Terms of Service

Effective Date: April 15, 2026  |  Last Updated: April 15, 2026

These Terms of Service ("Terms") govern your access to and use of the Smalt AI platform, products, and services (the "Service") provided by Smalt AI PLT ("Smalt AI", "we", "our", or "us"). By accessing or using the Service, you agree to be bound by these Terms.

1. Definitions

• "Customer" or "you" means the individual or entity accessing the Service.
• "User" means any individual authorised by the Customer to use the Service.
• "Customer Data" means any data, content, files, or information uploaded, submitted, or generated by you through the Service.
• "Output" means any content generated by the AI in response to your inputs.
• "Subscription" means the paid plan you have selected.

2. Account Registration and Access

1. You must provide accurate and complete registration information.
2. You are responsible for maintaining the security of your account credentials.
3. You must promptly notify us of any unauthorised access to your account.
4. If you are registering on behalf of an organisation, you represent that you have the authority to bind that organisation to these Terms.
5. You must be at least 18 years of age to use the Service.

3. Use of the Service

3.1 Licence Grant

Subject to these Terms and your subscription, we grant you a limited, non-exclusive, non-transferable, revocable licence to access and use the Service for your internal business purposes.

3.2 Permitted Use

You may use the Service to:

• Generate financial models, analyses, and business documents
• Conduct AI-assisted research and productivity tasks
• Integrate the Service with your existing workflows via supported APIs
• Use Outputs for your internal and external business purposes

3.3 Restrictions

You must not:

• Reverse engineer, decompile, or attempt to extract the source code of the Service
• Resell, sublicence, or redistribute the Service without written permission
• Use the Service to develop a competing product
• Circumvent usage limits, rate limits, or security measures
• Use the Service in any way that violates applicable law or our Acceptable Use Policy
• Transmit malware, viruses, or other harmful code
• Attempt to access other customers' data or accounts

4. Ownership and Intellectual Property

4.1 Your Data

4.2 AI Outputs

• You own the Outputs generated through your use of the Service, subject to applicable law.
• You are responsible for reviewing Outputs before use. AI-generated content may contain errors or inaccuracies.
• Outputs are not guaranteed to be unique. Other users may receive similar or identical outputs from similar inputs.

4.3 Our Intellectual Property

Smalt AI retains all rights to the Service, including its software, algorithms, models, user interface, branding, and documentation. These Terms do not grant you any rights to our intellectual property beyond the limited licence in Section 3.1.

4.4 Feedback

If you provide feedback, suggestions, or ideas about the Service, we may use them without restriction or compensation to you.

5. Data Use and Privacy

• We process your data in accordance with our Privacy Policy and, where applicable, our Data Processing Agreement (DPA).
• No model training: We do not use your Customer Data to train AI models.
• We may use anonymised, aggregated usage data to improve the Service.

6. Subscription and Payment

6.1 Plans and Billing

• The Service is offered on a subscription basis as described on our pricing page.
• Subscriptions renew automatically unless cancelled before the renewal date.
• Prices are exclusive of applicable taxes unless stated otherwise.

6.2 Free Trials

We may offer free trials at our discretion. At the end of a trial, your subscription will convert to a paid plan unless cancelled.

6.3 Refunds

Subscription fees are generally non-refundable. If you believe you are entitled to a refund, contact us at support@smaltai.com.

6.4 Price Changes

We may change pricing with at least 30 days' written notice. Price changes take effect at the start of your next billing cycle.

7. Service Availability and Support

• We aim to maintain high availability but do not guarantee uninterrupted access. See our SLA for uptime commitments.
• We may perform scheduled maintenance with reasonable advance notice.
• Support is provided according to your subscription tier as described in our support documentation.

8. Disclaimers

9. Limitation of Liability

• To the maximum extent permitted by law, Smalt AI's total liability for any claims arising from these Terms or the Service shall not exceed the fees you paid in the 12 months preceding the claim.
• We shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, revenue, data, or business opportunities.
• These limitations apply regardless of the theory of liability (contract, tort, strict liability, or otherwise).

10. Indemnification

You agree to indemnify and hold harmless Smalt AI, its officers, directors, employees, and agents from any claims, damages, losses, or expenses (including reasonable legal fees) arising from:

• Your use of the Service in violation of these Terms
• Your violation of any applicable law or third-party rights
• Your Customer Data

11. Termination

• You may cancel your subscription at any time through your account settings.
• We may suspend or terminate your access if you breach these Terms, with notice where practicable.
• Upon termination, your right to use the Service ceases immediately.
• Data export: You may request an export of your Customer Data within 30 days of termination. After 30 days, we will delete your data in accordance with our Privacy Policy.

12. Changes to These Terms

We may modify these Terms at any time. We will provide at least 30 days' notice of material changes via email or in-app notification. Continued use of the Service after the effective date of changes constitutes acceptance.

13. Governing Law and Disputes

• These Terms are governed by the laws of England and Wales.
• Any disputes shall be resolved in the courts of England and Wales.
• For enterprise customers, alternative dispute resolution may be agreed upon in a separate agreement.

14. General Provisions

• Entire Agreement: These Terms, together with the Privacy Policy, AUP, and any applicable DPA or MSA, constitute the entire agreement between you and Smalt AI.
• Severability: If any provision is found unenforceable, the remaining provisions continue in effect.
• Waiver: Failure to enforce any provision does not constitute a waiver.
• Assignment: You may not assign these Terms without our consent. We may assign our rights and obligations in connection with a merger or acquisition.
• Force Majeure: Neither party is liable for delays caused by events beyond reasonable control.

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