Terms of Service

Effective Date: May 16 2024

1. Acceptance of Terms

This Terms of Service Agreement ("Agreement") is a legal agreement between you ("User" or "you") and extrakt.AI Inc. ("Company", "we", "us", or "our") governing your use of the extrakt.AI application ("Software"). By creating an account and using the Software, you acknowledge that you have read, understood, and agree to be bound by this Agreement. If you are entering into this Agreement on behalf of a business or other legal entity, you represent that you have the authority to bind such entity to these terms, in which case the terms "User," "you," or "your" shall refer to such entity.

2. License Grant & Restrictions

The Company grants you a non-exclusive, non-transferable, revocable license to use the Software solely for your internal business operations subject to the terms of this Agreement. You agree not to license, sell, rent, lease, transfer, assign, distribute, host, or otherwise commercially exploit the Software. You agree not to modify, make derivative works of, disassemble, reverse compile, or reverse engineer any part of the Software, or access the Software in order to build a similar or competitive product or service.

3. Account Registration

To access certain features of the Software, you must register for an account. By registering, you agree to provide accurate, current, and complete information about your business and to maintain the confidentiality of your account information, including your password.

4. Use of the Software

You agree to use the Software only for lawful business purposes and in compliance with all applicable laws, rules, and regulations. The Company is not responsible for decisions made based on the output of the Software. The Software is a tool to assist in decision-making, and you agree that you are solely responsible for all decisions made based on your use of the Software.

5. Company Logo Use

You grant the Company the right to use your company's logo in its promotional materials as a customer reference. You may revoke this right at any time by providing written notice to the Company.

6. Intellectual Property

The Software and all intellectual property rights therein are the exclusive property of the Company or its licensors. Except for the license granted under this Agreement, all rights in and to the Software are reserved by the Company.

Notwithstanding the foregoing, any data, results, or outputs generated by your use of the Software, using inputs provided by you (collectively, "Extraction Results"), are owned solely by you. The Company shall not claim any ownership rights to the Extraction Results under this Agreement.

7. Privacy Policy

By agreeing to these Terms of Service and using our Software, you also consent to the collection, use, and sharing of your personal information as outlined in our Privacy Policy, which is incorporated by reference into these Terms. Our Privacy Policy provides detailed information on how we handle and protect your personal data and your rights concerning that data. You can review the Privacy Policy on our website here.

8. Payment Terms

Subscription Fees: You agree to pay the subscription fees and any other charges incurred in connection with your account at the rates in effect when the charges were incurred. Subscription fees will be billed at the beginning of your subscription and any renewal thereof.

Purchasing Credits: Users have the option to purchase credits for use within the Software. These credits can be used to access additional features or services. Any credits purchased do not expire and will remain available until used.

Cancellation and Renewal: Your subscription will automatically renew unless you cancel your subscription through your account settings before the end of the current subscription period. If you cancel, your subscription will terminate at the end of the current payment period, but you will not be eligible for any refund of subscription fees paid.

Refunds and Disputes: All fees are non-refundable, except as required by law or as explicitly set forth herein. Any disputes about charges must be submitted to the Company within sixty (60) days of the charge date.

9. Termination

This Agreement will remain in effect until terminated by you or the Company. The Company may terminate this Agreement at any time without notice if you breach any of the terms and conditions of this Agreement. Upon termination, the license granted hereunder shall also terminate, and you shall cease using the Software and delete all copies.

10. Disclaimers

The Software is provided "as is," and the Company makes no warranties of any kind, whether express, implied, statutory, or otherwise, including, without limitation, warranties of merchantability, fitness for a particular purpose, or non-infringement.

11. Limitation of Liability

To the fullest extent permitted by law, in no event will the Company, nor its directors, employees, partners, agents, suppliers, or affiliates, be liable for any indirect, punitive, incidental, special, consequential, or exemplary damages, including damages for business interruption or loss of profits, arising out of or in connection with this Agreement or the Software.

12. Governing Law

This Agreement shall be governed by the laws of United States of America without regard to its conflict of laws principles.

13. Entire Agreement

This Agreement constitutes the entire agreement between you and the Company regarding your use of the Software and supersedes all prior and contemporaneous written or oral agreements between you and the Company.

14. Changes to this Agreement

The Company reserves the right, at its sole discretion, to modify or replace this Agreement at any time.

15. Contact Information

If you have any questions about these Terms, please contact us.