Terms of Service | Reamer Labs

Agreement to terms

These Terms of Service ("Terms") are a legal agreement between you ("you", "Licensee") and Chaitanya Anil Palghadmal, doing business as Reamer Labs ("we", "us", "our") governing your use of Reamer Labs' software products, Reamer Research and Reamer Server (collectively, the "Software"), and the reamerlabs.com website.

By purchasing a license, downloading, installing, activating, or using the Software in any way, you agree to be bound by these Terms. If you do not agree, do not use the Software.

If you are accepting these Terms on behalf of an organization, you represent that you have the authority to bind that organization to these Terms.

License grant

Each of Reamer Research and Reamer Server requires an active license to run. Subject to your compliance with these Terms and payment of the applicable license fee, Reamer Labs grants you a limited, non-exclusive, non-transferable, non-sublicensable license to use the Software on machines you own or control.

A license is one product on one machine. Reamer Research and Reamer Server are licensed separately: a machine running both needs one license of each, activated separately.

This is a license to use the Software, not a transfer of ownership. Reamer Labs retains all intellectual property rights in the Software, and the Restrictions section below applies regardless of license status.

30-day trial license

Each product is also sold as a paid 30-day trial license. A trial license is a purchased license on these same Terms, for a 30-day term from first activation. It is not credited toward a later annual purchase. Reamer Labs does not issue free evaluation licenses.

Individual Reamer Research license

A Reamer Research license bought through the online checkout is an individual license: it is personal to the one person named as licensee at checkout. That person may use it for backtesting, strategy development, and live or paper trading, including in the course of their employment. An employer may pay for an individual license for a named employee, and may ask us once per term to reissue it to a different named employee. Section 2A of LICENSE.txt in the kit states these terms in full.

License term

Each purchased Reamer Labs license is a term license, sold for a fixed period of 30 days (trial) or one year. The term runs from the date the key is first activated, not from the date it is issued, so a key held before deployment does not lose time. First activation is recorded once and is never reset: deactivating and reactivating a seat, including on a new machine, does not start a fresh term. The license entitles you to use the Software for that period.

When the term ends, the license expires and the Software declines to start a new process until a renewed license is activated. An already-running process is never terminated by expiry: a live Reamer Server instance that was started under a valid license continues to run, and continues to trade, after its license expires. It logs a license.expired diagnostic at intervals, and emits escalating license.expiring warnings ahead of the expiry date, so a lapsing term is visible in your operational logs before it takes effect. This is deliberate: expiry is a commercial event, and a commercial event must stay incapable of halting a running trading process.

A license covers one product — either Reamer Research or Reamer Server — on one machine for the duration of its term, with no version scoping. Reamer Research and Reamer Server are licensed and priced separately: a key issued for one does not activate the other, and a machine running both requires one license of each. A renewal delivers the latest release, and an update released during your term is sent on email request at no extra cost. A term license runs to its end date and never renews automatically. Continuing past the end of a term requires a new purchase.

Seat scope

One license key is one seat, and a seat activates one machine at a time, for the single product that key was issued for. A seat is a machine, not a person and not a process: any number of concurrent backtests, server instances, strategy processes, or binaries linked against the licensed library may run on that machine under a single seat. A Reamer Server seat covers the server process and every core-pinned strategy process beside it on the same machine. To run more than one machine concurrently, buy more seats. Each purchase is one seat; buy again for each additional seat.

To move a seat to a new machine, deactivate it on the old machine first (./reamer-license deactivate), then activate on the new one. If the old machine is no longer available, contact [email protected] to transfer the seat manually. Reamer Labs does not offer pooled or floating licensing: a key does not roam between machines while still bound, and keys may not be shared or used concurrently on more than one machine.

One license, one product, every version

Your license is tied to a machine and to one product, not to a specific version. Reamer Research and Reamer Server hold separate activations; a machine running both carries two grants, one per product, and activating or deactivating one does not affect the other.

As Reamer Labs expands the licensed product with additional asset-class modules within the OHLCV/bar-based engine, those additions are included in your existing license for the remainder of its term, not sold as separate purchases.

Permitted use

You may use the Software for any lawful purpose including:

Personal research, strategy development, and backtesting.
Internal use within your organization, subject to the seat scope above.
Academic research and educational purposes.
Building proprietary trading strategies and tools for your own use.
Generating reports and analyses for internal or client review, provided such outputs do not include or expose the Software itself.

