Terms of Service

ZenTreasury Oy (Business ID: 2762104-2, Itämerenkatu 3, 00180 Helsinki, Finland), a limited liability company based in Finland, hereinafter the "Company", provides lease accounting software (hereinafter "Service") to their customer (hereinafter "Customer") according to the terms and conditions of these terms of service (hereinafter the "Terms of Service").

By creating an account or using the Service, the Customer warrants having read and understood these Terms of Service, and the Customer accepts these Terms of Service as legally binding. If the Customer has not read, understood, or does not agree to these Terms of Service, the Customer cannot use the Service.

1. Delivery of the Service

1.1. Software-as-a-Service

1.1.1. The Service gives its users access to a cloud-based lease accounting platform that provides automated calculations, journal entries, reports, and disclosures under applicable accounting standards including FRS 102 Section 20, IFRS 16, and ASC 842 (as applicable to the Customer's subscription plan), and any ancillary products and services provided by the Company to the Customer.

1.1.2. The Service, unless otherwise separately agreed in writing between the Company and the Customer, is delivered to the Customer as Software-as-a-Service, or SaaS.

1.1.3. The Customer understands that the creation of an environment within the Service by the admin user limits user access to individuals with email addresses sharing the same domain as the admin user. This built-in feature ensures secure and organisation-specific use of our services. To enable environment access for users with email domains different from the admin user, the Customer may opt for an upgraded subscription plan.

1.2. Subscription

1.2.1. The Customer acquires the right to use the Company's Service (hereinafter "Subscription") by creating an account and selecting a subscription plan on the Service's website or application.

1.3. Service Availability

1.3.1. The Company shall use commercially reasonable efforts to make the Service available, but does not guarantee uninterrupted access. Scheduled maintenance will be communicated in advance where practicable.

1.4. Professional Advice Disclaimer

1.4.1. The Service provides automated accounting calculations and reports. It does not constitute, and shall not be relied upon as, professional accounting, audit, tax, or legal advice. Outputs are tools to assist the Customer's accounting processes. The Customer is solely responsible for ensuring that its accounting treatment is appropriate for its specific circumstances and must consult qualified professionals where needed. The Company expressly disclaims any liability arising from reliance on the Service's outputs without independent professional verification.

2. Account Registration and Eligibility

2.1. Eligibility

2.1.1. The Service is intended for use by legitimate business organisations. By registering, the Customer represents and warrants that: (i) the Customer is registering on behalf of a real, existing business entity (whether a company, partnership, charity, public body, or other organisation); (ii) the Customer has the authority to bind that entity to these Terms of Service; (iii) the information provided during registration is accurate and complete; and (iv) the Customer will maintain the accuracy of its account information.

2.2. One Account Per Organisation

2.2.1. Each organisation (including its subsidiaries, affiliates, and entities under common control) is entitled to one account under the Free Plan. Creating multiple accounts to circumvent usage limits, obtain additional free access, or avoid paying for a subscription constitutes a material breach of these Terms of Service. The Company reserves the right to merge, suspend, or terminate duplicate accounts without notice, and to invoice the Customer retroactively for the appropriate subscription level.

2.3. Account Security

2.3.1. The Customer is responsible for maintaining the confidentiality of account credentials and for all activities that occur under its account. The Customer must notify the Company promptly of any unauthorised use.

3. Service Fees and Payment Terms

3.1. Free Plan

3.1.1. The Company may offer a free subscription plan (hereinafter "Free Plan") at its sole discretion. The Free Plan is subject to feature limitations, usage limits, and restrictions as determined by the Company and published on the Service's website from time to time.

3.1.2. The Free Plan may be modified, restricted, or discontinued by the Company at any time, for any reason, with or without notice.

3.1.3. The Free Plan is provided "as is" without warranty, service level commitment, or support obligation. It does not create any right to continued free access.

3.1.4. The Free Plan may include branding or promotional elements determined by the Company.

3.1.5. The Company reserves the right to convert, migrate, or require upgrade of Free Plan accounts to paid plans at any time upon reasonable notice.

3.2. Beta Service

The Company may offer Customers certain features for the purpose of testing and evaluation called beta services (hereinafter "Beta Services"). The Company reserves the right to fully or partially discontinue, at any time and from time to time, temporarily or permanently, any of the Beta Services, with or without notice to the Customer. The Customer agrees that the Company will not be liable to the Customer or to any third party for any harm related to, arising out of the Customer's use of the Beta Services, or caused by the modification, suspension or discontinuance of any of the Beta Services, for any reason.

3.3. Subscription Fee and Billing

3.3.1. Paid subscription plans (hereinafter "Paid Plans") are available as set out on the Company's pricing page at: https://leaseaccounting.app/pricing. The Company has the right to change their pricing at their sole discretion. Unless otherwise agreed, the yearly price increase of Subscription Fees is 5%. Price changes for existing customers will take effect at the next renewal period, with at least thirty (30) days' prior notice.

3.3.2. Paid Plans are billed in advance on a monthly or annual basis, as selected by the Customer at the time of subscription, via Stripe or other payment processor designated by the Company.

3.3.3. All fees are exclusive of applicable taxes (including VAT), which shall be added where required by law.

3.3.4. If the Customer updates their Subscription during their Subscription period, the Company shall invoice or charge the Customer accordingly.

3.4. Refunds

3.4.1. Annual subscriptions: If the Customer cancels within fourteen (14) days of initial purchase and has not materially used the Service, a full refund will be provided. After fourteen (14) days, no refunds will be issued.

3.4.2. Monthly subscriptions: No refunds for partial months. Cancellation takes effect at the end of the current billing period.

3.4.3. Free Plan accounts: no refund applies.

3.5. Overdue Payments

3.5.1. The Company may suspend access to the Service if payment is overdue by more than fourteen (14) days.

3.5.2. The Company may charge interest on overdue payments in accordance with the Finnish Interest Rates Act. The Customer must also pay reasonable reminder and collection charges.

4. Rights and Responsibilities of the Customer

4.1. The Customer has an obligation to provide accurate and complete information during registration.

4.2. The Company may suspend the Customer's access to the Service partially or in full in the event that the Customer uses the Service in violation of applicable law, these Terms of Service, or Section 2 (Account Registration). The Company has a similar right when the Customer has not paid their invoices in accordance with this Agreement. The Company will at its sole discretion determine the duration of the suspension.

4.3. The Company may have data servers located within and outside of the EU. If not explicitly otherwise mentioned, the servers are located in Finland by default.

4.4. The Customer is solely responsible for the actions or inactions that the Customer's staff member undertakes while using the Service. The Customer guarantees that when its staff members use the Service, the staff members shall comply with the Customer's obligations under these Terms of Service.

4.5. In connection to the use of the Service, the Customer is solely responsible for the electronic devices, communication devices and other such devices and matters such as hardware condition, internet connection, antivirus, backup, and other similar matters.

4.6. The Customer agrees to use the Service only for the purposes permitted by the Terms of Service and any applicable laws, regulations and generally accepted policies and guidelines in the relevant jurisdiction.

4.7. The Customer agrees not to take up any actions that disturb or in any other way hinder the Service or the Company's servers or networks.

4.8. The Service may contain links to third party websites. When the Customer visits third party websites, the Customer does so on its own responsibility and risk.

4.9. Any information provided by the Company or obtained by the Customer in accordance with these Terms of Service, may only be used by the Customer for the purpose described in these Terms of Service and may not be disclosed to any third party or used to create any software which is substantially similar to the software contained and/or used in connection with the Service.

4.10. The Customer is solely responsible for meeting all regulatory requirements imposed upon them, including but not limited to tax and accounting related matters.

4.11. The Customer shall not use the Service, or any data, information, or know-how obtained through the use of the Service, to develop, market, or operate any product or service that competes with or is substantially similar to the Service. The Customer shall not use automated tools, bots, scrapers, or crawlers to access the Service except through APIs expressly published by the Company. The Customer shall not misrepresent the Customer's identity, organisation, or authority.

5. Intellectual Property Rights

5.1. The Company owns and retains all proprietary rights in the Service and in all content, trademarks, trade names, service marks and other intellectual property rights related thereto. The Customer agrees to not copy, modify, transmit, create any derivative works from, make use of, or reproduce in any way any copyrighted material, trademarks, trade names, service marks, or other intellectual property or proprietary information accessible through the Service. The Customer agrees to not remove, obscure, or otherwise alter any proprietary notices appearing on any content.

