Voleo Student Trading Competition 2019
Official Simulated Competition Rules
NO PURCHASE IS NECESSARY TO ENTER OR WIN. THE VOLEO STUDENT TRADING COMPETITION INVOLVES THE USE OF VIRTUAL SECURITIES AND CASH BALANCES. THE ODDS OF WINNING WILL BE DEPENDENT ON THE NUMBER OF CONTESTANTS AND TEAMS THAT PARTICIPATE. ENTRY IN THIS COMPETITION CONSTITUTES ACCEPTANCE OF THESE OFFICIAL COMPETITION RULES. BY PARTICIPATING IN THE COMPETITION, EACH CONTESTANT REPRESENTS AND WARRANTS THAT HE OR SHE MEETS THE ELIGIBILITY REQUIREMENTS AND HAS READ, ACCEPTS AND WILL COMPLY WITH THESE OFFICIAL COMPETITION RULES. WITHOUT LIMITATION, THIS CONTRACT INCLUDES INDEMNITIES TO HOST FROM YOU, A LIMITATION OF YOUR RIGHTS AND REMEDIES BINDING ARBITRATION OF CLAIMS, WAIVING CLASS ACTION CLAIMS, AND WAIVING THE RIGHT TO TRIAL BY JURY.
THE VOLEO STUDENT TRADING COMPETITION 2019 IS ADMINISTERED BY VOLEO TRADING SYSTEMS, INC., (‘VOLEO’, THE ‘HOST’).
APPLE INC IS NOT A HOST OR INVOLVED IN THIS COMPETITION IN ANY MANNER.
Software download and Internet access are required to participate in this Competition. Do not submit anything in this Competition that you want to keep confidential, or that you do not want others to see and use in a public setting.
By participating in the Competition, you agree to the decisions of Host, which will be final in all matters relating to this Competition.
Questions? Need Help?
Please contact: [email protected]
1. Key Dates
October 2019: Registration Opens
October 30, 2019: Portfolios are issued $1 million of simulated currency
November 1, 2019: Competition Begins (12:00:01 EST)
February 29, 2020: Competition Ends (11:59:59 EST)
March 2, 2020: Results Announced & Prizes Awarded
2. Eligibility Conditions
To enter the competition and be eligible to win a prize, a person (“contestant”) must either a permanent legal resident of one (1) of the fifty (50) United States or the District of Columbia or a non-resident student temporarily in the United States on a student visa, and be at least the age of majority in his or her state or jurisdiction of residence as of October 1, 2019. In addition, all contestants must be enrolled as grade-earning students at a university, college, community college, or other post-secondary educational institution located in one (1) of the fifty (50) United States or the c of Columbia (their “School”) throughout the entire period of the Competition. Specifically excluded from entering the competition are: employees, shareholders, officers, directors, advertising and promotional agencies of the Host(s) and each of their subsidiaries and affiliates, members of the jury and members of the immediate family (regardless of where they live) of a person mentioned above, or persons with whom such persons are domiciled (whether related to the person or not). In these Official Competition Rules, “immediate family” includes mother, father, brothers, sisters, sons, daughters, partner or spouse.
In the event of a dispute as to the identity of a contestant, the registered account holder of the email address used for participation in the Competition (as determined in Host’s sole discretion) will be deemed to be the participant, but only if that person meets all eligibility criteria for the Competition, otherwise contestant and the related team may be disqualified and any potential prize won may be forfeited in Host’s sole discretion. “Registered account holder” of an email address is defined as the natural person who is assigned to an email address.
Host reserves the right to contact contestants or their School for verification purposes and administration of the Competition. As a condition of participation, each contestant agrees to provide Host any and all requested documentation or other proof of eligibility within the specified timeframe and as requested by Host in its sole discretion. Such documentation may include, without limitation, a Confirmation of Enrollment letter (or similar) and/or a photocopy of School identification, for each contestant. Host reserves the right to disqualify at any time any individual contestant or the related team if a contestant or the team itself does not meet the eligibility criteria described in this section or has otherwise violated these Official Competition Rules, as determined in Host’s sole discretion.
