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General Terms and Conditions of eval CZ s.r.o

Contents

This English version was machine-translated.

1. Introductory provisions and identification of the provider

These General Terms and Conditions (hereinafter the GTC) govern the rights and obligations between eval CZ s.r.o., with its registered office at Zahradnická 254/2, 250 01 Brandýs nad Labem, Company ID No. 19787804, registered in the relevant Commercial Register (hereinafter the Provider), and persons who order or use the Provider's services available mainly through the website https://eval.cz (hereinafter the Client or User).

The Provider focuses on valuations of business enterprises, businesses, business interests, selected business-related assets, indicative valuation outputs, expert opinions, individual expert opinions, consultations, and related digital services. These GTC are designed to cover standardized products available on the website, individual engagements, as well as cases where the Provider arranges or coordinates the preparation of an expert witness opinion in cooperation with an expert witness, expert witness office, or expert witness institute.

The GTC form an integral part of the agreement concluded between the Provider and the Client. Deviating written arrangements in an individual offer, order, agreement, or e-mail communication confirmed by the Provider prevail over these GTC. Unless certain matters are governed by a special arrangement, these GTC apply in full.

By submitting an order, paying the service price, creating a user account, uploading materials, or otherwise demonstrably starting to use the services, the Client confirms that they have read these GTC, understand their content, and agree to them. In the case of a consumer, this consent must be obtained in a manner corresponding to consumer protection legislation.

2. Definition of basic terms

For the purposes of these GTC, the Client means a natural or legal person who orders a service from the Provider. A Consumer is a natural person who concludes an agreement with the Provider or otherwise deals with the Provider outside the scope of their business activities or independent professional practice. An Entrepreneur is a person who concludes an agreement in connection with their business or independent professional practice; an entrepreneur typically also includes a business corporation, association, municipality, or other legal person ordering a valuation for its activities.

SW or software means the web application, interface, database, forms, calculation models, and other digital tools operated by the Provider for the purpose of collecting data, processing materials, preparing valuation calculations, generating outputs, and communicating with the Client. SW may include both automated calculation parts and parts processed by an expert.

Materials means all information, documents, financial statements, reports, general ledgers, tax returns, agreements, business plans, asset lists, information on receivables and liabilities, ownership data, organizational information, management comments, and other inputs submitted or made available by the Client. Materials may be entered into the SW, sent by e-mail, handed over in paper form, or communicated during a consultation.

Output means, in particular, a PDF document, expert opinion, valuation, calculation, commentary, consultation conclusion, table, rating, management summary, or other document or information created by the Provider. The Output may be standardized, partially automated, or individually prepared.

An Expert Opinion is a document prepared by the Provider as a professional economic statement on the value of a business, enterprise, interest, or other valued item. An Expert Opinion is not an expert witness opinion under the Act on Expert Witnesses and is not prepared under the regime of expert witness activities unless expressly stated otherwise.

An Individual Expert Opinion is an extended expert opinion prepared with a higher degree of individualization, typically in cases of non-standard materials, a more complex purpose, a higher enterprise value, a dispute between parties, specific assets, significant risks, or a requirement for individual methodological work. An Individual Expert Opinion is not an expert witness opinion.

An Expert Witness Opinion is an opinion prepared by a person authorized to perform expert witness activities under special legal regulations. If the Provider offers an expert witness opinion, it does so either as a coordination and materials-preparation service or in cooperation with the relevant expert witness, expert witness office, or expert witness institute. The scope, responsibility, and process of such a service are governed by a special offer or agreement.

3. B2B and B2C regime

These GTC apply both to relationships with entrepreneurs (B2B) and to relationships with consumers (B2C). Provisions intended exclusively for consumers apply only if the Client acts as a consumer. Provisions intended for entrepreneurs apply in particular to orders placed by legal persons, self-employed natural persons, accountants, tax advisors, attorneys, real estate intermediaries, transaction advisors, or persons ordering the service in connection with business.

When placing an order, the Client is obliged to state whether they are ordering the service as a consumer, entrepreneur, representative of a legal person, or another person acting in a professional capacity. If the Client provides a company identification number, company name, VAT number, entrepreneur billing details, or orders the service for the purposes of a business decision, they are deemed to be acting as an entrepreneur unless the circumstances clearly indicate otherwise.