Restrictions

You may not, and may not permit others to:

Redistribute the Software or any portion of it, in source or binary form, whether free of charge or for payment.
Sublicense, rent, lease, or lend access to the Software to any third party.
Reverse engineer, decompile, or disassemble the Software, except to the limited extent expressly permitted by applicable law and only after notifying us in writing.
Remove or alter any copyright, trademark, or other proprietary notices embedded in the Software.
Circumvent or disable the license enforcement or activation system, including a license's expiration.
Share license keys or activation credentials with anyone outside the licensee (for an individual license, anyone other than the named person), or use a seat to activate more machines than you have purchased seats for.
Use the Software to build a competing product or service whose primary function replicates the Software's core capabilities.
Use the Software for any unlawful purpose, including market manipulation, fraud, or activities prohibited by applicable securities laws.

Exceeding your purchased seats is a material breach. Colleagues within a licensed organization may use a licensed Reamer Server machine; an individual Reamer Research license is for the named person only. What is prohibited is running more machines than you hold seats for, or passing keys beyond the licensee. If we detect a key activating more machines than purchased, or in use beyond the licensee, we reserve the right to revoke it immediately without refund.

Activation and access

Once payment completes, your license key and kit download are delivered to the email address used at checkout. Activation is a one-time step per machine, per product. Run the standalone reamer-license binary included in your release archive:

./reamer-license activate <license-key> to activate on this machine.
./reamer-license deactivate to deactivate (for example, before transferring to a new machine).
./reamer-license status to check activation status.

Each product activates separately, so a host running both Reamer Research and Reamer Server activates twice, once with each key.

Activation writes a record to ~/.config/reamer/activation.json, signed by our license server. After activation, license validation is performed entirely locally against this signed record, so normal operation requires no internet connection and the Software makes no further contact with the license server after the initial activation (aside from a one-time request if you later deactivate). The Software is supported on Linux and macOS only.

Transferring to a new machine: run ./reamer-license deactivate on the old machine first, then activate on the new one. The server will reject activation on a new machine if the license is still active on the old one. If the old machine is unavailable, contact [email protected] to release the seat manually.

If you lose your license key, email [email protected] from the address used at purchase and we will re-send it.

Payment

Licenses are bought through the online checkout as a one-time payment per seat. Nothing renews automatically. An annual license may instead be paid by invoice, requested on the pricing page or by email to [email protected], and settled by bank transfer or through the invoice’s payment link; the license key is issued once that invoice is paid. A 30-day trial license is bought through the online checkout only. A signed order form is available on request.

Invoices are issued and payment is processed through Paddle, our authorized reseller and merchant of record. By purchasing, you also agree to Paddle's terms of service. Reamer Labs never directly handles or stores your payment card or bank information.

Invoices are payable on the terms stated on the invoice. License fees are quoted and charged per seat, for the term purchased, as a single payment for that term. Prices for new purchases may change at any time; a price change never affects a license already purchased, which continues to work exactly as described in License grant for the remainder of its term.

Your license key and the account record tied to it are retained for the duration of the license term, and thereafter as required for our business and tax records, and are otherwise deleted on request or upon revocation for breach of these Terms, as described in Termination.

Refunds

All sales are final. Because the Software is digital and is delivered and made usable as soon as your license key is issued, we do not offer refunds once a key has been issued against a completed payment.

The Software is licensed for use in the course of a trade or profession, by an organization or by an individual quantitative researcher or trader. It is not offered or sold to consumers for personal, household use. By purchasing you confirm that you are acting in the course of your trade or profession.

The 30-day trial license is the point at which suitability is assessed. The kit states the Software's scope and limits in full, and the Spec Notes on this site publish its execution behavior before purchase.

A Reamer Labs license is purchased for a fixed term as a single payment, and a term runs to its end date once purchased; we do not offer partial-term refunds, pro-rated credit for unused time, or cancellation mid-term.

No financial advice

Reamer Research is a research and simulation tool, and Reamer Server carries a strategy you've already decided on into live execution through your own broker connection. No output of the Software, including backtest results, metrics, Monte Carlo simulations, equity curves, and order records, constitutes financial advice, investment advice, trading recommendations, or an offer or solicitation to buy or sell any financial instrument.

Past simulated performance is not indicative of future actual performance. Backtests are conducted on historical data and are subject to look-ahead bias, overfitting, survivorship bias, and other limitations. Results may differ materially from live trading due to execution, liquidity, market impact, and conditions not present in historical data.

You are solely responsible for any trading or investment decisions you make and for any order you route through Reamer Server. Reamer Labs is not a registered investment adviser, broker-dealer, or financial institution in any jurisdiction.

Disclaimer of warranties

THE SOFTWARE IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, RELIABILITY, OR NON-INFRINGEMENT.

REAMER LABS DOES NOT WARRANT THAT THE SOFTWARE WILL BE ERROR-FREE, UNINTERRUPTED, OR THAT DEFECTS WILL BE CORRECTED. BACKTEST RESULTS ARE SIMULATIONS AND ARE NOT GUARANTEED TO REFLECT ACTUAL MARKET CONDITIONS OR FUTURE PERFORMANCE.

Some jurisdictions do not allow the exclusion of implied warranties. In such jurisdictions the above exclusions apply to the fullest extent permitted by applicable law.

For reference, the engine's intended fill, slippage, spread, and commission behavior is documented in the execution specification. This describes how the Software is designed to behave; it is not a warranty that backtest results will reflect actual market conditions or future performance.

Limitation of liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL REAMER LABS, ITS OFFICERS, EMPLOYEES, OR AGENTS BE LIABLE FOR ANY:

INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES;
LOSS OF PROFITS, REVENUE, DATA, OR BUSINESS OPPORTUNITIES;
TRADING LOSSES OR INVESTMENT LOSSES ARISING FROM USE OF OR RELIANCE ON THE SOFTWARE OR ITS OUTPUTS;
DAMAGES ARISING FROM UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR DATA.

IN ALL CASES, REAMER LABS'S TOTAL CUMULATIVE LIABILITY TO YOU FOR ANY CLAIM ARISING OUT OF OR RELATED TO THESE TERMS OR THE SOFTWARE SHALL NOT EXCEED THE AMOUNT YOU PAID FOR THE LICENSE.

These limitations apply regardless of the theory of liability (contract, tort, strict liability, or otherwise) and even if Reamer Labs has been advised of the possibility of such damages.

Termination

These Terms remain in effect for as long as you possess or use the Software.

Expiry of a term

A term license ends on its own at the close of the term purchased, without notice from either party and without termination for cause. On expiry the Software declines to start new processes until a renewed license is activated, while any process already running continues uninterrupted, as described under License term. Expiry is not a revocation: it carries none of the consequences set out under Restrictions below, and you may renew at any time.

Termination by you

You may stop using the Software at any time. A Reamer Labs license is purchased for a fixed term as a single payment, so stopping use is all that is required: discontinue use, or let the term lapse. No refund is issued for the unused remainder of a term, per Refunds.

Termination by Reamer Labs

We may revoke your license key and terminate your access immediately, without refund, if you:

Breach any term in the Restrictions section.
Share your license key with unauthorized users.
Attempt to circumvent the activation or validation system.
Use the Software for unlawful purposes.
Engage in fraudulent refund requests or chargebacks.

Effect of termination

Upon termination, your license key is revoked. Because license validation is performed locally, on your machine, and does not contact our servers during normal operation, revocation takes effect the next time the Software is activated or reactivated on a machine, or the next time our license server is otherwise contacted (for example, during a machine transfer), rather than instantly on a machine that is already running. You must delete all copies of the Software from your machines upon termination. Sections covering liability, disclaimers, restrictions, and governing law survive termination.

Changes to these terms

We may update these Terms from time to time. When we do, we will update the effective date at the top of this page. For material changes, meaning those that meaningfully affect your rights or obligations, we will notify active license holders by email at least 14 days before the changes take effect.

Your continued use of the Software after the updated Terms take effect constitutes your acceptance of the revised Terms. If you do not agree to the revised Terms, you must discontinue use of the Software.

Governing law

These Terms are governed by and construed in accordance with the laws of India, without regard to its conflict-of-laws principles. Any dispute arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts at Pune, Maharashtra, India.

If any provision of these Terms is found to be unenforceable, the remaining provisions will continue in full force and effect.

Contact

For questions about these Terms, licensing, or support:

General and licensing: [email protected]
Privacy and data: [email protected]
Website: reamerlabs.com