Terms of Service

Last updated: October 31, 2026

1. Agreement

These Terms of Service (“Terms”) are an agreement between you and LBO Reps (“LBO Reps”, “we”, “us”, “our”) covering your use of financialmodelingcourse.io and everything on it (the “Service”). By creating an account, making a purchase, or using the Service, you agree to these Terms and to our Privacy Policy. If you don't agree, please don't use the Service.

Section 17 contains an arbitration agreement and class action waiver that affect how disputes are resolved. Please read it.

2. The Service

LBO Reps is an online practice tool for leveraged buyout (LBO) and financial modeling. Students work through lessons and problems in a live spreadsheet, earn points, and can appear on a leaderboard. Core lessons are free. Premium plans unlock additional content, such as full case studies, interview drills, and deal scenarios. We may add, change, or remove content and features over time.

3. Your account

• Eligibility: you must be at least 13 years old to use the Service. If you're under 18, you need a parent or guardian's permission, and they must agree to these Terms and approve any purchase.
• Accurate information: give accurate information when you sign up, and keep your email address current so you receive account emails.
• Security: keep your password safe. You're responsible for activity on your account. Tell us right away at [email protected] if you think someone else has used it.
• One person per account: accounts are personal. Don't share your login or resell access.

4. Your content

You may submit content to the Service, such as your display name, onboarding answers, and spreadsheet work. You keep ownership of it. You give us a non-exclusive, worldwide, royalty-free license to store, display, and use it as needed to run and improve the Service; for example, your display name and score appear on the leaderboard. Your display name must not impersonate anyone, or be offensive, misleading, or infringe anyone's rights. We may remove content or change display names that break these Terms.

5. Acceptable use

You agree not to:

• copy, scrape, download in bulk, sell, or redistribute course content, case studies, models, or answers;
• share Premium content with people who haven't paid for it;
• try to get around the paywall, security, or rate limits, or access accounts or data that aren't yours;
• manipulate the leaderboard, for example with automated tools or multiple accounts;
• interfere with, overload, or disrupt the Service, or upload viruses or malicious code;
• use the Service for anything unlawful, harassing, or harmful to others.

6. Premium plans and payment

Plans

• Monthly and Yearly plans are subscriptions that renew automatically at the end of each billing period, at the price shown when you subscribed, until you cancel.
• Lifetime is a one-time payment that gives you Premium access for as long as LBO Reps offers the Service, including Premium content we add later.

Billing

By buying a plan, you authorize us, through our payment processor, to charge your payment method the price shown at checkout, plus any applicable taxes, and for subscriptions, to charge it again at each renewal. You agree to give accurate payment information. If a renewal payment fails, Premium access may be paused until the payment succeeds.

Price changes

We may change our prices. A price change never affects a billing period you've already paid for. For subscriptions, we'll tell you in advance, and the new price applies from your next renewal. You can cancel before then if you don't want to continue.

Payment processor

All payments are processed by Stripe, under Stripe's own terms and privacy policy. We don't store your card details, and we aren't responsible for outages or errors on Stripe's side.

7. Delivery, cancellation, and refunds

Delivery

Premium content unlocks on your account as soon as your payment is confirmed, usually within a few seconds. If it doesn't, refresh the page or contact us.

Cancellation

You can cancel a Monthly or Yearly subscription at any time through the billing portal, linked from your account page, or by emailing [email protected] at least two days before your renewal date. When you cancel, you keep Premium until the end of the period you've already paid for, and you won't be charged again. Deleting your account does not cancel your subscription, so please cancel first.

Refunds

If you're not happy with Premium, email [email protected] within 30 days of your purchase or renewal and we'll give you a full refund of that payment. This applies to every plan, including Lifetime. Once a payment is refunded, the Premium access it paid for ends. After 30 days, payments are non-refundable, except where the law requires otherwise. We don't refund accounts we've suspended or closed for breaking these Terms.

8. Our content and intellectual property

The Service, including its lessons, case studies, models, problems, text, design, software, and the LBO Reps name and logo, belongs to LBO Reps or its licensors and is protected by copyright and other laws. While your account is active, we give you a personal, non-exclusive, non-transferable license to use the content you have access to for your own learning. You may not copy, modify, publish, or commercially use it without our written permission. All rights not expressly granted are reserved.

