Legal
Terms of Sale
Last updated: July 2026
1. Who we are
These terms govern purchases from Carmelo Research LTDA, CNPJ 64.928.555/0001-80, Rua Rio Grande do Norte 1473, CEP 30130-138, Belo Horizonte, MG, Brazil ("Carmelo Research", "we"). Contact: research@carmeloresearch.com.br.
2. What we sell
Carmelo Research sells standardized digital publications (market-intelligence reports in PDF format) from its public catalog, at the public list prices shown on this site, in US dollars. Each edition is an identical, finished publication for all buyers. We do not sell services: no commissioned research, no customization, no consulting is offered or included in any purchase.
3. Ordering and payment
Orders are placed in writing by e-mail to research@carmeloresearch.com.br, at the public list prices shown on this site; any organization may order at list price. On receipt of an order we confirm availability and issue an invoice in USD with international wire instructions; payment is due by wire transfer within the term stated on the invoice (30 days unless stated otherwise). Prices are exclusive of any taxes, duties or bank/currency fees your jurisdiction or bank may apply. A billing address is collected with every order as part of the record of sale. The contract is formed when we confirm the order and issue the invoice.
4. Delivery
Delivery is digital, after payment confirmation: within 1 business day of the wire being received we send a secure download link (or, on request, the PDF as an e-mail attachment) to the buyer's e-mail address. Download links expire after 7 days and are reissued on request at no cost. See the Refund & Delivery Policy.
5. License
Each purchase grants the purchasing organization a company-internal license: a perpetual, non-exclusive, non-transferable right for the purchasing legal entity and its employees and officers to store, read and use the purchased edition internally. The publication may not be resold, sublicensed, redistributed, published or posted publicly, shared outside the purchasing organization, or used to create a competing publication or dataset. Brief attributed quotation is permitted as described in Licensing & FAQ. All intellectual property in the publications remains with Carmelo Research.
6. Refunds
The Refund & Delivery Policy forms part of these terms. In summary: digital publications delivered instantly are not refundable after download; undownloaded orders may be refunded within 14 days; defective files are replaced.
7. No professional advice; no warranty of outcomes
Our publications are reference works for general information. They do not constitute investment, legal, tax, accounting or other professional advice, and market figures in them are aggregate references, not guarantees of any result. You are responsible for decisions made using them. Except as required by law, publications are provided "as is"; we warrant only that the delivered file matches the published edition described in the catalog.
8. Liability
To the maximum extent permitted by applicable law, Carmelo Research's total liability arising from any order is limited to the amount paid for that order, and we are not liable for indirect or consequential losses. Nothing in these terms excludes liability that cannot be excluded under applicable law.
9. Governing law
These terms are governed by the laws of Brazil. Disputes are subject to the courts of Belo Horizonte, Minas Gerais, Brazil, without prejudice to mandatory consumer protections that may apply in the buyer's jurisdiction.
10. Changes
We may update these terms from time to time; the version published on this page at the time of your order applies to that order.