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SWIFT Translation Rules Intellectual Property Rights (IPR) Policy

Table of contents

1. Definitions

‘SWIFT’ means Society for Worldwide Interbank Financial Telecommunication SC.

‘SWIFT Translation Rules’ means all the necessary information to translate a particular MT or MX source message to its equivalent MX or MT message as developed by SWIFT. The SWIFT Translation Rules provide field-by-field translation rules including pre-conditional rules that aim to check the translatability of a message.

‘IP Rights’ means all copyright, proprietary know-how, patent rights (including patent applications), trade secret or any other intellectual or industrial property rights.

2. License

SWIFT hereby grants you a worldwide, non-exclusive, non-transferrable, non-sub-licensable, limited license to use SWIFT Translation Rules for (i) the development of software-based services to support the transmission of information in accordance with the SWIFT Translation Rules and (ii) the marketing of support transmission services of SWIFT messaging services for your direct clients. When you license your support transmission services of SWIFT messaging services for your direct clients, it includes for your clients the right to benefit of the SWIFT Translation Rules as a component of your service.

3. Limitations

In avoidance of any doubt, you may not, directly or indirectly, sell, provide or communicate, whatsoever the manner, the SWIFT Translation Rules. You may not (attempt to) decompile or modify SWIFT Translation Rules while maintaining SWIFT Translation Rules as a reference for the modified standard. This License Agreement does not grant you a license to use any of SWIFT’s trademarks, except the trademark ‘SWIFT Translation Rules’ for the use as defined in Section 2.

4. Ownership of SWIFT Translation Rules

All IP Rights, worldwide ownership of and rights, title and interest in and to SWIFT Translation Rules, and all copies and portions thereof, are and shall remain exclusively in SWIFT and its licensors.

5. Termination

This license will terminate immediately without notice if you fail to comply with any material provision of this License Agreement or the non-payment of the associated fees.

6. Disclosure of IP Rights

During the thirty (30) days period immediately following the date that SWIFT Translation Rules are provided to you, you may disclose that the publication of, use of or compliance with SWIFT Translation Rules as presented, in whole or in part, would infringe any of your IP Rights. Upon timely disclosure and considering the nature of SWIFT Translation Rules, you agree to license any such IP Right to SWIFT (including the right to grant sub-licenses) on royalty-free or otherwise reasonable and non-discriminatory terms and solely for the purpose of developing, implementing, promoting and using SWIFT Translation Rules.

7. Non-Enforcement of IP Rights

Any non-disclosure of your IP Rights pursuant to Section 6 of this License Agreement, shall be considered as a final and irrevocable waiver to assert or enforce any such IP Right that you may own or control, against SWIFT or any other third party that may use SWIFT Translation Rules, if the allegedly infringing activity is caused solely by the use of SWIFT Translation Rules in accordance with this License Agreement.

8. Disclaimer

SWIFT Translation Rules are provided as is. SWIFT makes no express or implied representations, including but not limited to, warranties of merchantability or fitness for any particular purpose nor any warranty that the use of SWIFT Translation Rules will not infringe any third party IP Rights.

9. Limitation of liability

To the extent permitted by applicable law, in no event shall SWIFT be liable for any direct, indirect, special or consequential damages arising out of any use of SWIFT Translation Rules even if SWIFT is expressly advised of the possibility of such damages.

10. Choice of Law - Arbitration

This License Agreement shall be governed by Belgian law.
Any dispute concerning this License Agreement, which cannot be amicably resolved, shall be finally settled under the Rules of Conciliation and Arbitration of the International Chamber of Commerce (ICC) by three arbitrators appointed in accordance with these rules. The arbitration proceedings shall take place in Brussels, Belgium, and shall be conducted in the English language.

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