1. Who we are
Underly is operated by Seraco Pty Ltd (ACN 673 560 757, ABN 36 673 560 757) of Victoria, Australia ("Underly", "we", "us"). Reach us through Contact, which is the address for any notice under these terms.
2. What Underly does
Underly is an information service. It reads published fund holdings, your own recorded positions and the tax statements you upload, and it organises them into look-through exposure, overlap and tax-label summaries. It reports figures and where they came from. It stops there.
- Underly does not provide financial product advice, tax advice or legal advice.
- Underly does not rank funds, does not suggest transactions, and does not tell you what to do with a holding.
- Concentration figures are neutral threshold descriptions ("CBA 11.4%, above the 10% threshold you set"), not judgements.
Underly does not hold an Australian Financial Services Licence and does not act as a registered tax agent. See the Disclaimer for the full position.
3. Your account
You need an account for anything beyond the public reference pages. You are responsible for keeping access to your passkey and your email inbox, and for the accuracy of what you record or upload. Accounts are for a single person or entity. Do not share credentials.
You must be at least 18 years old. Underly is built for Australian investors and its figures assume Australian tax rules and Australian reference data, so we offer it on that basis. If you use it from outside Australia, that is your own decision, you are responsible for complying with the law where you are, and the figures may not fit your circumstances.
4. Your data
Your holdings and tax documents are yours. We store them in Australia, encrypted at rest, to run the service for you. We do not trade your personal information, and we do not use your holdings to build products for anyone else. You can export or erase your data at any time from Your data.
How we collect, hold, use and disclose personal information is set out in the Privacy Policy, which forms part of these terms.
5. Accuracy and source data
Underly derives figures from issuer holdings files, ASX reference data and the documents you supply. Those sources have their own timing, rounding and classification limits, and a source can be wrong or stale. Underly shows the as-at date and the source for every figure so you can check it. Figures are an organised view of that source data, not an independent verification of it.
Tax figures in particular are an organising aid. Confirm every ATO label with a registered tax agent before you lodge.
6. Subscriptions and payment
Paid modules are billed in advance through our payment processor. Prices are in Australian dollars. Underly is not registered for GST, so no GST is charged on them and what you receive is a plain receipt rather than a tax invoice. You may cancel at any time; cancellation takes effect at the end of the paid period and your access continues until then.
If you change your mind, tell us within 14 days of a charge and we will refund it in full. No statutory cooling-off period applies to a subscription of this kind, so that 14-day window is what we offer in its place. After it, cancelling stops the next renewal and your access runs to the end of the period you have already paid for.
We will give at least 30 days' notice by email before a price changes. A new price applies from your next renewal, never to a period you are already in, and you can cancel before it takes effect.
Nothing in this section limits a refund or remedy the Australian Consumer Law requires. Clause 10 sets out how those guarantees work with these terms.
7. Acceptable use
- Do not scrape, resell or redistribute the reference data surfaced through Underly.
- Do not attempt to access another account's data, or to probe the service for weaknesses without written permission.
- Do not upload documents you have no right to supply.
8. Intellectual property
Underly, its interface and its derived datasets remain ours. Issuer holdings files and ASX data remain the property of their publishers and are used under the terms each publisher sets. See Source licensing, which records what those terms say and what we do because of them.
9. Availability
We aim to keep Underly running continuously, and we schedule maintenance outside Australian market hours where we can. We do not promise uninterrupted availability, and reference data refreshes on a daily cycle rather than in real time.
10. Liability
Our services come with guarantees under the Australian Consumer Law that cannot be excluded, restricted or modified. Nothing in these terms does any of those things, and nothing in them limits any other right you have that cannot lawfully be excluded.
Subject to that, and to the extent the law allows: Underly supplies information and you make your own decisions with it, so we are not liable for a decision you make about a financial product, for indirect or consequential loss, or for lost profits. Our total liability for any claim is limited to the fees you paid for the subscription period in which the claim arose.
Where the Australian Consumer Law applies to a service we supply and permits us to limit our liability, we limit it to supplying the service again or paying the cost of having it supplied again.
11. Ending your account
You can close your account at any time from Your data. Closing it erases your holdings, your uploaded documents and your derived figures. We keep a minimal audit record of the erasure itself, and any records we are required by law to retain. See the Privacy Policy.
We may suspend or close an account that breaches these terms, and will tell you why unless the law prevents us.
12. Changes
We will give at least 30 days' notice by email before a material change to these terms takes effect. Continuing to use Underly after that date means the updated terms apply.
13. Governing law
These terms are governed by the laws of Victoria, Australia, and you and we submit to the non-exclusive jurisdiction of its courts.