These Public Code Terms of Service (“Public Code Terms”) are effective as of: 17 March 2026 (“Effective Date”)
Important
These Public Code Terms govern your access to, download of, installation of, use of, copying of, modification of and distribution of any sample code, software development kits, libraries, scripts, templates, reference implementations, command-line tools, bots, agents, integrations, plug-ins, packages, skills, agent tooling, connectors, machine-readable specifications, manifests or related technical materials that VALR makes available for public use, whether through a code repository, package manager, website, developer portal, GitHub organisation or otherwise (collectively, the “Public Code”).
Please read these terms carefully before accessing or using any Public Code. By accessing, downloading, installing, copying, using, modifying or distributing any Public Code, you acknowledge that you have read, understood, accepted and agreed to be bound by these terms. If you do not accept these terms, you may not access or use any Public Code.
These terms are supplemental to, form part of, and must be read together with VALR’s Terms of Service, Privacy Policy, API documentation and any other applicable terms, policies, standards or notices published by VALR from time to time (collectively, the “Platform Terms”). If there is any conflict between these Public Code Terms and the Platform Terms, the Platform Terms shall prevail to the extent of that conflict, except to the extent these Public Code Terms specifically with regulate the licensing, distribution and use of the Public Code.
Unless VALR expressly states otherwise for a specific repository or project, these terms apply to all Public Code made available by VALR.
1. INTRODUCTION
1.1. The Public Code is made available by VALR (Pty) Ltd t/a VALR (registration number 2018/211274/07) (hereinafter referred to as “VALR”, “we”, “our” or “us”).
1.2. Any reference to VALR, we, our or us shall include our employees, officers, directors, representatives, agents, shareholders, affiliates, subsidiaries, holding companies, related entities, advisers, contractors, sub-contractors, service providers, licensors and suppliers, where the context permits.
1.3. The Public Code may be made available through a code repository, package manager, website, developer portal or otherwise.
1.4. Accessing and/or using any Public Code after the Effective Date will signify that the User has read, understands, accepts and agrees to be bound by these terms.
1.5. VALR may, at its sole discretion, change, modify or update any of these terms at any time. The User’s continued access to or use of any Public Code after any amendment to these terms will constitute the User’s acceptance of these terms, as modified.
2. DEFINITIONS
2.1 In these terms, unless inconsistent with the context:
2.1.1 “API” shall mean any application programming interface, webhook, endpoint, stream, protocol, authentication mechanism, software interface, developer service or related functionality made available by VALR from time to time.
2.1.2 “Documentation” shall mean any developer guides, API documentation, readme files, technical specifications, examples, comments, tutorials, notices or explanatory material made available by VALR in connection with Public Code or an API.
2.1.3 “Intellectual Property Rights” shall mean all copyright, database rights, trade marks, trade names, domain names, patents, designs, know-how, trade secrets, confidential information, software rights and all other intellectual property or similar proprietary rights, whether registered or unregistered, anywhere in the world.
2.1.4 “Open Source Terms” shall mean the open-source licence terms, if any, that VALR designates as applying to specific Public Code.
2.1.5 “Platform Terms” has the meaning assigned in the ‘Important’ section above.
2.1.6 “Public Code” shall mean any sample code, SDK, library, package, script, bot, agent, integration, plug-in, template, connector, reference implementation, documentation example, command-line tool, skill, skill manifest, agent integration material or other code or technical artifact made available by VALR for public use.
2.1.7 “User”, “you” or “your” shall mean the person or entity accessing, downloading, copying, installing, using, modifying or distributing any Public Code.
2.1.8 “VALR Marks” shall mean VALR’s trade marks, logos, brand names, trade dress, product names and other brand features.
2.2 The rules of interpretation applicable to the Platform Terms apply equally to these terms.
3. RELATIONSHIP BETWEEN VALR AND THE USER
3.1. VALR does not purport to be the User’s adviser, consultant, partner, custodian agent, intermediary, broker, managed service provider or fiduciary by making any Public Code available.
3.2. No Public Code, Documentation or communication provided by VALR to a User is intended as, or shall be considered or construed as, financial, trading, investment, legal, tax, accounting, cybersecurity or other professional advice.