5.2. If the Customer provides any communications or materials to the Company by email, telephone, or otherwise, suggesting or recommending changes to the Service, including without limitation, new features or functionality relating thereto, or any comments, questions, suggestions, the Company is free to use such feedback irrespective of any other obligation or limitation between the parties governing such feedback. The Company is free to use, without any attribution or compensation to any party, any ideas, know-how, concepts, techniques, or other intellectual property rights contained in feedback, for any purpose whatsoever, although the Company is not required to use any of such feedback.

5.3. All intellectual property rights and title to the Customer's input data shall belong to the Customer or a third party, as applicable. ZenTreasury shall have the right to use the Customer's data solely for the purposes of providing the Service under this agreement. Any derivative works, enhancements, or outputs generated by ZenTreasury, including AI-based forecasts or analytics, shall remain the exclusive intellectual property of ZenTreasury. For the avoidance of doubt, anonymised and aggregated statistical insights derived from Customer Data (where no individual Customer's data is identifiable) are not Customer Data and are the intellectual property of the Company.

5.3a. The Service may incorporate artificial intelligence and machine learning features including, but not limited to, automated calculations, forecasts, analytics, document data extraction, classification suggestions, and anonymised benchmark comparisons (collectively, "Data Intelligence Features"). The following applies to Data Intelligence Features:

(a) The Company does not use Customer Data to train general-purpose artificial intelligence models.

(b) Where Data Intelligence Features process uploaded documents, raw document content is not retained beyond the processing session. "Processing session" means the period during which the document is actively being analysed; raw content is deleted within 24 hours of session completion.

(c) Extraction corrections submitted by users (the AI-extracted value compared with the user-corrected value at field level, together with confidence score and correction type) may be retained in de-identified form for up to 36 months to improve extraction accuracy. This retention period is necessary to capture sufficient correction patterns across annual reporting cycles to meaningfully improve extraction accuracy. No corrections are attributable to any individual Customer.

(d) The Company may generate anonymised, aggregate benchmarks from Customer Data under its legitimate interest in service improvement, provided that: (i) no single organisation contributes more than 5% of any aggregate; (ii) aggregates are drawn from a minimum cohort of 20 organisations; and (iii) the output does not permit re-identification of any Customer. These benchmarks constitute Company intellectual property.

(e) AI-generated outputs are provided for informational and computational purposes and do not constitute professional advice. The Customer acknowledges that AI features may produce results that require independent verification.

(f) The Customer may object to anonymised benchmark aggregation at any time by visiting zentreasury.com/privacy/opt-out or emailing privacy@leaseaccounting.app. Opting out does not affect the Customer's access to or use of Data Intelligence Features.

(g) Raw AI prompts are not retained by default. Structured interaction labels and field-level outcomes are retained per the retention schedule in the Privacy Policy.

5.3b. In accordance with Regulation (EU) 2024/1689 (the EU Artificial Intelligence Act), the Company discloses that: (a) the Company acts as deployer of AI systems within the Service; (b) Data Intelligence Features are classified as limited-risk AI systems under the AI Act; (c) users are informed when they interact with AI-generated content through in-application disclosures; and (d) the Company maintains an internal AI system register documenting the AI systems deployed, their risk classification, and applicable safeguards. The Company ensures that staff involved in the operation and oversight of AI features possess sufficient AI literacy as required by Article 4 of the AI Act. Data used to improve AI extraction is logged with provenance, purpose, and retention period in the Company's AI disclosure register. Users may request a summary of AI-assisted decisions affecting their data by contacting privacy@leaseaccounting.app.

6. Confidentiality

6.1. Each party shall keep in confidence all material and information received from the other party and marked as confidential or which should be understood to be confidential and may not use such material or information for any other purposes than those set forth in the Terms of Service. The confidentiality obligation shall, however, not be applied to any material or information: (i) which is generally available or otherwise public; (ii) which the party has received from a third party without any obligation of confidentiality; (iii) which was in the possession of the party prior to receipt of the same from the other party without any obligation of confidentiality related thereto; (iv) which the party has developed independently without using material or information received from the other party; or (v) which the party shall disclose pursuant to a law, decree or other order issued by the authorities or judicial order.

6.2. Neither Party shall present the other Party, the Service or the execution of the Service in a negative manner in public.

6.3. The Company shall implement and maintain appropriate technical and organisational measures in line with industry standards to protect the Service against unauthorised access, data breaches, and cyber threats.

6.4. The Customer acknowledges that any data, information, or content accessible through the Service that does not belong to the Customer constitutes Confidential Information of the Company or its licensors. If the Customer or any of its users encounters information that is not intended for the Customer, the Customer shall: (i) immediately cease accessing such information; (ii) not copy, store, distribute, disclose, or make any use of it; (iii) promptly notify the Company at support@leaseaccounting.app; and (iv) permanently delete any copies. This obligation survives termination of these Terms of Service.

7. Data Protection

7.1. The Company's data processing activities are described in the Company's Privacy Policy, which can be found here: https://leaseaccounting.app/privacy (or https://zentreasury.com/privacy)

7.2. Where the Customer is a controller and the Company processes personal data on the Customer's behalf, the parties' relationship is governed by a data processing agreement (hereinafter "DPA") which is an annex to these Terms of Service, available at: https://zentreasury.com/dpa. The DPA is concluded with ZenTreasury Oy.

7.3. Upon written request by the Customer during the term of the Subscription, the Company shall make Customer Data available for export in a standard machine-readable format (such as CSV) within a reasonable timeframe. Upon termination and written request by the Customer within thirty (30) days, the Company shall provide such export and thereafter delete the Customer Data within thirty (30) days, except where retention is required by applicable law. If no request is made, Customer Data will be deleted within ninety (90) days of termination.

8. Limitation of Liability, Warranty

8.3. Some jurisdictions do not allow the exclusion or limitation of certain damages, so some or all of the exclusions and limitations in this section may not apply to the Customer.

8.4. The Service, material related to the Service, and any content, services, or features made available in conjunction with or through the Service are provided "as is" and "as available" without warranties of any kind either express or implied.

8.5. The Company and its affiliates do not warrant that the Service will be uninterrupted or error-free, that defects will be corrected, or that the Service is free of viruses or other harmful components.

8.6. The Company and its affiliates do not warrant or make any representations regarding the use or the results of the use of the Service in terms of correctness, accuracy, reliability, or otherwise.

8.7. The Service provides automated calculations and reports under applicable accounting standards. Outputs do not constitute professional accounting, audit, tax, or legal advice. The Customer is solely responsible for ensuring that its accounting treatment is appropriate for its specific circumstances and must consult qualified professionals where needed.

8.8. For Free Plan customers, the Company's aggregate liability under Section 8.2 shall in no event exceed one hundred euros (EUR 100).

8.9. Without limiting the generality of the foregoing, the Company shall not be liable for any loss or damage arising from reliance on outputs of Data Intelligence Features, including but not limited to document extraction results, benchmark comparisons, or AI-generated analytics. The Customer is responsible for verifying all AI-generated outputs before relying on them for business, accounting, or regulatory purposes.

9. Indemnity

9.1. The Customer agrees to defend, indemnify and hold harmless the Company and the Company's affiliates, and the Company's respective officers, directors, employees and agents, from and against any and all claims, damages, obligations, losses, liabilities, costs and expenses (including but not limited to attorney's fees) arising from: (i) the Customer's use of, or inability to use, the Service; (ii) the Customer's violation of the Terms of Service; (iii) the Customer's violation of any third-party right; and (iv) the Customer's data or content uploaded to the Service.

9.2. The Company shall defend, indemnify and hold harmless the Customer from and against third-party claims alleging that the Service infringes the intellectual property rights of a third party, provided the Customer promptly notifies the Company, grants the Company sole control of the defence and settlement, and provides reasonable cooperation. This obligation shall not apply where the alleged infringement arises from the Customer's modification of the Service, use in combination with third-party products not provided by the Company, or use in breach of these Terms of Service.