In B2B relationships, the contracting parties agree that, to the maximum extent permitted by law, protective provisions intended for consumers shall not apply. The entrepreneur acknowledges that valuation Outputs are professional economic materials and that final business, investment, transaction, tax, accounting, or legal decisions are made at the entrepreneur's own responsibility.

In B2C relationships, the Provider will provide the consumer with information required by law, in particular information on the Provider's identity, price, payment method, main characteristics of the service, the right of withdrawal from the agreement or the loss of that right, the complaint procedure, and the possibility of out-of-court resolution of consumer disputes. If any information follows from the order form, price list, or separate notice, it is considered part of the contractual documentation.

4. Types of services and products

The Provider may offer, in particular, the following services: standard expert valuation for inheritance proceedings, standard expert valuation for settlement of community property of spouses, comprehensive valuation for the purchase or sale of a business, startup valuation, valuation of the contribution of a self-employed person's business into a company, individual expert opinion, consultations, processing or digitalization of materials, and coordination of an expert witness opinion.

Standardized products are intended for typical situations and are based on a predefined scope of materials, methodology, Output structure, and deadline. Their price is usually lower because they are partially standardized and assume a regular business structure, a reasonable scope of accounting data, and the absence of extraordinary circumstances. A standardized product may not be suitable for more complex disputes, significant assets not recorded in the accounts, holding structures, extensive transactions, foreign elements, non-standard accounting, extensive overdue receivables and liabilities, or situations where detailed opposition by the other party is expected.

An Individual Expert Opinion is intended for cases where a standard product is not sufficient in terms of purpose, scope, or the required degree of individualization. The Provider is entitled to propose changing a standard product to an Individual Expert Opinion if, after reviewing the Materials, the Provider finds that the standard Output would not be sufficient or could be misleading. In such a case, the Provider will submit to the Client a proposal for further steps and any price difference.

An Expert Witness Opinion is a different category. An expert opinion by eval CZ s.r.o. may serve as practical material for negotiations, inheritance proceedings, divorce settlement, management decision-making, or orientation regarding the value of a business, but it is not automatically an expert witness opinion. If a legal regulation, court, administrative authority, notary, bank, or other institution requires an expert witness opinion, the Client is obliged to inform the Provider of this in advance.

5. Order, conclusion of the agreement, and refusal of an engagement

An order may be placed via a web form, e-mail, telephone agreement subsequently confirmed in writing, an individual offer, or another method enabled by the Provider. The agreement is concluded at the moment the Provider confirms the order, or at the moment the price is paid, an account is created, or performance begins, whichever occurs first and corresponds to the specific ordering process.

The order must contain at least the identification of the Client, contact details, the selected service, the purpose of the valuation, identification of the valued person or business, and any other information required by the form. The Client is responsible for ensuring that the person placing the order is authorized to act on behalf of the company or person whose data are being submitted.

The Provider is entitled to refuse an order or terminate an engagement in progress, in particular if the Materials are manifestly insufficient, untrue, contradictory, or incomplete; if there is suspicion of misuse of the service; if processing could be contrary to legal regulations or professional ethics; if there is a conflict of interest; if the Client does not provide the necessary cooperation; if the Client requests a conclusion that is not professionally defensible; or if it becomes apparent that the service is to be used for a purpose requiring an expert witness opinion and the Client refuses the corresponding regime.

If an engagement is refused before performance begins, the Provider will refund any amount paid, unless agreed otherwise. If the Provider has already begun performance, carried out analysis, consultation, review of Materials, calculation, or other professional work, the Provider is entitled to set off a reasonable part of the price corresponding to the performance already provided.

6. User account, SW, and technical conditions

Use of certain services may require the creation of a user account. A user account may be created automatically upon the first order or registration. The User is obliged to provide true, complete, and up-to-date data and to protect their access credentials against misuse. The User must not allow unauthorized access by third parties, especially if confidential business information is stored in the account.

The SW is provided as a web service. The Provider does not grant Users any license to the source code, calculation models, database structure, know-how, templates, methodology, or other non-public elements of the SW. The User is entitled to use the SW only to the extent necessary for the ordered service.

The User must not copy the SW, analyze it for reverse engineering purposes, mine it automatically, circumvent technical restrictions, attempt to obtain non-public calculation models, disrupt service availability, insert malicious code, or use the SW in a manner that could harm the Provider, other users, or third parties.

The Provider is entitled to update, modify, expand, limit, temporarily shut down, or otherwise secure the SW. Short-term unavailability of the SW due to maintenance, security intervention, technical fault, third-party interference, or force majeure does not give rise to a claim for a discount or damages unless a legal regulation provides otherwise.

7. Materials, input data, and Client responsibility

The Client is responsible for the accuracy, completeness, truthfulness, timeliness, and legality of all Materials and input data submitted to the Provider. This responsibility applies in particular to accounting statements, tax data, information on assets, liabilities, receivables, employees, contracts, disputes, extraordinary events, ownership structure, planned development, and the purpose of the valuation.

The Provider is not an auditor and is not obliged to verify the truthfulness of Materials in a manner corresponding to an audit, forensic review, due diligence, or expert witness evidence. Unless expressly agreed otherwise, the Provider assumes that the Materials provided by the Client are accurate and complete. The Provider may point out obvious inconsistencies, but by doing so does not assume responsibility for detecting them.

The Client is obliged to inform the Provider of all facts that may have a significant impact on the value of the business, in particular litigation, tax audits, overdue liabilities, pledges, guarantees, significant contracts, dependence on key persons, dependence on major customers or suppliers, material changes after the financial statement date, extraordinary one-off revenues or costs, non-operating assets, assets not recorded in the accounts, and transactions with related parties.

If the Client provides incorrect, incomplete, or misleading Materials, the Client is responsible for the impact of those Materials on the valuation result. The Provider is not liable for incorrectness of the Output to the extent caused by incorrect, incomplete, delayed, or concealed information from the Client.

8. Cooperation, deadlines, and supplementing Materials

The Client is obliged to provide the Provider with reasonable cooperation necessary for provision of the service. Cooperation includes, in particular, timely submission of Materials, answers to follow-up questions, clarification of ambiguities, completion of missing documents, and designation of a contact person authorized to communicate regarding the engagement.

Delivery deadlines stated in the price list, on the website, or in an offer begin to run only from the moment the Provider receives all Materials necessary for processing the relevant type of service and the price or agreed advance payment has been paid. If the Client supplies Materials gradually, late, in illegible form, or in a scope requiring additional processing, the deadline is extended accordingly.

If the Client fails to provide cooperation even after being requested by the Provider, the Provider is entitled to suspend the engagement, prepare the Output with reservations, change the deadline, propose a price adjustment, or withdraw from the agreement. This is without prejudice to the Provider's right to payment for work already performed.

In justified cases, the Provider may request additional Materials even after processing has begun. Such a request does not mean that the Provider guaranteed in advance the sufficiency of the original Materials. Business valuation is a professional activity in which the need for additional information may become apparent only during the analysis.

9. Valuation methodology and professional judgment

The Client acknowledges that valuation of a business, enterprise, business interest, or other business value is not a mechanical calculation with a single correct result. Business value is a professional estimate that depends on the purpose of the valuation, valuation date, available information, methodology used, assumptions, risk factors, market environment, and the professional judgment of the person preparing it.

The Provider may use, in particular, income methods, asset-based methods, market comparison, methods based on multiples, economic value added methods, discounted cash flow methods, capitalization of earnings, book value, replacement or substance approaches, startup methods, or a combination of these methods. The choice of method belongs to the Provider unless expressly agreed otherwise.

Different experts may reach different conclusions when using different methods, parameters, normalizations, discount rates, market multiples, working capital adjustments, risk premiums, or assumptions regarding future development. The mere fact that another professional, expert witness, counterparty, financial advisor, buyer, or seller reaches a different value does not constitute a defect in the service.

The valuation relates to a specific valuation date. Later facts, market changes, changes in operations, new information, changes in the legal environment, changes in interest rates, inflation, loss of a customer, emergence of a dispute, or another subsequent event may significantly affect the value. The Provider is not liable for changes in value after the valuation date unless an updated valuation has been expressly agreed.

10. Expert Opinion, Individual Expert Opinion, and Expert Witness Opinion

An Expert Opinion prepared by the Provider is a professional economic Output. It may be used as supporting material for internal decision-making, negotiations between shareholders, inheritance proceedings, settlement of community property of spouses, orientation when selling or purchasing a company, management decision-making, or a preliminary consideration of enterprise value. However, it is not an expert witness opinion unless it is expressly stated that it was prepared by a person authorized to perform expert witness activities in the relevant field and specialization.

An Individual Expert Opinion is intended for situations where a standard valuation Output is not sufficient. It may contain more detailed methodological considerations, a greater scope of analysis, multiple variants, sensitivity analysis, expanded commentary on risks, assessment of specific assets, adjustments for extraordinary items, individual work with market comparison, or separate annexes.

An Expert Witness Opinion is a special legal institute. If an expert witness opinion is required for the given purpose, this fact must be communicated before the order is placed. The Provider is not obliged to assume that the Client needs an expert witness opinion if the Client orders an Expert Opinion, indicative valuation, or standard product. The Provider is not liable for an institution, court, notary, bank, or counterparty rejecting an Expert Opinion solely because it required an expert witness opinion.

If the Provider arranges an Expert Witness Opinion in cooperation with a third party, responsibility for the expert witness act itself is borne by the person authorized to prepare it under the relevant legal regulations and contractual arrangements. The Provider may be responsible only for its own activities actually performed as part of coordination or preparation of Materials.

11. Special clauses for inheritance proceedings

A valuation for inheritance proceedings is typically intended as supporting material for probate proceedings, for communication with a notary acting as court commissioner, heirs, or other participants in the proceedings. The Client acknowledges that the requirements of a specific notary, court, or participants in the proceedings may vary and that the Provider cannot guarantee that every notary will accept an Expert Opinion without further questions or requirements.

In inheritance proceedings, correct determination of the valuation date is essential. The Client is obliged to inform the Provider of the date of death of the deceased, identification of the valued company, size of the interest, any transferability restrictions, existence of articles of association or a shareholders' agreement, information on the company's activity or inactivity, and availability of financial statements. If the Materials are older or incomplete, the valuation may be prepared with reservations.

A discount for an inactive company or simplified regime applies only if the company truly does not carry out significant business activity, has no significant hidden assets, is not involved in material disputes, has no extraordinary liabilities, and the Materials do not indicate the need for individual analysis. If, during processing, it becomes apparent that the company is not simple or inactive, the Provider is entitled to propose a change in the service and price.

A valuation for inheritance proceedings does not constitute a legal opinion on inheritance claims, validity of a will, settlement of co-ownership, tax issues, or procedural steps in the proceedings. In these matters, the Client must contact an attorney, notary, or tax advisor.

12. Special clauses for settlement of community property of spouses and disputes between shareholders

A valuation for settlement of community property of spouses or for a dispute between shareholders is typically more sensitive than an ordinary indicative valuation. The Client is obliged to state in advance whether the valuation is intended for an agreement between the parties, court proceedings, mediation, negotiations, preliminary orientation, or opposition to another Output.

The Provider prepares the Output based on Materials submitted by the Client. If the other party to the dispute has not provided its own statement or Materials, the Output may be limited by the available information. This fact may be stated in the Output reservations. The Provider is not liable for the other party submitting different Materials, challenging the inputs, or requesting an expert witness opinion.

In the case of community property of spouses, it may be decisive whether the subject of valuation is a business interest, enterprise value, settlement share, ownership participation, or another item. The Provider does not provide a legal assessment of what exactly should be subject to settlement unless expressly agreed as a separate legal service by an authorized person. The Provider proceeds from the purpose and assignment communicated by the Client.

If the Output is intended for court litigation, the Client acknowledges that the court may require an expert witness opinion or appoint an expert witness. An Expert Opinion may serve as supporting material, argumentation material, or a basis for deciding on further steps, not as a guarantee of procedural success.

13. Special clauses for M&A, sale, and purchase of a business

A valuation for the purchase or sale of a company, business interest, or enterprise serves as an economic basis for decision-making. It does not constitute investment advice, a guarantee of the purchase price, a guarantee that a transaction will be achieved, legal due diligence, tax due diligence, financial due diligence, or an audit. If the Client needs a comprehensive transaction review, it must be agreed separately.

The transaction price may differ from the professionally estimated value due to synergies, a specific buyer, bargaining position of the parties, transaction structure, earn-out mechanism, financing, warranties and representations of the seller, market conditions, competitive process, time pressure, or strategic interest. The Provider is not liable for the actual purchase price being the same as the valuation.

The Client is obliged to state whether the subject of valuation is the business as a whole, enterprise, business interest, minority interest, majority interest, assets without debts, equity value, enterprise value, or another item. If this item is not clearly specified, the Provider will choose an approach corresponding to the nature of the ordered service and state it in the Output.

In M&A valuation, it may be necessary to normalize operations, adjust for non-operating assets, make working capital adjustments, analyze debt, assess dependence on owners or key persons, and take other individual steps. If these steps exceed the standard product, the Provider may require an Individual Expert Opinion to be agreed.

14. Price, payment terms, and advance payments

The service price is determined by the current price list on the website, an individual offer, or a separate agreement. Prices may be stated as fixed prices, prices from a certain amount, hourly rates, flat fees, or a combination of these forms. If the price is stated as from, it is the minimum price for a simple case, and the final price is determined according to the purpose, scope, complexity, quality of Materials, deadline, and required degree of individualization.

Unless agreed otherwise, the price is payable before provision of the service begins. For Individual Expert Opinions, Expert Witness Opinions, larger engagements, or engagements with a longer deadline, the Provider is entitled to require an advance payment, interim payments, or payment of the full price in advance. The Provider is not obliged to begin or complete the service before the agreed price or advance payment is paid.

Payment is considered made at the moment the full amount is credited to the Provider's account or successful online payment is confirmed. A tax document is issued in accordance with legal regulations. The Client is responsible for the accuracy of billing details.

If, after payment, the Client does not use the SW, does not upload Materials, or does not provide cooperation within the period specified in the order or in these GTC, this fact does not automatically give rise to a claim for a refund of the price. Depending on the circumstances, the Provider may offer an extension of the period, change of service, or partial crediting of the price toward another service, but is not obliged to do so if it has already reserved capacity, begun work, or provided digital access.

15. Delivery of the Output and form of handover

The Output is usually delivered electronically in PDF format, or in DOCX, XLSX, or another format if agreed. The Output may be made available in the user account, sent by e-mail, or handed over in another manner agreed with the Client. Paper copies, printing, certified copies, special annexes, or processing of paper Materials may be charged separately.

Deadlines stated for products are customary or indicative unless expressly stated to be a fixed guaranteed deadline. The deadline is calculated from the moment all conditions for processing have been met, in particular payment of the price, delivery of complete Materials, and answers to follow-up questions.

The Provider is entitled to deliver the Output with reservations if some Materials were unavailable, incomplete, or contradictory. Reservations in the Output are not a defect in the service if they correspond to limitations arising from the supplied Materials or assignment.

The Client is obliged to check the Output upon receipt and notify the Provider without undue delay of obvious errors, such as typos in the company identification, an incorrect date, a missing annex, or an obvious technical problem. This is without prejudice to the right to complain about substantive defects under the complaints article.

16. Consumer notice and withdrawal from the agreement

If the Client is a consumer, the Client has the rights provided by the Civil Code and consumer protection regulations. The Provider is obliged to provide the consumer with information on the main characteristics of the service, price, payment method, delivery, complaint procedure, the existence of the right to withdraw from the agreement, or the conditions under which this right expires.

The consumer acknowledges that the Provider's services often have the nature of a service prepared according to an individual assignment, a digital service, or digital content delivered electronically. For certain services, the right of withdrawal may be limited or may expire if the consumer expressly agrees to the commencement of performance before the withdrawal period expires and is informed that, by provision of the performance or delivery of digital content, the consumer loses the right of withdrawal to the relevant extent.

Before commencing performance prior to expiry of the statutory withdrawal period, the Provider may require the consumer to give express consent in this wording or similar wording: I agree that eval CZ s.r.o. may begin providing the ordered service or delivering digital content before the expiry of the withdrawal period. I acknowledge that after the service has been fully provided or the digital content delivered, I lose the right to withdraw from the agreement to the extent provided by the Civil Code.

If the consumer withdraws from the agreement at a time when the Provider has already begun performance based on the consumer's express consent, the consumer is obliged to pay a proportionate part of the price corresponding to the performance provided until the moment of withdrawal, if a legal regulation provides for such possibility. For custom-made Output or digital content delivered with the consumer's consent, the right of withdrawal may be excluded or may have expired in accordance with the law.

The consumer may exercise rights arising from defective performance and complaints under these GTC. Provisions on withdrawal from the agreement due to defects in digital content or a digital service apply to the extent provided by legal regulations.

17. Complaint procedure

The Client is entitled to complain about defects in the provided service or Output. It is advisable to submit the complaint in writing to the Provider's contact e-mail and state the order identification, description of the defect, part of the Output to which the complaint relates, proposed method of resolution, and the Client's contact details. The Provider may request that the complaint be supplemented if it is not clear what it concerns.

A complainable defect includes, in particular, an obvious technical error, incorrect transfer of supplied data, a missing agreed part of the Output, calculation error, inconsistency with the agreed scope of the service, or another error that is objectively assessable in relation to the order and supplied Materials. The Provider is entitled to remedy the defect by correction, supplementation, explanation, recalculation, or a reasonable discount, depending on the nature of the defect.

A defect does not include, in particular, a different professional opinion of another person, the Client's disagreement with the resulting value, a difference between the valuation and the Client's expectation, a difference between the valuation and an offered or purchase price, a change in circumstances after the valuation date, rejection of the Output by a third party due to a requirement for an expert witness opinion, or the impact of the Client's incorrect or incomplete Materials.

The Provider will handle the complaint without undue delay. For consumers, the complaint will be handled within the period provided by legal regulations unless a longer period is agreed with the consumer. For entrepreneurs, the contracting parties agree that the handling period depends on the complexity of the complaint, scope of Materials, and need for professional review.

If the complaint is justified, the Provider will provide reasonable remedy. If the complaint is unjustified, the Provider will reject it with reasons. If the Client requests, beyond the complaint, a new valuation, change of purpose, addition of new Materials, recalculation to another date, or reaction to new facts, such work may be charged as a new service or consultation.

18. Limitation of liability and exclusion of warranties

The Provider is liable for providing the service with professional care corresponding to the nature of the ordered service, available Materials, and agreed scope. However, the Provider does not warrant that the Output will lead to a particular business result, achievement of a purchase price, success in a dispute, approval by a notary, court, bank, investor, or counterparty, or to a tax or accounting result expected by the Client.

The Provider is not liable for direct or indirect damages, lost profit, loss of business opportunity, reputational harm, data loss, sanctions, investment losses, an unfavorably agreed transaction, or other consequences of decisions made by the Client or a third party based on the Output, unless such liability cannot be excluded under mandatory legal regulations.

To the maximum extent permitted by law, the Provider's total liability for harm arising in connection with a specific service is limited to the amount corresponding to the price actually paid by the Client for that specific service. For free services, introductory consultations, or indicative previews, liability is excluded to the maximum extent permitted by law.

The limitation of liability does not apply to the extent that it would be contrary to mandatory legal regulations, in particular in cases of intentional harm, gross negligence where it cannot be contractually limited, or consumer rights that cannot be excluded.

Outputs, document structure, texts, graphics, methodological comments, tables, rating models, calculation templates, databases, and SW are protected by copyright, database maker's rights, trade secrets, or the Provider's know-how. By paying the price, the Client does not acquire ownership rights to the methodology, SW, models, or templates.

The Client obtains a non-exclusive, non-transferable authorization to use the delivered Output for the purpose stated in the order or the customary purpose of the given service. In inheritance proceedings, this is typically submission to the notary and participants in the proceedings; in community property settlement, negotiations with the other party or legal representative; in M&A, internal decision-making, negotiations with a buyer or seller, and reasonable sharing with advisors.

Without the Provider's prior written consent, the Client must not modify the Output in a way that would change its meaning, remove notices, reservations, or the Provider's identification, present the Output as the Client's own professional statement, sell it as a standalone product, use it to create a competing methodology, or publish it in a manner that could harm the Provider or distort the conclusions.

