Terms of Service

1. Acceptance of Terms

By accessing or using the LendSimple platform ("Service"), you agree to be bound by these Terms of Service ("Terms"). If you are using the Service on behalf of an organization, you represent and warrant that you have the authority to bind that organization to these Terms.

If you do not agree to these Terms, you may not access or use the Service. We reserve the right to update these Terms at any time, and your continued use of the Service constitutes acceptance of any changes.

2. Description of Service

LendSimple is a multi-tenant loan management platform that provides tools for loan origination, servicing, collections, compliance, and reporting. The Service is provided on a subscription basis as described in your service agreement.

We may modify, update, or discontinue features of the Service from time to time. We will provide reasonable notice of any material changes that affect your use of the platform.

3. Account Registration

To use the Service, you must create an account and provide accurate, complete information. You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account.

You agree to notify us immediately of any unauthorized use of your account. We are not liable for any loss or damage arising from your failure to protect your account credentials.

4. Acceptable Use

You agree to use the Service only for lawful purposes and in accordance with these Terms. You shall not:

• Use the Service to violate any applicable law or regulation
• Attempt to gain unauthorized access to any part of the Service or its related systems
• Interfere with or disrupt the integrity or performance of the Service
• Use the Service to transmit malicious code or harmful content
• Reverse engineer, decompile, or disassemble any part of the Service
• Resell, sublicense, or redistribute the Service without prior written consent

5. Data and Privacy

Your use of the Service is also governed by our Privacy Policy, which describes how we collect, use, and protect your information. You retain ownership of all data you submit to the Service.

Each tenant's data is stored in a fully isolated database schema. We implement industry-standard security measures to protect your data, including encryption at rest and in transit.

6. Intellectual Property

The Service, including its software, design, documentation, and all related intellectual property, is owned by LendSimple and protected by copyright, trademark, and other intellectual property laws.

We grant you a limited, non-exclusive, non-transferable license to access and use the Service during your subscription period. This license does not include the right to modify, distribute, or create derivative works based on the Service.

7. Payment Terms

Subscription fees are billed in advance on a monthly or annual basis as specified in your service agreement. All fees are non-refundable except as required by law or as explicitly stated in your agreement.

We reserve the right to change our pricing with 30 days' written notice. Price changes will take effect at the start of your next billing cycle.

8. Service Level

We strive to maintain 99.9% uptime for the Service. Scheduled maintenance windows will be communicated in advance. Our Service Level Agreement (SLA) terms, including remedies for downtime, are specified in your service agreement.

9. Termination

Either party may terminate the subscription with 30 days' written notice. We may suspend or terminate your access immediately if you violate these Terms or if required by law.

Upon termination, you may request an export of your data within 30 days. After that period, we will delete your data in accordance with our data retention policies.

10. Limitation of Liability

To the maximum extent permitted by law, LendSimple shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, data, or business opportunities, arising from your use of the Service.

Our total liability for any claims arising under these Terms shall not exceed the amount you paid for the Service in the twelve months preceding the claim.

11. Indemnification

You agree to indemnify and hold harmless LendSimple, its officers, directors, employees, and agents from any claims, damages, losses, or expenses arising from your use of the Service, your violation of these Terms, or your violation of any rights of a third party.

12. Changes to Terms

We may revise these Terms from time to time. Material changes will be communicated via email or through the Service at least 30 days before they take effect. Your continued use of the Service after the effective date constitutes acceptance of the revised Terms.

13. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to its conflict of law provisions. Any disputes arising under these Terms shall be resolved in the state or federal courts located in Delaware.

14. Contact

If you have any questions about these Terms, please contact us at legal@lendsimple.io or visit our Contact page.