3.3. You must obtain your own independent professional advice where appropriate.
3.4. The User shall be solely responsible for all decisions made in connection with its access to and use of the Public Code.
4. ELIGIBILITY, AVAILABILITY AND ACCESS RESTRICTIONS
4.1. The Public Code may not be available in all jurisdictions and is not directed at any person or entity in any jurisdiction where the publication of the Public Code or the use thereof would be contrary to any applicable law, regulation or rule.
4.2. You may not access or use the Public Code if you are prohibited from receiving or using VALR services under any applicable law or under the Platform Terms.
4.3. It is your responsibility to determine whether your access to and use of the Public Code is lawful in your jurisdiction and appropriate for your intended purpose.
4.4. VALR may, at its sole and absolute discretion and without prior notice, restrict, suspend, withdraw, modify or discontinue the availability of any Public Code in any jurisdiction or to any person.
5. NATURE, PURPOSE AND LIMITATIONS OF THE PUBLIC CODE
5.1. The Public Code is provided to assist Users with development, testing and integration in relation to VALR products, services and APIs.
5.2. The Public Code is illustrative only and may be incomplete, simplified or unsuitable for production use.
5.3. Public Code may contain simplified logic, assumed defaults, omitted safeguards, example credentials handling, sample workflows, placeholder code, mock data, test-only logic, incomplete feature coverage or references to third-party dependencies.
5.4. The fact that VALR makes Public Code available does not mean that VALR:
5.4.1. endorses any particular architecture, workflow, dependency, framework, cloud environment, model, package manager, deployment pattern, security posture or operating model;
5.4.2. warrants that the Public Code is safe, secure, compatible, lawful, merchantable, fit for purpose or non-infringing; or
5.4.3. undertakes to maintain, update, patch, support, monitor or continue making available that Public Code.
5.5. The Public Code is supplementary tools only and does not replace your own engineering judgment, code review, security review, legal review, compliance review, testing, quality assurance, observability, monitoring, incident response planning or business continuity planning.
5.6. The Public Code is not official commitments as to VALR’s current or future product scope, API behaviour, feature availability, uptime, latency, pricing, rate limits, trading functionality, jurisdictional availability, operational sequencing, execution logic or roadmap.
5.7. VALR does not guarantee that any Public Code will remain available, supported, updated or compatible with any current or future version of any product, service, API, dependency, package, operating system or environment.
6. LICENCE GRANT
6.1. Subject to your compliance with these terms, the Platform Terms and any applicable Open Source Terms, VALR grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable licence to access, download, install, use and modify the Public Code for lawful internal business purposes and for lawful development and integration purposes.
6.2. To the extent VALR designates specific Open Source Terms for particular Public Code, that Public Code shall also be licensed to you under those Open Source Terms. Where required by the relevant Open Source Terms, the rights granted under those Open Source Terms shall apply to the relevant Public Code.
6.3. Except as expressly stated in these terms or in applicable Open Source Terms, no right, title or interest in or to any Public Code or any Intellectual Property Rights therein is transferred to you.
6.4. Your licence to use the Public Code is conditional on your continued compliance with these terms and may be suspended or terminated by VALR at any time in accordance with clause 17 below or VALR’s Terms of Service.
7. OPEN-SOURCE AND THIRD-PARTY COMPONENTS
7.1. Public Code may include, reference, call, depend on or interoperate with third-party software, libraries, models, APIs, services, packages, repositories or open-source components.
7.2. Your use of any third-party component is entirely at your own risk and may be subject to separate third-party terms, licence conditions, privacy terms, usage restrictions, fees, model policies or compliance obligations.
7.3. VALR does not make any representation or warranty in relation to any third-party component and shall not be liable for any act, omission, failure, downtime, inaccuracy, security issue, licence breach, deprecation or incompatibility relating to any third-party component.
7.4. It is your responsibility to review, understand and comply with all third-party terms and licences, including any attribution, disclosure, source code availability or copyleft obligations that may arise.
7.5. VALR does not warrant that any Public Code is free from third-party intellectual property claims or that any output, dependency or implementation will be free from licensing risk, attribution obligations or infringement claims.
