Welcome to ForwardAI.com Inc. These Terms of Service (these "Terms") constitute a binding legal agreement (the "Agreement") between you (either an individual or an entity) and ForwardAI.com Inc.(referred to as either "ForwardAI," "us," "the Company," or "we") regarding your use of www.forwardai.com (the "Site"), including your use of our API, analytics and reporting services (the "Service").
Please read these terms carefully and keep a copy for your reference. If you cannot agree to and comply with this Agreement and its requirements, you are expressly prohibited from using the Site and/or the Service and must exit the Site.
If you are using the Site or the Service on behalf of a company or other legal entity, In that case, you represent and warrant that you have the legal authority to bind such company or entity to this Agreement.
You agree to receive electronic messages from us by using the Web or the Service. You accept that all agreements, notices, disclosures, and other correspondence sent to you electronically, via email, and on the Site comply with any legal requirement that such communications be in writing.
If you wish to use the Site, you will need to provide us with certain information, including but not limited to the real name, complete address, phone number, finances, and business information. You will also need to create a User ID and a password for your account.
Only you are authorized to use your account to use the Service and conduct other activities with us. You are responsible for all activities that occur through your account. You are responsible for maintaining your account and password's confidentiality and restricting access to your computer. You agree to accept responsibility for all activities that occur under your account or password. With your permission, we may also access your accounting data, banking information, obtain a credit report, retrieve bank account data, and/ or collect other third-party data about you (collectively, the "Personal Information").
Please notify us immediately of any unapproved use of your account or any other security violation regarding the Service. ForwardAI does not intentionally collect, either online or offline, personal information from individuals under eighteen. If you are under 18, you may use ForwardAI only with a parent or guardian's permission.
Fees and Payment
ForwardAI offers a subscription-based service to our users. Upon any notice required by applicable laws, we may change the fees and subscription offerings for the ForwardAI service at any time or require new fees or charges. Such changes will be effective immediately upon posting on the Site.
You conform to the pricing, payment, and charges policies as set forth (a) herein, (b) on the Site and/or (c) if applicable, on a very individual basis dead or accepted commercial instrument. All fees paid for the Service are non-refundable and non-transferable except as expressly provided in this Agreement. All fees and applicable taxes, if any, are payable in United States dollars. You are entirely accountable for the payment of and shall pay when due, all applicable sales, and use taxes and similar fees currently operative, enacted, or forced in the future to deliver the Site and Service and/or any related transactions.
You may cancel your account and/or subscription at any time, and your subscription will stay active until the current paid subscription expires. No refunds will be issued for canceled accounts.
Prohibited use of Intellectual Property (the "IP")
You may not use the Site in any manner which could damage, disable, overburden, or impair the Site or interfere with any other party's use or experience of the Site. You may not obtain or attempt to obtain any materials or information through any means not intentionally made available or provided for through the Site.
The Website, all contents included as a part of the Service, such as site design, photos, images, software, text, and logos, are protected by the copyright and other laws that protect intellectual property and proprietary rights. You must comply with all applicable laws and consent; you will not make any changes to it.
ForwardAI content is not allowed for resale. You won't alter, distribute, communicate, figure out, take an interest in the exchange or deal, make subsidiary works, or in any capacity misuse any of the substance, in entire or partially, found on the Site.
Your utilization of the Site doesn't qualify you to utilize any secured content, and specifically, you won't erase or modify any exclusive rights or attribution sees in any material. You will use secured content exclusively for your own use and will not utilize the material without the express written consent of ForwardAI and the copyright proprietor. You agree that you don't get any proprietorship rights in any secured content. We do not allow you any licenses, express or inferred, to the protected innovation of ForwardAI or our licensors besides as explicitly approved by these Terms.
Use of communication services
The Platform may include bulletin board services, chat rooms, newsgroups, forums, communities, internet forums, calendars and/or other message or communication facilities designed to allow you to connect with the general public or with a community (collectively, "Communication Services"), you agree to use the Communication Services solely for the purpose of posting, sending and receiving messages and content. By way of illustration, and not as a constraint, you accept that you will not:
- Defame, abuse, harass, stalk, threaten, or otherwise violate the legal rights (such as rights of privacy and publicity) of others.
- Publish, post, upload, distribute or disseminate any inappropriate, profane, defamatory, infringing, obscene, indecent, or unlawful topic, name, material, or information.
- Upload files that contain software or other material protected by intellectual property laws (or by rights of privacy of publicity) unless you own or control the rights to it or have received all necessary consents.
- Upload files containing viruses, corrupted files, or any other similar software or programs that may damage another's computer's operation.
- Advertise or offer to sell or buy any goods or services for any business purpose, unless such Communication Service specifically allows such messages.