The competition is based on social or group trading strategies and therefore each contestant must either form a team or be invited to participate in a team.
THE COMPETITION IS NOT OPEN TO THE GENERAL PUBLIC
A copy of these Official Competition Rules can be found at https://www.myvoleo.com/competition/official-rules/
3. Competition Composition
Each team can include grad and undergrad students from across the United States.
Each team that is formed can include students from other schools (i.e., students from Stanford, Columbia and Northwestern can all be on the same team).
Each team must have a minimum of 3 contestants.
There is no limit to the number of teams by university, college or faculty.
No identical teams are allowed.
Contestants may compete with a maximum of two teams.
Each team’s simulated trading account will initially be credited a virtual (not real) cash account of $1 million to assist in building their stock portfolio. Some teams will be allocated an additional $250,000 of virtual cash during the competition, as a capital injection (not a gain of equity). Those who have receive this will be notified so they can deploy the additional capital.
The information and content provided by a team and its individual contestants in connection with the Team Profile, individual contestant profiles, and the Competition generally (collectively and separately the “Team Content”) must meet all of the following requirements or the team, contestant, or any related activity may be disqualified in Host’s sole discretion:
Team Content must NOT depict, identify, reference or include any person, entity, brand, product, or service, other than contestants or, if proper permission has been obtained, their School.
Team Content must NOT infringe, misappropriate, or violate any rights of any third party including, without limitation, patent, copyright, including moral rights, trademark, trade secret, or right of privacy or publicity.
Team Content must not create or imply any association between Host and any individual, entity, or anyone else or his, her, or its products or services.
Team Content must NOT contain any commercial or corporate advertising (including, without limitation, corporate logos, brand names, and slogans), recognizable branded products or commercial artwork, other than related to the participant’s own School (if proper permission has been obtained from his or her School).
Team Content must NOT include information or content that is false, fraudulent, deceptive, misleading, defamatory, threatening, trade libelous, slanderous, libelous, disparaging, unlawfully harassing, profane, obscene, pornographic, hateful, indecent, inappropriate, or injurious, to any individual, any Competition Entity, or any third party.
Team Content must NOT contain or describe any harmful or illegal activity or content or in any way violate any federal, state, or local laws, rules, or regulations.
Team Content must be suitable for presentation in a public forum.
Team Content must NOT suggest, depict, or describe any inappropriate, unlawful, or dangerous behavior or use of Host’s or any other products or services.
Teams must have the right to submit and use Team Content in connection with the Competition throughout the period of the Competition. Each contestant agrees that any Competition Entity’s display and use of the Team Content will not violate any agreement to which participant is a signatory or party. Each contestant represents and warrants that he or she has all of the rights necessary to submit his or her Team Content in connection with this Competition and has all of the rights he or she purports to, agrees to, and does convey through these Official Competition Rules. Each contestant agrees to indemnify the Competition Entities against any and all claims from any third party regarding the use or reuse by any Competition Entity of the Team Content or the concepts, ideas, or materials incorporated in the Team Content.
4. Competition Rules
The competition commences November 1, 2019 (12:00:01 EST) and will run through to February 29, 2020 (11:59:59 EST). Clubs who commenced portfolio construction in October 2019 remain eligible.
Contestants & their teams will apply to enter the competition on the Voleo Equity Trading Competition Sponsored by Nasdaq website which can be found at https://www.myvoleo.com/competition/ and/or the Apple App Store or Google Play Store using the SimuTrader app. In order to participate in the competition, all students must input their first and last name, school email (.edu domain or as utilized by your institution), school, birthdate, program level (grad or undergrad) and student number in order to compete. In-app registration is completed before joining or creating a team; this limited personal information is required but any ineligible participants will result in disqualification of his or her team. In addition, each contestant agrees that any and all information that he or she supplies in the registration and sign-up process is current, truthful, and complete. If any information is found not to be current, truthful, or complete, the related team and contestant or contestants may be disqualified from the Competition in Host’s sole discretion.
