretion without notice. We will not be liable if for any reason all or any part of the Site is unavailable at any time or for any period. From time to time, we may restrict access to some or all parts of the Services, to users, including registered users.
       
    2. You are responsible for: (i) making all arrangements necessary for you to have access to the Site and Services; and (ii) ensuring that all persons who access the Services through your internet connection are aware of these Terms of Use and comply with them.
       
    3. To access the Services or some of the resources it offers, you may be asked to provide certain registration details and in order to do so you will have to provide accurate personal information, such as your email address, mailing address and other contact details in order to complete your order or contact you as needed or other information. It is a condition of your use of the Services that all the information you provide on the Services is accurate, current and complete. You agree that all information you provide to register with the Services or otherwise, including but not limited to through the use of any interactive features on the Services, is governed by our Privacy Policy, and you consent to all actions we take with respect to your information consistent with our Privacy Policy. You agree to promptly update your account and information. You authorize us to collect and use this information to contact you in accordance with our Terms of Use and Privacy Policy.
       
    4. If you choose, or are provided with, a username, password or any other piece of information as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any other person or entity. You agree to notify us immediately of any unauthorized access to or use of your username or password or any other breach of security. You also agree to ensure that you exit from your account at the end of each session. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information.
       
    5. WE HAVE THE RIGHT TO DISABLE ANY USER NAME, PASSWORD OR OTHER IDENTIFIER, WHETHER CHOSEN BY YOU OR PROVIDED BY US, AT ANY TIME IN OUR SOLE DISCRETION FOR ANY OR NO REASON, INCLUDING IF, IN OUR OPINION, YOU HAVE VIOLATED ANY PROVISION OF THESE TERMS OF USE OR THE TERMS OF ANY OTHER COMMERCIAL AGREEMENT YOU HAVE ENTERED INTO WITH COMPANY. YOU MAY NOT CREATE ANOTHER ACCOUNT IF WE HAVE DISABLED YOUR ACCOUNT UNLESS YOU OBTAIN OUR PRIOR WRITTEN CONSENT.


4. OWNERSHIP 

    1. All rights, title and interest in and to the Services will remain with and belong exclusively to us. You will not sublicense, resell, rent, lease, transfer, assign, time share or otherwise commercially exploit or make Services content available to any third party.
       
    2. You agree not to access Services by any means other than through the interface that is provided by Services to access the same. You may not use any “page-scrape,” “deep-link,” “spider,” or “robot or other automatic program, device, algorithm or methodology, or any similar manual process, to access, copy, acquire, or monitor any portion of Services, or in any way reproduce or circumvent the presentation or navigational structure of Services, to obtain or attempt to obtain any content or other information through any means not made generally available through Services. Services reserves the right to take any lawful measures to prevent any such activity. You shall not forge headers or otherwise manipulate identifiers in order to disguise the origin of any message or transmittal you send to Services on or through the Site or any service offered on or through Services. You may not pretend that you are, or that you represent, someone else, or impersonate any other individual or entity.
       
    3. License Restrictions. Information, content or material that may be available for downloading through the Site or third-party websites or applications (“Content”) is the copyrighted work of the Company, its licensors, and/or such other respective third-party providers. Use of the Content is governed by these Terms of Use and such license and/or other terms as may be required directly of you by the third-party providers. Unauthorized reproduction or distribution of the Content is expressly prohibited by law, and may result in civil and criminal penalties. Violators may be prosecuted. 


5. INTELLECTUAL PROPERTY RIGHTS

    1. The Services and its entire contents, features and functionality, all rights, titles, and interest in and to the Services (including but not limited to all information, software, text, displays, images, video and audio, and the design, selection and arrangement, copyright, thereof), are owned by the Company, its affiliates, its licensors and are protected by the applicable international copyright, trademark, patent, trade secret and other intellectual property or proprietary rights laws.
       
    2. You acknowledge, however, that the intellectual property rights and data underlying the Content, including but not limited to, any processes, methods, tools, templates, designs, known-how, data, information, copyrights, patents, trademarks, trade secrets, and other associated intellectual property, including any improvements, inventions or derivate works made with respect to the foregoing, remain the sole property of Company (“Intellectual Property”).
       
    3. By posting your information and other content (“User Content”) on or through Services, you grant the Company a worldwide, non-exclusive, perpetual, irrevocable, royalty-free, fully paid, sublicensable and transferable license to use, modify, reproduce, distribute, display, publish and perform User Content in connection with the Site and Services. The Company may remove or disable any User Content at any time for any reason, or for no reason at all.
       
    4. These Terms of Use permit you to use the Services for your individual, non-commercial use only. You must not reproduce, distribute, modify, create derivative works of, publicly display, publicly perform, republish, download, store or transmit any of the material on the Services. You must not: (i) modify copies of any materials from the Services; (ii) delete or alter any copyright, trademark or other proprietary rights notices from copies of materials from the Services; or (iii) access or use for any commercial purposes any part of the Services or any services or materials available through the Services. For purposes of clarity, prohibited commercial uses shall not include satisfying the terms of any commercial agreement entered into between you and the Company.
       
    5. If you print, copy, modify, download or otherwise use or provide any other person with access to any part of the Services in breach of the Terms of Use, your right to use the Services will cease immediately and you must, at our option, return or destroy any copies of the materials you have made. No right, title or interest in or to the Services or any content on the Services is transferred to you, and all rights not expressly granted are reserved by the Company. Any use of the Services not expressly permitted by these Terms of Use is a breach of these Terms of Use and may violate copyright, trademark and other laws.


6. TRADEMARKS

    1. The Company name, Company logo and all related names, logos, product and service names, designs and slogans are trademarks of the Company or its affiliates or licensors. You must not use such marks without the prior written permission of the Company. All other names, logos, product and service names, designs and slogans on the Services are the trademarks of their respective owners.


7. RESTRICTIONS ON THE USE OF THE SITE

    1. By using the Site and Services, you specifically agree not to be involved in any activity or transmit any information that, in our sole discretion:
      1. Is illegal, or violates any federal, state, or local law or regulation;
      2. Advocates illegal activity or discusses illegal activities with the intent to commit them;
      3. Violates any third-party right, including, but not limited to, right of privacy, right of publicity, copyright, trademark, patent, trade secret, or any other intellectual property or proprietary rights;
      4. Is harmful, threatening, abusive, harassing, tortious, indecent, defamatory, sexually explicit or pornographic, discriminatory, vulgar, profane, obscene, libelous, hate speech, violent or inciting violence, inflammatory, or otherwise objectionable;
      5. Interferes with any other party’s use and enjoyment of the Site;
      6. Attempts to impersonate another person or entity;
      7. Is of a commercial nature in a way that violates these Terms of Use, including but not limited to, using the Site for spam, surveys, contests, pyramid schemes, or other advertising materials;
      8. Falsely states, misrepresents, or conceals your affiliation with another person or entity;
      9. Accesses or uses the Services account of a customer without such customer’s permission;
      10. Distributes computer viruses or other code, files, or programs that interrupt, destroy, or limit the functionality of any computer software or hardware or electronic communications equipment;
      11. Interferes with, disrupts, disables, overburdens, or destroys the functionality or use of any features of the Site, or the servers or networks connected to the Site;
      12. “Hacks” or accesses without permission our proprietary or confidential records, those of another user, or those of anyone else;
      13. Improperly solicits personal or sensitive information from other users including without limitation address, credit card or financial account information, or passwords;
      14. Decompiles, reverse engineers, disassembles, or otherwise attempts to derive source code from the Site, except as expressly permitted in these Terms of Use or by law, unless and then only to the extent permitted by applicable law without our consent;
      15. Removes, circumvents, disables, damages, or otherwise interferes with security-related features, or features that enforce limitations on use of the Site;
      16. Uses automated or manual means to violate the restrictions in any robot exclusion headers on the Site, if any, or bypasses or circumvents other measures employed to prevent or limit access, for example by engaging in practices such as “screen scraping,” “database scraping,” or any other activity with the purpose of obtaining lists of users or other information;
      17. Modifies, copies, scrapes or crawls, displays, distributes, publishes, licenses, sells, rents, leases, lends, transfers, or otherwise commercializes any materials or content on the Site;
      18. Downloads, distributes, posts, transmits, performs, reproduces, broadcasts, duplicates, uploads, licenses, creates derivative works from, or offers for sale any content or other information contained on or obtained from or through the Site, by any means except as provided for in these Terms of Use or with the prior written consent of the Services; or
      19. Attempts to do any of the foregoing.
         
