Terms & Conditions
Home Terms & Conditions
Big Bits reserves the right of changing Operational Rules at any time desired. Such changes shall be valid and binding after they are announced on the Website. You are responsible for keeping up with the changes. Big Bits is not obliged to inform you individually about the changes. If you continue using services offered by Big Bits, you will be considered as accepted these changes.
Big Bits is a third party data aggregator for Iron and Steel Sector having its registered office of No 152, Sector 20 Block B, Dist : Fathegarh Sahib (Punjab). It collects information and data in context to prices, exports and imports, and production from varied sources based in India and outside India. Its objective is to conduct transparent and unbiased data analysis and research in order to help its clients make an informed decision.
The Subscriber is any entity or person which subscribes to the services provided by Steel Trade, either online or through SMS, or any other mode that the parties may agree. The parties hereby agree as follows:
1. FORMATION OF THE CONTRACT
The process of registration or subscription to Big Bits’s services shall conclude upon receipt of the requisite subscription charges, as prevalent, at the time of such registration. A Contract with the Subscriber for receipt of the services pursuant to subscription to Big Bits’s services will come into effect when User Register and generate the Id and Password.
Unless otherwise agreed in writing, Big Bits shall charge the Subscriber either in Indian Rupees or US Dollars. The Subscriber shall also pay any taxes, as applicable, levied under any applicable law.
The Subscription Price is set out in the webpage on Big Bits’s website, which mentions the Subscription Process. The Subscriber may take an annual subscription, which will not be-renewed automatically. Big Bits will notify the Subscriber 15 days in advance regarding the expiry of its subscription along with the prevailing Subscription Price. The Subscriber then, will have to manually renew the subscription by payment of the Subscription Fee for the extended period. The Subscriber shall remain informed that its Internet Service Provider and/or telephone operator may separately charge it for the time spent accessing Big Bits’s website in the manner agreed between the Subscriber and its Internet Service Provider.
The Subscriber warrants that it is legally capable of entering into binding contracts.
The Subscriber warrants that the registration is for a single user only, unless Big Bits agrees otherwise in writing.
The Subscriber further warrants that all the information provided to Big Bits during the registration process is true and accurate. If the Subscriber provides Big Bits with an e-mail address, that will result in e-mails or SMS/Mobile Notifications that Big Bits sends to the Subscriber via a computer or telephone network operated or owned by a third party, then, the Subscriber warrants that the Subscriber is entitled to receive those messages. Big Bits allows the Subscriber access to the subscription services on the basis that:
The Subscriber’s user name and password are personal to it and may not be used by anyone else;
The Subscriber will not do anything which would assist anyone who is not a registered user to gain access to any registration area of Big Bits’s website;
The Subscriber does not maliciously create additional usernames for the purpose of abusing the functionality of Big Bits’s website, or other users; nor does it seek to pass itself off as another user by adopting a similar username;
If for any reason, Steel Trade comes to believe that the Subscriber has not complied with these requirements or any other provision of these Terms, Big Bits may, at its discretion, cancel the Subscriber’s access to the Subscription Services. If Big Bits decides to terminate the Subscriber’s registration, it shall do so by emailing the Subscriber at its registered address stating that its registration has been terminated. Pursuant thereto, the Subscriber’s username and password will become invalid immediately.
3. NON-CONFLICT OF INTEREST
Big Bits expressly reserves the right to contract with others to provide services similar or identical to those provided under this Agreement to the Subscriber, however, the Subscriber shall not share any information regarding the services with Big Bits’s competitors during the term of this Agreement, and one (1) year thereafter.
4. COPYRIGHT AND LIMITATIONS ON USE
The Content displayed or received by the Subscriber through the subscription to Big Bits services is the property of Big Bits or its licensors, and is protected by Copyright and other Intellectual Property Laws. Big Bits’s website and the Content may be used only for the Subscriber’s personal and noncommercial use. Reproduction of part or all of the Contents of Big Bits’s website in any form is expressly prohibited. Access to the information on Big Bits’s website shall in no manner imply any right or permission to copy, or allow for incorporation of any material, or any part therein, in any work or publication not limited to any other form. By accessing Big Bits’s website, the Subscriber agrees that reproduction, printing, re-transmission, copying, distribution, publishing or selling of any Content provided on Big Bits’s website is expressly prohibited. In particular, and without limitation, the Subscriber expressly agrees that it shall not post any Content from Big Bits’s website to any email lists, newsgroups or electronic bulletin boards, without the prior written consent of Big Bits. To request consent for matters, the Subscriber may contact Big BIts at www.bigbits.in. All rights (including Copyright) in relation to the Information/Content on Big Bits’s website exclusively belong to Big Bits. Any violation(s) by the Subscriber or any person acting on its behalf shall subject the Subscriber to legal consequences, not limited to damages, fines/penalties, and any other necessary court action.
