From the August 01, 2008 issue of Futures Magazine • Subscribe!

Without warranty

Part of the reason vendors are slipping on data accuracy is simply because they can. Consider this language from terms of agreement for data feeds:

• “All material on the software is provided in good faith. It is derived from sources believed to be accurate. The supplier and its associates do not make any representation or warranty as to the timeliness, reliability, accuracy or completeness of the material, nor do they accept any responsibility arising in any way for errors in, or omissions from, that material.”

• “The content is provided “AS IS,” “AS AVAILABLE.” (The XYZ Exchange) does not warrant the accuracy or completeness of the information, text, graphics, links, or other items contained on the site, and the (XYZ Exchange) expressly disclaims liability for errors or omissions in these materials.”

• “Even though reasonable efforts have been made to ensure data accuracy, data errors can and do occur. You may wish to compare what is provided with other sources to verify accuracy.”

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