    3. Any violation of this Clause may, in our sole discretion, result in termination of your use of and access to the Site and Services effective immediately.


8. DATA SHARING AND USE OF THIRD-PARTY TOOLS

    1. By using our Services, you acknowledge and agree that we may share your data with third-party providers, online tools, and platforms that are essential for delivering our services effectively. The purpose of sharing this information is strictly to facilitate, enhance, and complete the services you have engaged us for.
       
    2. While we take reasonable steps to ensure that all third-party providers comply with applicable data protection regulations and maintain secure practices, we cannot be held responsible for any errors, unauthorized access, data breaches, delays, or other issues arising from the independent actions, practices, or policies of these third parties. The use of online services inherently carries certain risks, and by agreeing to these Terms of Use, you accept those risks and acknowledge that we shall not be liable for any loss or damage resulting from the involvement of third-party providers in our service delivery.
       
    3. Additionally, it is your responsibility to provide accurate and up-to-date information that can be processed by these third-party tools. Any incorrect, incomplete, or outdated information provided by you that leads to errors, omissions, or inaccuracies in the services delivered will not be our responsibility, and we shall not be liable for any resulting consequences.


9. CONFIDENTIALITY

    1. Our “Confidential Information” means (a) any written information, materials and other documents supplied by us related to the Services which we do not generally disclose publicly, (b) the Services themselves, excluding any data you upload to the Services for processing;  and (c) any other of our information that we may disclose in writing or orally and is designated as confidential or proprietary at the time of disclosure, or that due to the nature of the information a reasonable person would clearly understand it to be confidential information; and (d) any amendment to the terms and conditions of these Terms of Use between you and us.

    2. Confidential Information shall not include any information that: (i) was or becomes generally known to the public through no fault or breach of these Terms of Use; (ii) was rightfully in your possession at the time of disclosure without restriction on use or disclosure; (iii) was independently developed by you without use of our Confidential Information; or (iv) was rightfully obtained by you from a third party not under a duty of confidentiality and without restriction on use or disclosure.

    3. During and after the term, with respect to our Confidential Information you will: (a) use our Confidential Information solely for the purpose for which we provided it; (b) not disclose such Confidential Information to a third party; and (c) protect such Confidential Information from unauthorized use and disclosure to the same extent (but using no less than a reasonable degree of care) that you protect your own Confidential Information of a similar nature.

    4. If you are required by law to disclose our Confidential Information, you will give us prompt written notice before making the disclosure, unless prohibited from doing so by the legal or administrative process, and assist us to obtain where reasonably available an order protecting our Confidential Information from public disclosure.

    5. Notwithstanding any other provision of these Terms of Use, you acknowledge that, as between you and us, all our Confidential Information you receive from us, including all copies thereof in your possession or control, in any media, is proprietary to and exclusively owned by us. Nothing in these Terms of Use grants you any right, title or interest in or to any of our Confidential Information, except as provided in these Terms of Use. Any incorporation of our Confidential Information into any of your own materials will not render our Confidential Information non-confidential.


10. PRIVACY LAWS AND GENERAL DATA PROTECTION REGULATION (‘GDPR’)

    1. You will ensure compliance with the provision of the Company’ Privacy Policy which are incorporated herein by reference along with all the applicable privacy related legislative instruments, including but not limited to the requirements of the Data Protection Legislation. (‘GDPR’).
       
    2. You will ensure that you have all necessary appropriate consents and notices in place to enable lawful transfer of the personal data to the Company.


11. USER-PROVIDED MATERIALS

    1. The Services may allow users to post, submit, publish, display or transmit to other users or other persons (hereinafter, “post”) content or materials or feedback (collectively, “User-Provided Materials“) on or through the Services.  All User-Provided Materials must comply with the Content Standards set forth below. 