The Subscriber hereby acknowledges that it has subscribed to Steel Trade’s website, in order to receive email, SMS, mobile notification of news, information, and understand the Iron & Steel industry, against which it pays a nominal Subscription Fee.
Big BIts has taken due care and caution in compilation of the Content for its website. The Content includes facts, views, and opinions, which are of individuals and not that of the website or its management. Big Bits and its Content licensors do not give any investment advice, tax advice, legal advice, or other professional advice. Big Bits and its Content licensors do not guarantee or warrant the accuracy, completeness or timeliness of, or otherwise endorse these views, and opinions. Big Bits advises the Subscriber should always seek the assistance of a professional for advice on investments, tax, the law, or other professional matters. Steel Trade especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
Big Bits is not responsible for any errors, omissions, losses or representations on any of its pages or on any links on any of its pages. Big Bits does not endorse in anyway any advertisers on its webpages. Big Bits advises its Subscribers to verify the veracity of all information before undertaking any alliance.
6. PROPRIETARY RIGHTS
International copyright, database right and other intellectual property rights owned by Big Bits or third party licensors protect Big Bits’s Content. All product and company names and logos mentioned on Big Bits’s website may be trademarks, service marks or trading names of their respective owners, including Big Bits.
The Subscriber may display the Content to one person electronically on a single computer, download and store one copy of the information in machine readable form, print (but not photocopy) one copy of the information and store such pages for caching purposes only. Except in the case of information the Subscriber has placed on Big Bits’s website, the Subscriber may not do any of the following without Big Bits’s prior written consent, or the prior written consent of the owner of the intellectual property rights, as the case may be:
download, display or store any of the Content otherwise than as permitted above;
modify, reproduce, transmit, publish, display, copy, distribute, broadcast, adapt, create derivative works of or in any way commercially exploit any of the Content;
sub-license, rent, lease, transfer or attempt to assign the rights in the Content to any other person, make the materials available on a network, use the information in any manner, or transfer or export the Content or any copies into any country, other than in compliance with these Terms and with applicable laws or allow any other person to use the information other than in accordance with the Terms and the subscription agreement;
redistribute any of the Content (including using it as part of any library, archive or similar service);
remove the copyright or trade mark notice(s) from any copies of the Content permitted in accordance with these Terms;
systematically or regularly download, store or print any of the Content so as to create a database in electronic or paper form; and
deep link to, frame, spider, harvest or scrape the Content or otherwise access the Content for similar purposes.
7. LINKING SITES
Big Bits’s website or the Content provides links to other Internet sites. Big Bits does not necessarily endorse these sites. Big Bits does not have any control over the content of these sites. If Big Bits receives requests to remove links from its database and search services, Big Bits reserves the right to address such requests individually, but the general approach that Big Bits takes reflects the following principles:
The databases used in connection with Big Bits’s search services consist of information that has been identified, indexed and compiled through an automated process with no advance review by human beings. Given the enormous volume of information added, deleted, and changed on a frequent basis on Big Bits’s website, Big Bits cannot and does not screen anything made available through its search services’ database.
Please note that in such cases, where the Subscriber refers to the content or information of another website, the resulting legal contract shall be between the Subscriber and that third party website owner, and shall be subject to the terms of that third party website, which they shall advise the Subscriber of themselves. The Subscriber shall carefully review their terms and conditions applying to the transaction. Big Bits shall not be liable for any loss or damage caused or alleged to be caused by or in connection with use of or reliance on any content, goods or services available on or through any third party website.
8. OUR REFUNDS POLICY
If the Subscriber chooses to cancel the subscription from anytime between its commencement and expiry, the amount received will be Refunded on the basis of the following Calculations:
The Tax amount will not be refunded.
The no. of days Service used will be deducted on the Basic Amount after deducting Tax Amount on Pro-Rata basis.
Refund will take place within 15 Working days.
Formal Mail will be required from the User aggreging the above points.
If the service is discontinued by Big Bits, the refund payable amount shall be calculated on pro-rata basis and after deduction tax liabilities like GST/ Service Tax.
The Subscriber shall indemnify, hold harmless and defend Big Bits, its subsidiaries and affiliates, licensors and all its members, directors, officers, employees, agents and representatives, from or against any liabilities, claims, demands, penalties, fines, lawsuits, judgments, losses and expenses (including any direct or indirect consequential losses, loss of profit, loss of reputation and all interest, penalties and legal and other professional costs and expenses) (a) on account of bodily injury, death, or damage to property that results from the fault, negligent act or omission, or willful misconduct, in each case, in connection with this Agreement; (b) resulting in any way from the breach of this Agreement; (c) resulting in any way from any allegation of infringement or misappropriation of any patent, copyright, trade secret, trademark, or other intellectual property right under this Agreement.
This Agreement shall commence in accordance with Clause 1 and shall (subject to earlier termination pursuant to this Clause) continue from year to year indefinitely, unless the Subscriber fails to renew the subscription under Clause 1.3.
Big Bits may terminate the subscription at any time by written notice/email to the Subscriber, if the Subscriber commits any breach of any of its obligations mentioned here in these terms or any other applicable conditions.
Upon termination of this Agreement, the Subscriber shall be liable and continue to be held accountable for any acts or omissions done by it, directly or indirectly, during the term of its subscription to Big Bits’s website. The termination of this Agreement shall in no event terminate or prejudice (a) the warranties provided by the Subscriber in Clause 2; (b) the copyright protection and the proprietary rights under Clause 4 and 6; (c) indemnification agreed to in Clause 9; (d) this Clause 10.3; and (e) the agreed law and jurisdiction determined in Clause 27 hereto.
11. WRITTEN COMMUNICATIONS
When using Big Bits’s website, the Subscriber accepts that communication with Big Bits will mainly be electronic. Big Bits will contact the Subscriber by e-mail or provide the Subscriber with information by posting notices on its website. For contractual purposes, the Subscriber agrees to this electronic means of communication and acknowledges that all contracts, notices, information and other communications that Big Bits provides to the Subscriber electronically, comply with any legal requirement that such communications be in writing. The Subscriber agrees that this condition does not affect its statutory rights.
All notices given by the Subscriber to Steel Trade must be given to Steel Big Bits No 152, Sector 20 Block B, Dist : Fathegarh Sahib (Punjab) or be emailed at firstname.lastname@example.org. BIg Bits may give notice to the Subscriber on either the e-mail or postal address that the Subscriber provides to Big Bits while registering with it, or in any of the ways specified in Clause 11. Notice will be deemed to be received and properly served immediately when posted on Big Bits’s website, 24 hours after an e-mail is sent, or three days after the date of posting of any letter. In proving the service of any notice, it will be sufficient to prove, in the case of a letter, that such letter was properly addressed, stamped and placed in the post and, in the case of e-mail; that such e-mail was sent to the specified e-mail address of the addressee.
13. TRANSFER OF RIGHTS AND OBLIGATIONS
This Agreement between the Subscriber and Big Bits shall be binding upon the Subscriber and Big Bits and on their respective successors and assignees.
The Subscriber may not transfer, assign, charge or otherwise dispose of the Agreement, or any of its rights or obligations arising under it, without Big Bits’s prior written consent.
Big Bits may transfer, assign, charge, sub-contract or otherwise dispose of the Agreement, or any of ights or obligations arising under it, at any time during the term of the Agreement.
If any of these terms or any provisions of the Agreement are determined by any competent authority to be invalid, unlawful or unenforceable to any extent, such term, condition or provision will to that extent be severed from the remaining terms, conditions and provisions which will continue to be valid to the fullest extent permitted by law.
15. ENTIRE AGREEMENT
These terms and any document expressly referred to in them constitute the whole agreement between the parties and supersede all previous discussions, correspondence, negotiations, previous arrangement, understanding or agreement between the parties relating to the subject matter of any Agreement.
17. Big Bits’s RIGHT TO VARY THESE TERMS
Big Bits shall have the right to revise and amend these terms from time to time.