Reasonable provision of the Output to an attorney, tax advisor, accountant, notary, auditor, bank, investor, court, counterparty, or other entity to the extent corresponding to the purpose of the valuation is considered permitted unless another restriction is stated in the Output or agreement.

20. Database, anonymized data, and confidentiality

Data entered by the User into the SW may become part of a database managed by the Provider. This does not give the User any right to the database as a whole or to its technical, methodological, or analytical parts. The User retains rights to their own inputs to the extent such rights belong to them.

The Provider is entitled to use anonymized or aggregated data for improving methodology, statistical analyses, benchmarks, SW testing, quality control, and service development, provided that it is not possible to directly or indirectly identify a specific Client, valued company, or natural person from such data. Confidential and identifiable information will not be disclosed to third parties without a legal reason or consent, except for persons participating in provision of the service.

The Provider maintains confidentiality regarding non-public information learned during provision of services. Confidentiality does not apply to publicly available information, information known to the Provider before it was submitted, anonymized information, information requested by legal regulation or public authority, and information provided to cooperating persons to the extent necessary for provision of the service.

The Client acknowledges that e-mail communication and uploading documents via the internet are not entirely risk-free. The Provider adopts reasonable technical and organizational measures to protect data, but the Client is obliged to protect their access credentials and not make sensitive Materials available to unauthorized persons.

21. GDPR and personal data protection

The Provider processes personal data in accordance with the GDPR and related legal regulations. Details on personal data processing may be stated in separate Privacy Policy published on the Provider's website. These GTC govern the basic connections to service provision.

The Provider may process, in particular, identification and contact details of the Client, billing details, data of persons acting on behalf of legal persons, data contained in Materials, data on shareholders, managing directors, employees, heirs, spouses, counterparties, creditors, debtors, or other persons, if necessary for processing the ordered service.

Processing purposes include, in particular, conclusion and performance of the agreement, operation of the user account, communication, billing, preparation of the valuation, archiving, protection of legal claims, fulfillment of legal obligations, SW security, service improvement, and possibly marketing communication to the extent permitted by legal regulations.

The legal basis for processing may be performance of the agreement, fulfillment of a legal obligation, the Provider's legitimate interest, consent of the data subject, or another legal basis under the GDPR. If the Client transfers personal data of third parties to the Provider, the Client is responsible for having a legal basis for such transfer and for ensuring that the affected persons have been informed to the extent required by legal regulations.

Data subjects have rights under the GDPR, in particular the right of access, rectification, erasure, restriction of processing, objection, data portability, and the right to lodge a complaint with the Office for Personal Data Protection. Exercise of rights is assessed according to the specific situation and must not disproportionately interfere with the Provider's rights to defend legal claims, statutory archiving, or protection of confidential information of third parties.

If the Provider acts as a personal data processor in a particular processing operation, it will conclude a data processing agreement or addendum with the relevant controller if required by the nature of the relationship and legal regulations. If such an agreement is not concluded, the Provider is deemed, in the ordinary provision of its services, to act as an independent controller of personal data to the extent necessary for performance of the agreement and protection of its rights.

22. Archiving, retention of documentation, and data deletion

The Provider is entitled to retain orders, Materials, working files, communication, Outputs, and related documentation for the period necessary for performance of the agreement, handling complaints, protection of legal claims, fulfillment of accounting and tax obligations, and internal quality control. Unless agreed otherwise, the Provider may retain engagement documentation for at least five years from completion of the service.

Longer retention may be justified in particular by statutory archiving obligations, an ongoing dispute, complaint procedure, request by a public authority, need to defend legal claims, or the nature of the service. Shorter retention may be agreed individually if it does not prevent fulfillment of legal obligations or protection of the Provider's rights.

The Client may request deletion of certain Materials or closure of the user account. The Provider will assess the request with regard to legal obligations, the contractual relationship, protection of legal claims, and technical possibilities. Deletion may not be possible to the extent retention is necessary or justified under legal regulations.

The Provider is entitled to back up data for security and operational recovery purposes. Data contained in backups may be removed only as part of the normal backup overwrite cycle if immediate selective deletion is not technically possible or reasonable.

23. Consultations and supplementary services

Consultations may be provided free of charge to a limited extent, at a preferential rate for a purchased product, or at the standard hourly rate according to the price list. A free introductory consultation serves mainly for basic orientation in the Client's needs and is not a complete Expert Opinion, legal opinion, tax advice, or binding valuation.

A consultation regarding an already purchased product serves to explain the Output, methodology, main conclusions, and possible next steps. It does not include preparation of a new valuation, recalculation based on new Materials, detailed opposition to another person's opinion, or legal representation unless expressly agreed otherwise.

Processing paper Materials, digitalization, manual transcription of statements, data cleaning, extraordinary information search, preparation of annexes, on-site inspections, meetings outside standard communication, or urgent mode may be charged separately. The Provider will notify the Client of this if the need for supplementary services is apparent in advance.

Outputs from consultations are based on information communicated by the Client during the consultation and are limited in nature unless subsequently confirmed by a written Output. The Provider is not liable for incompleteness of an oral conclusion caused by the Client failing to communicate material information.

24. Force majeure, third parties, and technical risks

The Provider is not liable for delay or failure to fulfill obligations caused by force majeure, in particular outages of energy, internet, cloud services, cyberattack, extraordinary event, illness of a key person, intervention by a public authority, legislative change, epidemic, natural disaster, or another circumstance that the Provider could not reasonably influence.

The Provider may use third parties when providing services, in particular accountants, tax advisors, expert witnesses, IT suppliers, cloud services, payment gateways, external consultants, or administrative support. The Provider is responsible for selecting such persons with reasonable care if they participate in fulfilling the Provider's obligations. Third parties may be bound by confidentiality or contractual obligations corresponding to the nature of the information shared.

The Client acknowledges that no digital system is entirely fault-free. The Provider adopts reasonable measures for availability, security, and data recovery, but does not guarantee uninterrupted operation of the SW unless a special service level has been agreed.

25. Out-of-court resolution of consumer disputes and supervisory authorities

If the Client is a consumer and a consumer dispute arises between the Client and the Provider that cannot be resolved directly, the consumer has the right to contact the competent body for out-of-court resolution of consumer disputes. For the area of services provided by the Provider, this body may be the Czech Trade Inspection Authority if a legal regulation or the nature of the matter does not designate another body.

The consumer may also use information available on public administration and supervisory authority portals. This is without prejudice to the consumer's right to go to court. The Provider prefers amicable dispute resolution and invites consumers to contact the Provider with a description of the problem before filing a petition for out-of-court dispute resolution.

Supervision of personal data protection is carried out by the Office for Personal Data Protection. Supervision in the area of consumer protection may be carried out by the Czech Trade Inspection Authority or another competent authority according to the nature of the matter.

26. Changes to the GTC

The Provider is entitled to reasonably amend these GTC, in particular due to changes in legal regulations, changes in services, changes in SW, changes in the business model, addition of new products, or the need to clarify rights and obligations. The current wording of the GTC will be published on the Provider's website.

Orders already concluded on a one-off basis are governed by the wording of the GTC effective at the moment the agreement was concluded, unless the change is more favorable for the Client or otherwise agreed. For long-term services, accounts, or recurring performance, the change may be notified to the Client in an appropriate manner, in particular by e-mail or through the user account.

If the Client does not agree with a change to the GTC in a long-term relationship, the Client may terminate the contractual relationship in the manner provided in the agreement or these GTC. This is without prejudice to obligations arising before termination, in particular the obligation to pay for services already provided.

27. Governing law, jurisdiction, and final provisions

Contractual relationships between the Provider and the Client are governed by the laws of the Czech Republic. If the Client is a consumer with habitual residence in another state, this is without prejudice to the Client's rights that cannot be contractually waived under consumer protection legislation.

Disputes between the Provider and an entrepreneur will be decided by the courts of the Czech Republic with subject-matter and territorial jurisdiction. For consumers, jurisdiction is governed by the relevant legal regulations, and these GTC cannot limit consumer rights belonging to the consumer under mandatory provisions.

If any provision of these GTC proves to be invalid, ineffective, or unenforceable, this does not affect the validity of the remaining provisions. The contracting parties undertake to replace such provision with a valid and enforceable provision that will correspond as closely as possible to the original economic and legal purpose.

These Terms and Conditions enter into force and effect on 21 June 2026.

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