Component is a decentralized finance R&D firm that specializes in digital asset management software and contributing to protocol and governance developmemt.
Our mission is to improve decision making in DeFi. We've assembled a group of exceptional engineers, researchers and operators in the pursuit of that same mission.
Our team values continuous learning and improvement. As the DeFi market grows as an emerging financial technology, the Component team will be there for the whole ride.
We’re an expanding global team working on the most interesting problems in DeFi.
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Last updated: 2022
The information in this section is relevant to all categories of data subject.Component, Inc., a Delaware corporation (including our subsidiaries, affiliates, “Component”, “we”, “us” or “our”) is responsible for your personal data submitted to or via component.fi and perpsim.com, and all affiliated sites, domains, subdomains, communications channels, addresses and directories (the “Sites”).
You can contact a representative by sending an email to the following address: General@component.fi
You have the following rights:
1. The right to be informed
You have the right to be informed about how Component processes your personal data. Typically, Component communicates this information through privacy notices such as this one.
2. The right of data access
You have a right to obtain a copy of the personal data we hold about you, subject to certain exceptions.
3. The right of data rectification
You always have a right to ask for immediate correction of inaccurate or incomplete personal data which we hold about you.
4. The right of data erasure
You have the right to request that personal data be erased when it is no longer needed, where applicable law obliges us to delete the data or the processing of it is unlawful. You may also ask us to erase personal data where you have withdrawn your consent or objected to the data processing. However, this is not a general right to data erasure – there are exceptions and instances where data erasure is not possible, for example any data submitted by you or by your initiation resulting in a state change on a public blockchain via interfaces on the Sites.
5. The right to restrict data processing
You have the right to restrict the processing of your personal data in specific circumstances. Where that is the case, we may still store your information, but not use it further.
6. The right to data portability
You have the right to receive your personal data in a structured, machine-readable format for your own purposes, or to request us to share it with a third party.
7. The right to object to data processing
You have the right to object to our processing of your personal data based on the legitimate interests, where your data privacy rights outweigh our reasoning for legitimate interests.
8. Rights in relation to automated decision making and profiling
You have the right not to be subjected to a decision based solely on automated processing, including profiling, which produces legal or similarly significant effects. Currently, Component does not perform any automated decision making or profiling.You may request to enforce your data privacy rights by emailing General@component.fiIn certain circumstances, we may need to restrict the above rights to safeguard the public interest (e.g., the prevention or detection of crime) or our business interests (e.g., the maintenance of legal privilege).
Consent as a legal basis for processing
For some data processing, Component uses consent as a legal basis. If you have consented to processing by Component, please be aware that you have the right to withdraw this consent at any point. If you would like to withdraw consent for a particular type of data processing that Component performs, please email the following address: General@component.fi
Complaints to a Supervisory Authority
You have the right to lodge a complaint with a supervisory authority with regards to the way that Component processes your personal data. Component recommends lodging a complaint with the data protection authority officer/regulatory authority in the country in which you are a permanent resident.
How we share your data
We will not share your personal information with any third parties for the purposes of enhanced service experience or marketing. In some circumstances we are legally obliged to share information. For example, under a court order. In any scenario, we will satisfy ourselves that we have a lawful basis on which to share the information and document our decision making and satisfy ourselves we have a legal basis on which to share the information.
How we protect your information
We implement appropriate technical and organizational measures to protect personal data that we hold from unauthorized disclosure, use, alteration, or destruction. Where appropriate, we use encryption and other technologies that assist in securing the data you provide. We also require our service providers to comply with strict data privacy requirements where they process your personal data.
How long we keep your personal data
We only keep your personal data for as long as necessary for the purposes described in this privacy notice, or until you notify us that you no longer wish us to process your data. After this time, we will securely delete your personal data, unless we are required to keep it to meet legal or regulatory obligations, or to resolve potential legal disputes.
Contact and further information
If you have any questions about how we use your personal data or wish to make a complaint about how we handle it, you may contact Component at: General@component.fi
USERS AND VISITORS
Unsolicited Personal Information
If you send Component unsolicited personal information, Component reserves the right to immediately delete that information without informing you or to decide which category of data subject that you appear to be and manage your personal data within the remit of that category as described elsewhere in this Privacy Notice. We do not knowingly collect or solicit personal information from anyone under 18 years of age. If you are under 18, please do not send any personal information about yourself to us.We collect the following categories of personal data:
• Any contact information you share with us: email address, pseudonym, telephone number, etc.
• Information your browser and local storage makes available when you visit the Component website: including any connected public key and other externally-owned account information from your blockchain address and/or third party blockchain wallet provider or browser extension, etc.
We use your personal data to:
• respond to your specific request that you make, for example request a demonstration, whitepapers, newsletters, or other information; and
• send you marketing communications (such as a subscribed email list, etc.).
We only collect the personal data from you that we need for the above purposes. We may also anonymize your personal data, so it no longer identifies you and use it for various purposes, including the improvement of our services and testing our IT systems.
We use your personal data for the purposes described in this notice based on legitimate interest, as by using our website it is understood that there is potential for you to be a potential user, contractor, employee, or supplier.
We reserve the right to restrict access to or remove material that we believe in good faith to be copyrighted material and/or illegally copied and/or distributed, and restrict and discontinue service to offenders, to the extent we are reasonable able to do so. If you believe that material or content residing on or accessible through the Sites or Services infringes your copyright (or the copyright of someone on behalf of which you are authorized to act), please send a notice of copyright infringement containing the following information to General@component.fi:
1. A signature of a person authorized to act on behalf of the owner of the copyright that has been allegedly infringed;
2. Identification of works or materials being infringed; and
3. Evidence of the existing and allegedly infringed legal ownership.
CONTRACTORS, CONTRIBUTORS OR SUPPLIERS
We collect and use personal data that concerns you in connection with the agreements with our suppliers, contractors, contributors, and commercial participants. We may collect the following categories of personal data:
• Identification data and business contact information, you share with us such as name, job/position/title, email address, and telephone number.
• Additional information you provide to us in the course of our business relations such as data concerning the fulfilment of our contractual obligations and pre-contractual measures including correspondence data, offers, tenders, conditions, contract and order data, invoices, payments, blockchain externally-owned account address/public key, records relating to queries/questions/complaints/orders.
We may use your personal data as described above for the following purposes:
• process and fulfilment of purchases, administration and management of suppliers, vendors, contractors, advisers and other professional experts;
• paying debts, invoice and payment management, purchasing of direct and indirect services;
• management of process quality, monitoring and auditing compliance with Component’s policies, contractual obligations and legal and statutory requirements;
• carrying out audits, reviews and regulatory checks to meet applicable obligations to regulators;
• governance, risk and compliance, including due diligence and anti-money laundering and sanctions obligations, customs and global trade compliance and sanctioned party list screening, security, including prevention, detection of crime and fraud;
• maintain and protect the security of products, facilities, services, systems, networks, computers and information, preventing and detecting security threats, and fraud or other criminal or malicious activities; and
• manage IT resources, including infrastructure management including data back-up, information systems’ support and service operations for application management, end user support, testing, maintenance, security (incident response, risk, vulnerability, breach response), user accounts management, software licenses assignment, security and performance testing and business continuity.
We collect only the personal data from you that we need for the purposes described above. For statistical purposes, improvement of our services and testing of our IT systems we use as much as reasonably possible anonymized data. This means that these data alone can no longer identify you or single you out as an individual. We may process your personal data for the fulfilment of contractual obligations resulting from contracts with you or your company, or as part of pre-contractual measures we take.
In some cases, we rely on our legitimate interests to process your personal data insofar as this is not overridden by your own privacy interests. Such interests may include:
• conduct, management, development and furtherance of our business in the broadest sense possible including supply of products and services, performance of agreements and order management with suppliers, process and fulfilment of purchases, process quality management and improvement of products or services, analytics and market intelligence, reduction of default risks in our procurement processes and reorganization, acquisition and sale of activities, business divisions and companies;
• monitor, investigate and ensure compliance with legal, regulatory, standard and Component internal requirements and policies;
• prevent fraud and criminal activity including investigations of such activity, misuse of Component assets, products and services, and as strictly necessary and proportionate for ensuring network and information security; and
• transmitting personal data within the Component group for internal administrative purposes as necessary for example to provide centralized services.
In some cases, we process your personal data on the basis of legal obligations and statutory requirements, for example, on the basis of tax or reporting obligations, cooperation obligations with authorities, statutory retention periods or the disclosure of personal data within the scope of official or judicial measures may be required for the purposes of taking evidence, prosecution or enforcement of civil law claims.
You may obtain a copy of our assessment of why we may process your personal data for these interests by submitting a request at General@component.fi.
These terms and conditions of use, together with any documents and additional policies and guidelines they incorporate by reference (collectively, these “Terms”), are entered into between Component, Inc., a Delaware corporation (together with any and all affiliates, “Component”, “We”, “Us” or “Our”), and You or the company or other legal entity that You represent (“You” or “Your”). Please read these Terms carefully as they govern Your use of our sites located at component.fi and perpsim.com, and all affiliated and associated sites, domains, subdomains, communications channels, addresses and directories (the “Sites”) and any of Component’s websites, multimedia, videos, audio, artwork, materials, marketplaces, stores, products, services, presentations or other provided services, including but not limited to the Component and PerpSim interface, dashboard, website, and any other such services provided by or through Component (“Services”) and describe Your rights and obligations and our disclaimers and limitations of legal liability. By accessing, using, participating in, or receiving any of the Sites or Services, or otherwise acknowledging these Terms, You accept and agree to be bound by and to comply with these Terms. If You do not agree to these Terms, You shall avoid accessing or using our Sites or the Services.
You must have the capacity and authority to form a legally binding contract online either on behalf of an entity or as an individual. Accordingly, You represent that, if You are agreeing to these Terms on behalf of a company or other legal entity, You have the legal authority to bind such company or other legal entity to these Terms and You are the older of 18 years old or the age of majority where You reside, You can form a legally binding contract, and have the capacity and authority to enter into and to comply with the obligations under these Terms. You represent and warrant that You are not a citizen or resident of a state, country, territory or other jurisdiction that is sanctioned or embargoed (nor are you or your entity personally sanctioned or embargoed) by the United States, United Nations or the European Union or where Your use of the Sites or the Services would be illegal or otherwise violate any treaty, domestic or foreign law, rule, statute, regulation, or other directive, requirement or guideline, which is in force and applies to or otherwise governs, rules or regulates any person, property, activity, event or other matter, including any rule, order, judgment, directive or other requirement or guideline issued by any domestic or foreign federal, provincial or state, municipal, local or other governmental, regulatory, judicial or administrative authority having jurisdiction over Component, You, the Sites or the Services; or as otherwise duly enacted, enforceable by law, the common law or equity (the “Applicable Law”).
Changes to these Terms
We reserve the right, in Our sole discretion, to modify these Terms from time to time. If we make changes, we will provide You with notice of such changes by sending an email, posting a notice on the Sites or elsewhere on our Services or updating the date at the top of these Terms. Unless we say otherwise in our notice, any modifications are effective immediately upon such notification given as in the previous sentence, and Your continued use of the Sites or our Services will confirm Your consent and acceptance of the changes and to these revised Terms in full. If You do not agree to such revised Terms, You must stop using our Services.
In order to use certain features of the Services, You may be required to register for an account and provide certain information about Yourself as prompted by the account registration form (the “Account”). You shall provide complete and accurate information where prompted by Us in the Sites and/or Services. You are responsible for maintaining the confidentiality of Your Account login information and are fully responsible for all activities that occur under and from Your Account. If applicable, Component may suspend or terminate Your Account for any reason at Our sole discretion, including for any use of the Sites or Services in violation of these Terms.
DLT/Blockchain Payments and Fees
Some Services offered or presented by Us, whether merely by interface or link to external or third-party services, require payment with or otherwise involve the use of an underlying blockchain or other decentralized software infrastructure (the “Distributed Ledger Technology”), which may require that You pay a fee, such as (but not limited to) “gas” charges for the computational resources required to perform a transaction on the particular Distributed Ledger Technology (such payments and fees, “Charges”). You acknowledge and agree that Component has no control over any Distributed Ledger Technology transactions, the third-party services or products used to access Distributed Ledger Technology or payments thereon, the method of payment of any Charges, if applicable, or any actual payments of Charges or amounts thereto, if applicable. Accordingly, You must ensure that You have a sufficient balance of the applicable Distributed Ledger Technology network cryptocurrencies or tokens stored at Your Distributed Ledger Technology-compatible account address (“Distributed Ledger Technology Address”) to complete any such transaction on the Distributed Ledger Technology before initiating such transaction.
As a condition to accessing or using the Services or the Sites, You: (i) will ensure that all information that You provide on the Sites or otherwise to Us is current, complete, and accurate (ii) will only use the Services and the Sites for lawful purposes and in accordance with these Terms; (iii) will maintain the security and confidentiality of access to Your Distributed Ledger Technology Address; and (iv) agree (A) that no Indemnitee (as defined below) will be responsible for any loss or damage incurred as the result of any interactions You have with other users of the Sites or Services; and (B) if there is a dispute between You and any other site or other user, no Indemnitee (as defined below) will be under any obligation to become involved.
As a condition to accessing or using the Sites or the Services, You will not: (i) violate any Applicable Law, including, without limitation, any relevant and applicable privacy and data collection laws including GDPR, any relevant and applicable gambling, illicit contracting, misrepresentation, or fraud laws, and any relevant and applicable anti-money laundering and anti-terrorist financing laws, in each case as may be amended; (ii) Export, re-export, or transfer, directly or indirectly, any Component technology or data or data accessed through any of the Services in violation of applicable export laws or regulations; (iii) Infringe any intellectual property or other third-party right, or commit a tort or violation of criminal or contract law while using or involving any Site or the Service; (iv) Misrepresent the reliability or veracity of any content on the Sites or through the Services; (v) Use the Sites or Services in any manner that could interfere with, disrupt, negatively affect, or inhibit other users from their quiet enjoyment of the Sites or Services, or that could impair, disable, overwhelm, or otherwise alter the functioning of the Sites or Services in any manner; (vi) Attempt to circumvent any content filtering techniques or security or compliance measures that Component employs on the Sites or the Services, or attempt to access any service or area of the Sites or the Services that You are not authorized to access; (vii) Use any scraper or other automated means or interface not provided by us to access the Sites or Services or to extract data; (viii) Introduce or use any exploit, virus, malware, Trojan horse, worm, backdoor or other harmful software in the Sites or the Services; (ix) Post content or communications on the Sites or Services that are, in Our sole discretion, fraudulent, deceptive, libelous, defamatory, profane, obscene, pornographic, sexually explicit, lewd, vulgar, suggestive, harassing, hateful, threatening, offensive, discriminatory, bigoted, abusive, inflammatory, or otherwise objectionable; (x) Post content or communications on the Sites or Services containing unsolicited promotions, campaigns, or commercial messages or any user content designed to deceive the user of the Service; or (xi) Induce any other user or third party to engage in any of the activities prohibited under these Terms or otherwise violate these Terms.
You represent and warrant that You: (i) know, understand and accept the risks associated with Your use of the Sites and Services, using smart contracts and other blockchain and distributed ledger technologies, APIs, and public/private key technologies in general, Your Distributed Ledger Technology Address and the Distributed Ledger Technology, including the risks identified elsewhere in these Terms.
Excluding any open source software or third-party software that the Sites or the Services incorporates, as between You and Component, Component owns the Sites and the Services, including all technology and other content used, displayed or provided on the Sites (including all intellectual property rights), and hereby grants You a limited, revocable, non-transferable, license to access and use those portions of the Sites and the Services that are proprietary to Component in accordance with their intended uses and in accordance with any other applicable licensing terms for the Sites and the Services in these Terms (collectively, the “Component License”). You acknowledge that the Sites and/or the Services may use, incorporate or link to certain open-source components and that Your use of the Sites and/or Services is subject to, and You will comply with any, applicable open-source licenses (collectively, “Open-Source Licenses”). Notwithstanding the foregoing, You may not resell, share, distribute or otherwise permit any third party to use the Sites or the Services or otherwise use the Sites or the Services in a manner that violates the Component License or any other Open-Source Licenses.
Component may direct to, host or provide links to content of third parties (“Third Party Content”). Component makes no representation regarding, and accepts no responsibility for, Third Party Content or for the accuracy, quality, ownership or reliability thereof. Your use of these links and the Third Party Content is at Your own risk. When You leave the Sites, You should be aware that our Terms no longer govern. You should review the applicable terms and policies, including privacy and data gathering practices, of any website to which You navigate from the Sites.