The Subscriber agrees to keep regular track of these terms, which are always available on Big Bits’s website and agrees that they are binding on the Subscriber. Should the Subscriber, at any time after its subscription, does not agree to any change, then it shall be promptly communicated to Big BIts, and Big Bits then shall, either refund the subscription fee (refund amount to be calculated on pro rata basis) or mutually agree to the variations in these terms (concerning the revised portion) in writing. However, if no such communication is received within 15 days from the date of revisions or amendments in these terms, the Subscriber hereby agrees to abide by the revised terms.
18. JOINTLY DRAFTED
This Agreement shall be deemed to have been jointly drafted by both the parties and, in the event of a dispute, shall t be construed against either party solely for the reason that it has or has not drafted the agreement. Each party acknowledges that it has had the opportunity to consult with a counsel of its own choosing prior to entering into this Agreement.
19. COMPLIANCE WITH LAWS
The parties shall comply with all international, national, state, and local laws, ordinances, rules, regulations and orders pplicable to them with respect to their performance of the services and obligations under this Agreement.
20. LIMITATION OF LIABILITY
Big Bits shall not be responsible or liable to the Subscriber for consequential, incidental, punitive or special or indirect damages. In no event will, Big Bits’s liability for direct damages, regardless of the form of action, exceed 10% of the amount paid in fees under the applicable subscription model in the last three (3) months preceding the date of the incident giving rise to the action, regardless of whether an action is brought in contract or in tort, including indemnity, negligence, strict liability, or otherwise.
21. SOLICITATION OF ADVICE
The Subscriber agrees that during the term of this Agreement and for two (2) years thereafter, it shall not directly solicit expert advice relating to Big Bits’s services from any employee of Steel Trade without first obtaining express consent from Big Bits.
22. EFFORTS TO RESOLVE DISPUTES
The Parties shall use their best efforts to resolve any dispute under or in relation to this Agreement quickly and amicably to achieve timely and full performance of the terms of this Agreement.
23. NOTICE OF DISPUTE AND INFORMAL RESOLUTION
Any party which claims that a dispute, controversy, or claim has arisen under or relating to the Agreement must give written notice thereof to the other party as soon as practicable after the occurrence of the event, matter, or thing which is the subject of such dispute. In such notice, such party shall provide particulars of the circumstances and nature of such dispute and of its claim in relation thereto and shall designate a person as its representative for negotiations relating to the dispute, which person shall have the authority to bind the party in the settlement of the dispute. Within fourteen (14) calendar days from receipt of such notice, the receiving party shall promptly give reply in writing to the other party specifying its position in relation to the dispute and designating its representative in negotiation relating to the dispute. The designated representative of each party shall use all reasonable endeavors to settle the dispute within Seven (7) calendar days.
24. AGREED DISPUTE RESOLUTION PROCESS
If the parties’ designated representatives cannot resolve the dispute within the time specified in preceding sub-section, then either of the parties shall, within a period of Thirty (30) days, may give notice to the other party, of its intention to commence arbitration, as hereinafter provided, as to the matter in dispute. No arbitration in respect of this matter may be commenced unless such notice is given.
Any dispute or difference in respect of which a notice of intention to commence arbitration as above has given, it shall be finally settled by arbitration.
A Sole Arbitrator appointed by mutual consent of the parties shall hear any dispute or difference submitted by a party to arbitration. If the parties fail to appoint a Sole Arbitrator by mutual consent, the same shall be appointed by the High Court of Chandigarh as per Section 11 of the Arbitration and Conciliation Act, 1996 on an application made by any of the parties for the purpose thereof.
Arbitration proceedings shall be conducted in accordance with the Indian Arbitration and Conciliation Act, 1996 including any statutory modifications or re-enactment thereof and the rules made thereunder. The place of arbitration shall be Raipur, unless otherwise agreed between the parties. The language of arbitration shall be the language in which this contract is being executed.
The decision of the arbitration tribunal shall be final and binding and shall be enforceable in any court of competent jurisdiction as a decree of the court. The parties thereby waive any objections to or claims of immunity from such enforcement.
The arbitrator shall give a reasoned award.
The arbitrator shall give a reasoned award.
25. LAW AND JURISDICTION
This Agreement or the dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by Indian Law. Any dispute or claim arising out of or in connection with such Agreement or their formation (including non-contractual disputes or claims) shall be subject to the exclusive jurisdiction of the courts of Punjab, Chandigarh.