    2. Any User-Provided Materials you post to the Services will be considered non-confidential and non-proprietary. By providing any User-Provided Materials on the Services, you grant us and our affiliates and service providers, and each of their and our respective licensees, successors and assigns the right to use, reproduce, modify, perform, display, distribute, promote, broadcast, and otherwise disclose to third parties any such material for any purpose in any and all media or distribution methods now known or later developed. 

    3. To the extent you appear in, create, upload, post, or send User-Provided Materials, you hereby grant Company and our respective licensees, successors and assigns, the unrestricted, worldwide, perpetual right and license to use your name, likeness, and voice, including in connection with commercial or sponsored content. You acknowledge that you will not be entitled to any compensation from Company, our affiliates, or our business partners if your name, likeness, or voice is conveyed through the Services, either on the Services or on one of our business partner’s Servicess. 

    4. You represent and warrant that: (i) you own or control all rights in and to the User-Provided Materials and have the right to grant the license granted above to us and our affiliates and service providers, and each of their and our respective licensees, successors and assigns; and (ii) all of your User-Provided Materials do and will comply with these Terms of Use.

    5. You understand and acknowledge that you are responsible for any User-Provided Materials you submit or contribute, and you, not the Company, have full responsibility for such content, including its legality, reliability, accuracy and appropriateness. 

    6. We are not responsible, or liable to any third party, for the content or accuracy of any User-Provided Materials posted by you or any other user of the Services.


12. LINKS TO THIRD-PARTY WEBSITES

    1. As and if applicable, links from or to websites outside our Site are meant for convenience only. This includes links contained in advertisements, including banner advertisements and sponsored links. We do not review, endorse, approve or control, and are not responsible for any sites or resources linked from or to our website, the content of those sites, the third parties named therein, or their products and services. If you decide to access any of the third-party websites linked to the Services, you do so entirely at your own risk and subject to the terms and conditions of use for such websites.​


13. LIMITATION OF LIABILITY

    1. IN NO EVENT WILL THE COMPANY BE LIABLE UNDER ANY THEORY OF LIABILITY, WHETHER IN AN EQUITABLE, LEGAL, OR COMMON LAW ACTION ARISING HEREUNDER FOR CONTRACT, STRICT LIABILITY, INDEMNITY, TORT (INCLUDING NEGLIGENCE), ATTORNEYS FEES AND COSTS, OR OTHERWISE, FOR DAMAGES WHICH, IN THE AGGREGATE, EXCEED THE AMOUNT OF THE FEES PAID BY YOU OVER A ONE MONTH PERIOD PRECEDING THE CLAIM, FOR THE SERVICES WHICH GAVE RISE TO SUCH DAMAGES.
       
    2. IN NO EVENT WILL THE COMPANY BE LIABLE FOR ANY SPECIAL, INCIDENTAL, INDIRECT, EXEMPLARY, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND AND HOWEVER CAUSED INCLUDING, BUT NOT LIMITED TO, ATTORNEYS FEES AND COSTS, BUSINESS INTERRUPTION OR LOSS OF PROFITS, BUSINESS OPPORTUNITIES, OR GOODWILL.
       
    3. THE COMPANY EMPLOYS REASONABLE EFFORTS TO ENSURE THE ACCURACY AND QUALITY OF ITS SERVICES. HOWEVER, THE COMPANY SHALL NOT BE LIABLE FOR ANY LOSSES, LEGAL CONSEQUENCES, OR DAMAGES ARISING FROM ERRORS, OMISSIONS, OR MISTAKES MADE BY ITS EMPLOYEES, CONTRACTORS, OR AGENTS DURING THE PROVISION OF SERVICES. THE CLIENT IS SOLELY RESPONSIBLE FOR INDEPENDENTLY VERIFYING ALL FINANCIAL DATA AND REPORTS BEFORE FINAL SUBMISSION OR RELIANCE ON THE COMPANY’S OUTPUT


14. INDEMNIFICATION

    1. You agree to defend, indemnify and hold harmless the Company, its affiliates, licensors, its service providers, and its and their respective officers, directors, employees, contractors, agents, licensors, suppliers, successors and assigns from and against any claims, liabilities, damages, judgments, awards, losses, costs, expenses or fees (including reasonable attorneys’ fees) arising out of or relating to your violation of these Terms of Use or your use of the Services, including, but not limited to, your User Content, any use of the Site’s content, services and products other than as expressly authorized in these Terms of Use or your use of any information obtained from the Services.


