Terms of Service

By creating an account, clicking “Sign up”, starting a trial, subscribing, or otherwise accessing or using the Service, you (“you”, the “Customer”) agree to be bound by these Terms. If you accept on behalf of a company or other legal entity, you represent and warrant that you have full authority to bind that entity to these Terms.

If you do not agree to these Terms, you must not use the Service.

2.1 Strictly business-to-business. The Service is a software productivity tool provided exclusively for business, commercial and professional use (such as preparing communications for angel investors, venture capitalists and company stakeholders). It is not intended for personal, domestic or household use.

2.2 Contracting out of consumer guarantees. You agree and acknowledge that you are acquiring the Service in trade. To the maximum extent permitted by New Zealand law: the provisions of the Consumer Guarantees Act 1993 do not apply to the Service or these Terms; and sections 9, 12A and 13 of the Fair Trading Act 1986 are contracted out of, and you acknowledge that it is fair and reasonable that the parties are bound by this clause.

3.1 You must provide accurate, current and complete information during registration and keep your account details up to date.

3.2 You are responsible for safeguarding your login credentials and for all activity that occurs under your account. You must notify us immediately at support@onrec.io of any unauthorised access or security breach.

Access to the Service and all features included in your plan (such as update generation, side-by-side editing, cover-note generation and PDF downloads) is provisioned digitally and immediately upon account verification and/or completion of the checkout process. No physical goods will be shipped.

5.1 Free account. An unsubscribed free account allows you to configure your company profile and prepare drafts. Creating, generating, downloading PDF updates and copying cover notes require an active trial or paid subscription.

5.2 60-day free trial. New subscribers are eligible for a single 60-day free trial. You must provide valid credit or debit card details via Stripe at checkout to begin the trial. You will not be charged during the 60-day trial period.

5.3 Automatic renewal and trial-end notice. Unless cancelled before the end of the 60-day free trial, your subscription will automatically convert into a paid recurring monthly subscription at USD $29.00 per month (plus applicable taxes, if any). Your subscription will continue to renew monthly on the same calendar day until you cancel. We will send an email reminder to your registered account email address before your 60-day trial concludes, telling you the trial is ending and how to cancel if you do not wish to be charged.

5.4 Payment processing. All payments, card storage and recurring billing are handled by our third-party payment processor, Stripe. We do not store full payment card numbers on our servers. You agree to comply with Stripe’s terms and authorisation rules.

5.5 Cancellation. You may cancel at any time via Settings → Manage billing in the app, which links to the Stripe Customer Portal. On cancellation you retain full access to generate updates and download PDFs until the end of your current prepaid billing cycle or trial period. No further renewal charges will be billed.

5.6 Refunds. All subscription fees paid are non-refundable and there are no prorated credits for partial billing periods, except where required by applicable law.

5.7 Price adjustments. We may revise our monthly pricing on at least 30 days’ notice by email or in-app notification before the new rate applies to your next renewal.

To ensure platform stability and prevent abuse, accounts are subject to a fair-use limit of up to 10 generated updates per company per calendar month. We may suspend or throttle accounts that attempt automated scraping, reverse engineering, or systematic excessive use of our generation endpoints.

7.1 Role of AI. The Service uses artificial intelligence and large language models to tidy your rough notes, format financial metrics, and assist in structuring your one-page investor letters.

7.2 Founder responsibility. You are solely responsible for all content, metrics, calculations, representations and updates generated through the Service. You agree to review, edit and verify all numbers, variances and statements before distributing updates or PDFs to investors, shareholders or third parties.

7.3 No financial or legal advice. OnRecord is an administrative formatting and reporting tool. OnRecord Limited does not provide financial, investment, securities, tax, accounting or legal advice. Generating an update does not constitute an offer, solicitation or recommendation regarding your company’s securities.

8.1 Your data and logos. You retain all intellectual property rights, title and ownership in the data, numbers, notes, logos, text and materials you submit to OnRecord (“Customer Data”). You grant OnRecord Limited a limited, worldwide, non-exclusive licence to host, copy, process and display your Customer Data solely to the extent necessary to provide the Service to you.

8.2 OnRecord intellectual property. All software, code, UI designs, templates, document formatting layouts, algorithms, logos and trademarks associated with OnRecord are and remain the exclusive property of OnRecord Limited. You may not copy, reverse engineer, decompile or resell any part of the Service.

9.1 “As is” basis. To the fullest extent permitted by law, the Service is provided on an “as is” and “as available” basis without warranties of any kind, whether express, implied, statutory or otherwise, including implied warranties of merchantability, fitness for a particular purpose or non-infringement.

9.2 We do not warrant that the Service will be uninterrupted, error-free or completely secure, or that generated updates will guarantee investor satisfaction or future funding.

To the maximum extent permitted by New Zealand law (including the Contract and Commercial Law Act 2017):

10.1 No indirect damages. Neither OnRecord Limited nor its directors, officers, employees or agents shall be liable for any indirect, incidental, consequential, special or punitive damages, including loss of profits, loss of investor funding, loss of data, business interruption or reputational harm, arising out of or in connection with the Service.

10.2 Aggregate cap. Our total aggregate liability arising out of or related to these Terms or the Service shall not exceed the total fees paid by you to OnRecord Limited in the twelve (12) months preceding the incident giving rise to liability (or USD $50.00 if you are within your free trial).

We may suspend or terminate your account immediately if you breach these Terms, engage in fraudulent activity, fail to settle outstanding fees after a grace period, or use the Service in a manner that causes liability to OnRecord or other users. You may terminate your account at any time by cancelling your subscription and contacting support to request account deletion.

12.1 These Terms, and any disputes or claims arising out of or in connection with them or the Service, are governed by and construed in accordance with the laws of New Zealand.

12.2 The parties irrevocably submit to the exclusive jurisdiction of the courts of New Zealand to resolve any dispute arising from or related to these Terms.

We may revise these Terms from time to time. If we make material changes we will notify you by email or by a prominent in-app notification at least 14 days before the changes take effect. Your continued use of OnRecord after the effective date constitutes acceptance of the updated Terms.

OnRecord Limited
NZBN / Company number: 9429054001206
Registered office: 650 Pukehina Parade, Pukehina 3189, New Zealand
Email: support@onrec.io
Website: www.onrec.io