Terms of Service
VELZI.AI’s terms of service outline our mutual agreement, detailing our commitment as your service provider and your responsibilities as our valued customer.
Effective date: December 22, 2024
Introduction
Welcome to VELZI.AI! We're excited to have you join us. Before you get started, please take a moment to read and agree to these terms. We’ve done our best to make them clear and straightforward, so you know exactly what we expect from you and what you can expect from us. To help you understand these terms, we've included summaries at the beginning of each section. These terms outline your legal rights and responsibilities, so it's important to read them carefully. If you can't agree to these terms, unfortunately, you won't be able to use our services. If you have any questions after reading these terms, feel free to reach out through VELZI.AI Central. These terms were created in December 2024 and will be reviewed annually, or sooner if there are any legal changes. Our goal is to provide greater clarity and transparency while adapting to our evolving business practices, ensuring you have the right subscription access.
1. Joining and Using VELZI.AI
This section explains how to subscribe to VELZI.AI and use our services. Bold words have specific meanings that are consistent throughout these terms.
1.1 Who We Are and Who You Are: In these terms, "you" and "your" refer to you and any organization you represent. "VELZI.AI," "we," "our," and "us" refer to the specific VELZI.AI entity you have an agreement with (see Section 12.13 for details).
1.2 What Our Services Cover: VELZI.AI offers online and mobile financial and accounting tools and platforms, which are part of the services we provide now or may offer in the future.
1.3 Becoming a Subscriber: By creating an account and agreeing to these terms, you become a subscriber, responsible for paying subscription fees.
1.4 Access for Other Users: Invited users are individuals other than the subscriber who are granted access to our services. Invited users must also agree to these terms.
1.5 Roles and Permissions: If you're a subscriber inviting others, you control their level of access. You can manage these roles and permissions within your subscription settings. Details are available on VELZI.AI.
1.6 Processing Payments Online: In some regions, you can connect your subscription to Stripe for online payments. Review the additional terms related to this feature if you use it.
1.7 Your Right to Use VELZI.AI: Subscribers and invited users can access VELZI.AI based on their subscription type, roles, and permissions, as long as the subscription is paid or until access is revoked.
1.8 Subscriber Responsibilities: Subscribers are responsible for managing their accounts, including:
Transferring ownership if needed.
Deciding who is invited and their access level.
Resolving access disagreements with invited users.
Monitoring the activity of all invited users.
1.9 Guidelines for Use: By using VELZI.AI, you agree to follow the guidelines in Section 8.6. Make sure to read this section to understand what actions are permitted and prohibited.
1.10 Your Duties: You must provide accurate, up-to-date information (including a valid email address) and protect your login credentials. We recommend using strong, unique passwords for added security.
1.11 Expanding and Updating Services: As VELZI.AI grows, we may introduce new or improved services. These updates may include additional terms, which we'll provide before you use the new features.
1.12 Intellectual Property: VELZI.AI retains ownership of its platform, including designs, content, and intellectual property (copyrights, trademarks, etc.). You may not copy, modify, distribute, or create derivative works from our content without our permission.
2. Pricing
Unless you're in a free trial or promotional period, you'll need to pay for a subscription based on your chosen plan. This section applies to subscribers, not invited users.
2.1 Trial Subscriptions: You may have the option to try our services for free when you first sign up. If you want to continue after the trial, provide your billing details as outlined in the pricing plan on VELZI.AI. If you decide not to continue, you can remove your organization from our system.
2.2 VELZI.AI Pricing Plans: You'll generally pay a monthly subscription fee based on your chosen plan. The pricing plan includes details on fees, payment terms, invoicing, auto-renewal, and cancellation. Pricing may vary by region, and we may update the pricing plan. If we make changes, we'll notify you in advance, and they won't apply retroactively (see Section 12.7 for notification details). Taxes like VAT or GST may be included or excluded depending on your location, as stated in the pricing plan.
2.3 Tax Responsibilities: You are responsible for any taxes or fees arising from using our services, including withholding taxes unless we handle them on your behalf. We may collect your geographical information to determine your tax obligations, so please ensure it's accurate.
2.4 Additional Services: Depending on your location and the services you use, you may be eligible for additional services that could incur extra charges. We'll notify you of any fees for these services when you sign up.
2.5 Timely Payment Requirements: Make payments on time according to your pricing plan to maintain access. Keep your payment details current to avoid missed payments. If payments are late, we may suspend your subscription until the outstanding amount is paid.
