Dynamo Software’s Notice of Certification Under the EU-U.S. Privacy Shield Framework
Effective as of October 5, 2016
Scope: Dynamo Software, Inc. adheres to the principles of the EU-U.S. Privacy Shield framework with respect to personal data submitted by Dynamo Software’s customers in reliance on the Privacy Shield to the following online services: Dynamo, Dynamo Investor/ Client Portal, DynamoAnalytics, DynamoExchange and the mobile application DynaMobile.
Data processed: Dynamo Software provides online tools that our customers use to operate aspects of their businesses. These include tools for investor/client relationship management, fundraising and marketing, event management, investment research management, deal management, portfolio management, data integration and analysis, fund manager due diligence and performance tracking, partnership accounting, reporting and compliance, among others. While Dynamo Software is the provider of these tools and assists clients to process data related to their investors, investments, and users of our software solutions (which may or may include limited personal data, such as name and contact details), our clients remain owners of the data they store with us and are solely responsible for managing it. This includes deciding what data will be stored, how it will be used, how it will be categorized, to whom it will be disclosed and for what purposes.
Purposes of data processing: Dynamo Software processes data submitted by customers for the purpose of providing our online services in accordance with the contracts we have with such customers. Dynamo Software does that by accessing the provided data to perform specific technical tasks (within the scope of our services and as requested by customers), to correct and address technical or service problems, or to follow other instructions of a customer who submitted the data, or in response to contractual requirements.
Our alternative dispute resolution provider JAMS is available to assist in resolving disputes under the Privacy Shield program, up to the point of any final arbitration invoked in accordance with the procedures and conditions set forth in the EU-U.S. Privacy Shield Framework. You can find more information about opening an EU-U.S. Privacy Shield case with JAMS here.
Should you file any arbitration claims, or any administrative or legal actions without first having attempted to resolve the matter by mediation, then you agree that to the maximum extent permitted by applicable law, you will not be entitled to recover attorneys’ fees, even if you would otherwise be entitled to them.
If, after attempting to resolve your complaint or dispute via mediation you still believe that your concerns have not been addressed and you need to continue the dispute, you can invoke binding arbitration as a last resort (if permitted with respect to your complaint), by providing notice to us in the manner indicated in the Annex, and following the procedures set forth in Annex I to the Privacy Shield Principles. The location of the arbitration will be the United States, and, although in-person participation will not be required, you may choose to do so or to participate remotely – you will be provided with an opportunity for video or telephone participation at no cost. However, you agree that to the maximum extent permitted by applicable law, you will not be entitled to recover attorneys’ or arbitration fees, even if you would otherwise be entitled to them.
Third parties who may receive personal data: Dynamo Software uses affiliated companies from the same economic group, based in the European Union, to assist us in providing our services to customers. Authorized representatives of our affiliates may access or process personal data in the course of assisting us to provide our service to clients. In addition we use third-party service providers only to provide data storage services. Dynamo Software maintains contracts with all third parties which assist us in providing our services, restricting their access, use and disclosure of personal data in compliance with our Privacy Shield obligations, and Dynamo Software may be liable if they fail to meet those obligations and we are responsible for the event giving rise to the damage.
Your rights to access, to limit use, and to limit disclosure: EU individuals have rights to access personal data about them, and to limit use and disclosure of their personal data. With our Privacy Shield certification, Dynamo Software has committed to respect those rights. Because Dynamo Software personnel have limited ability to access data our customers submit to our services, if you wish to request access, to limit use, or to limit disclosure, please provide the name of the Dynamo Software customer who submitted your data to our services. We will refer your request to that customer, and will support them as needed in responding to your request.
U.S. Federal Trade Commission enforcement: Dynamo Software’s commitments under the Privacy Shield are subject to the investigatory and enforcement powers of the United States Federal Trade Commission.
Compelled disclosure: Dynamo Software may be required to disclose personal information in response to lawful requests by public authorities, including to meet national security or law enforcement requirements.