These Terms of Service ("Terms") govern your access to and use of Loanbooq, a software-as-a-service product ("Service") operated by Generator Software Holdings (Pty) Ltd, registration number 2025/826175/07, a private company incorporated in South Africa ("Company", "we", "us", or "our").
By accepting these Terms when you sign in, or by accessing or using the Service, you agree to be bound by these Terms and our Privacy Policy. If you do not agree, you may not use the Service. We record which version of these Terms each user accepted and when.
These Terms are governed by the laws of the Republic of South Africa, including the Electronic Communications and Transactions Act 25 of 2002 (ECTA) and the Consumer Protection Act 68 of 2008 (CPA).
As required by section 43 of ECTA, the following information is provided:
Loanbooq is a cloud-based software application that enables accounting professionals, financial service providers (FSPs), and businesses to:
The Service is a productivity tool for accounting software users. It does not constitute financial advice, credit provision, or any regulated financial service under the Financial Advisory and Intermediary Services Act 37 of 2002 (FAIS) or the National Credit Act 34 of 2005 (NCA).
3.1 To use the Service, you must create an account by authenticating through your Xero account via OAuth 2.0. You must have a valid, active Xero subscription to use the Service.
3.2 You are responsible for maintaining the confidentiality of your account credentials and for all activity that occurs under your account.
3.3 You must provide accurate and complete information during account setup, including your company name, billing email address, and VAT number if applicable.
3.4 You must be at least 18 years old and have the legal authority to enter into these Terms on behalf of yourself or your organisation.
3.5 The person who creates an account accepts these Terms on behalf of the organisation that account is used for, and that organisation is bound by them. An account owner may invite colleagues as members of the account. Each member must accept these Terms when they first sign in, and the account owner is responsible for the people they invite and for everything done under the account.
You agree to use the Service only for lawful purposes and in accordance with these Terms. You must not:
5.1 Access to the Service requires a paid subscription. Subscription fees, billing cycles, and pricing are set out on our pricing page and confirmed at checkout.
5.2 Subscriptions are billed in advance on a monthly basis. Payment is processed by a third-party payment provider, named at checkout, in accordance with that provider's terms. We do not store your card details.
5.3 All prices are exclusive of Value Added Tax (VAT). VAT at the applicable South African rate will be added where required by law.
5.4 Failure to pay subscription fees may result in suspension or termination of your account in accordance with clause 9.
6.1 We may, at our discretion, offer free trial or beta access to the Service for a specified period.
6.2 Free trial and beta access may be terminated or converted to a paid subscription at any time with reasonable notice.
6.3 We reserve the right to modify features during a trial or beta period without notice.
7.1 The Service integrates with Xero via Xero's published API. Your use of Xero is governed by Xero's own terms of service and privacy policy, which are independent of these Terms.
7.2 We are not responsible for any changes to Xero's API, service interruptions, or data access restrictions that may affect your use of Loanbooq.
7.3 By connecting your Xero account, you authorise us to access and process your Xero data solely for the purpose of providing the Service.
7.4 You may connect only Xero organisations that you own or that you are authorised to act for. If you are an accountant, bookkeeper or other adviser acting for clients, you warrant that each client has authorised you to connect its Xero organisation to the Service and to calculate and post interest journals to its books, and you remain responsible to your clients for that work. We may rely on this warranty without further enquiry.
8.1 The Service, including all software, designs, text, graphics, and underlying technology, is owned by or licensed to Generator Software Holdings (Pty) Ltd and is protected by South African and international intellectual property laws.
8.2 These Terms do not grant you any ownership rights in the Service. You are granted a limited, non-exclusive, non-transferable licence to use the Service for your internal business purposes during the subscription period.
8.3 Your data remains your property. We claim no ownership over the data you input into or generate through the Service.
9.1 You may cancel your subscription at any time by contacting us at hello@loanbooq.com or through the billing settings in the Service. Cancellation takes effect at the end of the current billing period.
9.2 We may suspend or terminate your account immediately and without notice if you:
9.3 Upon termination, your right to access the Service ceases. We will retain your data for 90 days after termination, after which it may be permanently deleted. You may request an export of your data before termination. Loan documents you have stored in the Service (clause 10.6) are kept for the same 90 days so that you can ask for a copy, and are then deleted; copies held in our backups are removed within a further 30 days. Records we must keep by law, such as billing records, are kept for as long as the law requires. Journals already posted to Xero remain in Xero; termination does not alter them.
10.1 Our collection and use of your personal information is governed by our Privacy Policy, which forms part of these Terms. By using the Service, you consent to the processing of your personal information as described in the Privacy Policy in accordance with the Protection of Personal Information Act 4 of 2013 (POPIA).
10.2 Information about other people. The Service also holds personal information about people other than you, such as your borrowers, lenders, guarantors and clients: in the loans and transactions it reads from your Xero organisation, in what you enter, in reports you create or email, and in loan documents you store. For that information you are the responsible party and we are your operator, as those terms are defined in POPIA, and clauses 10.3 to 10.6 are the written agreement between us that section 21 of POPIA requires.
10.3 What we do as your operator. We will:
10.4 We do not open, read or use the contents of loan documents you store, except where you ask us to for support, where it is necessary to keep the Service secure and working, or where the law requires it.
10.5 What you are responsible for. You warrant that you are entitled to give us every piece of information and every document you put into the Service; that you have a lawful basis under POPIA, and any consent you need, for us to process it on your behalf; and that you have told the people it is about whatever the law requires you to tell them, including that their information may be held by your service providers. You will put into the Service only what you need for the loans you manage through it. You remain responsible to those people for your own processing of their information, and clause 14 applies to any claim arising from information you were not entitled to share with us.
10.6 Loan documents. You may keep loan agreements and related documents with a loan in the Service. They are stored encrypted on our servers in South Africa, only the people in your Loanbooq account can open them, and you can delete them at any time. Deleting a loan or your account deletes its documents. The Service is not a legal archive or a document management system: keep the original signed agreements, and any copies the law or your own policies require, in your own records.
11.1 The Service calculates interest, amortisation schedules and journal amounts from the information you give it (the loan accounts you select, the rates, spreads, interest methods, accrual timing, start dates, limits and dates you enter) and from the balances and transactions it reads from your Xero organisation. If that information is wrong, incomplete or out of date, the results will be wrong too. You are responsible for the accuracy and completeness of everything you enter and of the books the Service reads.
11.2 You are responsible for checking every figure the Service produces before you rely on it, and before it is posted to Xero, including the results of any amendment or void. The Service is a tool for accounting professionals; it does not replace review by a suitably qualified person, and it does not know your clients, their agreements or their tax positions.
11.3 The Service can post journals to Xero as drafts, for approval in Xero, or as approved entries, which are written directly into the books. If you choose to post as approved you accept the risk that comes with skipping a review step in Xero.
11.4 The Service may notify you of changes to the South African Reserve Bank's prime lending rate, drawn from public sources. These notices are a convenience. We do not warrant that they are timely, complete or accurate, and whether and when to apply any rate change to your loans is your decision alone.
11.5 Nothing produced by the Service is accounting, tax, legal or financial advice. You will be asked to confirm that you understand this clause when you first sign in and whenever it changes.
11.6 If you switch on automatic posting for an organisation, the Service will, on the day each month you choose, post the interest for the month that has ended for the organisation's loans without anyone clicking Post, as drafts or as approved journals according to your setting, and will record a summary of each run in the Service (and, where you have given addresses and email is enabled, email it to them). Only loans whose calculation raises no warning are posted; the rest are listed in the summary for you to handle. Your responsibility under this clause is unchanged: you are expected to read each summary, to review the journals (before approving them, where they are posted as drafts), and to amend or void anything that is wrong. Choosing to post as approved journals, or to approve drafts automatically after a number of days, is your decision and carries the risk described in clause 11.3.
12.1 The Service is provided "as is" and "as available". To the maximum extent permitted by South African law, we exclude all implied warranties, representations, and conditions.
12.2 We do not warrant that the Service will be uninterrupted, error-free, or free from viruses or other harmful components.
12.3 Calculation results are subject to clause 11. We do not warrant that any figure produced by the Service is correct for your purposes.
13.1 To the maximum extent permitted by applicable law, our total liability to you for any claim arising from or relating to these Terms or the Service shall not exceed the total subscription fees paid by you in the three months preceding the claim.
13.2 We shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or goodwill, even if advised of the possibility of such damages.
13.3 Nothing in these Terms excludes or limits liability for death or personal injury caused by our negligence, fraud, or any liability that cannot be excluded under South African law.
13.4 Without limiting clauses 13.1 and 13.2, we are not liable for any loss arising from information you entered or failed to enter, from the state of your Xero books, from any figure you did not check before relying on it or posting it (clause 11), from any journal posted as approved, from any amendment or void you instructed, from any decision to apply or not apply a reference rate change, or from Xero's availability or conduct (clause 7).
You agree to indemnify and hold harmless Generator Software Holdings (Pty) Ltd and its directors, employees, and agents from any claims, losses, or damages arising from your use of the Service, your breach of these Terms, or your violation of any third-party rights, including any claim by a client or other third party arising from journals you calculated, posted, amended or voided through the Service or from an organisation you connected without authority.
We may update these Terms from time to time. We will notify you of material changes by email or by displaying a notice in the Service at least 30 days before the changes take effect. When the Terms change you will be asked to read and accept the new version the next time you sign in, and you cannot use the Service until you do. Each version is identified by its date at the top of this page.
16.1 These Terms are governed exclusively by the laws of the Republic of South Africa.
16.2 Any dispute arising from or relating to these Terms shall first be referred to good-faith negotiation between the parties. If unresolved within 30 days, the dispute shall be submitted to the jurisdiction of the Magistrate's Court or High Court of South Africa, as appropriate, in the jurisdiction where Generator Software Holdings (Pty) Ltd is registered.
16.3 Nothing in this clause prevents either party from seeking urgent interim relief from a competent court.
17.1 Entire agreement: These Terms, together with the Privacy Policy and Refund Policy, constitute the entire agreement between you and us regarding the Service.
17.2 Severability: If any provision of these Terms is found to be unenforceable, the remaining provisions continue in full force.
17.3 Waiver: Failure to enforce any provision of these Terms does not constitute a waiver of that right.
17.4 Assignment: You may not assign your rights or obligations under these Terms without our written consent. We may assign our rights in connection with a merger, acquisition, or sale of assets.
For any questions about these Terms, please contact: