Terms and Conditions

1. Introduction

These Terms and Conditions ("Terms") govern your access to and use of the MONETRAXAPP platform ("Platform", "Service", "we", "us", or "our"), a financial operating system provided by Monetraxapp Ltd.

By creating an account or using any part of the Service, you ("User", "you", or "your") agree to be bound by these Terms, our Privacy Policy, and any additional terms referenced herein. If you do not agree, you must not use the Service.

These Terms constitute a legally binding agreement between you and Monetraxapp Ltd. We reserve the right to modify these Terms at any time. Material changes will be communicated via email or in-app notification at least 30 days before taking effect.

2. Definitions

• "Platform" means the MONETRAXAPP web application, APIs, and related services.
• "User" means any individual or entity that registers for or accesses the Service.
• "Business Data" means all financial records, transactions, invoices, tax filings, and other business information uploaded to or generated by the Platform.
• "Subscription" means the paid or free service tier selected by the User.
• "Enterprise Features" means features available exclusively to Enterprise tier subscribers, including but not limited to HMRC MTD compliance, advanced analytics, and file storage.
• "Third-Party Services" means external services integrated with the Platform, including Stripe, HMRC, bank providers, and AI services.

3. Eligibility and Account Registration

3.1 Eligibility

You must be at least 18 years of age and have the legal capacity to enter into a binding agreement to use the Service. If you are using the Service on behalf of a business or organisation, you represent and warrant that you have the authority to bind that entity to these Terms.

3.2 Account Security

You are responsible for maintaining the confidentiality of your account credentials, including passwords, passkeys, and multi-factor authentication devices. You must notify us immediately at admin@monetraxapp.com if you suspect any unauthorised access to your account.

3.3 Accurate Information

You agree to provide accurate, current, and complete information during registration and to keep your account information updated. We reserve the right to suspend or terminate accounts that contain materially inaccurate or fraudulent information.

4. Description of Service

MONETRAXAPP provides a cloud-based financial operating system for micro, small, and medium enterprises (MSMEs). The Service includes:

• Double-entry accounting and bookkeeping
• Multi-jurisdiction tax calculation and compliance (UK, USA, Nigeria)
• HMRC Making Tax Digital (MTD) compliance (Enterprise tier)
• Invoice generation, delivery, and payment collection
• Bank account integration and transaction synchronisation
• AI-powered receipt scanning and transaction categorisation
• Financial reporting and analytics
• Multi-currency support with live exchange rates
• Quotes, purchase orders, expense claims, and fixed asset management

The Service is provided "as available". We may modify, suspend, or discontinue any feature at any time with reasonable notice. Feature availability depends on your subscription tier.

5. Subscriptions and Payment

5.1 Subscription Tiers

The Service is offered across multiple subscription tiers: Free, Starter, Business, and Enterprise. Each tier provides access to different features as described on our pricing page. Prices are displayed in your local currency based on your geographic location.

5.2 Billing and Payment

Paid subscriptions are billed in advance on a monthly or annual basis. All payments are processed securely through Stripe. We do not store your payment card details. By subscribing, you authorise us to charge your selected payment method on each billing cycle.

5.3 Price Changes

We may change subscription prices with at least 30 days' written notice. Price changes will take effect at the start of your next billing cycle. If you do not agree to a price change, you may cancel your subscription before the new price takes effect.

5.4 Refunds

Annual subscriptions may be eligible for a pro-rata refund within the first 14 days of purchase if you are not satisfied with the Service. Monthly subscriptions are non-refundable but can be cancelled at any time to prevent future charges. Refund requests should be sent to admin@monetraxapp.com.

5.5 Free Tier

The Free tier provides limited access to core features. We reserve the right to modify the features available on the Free tier at any time.

6. User Obligations and Acceptable Use

6.1 Lawful Use

You agree to use the Service only for lawful business purposes and in compliance with all applicable laws, regulations, and industry standards in your jurisdiction.

