The rules for using the Securitief public site, the deal portal and the desk. This is a draft. It has not been reviewed by counsel and does not bind anyone until a final version is published here with an effective date.
In brief
Everything here is general information. It is not an offer to sell or a solicitation of an offer to buy any security, and it is not investment, tax, legal or municipal advice.
Securitief is not a placement agent, underwriter or municipal advisor, and does not seek or receive compensation from any financing.
Bonds are offered only by offering documents, through registered firms, where state law allows.
Desk accounts are by invitation, for one named person each. Do not share sign-ins or scrape the site.
Public data is labelled with its source. Licensed data appears only under the licence of the subscriber who connected it.
1. Who we are and what these terms cover
Securitief is operated by Applied America ("we", "us"). [Legal entity name, form and state of organisation to be confirmed by counsel.]
These terms apply to the public site (including research, state, issuer and calculator pages), the deal portal used by investors, banks, issuers and borrowers, and the desk used by subscribing firms. By using any of them you agree to these terms. If you use the desk or portal for a firm, you agree for that firm and confirm you are authorised to do so. A signed subscription agreement with your firm, if there is one, takes priority over these terms where they conflict.
2. Information only
Everything on the site, in the portal and in the desk is general information. None of it is:
an offer to sell, or a solicitation of an offer to buy, any security;
a recommendation to buy, sell or hold any security, or to choose any issuer, structure or firm;
investment, tax, legal, accounting or municipal advice.
Calculators, scores, rankings and pre-qualification results are estimates from the inputs you give and the public data described below. They do not mean a financing is available, or on what terms.
3. Our role
Securitief is not a placement agent, underwriter or municipal advisor. [Broker-dealer and other registration status to be confirmed by counsel.] It does not seek or receive compensation from any financing: no success fee, no fee tied to a closing, the size of a deal or any allocation, and no share of any placement, underwriting or advisory fee.
Any subscription fee a firm pays for the desk is a flat software fee. It is never tied to whether a deal closes, its size, or who is allocated bonds.
We owe no fiduciary duty to any issuer, borrower, obligated person or investor unless we have agreed to one separately in writing. [Counsel to confirm the wording on fiduciary duty.]
4. No reliance
State allocation rules, issuer fees, board dates, tax law and market conditions change. Our pages show the date each source was checked, but they can be out of date or wrong, and our classification and matching of holdings can contain errors. Figures may be revised without notice.
Do not rely on anything here to make an investment or financing decision. Confirm current rules with the allocating agency and the issuer, and get advice from your own bond counsel, tax adviser and financial adviser.
5. Offers and registered firms
Bonds are offered only by offering documents (such as a private placement memorandum or official statement), only by firms registered to offer them, and only where state securities laws allow. Securitief does not make offers.
The desk helps subscribing firms organise their own work. The firm that uses it remains responsible for its own regulatory duties, including supervision, suitability, recordkeeping, communications review and investor eligibility. Gates in the desk (for example, eligibility evidence and sanctions screening before documents are shared) support those duties; they do not replace them.
6. Desk and portal accounts
By invitation. Desk accounts exist only when a desk administrator invites a named person. Portal access is granted by the desk for a specific deal.
One person, one account. Do not share your sign-in, password or two-factor device. Signing in somewhere new ends your other sessions.
Two-factor. If you turn on two-factor sign-in, or your administrator requires it, the desk will not accept a password alone.
Administrators. Your firm's administrators choose who has access and in what role, and are responsible for removing people who leave.
Keep it secure. Tell your administrator, or us at security@securitief.com, straight away if you think your account has been used by someone else.
Suspension. We may suspend an account to protect the service, other users or their data, or if these terms are broken. Where we can, we tell the firm's administrator first.
7. Acceptable use
You must not:
scrape, crawl or bulk-download the site, portal or desk, other than through the published feeds (RSS and JSON Feed) and the partner API with your own key;
share credentials, or let anyone use the desk or portal under your account;
try to get around access rules, roles, rate limits, export controls or sanctions and eligibility gates;
upload malicious code, or anything you do not have the right to share;
use the desk's dialer, email or messaging tools in breach of telemarketing, do-not-call, anti-spam, call-recording or privacy laws, or to contact anyone who has asked not to be contacted;
use the service to offer securities where the offer is not permitted, or to mislead anyone;
copy or republish our data sets, research or pages as your own product.
8. Data sources and licences
Public sources. Public pages and research use public sources, each labelled where it is used: for example SEC Form N-PORT and N-MFP filings, FDIC call reports, IRS and Census data, Federal Reserve (FRED) series, and state agency and issuer publications.
No licensed levels on public pages. We do not publish licensed index levels (such as MMD, BVAL, Bloomberg or ICE) or EMMA trade data.
Licensed data in the desk. A subscribing firm may connect data it licenses from a vendor (for example, a trade feed or pricing service). That data is used only under that firm's licence, is shown only to that firm's desk, and the firm is responsible for complying with its licence. We do not resell or redistribute it.
Outside services. Calling, transcription, drafting, mailbox and similar services are off until a firm connects its own account. Each one is listed on our security page.
9. Your content and records
What you enter or upload (notes, documents, messages, questionnaire answers) stays yours. You let us store, process and display it only to run the service for you and the people you choose to share it with.
Some records, such as business communications, call transcripts and the access log, are kept for the periods securities recordkeeping rules require and cannot be changed or deleted during that time. How we handle personal information is in the privacy notice; how we protect it is on the security page.
10. Our content
The site, research, data compilations, software and design belong to Applied America or its licensors. You may quote short extracts with a credit and a link. Any other copying needs our written permission.
11. Availability and changes
We aim to keep the service available and publish its uptime on the status page, but we do not promise it will be uninterrupted or error-free. We may change, add or remove features. [Service levels for subscribing firms, if any, to be set in the subscription agreement.]
12. No warranty
To the extent the law allows, the site, portal and desk are provided "as is" and "as available", without warranties of any kind, including accuracy, completeness, fitness for a particular purpose and non-infringement. [Counsel to confirm wording and any consumer-law carve-outs.]
13. Limitation of liability
To the extent the law allows, Applied America is not liable for indirect, incidental, special or consequential losses, or for lost profits, lost opportunities or the outcome of any financing or investment, arising from use of the service or reliance on its content. Our total liability for any claim is limited to [amount or formula to be set by counsel, for example fees paid in the prior 12 months]. Nothing here limits liability that cannot be limited by law.
14. Governing law and disputes
These terms are governed by the laws of [State to be confirmed by counsel]. Disputes go to [courts or arbitration forum to be confirmed by counsel].
15. Changes to these terms
We will post changes here with a new effective date. For desk and portal users, we will also show a notice when you next sign in. If you keep using the service after a change takes effect, the new terms apply.
16. Contact
Questions about these terms: [contact address to be confirmed by counsel]. Security issues: security@securitief.com.
Draft prepared October 2026 for counsel review. Not yet in effect.