15. GOVERNING LAW AND JURISDICTION

    1. THESE TERMS OF USE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND SHALL BE GOVERNED BY, THE LAWS OF UNITED ARAB EMITRATES EXCLUDING ITS CHOICE-OF-LAW RULES.

    2. Any disputes arising out of or relating to these Terms of Use or the Services will be resolved through binding arbitration in the United Arab Emirates, in accordance with the rules of the Dubai International Arbitration Centre (DIAC). The arbitration will be conducted in English, and the arbitrator's decision will be final and binding.

    3. However, other than with respect to seeking injunctive relief in connection with matters that qualify for such an extraordinary remedy under applicable law, neither Party may initiate any litigation against the other Party until after providing clear written notice of its intention to do so and first making a good faith effort to resolve the dispute informally through escalation to an appropriate level of executive management of both Parties for at least thirty (30) days after providing such notice.


16. FORCE MAJEURE

    1. The Company will not be liable to you for any delay or failure of Services to fulfil its obligations hereunder if such delay or failure arises from any cause or causes beyond the reasonable control of the Company. Such causes will include, but are not limited to, acts of God, floods, fires, loss of electricity, pandemic, epidemic, quarantines, lockdowns, or delays by user in providing required resources or support or performing any other requirements hereunder.


17. WAIVER AND SEVERABILITY

    1. No waiver of by the Company of any term or condition set forth in these Terms of Use shall be deemed a further or continuing waiver of such term or condition or a waiver of any other term or condition, and any failure of the Company to assert a right or provision under these Terms of Use shall not constitute a waiver of such right or provision.
       
    2. If any provision of these Terms of Use is held by a court or other tribunal of competent jurisdiction to be invalid, illegal or unenforceable for any reason, such provision shall be eliminated or limited to the minimum extent such that the remaining provisions of the Terms of Use will continue in full force and effect.


18. ASSIGNMENT AND ENTIRE AGREEMENT

    1. You shall not assign any of your rights or obligations under these Terms of Use without our prior written consent. We may freely assign our rights and obligations under these Terms without restriction. The Terms of Use and our Privacy Policy constitute the sole and entire agreement between you and the Company, with respect to the Site along with Services and supersede all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral.


19. DISCLAIMER OF WARRANTIES

    1. THE COMPANY HEREBY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT AND FITNESS FOR PARTICULAR PURPOSE.

    2. WE WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY A DISTRIBUTED DENIAL-OF-SERVICE ATTACK, VIRUSES OR OTHER TECHNOLOGICALLY HARMFUL MATERIAL THAT MAY INFECT YOUR COMPUTER EQUIPMENT, COMPUTER PROGRAMS, DATA OR OTHER PROPRIETARY MATERIAL DUE TO YOUR USE OF THE SERVICES OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE SERVICES OR TO YOUR DOWNLOADING OF ANY MATERIAL POSTED ON IT, OR ON ANY WEBSITE LINKED TO IT.

    3. YOUR USE OF THE SERVICES, ITS CONTENT AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE SITE IS AT YOUR OWN RISK. THE SITE, ITS CONTENT AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE SERVICES (INCLUDING, BUT NOT LIMITED TO, THE DOCUMENTATION) ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. NEITHER THE COMPANY NOR ANY PERSON ASSOCIATED WITH THE COMPANY MAKES ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY OR AVAILABILITY OF THE SERVICES. WITHOUT LIMITING THE FOREGOING, NEITHER THE COMPANY NOR ANYONE ASSOCIATED WITH THE COMPANY REPRESENTS OR WARRANTS THAT THE SERVICES, ITS CONTENT OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE SERVICES WILL BE ACCURATE, RELIABLE, ERROR-FREE OR UNINTERRUPTED, THAT DEFECTS WILL BE CORRECTED, THAT THE SERVICES OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS OR THAT THE SERVICES OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE SERVICES WILL OTHERWISE MEET YOUR NEEDS OR EXPECTATIONS.

    4. THE FOREGOING DOES NOT AFFECT ANY WARRANTIES WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.


DATA PROCESSING AGREEMENT


Effective Date: 24 August, 2024

This Data Processing Agreement (“DPA”) is entered into between OTION TRADING INTERMEDIARY LLC (“Company”), a corporation organized under the laws of the UAE with its principal place of business located at Abu Dhabi, UAE, and you, as a user of the Company’s platform (the “User”). By accessing or using our Platform, you agree to the terms of this DPA.

1. Introduction

1.1 Purpose: The Company operates an online platform known as Otion.ae (“Platform”), facilitating business acquisitions by allowing business sellers to list their businesses and potential buyers to connect with them.

1.2 Scope: This DPA governs the processing of personal data provided by Users (both sellers and buyers) as part of their use of the Platform. The Company acts as the Data Processor, and the User acts as the Data Controller.

1.3 Compliance: The Company and the User agree to comply with all applicable data protection laws, including but not limited to the UAE Federal Decree-Law No. 45 of 2021 on the Protection of Personal Data (PDPL) and, where applicable, the General Data Protection Regulation (GDPR).

2. Definitions

2.1 Personal Data: Any information relating to an identified or identifiable natural person as defined by the PDPL.

2.2 Processing: Any operation performed on Personal Data, including collection, storage, use, transfer, or deletion.

2.3 Data Controller: The User who determines the purposes and means of the processing of Personal Data.

2.4 Data Processor: The Company, which processes Personal Data on behalf of the Data Controller.

2.5 Sub-Processor: Any third party engaged by the Company to assist in processing Personal Data.

2.6 Applicable Data Protection Laws: All data protection and privacy laws applicable to the processing of Personal Data under this Agreement, including but not limited to the PDPL and the GDPR (for users subject to EU jurisdiction).

3. Roles and Responsibilities

3.1 User Responsibilities:

  • Users bear sole responsibility for determining the purposes and legal basis for processing Personal Data in compliance with the PDPL and other applicable laws.
  • Users must ensure that all Personal Data provided to the Company is lawfully collected, accurate, complete, and up-to-date.
  • Users are responsible for obtaining all necessary consents, permissions, and authorizations required for the lawful collection, processing, and transfer of Personal Data.

3.2 Company Responsibilities:

  • The Company processes Personal Data strictly according to the documented instructions provided by the User, within the boundaries of this DPA and in compliance with the PDPL.
  • The Company implements technical and organizational measures necessary to ensure secure and efficient processing of Personal Data, meeting industry standards and the requirements of the PDPL.

3.3 Security Measures:

  • The Company determines and implements appropriate security measures to safeguard the integrity, availability, and confidentiality of Personal Data, including encryption, access controls, and regular security assessments.

4. Data Processing Scope

4.1 The processing activities covered by this DPA encompass all actions necessary to facilitate the Platform’s functionality. This includes, but is not limited to, the collection, storage, use, and disclosure of Personal Data for purposes defined by the User.

4.2 The Company may also process Personal Data for ancillary purposes necessary to ensure the security, integrity, and continuous operation of the Platform, as well as for complying with applicable legal obligations.

4.3 The Company may use non-personal business-related information provided by the User (such as business details, listing information, etc.) for marketing and promotional purposes. However, sensitive documents like IDs, passports, and visas will remain confidential and will not be disclosed.

5. Data Subject Rights

5.1 The Company will assist Users in responding to data subject requests, such as access, rectification, or deletion of Personal Data, in accordance with the PDPL and GDPR (where applicable).

5.2 The User is primarily responsible for handling and responding to all data subject requests in accordance with applicable laws.

5.3 In cases where the Company receives direct requests from data subjects, the User will be promptly notified. The Company will not act on these requests without the User’s explicit and documented instructions unless required by law.

5.4 Any costs incurred by the Company in assisting with data subject requests may be charged to the User. The Company reserves the right to refuse requests for assistance that are unreasonable or beyond the scope of its obligations.

