General Terms and Conditions Applicable to the Kaunt Platform and Related Services

Thank you for using Kaunt – we are passionate about delivering AI for Finance.

These General Terms and Conditions (“Terms”) apply to Kaunt and all related solutions and services between Kaunt A/S, CVR-nr. 40 86 58 88, and (“The Customer”).

Kaunt is a SaaS AI Powered Financial Management Platform.  

By using Kaunt™ and related solutions and services, The Customer agrees to the following Terms. 

 

1. The License Granted 

The subscription Agreement between The Customer and Kaunt A/S specifies the Kaunt solutions and services which The Customer has subscribed to.

Kaunt A/S owns all title and intellectual property rights in and to the Kaunt platform, solutions, and services.

The Customer’s use of Kaunt is based on a subscription model under which Kaunt A/S grants The Customer a limited, non-exclusive, non-transferable right to access and use Kaunt in the subscription period that has been agreed on and paid for. 

Rights of any kind regarding Kaunt not explicitly granted to The Customer under these Terms are reserved by Kaunt A/S. 

 

2. Restrictions 

The Customer may not assign, sell, sub-license, rent, lease or lend the Kaunt license to any other entity or third party.

The Customer is not entitled to reverse engineer, decompile, disassemble, duplicate or copy Kaunt or any parts hereof.

 

3. Intellectual Property Rights 

The Customer accepts that any right, title and interest in and to Kaunt and related services, its codes, interfaces, other documentation, data (excluding the The Customer’s Data), trademarks and other related intellectual property rights and materials (“IPR”) are and shall at all times remain the sole and exclusive property of Kaunt A/S. 

Except for the right to use Kaunt, as explicitly provided herein, these Terms do not, neither directly nor indirectly, grant The Customer ownership or rights of any kind to patents, copyrights, database rights, trade secrets or trademarks belonging to Kaunt.

 

4. Customer Data and Confidentiality

Kaunt A/S is obligated to treat all customer data confidentially and will not disclose any such data to third parties (except The Customer’s employees and other professional advisors engaged by The Customer) without prior consent of The Customer. 

Customer data will be used solely in connection with the delivery and development of Kaunt and related services.

Within 3 months of termination of the subscription agreement, Kaunt A/S has the right, and upon request the obligation, to delete any customer data that may be held by Kaunt A/S.

Data is deleted free of charge.

Data in generic or anonymous form is not considered customer data.

 

5. Development of Kaunt

Kaunt A/S is entitled to continuously improving and developing Kaunt and the related services.

As part of the development, Kaunt A/S is entitled to make updates and changes to the Kaunt solution and related services subscribed to by The Customer. 

The Customer will at all times access the latest available version of the Kaunt solution and service subscribed to. 

Kaunt A/S intends to develop and expand the kaunt platform, including new solutions, services and features. Such new solutions, services and features may come with individual terms and pricing therefore not being included in The Customer’s current subscription. 

The Customer is free to decide whether to expand the subscription to gain access to new and additional solutions, services and features. 

 

6. Customer engagement

The Customer is obligated, in collaboration with and upon advice from Kaunt A/S, to contribute to optimizing the organizational and operational processes concerned with implementing and using the Kaunt solution subscribed to, so that the business effect of Kaunt is optimized.

The Customer is available as a public reference in relation to the Kaunt solution subscribed to, and Kaunt A/S is free to use The Customer’s name for reference.

 

7. Duration and Termination

Any subscription agreement between The Customer and Kaunt A/S will continue until terminated by either party via a written notice of six months, extending up until the end of the calendar month in which the six month period ends.   

 

8. Change of Terms

Kaunt A/S may modify the Terms. 

Changes enter into force 6 month after such changes have been posted on the Kaunt website. 

Use of Kaunt and related services after such change of Terms constitutes acceptance of such changed terms. 

 

9. Accessibility and performance of Kaunt

Kaunt A/S intends to use all commercially reasonable efforts to optimize the availability and business effect of Kaunt. 

Kaunt will not be available when system back-up, updating or other maintenance is carried out, or in case of any unforeseen incident beyond the control of Kaunts A/S, including – but not limited to – failure on the part of subcontractors, Internet network failures, lack of access to Customer data and network or any force majeure event.

 

9. Liability

Kaunt A/S strives to deliver high performing Financial Software but cannot warrant that Kaunt and related services will always be 100% uninterrupted or free of error.

The Customer accepts sole and complete responsibility for the selection of Kaunt and related services to achieve The Customer’s intended business purposes, and The Customer holds the sole responsibility for running its business in compliance with all applicable laws, rules, and regulations.

To the maximum extent permitted by applicable law, Kaunt A/S shall in no event stand liable for any loss or damage whatsoever.

The limitation of liability applies to all types of negligence and liability, including product liability, as well as all type of losses, including indirect losses, lost profits, loss of data or damage to data.

Kaunt A/S is not liable for the actions of sub-contractors.

The maximum aggregate liability of Kaunt A/S upon any claims whatsoever, for one or more incidents, are limited to an amount corresponding to the total subscription fee paid by The Customer to Kaunt A/S in the last 6 months prior to the point in time when the claim is asserted. 

 

10. Transfer and sub-contractors

Kaunt A/S has the right to assign its rights and obligations towards The Customer in part or in whole to a third party.

The Customer agrees that Kaunt A/S is entitled to use sub-contractors.

 

11. VAT and price regulation

All amounts are exclusive of VAT and indirect taxes which will be added as required by law. 

On January 1st of each calendar year Kaunt A/S shall be entitled to automatically increase all fees and prices by 3%.

 

12. Governing Law and Venue

Kaunt A/S services shall be governed exclusively by and interpreted in accordance with Danish civil laws. Any dispute arising out of or in connection with Kaunt A/S services shall be settled by the competent court in Denmark.