License and Terms

LIDO ADVISORY

Last Updated: September 28, 2026

These Terms of Use & License Agreement (the “Terms”) are entered into between Lido Group LLC, doing business as Lido Advisory (“LIDO,” “we,” “us,” or “our”), and the individual or entity purchasing, accessing, or using any LIDO Offering (“Customer,” “you,” or “your”).

These Terms govern access to and use of LIDO’s maritime data platform, vessel data, vessel valuations, valuation certificates, reports, analytics, and related products and services.

1. ACCEPTANCE OF TERMS

By purchasing, subscribing to, accessing, or using a LIDO Offering through a process that references these Terms and requires your acceptance, you agree to be bound by these Terms.

If you accept these Terms on behalf of an organization, you represent that you have authority to bind that organization, in which case “Customer,” “you,” and “your” refer to that organization.

If you do not agree to these Terms, you may not purchase, access, or use the applicable LIDO Offering.

An order form, invoice, proposal, subscription confirmation, or other written agreement issued or accepted by LIDO may contain additional terms applicable to a particular purchase or subscription.

2. DEFINITIONS

For purposes of these Terms:

“Authorized User” means an individual authorized under Customer’s applicable subscription or order to access the Platform.

“Certificate” means a vessel valuation certificate or other vessel-specific valuation report issued by LIDO.

“Data” means vessel particulars, market information, valuations, transaction information, analytics, estimates, calculations, and other data or information made available through a LIDO Offering.

“LIDO Offering” means the Platform, Data, Certificates, and any other product, service, report, analysis, or functionality provided by LIDO.

“Platform” means LIDO’s online maritime data platform and its associated functionality.

“Subscription” means a time-limited right to access the Platform and applicable Data pursuant to an order or subscription plan.

“Valuation” means any estimate, opinion, calculation, or assessment of vessel value provided by LIDO, whether through the Platform, a Certificate, or otherwise.

“Valuation Date” means the date as of which a Valuation expresses LIDO’s opinion or estimate of value, which may differ from the date on which the Valuation is generated or issued.

3. ORDERS, FEES AND PAYMENT

Customer agrees to pay all fees applicable to its purchases and Subscriptions in accordance with the applicable order, invoice, or checkout terms.

Unless otherwise stated, fees are exclusive of applicable sales, use, value-added, withholding, or similar taxes, duties, or governmental charges. Customer is responsible for such charges other than taxes imposed on LIDO’s net income.

Except as otherwise expressly stated in an applicable order or required by law, fees paid to LIDO are non-refundable.

Subscription terms, renewal provisions, cancellation rights, and applicable usage or user limits will be specified at the time of purchase or in the applicable order.

4. PLATFORM SUBSCRIPTION AND AUTHORIZED USERS

Subject to payment of applicable fees and compliance with these Terms, LIDO grants Customer a limited, non-exclusive, non-transferable, non-sublicensable right during the applicable Subscription term to permit its Authorized Users to access and use the Platform and Data for Customer’s internal business purposes.

The number and identity of Authorized Users, and any applicable usage limits, will be determined by Customer’s Subscription or applicable order.

Customer is responsible for ensuring that its Authorized Users comply with these Terms.

User accounts and credentials are personal to the applicable Authorized User and may not be shared with or used by any other person. Customer is responsible for maintaining the confidentiality and security of its accounts and credentials and for activity occurring through its accounts.

Customer shall promptly notify LIDO of any known or suspected unauthorized access to or use of the Platform.

5. TRIAL AND EVALUATION ACCESS

LIDO may, in its discretion, provide prospective customers with temporary access to the Platform on a free trial, demonstration, pilot, or evaluation basis (“Trial Access”).

Trial Access is provided solely to permit the prospective customer to evaluate the Platform and determine whether to purchase a paid Subscription. Unless expressly authorized by LIDO in writing, Trial Access and Data accessed through Trial Access may be used only for the prospective customer’s internal evaluation and may not be used for external, commercial, transactional, financing, investment, insurance, advisory, or other production purposes.

Trial users may not sell, distribute, publish, sublicense, commercially exploit, or systematically download, extract, or retain Data obtained through Trial Access. All restrictions on scraping, automated extraction, account sharing, database reconstruction, competitive use, and other prohibited uses set forth in these Terms apply equally to Trial Access.

Unless expressly authorized by LIDO, Trial Access does not include the right to generate or obtain a standard Vessel Valuation Certificate. Any valuations displayed through the Platform during Trial Access are provided solely for evaluation of the Platform and may not be represented, distributed, or relied upon as a LIDO Vessel Valuation Certificate.

LIDO may impose reasonable limits on Trial Access, including limits on duration, Authorized Users, vessels, searches, Data, downloads, functionality, or other usage.

