Demeter Research offers Paid Services via monthly, quarterly or annual subscriptions. There are no prorated refunds for partial billing periods, be it monthly, quarterly or annual. Refunds will not be issued for cancellations received after a billing date. For clarity, if you join a monthly service on June 5th you will be billed on the 5th of each subsequent month until you cancel. If you cancel the service on July 6th then your access will continue through August 5th and no further billing will occur. All subscriptions will automatically renew on the monthly, quarterly or annual anniversary of the day that you subscribed. On such renewal date, we will bill the applicable subscription fee and any applicable taxes to the credit card that you provided to us. In the event the credit card for any reason does not allow the amount to be billed, access to the service may be terminated immediately.