Read Contracts BEFORE installing - you may save $495
I can say nothing for, or against, Vantage Point’s software itself, however I can relate my experience with the firm.
I purchased their software on a trial basis, being told by the salesperson that there was a 15 day refund period. Before downloading their software, I looked in their (very lengthy) software contract and saw the refund was less a $495 “processing fee” which had never been mentioned. I immediately told them I would not agree with their license, and canceled the purchase. They had already shipped a disk and manual to me, which I refused delivery on a few days later.
They then emailed a “License Nullification and Release Agreement” which I was to sign in order to process the refund. The agreement said, among other things, that I agreed to be liable for any damage done to them by statements I may make about any dealings with them including “the posting of comments or threads on any website or trading forum on the Internet.” They also wanted to charge me for shipping. I refused to sign the agreement and told them I would use arbitration via my credit card if necessary. They responded that they would issue a credit in full which I received a few days later.
Had I installed the software, it would have cost me the $495 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
In more detail:
I was contacted by one of their salespersons and thought software which would apply a neural technology was intriguing. Their used-car sales marketing approach seemed dubious at best, and I inquired into their return policy. I was told there was a 15 day refund period. I thought this was a short period but was still somewhat intrigued by neural networking and agreed to purchase the software after my salesperson said that there would be a statement about the refund in the confirmation email. What I received was the following:
… I just wanted to let you know that the 15 day money back guarantee is in your license agreement with your downloadable links which were sent out to you!
I followed the links and checked the license agreement before even attempting to download the software. The contract was VERY lengthy and several pages into it I found the following:
20. Refund. Licensed Package may be returned at Licensee’s expense for a partial refund (excluding a $495.00 refund processing fee) provided ... [conditions] ... the original CD-ROM containing VantagePoint must be returned to Market Technologies (as specified herein) and postmarked by Licensee within fifteen (15) calendar days from the Date of Initial Receipt by Licensee (“Return Period”). It is strongly encouraged that Licensee use a traceable, overnight carrier to ensure compliance with the provisions of this section, as there will be no exceptions should this time frame not be met…
Nothing had been mentioned about the $495 “processing fee.” In addition the agreement makes the 15 days absolute since “there will be no exceptions should this time frame not be met.” However, the email which came with the download links made it sound like there was 21 days:
Once you complete the initial activation, you will have access to the full product for a registration period of 21 days. This period gives you the opportunity to consider a variety of areas before deciding which ones you would like to register.
I immediately cancelled the order, however there was a physical disk and manual which had already shipped. I told them I would simply refuse the package, they told me my card would be credited after the package was refused.
A couple days later I received their “License Nullification” agreement, which in addition to removing and returning all copies of the software had the following clauses:
4. Confidentiality. The Releasing Party represents and warrants to the Company that it will keep (and will cause its affiliates to keep) the transactions contemplated in this Agreement and all negotiations, communications and dealings relating to the License, the Software and to this Agreement completely confidential and will not disclose any of the information … in any public forum or communications medium, including, but not limited to, the posting of comments or threads on any website or trading forum on the Internet.
6. Remedies; Attorneys’ Fees. The Releasing Party acknowledges and stipulates that the Releasing Party’s or any of its affiliates’ breach of the restrictive covenants in Section 4 of this Agreement will result in irreparable injury to the Company for which monetary damages alone would not be an adequate remedy. Therefore, the parties agree that in the event of a breach or threatened breach of confidentiality, the Company shall be entitled to specific performance and injunctive or other equitable relief as a remedy for any such breach or anticipated breach … Furthermore, … the Company shall be entitled, in addition to any other available remedy, a return of the Refund and recovery of all damages suffered by the Company or any of its affiliates, to the extent ascertainable…
I replied in an email that there was no need for a “nullification agreement” since there was no License Agreement in effect and the software had never been in my possession. I told them I wanted a credit for the full amount, which they then agreed to do.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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