3. Data Use and Privacy
VELZI.AI collects and uses your data to provide and improve our services. We protect your privacy and handle your personal information securely. Our privacy notice, part of these terms, explains how we collect, use, store, and protect your data. By using our services, you consent to the practices in our privacy notice. We may update our privacy practices to comply with laws, and we'll notify you of significant changes. Ensure your personal information is accurate and review our privacy notice regularly.
3.1 Data Usage License: You retain ownership of the data you enter or upload. By using our services, you grant VELZI.AI a license to process, store, transmit, analyze, and back up your data, including personal data. This allows us to deliver and improve our services, develop new offerings, communicate with you, send relevant information based on your marketing preferences, and share data with trusted third-party providers to support these functions.
3.2 Personal Data Processing: Our privacy notice outlines how we handle personal data like your name and email. We ensure all data is processed securely and in compliance with privacy laws.
3.3 Processing Data of Others: If you input personal data about others (customers, employees, suppliers), our data processing terms apply. Protection levels may vary based on the location of the individuals whose data is provided.
3.4 Anonymized Data Usage: We may aggregate and anonymize data from your use of our services for internal purposes like improving services, developing features, and understanding trends. Anonymized data cannot be traced back to any individual.
3.5 Data Breach Notifications: If there's unauthorized access to your data, we'll notify you promptly with details of the breach. Depending on the incident and the location of affected individuals, you may need to report the breach to those individuals or a regulatory authority.
4. Confidential Information
We take reasonable steps to protect your confidential information and expect you to do the same for ours.
4.1 Confidentiality: During your use of our services, you may share confidential information with us, and vice versa. Both parties agree to take reasonable precautions to protect each other's confidential information. Confidential information may be shared with legal or regulatory authorities if required by law.
5. Security
We prioritize protecting your data and expect you to do the same. We offer advanced security features like multi-factor authentication, and you're encouraged to use them.
5.1 Security Measures: We've implemented measures to ensure the safety of your data. However, no electronic storage is completely infallible, and we can't guarantee absolute security. If we suspect unauthorized access, we may notify you and restrict access until you confirm the access was legitimate.
5.2 Account Protection Features: We may offer features like multi-factor authentication. In some regions or for certain services, these may be mandatory. If optional, it's your responsibility to use them, and we're not liable for consequences of not using them. We strongly recommend enabling all available security features.
5.3 Your Role in Data Security: Maintain the security of your login credentials. If you suspect unauthorized use, inform us immediately. Don't use free-form fields to store sensitive information like credit card details or bank account information.
6. Third-Party Products and Services
To enhance your experience, we integrate services from trusted third-party providers. These apps work in the background, supporting and improving the VELZI.AI platform.
6.1 Use of External Services: Some features may rely on external services with their own terms. For example, using the XE Currency Data Feed is governed by XE.com’s terms. Review and understand these terms before using such services.
6.2 Bank Feeds and Plaid Integration: If you use automated bank feeds from Plaid, you must agree to Plaid’s terms. Bank feeds are generally free, but any charges will be communicated by your bank. You can discontinue a bank feed anytime through VELZI.AI. Users must comply with Plaid's terms of service.
6.3 Third-Party Products: You may access data, services, and apps from third-party providers. These are independent of VELZI.AI, and providers may charge additional fees. VELZI.AI isn't responsible for these services or fees.
6.4 VELZI.AI App Store: You can purchase services or third-party products through the VELZI.AI App Store. Fees and taxes will be displayed before purchase, and you're responsible for these charges. By purchasing, you authorize VELZI.AI to process payments using your chosen method.
6.5 Terms of Third-Party Products: Third-party products are governed by their providers' terms, conditions, and privacy policies, including pricing, refunds, and data usage. Read and agree to these terms before connecting. While we ensure accuracy in descriptions, providers are responsible for their claims. VELZI.AI doesn't endorse or assume liability for third-party products.
6.6 Sharing Your Data with Third Parties: When connecting to third-party products, we'll use your data to establish and maintain the connection. Data received will be processed according to VELZI.AI’s privacy notice and these terms.
6.7 Liability and Responsibility: VELZI.AI isn't liable for issues from third-party products, including disruptions, errors, or data breaches. Resolve disputes directly with the provider.
6.8 Data Security and Privacy with Third-Party Providers: Be aware of how providers handle your data. VELZI.AI requires partners to adhere to strict security and privacy protocols, but review their policies to understand their practices.
7. Maintenance, Downtime, and Data Loss
We aim to minimize downtime and keep our services updated and secure. Occasional interruptions may occur, including those beyond our control. While we prevent disruptions, you might encounter access issues or, rarely, data loss. Regularly back up your data.
7.1 Service Availability: We work to keep services available 24/7 with online resources and assistance. Occasional maintenance may cause temporary downtime. We minimize disruptions and provide advance notice where possible, but it can't always be guaranteed.
7.2 Service Access Issues: Internet-based services can have access issues for reasons beyond our control. You may experience temporary difficulties accessing our services or your data.
7.3 Data Loss: Using technology involves a risk of data loss. Maintain backups of all data entered into our services. Guidance on exporting data is available through VELZI.AI Central. We're not liable for data loss except as outlined in Section 10.5.
7.4 Downtime Compensation: For system-wide downtime over four consecutive hours, you may request compensation at our discretion (pro-rata refund or credit). Submit requests in writing within 21 days of the downtime. We won't provide compensation for downtime from routine maintenance, events beyond our control, your breach of these terms, or issues with your equipment or network.
7.5 Support for Issues: We provide support articles on VELZI.AI knowledge base. Contact our support team directly by following instructions at the bottom of any support article.
7.6 Updates and Modifications: We frequently release updates and new features. Occasionally, we may discontinue features. Where practical, we'll notify you through email, our blog, or in-service notifications.
8. Protocols and Etiquette for Using VELZI.AI Services
To ensure a positive experience, we've outlined protocols based on common sense and mutual respect.
8.1 Share Constructive Feedback: We value your feedback and may use it without restriction.
8.2 Use Responsibly and Legally: Use our services for lawful business purposes and comply with applicable laws. Refer to our support resources for guidance.
8.3 Engage Respectfully in Discussions: Participate in discussions on VELZI.AI Central, following guidelines and sharing only what you have the right to share. Avoid posting private or sensitive data.
8.4 Be Mindful of Limitations: Some services may have usage limits. Comply with these to avoid disruptions.
8.5 Trial and Beta Services: We may offer no-cost services like beta features or trials. These are provided "as-is" with inherent risks.
8.6 Prohibited Activities: To protect our platform, the following are strictly prohibited:
Security Violations: Avoid actions that compromise security or integrity.
Interference: Don't impair functionality or interfere with others' use.
Unauthorized Access: Never attempt unauthorized access.
Malicious Content: Don't upload viruses or harmful code.
Inappropriate Content: Avoid offensive, illegal, or infringing content.
Tampering with Services: Don't modify, copy, reverse-engineer, or extract source code.
Unauthorized Distribution: Don't resell, lease, or sublicense our services without permission.
Fraudulent Activity: Don't commit fraud or engage in illegal activities.
Abusive Behavior: Treat VELZI.AI employees, partners, and customers with respect. Abusive behavior won't be tolerated.
9. Termination
You can terminate your subscription with one month's written notice, and we may do the same. We aim to retain customers and ensure satisfaction. If you breach these terms, we may terminate immediately (Section 9.4). No refunds will be issued, but you'll only be charged for services provided up to that point.
9.1 Terminating Your Subscription: Terminate with at least one month's written notice to dev@velzi.ai. We may also terminate with the same notice. We strive to address concerns before termination.
9.2 Immediate Termination: We may terminate immediately if you breach these terms, engage in unlawful activity, or compromise security or functionality.
9.3 Refunds Upon Termination: No refunds for unused portions, but you're only liable for fees up to the termination date.
9.4 Access to Data After Termination: Access ceases upon termination. Export data before ending your subscription. We may retain copies for a limited time for legal or compliance purposes (see our Privacy Policy).
9.5 Termination for Force Majeure Events: We may terminate without liability if circumstances beyond our control prevent us from providing services.
9.6 Cooling-Off Period (if applicable): UK and EU consumers may have a 14-day cooling-off period. If you terminate within this period and haven't used our services, you may receive a full refund.
9.7 Fair Treatment and Resolution: If termination seems unfair, contact our support team. We'll try to resolve disputes amicably.
10. Liability and Indemnity
This section details liability terms. Please read it thoroughly.
10.1 Indemnity: You agree to protect us from losses, costs, expenses, claims, or liabilities from your use of our services or third-party products, except where the loss is caused by our breach, gross negligence, wilful misconduct, fraud, or serious error. We'll take reasonable steps to mitigate losses.
10.2 Disclaimer of Warranties: Our services and third-party products are provided "as is" and "as available." We disclaim all warranties to the extent allowed by law, subject to Section 10.7 and your legal rights.
10.3 Limitation of Liability: Our liability is limited as follows:
Not liable for loss of revenue, profit, goodwill, customers, capital, anticipated savings, legal or compliance issues, reputation, or indirect, consequential, incidental, punitive, exemplary, or special losses.