Contestants are each solely responsible for maintaining the security of their Voleo account information and password, and the Competition Entities (defined below) will not be responsible or liable for any related security issue. Any attempt (successful or unsuccessful) by any contestant to register or signup for an account or portfolio in excess of any limits stated in these Official Competition Rules or on Voleo by any means, including, but not limited to, through the use of multiple email accounts, as determined by Competition Entities in their sole discretion, may result in disqualification of all accounts and portfolios related to those attempts or activities.
New teams can be formed, and new contestants can be added to existing teams, through November 15, 2019 (11:59:59 EST).
The competition is limited to trading equity securities in the following stock exchanges: NYSE, NYSE American and NASDAQ (“Stock Exchanges”), and certain crypto assets including Bitcoin, Bitcoin Cash, Ethereum Classic, Ethereum, Litecoin, DigitalCash, Monero and Zcash.
To construct an acceptable stock portfolio, teams must choose at least five stocks from the NYSE, NYSE America and NASDAQ, including exposure to at least five different sectors during the course of the competition. The maximum leveraged ETF weighting is 5% across the entire portfolio, the maximum crypto asset weighting is 5% across the entire portfolio, and the maximum exposure to any single stock is 25%. These limits may be enforced by the application and apply at the time of purchase. Trades of futures, currency, forex, and penny stocks do NOT qualify. Penny stocks are defined as any equity valued at US$5.00 or less. Opening orders in penny stocks are not allowed, but closing transactions will be allowed for equities that were initiated above US$5.00 and are closed below US$5.00.
The use of any automated script, software, macro or robotic program or any other automated or improper means to trade or participate in any way that conflicts with these Official Competition Rules or instructions or restrictions on Voleo or from Host, is strictly prohibited and may result in team disqualification, in Host’s sole discretion.
Each contestant must:
Make at least one proposal to buy and one proposal to sell a stock.
Cast at least one vote on a proposal such that they are sent to market before the expiry of the voting period.
Lock at least one hypothetical position within their ‘My Decisions’ portfolio by the end of the Competition period to be eligible for the top individual prize.
If any user is found to be manipulating the system or violating the spirit of the competition, they and their teams will be disqualified.
At their sole discretion, the Host reserves the right to verify eligibility and rule obedience and to take related reasonable action to protect the integrity of the competition, at any time and for any reason.
The simulated trading competition will have multiple prize categories totaling up to $10,000 in cash portfolio and other prizes to be won. All prizes over $100 will be paid into the respective winner’s real money Voleo account upon the winner(s) opening a brokerage account. The prizes must be invested within 30 days of receipt and cannot be withdrawn for a period of 12 months from the date received. Any prize amounts that go uninvested after 30 days, or remain after a club has withdrawn, will be immediately forfeited to the Host.
The winners must have followed all the rules contained in these Official Competition Rules.
Best Team Trading Returns (based on the highest portfolio value at the end of the competition, subject to compliance with these Official Competition Rules) across the undergrad and graduate categories in the competition.
1st Place Prize: $3,000 to be shared among the contestants forming part of the team achieving the best overall trading returns, plus a trip for 3 to New York City to tour the Nasdaq headquarters.
2nd Place Prize: $2,000 to be shared among the contestants forming part of the team achieving the second best overall trading returns.
3rd Place Prize: $1,000 to be shared among the contestants forming part of the team achieving the third best overall trading returns.
The best performing teams
The top 10 teams overall will obtain a Certificate of Excellence.
Top performance prizes
Four (4) $250 prizes will be awarded throughout the competition for top performance of categories as determined by Host.
Participants registered and approved as competition Ambassadors are eligible for an additional prize valued at $1,000. This prize will be awarded to the Ambassador who recruits the most students using their individual referral link.
The winners will be selected by a panel of judges appointed by the Host, at their sole discretion. The judges will decide on the prize winners based on proper conduct and adherence to the competition rules.
