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1. Acceptance of Terms
By downloading, installing, or using the Monait application ("App"), you agree to be bound by these Terms of Use ("Terms"). If you do not agree to these Terms, please do not use the App.
2. Description of Service
Monait is a financial management tool that provides the following features:
- Bill and income tracking
- Voice input for expense recording
- Photo scanning of receipts and documents
- Bank statement PDF conversion to transaction data
- Export functionality to Excel and CSV formats
- AI-powered financial analysis and insights
- Data visualization and reporting
3. User Accounts and Data
3.1 Data Storage
Your financial data is stored locally on your device and backed up through Apple's iCloud service. We do not maintain separate servers or databases containing your personal financial information.
3.2 Data Processing
The App processes your financial data in the following ways:
- On-Device Processing: On devices with Apple Intelligence, AI processing for basic features occurs locally on your device
- External LLM Processing: Complex features such as bank statement PDF conversion require external LLM processing. Users may configure their own Large Language Model (LLM) provider
- Regional Considerations: In regions without Apple Intelligence, users must consent to data processing through developer-selected LLM providers for AI features
- User Consent: If you do not consent to external data processing, features requiring LLM services (including PDF conversion) will be disabled, but all other App functionality remains available
3.3 Bank Statement Processing
The bank statement PDF conversion feature:
- Requires external LLM processing due to complexity
- Processes only the PDF files you explicitly upload
- Converts data to structured formats (Excel/CSV) on your device
- Does not store processed PDFs on external servers after conversion
4. AI Financial Analysis Disclaimer
IMPORTANT: The AI-powered financial analysis, insights, and recommendations provided by Monait are for informational purposes only and do not constitute professional financial, investment, tax, or legal advice.
By using the AI features, you acknowledge and agree that:
- The AI analysis is based on the data you provide and may not account for all aspects of your financial situation
- Bank statement conversions may contain errors and should be verified for accuracy
- You should not rely solely on AI-generated insights for making financial decisions
- You should consult with qualified financial professionals before making significant financial decisions
- The developer assumes no responsibility for any financial losses or damages resulting from actions taken based on AI-generated insights or converted data
5. User Responsibilities
You are responsible for:
- Maintaining the accuracy of data entered into the App
- Verifying converted bank statement data for accuracy
- Keeping your device and iCloud account secure
- Backing up your data regularly through iCloud
- Using the App in compliance with all applicable laws and regulations
- Ensuring you have the right to process any bank statements you upload
6. Privacy and Data Protection
Your privacy is important to us. Please review our Privacy Policy to understand how we handle your information. Key points include:
- We do not collect, store, or have access to your financial data
- Bank statement PDFs are processed temporarily and not retained
- Data sharing only occurs with your explicit consent
- You maintain full control over your data at all times
7. Intellectual Property
The Monait App, including its design, features, and content, is protected by intellectual property laws. You may not:
- Copy, modify, or distribute the App
- Reverse engineer or attempt to extract the source code
- Use the App for any illegal or unauthorized purpose
8. Third-Party Services
8.1 iCloud
The App uses Apple's iCloud service for data backup. Your use of iCloud is subject to Apple's terms and conditions.
8.2 LLM Providers
For features requiring external processing (including bank statement conversion), if you choose to use external LLM providers, you acknowledge that:
- Data processing will be subject to the LLM provider's terms and privacy policies
- The developer is not responsible for the LLM provider's data handling practices
- You may opt out of using external LLM services, but this will disable features requiring such processing
- Bank statement PDFs contain sensitive financial information and should only be processed through trusted providers
9. Disclaimer of Warranties
THE APP IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
We do not warrant that:
- The App will meet all your requirements
- The App will be uninterrupted, timely, secure, or error-free
- Bank statement conversions will be 100% accurate
- The results obtained from the App will be accurate or reliable
10. Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL THE DEVELOPER BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, DATA, USE, OR GOODWILL, ARISING OUT OF OR RELATED TO YOUR USE OF THE APP.
This includes but is not limited to:
- Errors in bank statement conversion
- Financial decisions based on converted data
- Loss or corruption of financial data
- Unauthorized access to your financial information
The developer's total liability for any claim arising out of or relating to these Terms or the App shall not exceed the amount paid by you for the App in the twelve (12) months preceding the claim.
11. Indemnification
You agree to indemnify, defend, and hold harmless the developer from any claims, losses, damages, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of or related to:
- Your use of the App
- Your violation of these Terms
- Your violation of any rights of another party
- Any financial decisions made based on the App's AI-generated insights or converted data
- Your upload and processing of bank statements
12. Changes to Terms
We reserve the right to modify these Terms at any time. We will notify you of any material changes through the App or other means. Your continued use of the App after such modifications constitutes your acceptance of the updated Terms.
13. Termination
You may stop using the App at any time. We reserve the right to suspend or terminate your access to the App if you violate these Terms or for any other reason at our sole discretion.
14. Governing Law
These Terms shall be governed by and construed in accordance with the laws of the jurisdiction in which the developer is located, without regard to its conflict of law provisions.