Abgalis Research Licence · Version ARL-1.0 · Effective 3 October 2026
These terms apply to every Abgalis Position Brief supplied in PDF form through the research request process on abgalis.com (a “Paper”). By ticking the acceptance box when you request a Paper, you agree to them on your own behalf and on behalf of the organisation named in your request. If you do not agree, please do not request or use a Paper.
The licensor is Abgalis Limited, a company registered in England and Wales (company number 17247499), registered office Flat 2, 38 Harcourt Terrace, London SW10 9JR (“Abgalis”, “we”). The licensee is the individual named in the request (“you”), acting for the organisation named in the request (“your Organisation”).
Some Papers are supplied immediately once you accept this licence; others are supplied only after we have reviewed your request, and we may approve or decline any such request at our discretion and without giving reasons. Requests must be made with a work e-mail address at your Organisation; personal, social-media, relay and disposable addresses are not accepted. You confirm that the details you give are true and that you are authorised to accept these terms for your Organisation.
If we approve your request, we grant you a personal, non-exclusive, non-transferable, non-sublicensable, revocable licence to download one copy of the Paper and to read, store and print it for your own internal professional use within your Organisation. You may quote short extracts in your Organisation’s internal documents, and in published work with clear attribution (“Abgalis Research, [title], Abgalis Limited, abgalis.com”), provided the extract is not misleading and does not substitute for the Paper.
Except as clause 3 allows, you may not: share, forward, upload, publish, sell, lend or otherwise make the Paper or any substantial part of it available to anyone else, including colleagues outside your own use, clients, or any intranet, shared drive, data room or public site; remove, obscure or alter any watermark, licence notice, reference number or copyright notice; copy, adapt, translate or create derivative works from the Paper other than permitted quotation; use the Paper, or any part of it, to train, fine-tune, evaluate, ground or otherwise feed any artificial-intelligence or machine-learning system, or submit it to any such service that may retain or learn from it; or carry out text and data mining of the Paper. Abgalis expressly reserves its rights against text and data mining, including under Article 4(3) of Directive (EU) 2019/790.
Each copy is personalised with your name, your Organisation, your e-mail address and a unique reference. We keep a record of each request, your acceptance of this licence (including its version, the date and time, IP address and country) and each download, so that the licence can be enforced. Download links are personal and work once; they expire after 15 minutes for Papers supplied immediately and after seven days for Papers supplied after review.
The Paper and all intellectual property rights in it, including copyright and database rights, and the Abgalis name and marks, belong to Abgalis Limited or its licensors. No rights are granted except those expressly set out in clause 3.
Papers are research for professional readers. They are general in nature, are not financial, actuarial, legal, regulatory, investment or other professional advice, and are not tailored to any person’s circumstances. Abgalis is not authorised by the Prudential Regulation Authority or the Financial Conduct Authority. You should take your own professional advice before acting on anything in a Paper. Papers reflect our views at the date of publication and may not be updated.
Papers are provided “as is”. To the fullest extent permitted by law, we exclude all warranties, conditions and other terms implied by law, and we are not liable for any loss or damage arising from the use of, or reliance on, a Paper, whether in contract, tort (including negligence) or otherwise. Nothing in this licence limits or excludes liability for death or personal injury caused by negligence, for fraud or fraudulent misrepresentation, or for any other liability that cannot be limited or excluded by law.
We may end this licence at any time by notice if you breach it, or if we withdraw a Paper. The licence ends automatically if you breach clause 4. When it ends you must stop using the Paper and delete or destroy all copies in your possession or control. Clauses 4 to 11 survive termination.
A breach of clause 4 may cause harm for which damages alone would not be an adequate remedy, and we may seek an injunction or other equitable relief in addition to any other remedy.
This licence is the entire agreement between us about the Paper. If any part is found unenforceable, the rest remains in force. A failure or delay in enforcing any right is not a waiver of it. No one other than you, your Organisation and Abgalis has any right to enforce these terms. We may update this licence for future requests; the version you accepted applies to the copy you received. This licence and any dispute or claim arising out of or in connection with it (including non-contractual disputes or claims) are governed by the law of England and Wales, and the courts of England and Wales have exclusive jurisdiction.
We process the details you give us to review and fulfil your request, to enforce this licence and, if your request is approved, to keep you informed about Abgalis research; you may opt out at any time. Our Privacy Policy explains how we handle personal data and your rights.
Questions about this licence, or requests for wider use (for example an organisation-wide licence), should be sent to [email protected].