- Conduct or forward surveys, contests, pyramid schemes or chain letters.
- Download any file posted by another user of a Communication Service that you know, or reasonably should know, cannot be legally distributed in such manner.
- Falsify or delete any author attributions, legal or other proper notices or proprietary designations or labels of the origin or source of software or other material contained in a file that is uploaded.
- Restrict or inhibit any other user from using and enjoying the Communication Services.
- Violate any code of conduct or other guidelines that may be applicable for any particular Communication Service.
- Harvest or otherwise collect information about others, including email addresses, without their consent.
- Violate any applicable laws or regulations.
The ForwardAI is not obliged to monitor the Communication Services. However, we retain the right, in its absolute discretion, to review materials posted to the Communication Service and to delete any materials.
ForwardAI reserves the right to terminate, for any cause whatsoever, your access to any or all of the Communication Services at any time without warning.
We also reserve the right at all times to disclose any information regarding your usage of the Website as necessary to satisfy any law, regulation or governmental request or to edit, refuse to post or to remove any information or materials, in whole or in part, in ForwardAI' sole discretion.
Safeguard your personal information and use cause sharing it with any Communication Service. ForwardAI does not control or endorse the content, messages, or information found in any Communication Service. Therefore, we expressly disclaim any liability concerning the Communication Services and any actions resulting from your participation in any Communication Service. Managers, hosts are not authorized spokespersons of ForwardAI, and their views do not necessarily reflect those of ForwardAI.
Materials uploaded to a Communication Service may be subject to posted limitations on usage, reproduction, dissemination, or both. You are accountable for adhering to such limitations if you download the materials.
Except for material that we license to you, we do not claim ownership of the materials you post or provide on the Site, Service, or associated services (collectively "Submissions").
However, you grant ForwardAI, our associated companies, and the appropriate sublicensees permission to use your Submission to connect with their Internet businesses' operation by publishing, uploading, inputting, supplying, or submitting your Submission. It includes, without limitation, the rights to copy, distribute, transfer, publicly view, publicly perform, reproduce, edit, translate and reformat your Submission.
No compensation is provided for the use of your Submission. ForwardAI is under no obligation to post or use any Submission that you may provide and may remove any Submission at any time by sole discretion.
You warrant and represent that you own or otherwise control all the rights to your Submission. As defined in this section, including, without limitation, all the rights necessary for you to submit, post, upload, input, or submit your Submissions by publishing, uploading, inputting, providing, or submitting your Submission.
Certain links on the Site may take you to other websites ("Linked Sites"). We provide these links only as a convenience and is not responsible for the content of any such linked pages. We make no representation or warranty regarding and do not endorse any linked websites, any information, material, or content included in or referred to thereon, or any of the products or services described.
ForwardAI makes certain services available that are delivered by third-party sites and organizations. You accept and agree that we may share such information and data with any third party with whom we have a contractual relationship to provide the requested product, service or functionality on behalf of our users and customers, by using any product, service or functionality originating from our domain.
When you connect a third-party app to your ForwardAI account, you grant that app access to use your account. Depending on its permissions, an authorized app may be able to obtain information from your account. By connecting your ForwardAI account to your third-party account, you acknowledge and agree that you consent to the continuous release of information about you to others (per your privacy settings on those third-party sites). If you do not want to share information about yourself, do not use this feature.
Proof of Identity
Guidelines in financial & digital-assets related services are required to comply with Know Your Client ("KYC") and Anti Mondy Laundering("AML"). We may request documents and records, including but not limited to copies (e.g. passport, driver's license) of your government-issued identification card. We may require identifying details related to the directors, officers, or equity business owners for corporate accounts. We may also use third party information to confirm your identity and/or decide your identity. At all times, you reflect and warrant that all information given to us by you is real, reliable, and in no way misleading. If any such information changes, it is your responsibility to provide us with the new information as soon as possible after that update. We may refuse to execute, block, or otherwise void any service delivery agreement that ForwardAI reasonably believes is believes could violate any law or regulation. We may disclose information to third parties about you, your account, or the services delivered to conduct our AML and KYC checks.
ForwardAI services are not to be used by current residents of Iran, North Korea, Syria, the Crimea Region of Ukraine, or any other country and/or region sanctioned by USA FinCEN and by Canada Fintrac. You agree that you will not use the ForwardAI Content accessed through the Site in any country or any manner prohibited by any applicable laws, restrictions, or regulations.