Judging will begin when the competition ends and prize winners will be announced on the Competition website on March 2, 2020 by 11:59:59 EST. Winners will be informed by email using the same address used during registration; winners will receive their prize by deposit into real money Voleo trading accounts, which winners must open by March 31, 2020. The name of the winners will be announced on the Voleo Equity Trading Competition Sponsored by Nasdaq website available at https://www.myvoleo.com/competition/.
If any prize, prize notification or Competition-related communication is rejected, faulty, or returned as undeliverable, if the potentially winning team does not respond or only partially responds according to the notification’s or Host’s instructions, if a winning team or member cannot attend or participate in any portion of a prize, if the winning team or potentially winning team fails to comply with these Official Competition Rules, or if a potentially winning team cannot be reached after a reasonable attempt has been made by Host (as determined by Host in its sole discretion), that winning team or potentially winning team may be disqualified (regardless of whether it has been announced anywhere) and an alternate winning team or potentially winning team may be selected in accordance with the winner determination procedures described above, in Host’s sole discretion. To claim the prize, each potentially winning contestant may be required to read, sign, and return a notarized Affidavit of Eligibility/Publicity Release (except where prohibited by law) and provide any supporting documentation requested by Host (which may include, without limitation, a Confirmation of Enrollment letter (or similar) from the School, a photocopy of School and/or personal identification, and a Federal IRS W-9 tax form) within fourteen (14) days of receiving the documents. Failure of any contestant to do so may result in the potentially winning team being disqualified and the selection of an alternate potentially winning team, at the Host’s sole discretion. All prize claims and Affidavits of Eligibility/Publicity Releases are subject to verification by Host. Each potentially winning team, subject to verification by Host, may be announced publicly by Host (where permitted by law) including, without limitation, on the Competition Website, on the Voleo Website, on social media pages, or elsewhere online and offline. Host reserves the right, in Host’s sole discretion, to disqualify at any time any individual contestant, or any related team, who does not meet the eligibility criteria described above or has otherwise violated these Official Competition Rules, even if the contestant or team has been notified or announced publicly or otherwise that he, she, or it may have or did win a prize.
Total Approximate Retail Value of all prizes offered in the Competition: $10,000. Actual retail value of each prize may vary. Host is not responsible for and winning teams will not receive the difference, if any, between the actual value of a prize at the time of award and the stated ARV in these Official Competition Rules or in any Competition-related correspondence or materials. Certain restrictions apply. Prize transfer is not allowed. All other expenses and costs not expressly listed above are recipient’s sole responsibility. Prize-related taxes are the sole responsibility of the recipient. A 1099 or 1042S tax form may be submitted on the prize recipient’s behalf by the Host for the actual value of the prize awarded. All prize details not specified in these Official Competition Rules will be determined in Host’s sole discretion. No prize substitutions permitted except at the sole discretion of Host, in which case a prize (or portion of the prize) of equal or greater value may be awarded. Host may be precluded from awarding prizes to non-resident students for regulatory or other reasons, to be determined by Host in its sole discretion according to its usual business practices. THE PRIZES ARE PROVIDED AS-IS WITHOUT ANY WARRANTY, REPRESENTATION OR GUARANTEE, EXPRESS OR IMPLIED, IN FACT OR IN LAW, WHETHER NOW KNOWN OR HEREINAFTER ENACTED, RELATIVE TO THE USE OR ENJOYMENT OF THE PRIZE, INCLUDING, WITHOUT LIMITATION, QUALITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
6. General Conditions
The Host reserves the right to withdraw or amend this competition in anyway, at the event of an error, technical problem or failure, computer virus, bugs, tampering, unauthorized intervention or any other cause beyond the reasonable control of the Host that interferes with the proper conduct of this competition as contemplated by these Official Competition Rules.
The Host reserves the right, with the consent of any regulatory body (if applicable), to cancel or suspend this competition, or to amend these rules at any time in anyway without prior notice or obligation.
The competition is subject to all applicable federal, state and municipal laws.
The Host accepts no responsibility for loss, damage or claims caused by or resulting from the competition or acceptance of a prize. The Host does not assume any responsibility for technical mal-functions, human or technical error, printing errors, lost, delayed or garbled data or transmissions, omission, interruption, deletion, defect or failures of any telephone or computer lines or networks, computer equipment, software or any combination thereof.
Subject to section 9 below, the decisions of the Host with respect to all aspects of this competition and these rules are final and binding on all contestants without right to appeal.
To claim their prize(s), winners agree to provide the Host and the competition corporate sponsors with access to their resumes.
As a condition of participating in this Competition (except where prohibited by law), you grant the Competition Entities the irrevocable, sublicensable, and absolute right and permission to use, publish, post, or display your Team’s and your individual Team Member name, image (including, without limitation, your individual Team Member profile picture as displayed on the Competition Website), likeness, photograph, voice, prize information, trade performance information, biographical information, any quotes attributable to you, and any other indicia of persona (regardless of whether altered, changed, modified, edited, used alone, or used with other material in the Competition Entities’ sole discretion) for advertising, trade, publicity, and promotional purposes without further obligation or compensation of any kind to you anywhere, in any medium now known or hereafter discovered or devised (including, without limitation, via text message, via social media, on the Internet, and on the Voleo Website), world-wide, without any limitation of time and without any notice or the opportunity to review or approve such use, except where prohibited by law. Nothing contained in these Official Competition Rules obligates the Competition Entities to make use of any of the rights granted in this section. You waive any right to inspect or approve any use of any of the rights granted in this section.
By participating, you acknowledge and agree that the relationship between you and Host or any of the Competition Entities is not a confidential, fiduciary, or other special relationship, and that your decision to participate in the Competition does not place Host or any of the Competition Entities in a position that is any different from the position held by members of the general public with regard to your participation, other than as set forth explicitly in these Official Competition Rules.
By participating, you understand and agree that the Competition Entities and the Competition itself do not recommend any security, financial product or instrument, nor does any mention of a particular security on Voleo constitute a recommendation to buy, sell, or hold that or any other security, financial product or investment discussed on Voleo. You understand and agree that neither the Competition nor the Competition Entities provide tax, legal, or investment advice. You understand and agree that neither the Competition nor the Competition Entities offer or provide any investment advice or opinion regarding the nature, potential, value, suitability or profitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. You understand and agree that any investment decisions you make will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, financial condition, and liquidity needs. You understand and agree that any content posted on a message board accessed via Voleo is not connected with the Competition and is only the opinion of the person posting such content.
This is not an offer or solicitation for brokerage services, investment advisory services, or other products or services in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the securities laws or other local laws and regulations of that jurisdiction.
7. Intellectual Property
All intellectual property, including without limitation, all trademarks, trade names, logos, designs, promotional materials, web pages, source code, drawings, illustrations, slogans and representations are owned or licensed by the Host and/or its/their affiliates.
All rights are reserved
Unauthorized copying or use of any copyrighted material or intellectual property without the expressed written consent of the Host is strictly prohibited.
In the event of any discrepancy or inconsistency between the terms and conditions of these rules and disclosures or other statements contained in any competition-related materials, including, but not limited to, the website and entry form, the terms and conditions of these rules shall prevail, govern, and control.
9. Personal Information
storing, sharing or using the personal information submitted with his or her entry only for the purpose of this competition using, publishing, promoting the competition and the names of winners in any type of media (including, without limitation, print and digital media) only in connection with this competition and subsequent editions, if any.
10. Indemnification Limitation of Liability and Release
In addition to the other limitations of liability expressed elsewhere in these Official Competition Rules, Host and Competition Entities are not responsible for any kind of technical or other malfunction or any human error, which may occur in the processing of participation in the Competition. The Competition Entities furnish the information available on Voleo without responsibility for accuracy and each participant agrees that errors contained in such information will not be made the basis for any claim, demand or cause of action. The Competition Entities believe their data services to be reliable, but accuracy is not warranted or guaranteed. Competition Entities are not in any way responsible or liable for any third party features or functions, including, without limitation, those related to any social media platform, which may be incorporated into Voleo. BY PARTICIPATING IN THE COMPETITION, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, YOU AGREE TO RELEASE, HOLD HARMLESS AND INDEMNIFY THE HOST, SUBSIDIARIES, AFFILIATED COMPANIES, AND PROMOTION AGENCIES, AND EACH OF THEIR RESPECTIVE OFFICERS, DIRECTORS, SHAREHOLDERS, MEMBERS, EMPLOYEES, AGENTS, ASSIGNS, BRANDING PARTNERS, AND ALL OTHERS ASSOCIATED WITH THE DEVELOPMENT AND EXECUTION OF THIS COMPETITION (THE “COMPETITION ENTITIES”) FROM ANY CLAIMS OR LIABILITY WHATSOEVER FOR INJURIES OR DAMAGES OF ANY KIND SUSTAINED IN CONNECTION WITH THE COMPETITION OR THE ACCEPTANCE, POSSESSION, USE, MISUSE, DELIVERY, OR AWARDING OF THE PRIZE, OR WHILE PREPARING FOR, PARTICIPATING IN, OR TRAVELING TO OR FROM ANY PRIZE- OR COMPETITION-RELATED ACTIVITY INCLUDING, WITHOUT LIMITATION, ANY INJURY, DAMAGE, DEATH, LOSS, OR ACCIDENT TO PERSON OR PROPERTY, FOR LOSS OF PROFITS, BUSINESS INTERRUPTION, LOSS OF BUSINESS INFORMATION OR DATA, LOSS OF PRIVACY, FAILURE TO MEET ANY DUTY OR NEGLIGENCE. YOU UNDERSTAND AND AGREE THAT ALL RIGHTS UNDER SECTION 1542 OF THE CIVIL CODE OF CALIFORNIA AND ANY SIMILAR LAW OF ANY STATE OR TERRITORY OF THE UNITED STATES ARE HEREBY EXPRESSLY WAIVED BY YOU. SECTION 1542 READS AS FOLLOWS:
“CERTAIN CLAIMS NOT AFFECTED BY A GENERAL RELEASE. A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”
11. Disputes/Governing Law
YOU AGREE THAT THESE OFFICIAL RULES AND YOUR PARTICIPATION IN THE COMPETITION ARE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, USA. BOTH YOU AND HOST WAIVE THE RIGHT TO A TRIAL BY JURY AND THE RIGHT TO BRING OR RESOLVE ANY DISPUTE AS A CLASS, CONSOLIDATED, REPRESENTATIVE, COLLECTIVE, OR PRIVATE ATTORNEY GENERAL ACTION. NOTWITHSTANDING ANY PROVISION IN THE JAMS (DEFINED BELOW) RULES TO THE CONTRARY, THE ARBITRATOR SHALL NOT HAVE THE AUTHORITY OR ANY JURISDICTION TO HEAR THE ARBITRATION AS A CLASS, CONSOLIDATED, REPRESENTATIVE, COLLECTIVE, OR PRIVATE ATTORNEY GENERAL ACTION OR TO CONSOLIDATE, JOIN, OR OTHERWISE COMBINE THE CLAIMS OF DIFFERENT PERSONS INTO ONE PROCEEDING.
THE PARTIES EACH AGREE TO FINALLY SETTLE ALL DISPUTES ONLY THROUGH ARBITRATION; PROVIDED, HOWEVER, THE HOST SHALL BE ENTITLED TO SEEK INJUNCTIVE OR EQUITABLE RELIEF IN THE STATE AND FEDERAL COURTS IN NEW YORK, NEW YORK AND ANY OTHER COURT WITH JURISDICTION OVER THE PARTIES. IN ARBITRATION, THERE IS NO JUDGE OR JURY AND REVIEW IS LIMITED. THE ARBITRATOR’S DECISION AND AWARD IS FINAL AND BINDING, WITH LIMITED EXCEPTIONS, AND JUDGMENT ON THE AWARD MAY BE ENTERED IN ANY COURT WITH JURISDICTION. THE PARTIES AGREE THAT, EXCEPT AS SET FORTH ABOVE, ANY CLAIM, SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS COMPETITION WILL BE RESOLVED SOLELY BY BINDING ARBITRATION BEFORE A SOLE ARBITRATOR UNDER THE STREAMLINED ARBITRATION RULES PROCEDURES OF JAMS INC. (“JAMS”) OR ANY SUCCESSOR TO JAMS. IN THE EVENT JAMS IS UNWILLING OR UNABLE TO SET A HEARING DATE WITHIN FOURTEEN (14) DAYS OF THE FILING OF A “DEMAND FOR ARBITRATION”, THEN EITHER PARTY CAN ELECT TO HAVE THE ARBITRATION ADMINISTERED BY ANOTHER MUTUALLY AGREEABLE ARBITRATION ADMINISTRATION SERVICE WHO WILL HEAR THE CASE. IF AN IN-PERSON HEARING IS REQUIRED, THEN IT MAY BE HELD IN YOUR HOMETOWN AREA. THE FEDERAL OR STATE LAW THAT APPLIES TO THESE OFFICIAL RULES WILL ALSO APPLY DURING THE ARBITRATION. DISPUTES WILL BE ARBITRATED ONLY ON AN INDIVIDUAL BASIS AND WILL NOT BE CONSOLIDATED WITH ANY OTHER PROCEEDINGS THAT INVOLVE ANY CLAIMS OR CONTROVERSY OF ANOTHER PARTY, INCLUDING ANY CLASS ACTIONS OR CLASS ARBITRATIONS; PROVIDED, HOWEVER, IF FOR ANY REASON ANY COURT OR ARBITRATOR HOLDS THAT THIS RESTRICTION IS UNCONSCIONABLE OR UNENFORCEABLE, THEN THE AGREEMENT TO ARBITRATE DOES NOT APPLY AND THE DISPUTE MUST BE BROUGHT IN A COURT OF COMPETENT JURISDICTION IN NEW YORK, NEW YORK. HOST AGREES TO PAY THE ADMINISTRATIVE AND ARBITRATOR’S FEES IN ORDER TO CONDUCT THE ARBITRATION (BUT SPECIFICALLY EXCLUDING ANY TRAVEL OR OTHER COSTS OF PARTICIPANT TO ATTEND THE ARBITRATION HEARING). EITHER PARTY MAY, NOTWITHSTANDING THIS PROVISION, BRING QUALIFYING CLAIMS IN SMALL CLAIMS COURT. IN NO EVENT WILL YOU SEEK OR BE ENTITLED TO RESCISSION, INJUNCTIVE OR OTHER EQUITABLE RELIEF OR TO ENJOIN OR RESTRAIN THE OPERATION OR EXPLOITATION OF THE COMPETITION.
Further, in any such dispute, any and all awards shall be limited to actual out-of-pocket costs incurred, if any, not to exceed $10 USD, including costs associated with participating in the Competition and attorneys’ fees. By participating, to the fullest extent permitted by applicable law, you hereby waive all rights to claim direct, indirect, punitive, incidental, special and consequential damages and/or any other damages, other than for actual out-of-pocket expenses, and any and all rights to have damages multiplied or otherwise increased.
To the fullest extent permissible under law, you acknowledge and agree that, with respect to any claim by you relating to or arising out of Host’s or the Competition Entities’ actual or alleged exploitation or use of any participant’s, team’s, or school’s name, likeness, or other information submitted or activity performed in connection with the Competition, the damage, if any, caused to you will not be irreparable or otherwise sufficient to entitle you to seek injunctive or other equitable relief or in any way enjoin the production, distribution, exhibition, or other exploitation of any Host property, promotion, or production, and your rights and remedies in any such event are strictly limited to the right to recover damages, if any, in an action at law, HOWEVER, YOU ACKNOWLEDGE THAT NOTHING IN THESE OFFICIAL COMPETITION RULES WILL RESTRAIN A CALIFORNIA RESIDENT’S RIGHT, IF ANY, TO SEEK PUBLIC INJUNCTIVE RELIEF AS PERMITTED BY LAW.