6.2 Prohibited Conduct

You must not:

• Use the Service for money laundering, tax evasion, fraud, or any illegal activity
• Upload malicious code, viruses, or content that could harm the Platform or other users
• Attempt to gain unauthorised access to other users' accounts or data
• Reverse-engineer, decompile, or disassemble any part of the Platform
• Use automated tools to scrape, crawl, or extract data from the Service without authorisation
• Resell, sublicense, or redistribute the Service without our prior written consent
• Misrepresent your identity or provide false information to HMRC or other tax authorities through the Platform

6.3 Data Accuracy

You are solely responsible for the accuracy and completeness of all financial data, tax information, and business records entered into the Platform. MONETRAXAPP does not verify the correctness of user-submitted data.

7. Intellectual Property

7.1 Our Intellectual Property

All rights, title, and interest in and to the Platform, including its design, code, algorithms, branding, trademarks, and documentation, are owned by Monetraxapp Ltd. Nothing in these Terms grants you any right to use our trademarks, logos, or brand materials without prior written consent.

7.2 Your Data

You retain all ownership rights to your Business Data. By using the Service, you grant us a limited, non-exclusive licence to process, store, and display your data solely for the purpose of providing the Service. We will not sell, share, or use your data for any purpose other than delivering and improving the Service, as described in our Privacy Policy.

7.3 Feedback

Any feedback, suggestions, or ideas you provide about the Service may be used by us without obligation to you.

8. Third-Party Services and Integrations

8.1 Third-Party Services

The Platform integrates with third-party services including but not limited to:

• Stripe — Payment processing (governed by Stripe's Terms of Service)
• HMRC — Tax compliance and Making Tax Digital submissions (governed by HMRC's terms of use)
• Bank providers (Mono, Stripe Financial Connections, Stitch) — Bank account linking and transaction syncing
• AI services — Receipt scanning and intelligent categorisation
• Email and messaging services — Invoice delivery and notifications

8.2 Third-Party Terms

Your use of third-party services through the Platform is subject to those services' own terms and conditions and privacy policies. We are not responsible for the availability, accuracy, or conduct of any third-party service.

8.3 HMRC Submissions

When you use the Platform to submit data to HMRC (including quarterly updates, obligations, and final declarations), you confirm that all information submitted is true, complete, and accurate to the best of your knowledge. MONETRAXAPP acts as a software conduit and does not independently verify or guarantee the correctness of information submitted to HMRC on your behalf.

9. Tax and Financial Disclaimer

• Tax calculations, estimates, and reports generated by the Platform are for informational purposes and may not reflect your actual tax liability.
• You are solely responsible for ensuring that your tax filings are accurate and submitted on time to the relevant tax authorities.
• We strongly recommend consulting a qualified accountant or tax professional for advice specific to your circumstances.
• AI-powered features (receipt scanning, transaction categorisation, financial insights) use machine learning models that may occasionally produce inaccurate results. You should review and verify all AI-generated outputs.
• Exchange rates displayed are sourced from third-party providers and may not reflect real-time market rates. They should not be used for foreign exchange trading decisions.

10. Data Protection and Privacy

We process your personal data in accordance with our Privacy Policy, which forms part of these Terms. Key commitments include:

• Compliance with UK GDPR, EU GDPR, Nigeria Data Protection Act 2023, and CCPA
• AES-256 encryption of data at rest and TLS 1.2+ encryption in transit
• No sale of your personal or financial data to third parties
• Right to access, rectify, port, and delete your data (subject to regulatory retention requirements)
• Financial records retained for a minimum of 7 years as required by tax regulations
• Data processing agreements in place with all sub-processors

For data deletion requests, visit /delete-data or email admin@monetraxapp.com.