You agree to indemnify, protect and hold harmless ForwardAI, its officers, directors, staff, agents, and third parties for any damages, expenses, liabilities, and expenses (including fair attorneys' fees) arising out of or in connection with your use of or inability to use the Site or services, any user posts made by you, your breach of any terms of this Agreement or your violation of any right to use the Site or services, any user posts made by you, your infringement of any terms of this Agreement, or your infringement of any third party privileges, or your infringement of any relevant rules, or regulations. We reserve the right to assume, at our own expense, the sole protection and control of any matter otherwise subject to reimbursement from you, in which case you will cooperate entirely with ForwardAI to claim any available defenses.
The intent is to ensure that service availability requirements are appropriately set and consistently met. ForwardAI shall not be liable for any disruption to the Site, irrespective of the duration. ForwardAI will not be responsible for damages related to the user's failure to access content due to website interruptions. ForwardAI shall be excused from performing any obligations under this Agreement prohibited or interfered with by actions or circumstances beyond ForwardAI's fair control.
Financial Insights, Analytics & Forward-looking financial forecasts
The "As Is", "at Your Own Risk" and "As Available" information and other content available via the Web are given without any guarantee whatsoever. ForwardAI does not take responsibility for the accuracy, merchantability, or completeness of the information, services, or other content on the Web, even though ForwardAI has attempted to provide accurate information on the Site. The information and all other materials on the Web are given solely for general information and do not constitute professional advice of any sort. ForwardAI does not warrant that the information will comply with the customer's requirements and that the operation of the Services will be uninterrupted or error-free or that there will be no viruses or bugs on the Web or the server that makes it available.
You accept that all financial analysis and outputs and the assumptions used to measure the user's financial statements and by any third-party web application such as QuickBooks Online, Xero, etc., are not a guaranteed result. The financial analysis does not guarantee a business's future financial results and is an estimation only. Any ForwardAI-calculated Financial Health Score is an estimation and not a promise to access any credit services.
ForwardAI web application, analysis, assumptions, calculations, and reporting are estimates only and not a determination of the business's actual financial health and may or may not conform to all IFRS and GAAP requirements.
The user is presumed to have a basic understanding and a moderate financial background of their specific sector's market, terminology, and operations. ForwardAI.com Inc. does not claim to have the same familiarity or day-to-day knowledge of the Company clients/subscribers' business as the client/subscriber does.
The marketplace for ForwardAI sets out the types of products that can be ordered by borrowers through the Service. If a Borrower or the Advisor wishes to make a Product Request using our Services, the Borrower or the Advisor (as applicable) must:
- Ensure that the Borrower is entitled to apply for the particular Product(s)
- Complete & submit the relevant product application on the Site, and
- Submit any additional Borrower information requested on the application form.
The Borrower acknowledges that ForwardAI may conduct searches for any additional publicly available information to verify information provided by the Borrower or the Advisor. After the request for the Product(s) and all necessary details has been submitted by a Borrower under these Terms, our framework algorithm will:
- analyze the Borrower Information and the Product requirements; and
- match the Borrower with one or more Lenders who offer the requested Products.
As the availability of Products may vary from time to time, we do not guarantee that every Product Request will be matched with the Lenders or that each Product Request will result in Lenders' offer.
As the risk exposure for each Product Request may vary from time to time, we don't guarantee that every Product Request will be matched with the Lenders or that each Product Request will result in Lenders' offer.
ForwardAI takes confidentiality very seriously and takes the utmost care to protect users' personal information. During the loan application process, we will share some of Borrower's confidential information with the Lender. It is the Lender's responsibility:
- Not to use it in any other way than to share it
- Not to share it with any entity or personnel other than the one who needs the information for the needed process
- Not to store the Borrower's information unless needed by any applicable law or by a court or regulatory body
- If needed, disclose it to the extent required by any applicable law or by a court or regulatory body
Suppose a Borrower has been matched with one or more Lenders. In that case, the ForwardAI will disclose the Borrower's Product Request and Borrower's required information to the Lenders by email, phone and/or via the Lender's dashboard, whatever is applicable.
The following information will be presented to the applicable Lender (s):
- Product requested
- Amount of funding requested
- Borrower's name
- Owner(s)/ Director(s) name
- Borrower's sales data such as gross sales, accounts receivables, accounts payable, etc.
- Borrower's contact details
- Any other information provided by the Borrower or the Advisor
- If applicable, all publicly available information relating to the Borrower
- Any data obtained from a third-party website or application if, for this reason, the Borrower or Advisor has provided login information for that website or application.
The application will be treated as the Borrower's Confidential Information under these Terms. The Lender (s) will use the disclosed information solely to consider the Product Request. Should a Lender fail to keep the Borrower's information confidential, they must indemnify Borrower and ForwardAI any loss suffered or incurred per these Terms.