If data is lost or corrupted, our liability is limited to reasonable efforts to recover it from backups.
Total liability won't exceed the amount paid in the 12 months before the claim.
10.4 Exclusions to Liability Limitations: Our liability won't be limited where prohibited by law, including death or personal injury from negligence, fraud, or other non-excludable liabilities.
10.5 Consumer Rights and Statutory Protections: These terms don't affect your statutory rights. You have the right to a refund, repair, or replacement if goods or services are defective.
10.6 Force Majeure: Not responsible for failure to perform due to events beyond our control.
10.7 Third-Party Products: No representations or warranties for third-party products. Use at your own risk.
11. Disputes
This section explains dispute resolution.
11.1 Dispute Resolution: Most issues can be resolved by contacting our support team. If we can't resolve your complaint, both parties agree to binding arbitration or small claims court, not general jurisdiction courts. Disputes will be addressed individually, not as part of a class action. You're responsible for resolving disputes with other users.
12. Important Housekeeping
12.1 No Professional Advice: VELZI.AI is not a professional services provider and does not offer professional advice of any kind. While we may provide useful information to help with running a small business, it should not be relied upon as a substitute for professional advice. We are not liable for any consequences arising from your use of this information.
12.2 Events Outside Our Control: We make every reasonable effort to meet our obligations. However, we will not be held liable for any failure or delay in fulfilling our obligations under these terms if such failure or delay arises from events or circumstances beyond our reasonable control.
12.3 Notices: Any notice you send to VELZI.AI must be directed to dev@velzi.ai. Notices we send to you will be sent to the email address you have provided us through your subscription.
12.4 Exclusion: In some jurisdictions, certain warranties, guarantees, or rights provided by law cannot be excluded (non-excludable guarantees). If you reside in one of these countries, these non-excludable guarantees will continue to apply, and these terms will not exclude, restrict, or modify them. Except for such non-excludable guarantees and rights that we cannot exclude by law, we are only bound by the explicit promises made in these terms. Our liability for breach of a non-excludable guarantee is limited, at our discretion, to either replacing the relevant service or reimbursing the cost of replacing it, unless the non-excludable guarantee specifies otherwise.
12.5 Export Limitations: You must not use our services in violation of any applicable export or trade embargo laws.
12.6 Excluded Terms: The terms of the United Nations Convention on Contracts for the Sale of Goods and the Uniform Computer Information Transactions1 Act (UCITA) do not apply to these terms.
12.7 Blocking Your Access, Disabling Your Subscription, or Refusing to Process a Payment: Due to the global nature of our services, different laws may apply in different countries. We may block your access, terminate your subscription, or refuse to process2 a payment if we reasonably believe there is a legal or regulatory risk, or a risk of loss to us, our customers, or our partners. This may include situations where payments are from a sanctioned individual or country, or if we are unable to process payments from your location. You confirm that you are not located in a sanctioned country or on a sanctions list. You should also check which payment methods are available in your country. These actions may be taken without prior notice.
12.8 Relationship Between the Parties: Nothing in these terms should be construed as creating a partnership, joint venture, employment, or agency relationship between you and us, or between3 you and any other subscriber or invited user.
12.9 Transfer of These Terms: VELZI.AI may transfer these terms, or any of its rights or obligations under these terms, to another entity as it sees fit. If this transfer involves the sale or merger of VELZI.AI or a substantial portion of its business, we will notify you in writing. A subscriber may transfer their subscription to a new subscriber in accordance with Section 1.8.
12.10 Changes to These Terms: We may occasionally update these terms. Any changes will not apply retroactively, and we will inform you of material changes before they take effect. Changes will be communicated via email or through a visible notice on our services. We will provide reasonable notice (at least 60 days) of any material changes, unless immediate changes are required due to reasons outside our control. If you find any changes unacceptable, you may terminate your subscription by providing the standard notice to VELZI.AI.
12.11 Enforcement of Terms: If any part of these terms is deemed unenforceable, it will be disregarded, but the remaining provisions will continue to be enforceable.
12.12 Interpretation: Words such as "include" and "including" are not intended to limit the scope of the provisions. Where discretion is mentioned, it refers to our sole discretion.
12.13 VELZI.AI Contracting Entities; Law and Venue: The contracting entity of VELZI.AI is listed below, along with the applicable law and jurisdiction for any disputes. VELZI.AI refers to companies controlled by or under common control with VELZI.AI Limited, a company registered in England and Wales (Registration No. 15658198).
Agreement to these Terms of services is required to access and use VELZI.AI's services. By continuing to use our platform, you signify your ongoing acceptance of these terms.
Last updated
Was this helpful?