Any of Component 's product or Service names, logos, and other marks used in the Sites or as a part of the Services, including Component’s name and logo are intellectual property owned by Component and/or affiliates. You may not use Component’s name and logo in a manner that may cause misrepresentations or confusion. Except as provided in the foregoing, You may not copy, imitate or use Our Intellectual Property without Our (or the applicable licensor’s) prior written consent. Component will be free to use, reproduce, license, and otherwise distribute any suggestions, comments, or other feedback provided by You to Component with respect to the Sites or Services (“Feedback”) provided to it as it sees fit, entirely without obligation or restriction of any kind, on account of intellectual property rights or otherwise.
You hereby grant to Component a royalty-free, fully paid-up, sublicense-able, transferable, perpetual, irrevocable, non-exclusive, worldwide license to use, copy, modify, create derivative works of, display, perform, publish and distribute, in any form, medium or manner, any content that is available to other users via the Sites as a result of Your use of the Sites (collectively, “Your Content”) through Your use of the Services or the Sites, excluding for purposes of this sentence any of Your Content the intellectual property rights of which You legally own and expressly preserve while using the Services or Sites. You represent and warrant that You own Your Content or have the right to grant the rights and licenses in these Terms applicable to your use of the Sites, Services and Your Content, and Your Content and Our use of Your Content does not and will not violate, misappropriate or infringe on any third party’s rights nor Applicable Law.
Suspension and Termination
We may, at Our sole discretion, with or without prior notice to You (unless otherwise expressly agreed in writing), modify, suspend or disable, temporarily or permanently, the Services offered by Component, in whole or in part, for any reason whatsoever, including, but not limited to, as a result of a security incident. We will not be liable for any losses suffered by You resulting from any modification to any Services or from any suspension or termination, for any reason, of Your access to all or any portion of the Sites or the Services. The Terms shall survive any termination of Your access to the Sites or the Services, in addition to any other provision which by law or by its nature should survive.
You shall defend, indemnify, and hold harmless Component, our affiliates and subsidiaries, and our and our affiliates’ and subsidiaries’ respective shareholders, members, directors, officers, employees, representatives, suppliers, licensors, attorneys, agents, and contractors (collectively, “Indemnitees”) from any claim, demand, lawsuit, action, proceeding, investigation, liability, damage, loss, costs or expenses, including without limitation reasonable attorneys’ fees, arising out of or relating to Your use of, or conduct in connection with, the Sites, the Services, Distributed Ledger Technology assets associated with Your Distributed Ledger Technology Address, any other digital assets, Your Content; Your violation of these Terms; Your violation of any Applicable Law or regulations; Your gross negligence or intentional misconduct; or Your infringement or misappropriation of the rights of any other person or entity. If You are obligated to indemnify any Indemnitee, Component (or, at its discretion, the applicable Indemnitee) will have the right, in its sole discretion, to control any legal action or proceeding arising therefrom.
Notices and Communications
You consent to receive all communications, policies, invoices, notices, and disclosures electronically (collectively, our “Communications”) that we provide in connection with these Terms or any Services. You agree that we may provide our Communications to You by posting them on any of the Sites or through the Services or by emailing them to You at any email address You provide in connection with using the Services. You may also contact us to request additional electronic copies of our Communications by emailing General@component.fi.
Component does not operate an exchange platform of any kind or offer trade execution or clearing services with respect to traditional or digital assets and therefore has no oversight, involvement, or control with respect to Your transactions pursuant to the Sites or Services or any Distributed Ledger Technology. You are responsible for complying with all Applicable Law and regulations applicable to Your transactions. Component does not own or control the underlying software protocols that are used in connection with the Sites and Services, including but not limited to all applicable public blockchains and deployed code and assets thereupon. In general, the underlying protocols on which the Services are based are open-source and anyone can use, copy, modify, and distribute them. Component is not responsible for operation of the underlying protocols, and Component makes no guarantee of their functionality, security, or availability.