8. USER RESPONSIBILITIES
8.1. You are solely responsible for:
8.1.1. reviewing, understanding and testing any Public Code before using it;
8.1.2. ensuring the suitability of any Public Code for your environment and intended use;
8.1.3. verifying all transaction logic, order logic, pricing logic, error handling, retry behaviour, permissioning, alerting, logging, monitoring, access controls and reconciliation logic;
8.1.4. implementing appropriate security measures, including credential storage, key management, secret rotation, environment segregation, permission scoping and abuse prevention;
8.1.5. validating all inputs, outputs, data transformations and system actions before relying on them or using them operationally;
8.1.6. maintaining human oversight over any automation, bot, workflow, script or AI agent that uses Public Code;
8.1.7. ensuring compliance with all applicable laws, sanctions, export controls, anti-money laundering laws, data protection laws, consumer laws, financial services laws, tax laws and all other applicable regulations; and
8.1.8. ensuring compliance with the Platform Terms and any product-specific requirements.
8.2. You acknowledge and agree that any transaction, instruction, API call, order placement, cancellation, amendment, transfer, withdrawal, deposit, query, automation or action initiated through your systems remains your sole responsibility, whether initiated directly by you, by your personnel, by your customers, by a bot, by a model, by an AI agent or by any other automated process under your control or using your credentials.
9. PROHIBITED USES
9.1. You must not, and must not permit any other person to:
9.1.1. use any Public Code in breach of any applicable law, regulation, sanction, court order or regulatory requirement;
9.1.2. use any Public Code in breach of the Platform Terms;
9.1.3. use any Public Code for any unlawful, fraudulent, deceptive, abusive, harmful or unethical purpose;
9.1.4. use any Public Code in a manner that could impair, disable, overburden, damage, compromise or interfere with VALR systems or any third-party systems;
9.1.5. introduce malicious code, malware, ransomware, trojans, worms, spyware, logic bombs or other harmful material;
9.1.6. attempt to gain unauthorised access to any system, account, network, environment, secret, credential, database, model, endpoint or service;
9.1.7. circumvent or attempt to circumvent any authentication measure, permission control, safety mechanism, rate limit or security control;
9.1.8. use any Public Code to scrape, mirror or harvest data in breach of applicable law or the Platform Terms;
9.1.9. misrepresent any Public Code as an official VALR production system, certified implementation, managed service or endorsed workflow;
9.1.10. remove, obscure or alter any copyright notice, licence notice, attribution notice, disclaimer or proprietary marking contained in any Public Code, except to the extent expressly permitted by applicable Open Source Terms;
9.1.11. use VALR Marks except as expressly permitted in writing by VALR;
9.1.12. use any Public Code to provide regulated services without all licences, approvals and permissions required by applicable law; or
9.1.13. use any Public Code in any way that may harm VALR’s reputation, systems, customers, markets or legal position.
10. FEES, SUPPORT, MAINTENANCE AND UPDATES
10.1. Unless expressly stated otherwise by VALR in writing, the Public Code is made available free of charge.
10.2. VALR is under no obligation to provide support, maintenance, updates, bug fixes, patches, upgrades, documentation updates, migration assistance or compatibility commitments in respect of any Public Code.
10.3. VALR may, at any time and without notice, modify, suspend, withdraw, replace, archive, deprecate or discontinue any Public Code, or any feature or component thereof.
10.4. VALR shall not be liable for any losses, disruptions, migration costs, engineering costs, remediation costs or business interruption arising from any modification, deprecation, withdrawal or discontinuation of any Public Code.
10.5. Nothing in these terms shall be interpreted as creating any service level commitment, uptime guarantee or support obligation in respect of the Public Code.
11. DATA, PRIVACY AND SECURITY
11.1. Your use of the Public Code may involve the transmission, processing, storage or display of personal information, confidential information, trading data, wallet data, account data, credentials, API keys, secrets or other sensitive information.
11.2. You are solely responsible for ensuring that your use of the Public Code complies with all applicable data protection, privacy, cybersecurity and confidentiality laws and obligations.