10. Service Level Agreement

10.1. For Paid Plan customers, the Company shall correct all errors within the Service reported by the Customer to the Company via the Company support portal or via email to support@leaseaccounting.app. If the Company deems that the error is not an error within the Service, then the Customer will be billed for the time Company has spent on investigating the cause of the error.

10.2. The Company will provide technical support on weekdays during the hours of 9:00 am through 5:00 pm Eastern European Summer Time (EEST) in the summer and Eastern European Time (EET) in the winter, with the exclusion of public holidays in Finland.

10.3. Free Plan customers do not receive support beyond self-service documentation.

11. Term and Termination

11.1. These Terms of Service become effective when the Customer creates an account. They remain in force as long as the Customer is using the Service or maintains an active account.

11.2. Free Plan: Either party may terminate the Customer's Free Plan account at any time for any reason. The Company may terminate inactive Free Plan accounts (no login for 12 consecutive months) without notice.

11.3. Monthly Paid Plans: The Customer may cancel at any time; cancellation takes effect at the end of the current billing period.

11.4. Annual Paid Plans: The Subscription will automatically renew unless the Customer cancels at least thirty (30) days before the end of the current annual period.

11.5. The Company may terminate these Terms of Service with immediate effect if: (i) the Customer violates Section 2.2 (duplicate accounts), Section 4.11 (prohibited conduct), or otherwise does not comply with these Terms of Service; (ii) the Customer does not pay overdue payments within 60 days after written request; or (iii) the Customer goes bankrupt or ceases its operation.

11.6. When these Terms of Service are terminated, the Customer: is not entitled to compensation for any made advance payments (except as provided in Section 3.4); and shall cease all use of the Service.

11.7. Upon termination, the Customer may request data export per Section 7.3.

11.8. Sections 1.4, 5, 6, 8, and 9 shall prevail and stay in force even after the termination of the Terms of Service.

12. Miscellaneous

12.1. Neither party shall be liable for any delay or failure to perform any obligation under these Terms of Service where the delay or failure results from any cause beyond the parties' reasonable control, including but not limited to acts of God, labour disputes or other industrial disturbances, epidemics, pandemics, electrical, telecommunications, hardware, software, or other utility failures, earthquakes, storms or other elements of nature, blockages, embargoes, riots, acts or orders of government, acts of terrorism, war, or changes in applicable laws. This applies also in circumstances where the subcontractor of the Company is subject to a force majeure event.

12.2. The Customer does not have the permission to surrender, transfer or sublicense these Terms of Service unless the Customer obtains prior written consent from the Company. The Company may assign these Terms of Service to an affiliate or in connection with a merger, acquisition, or sale of all or substantially all of its assets, upon notice to the Customer.

12.3. The Company may amend these Terms of Service. Material changes will be communicated to registered users at least thirty (30) days before taking effect. If the Customer does not agree to a material change, the Customer may terminate the account before the change takes effect.

12.4. The failure of either Party to exercise or enforce any right or provision of these Terms of Service shall not constitute a waiver of such right or provision.

12.5. The Customer agrees that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to the use of the Service or the Terms of Service must be filed within one (1) year after such claim or cause of action arose or be forever barred.

12.6. If any provision of these Terms of Service is found to be unenforceable or invalid, that provision will be limited or eliminated to the minimum extent necessary so that these Terms of Service will otherwise remain in full force and effect and enforceable.

12.7. The Customer agrees to allow the Company to use the Customer's name and logo on the Company's website, social media, and marketing materials. The Customer may withdraw this consent at any time by written notice.

12.8. These Terms of Service, together with the DPA, Privacy Policy, and Cookie Policy, constitute the entire agreement between the parties.

13. Governing Law and Disputes

13.1. These Terms of Service and the legal relationship between the Customer and the Company shall be governed by and construed and interpreted in accordance with the laws of Finland without regard to its principles and rules on conflict of laws.

13.2. Any dispute, arising out of or relating to the Terms of Service shall be finally settled by arbitration in accordance with the Arbitration Rules of the Finland Chamber of Commerce. The number of arbitrators shall be one (1). The seat of arbitration shall be Helsinki, Finland. The language of the arbitration shall be English. However, evidence may be submitted and witnesses may be heard in Finnish and Swedish, to the extent the arbitral tribunal deems it appropriate.