26. APPLE'S AUTO RENEW TERMS & CONDITIONS
Following conditions apply in case you purchase Big Bits APP subscription in apple phones/devices:
Title of service - "1 Year Auto-Renew Subscription Plan"
Length of subscription - 1 Year access to Steel Trade iOS Mobile APP.
Payment will be charged to iTunes Account at confirmation of purchase.
Subscription automatically renews unless auto-renew is turned off at least 24-hours before the end of the urrent period.
Account will be charged for renewal within 24-hours prior to the end of the current period, and identify the cost of the renewal.
Subscriptions may be managed by the user and auto-renewal may be turned off by going to the user's Account Settings after purchase.
Any unused portion of a free trial period, if offered, will be forfeited when the user purchases a subscription to that publication, where applicable.
All the service offered by Big Bits are mentioned on the home page of www.bigbits.cin which the client opts as per his requirement.
OUR WAY OF WORK
Big Bits group is a third party data aggregator for iron and steel sector having its registered No 152, Sector 20 Block B, Dist : Fathegarh Sahib (Punjab), India. We collect information and data in context to Prices, News, Broadcasts, Exports and Imports, and Production from varied sources based in India and International Market. Our objective is to conduct transparent and unbiased data analysis and research in order to help our clients to take informed decision.
We have a team of Researchers & Analysts who are Management/Finance/Marketing graduates and Engineers, who collect this data from various sources (Manufacturers, Buyers, Wholesalers, Traders, Exporters and importers) on the basis of firm bids, firm offers or transaction prices through calls, emails, SMS or on Whatsapp. Communications are recorded for future references. We use to collect data from Multiple Sources and then share the Average Pricing in our Portal, We capture the News and Reports from Various Websites, Customs & Official Websites of Corporates and Rearrange the same news in our own language. The Company is consistently working on its systems to make it stronger and process oriented, rather than people oriented.
Our terms and conditions clearly state that all the prices are indicative and should be used for reference purpose only. Steel Trade does not cohere, recommend or advise anyone of its client to trade on these prices.
What we do not do
We are not an adviser. We do not indulge in any kind of trading activities nor do we recommend any contact of manufacturers, traders or brokers to any of our clients. A foreword on Big Bits Price Assessment Processes and Methodologies
Big Bits’s definition of “Price Assessment” “Price Assessment”, according to Big Bits is the market value it publishes for particular commodities. Big Bits’s price assessments are developed by collecting and analyzing trading data received from market participants including manufacturers, buyers and other trade participants through Calls, Mails, What’s APP and Personal Meetings.
For what commodities does Steel Trade provide price assessments?
Big Bits provides price assessment for commodities relating to Iron and Steel industry including Raw Material, Semi Finished and Finished Materials like Iron Ore, Coal, IO Pellets, Melting Scrap, Old Scrap, Sponge Iron, Pig Iron, Ingot, Billet, Rebar (TMT), Structures, Wire, Pipe, HRC, CRC, HR plate, Metals, SS Materials etc.
How does Steel Trade develop price assessments?
Big Bits has a team of market analysts, reporters and editors who are well experienced and trained in research methodology and are also responsible for monitoring markets, analyzing data, etc. The data is collected from market participants including commodity producers, consumers, transporters, processors, storage facilities, traders, brokers, and others. Big Bits editors analyze the market data (i.e. bids, offers and trades) with respect to guidelines and then publish assessments.
Which market participants are included in Big Bits assessment process?
Big Bits sources data from industry participants whose information is considered indicative of market value. Participation in Steel Trade price assessment processes is voluntary. It is indicative of the participants’ belief that price discovery strongly benefits functioning of commodity markets.
What is methodology and why is it important?
The term is a defined set of guidelines to produce consistent quality in a price assessment. Specific and well-defined methodologies are integral to Big Bits’s price assessment processes. Big Bits adopts a Different way which sounds technically and helps better assessment of prices. Big Bits’s endeavor has always been to adopt technology as a core part of its function. Company keeps on innovating different methodology of price discovery, which are globally accepted.
Can Big Bits stop companies from trading?
No. Trading is conducted between buyer and seller in the open marketplace. Big Bits activities are confined to its price assessment processes and the assessments those processes produce.
How are Big Bits price assessments used?
Big Bits’s clients use its price assessments for various purposes. Market participant regularly use SBig Bits prices as a basis for pricing spot transactions and term contracts while analysts use them to identify trends and patterns in supply and demand. And also use them as reference to place a market value on the commodities.