11.3. You must not include live credentials, private keys, seed phrases, secret tokens, production secrets or unnecessary personal information in any Public Code fork, public repository, support ticket, prompt, issue tracker, agent memory, log file, telemetry stream or shared environment.
11.4. Where any Public Code includes telemetry, diagnostics, usage analytics or logging features, you are responsible for reviewing, configuring and controlling those features appropriately before use.
11.5. Any processing of personal information by VALR remains subject to VALR’s Privacy Policy and the Platform Terms, as applicable.
11.6. VALR does not warrant that any Public Code satisfies your internal security standards, customer contractual requirements, information security framework, audit obligations or regulatory obligations.
12. AI AGENTS, AUTOMATION AND AUTONOMOUS WORKFLOWS
12.1. Public Code may be used by or together with bots, models, copilots, automated scripts, orchestration tools or AI agents. Public Code may also include skills, manifests, tool specifications, examples or other materials intended to help an agent understand how to authenticate with, call, interpret or operationally interact with VALR systems. All such use is entirely at your own risk.
12.2. You remain solely responsible for the design, supervision, approval logic, guardrails, memory controls, tool permissions, fallback logic, prompt controls, action thresholds, execution controls and human oversight applicable to any bot or AI agent using Public Code.
12.3. VALR does not represent, warrant or guarantee that any Public Code is suitable for autonomous or semi-autonomous execution.
12.4. Any action taken by an AI agent, bot or automation using your credentials, environment, infrastructure or approvals shall be deemed to have been authorised by you as between you and VALR, unless mandatory law provides otherwise.
12.5. You must independently verify all outputs, decisions, instructions and actions generated by any AI-enabled workflow before relying on them in any production, financial, trading, compliance, customer-facing or safety-critical context.
13. TRANSACTIONAL, OPERATIONAL AND MARKET RISK ACKNOWLEDGEMENTS
13.1. Public Code that interacts with APIs, markets, wallets, balances, account functions, pricing feeds, trading functions or settlement workflows may expose you to material technical, operational and financial risk.
13.2. You acknowledge and agree that:
13.2.1. crypto asset markets are volatile and prices may change rapidly;
13.2.2. APIs, market data, websockets, order books, balances, status updates and transaction confirmations may be delayed, incomplete, interrupted or unavailable;
13.2.3. orders may fail, partially fill, overfill, fill at unexpected prices, remain open, execute late, cancel unexpectedly or behave differently depending on market conditions and platform functionality;
13.2.4. withdrawals, transfers, deposits, conversions, settlements and other transactional flows may be delayed, rejected, reversed, queued, rate-limited, held for review or unavailable;
13.2.5. automated logic may amplify losses, repeat errors at scale, trigger cascading actions, exhaust rate limits, create duplicate transactions or act on stale data; and
13.2.6. you are solely responsible for reviewing and verifying all transaction details, orders, instructions and account actions before and after submission.
13.3. VALR does not guarantee any trading outcome, execution result, profit, loss limitation, risk-management result, strategy performance or commercial result arising from the use of any Public Code.
14. INTELLECTUAL PROPERTY, BRANDING AND ATTRIBUTION
14.1. As between you and VALR, and subject to any applicable Open Source Terms, VALR retains all right, title and interest in and to the Public Code, the Documentation, the APIs, the VALR Marks and all related Intellectual Property Rights.
14.2. Nothing in these terms grants you any right to use any VALR Mark except with the consent of VALR and to the limited extent strictly necessary to identify factual compatibility with a VALR API, and then only in a manner that is fair, accurate, non-confusing and compliant with any brand guidelines published by VALR from time to time.
14.3. You must not state or imply that VALR endorses, certifies, approves, sponsors or guarantees your product, service, integration, bot, agent, package or implementation unless VALR has expressly agreed to this in writing.
14.4. If any Public Code is made available under Open Source Terms requiring retention of notices or attribution, you must comply fully with those requirements.
15. FEEDBACK
15.1. From time to time you may provide VALR with suggestions, ideas, enhancement requests, recommendations, bug reports, documentation improvements or other feedback relating to the Public Code (“Feedback”).
