Terms of Service

1. Acceptance of Terms

By accessing or using the PreReason API service ("Service"), you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, do not use the Service.

2. Service Description

PreReason provides pre-reasoned financial context delivered via:

• REST API
• MCP (Model Context Protocol) server
• x402 micropayment endpoints

The Service includes:

• Pre-reasoned market briefings covering Bitcoin, macro economics, cross-asset correlations, and additional asset classes as they launch
• LLM-optimized responses in markdown and JSON formats
• Interpreted metrics with trend analysis, confidence scores, and regime classification
• Near real-time and periodically updated market indicators from third-party data sources

3. Account Registration

• You must provide accurate and complete registration information
• You are responsible for maintaining the security of your account credentials
• One account per person or legal entity
• You must be at least 18 years old to use the Service
• You must promptly notify us of any unauthorized use of your account

4. Acceptable Use

You MAY:

• Use the API for personal or commercial projects
• Cache responses according to our caching guidelines
• Build applications and tools for your own use with our data
• Share derived insights with attribution to PreReason

You MAY NOT:

• Resell, sublicense or redistribute the Service's output (briefings, metrics or any part of them), whether you get it by subscription or pay for it per call through x402 or MPP, or store it to offer it to others, unless a written licence with PreReason allows it. Sharing derived insights with attribution (section 14) stays allowed.
• Circumvent or attempt to bypass rate limits
• Use the Service for illegal purposes
• Attempt to access other users' data or accounts
• Reverse engineer or decompile the Service
• Introduce malware or malicious code
• Scrape or bulk download data beyond normal API usage

Business plan: showing briefings in your product

A Business subscription includes a licence, while it is active, to show PreReason's output (briefings, metrics or parts of them) to the users of a product you own and operate. Building or running a product for another business needs an Enterprise licence. Under this licence:

1. You show it inside your product, as served or as a faithful excerpt, with attribution to PreReason (section 14).
2. You never present it as PreReason's advice or recommendation to your users, and you do not alter it, or combine it with a user's own holdings or circumstances, and then present the result as PreReason's.
3. PreReason's disclaimer is shown with it: at least "Data by PreReason, for informational purposes only. Not investment advice."
4. Any advice you give your users is your own, given under your own registration or exemption.
5. You add no direction words or colours (such as buy, sell, bullish or bearish) to PreReason's figures.
6. You do not offer it as a data feed (including through your own API), resell it, store it to offer it to others, or pass API access or keys on to your users.
7. You do not say or suggest that PreReason endorses your product or your advice.
8. Each figure keeps the source the briefing names for it and any notice it carries (for example a source citation or a CC BY attribution). Data from a third party (section 9) also stays under that provider's terms; where they do not allow it to be shown to others, this licence does not cover it. The data sources page (prereason.com/data-sources) names each provider and says whether this licence covers its figures, and in the JSON form each metric's display field answers for that metric (yes, notice or no). Check one of them before you show a figure. A figure whose source that page does not name is not covered, and where the page and the field differ, the stricter answer applies. Company figures for India are covered, and PreReason is their source.
9. You are responsible for your product and to your users. Your users are not parties to these Terms and have no rights under them, and section 16 covers any claim they bring against PreReason.

When the subscription ends, the licence ends: within 30 days you stop showing PreReason's output and delete what you stored to show it. Redistribution beyond this licence, such as a feed or supply to other businesses, needs a written Enterprise licence.

5. Rate Limits & Usage

• Rate limits vary by subscription tier (Free, Basic, Pro, Enterprise)
• Exceeding limits results in HTTP 429 responses
• Repeated abuse may result in temporary or permanent suspension
• Rate limit headers are included in all API responses
• Past your plan's daily calls, a Basic or Pro plan may use call packs (section 6). The hourly limit still applies to every call.

6. Payment Terms

• Monthly subscriptions are billed monthly in advance; annual subscriptions are billed annually in advance at a discounted rate
• All prices are in USD unless otherwise specified
• Cancellation takes effect at the end of the current billing period (monthly or annual)
• Annual subscribers receive all service updates and new features throughout their billing period
• New annual subscribers may request a full refund within 14 days of their initial purchase if unsatisfied
• No refunds for partial billing periods or unused API calls beyond the 14-day annual guarantee
• Existing annual subscribers are locked in at their current rate until renewal
• We reserve the right to change pricing with 30 days notice
• Call packs: a call pack is a prepaid allowance of API calls for a Basic or Pro plan, used only after the plan's daily calls are used. A pack is counted in calls, not money: it has no cash value and cannot be transferred, resold or exchanged.
• A pack call is used only when a call is answered successfully. Refused and failed calls use none. A whole company briefing uses one call for each block it carries, as it does on the plan.
• Packs do not expire while your account is open. If your plan ends, your packs wait until you subscribe again. If you close your account, its packs end with it; a pack bought within the last 14 days is refunded for its unused calls as below.
• A pack bought within the last 14 days is refunded for its unused calls, in proportion to its price; a pack with none of its calls used is refunded in full. After 14 days packs are not refundable, except where the law requires. This replaces, for call packs, the line above about unused API calls. A refunded or disputed pack's remaining calls are removed.
• Pack prices may change for future purchases, with the 30 days notice above; a pack already bought keeps its calls.
• Auto reload (when offered): off unless you turn it on. Before it starts we show the pack, its price, the number of calls left that triggers it, the most it may charge in a month, and how to turn it off, and you tick a box to agree. We email you to confirm it is on, and email a receipt for every charge. You can turn it off at any time in Billing.

7. x402 Micropayment Terms

This Service supports the x402 Payment Protocol for pay-per-request API access via cryptocurrency (USDC). The following additional terms apply to x402 payments:

• Pricing Subject to Change: x402 endpoint pricing is subject to change at any time without prior notice. Current prices are displayed in the API's 402 Payment Required response and on our pricing documentation, but are not guaranteed for any period of time.
• No Reliance on Current Pricing: AI agents and automated systems should not rely on current pricing remaining static. We recommend checking the 402 response for current pricing before each transaction.
• Third-Party Facilitators: x402 payments are processed through third-party payment facilitators. We are not responsible for facilitator downtime, delays, fee changes, or any issues arising from facilitator services.
• Final Transactions: All x402 transactions are final. No refunds are available for micropayments once a transaction has been processed.
• Acknowledgment: By using x402 endpoints, you acknowledge that pricing may change and agree to pay the price specified at the time of each request.

8. Financial Disclaimer

IMPORTANT: NOT INVESTMENT ADVICE

The information provided by this Service:

• Is NOT investment, financial, or trading advice
• Is provided for informational purposes ONLY
• Should NOT be the sole basis for any investment decisions
• May contain errors, delays, or inaccuracies
• Does NOT constitute a recommendation to buy, sell, or hold any asset

This applies to every market the Service covers, including Bitcoin and other digital assets, macroeconomic data, company briefings on listed companies, and commodities such as crude oil and natural gas.

A company briefing reports the figures a company has published and measures calculated from them, such as its share price, market capitalisation and valuation ratios. It is not research on, a rating of, or an opinion about any security, and it does not say whether any security should be bought, sold or held.

A commodity briefing reports spot prices, published inventories and measures calculated from them. It is not advice on trading any commodity, futures contract, option or other derivative.

PreReason is not registered as an investment adviser, a broker or dealer, or a commodity trading advisor.

Always conduct your own research and consult with qualified financial advisors before making any investment decisions.

9. Data Accuracy & Third-Party Data

THE DATA PROVIDED IS FOR INFORMATIONAL PURPOSES ONLY.

We do not guarantee:

• Accuracy or completeness of any data
• Timeliness of data updates
• Continuous or uninterrupted availability
• Error-free operation of the Service

Third-Party Data Providers. This Service incorporates data from third-party providers. Certain cryptocurrency market data is provided via the CoinGecko API. The CoinGecko API and all data obtained through it are the property of CoinGecko. CoinGecko makes no representations or warranties regarding the data, and CoinGecko shall not be liable for any damages arising from your use of data obtained through the CoinGecko API. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis. By using the Service, you agree to be bound by the FRED® API Terms of Use.

10. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW:

• We are not liable for any trading or investment losses
• We are not liable for service interruptions or downtime
• We are not liable for any indirect, incidental, or consequential damages
• Our total liability is limited to the fees you paid in the preceding 12 months

11. Termination

We may suspend or terminate your access if you:

• Violate these Terms
• Abuse the Service or engage in fraudulent activity
• Fail to pay applicable fees
• Use the Service in a way that harms other users

You may terminate your account at any time by canceling your subscription through the dashboard or contacting support.

