The iSHARE Scheme is underpinned by legal agreements to which all participants (both Adhering Parties and Certified Parties) need to adhere. This section contains all of the legal aspects present within iSHARE:
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Accession Agreement for Adhering Parties
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The Terms of Use are an appendix to and integral part of the Accession Agreement. The Terms of Use further define the rights and obligations of the various roles within the iSHARE Scheme. The Terms of Use provide a uniform set of rules for both the participants and the Scheme Owner, thereby fostering a level playing field between all parties involved.
The Terms of Use are drafted in such a way that data can be exchanged by participants even if they have no other contractual arrangement in place. In that case, the default requirements as set forth in the Terms of Use govern their legal relationship. This includes the (license) conditions that apply to the exchange of data. But the Terms of Use leave room for participants to derogate from or further detail the provisions of the Terms of Use on a bilateral basis. However, there will be certain requirements that participants should comply with at any time, and from which they will not be able to deviate. These are the requirements that deal with the proper functioning of the iSHARE Scheme, such as each party's responsibility to safeguard the security of its IT-systems (articles 3.5 and 4.1).
Furthermore, the Terms of Use include a number of annexes, amongst which the pre-defined conditions of exchange, the Legal Framework and the iSHARE Scheme standards and specifications.
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