15.2. You grant VALR a worldwide, perpetual, irrevocable, royalty-free, fully paid-up, transferable and sublicensable licence to use, reproduce, modify, publish, distribute, incorporate and otherwise exploit any Feedback for any purpose without restriction or obligation to you.
15.3. You represent and warrant that you have the right to grant the licence set out in this clause.
16. DISCLAIMER OF WARRANTIES AND RISK DISCLOSURES
16.1. The Public Code is provided “as is” and “as available”, without any representation or warranty, express or implied, including, but not limited to, any warranty of merchantability, fitness for a particular purpose, title, non-infringement, compatibility, security, quality, performance, availability, accuracy, completeness, uninterrupted operation or freedom from defects, vulnerabilities, malware or errors.
16.2. Without limiting the generality of clause 16.1, VALR does not represent or warrant that:
16.2.1. any Public Code is correct, complete, reliable, current, production-ready, secure or suitable for your environment;
16.2.2. any Public Code will operate without interruption, delay, defect or incompatibility;
16.2.3. any Public Code will remain available or supported;
16.2.4. any Public Code will be compatible with future or current API versions, third-party packages, models, runtimes, frameworks or infrastructures;
16.2.5. any bug, defect, vulnerability or issue will be identified, corrected or remediated; or
16.2.6. any use of any Public Code will comply with your legal, regulatory, contractual, audit, policy or security requirements.
16.3. Any examples, comments, sample outputs, transaction flows, AI-enabled workflows, architectural patterns or implementation suggestions made available through any Public Code are provided for general informational purposes only.
16.4. Any reliance you place on any Public Code is strictly at your own risk.
16.5 In addition to the risk disclosures, assumption of risks & the release of VALR from liability contained in these Public Code Terms and VALR’s Risk Disclosures found here, the User hereby agrees that utilising the Public Code is inherently risky and acknowledges, understands and accepts the risks set out herein. Risks include, but are not limited to, the following:
Accuracy Risk: Any Public Code or Documentation may contain errors, omissions, outdated assumptions, incomplete coverage or simplified logic.
Security Risk: Any Public Code may contain vulnerabilities, insecure defaults, inadequate credential handling, insufficient validation, injection risks, dependency risks or logging risks.
Compatibility Risk: Any Public Code may fail due to API changes, package changes, dependency deprecations, version conflicts, operating system differences, runtime changes or model-provider changes.
Automation Risk: Automated or AI-driven use may repeat errors at scale, make rapid decisions on incomplete data, trigger unintended actions or operate beyond intended parameters.
Transaction Risk: Order placement, cancellation, execution, transfers and withdrawals may behave unexpectedly due to market conditions, platform conditions, latency, stale state, race conditions or partial failures.
Market Risk: Crypto asset markets are highly volatile. No code implementation can eliminate price risk, slippage, liquidity constraints or adverse market movement.
Data Risk: Data obtained through APIs or third parties may be delayed, incomplete, unavailable, duplicated, stale or inaccurate.
Third-Party Risk: Third-party dependencies, models, APIs, connectors, repositories or infrastructure providers may fail, change terms, introduce vulnerabilities or create licensing obligations.
Regulatory Risk: Laws and regulations relating to crypto assets, software, AI, privacy, cybersecurity, financial services and cross-border distribution may change and may affect the legality or suitability of your use.
Operational Risk: Inadequate monitoring, alerting, approvals, segregation of duties, reconciliation, environment controls or incident response may magnify losses or disruption.
AI and Hallucination Risk: Where Public Code is used with AI systems, those systems may generate incorrect code, incorrect assumptions, unsafe actions or fabricated explanations.
Skill Interpretation Risk: Skills, manifests, schema definitions, examples and machine-readable agent instructions may be incomplete, ambiguous, interpreted incorrectly by a consuming agent or implemented differently across agent frameworks.
Authentication and Permission Risk: Any example or helper relating to authentication, API signing, key usage, permission scopes, wallet access or execution authority may be misused, misunderstood or implemented insecurely, potentially resulting in unauthorised actions or loss.
No Outcome Guarantee: Use of any Public Code does not guarantee compatibility, uptime, successful execution, legal compliance, profitability, loss limitation or any other commercial or technical outcome.
Human Oversight Risk: Over-reliance on automation, sample logic or AI-assisted workflows may reduce human scrutiny and increase the likelihood of preventable loss.
16.6. The User accepts all risks arising from its use of the Public Code and shall be responsible for its own testing, controls, review and oversight.
17. LIMITATION OF LIABILITY AND INDEMNITY
17.1. To the fullest extent permitted by applicable law, VALR shall not be liable for any loss or damage arising from or in connection with:
17.1.1. your access to, use of, inability to use, download of, installation of, modification of or distribution of any Public Code;
17.1.2. any defect, bug, vulnerability, outage, delay, deprecation, incompatibility, omission, error or failure in any Public Code;
17.1.3. any use of any bot, script, automation, model or AI agent together with any Public Code;
17.1.4. any transaction, order, transfer, withdrawal, deposit, pricing action, market action, execution or operational decision taken using or in reliance on any Public Code;
17.1.5. any third-party dependency, package, repository, model, API, service or integration;
17.1.6. any loss of profits, loss of revenue, loss of opportunity, loss of data, loss of goodwill, wasted expenditure, business interruption, operational disruption, reputational harm or indirect, incidental, special, exemplary, punitive or consequential loss; or
17.1.7. any security incident, credential leak, secret exposure, compromise, unauthorised action or misuse arising from your environment, your implementation or your operational controls.
17.2. Without limiting clause 17.1, you acknowledge that the Public Code is made available as development aids only and that VALR is not responsible for validating your implementation or supervising your operations.
17.3. To the extent that any liability of VALR cannot be excluded by law, such liability shall be limited to the minimum extent permitted by law.
17.4. You hereby indemnify, defend and hold harmless VALR from and against any and all claims, actions, proceedings, losses, damages, liabilities, penalties, fines, costs and expenses (including legal costs on an attorney-and-own-client scale, where permitted) arising from or relating to:
17.4.1. your use of any Public Code;
17.4.2. your modification, distribution or deployment of any Public Code;
17.4.3. your product, service, integration, bot, agent or implementation that uses any Public Code;
17.4.4. your breach of these terms, the Platform Terms or any applicable law; or
17.4.5. any claim by any third party arising from your use of any Public Code.
18. SUSPENSION AND TERMINATION
18.1. VALR may suspend or terminate your access to any Public Code immediately if VALR reasonably believes that:
18.1.1. you have breached these terms or the Platform Terms;
18.1.2. your use creates security, legal, operational or reputational risk for VALR;
18.1.3. this is necessary to comply with applicable law or any regulator, authority or court; or
18.1.4. continued availability of the Public Code is no longer commercially, operationally or technically desirable.
18.2. Upon suspension or termination, the licence granted to you under these terms shall immediately cease, save to the extent any applicable Open Source Terms require otherwise.
19. GOVERNING LAW AND JURISDICTION
19.1. These terms shall be governed by and construed in accordance with the laws of the Republic of South Africa.
19.2. These terms constitute the entire agreement between you and VALR regarding the Public Code, save for the Platform Terms and any applicable Open Source Terms.
19.3. If any provision of these terms is found to be unlawful, invalid or unenforceable, that provision shall be deemed severable and shall not affect the validity and enforceability of the remaining provisions.
19.4. No failure or delay by VALR to exercise any right, power or remedy shall operate as a waiver thereof.
19.5. You may not assign, transfer, cede, delegate or otherwise dispose of any of your rights or obligations under these terms without VALR’s prior written consent. VALR may assign, transfer, cede, delegate or otherwise dispose of its rights and obligations at any time.
19.6. Nothing in these terms creates any partnership, joint venture, agency, fiduciary, employment or similar relationship between you and VALR.
19.7. These terms shall survive to the extent necessary to give effect to their nature and purpose, including clauses relating to intellectual property, disclaimers, limitation of liability, indemnities, governing law and dispute resolution.
19.8. In the event that these terms are translated into a language other than English, the User acknowledges and agrees that such translation is provided for your convenience only and that in the event of any inconsistency or conflict between the English version of these terms and any translation, the English version shall prevail.