Terms of Service

1. Acceptance of Terms

These Terms of Service ("Terms") govern your access to and use of FineIT Private Limited's software products, services, and platforms (collectively, the "Services"). By accessing or using our Services, you agree to be bound by these Terms. If you do not agree to these Terms, do not access or use the Services.

2. Service Description

FineIT provides enterprise software solutions for financial compliance, including but not limited to:

• Estimator 9: IFRS 9 ECL automation platform
• ContractHive: IFRS 16 lease accounting software
• Estimator 17: IFRS 17 actuarial engine for insurance
• Basel Analytics: Basel III/IV compliance platform
• Risk-Adjusted Valuation and Model Validation services

3. License Grant

Subject to these Terms and payment of applicable fees, FineIT grants you a non-exclusive, non-transferable, revocable license to access and use the Services solely for your internal business purposes. This license does not include:

• Reselling, sublicensing, or distributing the Services
• Reverse engineering, decompiling, or disassembling the software
• Removing proprietary notices or labels
• Using the Services for competitive purposes
• Exceeding agreed-upon usage limits or user counts

4. User Accounts and Security

You are responsible for:

• Maintaining the confidentiality of your account credentials
• All activities that occur under your account
• Notifying FineIT immediately of any unauthorized access
• Ensuring your users comply with these Terms
• Implementing appropriate internal controls and access management

5. Data and Privacy

You retain all rights to your data. By using the Services, you grant FineIT a limited license to process your data solely to provide the Services. We will:

• Process data in accordance with our Privacy Policy
• Implement industry-standard security measures (encryption, access controls)
• Not use your data for purposes other than providing Services
• Comply with applicable data protection regulations (GDPR, local laws)
• Provide data portability and deletion upon request

6. Fees and Payment

You agree to pay all fees as specified in your Order Form or License Agreement:

• Fees are due as per payment terms (typically net 30 days)
• Late payments may incur interest at 1.5% per month or maximum allowed by law
• FineIT may suspend Services for non-payment after 15 days notice
• Annual fees are non-refundable except as required by law
• Fees may increase upon renewal with 60 days notice

7. Service Level Agreement (SLA)

FineIT commits to:

• 99.9% uptime for production environments (excluding scheduled maintenance)
• Scheduled maintenance windows announced 7 days in advance
• 24/7 support for Severity 1 (critical) issues
• Response times based on support plan tier
• Service credits for uptime breaches as per your Enterprise Agreement

8. Intellectual Property

All intellectual property rights in the Services, including software, algorithms, methodologies, documentation, and trademarks, belong to FineIT. You may not:

• Copy, modify, or create derivative works of the Services
• Use FineIT's trademarks without written permission
• Claim ownership of any FineIT intellectual property
• Patent or copyright any FineIT methods or algorithms

9. Warranties and Disclaimers

Limited Warranty: FineIT warrants that the Services will perform substantially as described in the documentation. For any breach of this warranty, your exclusive remedy is to request corrections or receive a refund for prepaid fees.

Disclaimer: EXCEPT AS EXPRESSLY PROVIDED, THE SERVICES ARE PROVIDED "AS IS" WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.

FineIT does not guarantee that the Services will be error-free, uninterrupted, or meet all regulatory requirements. You are responsible for validating outputs and ensuring compliance with applicable regulations.

10. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW:

• FineIT's total liability shall not exceed fees paid in the 12 months preceding the claim
• FineIT is not liable for indirect, incidental, consequential, or punitive damages
• FineIT is not liable for lost profits, data loss, or business interruption
• This limitation applies even if FineIT was advised of the possibility of such damages

11. Indemnification

You agree to indemnify and hold FineIT harmless from claims arising from: (a) your use of the Services in violation of these Terms, (b) your violation of applicable laws, (c) your data or content, or (d) unauthorized use of your account.

FineIT will indemnify you against claims that the Services infringe third-party intellectual property rights, provided you notify us promptly and cooperate in the defense.

12. Term and Termination

These Terms begin when you first access the Services and continue until terminated:

• You may terminate by providing 30 days written notice
• FineIT may terminate for material breach after 15 days cure period
• Either party may terminate if the other becomes insolvent
• Upon termination, you must cease using the Services and return all materials
• Data export is available for 30 days post-termination

13. Confidentiality

Both parties agree to protect confidential information, including business terms, technical details, and customer data. Confidential information may only be disclosed to employees and contractors who need to know and are bound by confidentiality obligations.

14. Compliance and Regulatory

You acknowledge that:

• FineIT provides tools to assist with compliance but does not guarantee regulatory approval
• You are responsible for validating outputs and meeting all regulatory requirements
• You must obtain necessary approvals from regulators (SBP, CBUAE, CBK, etc.)
• FineIT may provide regulatory updates but you remain responsible for compliance

15. Governing Law and Dispute Resolution

These Terms are governed by the laws of Pakistan, without regard to conflict of law principles. Any disputes will be resolved through:

• Good faith negotiations for 30 days
• Mediation in Karachi, Pakistan if negotiation fails
• Arbitration under ICC Rules in Karachi, Pakistan if mediation fails
• Court proceedings only for injunctive relief or IP disputes

16. Changes to Terms

FineIT may update these Terms from time to time. We will notify you of material changes via email or platform notification at least 30 days before the changes take effect. Your continued use of the Services after changes constitutes acceptance.

17. General Provisions

Entire Agreement: These Terms, together with your Order Form and Privacy Policy, constitute the entire agreement between you and FineIT.

Severability: If any provision is found unenforceable, the remaining provisions continue in full force.

No Waiver: Failure to enforce any provision does not waive future enforcement.

Assignment: You may not assign these Terms without FineIT's written consent. FineIT may assign to affiliates or in connection with a merger or acquisition.

18. Contact Information

For questions about these Terms, contact us at: