Terms of Service
These Terms of Service ("Terms") govern your access to and use of the Folio AI platform and associated services ("Service") provided by Folio AI ("we", "our", or "us"). By creating an account or using the Service, you agree to be bound by these Terms. If you are accepting on behalf of a firm, you represent that you have authority to bind that firm.
1. Service description
Folio AI is an AI-powered bookkeeping automation platform for Canadian accounting firms. The Service allows firms to upload financial documents, extract structured data using AI, review and approve entries, and sync approved entries to connected accounting software such as QuickBooks Online. Feature availability varies by subscription tier.
2. Eligibility and accounts
You must be at least 18 years old and legally able to enter contracts in your jurisdiction to use the Service. You are responsible for maintaining the security of your account credentials and for all activity that occurs under your account. Notify us immediately of any unauthorized access.
3. Acceptable use
You agree not to:
- Use the Service to process documents belonging to clients for whom you do not have a legitimate professional engagement.
- Attempt to reverse-engineer, decompile, or extract AI models or proprietary algorithms from the Service.
- Upload documents containing malware or designed to disrupt the platform.
- Resell or sublicense access to the Service without our written permission.
- Use the Service in a manner that violates PIPEDA or other applicable privacy legislation.
- Circumvent usage limits or access controls.
4. Data ownership
You and your firm retain full ownership of all documents you upload and all data extracted from those documents. We do not claim any ownership over your client data. We process your data as a data processor acting on your instructions. You are the data controller with respect to your clients' personal information.
By uploading documents, you grant us a limited, non-exclusive licence to process that data solely for the purpose of providing the Service to you. This licence ends when you delete the data or close your account.
5. Subscription and payment
Access to the Service requires an active paid subscription. Subscriptions are billed monthly in Canadian dollars. Overage charges apply when document volume exceeds your plan limit. All prices are exclusive of applicable taxes. We reserve the right to change pricing with 30 days' notice.
Subscriptions renew automatically unless cancelled before the renewal date. Cancellation takes effect at the end of the current billing period. We do not issue pro-rated refunds for cancellations mid-period except where required by law.
6. Service availability
We aim to maintain high availability but do not guarantee uninterrupted access. Planned maintenance will be communicated in advance where possible. For plans with an SLA, the terms of that SLA govern availability commitments.
7. Limitation of liability
To the maximum extent permitted by applicable law, Folio AI's total liability for any claim arising from or related to the Service is limited to the fees paid by you in the three months preceding the event giving rise to the claim.
We are not liable for indirect, incidental, consequential, or punitive damages, including lost profits or data loss. The Service is a tool that supports your professional judgment — it does not replace the responsibility of a qualified accountant. You are responsible for reviewing and approving all entries before they are submitted to tax authorities or third-party accounting systems.
8. Intellectual property
The Folio AI name, logo, software, and documentation are the intellectual property of Folio AI. These Terms do not grant you any rights in our intellectual property beyond the limited right to use the Service as described here.
9. Termination
Either party may terminate these Terms at any time. We may suspend or terminate your account immediately if you breach these Terms, fail to pay amounts due, or use the Service in a way that creates legal risk for us or other users. On termination, your access to the Service ends and we will make your data available for export for 30 days, after which it will be deleted unless a longer retention period is required by law.
10. Governing law and disputes
These Terms are governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein. Any dispute arising from these Terms or the Service will be resolved in the courts of Ontario, and you consent to the jurisdiction of those courts.
11. Changes to these Terms
We may update these Terms from time to time. Material changes will be communicated by email at least 14 days before taking effect. Continued use of the Service after the effective date constitutes acceptance of the updated Terms.
12. Contact
Questions about these Terms can be directed to s95.adnan@gmail.com or via the contact form.