To the maximum extent permitted under Applicable Law, the Sites and the Services (and any of their content or functionality) provided by or on behalf of Us are provided on an “AS IS” basis, and we expressly disclaim, and You hereby waive, any representations, conditions or warranties of any kind, whether express or implied, legal, statutory or otherwise, or arising from statute, otherwise in law, course of dealing, or usage of trade, including, without limitation, the implied or legal warranties and conditions of merchantability, quality or fitness for a particular purpose, title, security, availability, reliability, accuracy, quiet enjoyment and non-infringement of third party rights. Without limiting the foregoing, We do not represent or warrant that the Sites or the Services (including any related data) will be uninterrupted, available at any particular time or error-free. We do not warrant that errors in the Sites or the Service are correctable or will be corrected beyond good faith measures by Us, to the extent possible and practical.
You acknowledge that Your data on the Sites or through the Services may become permanently lost or corrupted or temporarily unavailable due to a variety of causes, and agree that, to the maximum extent permitted under Applicable Law, we will not be liable for any loss or damage caused by denial-of-service attacks, 51% attacks, software failures, lost private or public keys, viruses or other technologically harmful materials (including those which may infect Your computer equipment), protocol changes by third party providers, Internet outages, force majeure events or other disasters, scheduled or unscheduled maintenance, or other causes either within or outside our control. The disclaimer of implied warranties contained in these Terms may not apply if and to the extent such warranties cannot be excluded or limited under the Applicable Law of the jurisdiction in which You reside.
Limitation of Damages and Liability
Component, together with any Indemnitee, shall not in any event be liable for any incidental, indirect, special, punitive, exemplary, consequential or similar damages or liabilities whatsoever (including, without limitation, damages for loss of data, information, revenue or other business or financial benefit) arising out of or in connection with any of the Sites and/or Services (and any of their content and functionality), any execution or settlement of a transaction, any performance or non-performance of the Services, Your Distributed Ledger Technology assets, other digital assets or any other product, service or other item provided by or on behalf of an Indemnitee, whether under contract, tort (including negligence), civil liability, statute, strict liability, breach of warranties, or under any other theory of liability, and whether or not any Indemnitee has been advised of, knew of or should have known of the possibility of such damages and notwithstanding any failure of the essential purpose of these Terms or any limited remedy nor is Component in any way responsible for the execution or settlement of transactions between users of the Services.
In no event will the Indemnitees' aggregate liability arising out of or in connection with the Sites and the Services (and any of their content and functionality), any performance or non-performance of the Services, Your Distributed Ledger Technology assets, other digital assets or any other product, service or other item provided by or on behalf of an Indemnitee, whether under contract, tort (including negligence), civil liability, statute, strict liability or other theory of liability exceed the amount of the fees paid by You to Us under these Terms in the one year period immediately preceding the event giving rise to the claim for liability.
To the extent permitted by Applicable Law, in consideration for being allowed to use any of the Sites and the Services, You hereby release and forever discharge Component and all Indemnitees from, and hereby waive and relinquish, each and every past, present and future dispute, claim, controversy, demand, right, obligation, liability, action and cause of action of every kind and nature (including personal injuries, death, and property damage), that has arisen or arises directly or indirectly out of, or that relates directly or indirectly to, any of the Sites and/or the Services (including any interactions with, or act or omission of, other Sites, Services, or Component users or any third-party services). YOU HEREBY WAIVE ANY APPLICABLE PROVISION IN LAW OR REGULATION IN CONNECTION WITH THE FOREGOING, WHICH STATES IN SUBSTANCE: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”
These terms require You to arbitrate certain disputes and claims with Component and limit the manner in which You can seek relief from us, unless You opt out of arbitration by following the instructions set forth below. In addition, arbitration precludes You from suing in court or having a jury trial. You and Component agree that any dispute arising out of or related to these Terms or our Services is personal to You and Component and that any dispute will be resolved solely through individual action, and will not be brought as a class arbitration, class action or any other type of representative proceeding.
You and Component waive Your rights to a jury trial and to have any dispute arising out of or related to these Terms or our Services resolved in court. For any dispute or claim that You have against Component or relating in any way to the Services, You agree to first contact Component and attempt to resolve the claim informally by sending a written notice of Your claim (“Notice”) to Component by email at General@component.fi. The Notice must include Your name, residence address, email address, and telephone number, describe the nature and basis of the claim and set forth the specific relief sought. Our notice to You will be similar in form to that described above. If You and Component cannot reach an agreement to resolve the claim within thirty (30) days after such Notice is received, then either party may submit the dispute to binding arbitration administered by the American Arbitration Association (“AAA”), or, under the limited circumstances set forth above, in court. All disputes submitted to AAA will be resolved through confidential, binding arbitration before one arbitrator. The most recent version of the AAA Rules are available on the AAA Website and are hereby incorporated by reference. You acknowledge and agree that You have read and understand the AAA Rules or waive Your opportunity to read the AAA Rules and waive any claim that the AAA Rules are unfair or should not apply for any reason.
