Terms of Service

1. Agreement

By accessing or using munireports.com (the "Service"), you agree to these Terms of Service. If you do not agree, do not use the Service.

2. The Service

MuniReports provides AI-assisted credit research briefs for U.S. municipal issuers. Reports are generated using large language models combined with public data sources.

3. NOT A CREDIT RATING AGENCY

MuniReports is NOT a Nationally Recognized Statistical Rating Organization (NRSRO). The sentiment scores, credit assessments, and analysis we provide are research output and DO NOT constitute credit ratings. They should not be used as substitutes for ratings issued by Moody's Investors Service, S&P Global Ratings, Fitch Ratings, KBRA, or other registered rating agencies.

4. NOT INVESTMENT ADVICE

Reports are for informational and research purposes only. They DO NOT constitute investment, legal, tax, or financial advice. Nothing in a report is a recommendation to buy, sell, or hold any security. You are solely responsible for your own investment decisions and should consult licensed professionals before acting on any information from the Service.

5. Trademarks and Methodology Attribution

"Moody's," "Aaa," and related rating designations are trademarks of Moody's Investors Service, Inc. "S&P" and related rating designations are trademarks of S&P Global Ratings. "Fitch" and related rating designations are trademarks of Fitch Ratings. MuniReports is not affiliated with, endorsed by, or sponsored by Moody's Investors Service, S&P Global Ratings, Fitch Ratings, KBRA, or any other rating agency. Where reports apply the framework published in Moody's rating methodologies (including the US Cities and Counties Rating Methodology and US K-12 Public School Districts Rating Methodology, both dated July 24, 2024), the resulting "Scorecard-Indicated Outcome" is the result of applying that published methodology to public source data. It is not a Moody's rating and does not represent the opinion of Moody's Investors Service.

6. AI-generated content

Reports are generated by AI and may contain errors, omissions, or outdated information. We make no warranty that reports are accurate, complete, or current. You should independently verify any data point before relying on it.

7. Accounts

You may use the Service without an account for one free report. Saved reports require a free account. You are responsible for maintaining the confidentiality of your account credentials and for all activity under your account.

8. Payments

Paid features are billed through Stripe. Credit briefs are sold as one-time purchases at $199 per brief. Ratings advisory engagements are scoped and invoiced separately. By purchasing, you authorize us to charge your payment method.

Refunds. If a report fails to generate or is materially defective, contact admin@munireports.com within 14 days for a credit or refund. We do not offer refunds for reports that generated successfully but did not meet subjective expectations.

9. Acceptable use

You agree not to:

• Resell, redistribute, or commercialize MuniReports content without written permission
• Scrape, mass-download, or use automated tools against the Service
• Reverse engineer, copy, or attempt to extract our prompts or models
• Use the Service for any illegal purpose or to violate the rights of others
• Misrepresent reports as official credit ratings or investment advice

10. Intellectual property

The Service, its design, codebase, and methodology are owned by MuniReports. Reports you generate are licensed for your personal or internal business use. Underlying public data (ACFRs, EMMA disclosures, etc.) belongs to its respective issuers and sources.

11. Disclaimer of warranties

THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, OR NON-INFRINGEMENT. WE DO NOT GUARANTEE THAT THE SERVICE WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE.

12. Limitation of liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, MUNIREPORTS WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS, REVENUES, DATA, OR INVESTMENT VALUE, ARISING OUT OF YOUR USE OF OR INABILITY TO USE THE SERVICE. OUR TOTAL LIABILITY FOR ANY CLAIM ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICE WILL NOT EXCEED THE AMOUNT YOU PAID US IN THE 12 MONTHS PRECEDING THE CLAIM, OR $100, WHICHEVER IS GREATER.

13. Indemnification

You agree to indemnify and hold MuniReports harmless from any claims arising out of your misuse of the Service, violation of these Terms, or violation of third-party rights.

14. Termination

We may suspend or terminate your access at any time for violation of these Terms or other reasons in our sole discretion. You may stop using the Service and delete your account at any time.

15. Governing law

These Terms are governed by the laws of the State of Texas, without regard to conflict of law principles. Any dispute will be resolved in the state or federal courts located in Travis County, Texas.

16. Changes

We may modify these Terms from time to time. Material changes will be communicated via email or a notice on the Service. Continued use after changes constitutes acceptance.

17. Contact

Questions? Email admin@munireports.com.