9. Educational use only

LBO Reps is practice material for learning financial modeling. Case studies use simplified, hypothetical, or illustrative companies and figures. Nothing on the Service is investment, financial, tax, legal, or career advice, and we don't guarantee any interview, job offer, or recruiting outcome.

10. Third-party services

The Service relies on and links to third-party services, such as Stripe for payments and Google for sign-in. We don't control them and aren't responsible for their content, policies, or availability. Your use of them is governed by their own terms.

11. Disclaimer of warranties

The Service is provided “as is” and “as available”. To the fullest extent the law allows, LBO Reps disclaims all warranties, express or implied, including merchantability, fitness for a particular purpose, accuracy, and non-infringement. We don't promise that the Service will be uninterrupted, error-free, or secure, or that its content is complete or correct.

12. Limitation of liability

To the fullest extent the law allows, LBO Reps will not be liable for any indirect, incidental, special, consequential, or punitive damages, or for lost profits, data, or opportunities, arising from your use of the Service. Our total liability for any claim relating to the Service is limited to the greater of the amount you paid us in the 12 months before the claim, or US $50.

Some places don't allow these exclusions or limits, so they may not fully apply to you.

13. Indemnification

You agree to defend and hold LBO Reps harmless from claims, losses, and costs (including reasonable legal fees) arising from your breach of these Terms or your misuse of the Service.

14. Suspension and termination

You can stop using the Service and delete your account at any time. We may suspend or close your account, without refund, if you seriously or repeatedly break these Terms, or if we must for legal reasons. If we decide to shut the Service down entirely, we'll give you reasonable notice, and refund the unused part of any subscription period you've prepaid. Sections that by their nature should survive termination (including 8, 11, 12, 13, and 17) will survive.

15. Copyright complaints

If you believe content on the Service infringes your copyright, email [email protected] with: your contact details; a description of the work you claim is infringed; where the material appears on the Service; a statement that you believe in good faith the use isn't authorized; and a statement, under penalty of perjury, that your notice is accurate and that you are the owner or authorized to act for the owner, with your physical or electronic signature.

16. Changes to these Terms

We may update these Terms. We'll update the date at the top. If we make a significant change, we'll tell you by email or with a notice on the Service at least 7 days before it takes effect. Continuing to use the Service after that means you accept the updated Terms. If you don't agree, stop using the Service and cancel any subscription.

17. Governing law and dispute resolution

Governing law

These Terms are governed by the laws of the State of California, United States, without regard to its conflict-of-law rules.

Talk to us first

Most issues can be solved quickly. Before starting any formal claim, email [email protected] with your name, contact details, a description of the issue, and what you're asking for. We'll both try in good faith to resolve it within 30 days.

Arbitration

If we can't resolve it, any dispute arising from these Terms or the Service will be resolved by binding individual arbitration, not in court, except that either of us may bring an individual claim in small claims court, and either of us may seek an injunction in court to stop infringement of intellectual property.

The arbitration will be administered by the American Arbitration Association (AAA) under its Consumer Arbitration Rules, before a single arbitrator. It may take place remotely or in the county where you live. Each party bears its own legal fees unless the arbitrator or the law provides otherwise.

No class actions

You and LBO Reps may bring claims against each other only individually, and not as a plaintiff or class member in any class, collective, or representative proceeding.

Opting out

You can opt out of this arbitration agreement by emailing [email protected], from the address on your account, within 30 days of first creating your account, saying that you opt out. If you opt out, or if this arbitration agreement is found unenforceable, disputes will be resolved in the state or federal courts located in California, and you and we consent to their jurisdiction.

18. General

• These Terms and our Privacy Policy are the entire agreement between you and LBO Reps about the Service.
• If any part of these Terms is found unenforceable, the rest stays in effect.
• If we don't enforce a right, we haven't waived it.
• You may not transfer your account or these Terms to anyone else. We may transfer them as part of a sale or reorganization of LBO Reps.
• We aren't responsible for delays or failures caused by events outside our reasonable control.

19. Contact us

Questions about these Terms? Email [email protected].