Terms of Service

1. Agreement

These Terms of Service ("Terms") constitute a binding agreement between you (or the organization you represent) and Remitloom, Inc. ("the Company," "we," "us," or "our"), a company organized under the laws of Illinois with its principal office at 233 South Wacker Drive, Suite 8400, Chicago, IL 60601. By accessing or using the Remitloom website (remitloom.com) or the reconciliation and bookkeeping automation platform (collectively, the "Service"), you agree to be bound by these Terms. If you do not agree, do not access or use the Service.

If you are using the Service on behalf of an organization, you represent that you have authority to bind that organization to these Terms, and "you" refers to that organization.

2. Description of Service

Remitloom provides AI-assisted bank reconciliation and bookkeeping automation for startup and SMB finance teams. The Service reads bank feed data and general ledger entries you authorize, runs nightly matching, surfaces exceptions, and generates audit trail records. We provide read-only connections to financial accounts you designate; we do not initiate transactions or move funds on your behalf.

The Service is a software tool to assist your finance team. You remain responsible for the accuracy of your financial records, the completeness of your accounting, and all regulatory and audit obligations applicable to your business. The Service does not constitute accounting, tax, or legal advice.

3. Account Registration

You must register for an account to use the platform. You agree to provide accurate registration information, maintain the security of your credentials, and notify us promptly at [email protected] if you believe your account has been compromised. You are responsible for all activity that occurs under your account.

The Company may require identity or organization verification before granting access to certain features.

4. Financial Data and Connections

To provide reconciliation services, you will authorize read-only access to designated bank accounts and accounting systems via OAuth or similar secure authorization protocols. You represent that you are authorized to grant this access. The Company uses your financial data solely to operate the reconciliation service on your behalf; we do not use it for any other purpose, and we do not use it to train AI models without your explicit written consent.

You may revoke connection authorizations at any time through your account settings or by contacting [email protected].

5. Acceptable Use

You agree to use the Service only for lawful purposes and in accordance with these Terms. You may not:

• use the Service to violate any law or regulation, including financial reporting or tax laws;
• attempt to gain unauthorized access to any part of the Service or its underlying infrastructure;
• introduce malicious code, conduct denial-of-service attacks, or interfere with other users;
• reverse engineer, decompile, or disassemble any part of the Service;
• resell, sublicense, or provide unauthorized access to the Service;
• submit false or misleading information that could impair the accuracy of reconciliation outputs.

6. Fees and Billing

Subscription fees are billed in advance for the selected plan period. You authorize us to charge the payment method on file at each renewal date. All fees are non-refundable except as required by applicable law or expressly stated in writing. We will provide reasonable advance notice of material fee changes. If you do not accept a fee change, you may cancel your subscription before the new rate takes effect.

7. Intellectual Property

The Service, including its software, algorithms, and content, is owned by the Company and protected by intellectual property laws. You retain ownership of the financial data you submit. You grant the Company a limited, non-exclusive license to process your data for the purpose of providing the Service.

Nothing in these Terms grants you a right to use the Remitloom name, logo, or other brand elements except as explicitly permitted in writing.

8. Disclaimers and Limitation of Liability

THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT. THE COMPANY DOES NOT WARRANT THAT THE SERVICE WILL BE ERROR-FREE, UNINTERRUPTED, OR THAT RECONCILIATION OUTPUTS WILL BE COMPLETE OR ACCURATE IN ALL CIRCUMSTANCES.

TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE COMPANY'S TOTAL LIABILITY FOR ANY CLAIMS ARISING UNDER THESE TERMS SHALL NOT EXCEED THE FEES YOU PAID TO THE COMPANY IN THE 12 MONTHS PRECEDING THE CLAIM. IN NO EVENT WILL THE COMPANY BE LIABLE FOR INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES.

9. Dispute Resolution and Arbitration

PLEASE READ THIS SECTION CAREFULLY. IT AFFECTS YOUR LEGAL RIGHTS AND INCLUDES AN ARBITRATION CLAUSE AND CLASS ACTION WAIVER.

9.1 Informal Resolution

Before initiating any formal proceeding, you agree to contact us at [email protected] describing the dispute and desired resolution. We will make a good-faith effort to resolve it within 30 days.

9.2 Binding Arbitration

If informal resolution fails, all disputes, claims, or controversies arising out of or relating to these Terms or the Service that cannot be resolved informally shall be finally resolved by binding arbitration administered by the American Arbitration Association ("AAA") under its Commercial Arbitration Rules. The arbitration shall be conducted in Illinois, USA. The arbitrator's award shall be final and binding and may be entered in any court of competent jurisdiction.

9.3 Class Action Waiver

YOU AND THE COMPANY EACH AGREE THAT CLAIMS MAY ONLY BE BROUGHT IN AN INDIVIDUAL CAPACITY AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE ACTION. THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON'S CLAIMS.

9.4 Exceptions

Nothing in this section prevents either party from seeking emergency injunctive relief in a court of competent jurisdiction to prevent irreparable harm pending arbitration.

10. Governing Law

These Terms are governed by and construed in accordance with the laws of the State of Illinois, without regard to its conflict of law provisions. For any claims not subject to arbitration, you consent to the exclusive jurisdiction of the state and federal courts located in Illinois.

11. Termination

You may close your account at any time through your account settings or by emailing [email protected]. We may suspend or terminate access to the Service for violation of these Terms, non-payment, or as required by law. Upon termination, your right to access the Service ends. We will retain and delete your data as described in our Privacy Policy.

12. Changes to Terms

We may update these Terms from time to time. Material changes will be communicated by email or via a notice on the Service at least 30 days before they take effect. Continued use of the Service after the effective date constitutes acceptance of the revised Terms. If you do not accept the revised Terms, you must stop using the Service and close your account before the effective date.

13. Contact

Questions about these Terms may be directed to: