Terms of Service

1. What Cifrova Business is

A finance platform for growing companies, with people who use it for you. It reads your bank feeds and documents, matches them, runs the month close and prepares reports. A financial assistant and Fractional CFO hours are optional add-ons.

Parts of the work use artificial intelligence (Claude, by Anthropic). A person reviews its proposals before they change your books.

2. What it is not

We are not your certified accountant. Your accountant keeps the statutory books and signs and files your returns. We do not give legal or tax advice, and we do not take investment decisions for you. You keep the approvals and the decisions.

3. Getting started

Cifrova starts with a meeting and a written proposal. The proposal sets the scope, the companies covered, the add-ons and the prices for the first term. Setup takes two to four weeks: we connect your banks and invoicing and agree the rules and the close with you. There is no trial and no card checkout.

4. Prices, metering and invoicing

• A monthly fee per company, which includes the first bank lines and documents of the month.
• Above that, a price per bank line and per document, metered from the books. A bank line counts when it is read from the bank. A document counts when it is filed. Users, assistants and reports are not counted.
• Add-ons, such as a financial assistant or Fractional CFO hours, are priced in the proposal and appear on the same invoice.
• Setup is a one-time charge on the first month, set in the proposal. It is waived on a 24-month term.
• We invoice on the 1st of each month for the month just closed. Invoices are payable within the term shown on them.
• Prices exclude VAT. After the first term we may change prices with 60 days' notice by email.

5. Term and ending

The first term is 12 months from the start date in the proposal, or 24 months where the setup was waived. After it, the agreement continues month by month, and either side can end it at the end of any month by email.

If you end the agreement during a first term of 12 months, the monthly fee for the rest of that term remains due, unless the proposal says otherwise. Where the setup was waived against a 24-month term, ending the agreement before that term ends makes only the setup fee in the proposal due; the remaining months are not charged. Either side may end the agreement at once for a serious breach not put right within 30 days of written notice, including unpaid invoices.

When the agreement ends we export your books in full: the ledger, the documents and the SAF-T file. We then delete your data as set out in section 9.

6. Your responsibilities

• Give us accurate information and timely access.
• Keep your bank consents current and approve what needs your approval.
• Connect only accounts you are entitled to, and send only documents you may share with us.
• Keep sign-in details safe and remove access when someone leaves.

7. Your accountant and other users

You may invite your accountant and other people. Each person gets access by role, and each action is logged in their name. You decide who has access. Your accountant's access costs nothing extra.

8. Bank and other connections

Bank feeds reach us through Fintable, a licensed open banking provider, or directly from Revolut Business, under the consent you give. Feeds are read-only. If you turn on payment drafts, each one waits for your approval in your bank. You can cut any connection at any time. The availability of a bank or a provider is outside our control.

9. Data protection

For the personal data in your books, you are the controller and we are your processor under article 28 of the GDPR. We process it only on your documented instructions and only to provide the service. Everyone who works on it is bound by confidentiality.

We use the providers listed on the service providers page, each under a data processing agreement. We tell you 30 days before adding one, and you may object. We help you answer requests from data subjects, and we tell you without undue delay of a personal data breach affecting your data.

When the agreement ends, we return your data and then delete it within 90 days, unless the law requires us to keep it. Once a year, with reasonable notice, you may check how we comply.

For the data we hold about you as a client, such as contact details and invoices, we are the controller. The Privacy Policy explains it.

Active time in Cifrova Business: for the finance function's roles we measure active time per area of the app, and the tasks each person records, to show the company's owner the finance workload and to keep the financial assistant's task account. The legal basis is legitimate interest. The owner sees totals per area and month. Daily figures are kept for 13 months, then only as monthly totals. You can object in Settings > Security > Data protection.

10. Artificial intelligence

AI reads documents and bank lines and proposes matches, categories and answers. Anthropic does not train its models on this data. AI output can be wrong, so a person reviews proposals before they change your books, and you and your accountant keep the final review.

11. Confidentiality

Each side keeps the other's confidential information confidential, during the agreement and for five years after it, except where the law requires disclosure.

12. Intellectual property

The platform, its code and its texts are ours. Your data, books and documents are yours. You allow us to use them only to provide the service.

You may not copy, reverse engineer, decompile or disassemble the platform, extract its data or functions by automated means beyond the exports and connectors it offers, or use it or what you learn from it to build or help build a competing product. These limits do not restrict anything the law allows you to do regardless of a contract.

13. Availability

We aim to keep the platform running at all times and back up data daily. We do not promise uninterrupted service. We tell you in advance about planned maintenance that affects your work.

14. Liability

Each side is liable for the direct damage it causes. Neither side is liable for indirect damage or lost profit. Our total liability in any 12 months is limited to the fees you paid us in those 12 months. These limits do not apply to wilful misconduct, gross negligence, or where the law does not allow them.

15. Complaints, law and courts

Write to info@cifrova.com first; we answer within 10 working days. You may also use the Livro de Reclamações Eletrónico. Portuguese law applies. Disputes go to the courts of Faro, Portugal.

16. Changes to these terms

We may update these terms. For material changes we email you at least 30 days before they apply. During a first term, a change that reduces the service needs your agreement.