Terms & Conditions

1.1 "Refundely": the private limited company Refundely B.V., provider of the platform.

1.2 "Platform": the web application of Refundely for processing deposit refunds.

1.3 "User": any natural or legal person who uses the Platform.

1.4 "AI extraction": the automated reading of data from uploaded documents using artificial intelligence.

1.5 "SEPA file": an XML file conforming to SEPA standards for executing bank transfers.

2.1 These terms and conditions apply to all use of the Platform and all agreements between Refundely and the User.

2.2 By using the Platform, the User accepts these terms and conditions.

2.3 Deviations from these terms are only valid if agreed upon in writing.

3.1 The Platform uses AI technology to automatically extract data from uploaded invoices and documents, including but not limited to: IBAN numbers, names, amounts, and other financial data.

3.2 The User acknowledges and accepts that AI extraction is not flawless. Despite continuous improvement of our algorithms, inaccuracies may occur due to, among others:

• Poor image quality of uploaded documents
• Unusual document layouts
• Handwritten or unclear text
• Technical limitations of the AI models

3.3 The User is at all times fully responsible for:

• Verifying all extracted data for accuracy
• Verifying IBAN numbers before initiating payments
• Verifying amounts and names of beneficiaries
• Approving SEPA files before sending them to the bank

3.4 Refundely offers the Platform as a tool. The ultimate responsibility for the accuracy of payments lies solely with the User.

4.1 Refundely is not liable for damages arising from:

• Incorrect AI extraction of data from documents
• Erroneous payments resulting from unverified data
• Payments to incorrect IBAN numbers
• Incorrect amounts in generated SEPA files
• Failure or late execution of payments by the User's bank

4.2 Refundely's total liability is limited to the amount the User has paid to Refundely in the preceding 12 months for use of the Platform.

4.3 Refundely is never liable for indirect damages, consequential damages, lost profits, or missed savings.

4.4 The User indemnifies Refundely against claims from third parties arising from the User's use of the Platform.

5.1 The User guarantees that:

• They are authorized to process the uploaded documents
• The uploaded documents do not infringe upon rights of third parties
• The Platform is not used for fraudulent or unlawful purposes

5.2 The User is responsible for keeping login credentials confidential and securing access to the account.

5.3 The User must verify all extracted data before using it for payments or other purposes.

6.1 All intellectual property rights to the Platform, including the software, algorithms, and AI models, belong to Refundely.

6.2 The User obtains a non-exclusive, non-transferable right of use for the duration of the agreement.

6.3 It is not permitted to copy, reverse-engineer, or use the Platform for developing competing services.

7.1 Refundely processes personal data in accordance with the General Data Protection Regulation (GDPR).

7.2 For more information about the processing of personal data, we refer to our Privacy Statement.

7.3 Uploaded documents are stored encrypted and only processed for delivering the service.

8.1 Refundely reserves the right to modify these terms. Users will be notified of any changes.

8.2 The User can terminate use of the Platform at any time by deleting their account.

8.3 Refundely may suspend or terminate a User's account in case of violation of these terms.

10.1 Refundely offers the ability to send automatic email notifications to tenants when processing deposit refunds via SEPA export.

10.2 When using the Refundely sender (noreply@refundely.com), emails may only contain transactional content directly related to the deposit refund. It is not permitted to send promotional or commercial messages via the Refundely sender.

10.3 When using a custom sender, the User is fully responsible for the content of the additional message field and all other customizations to the email.

10.4 The User guarantees that any commercial or promotional content in email notifications complies with the General Data Protection Regulation (GDPR) and other applicable laws and regulations, including having a valid legal basis for sending such messages to recipients.

10.5 Refundely is not liable for the content of messages composed by the User, nor for any consequences of sending these messages.

10.6 Refundely reserves the right to suspend or terminate email functionality in case of abuse, spam, or violation of this article.

9.1 These terms and all agreements are governed by Dutch law.

9.2 Disputes shall be submitted to the competent court in the district where Refundely is established.

9.3 Parties shall first attempt to resolve disputes through mutual consultation.