Trial Access begins and ends on the dates communicated by LIDO or, if no end date is specified, may be discontinued by LIDO at any time. LIDO may suspend or terminate Trial Access at any time, including in the event of suspected misuse or violation of these Terms.

Upon expiration or termination of Trial Access, the prospective customer must cease accessing and using the Platform and must not retain or use Data obtained through Trial Access except for limited internal evaluation materials reasonably retained for purposes of considering a paid Subscription or as otherwise expressly authorized by LIDO in writing.

Trial Access does not automatically convert to a paid Subscription unless the prospective customer separately agrees to purchase a paid Subscription in accordance with an applicable order, checkout process, or other purchasing arrangement.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, TRIAL ACCESS IS PROVIDED “AS IS” AND “AS AVAILABLE,” WITHOUT WARRANTY OF ANY KIND, AND LIDO SHALL HAVE NO LIABILITY ARISING FROM THE USE OF TRIAL ACCESS EXCEPT TO THE EXTENT LIABILITY CANNOT LAWFULLY BE EXCLUDED.

6. PLATFORM DATA LICENSE

Subject to these Terms and the applicable Subscription, Authorized Users may access, view, analyze, and use Data made available through the Platform for Customer’s internal business activities, including internal analysis, strategy, planning, research, business development, and asset evaluation.

Customer may use limited extracts of Data in its internal work product and, where commercially appropriate, in external presentations, reports, or proposals, provided that:

(a) LIDO is identified as the source where reasonably appropriate;

(b) the Data is not materially altered or presented in a misleading manner;

(c) the use does not constitute redistribution, resale, sublicensing, or creation of a substitute for the Platform or a LIDO Offering; and

(d) the use complies with any additional restrictions applicable to third-party data.

The foregoing does not authorize bulk redistribution or systematic extraction of Data.

7. VESSEL VALUATION CERTIFICATES

Subject to payment of applicable fees and compliance with these Terms, LIDO grants the purchaser of a Certificate a limited, non-exclusive, non-transferable license to retain, reproduce, and use that Certificate for its legitimate business purposes.

Customer may disclose an unaltered Certificate to its employees, affiliates, professional advisers, financial institutions, investors, insurers, auditors, clients, and actual or prospective transaction counterparties in connection with legitimate business activities.

Customer may also reproduce reasonable extracts from a Certificate in reports, presentations, financing materials, or similar work product, provided that LIDO is clearly identified as the source and the extract is not presented in a manner that is inaccurate, incomplete, or misleading.

Customer may not sell, sublicense, commercially redistribute, repackage, or offer a Certificate as a standalone product or service without LIDO’s prior written consent.

Permission to disclose a Certificate does not constitute permission for the recipient to rely upon the Certificate.

8. THIRD-PARTY RELIANCE ON CERTIFICATES

Unless LIDO expressly agrees otherwise in writing, a standard Certificate is prepared solely for the named addressee.

Disclosure or possession of a Certificate does not create any contractual, professional, fiduciary, advisory, or other relationship between LIDO and any third party.

Unless expressly authorized by LIDO in writing, no person or entity other than the named addressee is an intended beneficiary of, or entitled to rely upon, a Certificate or to assert any claim against LIDO arising from or relating to it.

Any authorization permitting a specifically identified third party to rely upon a Certificate must be expressly provided by LIDO in writing and may be subject to additional terms and fees.

9. PROHIBITED USES

Except as expressly authorized by LIDO in writing, Customer and its Authorized Users shall not:

(a) sell, sublicense, distribute, publish, or commercially exploit the Platform or Data as a standalone product or service;

(b) share user accounts, passwords, or other access credentials with unauthorized persons;

(c) use any robot, spider, crawler, scraper, automated process, script, software, or other means to systematically access, search, copy, monitor, mine, download, extract, or collect Data from the Platform;

(d) systematically download, extract, copy, or compile Data for the purpose of creating or maintaining a separate vessel database or data repository;

(e) use the Platform or Data to develop, train, enhance, validate, or operate a competing vessel database, valuation service, data service, or substantially similar commercial product;

(f) reverse engineer, decompile, disassemble, or otherwise attempt to derive the source code, algorithms, models, proprietary methodology, or underlying structure of the Platform;

(g) circumvent or attempt to circumvent technical restrictions, security measures, access controls, usage limits, or authentication mechanisms;

(h) access the Platform through an unauthorized application programming interface or other automated interface;

(i) remove, obscure, or alter LIDO copyright, trademark, attribution, or proprietary-rights notices;

(j) use any LIDO Offering in violation of applicable law; or

(k) assist or permit any third party to engage in any of the foregoing.

10. INTELLECTUAL PROPERTY

The Platform and its software, design, organization, compilation, functionality, proprietary methodologies, models, analysis, presentation, and original content are owned by LIDO or its licensors and are protected by applicable intellectual property laws.

Except for the limited rights expressly granted under these Terms, no right, title, or interest in any LIDO Offering or LIDO intellectual property is transferred to Customer.

Customer retains ownership of information or materials supplied by Customer to LIDO, subject to the rights reasonably necessary for LIDO to use such information to provide the applicable LIDO Offering.

All rights not expressly granted are reserved by LIDO.

11. DATA SOURCES AND CUSTOMER-SUPPLIED INFORMATION

LIDO Offerings may incorporate or rely upon information obtained from public sources, proprietary sources, third-party data providers, market participants, Customer, and other sources that LIDO believes to be reliable.

LIDO does not independently verify all such information and does not warrant that third-party or Customer-supplied information is accurate, complete, current, or free from error.

Customer is responsible for the accuracy and completeness of information it supplies to LIDO.

Customer represents that it has the right to provide any information or materials it submits to LIDO for the purposes for which they are provided.

12. VALUATIONS

Valuations constitute LIDO’s estimates or opinions of vessel value as of the applicable Valuation Date based upon the information, assumptions, market conditions, and methodology applicable to the Valuation.

A Valuation is not a guarantee of the price at which a vessel can or will be purchased, sold, financed, insured, or otherwise transacted.

Unless expressly stated otherwise, Valuations are prepared without physical inspection of the vessel or independent inspection or verification of its class, maintenance, title, or other records.

Changes or corrections to vessel particulars, vessel condition, underlying information, assumptions, market conditions, transaction information, or valuation methodology may result in materially different Valuations, including for the same vessel and Valuation Date.

Valuations and Data should be considered together with the assumptions, methodology, limitations, and disclaimers accompanying the applicable LIDO Offering.

13. INFORMATIONAL PURPOSES; INDEPENDENT DUE DILIGENCE

LIDO Offerings are provided for informational and valuation purposes and do not constitute financial, investment, legal, tax, insurance, engineering, surveying, classification, regulatory, or other professional advice.

Customer is responsible for its own decisions and should independently verify information material to any transaction or decision.

Any person considering a vessel transaction should conduct such inspections, surveys, title and lien searches, class and record reviews, legal due diligence, and other investigations as it considers appropriate.

14. THIRD-PARTY DATA

Certain Data may be owned or licensed by third parties and may be subject to additional restrictions imposed by the applicable data provider.

Where LIDO identifies additional third-party terms or restrictions applicable to particular Data, Customer agrees to comply with those terms and restrictions.

LIDO is not responsible for errors, omissions, interruptions, delays, or changes in third-party information except to the extent otherwise expressly agreed in writing.

15. PLATFORM AVAILABILITY AND CHANGES

LIDO may update, modify, enhance, replace, or discontinue features or Data available through the Platform from time to time.

LIDO does not guarantee that the Platform will be uninterrupted or error-free or that particular Data or functionality will remain available indefinitely.

LIDO may temporarily restrict Platform access as reasonably necessary for maintenance, security, legal compliance, system integrity, or similar operational reasons.

16. DISCLAIMER OF WARRANTIES

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE LIDO OFFERINGS ARE PROVIDED “AS IS” AND “AS AVAILABLE.”

LIDO DISCLAIMS ALL WARRANTIES, EXPRESS, IMPLIED, OR STATUTORY, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT, TO THE EXTENT SUCH WARRANTIES MAY LAWFULLY BE DISCLAIMED.

WITHOUT LIMITING THE FOREGOING, LIDO DOES NOT WARRANT THAT THE PLATFORM OR DATA WILL BE UNINTERRUPTED, ERROR-FREE, COMPLETE, CURRENT, OR ACCURATE, OR THAT ANY VALUATION WILL CORRESPOND TO AN ACTUAL OR FUTURE TRANSACTION PRICE.

NOTHING IN THESE TERMS EXCLUDES ANY WARRANTY THAT CANNOT LAWFULLY BE EXCLUDED.

17. LIMITATION OF LIABILITY

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, LIDO AND ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES, CONTRACTORS, AND AGENTS SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE, OR CONSEQUENTIAL DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUE, BUSINESS, OPPORTUNITY, GOODWILL, OR DATA, ARISING OUT OF OR RELATING TO ANY LIDO OFFERING OR THESE TERMS, REGARDLESS OF THE THEORY OF LIABILITY AND EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, LIDO’S AGGREGATE LIABILITY ARISING OUT OF OR RELATING TO A PARTICULAR CERTIFICATE SHALL NOT EXCEED THE FEES PAID TO LIDO FOR THAT CERTIFICATE.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, LIDO’S AGGREGATE LIABILITY ARISING OUT OF OR RELATING TO A SUBSCRIPTION OR THE PLATFORM SHALL NOT EXCEED THE FEES PAID OR PAYABLE BY CUSTOMER TO LIDO FOR THE APPLICABLE SUBSCRIPTION DURING THE TWELVE (12) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM.

THE FOREGOING LIMITATIONS SHALL NOT APPLY TO LIABILITY TO THE EXTENT IT CANNOT LAWFULLY BE EXCLUDED OR LIMITED.

18. INDEMNIFICATION

To the extent permitted by applicable law, Customer agrees to defend, indemnify, and hold harmless LIDO and its affiliates, officers, directors, employees, and agents from and against third-party claims, damages, liabilities, judgments, costs, and reasonable attorneys’ fees arising out of or relating to:

(a) Customer’s or an Authorized User’s material violation of these Terms;

(b) unauthorized redistribution, resale, sublicensing, scraping, extraction, or commercial exploitation of a LIDO Offering;

(d) Customer’s material misuse of a LIDO Offering.

LIDO will provide reasonable notice of any claim for which it seeks indemnification and reasonable cooperation in the defense thereof.

19. SUSPENSION AND TERMINATION

LIDO may suspend or restrict Customer’s access to the Platform if LIDO reasonably believes that:

(a) Customer has materially violated these Terms;

(b) Customer’s account has been compromised or presents a security risk;

(d) suspension is reasonably necessary to comply with applicable law or governmental requirements; or

(e) Customer’s use materially threatens the security, integrity, or availability of the Platform.

Where reasonably practicable, LIDO will provide notice and an opportunity to cure a remediable breach before terminating a paid Subscription for breach.

Upon expiration or termination of a Subscription, Customer’s right to access the Platform terminates.

Expiration or termination of a Subscription does not, by itself, require Customer to destroy a Certificate lawfully purchased or generated during the Subscription term. Customer may retain and use such Certificate subject to these Terms, including the restrictions on redistribution and third-party reliance.

20. EXPORT CONTROLS AND SANCTIONS

Customer shall not access, export, re-export, transfer, or use any LIDO Offering in violation of applicable export-control, trade-control, or economic-sanctions laws.

Customer represents that it will not knowingly provide access to a LIDO Offering to any person or entity where doing so would cause LIDO or Customer to violate applicable sanctions or export-control laws.

20. PRIVACY

LIDO’s collection, use, and processing of personal information in connection with the Platform and other LIDO Offerings are governed by LIDO’s Privacy Policy, as updated from time to time.

22. CHANGES TO THESE TERMS

LIDO may revise these Terms from time to time.

Material changes applicable to an existing paid Subscription will be communicated through reasonable notice, such as notice through the Platform or by email to the account contact.

Unless required by law or necessary to address security, abuse, or legal compliance, material changes will apply prospectively.

Continued use of a LIDO Offering following the effective date of revised Terms constitutes acceptance of those Terms where permitted by applicable law.

23. GOVERNING LAW AND JURISDICTION

These Terms and any dispute or claim arising out of or relating to them or any LIDO Offering shall be governed by the laws of the Commonwealth of Massachusetts, without regard to its conflict-of-law principles.

Unless otherwise agreed in writing, any legal action or proceeding arising out of or relating to these Terms or a LIDO Offering shall be brought exclusively in the state or federal courts located in the Commonwealth of Massachusetts, and each party consents to the personal jurisdiction and venue of those courts.

24. ASSIGNMENT

Customer may not assign or transfer these Terms or its rights to a LIDO Offering without LIDO’s prior written consent, except in connection with a merger, reorganization, or sale of substantially all of Customer’s assets or business to which these Terms relate, provided the successor agrees to be bound by these Terms.

LIDO may assign these Terms in connection with a merger, reorganization, sale of assets, or similar corporate transaction.

25. WAIVER AND SEVERABILITY

Failure by either party to enforce a provision of these Terms does not constitute a waiver of that provision or any other provision.

If any provision is held invalid, illegal, or unenforceable, that provision shall be enforced to the maximum extent permitted by law, and the remaining provisions shall remain in effect.

26. SURVIVAL

Provisions that by their nature should survive expiration or termination, including provisions concerning intellectual property, use and distribution of Certificates, third-party reliance, prohibited uses, disclaimers, limitation of liability, indemnification, and governing law, shall survive.

27. ENTIRE AGREEMENT; ORDER OF PRECEDENCE

These Terms, together with the applicable order, invoice, subscription confirmation, and any additional terms expressly incorporated therein, constitute the agreement between Customer and LIDO concerning the applicable LIDO Offering and supersede prior or contemporaneous understandings concerning that subject matter.

If LIDO and Customer enter into a separately executed written agreement, including a master services agreement or order form, that expressly conflicts with these Terms, the separately executed agreement shall control to the extent of the conflict.

In all other respects, these Terms remain in effect.

28. CONTACT

Questions concerning these Terms may be directed to:

Lido Group LLC d/b/a Lido Advisory
8 Crown Drive, Suite 315

Quincy, MA 02169
info@lidoadv.com
www.lidoadv.com