Terms of Service for Novat AI

Effective Date: April 15th, 2025

This document outlines the terms and conditions (the "Terms") governing your access to and use of the services provided by Novat AI, including any related software, content, and functionalities (collectively, the "Services"). These Terms constitute a legally binding agreement between you and Novat AI, located at 40 Exchange Place, 10005 New York, NY. By accessing or using any part of the Services, you acknowledge that you have read, understood, and agree to be bound by these Terms, as well as Novat AI's Privacy Policy and any other guidelines or policies published by Novat AI from time to time.

Acceptance of Terms and User Eligibility

Your continued access to or use of the Services following the effective date signifies your ongoing acceptance of these Terms. Novat AI may periodically update these Terms, and such updates will be effective upon posting on Novat AI's website or through other forms of notification. By continuing to use the Services after such changes are posted, you agree to be bound by the modified Terms. The Services are intended for users who are at least 18 years of age. By accessing and using the Services, you represent and warrant that you are 18 years of age or older and possess the legal capacity to enter into this agreement. This age restriction is in place considering the financial nature of the services provided by Novat AI. While many online services set a minimum age of 13 , Novat AI has determined that a higher age limit is more appropriate for its specific offerings.

Account Registration and User Responsibilities

To access certain features of the Services, you may be required to register for an account. Registration will be conducted via a valid email address, which you will be required to provide during the sign-up process. You are solely responsible for all activity that occurs under your account and for maintaining the confidentiality and security of your password. You must notify Novat AI immediately of any unauthorized use of your account or any other breach of security. You are responsible for providing accurate, complete, and current information during the registration process and while using the Services, particularly concerning your financial data. You agree not to use usernames that belong to others, are not lawfully available, infringe upon the trademark or other rights of any third party, or are offensive, vulgar, or obscene.

User Conduct Guidelines

You agree to use the Services only for lawful purposes and in accordance with these Terms. You are strictly prohibited from uploading any malicious software, viruses, worms, or any other harmful code that may disrupt, damage, or gain unauthorized access to the Services, Novat AI's systems, or the data of other users. You are solely responsible for the accuracy, legality, reliability, and appropriateness of all data, information, and content you upload, submit, or otherwise transmit through the Services. Furthermore, you are prohibited from engaging in any of the following activities, which are drawn from standard practices for online services : violating any applicable laws, regulations, or third-party rights; exploiting, harming, or attempting to exploit or harm minors in any way; sending or facilitating the transmission of unsolicited or unauthorized advertising, marketing, or promotional material (i.e., spam); impersonating or attempting to impersonate Novat AI, its employees, another user, or any other person or entity; infringing upon any intellectual property rights, including copyrights, trademarks, or patents; interfering with or disrupting the operation of the Services or the servers and networks connected to the Services; attempting to gain unauthorized access to any portion of the Services, other users' accounts, or Novat AI's systems or networks; engaging in any conduct that restricts or inhibits anyone's use or enjoyment of the Services, or which, as determined by Novat AI, could harm Novat AI or its users.

Intellectual Property Rights

Novat AI retains all right, title, and interest in and to the Services, including but not limited to its software, trademarks, service marks, graphics, logos, design, features, and functionality (excluding user-uploaded data). These elements are protected by copyright, trademark, and other intellectual property laws. Your use of the Services does not transfer any ownership or intellectual property rights in the Services or any part thereof to you. You retain all rights, title, and interest in and to your uploaded data. By uploading data to the Services, you grant Novat AI a non-exclusive, worldwide, royalty-free license to access, process, store, and use your uploaded data solely for the purpose of providing the Services to you [prompt]. This license is necessary for Novat AI to perform its core functions of organizing and categorizing your financial information.

Novat AI respects the intellectual property rights of others and expects its users to do the same. Novat AI has adopted a Copyright Policy to address claims of copyright infringement. If you believe that any content accessible through the Services infringes your copyright, you may submit a notification of claimed infringement to Novat AI's designated Copyright Agent, as detailed in the Copyright Policy. This policy outlines the procedure for submitting a claim, including the information required under the Digital Millennium Copyright Act (DMCA). You represent and warrant that you own or have the necessary rights and permissions to upload all content to the Services and that such content does not infringe upon the copyrights, trademarks, or other intellectual property rights of any third party. You acknowledge that you may be held liable for damages, including costs and attorneys' fees, for misrepresenting that content infringes your copyright.

Marketing and Publicity

By registering for and using the Services, you grant Novat AI a non-exclusive, worldwide, royalty-free license to use your business name, logo, and trademarks for marketing and promotional purposes, including but not limited to listing you as a user on Novat AI's website and in marketing materials. This allows Novat AI to showcase its user base and enhance its promotional efforts. If you prefer not to allow such use, you may notify Novat AI in writing at any time, and Novat AI will make commercially reasonable efforts to promptly cease using your name and logo in future marketing materials. This provision ensures that while Novat AI can leverage user information for marketing, users retain control over their brand representation.

Payment Terms, Subscriptions, and Refunds

Currently, Novat AI's services are provided without a subscription fee. However, Novat AI reserves the right to introduce subscription plans or fees for certain features or the Services as a whole in the future. Should such changes occur, Novat AI will provide users with prior notice, and the terms governing payment, subscriptions, free trials, fee changes, and refunds will be outlined in a separate agreement or updated Terms of Service. Users will have the option to agree to these new terms or discontinue using the affected services.

Service Limitations and Disclaimers

The Services are provided on an "as is" and "as available" basis, without any warranties of any kind, either express or implied. To the fullest extent permitted by applicable law, Novat AI expressly disclaims all warranties, including but not limited to warranties of merchantability, fitness for a particular purpose, non-infringement, and any warranties arising out of course of dealing or usage of trade. Novat AI does not warrant that the Services will be uninterrupted, error-free, secure, or that all defects will be corrected. Given that the Services are designed to process and categorize financial information based on user-uploaded data, Novat AI makes no guarantees regarding the accuracy, completeness, or reliability of the output or analysis provided. You acknowledge and agree that you are solely responsible for verifying the accuracy of the financial information processed by the Services. Furthermore, Novat AI shall not be liable for any service interruptions, downtime, or technical malfunctions that may occur for reasons including but not limited to maintenance, updates, system failures, or events beyond Novat AI's reasonable control. Novat AI reserves the right to modify, suspend, or discontinue the Services (or any part thereof) at any time, with or without notice.

Limitation of Liability

To the maximum extent permitted by applicable law, in no event shall Novat AI, nor its affiliates, directors, officers, employees, agents, suppliers, or licensors, be liable for any indirect, incidental, special, consequential, or punitive damages (including, without limitation, damages for loss of profits, data, use, goodwill, or other intangible losses) arising out of or relating to your access to or use of, or your inability to access or use, the Services, whether based on warranty, contract, tort (including negligence), statute, or any other legal theory, and whether or not Novat AI has been informed of the possibility of such damage. This limitation of liability applies to, but is not limited to, damages resulting from interruption of use or loss or corruption of data. In no event shall Novat AI's aggregate liability to you for all claims arising out of or relating to the Services exceed the total amount of fees, if any, paid by you to Novat AI under this Agreement during the twelve (12) month period immediately preceding the event giving rise to such liability. This limitation reflects a fair allocation of risk and is a fundamental element of the agreement between you and Novat AI.

Indemnification Clause

You agree to indemnify, defend, and hold harmless Novat AI, its affiliates, directors, officers, employees, and agents from and against any and all losses, liabilities, demands, damages, costs, claims, and expenses, including reasonable attorneys' fees, arising out of or related to your use of the Services, your breach of these Terms, your violation of any law or the rights of a third party, or your uploading of any malicious software or inaccurate data. This indemnification obligation will survive the termination of these Terms and your use of the Services. You agree to cooperate fully with Novat AI in the defense of any such claim.

Termination of Service

Novat AI reserves the right to terminate or suspend your access to all or any part of the Services at any time, with or without cause, with or without notice, effective immediately. Such reasons for termination may include, but are not limited to, your breach of these Terms, your engagement in prohibited conduct, or at Novat AI's sole discretion. You may terminate your account and these Terms at any time by simply discontinuing your use of the Services. Upon termination, your right to access and use the Services will immediately cease. All provisions of these Terms which by their nature should survive termination, including but not limited to provisions regarding intellectual property, disclaimers, indemnity, and limitations of liability, shall survive such termination.

Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the State of New York, U.S.A., excluding its conflict of law provisions. You agree that the state and federal courts located in New York, NY, shall have exclusive jurisdiction to hear and determine any dispute arising out of or relating to these Terms or the Services. Novat AI may consider resolving disputes through arbitration as an alternative to litigation. Except for claims for injunctive or equitable relief or claims regarding intellectual property rights, any dispute arising under this Agreement may be finally settled in accordance with the rules of the American Arbitration Association by one arbitrator appointed in accordance with such rules. The arbitration shall take place in New York, NY, in the English language, and the arbitral decision may be enforced in any court of competent jurisdiction. The prevailing party in any action or proceeding to enforce this Agreement shall be entitled to costs and attorneys' fees.

Amendments to Terms of Service

Novat AI reserves the right to modify or amend these Terms at any time at its sole discretion. Any changes or updates will be effective upon posting the revised Terms on Novat AI's website or by providing notice to you through other means, such as email. Your continued use of the Services after the effective date of any such changes will constitute your acceptance of the revised Terms. It is your responsibility to review the Terms periodically for any updates or modifications. If you do not agree to the modified Terms, you must discontinue your use of the Services.

Miscellaneous

These Terms constitute the entire agreement between you and Novat AI concerning the subject matter hereof and supersede all prior or contemporaneous communications and proposals, whether oral or written. If any provision of these Terms is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall remain in full force and effect. You may not assign your rights or obligations under these Terms without the prior written consent of Novat AI. Novat AI may assign its rights and obligations under these Terms without your consent. The failure of Novat AI to exercise or enforce any right or provision of these Terms shall not constitute a waiver of such right or provision. These Terms were originally written in English (US). In the event of a conflict between a translated version and the English version, the English version will control.

Contact Information

If you have any questions or concerns regarding these Terms of Service, please contact Novat AI at the address provided above or via email at sophie@novat.ai.