Terms of service

AGREEMENT TO OUR LEGAL TERMS

Please read these terms carefully before accessing or using the Pinvo services, site or app. All work is carried out under these terms except where changes are expressly agreed in writing. If you do not agree to these terms, please do not use our Services.

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Normal Works Ltd, trading business as Pinvo ('Company', 'we', 'us', or 'our'), is a company registered in the United Kingdom at 167-169 Great Portland Street, 5th FloorLondon, W1W 5PF.

We operate the website https://pinvo.ai (the 'Site'), as well as any other related products and services that refer or link to these legal terms (the 'Legal Terms') (collectively, the 'Services').

You can contact us by email at service@pinvo.ai or by mail to 167-169 Great Portland Street, 5th FloorLondon, W1W 5PF.

These Legal Terms constitute a legally binding agreement made between you, whether personally or on behalf of an entity ('you'), and Normal Works Ltd, concerning your access to and use of the Services. You agree that by accessing the Services, you have read, understood, and agreed to be bound by all of these Legal Terms.

We will provide you with prior notice of any scheduled changes to the Services you are using. The modified Legal Terms will become effective upon posting or notifying you by service@pinvo.ai, as stated in the email message. By continuing to use the Services after the effective date of any changes, you agree to be bound by the modified terms.

The Services are intended for users who are at least 18 years old. Persons under the age of 18 are not permitted to use or register for the Services. If we determine that a user is less than 18 years old, we will terminate that User’s use of the Services

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‍1 - Services

1.1 - We provide bookkeeping services

Pinvo’s bookkeeping services are a solution for bookkeeping and organising financials. Unless there is separate arrangement in-place agreed by both parties, the scope of our services does not include accounting or finance operations (such as year-end accounts, corporation tax, VAT, confirmation statements, accounting or tax related consultation, payroll and pension management). Pinvo’s bookkeeping services and any related communications with us are not a substitute for and do not include legal, tax, financial, real estate, healthcare, or accounting advice.

1.2 - Bookkeeping frequency and coverage  

Pinvo provides bookkeeping for your limited company on a monthly basis. If more frequent or urgent bookkeeping services are required, you can get in touch with us for a quote. Pinvo's bookkeeping services cover the month of Engagement Starting Date and onwards. If there are historical months that you want us to do catchup bookkeeping, you can consult us for separate arrangement.

1.3 - Xero

Before working with us, you will need a Xero subscription. Xero (https://www.xero.com/uk) is the commonly accepted bookkeeping software in the UK. Pinvo uses Xero together with the software we develop in-house to do bookkeeping for you, and all your bookkeeping data and records will be kept within Xero. If you don't have a Xero subscription yet or need help to set up Xero, you can get in touch with Pinvo.    

As the transaction volume or the complexity of your business changes and certain new features of Xero (e.g. multi-currencies support) are required, you may need to upgrade your Xero subscription from time to time. You can find out more about Xero and its standard pricing here.  

1.4 - Sole bookkeeper

You agree that we will be your sole bookkeeper and in performing such services we must use, record, classify and reconcile your financial transactions and other data to prepare your books. For example, depending upon the services we provide, we may have to: (a) import transactions to your books in order to reconcile your bank accounts, (b) categorise transactions in your books to expense accounts and to balance sheet accounts for amortisation purposes, and/or (c) sync your payroll data via an integration or otherwise. As a result, once we have performed such tasks, any modifications made by you or on your behalf (for example, by another third-party service provider) to your books may adversely impact services previously performed by us, causing us to have to re-perform such services in order to resolve any resulting inconsistencies or inaccuracies or to confirm that there are no such inconsistencies or inaccuracies. If you engage another third-party service provider to make changes to your books, or you otherwise make changes to your books directly, while you have engaged us to provide bookkeeping services, the parties agree to the following remedies, which shall be at our option and in addition to any rights provided by contract, law or in equity: (i) we may delay bookkeeping deliverables that are on a deadline, (ii) we may charge our standard hourly fees for the additional work required to remediate the situation, and/or (iii) we may terminate your subscription at any time upon written notice without a refund of prepaid fees for unelapsed months of any Services. For the avoidance of doubt, this section 1.4 does not prevent you from managing accounts payable and/or accounts receivable in Xero, and/or processing payroll through Xero.

1.6 - We provide the services at the direction and for the benefit of your management

We provide the services at the request of, and under the direction of, your management. Your management is responsible for all management decisions and performing all management functions, including (i) setting policies or accepting policy recommendations; (ii) evaluating the reasonableness of underlying assumptions and the adequacy and results of the services; and (iii) implementation of any findings or recommendations resulting from the services. We may act upon, and will not have liability for acting upon, instructions in any form (e.g., electronic, written, oral) so long as we reasonably believe that the instructions were actually given by you or on your behalf. You are responsible for the legality of your instructions to us. We are not obligated to identify or offer additional services.

1.7 - We need and rely on information from you

Our provision of the services requires that you provide us access to corporate, financial and related information, information technology systems or services, and/or input from you. You agree to timely provide all such information, access and input and reasonably cooperate with us in our provision of the services. You agree to provide good faith assumptions and accurate and complete representations, information and data, and you agree that we may assume you have done so without further investigation or verification. You agree that late or insufficient information, access or input from you may cause delay in the performance of the services, inability to provide the services, or increase in the amount of our fees.

For the avoidance of doubt, if our performance of the services is prevented or delayed by any act or omission by you or your agents, vendors, consultants, or employees, we will not be in breach of our obligations or otherwise liable for any related costs, charges, or losses incurred by you.

1.8 - Modifications to the services

We are constantly changing and improving our services. We may add or remove functionality or features, and we may suspend or stop part of the services altogether.

2 - Technology and Data

2.1 - Our Technology; Internal Software

To facilitate the provision of the services, we may provide your designated users (each, a “User”) with access to and use of functionality of website(s), cloud software services, software tools, automated forms and other technologies developed by or for us (collectively, “Our Technology”). You are responsible for: (a) the confidentiality of User access credentials that are in your possession or control; (b) setting up appropriate internal roles, permissions, policies and procedures for the safe and secure use of Our Technology, (c) your Users’ use of Our Technology; and (d) your Users’ compliance with the Engagement Letter and applicable laws. You must notify us promptly if you become aware, or reasonably suspect, that your account’s security has been compromised.

To efficiently provide the Services, we use certain internal technologies and tools developed by or for us, such as integrations with Third-Party Services, software rules, checklists and other technologies (collectively, “Internal Software”). You agree to reasonably cooperate with us to enable us to use Internal Software in the provision of the services and to refrain from interfering with the operation of Internal Software. If you obtain new, or make changes to, information technology systems or services that contain relevant data for the Services, you agree to notify us promptly and reasonably cooperate with us to facilitate the efficient use of Internal Software.

2.2 - Data use and GDPR compliance

Customer Data is data provided by you or at your direction for the provision of the Services, and excerpts and reports of such data prepared as part of the services for you. For the avoidance of doubt, industry knowledge, general inferences from Customer Data across customers (without identifying you), Our Technology, Internal Software and our workpapers are not Customer Data.

Pinvo will use Customer Data for the business purposes described therein. By subscribing to any Services, you expressly consent to such use, including the use of Customer Data in Third-Party Services required for the provision of our Services, and the sharing of Customer Data across various Services for which you subscribe (e.g., bookkeeping data for tax preparation services).

As part of our services, we have in place general GDPR compliance policies to ensure the protection and security of any personal data that may be processed during our engagement. These policies are designed to comply with the requirements of the General Data Protection Regulation (GDPR) and other relevant data protection laws. As your service provider, we are committed to maintaining the highest standards of data protection and privacy. This includes implementing appropriate technical and organisational measures to protect personal data against unauthorised or unlawful processing, accidental loss, destruction, or damage.

3 - Fees and Payment

3.1 - Fees

Pinvo's services are charged on a monthly subscription basis. The current pricing can be found on our website (https://www.pinvo.ai/pricing). We base our subscription fees for services on certain facts about your business. You agree to provide us with complete and accurate information so we can determine the applicable subscription. If the information is not complete or accurate, materially changes, or you request an expanded or different scope of subscription Services, we may propose a subscription that corresponds to the revised information or your request and reserve the right to terminate the affected services or the Engagement Letter without liability if we are unable to reach an agreement with you on the revised subscription.

Subscription fees (including fees for hourly Services subscribed for on a prepaid basis) are prepaid before or at the start of the subscription period and cannot be carried over to future subscription periods.

3.2 - Fee and scope updates

We may update our prices for the services from time to time, or, as our services evolve, we may change the scope of, or subscription model for, certain services.

Specifically, our prices for the services are subject to annual indexation price adjustment at our annual pricing review cycle (start of each calendar year), and the price adjustment will be benchmarked against inflation level (with reference to the UK Retail Price Index) and take other cost factors into consideration.  

If we increase your subscription fees (and/or any related fees, such as usage-based fees) and/or materially change the scope of subscription services we provide to you, we will provide you with advance written notice of such increase or change at least 30 days prior to your next renewal period. If you do not terminate your subscription within such 30-day period, you agree that your continued use of the services constitutes your agreement to pay, and your authorisation for us to collect payment from you in accordance with Section 3.3 of, such increased or updated fees.

3.3 - Payment

Pinvo will collect payment in advance upfront for the fees payable by you under the Engagement Letter automatically via bank cards or direct debit. You need to authorise Pinvo with a mandate so we can collect payment.

We may immediately suspend provision of any or all services if your account is past due with respect to the payment of fees for any services or any other amounts owed by you to us. You agree to pay any fees for services owed by your affiliates. Except to the extent expressly set forth in the Engagement Letter, all payments are non-refundable and non-creditable. In the case of nonpayment of any amount due and owed under the Engagement Letter, in addition to such unpaid amounts you will reimburse us for all costs and fees incurred to collect the unpaid amounts.

4 - Commencement of Engagement

There are a number of checks that we need to conduct before our relationship can begin. These checks may include (but may not be limited to):

4.1 - Anti Money Laundering compliance checksAs a bookkeeping service provider, we are required by regulations to conduct Anti Money Laundering checks when we onboard new clients. Therefore, our engagement is conditional on the checks referred to above coming back clear and not presenting any issue that would prohibit or prevent us from acting for you. Until this time, our retainer shall not be deemed legally binding.

Our engagement will be deemed to have commenced on the satisfactory completion of these checks (the "Commencement Date").

5 - Termination

Our engagement and your subscription will be auto renewed unless it's terminated by either party. Either party may terminate this engagement by giving 30 days' written notice to the other party. In the event of termination, our fees will be calculated up to the month of termination.

You may stop using the Services at any time without cause, however we will not be obligated to provide a refund of any prepaid subscription fees.

We may withdraw from providing any or all of the services at any time by providing notice of termination of the Engagement Letter or specific services to you via the email address we have on file. For the avoidance of doubt, you agree that we will not be obligated to issue a refund if our withdrawal is caused by your breach of the Engagement Letter, including your failure to pay any fees when due or to timely provide information, systems access or input that we have reasonably requested for the provision of the services.

6 - Confidentiality

“Confidential Information” means information of one party (or its Affiliates) disclosed to the other party (“recipient”) pursuant to the Agreement that is marked as confidential or would normally be considered confidential information under the circumstances. Customer Data and Login Credentials are your Confidential Information. Confidential Information does not include information that (i) is known to the recipient without a confidentiality obligation prior to its disclosure to the recipient, (ii) is independently developed by the recipient without use of the other party’s Confidential Information, (iii) is rightfully shared with the recipient by a third party without confidentiality obligations, or (iv) was or becomes publicly known through no fault of the recipient.

We will maintain the confidentiality of all information relating to your affairs, except where disclosure is required by law.

7 - Limitation of Liability

7.1 We will provide services as outlined in this letter with reasonable care and skill. Our liability to you is limited to losses, damages, costs and expenses caused by our negligence or wilful default. However, to the fullest extent permitted by law, we will not be responsible for any losses, penalties, surcharges, interest or additional tax liabilities if you or others supply incorrect or incomplete information, or fail to supply any appropriate information or if you fail to act on our advice or respond promptly to communications from us or the tax authorities.

7.2 You will not hold us responsible, to the fullest extent permitted by law, for any loss suffered by you arising from any misrepresentation (intentional or unintentional) supplied to us orally or in writing in connection with this agreement. You have agreed that you will not bring any claim in connection with services we provide to you against any of our partners, directors or employees personally.

7.3 Unless there is a legal or regulatory requirement to do so, our work is not to be made available to third parties without our written permission and we will accept no responsibility to third parties for any aspect of our professional services or work that is made available to them.

7.4 Notwithstanding 7.1 above we reserve the right to cap our overall liability to an amount equal to two times the fees (VAT exclusive) paid by you to us, during the preceding twelve months.

7.5 Our responsibilities will be limited to the services outlined above in point 1, and we will not be responsible for any matters beyond the scope of our engagement. You are responsible for maintaining adequate records and ensuring that they are accurate and complete.

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