Once a Lender has received notification from ForwardAI, it may, in its sole discretion, conduct further checks to assess whether it wishes to offer the Borrower a Product. The Lender will not conduct any consumer credit checks unless it has given reasonable notice to the Borrower that it intends to do so.
If Lender needs to advance negotiations with the Borrower about the Product request, the Borrower will be informed by email and/or the Service. The Borrower and Lender would then be able to communicate directly with the Product Request through the Service. The Borrower will be automatically informed by email and/or the Service if a Lender does not wish to pursue a Product request.
ForwardAI cannot guarantee that any Lender, or any particular Lender(s), will make an offer for a Product to any Borrower through the Service, or that any Product Request will lead to a Finance Agreement.
In their sole discretion, lenders may decide not to pursue any commercial discussions with a Borrower following notification from us.
A Lender must notify ForwardAI promptly and in any event within 5 business days, if and when:
- The Lender makes an offer to a Borrower for a Product offline; and
- The Lender enters into a Finance Agreement and/or any other related agreement relating to a Product with a Borrower as a result of the introduction made via ForwardAI, in which case the Lender must also provide ForwardAI with a copy of the Finance Agreement and any other related details that we reasonably require, including details regarding the Product size and tenure.
ForwardAI may contact the Borrower to verify the information provided by the Lender. You are individually responsible for your interactions with other users via the Service. ForwardAI reserves the right but is not obliged to monitor actions and disputes between you and other users via the Service.
Suppose a Lender notifies ForwardAI that a Borrower has defaulted or otherwise breached the terms of a Finance Agreement. In that case, we reserve the right to suspend and/or terminate that Borrower's access to the Service.Commission
The Lender must pay ForwardAI the applicable Commission as per the terms agreed.
If & where applicable, the Advisor may be entitled to a share of Commission received by ForwardAI and payable by the Lender.
When a Lender accepts to finance a Borrower, ForwardAI will immediately notify the Borrower of the Commission that would be payable by the Lender to ForwardAI based on the submitted Product in the notification center. We will supply separate notifications for each Lender.
The Commission from a Lender will be paid to ForwardAI only after a Financing Agreement has been entered between the Borrower and the Lender and funds have been disbursed.
The information, software, products, and services included in or available through the Site may contain inaccuracies or typographical errors. Changes are periodically added to the information herein. ForwardAI.com Inc. and/ or its suppliers may make improvements and/or changes in the Site at any time.
ForwardAI.com Inc. and/ or its suppliers make no representations about the suitability, reliability, availability, timeliness, and accuracy of the information, software, products, services, and related graphics contained on the Site for any purpose. To the maximum extent permitted by applicable law, all such information, software, products, services, and related graphics are provided “as is” without warranty or condition of any kind. ForwardAI.com Inc. and/ or its suppliers hereby disclaim all warranties and conditions concerning this information, software, products, services, and related graphics, including all implied warranties or conditions of merchantability, fitness for a particular purpose, title, and non-infringement.
ForwardAI reserves the right, in its absolute discretion, to terminate, at any time without warning, your access to the Site and the related services or any portion thereof. To the maximum extent permitted by law, this Agreement is governed by Barbados' laws, and you hereby consent to the exclusive jurisdiction and venue of courts in Barbados in all disputes arising out of or relating to the use of the Site.
Use of the Site is unauthorized in any jurisdiction that does not give effect to all provisions of these Terms, including, without limitation, this section.
You agree that no joint venture, partnership, employment, or agency relationship exists between you and ForwardAI due to this Agreement or use of the Site. ForwardAI' performance of this Agreement is subject to existing laws and legal process, and nothing contained in this Agreement is in derogation of ForwardAI' right to comply with governmental, court, and law enforcement requests or requirements relating to your use of the Site or information provided to or gathered by ForwardAI with respect to such use.
Suppose any part of this Agreement is determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and liability limitations set forth above. In that case, the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the original provision's intent, and the remainder of the Agreement shall continue in effect.
Unless otherwise specified herein, this Agreement constitutes the entire Agreement between the User and ForwardAI concerning the Site, and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral or written, between the user and ForwardAI concerning the Site. A printed version of this Agreement and any notice given in electronic form shall be admissible in judicial or administrative proceedings based upon or relating to this Agreement to the same extent and subject to the same conditions as other business documents and records originally generated maintained in printed form. It is the parties' express wish that this Agreement and all related documents be written in English.
Changes to Terms
ForwardAI reserves the right, in its sole discretion, to change the Terms under which ForwardAI is offered. The most current version of the Terms will supersede all previous versions. ForwardAI encourages you to review the Terms to stay informed of our updates periodically.
ForwardAI welcomes your questions or comments regarding the Terms using the “Contact us” form on the Site.
These Terms of Service agreement is effective as of Jan 1st, 2021.