Investment in securities issued by Secondary Market Services Corp. – Hawaii (“SMS Hawaii”) entails certain risks described in the applicable offering documents. Prospective investors should consult their own financial and legal advisers about risks associated with investment in a particular issue of securities and the suitability of investing in the securities in light of their particular circumstances. 

Nothing contained in this Web site constitutes an offer to sell securities or the solicitation of an offer to buy securities. Securities described or referenced on this Web site may be offered and sold only where lawful and via a printed (not downloaded) Official Statement prospectus as permitted by applicable securities law. The securities are described in Official Statements that contain information about the terms and conditions of the bonds, the financial characteristics of the underlying student loan assets and other issuance details. Neither SMS Hawaii nor its affiliates intend to provide investment advice through this Web site and do not represent that the securities discussed are suitable for any user of this Web site.  The securities described in the Official Statements are traded on the secondary market. For further information concerning secondary market trading, consult with an investment adviser or broker. Users of this Web site are advised not to rely on any information contained in the site in the process of making any investment decision. SMS Hawaii does not, and this Web site does not intend to, render any tax or legal advice.

The information on this Web site is for information purposes only. SMS Hawaii cannot guarantee the accuracy, timeliness or completeness of all such information. SMS Hawaii undertakes no obligation to update any information included in this Web site. The information herein and the terms and conditions of the access to, and use of, such information are subject to change without notice and SMS Hawaii reserves the right to terminate any portion or all information on this Web site. The posting of information on this Web site does not imply that there has been no change in the affairs of SMS Hawaii following the date of posting such information.

The downloadable documents on this Web site, including Official Statements and other data, were converted to electronic format from the original version of each such document, and SMS Hawaii has not tested or verified the accuracy or completeness of any of the above. SMS Hawaii does not accept responsibility for errors or omissions in any documents which are provided on this Web site. In no event shall SMS Hawaii be liable for any lost profits, lost opportunity, consequential, indirect, incidental, punitive, exemplary or special damages of any kind arising out of any use of or inability to use the Web site or any portion thereof or information therein, regardless of whether SMS Hawaii has been informed of the likelihood of such damages occurring and regardless of the form of action, whether in contract, warranty, tort (including negligence), strict liability, or otherwise. In no event will SMS Hawaii be liable for any damages of any kind on any theory of liability arising out of or in connection with the use of any Official Statement or other data provided on this Web site. SMS Hawaii cannot assure that any user of this Web site will receive information in the form contained on this Web site. If verification is required, please request a hard-copy version.

As used in this Investor Relations Terms of Use, the term "Web site" shall mean and refer to all computer files and portions thereof, including without limitation all executable files, text files, HTML files, CGI scripts, images and graphics, and any other computer files which may be viewed, linked together or downloaded as a single interactive unit, and accessed by the public using the domain name "www.smshawaii.org" or some derivative or level thereof.