Terms of Service

Welcome to Veloziq (the "Platform", "Service", "we", "us", or "our"), operated by Veloziq ("Company").

Please read these Terms of Service ("Terms") carefully before registering, accessing, or using the Platform. By clicking acceptance, registering an account, or accessing our Service, you acknowledge that you have read, understood, and agree to be legally bound by these Terms and our Privacy Policy. If you are entering into these Terms on behalf of a company, organization, or other legal entity, you represent and warrant that you have full authority to bind that entity.

1. Nature of Services & Platform Role (Crucial Disclaimer)

1.1 Pure Technology Provider: Veloziq is a cloud-based Lending Software-as-a-Service (SaaS) solution designed to provide software management tools, workflow automation, APIs, and data analytics to licensed lenders, financial institutions, brokers, or corporate clients ("Customer").

1.2 Not a Lender or Broker: Veloziq is NOT a bank, credit union, licensed money lender, loan broker, or investment advisor. Veloziq does not underwrite loans, make credit decisions, issue funds, hold deposits, or broker credit transactions.

1.3 Customer Compliance Responsibility: The Customer is solely and independently responsible for ensuring full compliance with all applicable statutory and regulatory requirements (including but not limited to Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT), lending licenses, usury laws, truth-in-lending disclosures, and consumer financial protection laws).

2. Account Registration and Security

2.1 Eligibility: You must possess the legal capacity to enter into binding agreements.

2.2 Credential Security: You are solely responsible for maintaining the confidentiality of your credentials, including passwords, API keys, and multi-factor authentication (MFA). Veloziq is not liable for any unauthorized access or loss arising from your failure to protect your login information.

2.3 Authorized Users: The Customer shall ensure that only authorized employees and contractors access the tenant environment and remains fully liable for all activities under its account.

3. License and Intellectual Property

3.1 Limited License: Subject to these Terms, Veloziq grants you a non-exclusive, non-transferable, non-sublicensable, and revocable limited license to access and use the Platform during the active subscription period.

3.2 Proprietary Rights: All software, source code, UI/UX architecture, algorithms, trade secrets, documentation, and trademarks associated with Veloziq remain the exclusive property of Veloziq and its licensors.

3.3 Restrictions: You shall not, directly or indirectly:

(a) Reverse engineer, decompile, or attempt to derive the source code of the Service;

(b) Use the Platform to build a competitive product or service;

(c) Bypass, disable, or tamper with any security measures or license metering mechanisms;

(d) Launch denial-of-service (DoS) attacks, inject malicious code, or excessively burden the API infrastructure.

4. Customer Data and Privacy Compliance

4.1 Ownership of Customer Data: Customer retains all rights, title, and interest in and to all data, loan files, borrower information, and records uploaded to the Platform ("Customer Data").

4.2 Processing License: Customer grants Veloziq a limited license to host, copy, process, and transmit Customer Data solely to provide, maintain, secure, and improve the Service.

4.3 Data Privacy Representation: Customer warrants that it has collected, processed, and transferred all Personally Identifiable Information (PII) of end-borrowers into the Platform in full compliance with applicable data protection laws, including obtaining proper borrower notices and consents.

5. Fees and Payment Terms

5.1 Fees: Customer agrees to pay all fees outlined in the applicable Order Form or online subscription plan.

5.2 Taxes: All fees are exclusive of any sales, use, value-added (VAT), withholding, or excise taxes, which shall be the sole responsibility of the Customer.

5.3 Overdue Payments: Delinquent payments may accrue interest at the rate of 1.5% per month or the maximum rate permitted by law. Veloziq reserves the right to suspend access to delinquent accounts.

6. Service Levels and Disclaimers

6.1 "AS IS" Provision: Except as expressly provided in a Service Level Agreement (SLA), the Service is provided on an "AS IS" and "AS AVAILABLE" basis. Veloziq expressly disclaims all warranties of any kind, whether express, implied, or statutory, including warranties of merchantability, fitness for a particular purpose, and non-infringement.

6.2 Credit Decision Disclaimer: Any scoring algorithms, automated rule engines, or decisioning tools are technical utilities only. All final underwriting decisions, interest rate determinations, and loan rejections are made strictly by the Customer. Veloziq disclaims any liability for defaults, bad debts, fraud, or borrower disputes.

7. Limitation of Liability

To the fullest extent permitted by applicable law:

7.1 Consequential Damages Waiver: In no event shall Veloziq be liable for any lost profits, lost revenue, lost goodwill, business interruption, loss of data, or incidental, indirect, consequential, or punitive damages.

7.2 Aggregate Liability Cap: Veloziq’s total cumulative liability arising out of or related to these Terms or the Platform shall not exceed the total amounts actually paid by Customer to Veloziq in the twelve (12) months preceding the incident giving rise to liability.

8. Term and Termination

8.1 Termination for Cause: Either party may terminate these Terms upon written notice if the other party materially breaches any provision and fails to cure such breach within thirty (30) days of receipt of notice.

8.2 Data Export and Deletion: Customer will have thirty (30) days post-termination to export Customer Data. Thereafter, Veloziq may securely delete or overwrite Customer Data in accordance with its retention standards, unless prohibited by statutory recordkeeping obligations.

9. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of Taiwan (R.O.C.), without giving effect to conflict of laws principles. Any dispute arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the Taipei District Court (or applicable international arbitration forum, e.g., SIAC/HKIAC if customized for cross-border operations).