The arbitrator, Component, and You will maintain the confidentiality of any arbitration proceedings, judgments and awards, including, but not limited to, all information gathered, prepared and presented in relation to the disputes. The arbitrator will have the authority to make appropriate rulings to safeguard confidentiality, unless the law provides to the contrary. The duty of confidentiality does not apply to the extent that disclosure is necessary to prepare for or conduct the arbitration hearing on the merits, in connection with a court application for a preliminary remedy or in connection with a judicial challenge to an arbitration award or its enforcement, or to the extent that disclosure is otherwise required by law or judicial decision. You and Component agree that for any arbitration You initiate, You will pay the filing fee and any remaining AAA fees and costs.
Any claim arising out of or related to these Terms or our Services must be filed within one year after such claim arose; otherwise, the claim is permanently barred, which means that You or Component, as applicable, will not have the right to assert the claim. You have the right to opt out of binding arbitration within 30 days of the date You first accepted these Terms by emailing us at General@component.fi.
Severability and Governing Law
If any portion of these Terms is found to be unenforceable or unlawful for any reason, the unenforceable or unlawful provision will be severed from these Terms, and the severance of the unenforceable or unlawful provision will have no impact whatsoever on the remainder or the parties’ ability to compel arbitration of any remaining claims on an individual basis, and to the extent that any claims must therefore proceed on a class, collective, consolidated, or representative basis, such claims must be litigated in a civil court of competent jurisdiction and not in arbitration, and the parties agree that litigation of those claims will be stayed pending the outcome of any individual claims in arbitration.
The interpretation and enforcement of these Terms, and any dispute related to these Terms, the Sites or the Services, will be governed by and construed and enforced in accordance with the laws of the State of Delaware, as applicable, without regard to conflict of law rules or principles. You agree that we may initiate a proceeding related to the enforcement or validity of our intellectual property rights in any court having jurisdiction. With respect to any other proceeding that is not subject to arbitration under these Terms, the courts located in the State of Delaware will have exclusive jurisdiction. You waive any objection to venue in such courts.
Any right or remedy of Component set forth in these Terms is in addition to any other right or remedy whether described in these Terms, under Applicable Law, at law or in equity. Our failure or delay in exercising any right, power, or privilege under these Terms will not operate as a waiver thereof. The illegality or unenforceability of any of these Terms will not affect the validity or enforceability of any other of these Terms, all of which will remain in full force and effect. We will have no responsibility or liability for any failure or delay in performance of the Sites or any of the Services, or any loss or damage that You may incur, due to any circumstance or event beyond our control, including without limitation any flood, extraordinary weather conditions, earthquake, or other act of God, fire, pandemic or infectious disease, war, insurrection, riot, accident, governmental condition, communications, power failure, or equipment or software malfunction. You may not assign or transfer any right to use any of the Sites or the Services, or any of Your rights or obligations under these Terms, without our express prior written consent, including by operation of law or in connection with any change of control. We may assign or transfer any or all of our rights or obligations under these Terms, in whole or in part, without notice or obtaining Your consent or approval. Headings of sections are for convenience only and will not be used to limit or construe such sections. These Terms contain the entire agreement and supersede all prior and contemporaneous understandings between the parties regarding the Sites and the Services. If there is a conflict between these Terms and any other agreement You may have with us, these Terms will control unless the other agreement specifically identifies these Terms and declares that the other agreement supersedes these Terms.
Component, Inc., a Delaware corporation
2140 S Dupont Highway
Camden, DE 19934
© 2022 Component, Inc.
All rights reserved. All trademarks, logos and service marks displayed on the Sites and Services are Our property or the property of other third parties.
If You have any questions or concerns regarding these Terms, please send Us a detailed message to General@component.fi, and We will address Your concerns as soon as we can and to the best of our ability.