Private pilot.
Clear terms.
BookRunner is currently operating in a private pilot with select investment banks. Access is by invitation only. Full contractual terms are governed by the agreement signed between BookRunner and each participating institution.
Private pilot. These terms apply to personnel at institutions participating in the BookRunner private pilot. BookRunner is not open to the public. Institutional engagement is governed by a separate signed agreement which takes precedence over these general terms in all respects.
Scope of service
BookRunner provides an AI-powered investor relations platform for ECM and DCM teams at investment banks. The platform enables AI agents to conduct investor conversations via WhatsApp and Telegram, with banker supervision and a real-time command centre dashboard.
Access to the platform is granted exclusively to named institutions and their authorised personnel under a signed engagement agreement. Unauthorised access is prohibited.
Permitted use
The platform may be used solely for lawful investor relations activity in connection with securities issuances where the using institution is acting as arranger or bookrunner. Users are responsible for ensuring that all use of the platform complies with applicable securities laws and regulations in each jurisdiction where conversations are conducted.
The platform may not be used to contact investors in jurisdictions where the relevant institution does not hold the required regulatory authorisation, or in connection with issuances that have not been properly authorised by the institution's compliance function.
Institutional responsibility
The institution is responsible for the content of all investor communications sent via the platform, including AI-generated responses. BookRunner provides the conversational infrastructure; the institution is the regulated entity conducting the investor relations activity.
The institution is responsible for configuring the platform in accordance with its own compliance policies, for authorising go-live on each issuance, and for supervising banker interventions. BookRunner provides the audit log and compliance scanning tools; the institution is responsible for acting on the information they surface.
Intellectual property
BookRunner and its underlying technology are the intellectual property of Infinitude Technologies. No licence to reproduce, modify, reverse-engineer, or commercialise the platform is granted except as explicitly set out in the signed institutional agreement.
Deal materials, investor data, and conversation content uploaded to or generated on the platform by an institution remain the property of that institution. BookRunner claims no ownership over institutional content.
Liability & disclaimers
BookRunner provides infrastructure and tooling. It does not provide regulated financial advice, legal advice, or compliance advice. Nothing generated by the platform constitutes a recommendation to buy or sell any security.
To the extent permitted by applicable law, BookRunner's liability is limited to direct damages arising from the platform's failure to operate in accordance with its documented specifications, and is capped at the fees paid by the institution in the three months preceding the relevant claim.
Governing law
These terms are governed by the laws of the State of Israel. Disputes arising under these terms are subject to the exclusive jurisdiction of the courts of Tel Aviv-Jaffa, unless the signed institutional agreement specifies otherwise.
For institutions in other jurisdictions, jurisdiction and governing law may be agreed separately in the signed engagement agreement.
For legal or contractual enquiries:
legal@bookrunner.app