11. Limitation of Liability

11.1 Service Provided "As Is"

THE SERVICE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

11.2 Limitation

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, MONETRAXAPP LTD SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO:

• Loss of profits, revenue, or business
• Loss of data or Business Data
• Incorrect tax calculations or late filings resulting from use of the Service
• Penalties imposed by tax authorities (HMRC, IRS, FIRS, or others)
• Interruption of business or loss of goodwill
• Errors or omissions in AI-generated content or financial reports

11.3 Cap on Liability

Our total aggregate liability for all claims arising from or relating to the Service shall not exceed the greater of (a) the total amount paid by you to us in the 12 months preceding the claim, or (b) GBP 100.

11.4 Exceptions

Nothing in these Terms excludes or limits liability for: (a) death or personal injury caused by negligence; (b) fraud or fraudulent misrepresentation; or (c) any other liability that cannot be excluded or limited by applicable law, including under the Consumer Rights Act 2015 (UK).

12. Indemnification

You agree to indemnify, defend, and hold harmless Monetraxapp Ltd, its directors, officers, employees, and agents from and against any claims, liabilities, damages, losses, costs, or expenses (including reasonable legal fees) arising from: (a) your use of the Service; (b) your violation of these Terms; (c) your violation of any applicable law or regulation; (d) inaccurate data you submit to the Platform or through the Platform to third-party services including HMRC; or (e) any third-party claim arising from your use of the Service.

13. Termination

13.1 Termination by You

You may terminate your account at any time by contacting us at admin@monetraxapp.com. Upon termination, your access to the Service will cease, and you may request deletion of your data in accordance with our Privacy Policy.

13.2 Termination by Us

We may suspend or terminate your access to the Service immediately, without prior notice, if: (a) you breach these Terms; (b) your account is used for illegal activity; (c) you fail to pay subscription fees after reasonable notice; or (d) we are required to do so by law or regulation.

13.3 Effect of Termination

Upon termination: (a) all licences granted to you under these Terms will cease; (b) you must stop using the Service; (c) your data will be handled in accordance with our Data Retention and Disposal Policy; (d) financial records subject to regulatory retention will be retained for the required period in anonymised form.

14. Governing Law and Dispute Resolution

14.1 Governing Law

These Terms shall be governed by and construed in accordance with the laws of England and Wales, without regard to conflict of law principles.

14.2 Dispute Resolution

In the event of any dispute arising from these Terms, the parties shall first attempt to resolve the matter through good-faith negotiation. If the dispute cannot be resolved within 30 days of written notice, either party may:

• For UK and EU users: Submit the dispute to the exclusive jurisdiction of the courts of England and Wales, or use the EU Online Dispute Resolution platform at ec.europa.eu/consumers/odr
• For users in other jurisdictions: Submit the dispute to binding arbitration in accordance with the rules of the London Court of International Arbitration (LCIA)

14.3 Class Action Waiver

To the maximum extent permitted by law, you agree that any dispute resolution proceedings will be conducted on an individual basis and not as part of a class, consolidated, or representative action.

15. Service Availability

We aim to maintain the Service availability at 99.9% uptime. However, we do not guarantee uninterrupted access. The Service may be temporarily unavailable due to:

• Scheduled maintenance (notified in advance where practicable)
• Emergency security patches or updates
• Circumstances beyond our reasonable control (force majeure)
• Third-party service outages (Stripe, HMRC, bank providers)

16. Changes to These Terms

We reserve the right to update these Terms from time to time. Material changes will be communicated via email to the address associated with your account and/or via an in-app notification at least 30 days before the changes take effect. Your continued use of the Service after the effective date of the updated Terms constitutes your acceptance. If you do not agree to the updated Terms, you must discontinue use of the Service and may request account termination.

17. General Provisions

17.1 Severability

If any provision of these Terms is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect.

17.2 Entire Agreement

These Terms, together with our Privacy Policy and any applicable subscription terms, constitute the entire agreement between you and Monetraxapp Ltd regarding the Service.

17.3 Waiver

Our failure to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision.

17.4 Assignment

You may not assign or transfer your rights under these Terms without our prior written consent. We may assign our rights and obligations under these Terms to an affiliate or successor in interest.

18. Contact Information

For questions about these Terms, please contact us:

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