6. Data Breach Notification

6.1 The Company will notify the User without undue delay, and no later than 72 hours after becoming aware of any confirmed incident involving unauthorized access, disclosure, alteration, or destruction of Personal Data (“Data Breach”), in compliance with the PDPL.

6.2 The notification will include sufficient information to help the User meet any regulatory obligations, including the nature of the breach, the categories of Personal Data affected, the likely consequences, and the measures taken or proposed to address the breach.

6.3 The Company’s obligation to notify and assist in connection with a Data Breach is subject to the User providing accurate and up-to-date contact information.

6.4 In fulfilling its obligations under this section, the Company is entitled to recover from the User any reasonable costs and expenses incurred in managing and responding to the Data Breach.

7. Data Retention and Deletion

7.1 The Company will retain Personal Data for the duration necessary to fulfill the purposes for which it was collected, as specified by the User, and in accordance with the PDPL.

7.2 Upon termination or deactivation of the User’s account, the Company will, at its discretion, either delete or return all Personal Data processed on behalf of the User, unless continued retention is required by law or for legitimate business purposes.

7.3 Users are responsible for downloading, backing up, or otherwise securing any data they wish to retain prior to account deactivation or termination.

7.4 The Company reserves the right to maintain records of any transactions, communications, or actions taken by the User on the Platform as part of its legal or compliance obligations.

8. International Data Transfers

8.1 The Company may transfer Personal Data to jurisdictions outside the UAE, including countries with different data protection standards, as necessary for the operation of the Platform.

8.2 Such transfers will be carried out in compliance with the PDPL, and the Company will implement appropriate safeguards to ensure the protection of Personal Data.

8.3 By using the Platform, Users consent to the transfer of their Personal Data as necessary to facilitate the Platform’s operation.

9. Term and Termination

9.1 This DPA remains effective until terminated by either party. The Company may terminate or suspend this DPA with 30 days’ notice.

9.2 Immediate termination may occur if the User breaches any material terms, engages in harmful activities, or becomes insolvent.

9.3 Upon termination, the User must cease all use of the Platform, and the Company may disable the User’s access without further notice.

10. Limitation of Liability

10.1 The Company’s liability for any breach of this DPA is limited to the total fees paid by the User for services rendered through the Platform in the six months preceding the claim.

10.2 The Company is not liable for indirect, incidental, or consequential damages, including loss of profits, revenue, or data.

10.3 The User agrees to indemnify and hold the Company harmless from any claims or liabilities arising from the User’s breach of this DPA or unlawful data processing activities.

11. Indemnification

11.1 The User agrees to fully indemnify, defend, and hold harmless the Company from any claims, demands, actions, or suits arising out of:

  • The User’s failure to comply with data protection laws.
  • The provision of inaccurate or unlawful Personal Data.
  • Any claims brought by data subjects or third parties regarding the User’s data processing activities.

12. Governing Law and Dispute Resolution

12.1 This DPA is governed by the laws of the United Arab Emirates.

12.2 Any disputes shall be resolved through good faith negotiations. If unresolved, disputes will be referred to the Dubai International Arbitration Centre (DIAC) for final resolution.

12.3 The arbitration will be conducted in English in Dubai, UAE.

13. Miscellaneous

13.1 Entire Agreement: This DPA constitutes the entire agreement between the parties with respect to data processing.

13.2 Severability: If any provision is found to be unenforceable, the remaining provisions will remain in full effect.

13.3 Amendments: The Company reserves the right to update or amend this DPA. Continued use of the Platform constitutes acceptance of any updates.

13.4 Force Majeure: The Company shall not be liable for any failure to perform its obligations under this DPA due to circumstances beyond its control, including natural disasters, cyberattacks, or government actions.

13.5 Notices: Any notices under this DPA shall be in writing and delivered to the contact details provided by the parties. Notices to the Company should be sent to [insert email/contact information].

13.6 Assignment: The User may not assign or transfer their rights or obligations under this DPA without the prior written consent of the Company. The Company may freely assign or transfer this DPA without restriction.

By using the Platform, you agree to the terms outlined in this Data Processing Agreement.

For any questions regarding this DPA, please contact us at info@otion.ae.