These Terms of Service ("Terms") govern your access to and use of Loanbooq, a software-as-a-service product ("Service") operated by Generator Financial Services (Pty) Ltd, registration number [REGISTRATION NUMBER], a private company incorporated in South Africa ("Company", "we", "us", or "our").
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.
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.
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 our payment provider, Paddle ([or current payment provider]), in accordance with their terms.
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.
8.1 The Service, including all software, designs, text, graphics, and underlying technology, is owned by or licensed to Generator Financial Services (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 support@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 30 days after termination, after which it may be permanently deleted. You may request an export of your data before termination.
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).
11.1 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.
11.2 We do not warrant that the Service will be uninterrupted, error-free, or free from viruses or other harmful components.
11.3 Calculation results produced by the Service are based on the data you provide and the calculation methods you select. You remain responsible for verifying the accuracy of all outputs before acting on them or posting them to Xero.
12.1 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.
12.2 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.
12.3 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.
You agree to indemnify and hold harmless Generator Financial Services (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.
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. Continued use of the Service after changes take effect constitutes acceptance of the updated Terms.
15.1 These Terms are governed exclusively by the laws of the Republic of South Africa.
15.2 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 Financial Services (Pty) Ltd is registered.
15.3 Nothing in this clause prevents either party from seeking urgent interim relief from a competent court.
16.1 Entire agreement: These Terms, together with the Privacy Policy and Refund Policy, constitute the entire agreement between you and us regarding the Service.
16.2 Severability: If any provision of these Terms is found to be unenforceable, the remaining provisions continue in full force.
16.3 Waiver: Failure to enforce any provision of these Terms does not constitute a waiver of that right.
16.4 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: