Terms of Use Beta Version of the Risk Free Interest Rate Coding

​​​​​​​​​​​​​​​​​The Beta Version of the Risk Free Interest Rate Coding (hereinafter "B-RFR Coding") and supporting documentation is available for download.

The Release Package of the B-RFR Coding and supporting documentation include:

  •  "Preparatory phase of RFR (beta release of coding B-RFR Coding)"
  •   Zip files "EIOPA RFR B coding​" which include the source codes of the B-RFR Coding
  •  "Preparatory Phase User's Manual RFR process"
  •  "Preparatory phase B-RFR coding Template for suggestions and improvements"

 

1. Copyright ownership

The B-RFR Coding and supporting documentation is the exclusive copyright of EIOPA. None of the provisions in these Terms of Use is intended to deprive EIOPA of its rights as the copyright owner. 

2. Preparatory Phase of the RFR Coding

EIOPA is currently finalizing the development on the RFR Coding. During this preparatory phase EIOPA would like to receive feedback from stakeholders on the preparatory or "beta" version of the RFR Coding (hereinafter "Preparatory Phase"). In particular, interested parties are asked to locate any errors and to suggest improvements, in the B-RFR Coding exclusively.

3. Scope of the rights granted by EIOPA

EIOPA hereby grants the stakeholders a non-exclusive, non-sublicensable right of use on the B-RFR coding and supporting documentation in the context of the following activities:

  • use the B-RFR coding and supporting documentation;
  • reproduce the B-RFR coding and supporting documentation;
  • modify the B-RFR coding and supporting documentation, and make derivative works (see no. 4) based upon it;

strictly for the purpose of locating errors and suggesting improvements during the preparatory phase. The B-RFR coding and supporting documentation are not intended to be used in a production environment and should not be relied on to replace other tools which are currently in use.

The distribution, communication to the public or any other use of the B-RFR Coding and documentation, other than as authorised under these Terms of Use, is prohibited.

The right of use shall exist until 31 August 2015, which marks the end of the preparatory phase.

4. Derivative works

Any future derivative works and rights thereof made by the stakeholder or on behalf of the stakeholder on the B-RFR Coding are hereby irrevocably and unconditionally assigned to EIOPA.

The assignment of the derivative works applies worldwide and for the entire duration of the copyright protection of the derivative works. The assignment of the copyright on these works shall occur automatically at their respective moment of creation.

The assignment includes all forms of exploitation of the derivative works, both known and unknown, such as but not limited to:

  • The right to reproduce the derivative work, both partially and as a whole, regardless of the platform or carrier being used, both physically and digitally, both permanent or temporary;
  • The right to incorporate, integrate and apply the derivative work in any context, website, system or other piece of software;
  • The right to distribute the derivative work or a copy thereof among the public, by means of storing, selling, renting, transferring or any other way possible;
  • The right to translate, adapt and otherwise modify the derivative work in any way.

Those rights can be exercised on any media, supports and formats, whether now known or later invented, as far as the applicable law permits so.

In the countries where moral rights apply, stakeholders' rights are waived to exercise any moral right on derivative works to the maximum extent allowed by law in order to make the assignment above effective.

5. Disclaimer of Warranty

The B-RFR Coding and supporting documentation is a work in progress. It is supplied to You during the Preparatory Phase solely for purposes of testing, continuous improvement and quality control. It is not a finished work and may therefore contain defects or "bugs" inherent to its development.

For the above reason, the B-RFR Coding and supporting documentation is provided under these Terms of Use on an "as is" basis and without warranties of any kind, including without limitation merchantability, fitness for a particular purpose, absence of defects or errors, accuracy, non-infringement of intellectual property rights.

This disclaimer of warranty is an essential part of the Terms of Use and a condition for the grant of any rights to the B-RFR Coding and supporting documentation.

6. Disclaimer of Liability

In no event shall EIOPA be liable for any special, direct, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in contract or in tort, arising out of or in connection with the use or performance of the B-RFR Coding and supporting documentation, including without limitation, damages for loss of goodwill, work stoppage, computer failure or malfunction, loss of data or any commercial damage, even if EIOPA has been advised of the possibility of such damage.

In any event, the total aggregate liability of EIOPA for all claims arising out of or being the cause of any action(s) under or in connection with these Terms of Use shall not exceed the amount of 5000 €.