Terms of Use

These general terms (“the Terms”) apply to the use of the Software (depending on the subscription solution covered by the Agreement) and to &Money’s provision of the Services. By using all or any part of the Software or the Services, the Customer accepts the Terms. The Terms also apply to the use of the Software during any free trial period or similar.

1 - Right of Use and Subscription

1.1: During the term of the Agreement, the Customer is granted a limited, non-transferable and non-exclusive right to use the Software for the purposes and subject to the limitations set out in the Terms, as well as any other agreements entered into between the Customer and &Money.

1.2: The Customer’s right of use includes the right to access the Software for (i) all of the Customer’s employees, and (ii) the Customer’s auditors, bookkeepers, financial advisors and temporary staff, provided that such parties are not competitors of &Money. The Customer may also obtain the right to allow employees of the Customer’s affiliated group companies or members of its board to use the Software in accordance with the granted right of use, provided that the Customer ensures that such affiliated group companies accept the Terms in writing. The Customer is otherwise not entitled to grant access to the Software to any third party.

1.3: The Customer is fully responsible for all users to whom the Customer grants access to the Software, including ensuring that such users comply with the Terms.

1.4: The Customer may not reverse engineer, decompile or disassemble the Software, except to the extent permitted by mandatory applicable law.

1.5: If a setup and/or implementation fee applies to the selected subscription, such fee will be invoiced immediately following the conclusion of the Agreement.

1.6: If the Customer has purchased services from a third-party provider via the Software’s marketplace under the selected subscription, fees for such services may, in certain cases, be invoiced via the Software rather than by the third-party provider.

2 - Intellectual Property Rights

2.1: &Money retains all intellectual property rights in and to the Software, including, but not limited to, applications, websites, code (including source code), design, images, illustrations, animations, video, audio, music, text and “applets” incorporated in the Software, as well as any documentation relating to the Software. All copies of the Software are owned by &Money or its relevant subcontractors. Nothing in the Agreement or the Terms shall be construed as a transfer of any intellectual property rights to the Customer.

2.2: The Customer is not entitled to copy all or any part of the documentation relating to the Software.

2.3: Data entered by the Customer into the Software remains the property of the Customer, and the Customer is therefore responsible for ensuring that the storage and documentation of such data comply with applicable law at all times. &Money is entitled to anonymise and subsequently use data that &Money obtains in connection with the performance of the Agreement, including, for example, data processed in the Software or received in connection with support and/or consultancy services provided to the Customer, for the purpose of compiling statistics on the use of the Software as well as testing, developing and correcting errors in the Software.

3 - Price and Payment Terms

3.1: All prices are stated in Danish kroner (DKK), exclusive of VAT and other public taxes and duties. Price changes will be notified in the same manner as changes to the Terms, cf. clause 5.4.

3.2: &Money invoices the Customer in advance for each commenced calendar month following the start of the subscription (i.e. after the expiry of any free trial period). Upon termination of the subscription, &Money shall have no further obligations towards the Customer. License fees already paid are non-refundable.

3.3: Purchased consultancy services, etc., in addition to the subscription, are invoiced immediately following the conclusion of an agreement regarding such purchases. Payment terms are net 14 days from the date the invoice is sent to the Customer.

3.4: In the event of late payment, default interest of 2% per commenced month will accrue from the invoice due date, as well as a fee of DKK 100 per reminder sent by &Money to the Customer until full payment has been made.

4 - Processing of Personal Data

4.1: &Money processes contact details relating to the Customer and its users, as well as information regarding their use of the Software and the Services. Such processing is carried out for the purpose of delivering and optimising the Software and the Services, including improving the Software’s functionality and usability, providing support, correcting errors, etc. &Money acts as data controller for any processing of personal data carried out for these purposes and is therefore responsible for ensuring a lawful basis for such processing and for informing the relevant individuals thereof.

4.2: &Money acts as a data processor on behalf of the Customer in relation to the processing of personal data that takes place within the Software. This includes the processing of personal data contained in documentation (invoices, other vouchers, etc.) retrieved by the Software from the Customer’s financial systems and other applications. Upon entering into the Agreement, the Customer has also accepted &Money’s data processing agreement.

5 - Maintenance and Changes

5.1: &Money continuously updates the Software, and any update is implemented by &Money so that the Customer automatically obtains access thereto. &Money also performs ongoing maintenance of the Software.

5.2: Updates and maintenance may include bug fixes, functional improvements and other additions to or changes of the Software, and &Money determines the scope and frequency of such updates and maintenance.

5.3: In connection with updates or maintenance, &Money may need to temporarily suspend the Customer’s access to the Software. &Money will endeavour to notify the Customer in advance of such temporary suspension and will only suspend access at times when there is historically the least use of the Software.

5.4: &Money has the right at any time to amend the Terms with 30 days’ written notice.

6 - Requirements for the Customer and the Customer’s IT Environment

6.1: It is a condition for the Customer’s use of the Software that the Customer has access to the internet and uses an up-to-date version of a web browser supported by &Money or other relevant equipment or application to access the Software. The Customer may at any time (including prior to entering into the Agreement) request information from &Money regarding which specific web browsers and applications are supported by the Software.

6.2: The Customer is obliged to verify the Software’s output, including, but not limited to, any files as well as printouts/reports and data extracts, etc., and must immediately notify &Money if the Customer becomes aware of any errors in the Software.

7 - Assignment

7.1: &Money may assign its rights and/or obligations under the Agreement to a third party without prior consent from the Customer.

7.2: The Customer may not, without prior written consent from &Money, assign its rights or obligations under the Agreement to a third party. The Customer may not sell, rent or lease the right to use the Software beyond what expressly follows from the right of use in clause 1.

8 - Customer’s Breach

8.1: If the Customer materially breaches the Agreement (including the Terms), &Money is entitled to terminate the Agreement and bring the Customer’s right of use of the Software to an immediate end, irrespective of any agreed notice periods, etc. It shall always constitute a material breach if the Customer (i) fails to pay an overdue invoice no later than 14 days after written demand, (ii) is declared bankrupt, enters into suspension of payments or otherwise initiates liquidation/dissolution, etc., or (iii) uses the Software in violation of clause 1 or 2 or in a manner that is otherwise harmful to &Money or &Money’s other customers.

8.2: In addition to the above, the Parties are entitled to terminate the Agreement in accordance with the general rules of Danish law.

9 - Liability and Limitation of Liability

9.1: The Software is a standard solution, and the Customer is granted access to the Software as it is and as available (“as is”) at the time of entering into the Agreement. The Customer is solely responsible for ensuring that the Software and the Services meet the Customer’s needs and that the Customer may lawfully use the Software within the framework of applicable legislation.

9.2: Unless otherwise agreed in writing, &Money does not provide any form of advice or give any assurances regarding the Customer’s use of the Software. The Customer’s use of the Software is therefore at the Customer’s own risk.

9.3: &Money is not liable for errors arising as a result of misuse or incorrect use of the Software, or where such errors arise as a result of the Customer’s use of the Software in violation of what has been agreed or assumed.

9.4: &Money shall under no circumstances be liable for indirect losses or consequential damages, including, but not limited to, loss of profit or expected profit, loss of or damage to data, or any other form of indirect loss or consequential damage, as well as costs relating to internal working time and costs to third parties/cover purchases not approved in advance by &Money.

9.5: &Money disclaims – to the fullest extent permitted under mandatory applicable law – any product liability for losses or consequential damages, etc., that may arise from the use of the Software.

9.6: &Money’s total liability towards the Customer for any claim arising out of the Agreement is limited to an amount equal to the Customer’s total payments for the subscription during the 12 months preceding the event giving rise to the claim.

9.7: Any claim not brought within 12 months from the time of the damaging event may not be asserted against &Money.

10 - Force Majeure

10.1: Neither party shall be liable for losses or delays arising as a direct or indirect consequence of a force majeure event, meaning an event beyond the reasonable control of the relevant Party and which could not have been foreseen, including, but not limited to, war and other unrest, natural disasters, strikes, lockouts, fire, damage to product inventory, import and export regulations, power outages, cyberattacks (which could not have been prevented by the implementation of agreed measures), cessation of activities or lack of connection from internet operators, etc.

11 - Subcontractors (Third-Party Services)

11.1: &Money is entitled to use subcontractors in connection with the delivery of the Software and the Services.

11.2: Depending on the subscription solution selected by the Customer, the Software or the Services may require that the Customer becomes subject to special additional terms and/or additional fees imposed by a subcontractor (e.g. a third-party service). The Customer will be informed of such special terms prior to the delivery of the relevant (parts of the) Software and/or Services.

12 - Confidentiality and Security

12.1: The Parties shall observe customary confidentiality with regard to all information about each other and the contractual relationship that is not publicly known.

12.2: &Money shall observe confidentiality with respect to the Customer’s data and is not entitled to disclose the Customer’s data to third parties, except for such information as must be disclosed in order to ensure the functionality of the Software or to otherwise deliver the Software and the Services in accordance with the Agreement.

12.3: Except where explicitly provided in the Agreement, the Customer may not present the Software or disclose information relating thereto, obtained as part of the Parties’ cooperation or in violation of the Agreement, to any third party. This also applies after termination of the Agreement.

13 - Governing Law and Disputes

13.1: The Agreement shall be governed by and construed in accordance with Danish law, excluding Danish private international law rules.

13.2: Any dispute, including disputes regarding the existence or validity of all or part of the Agreement, shall be brought before the Danish courts.