12. Intellectual Property

The Service, including its design, features, and content, is owned by PreReason. You retain ownership of any applications you build using our API, but you may not claim ownership of the underlying data or the Service itself.

Our public pages' own text may be used to train AI models (see robots.txt). Data shown on them from third party sources stays under those sources' terms, and data served through the API stays under these Terms.

13. API Key Security

You are solely responsible for maintaining the confidentiality and security of your API keys. Treat your API keys as you would a password. Do not share your keys publicly, commit them to version control, or embed them in client-side code. You are responsible for all activity that occurs under your API keys, whether authorized by you or not. If you believe a key has been compromised, revoke it immediately via your dashboard.

14. Attribution Requirements

When displaying data obtained through the Service in public-facing applications, you must provide reasonable attribution to PreReason. Attribution may be provided via a visible "Data by PreReason" notice, a link to prereason.com, or equivalent acknowledgment appropriate to your medium. Attribution is not required for internal use or when data is substantially transformed or analyzed.

Showing PreReason's output itself to others in an application needs the Business licence (section 4) or an Enterprise licence. Wherever PreReason's output is shown to others, items 2 to 5 and 7 of that licence apply.

15. Geographic Restrictions

The Service is operated from the United States. We make no representations that the Service is appropriate or available for use in all locations. You are responsible for compliance with all applicable local, state, national, and international laws and regulations in your jurisdiction. By using the Service, you represent that accessing and using it is lawful in your jurisdiction. We reserve the right to restrict access from any jurisdiction at our sole discretion.

16. Indemnification

You agree to indemnify, defend, and hold harmless PreReason and its officers, directors, employees, and agents from any claims, damages, losses, liabilities, and expenses (including reasonable attorneys' fees) arising from your use of the Service, your violation of these Terms, or your violation of any third-party rights.

17. General Provisions

If any provision of these Terms is found unenforceable, the remaining provisions will continue in full force and effect. Our failure to enforce any right or provision of these Terms will not constitute a waiver of that right or provision.

Neither party shall be liable for any failure or delay in performance due to circumstances beyond reasonable control, including natural disasters, acts of government, internet service disruptions, or third-party service outages.

18. Modifications to Terms

We may modify these Terms at any time. Material changes will be communicated via email or prominent notice. Continued use of the Service after changes constitutes acceptance of the modified Terms.

19. Governing Law

These Terms are governed by and construed in accordance with the laws of the United States. Any disputes shall be resolved in the courts of competent jurisdiction.

20. Contact

For questions about these Terms, contact us at: legal@prereason.com

Changes to these Terms

Changed 9 October 2026: item 8 of the Business licence now covers company figures for India.

Changed 9 October 2026: in section 4, item 8 of the Business licence now says where to check which figures the licence covers: the data sources page answers for each provider, and the JSON form's display field for each metric.

Changed 8 October 2026: sections 5 and 6 of the Terms now describe call packs, prepaid calls a Basic or Pro plan can use past its daily limit (from $25 for 10,000 calls). A pack is counted in calls, is used only on calls answered successfully, does not expire while your account is open, and can be refunded for its unused calls within 14 days.

Changed 7 October 2026: section 4 of the Terms now includes the Business plan's licence to show PreReason's output to the users of a product you own and operate, with its limits. For all plans, section 4 now limits building applications to your own use, and section 14 applies the licence's display limits wherever PreReason's output is shown to others.

Changed 3 October 2026: section 4 of the Terms now allows resale or redistribution of what you get from PreReason where a written licence with PreReason allows it. Enterprise offers that licence, with price and terms agreed with you. Without one, what you get stays for your own use, and sharing derived insights with attribution is still allowed.

Changed 3 October 2026: section 9 of the Terms now links the FRED® API Terms of Use and says that, by using the Service, you agree to be bound by them, as the Federal Reserve Bank of St. Louis asks of a service that uses its API.

Changed 1 October 2026: section 4 of the Terms now says that what you get from PreReason, by subscription or per call, is for your own use and may not be resold or redistributed. Sharing derived insights with attribution is still allowed.