Legal

Schedule BL — Briefing Library

Draft — not yet in force

This document is pending legal review. It has no effective date, it does not govern anyone’s use of the Services, and it contains placeholders marked TODO that counsel must resolve before publication.

BL-1. What the Briefing Library is

The Briefing Library is a catalogue of Faraday briefings — theater, sector, thread, and key-player analyses, jurisdiction reads, and related research artefacts. Briefings are Faraday content under Section 4 of the Master Terms and are produced through the pipeline disclosed in Section 10 (AI-assisted content).

Briefings carry a vintage. A briefing states Faraday's read as of its publication date and is not updated in place unless it is republished with a new vintage. Section 8 of the Master Terms applies to every score, forecast, and posture referenced in a briefing.

BL-2. Faraday tokens — what they are

A Faraday token is a limited, revocable licence to access a unit of Faraday content or functionality. It is not money.

Tokens are, expressly:

not stored value, not a deposit, not a bank or payment instrument, and not a balance held for you;
not a gift card, gift certificate, prepaid access instrument, or general-use prepaid card;
not redeemable for cash, credit, refund, or property, in whole or in part, by you or by anyone else;
not transferable, assignable, sellable, tradeable, or giftable, and not usable by anyone other than the named individual on the account that holds them; and
not property, and confer no ownership interest in Faraday or in any Faraday content.

Tokens are consumed when you unlock or retrieve gated content. A consumed token is gone; unlocking the same item again may cost another token. Unlock durations, token costs per action, and which actions are metered are set by Faraday and may change prospectively.

Tokens may be obtained by purchase (in packs), granted with a subscription plan, or earned as a promotional reward in another Faraday product (see Schedule DC, DC-5). Tokens from every source are governed by this Schedule.

BL-3. Purchased token packs

Token packs are one-time purchases, not subscriptions. They do not auto-renew. Pack contents and prices are shown at the point of purchase and the price charged is set by Faraday's server, never by the client.

Purchased tokens are credited to your account on successful payment. Because a token is a licence to access content rather than a good, token purchases are final and non-refundable except where a refund is required by law or where Faraday determines a billing error or failed grant occurred. If a payment is charged and the corresponding tokens are not credited, contact us and we will credit them or refund the charge.

Plan-granted token allowances are part of your subscription, reset on the subscription cycle, and do not carry over between cycles unless the plan says so. Cancelling a subscription ends plan-granted allowances at the end of the paid term; it does not, by itself, remove separately purchased tokens.

BL-4. Token expiry and forfeiture

[COUNSEL REVIEW REQUIRED — EXPIRY/FORFEITURE TERMS PENDING]

This clause is deliberately unfinished. It must be settled by counsel before this Schedule is published.

Current state of the product. Faraday tokens are, as implemented today, non-expiring for separately purchased and earned balances. No expiry date, dormancy rule, service fee, or forfeiture mechanism exists in the product.

Why that is a legal question and not a product preference. A non-expiring, prepaid, customer-funded balance can be characterised as stored value. If it is so characterised, several bodies of law may attach, including:

State gift-card and prepaid-access statutes, which variously restrict or prohibit expiry dates and dormancy fees, mandate minimum validity periods, and require specific pre-purchase disclosure;
Federal prepaid-access and gift-certificate rules, to the extent a token pack is treated as a certificate rather than a licence;
State unclaimed-property and escheat law, under which an unredeemed balance can become reportable and remittable to a state after a dormancy period — an obligation that does not disappear because the issuer calls the balance a "licence"; and
Revenue-recognition treatment of unredeemed balances (breakage), which depends on the same characterisation.

Whether Faraday's "licence to access content, consumed on use" framing (BL-2) holds up against these regimes is exactly the question for counsel. The framing is a good-faith description of the mechanism; it is not a determination.

Compounding conflict — the Academy certification token grant. Faraday Academy contemplates granting tokens on course completion or certification (see Schedule FA, FA-5). That grant is an unhedged redemption liability: it creates token balances Faraday has committed to honour, with no expiry, no cap on outstanding balance, and no funding reserve, held by users who may never return. Every token so granted increases an open-ended obligation. Counsel and Myke must decide, together: whether Academy grants are capped, whether they expire on a different clock from purchased tokens, and whether the grant should be a time-limited entitlement rather than a token at all.

What must NOT happen in the meantime. Do not publish an invented expiry period. Do not publish an affirmative statement that tokens never expire — that is a durable promise that forecloses the very options counsel may need, and in some states it is itself a disclosure with legal effect. Leave this clause open until it is answered.

TODO(myke + counsel): resolve (1) expiry or no expiry, and on what clock; (2) forfeiture on account closure or termination; (3) dormancy handling and escheat posture, by state; (4) whether purchased and granted tokens are treated differently; (5) the Academy grant cap and its interaction with all of the above; (6) required pre-purchase disclosure at the point of sale.

Until this clause is settled, Faraday will not assert an expiry against any token balance, and will not represent to any user that tokens are permanent.

BL-5. Access, not ownership

Unlocking a briefing gives you access to read it on your named seat for the period stated at unlock. It does not transfer ownership, does not grant a right to redistribute, and does not survive termination of your account.

Section 5 (automated access, scraping, and machine-learning use) applies to every briefing and to the catalogue itself, including the prohibition on bulk retrieval and on using briefings to train, fine-tune, evaluate, benchmark, or ground any model. Section 2 (named-seat) applies: unlocking a briefing on your seat and circulating it inside your firm is a breach, and firm-wide access requires a team licence.

Permitted quotation of a briefing is governed by Section 6 (Permitted reuse and required attribution) of the Master Terms, including the requirement to carry the storefront source line, institutional attribution to Faraday Intelligence, a live hyperlink, and the vintage.

BL-6. Nothing here is advice

Section 7 (No advice and no reliance), Section 8 (Scores, forecasts, and vintages), Section 9 (Third-party data pass-through), and Section 10 (AI-assisted content) of the Master Terms apply in full to every briefing. Briefings are Faraday's read as of a vintage, are expected to be revised, and must not be relied on for capital allocation, siting, or transaction decisions.

Incorporation by reference

The Faraday Intelligence Master Terms of Service are incorporated into this Schedule and apply in full to your use of Briefing Library. Read them together with this document. Where this Schedule conflicts with the Master Terms, this Schedule controls for Briefing Library only, and only to the extent of the conflict.

Other storefront schedules: Jurisdiction Watch · Faraday Daily Challenge · Signal Room · Faraday Academy