Terms of Service
Last updated: September 30, 2026
Operated by: OnRecord Limited - NZBN: 9429054001206 ("OnRecord", "we", "us", or "our"), a company incorporated in New Zealand.
Please read these Terms of Service ("Terms") carefully before using the OnRecord web application located at app.onrec.io or related domains (the "Service").
1. Acceptance of Terms
By creating an account, clicking "Sign up", starting a trial, or otherwise accessing or using the Service, you ("Customer", "Founder", or "you") agree to be bound by these Terms. If you are accepting 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. Business Use & New Zealand Consumer Law
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.
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. Accounts & Security
3.1. You must provide accurate, current, and complete information during registration and keep your account details updated.
3.2. You are responsible for safeguarding your login credentials and for all activities that occur under your account. You must notify us immediately at support@onrec.io of any unauthorized access or security breach.
4. Subscriptions, Free Trial & Billing
4.1. Free Account & Access: An unsubscribed free account allows you to configure your company profile and prepare drafts. Creating, generating, downloading PDF updates, or copying cover notes requires an active trial or paid subscription.
4.2. 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 initiate the trial.
You will not be charged during the 60-day trial period.
4.3. Automatic Renewal:
Unless cancelled prior to 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.
4.4. 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 authorization rules.
4.5. Cancellation:
You may cancel your subscription at any time via the Settings → Manage billing screen in the app, which links directly to the Stripe Customer Portal.
Upon 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.
4.6. Refunds: All subscription fees paid are non-refundable and there are no prorated credits for partial billing periods, except where required by applicable law.
4.7. Price Adjustments: We reserve the right to revise our monthly pricing upon at least 30 days’ notice to you via email or in-app notification before the new rate applies to your next renewal.
5. Fair Use & Generation Limits
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 reserve the right to suspend or throttle accounts that attempt automated scraping, reverse engineering, or systematic excessive use of our generation endpoints.
6. AI Features & Founder Responsibility
6.1. Role of AI: The Service uses artificial intelligence and large language models (LLMs) to tidy your rough notes, format financial metrics, and assist in structuring your one-page investor letters.
6.2. 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.
6.3. 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. The generation of an update does not constitute an offer, solicitation, or recommendation regarding your company’s securities.
7. Intellectual Property & Customer Data
7.1. Your Data & Logos: You retain all intellectual property rights, title, and ownership in and to the data, numbers, notes, logos, text, and materials you submit to OnRecord ("Customer Data"). You grant OnRecord Limited a limited, worldwide, non-exclusive license to host, copy, process, and display your Customer Data solely to the extent necessary to provide the Service to you.
7.2. 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.
8. Warranties & Disclaimers
8.1. "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.
8.2. We do not warrant that the Service will be uninterrupted, error-free, completely secure, or that generated updates will guarantee investor satisfaction or future funding.
9. Limitation of Liability
To the maximum extent permitted by New Zealand law (including the Contract and Commercial Law Act 2017):
9.1. 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.
9.2. 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).
10. Suspension & Termination
We reserve the right to 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.
11. Governing Law & Dispute Resolution
11.1. These Terms, and any disputes or claims arising out of or in connection with them or the Service, shall be governed by and construed in accordance with the laws of New Zealand.
11.2. 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.
12. Modifications to Terms
We may revise these Terms from time to time. If we make material changes, we will notify you by email or via a prominent notification within the app at least 14 days before the changes take effect. Your continued use of OnRecord following the effective date of any changes constitutes acceptance of the updated Terms.
13. Contact Information
For any legal inquiries, support questions, or notices under these Terms, please contact:
OnRecord Limited
Email: support@onrec.io
Website: https://www.onrec.io