Dagong grants you a non-exclusive, non-transferable, limited license to access and use the Web Site for the fees, if applicable, and under the terms set forth below.

The contents of the Web Site made accessible by Dagong on the Web Site including, but not limited to, the Dagong ratings and other opinions, text, data, reports, images, photos, graphics, graphs, charts, animations and video (the Content), may be used only for your personal individual use. Except as expressly permitted under these Terms of Use, you agree not to copy, reproduce, modify, create derivative works from, or store any Content, in whole or in part, from the Web Site or to display, perform, publish, distribute, transmit, broadcast or circulate any Content to anyone, or for any commercial purpose, without the express prior written consent of Dagong. Material that appears on the Web Site that is entered by you or other Users or that is otherwise made accessible by other than Dagong is referred to as “Other Content.” Use of Other Content may be governed by other restrictions .

Images of people or places displayed on the Site are either the property of, or used with permission by, the Operator. The use of these images by you, or anyone else authorized by you, is prohibited unless specifically permitted by these Terms of Use or specific permission provided elsewhere on the Site

You may, on an ad hoc basis, use an individual Dagong rating in the ordinary course of securities disclosure activities and the drafting of deal documents internally within your organization or publish, on a non-commercial basis, individual ratings. Notwithstanding the foregoing:

You may not use the Web Site for any unlawful purpose. You shall honor all reasonable requests by Dagong to protect Dagong's proprietary interests in the Dagong Web Site.