Terms of Service
TRAACT, INC.
TERMS OF SERVICE
Last Updated: July 22, 2025
This Terms of Service (this “Agreement”), together with any and all Order Forms (as defined below), constitutes a binding agreement between you, as an individual to the extent you are accessing the Service in your individual capacity, or the organization that you represent (“-you”, “your” or “Customer”) to include all individuals you authorize to access your account, and governs your use of Traact, Inc.’s (“Traact”) Services (as defined below). By signing up to use the Services, you agree to be bound by this Agreement, Traact’s Privacy Policy (available at https://www.traact.com/privacy), and, to the extent applicable, Traact’s Data Protection Addendum (available at [URL]) (the “DPA”). Customer and Traact are referred to herein individually as a “Party” and collectively as the “Parties”. In the event of a conflict between the terms and conditions of the applicable Order Form and this Agreement, the Order Form will govern.
Traact has developed a proprietary software tool (the “Software”) to assist users in managing corporate entities, administering related functions, and completing certain other compliance tasks. Pursuant to this Agreement and the relevant Order Form (as modified from time to time), Traact shall provide Customer with access to the Software and Documentation (as defined below) (collectively, the “Services”).
Services.
Services. Subject to this Agreement, Customer may use the Services solely for its own internal business purposes during each Subscription Term (“Permitted Use”). This includes the right to use the Documentation as part of Customer’s Permitted Use. Customer will comply with the Documentation in using the Services. As used herein, “Documentation” means Traact’s standard usage documentation for the Services. Customer’s access to, and use of the Services shall be subject to the terms and conditions of one or more order forms to be entered into between Traact and Customer, or other online or offline instrument used to register for the Services (each, an “Order Form”).
Modifications to the Services. Traact may modify and/or update the Software from time to time, so long as such modification(s) do not materially reduce the Software’s performance or capabilities. Traact shall have no liability for any damage, liabilities, losses (including any loss of data or profits), or any other consequences that Customer, any of Customer’s Users, or any other third party may incur as a result of modifications to the Software in accordance with this Section 1.2.
Support. Traact will use commercially reasonable efforts to provide Support for the Services, in accordance with its then-current support policies and subject to its available resources.
Users. Customer is responsible for provisioning and managing its User accounts, for its Users’ actions through the Services and for their compliance with this Agreement. Customer will ensure that Users keep their login credentials confidential and will promptly notify Traact upon learning of any compromise of User accounts or credentials. As used herein, “User” means anyone that Customer authorizes to use the Services. Users may include, for example, Customer’s and its Affiliates’ employees, consultants, clients, external users, contractors, agents, and third parties with which Customer does business
Financial Terms.
Fees. In consideration for the Services, Customer shall pay to Traact the fees set forth in the applicable Order Form (the “Fees”) and any applicable expenses in accordance with this Section 2. If Customer’s payment of the Fees is subject to recurring charges, then Customer hereby consents to Traact’s charging Customer’s payment method on record with Traact on a recurring basis without requiring Customer’s prior approval for each recurring charge, until termination of this Agreement or any applicable Order Form. Traact may update its pricing at any time and reserves the right to correct any errors or mistakes in pricing, even if Traact has already requested or received payment. Traact also reserves the right to refuse any order placed with respect to the Services. All Fees and expenses are non-refundable except as expressly set out in this Agreement.
Invoices. Unless otherwise indicated on an Order Form, all invoices shall be due and payable within ten (10) days of the date of the invoice, and may be satisfied via an automatic charge to the credit card Customer keeps on file in Customer’s online account with the Services. Customer hereby agrees that Traact may charge any such credit card in Customer’s account for any Fees incurred by the Customer.
Method of Payment. Unless Traact states otherwise in writing, all amounts due and payable hereunder shall be paid (a) in U.S. Dollars, and (b) by credit/debit card via an authorized Traact payment processor, by automated clearing house transfer or by any other method approved in writing by Traact. Customer agrees to provide current, complete and accurate purchase and account information for all purchases made with respect to the Services. Customer further agrees to promptly update account and payment information, including email address, payment method and payment card expiration date, so that Traact can complete such transactions and contact Customer as needed.
Interest and Taxes. Interest on any late payments will accrue at the rate of 1.5% per month, or the highest rate permitted by applicable law, whichever is lower, from the date such amount is due until the date such amount is paid in full. Customer will be responsible for, and will pay all sales and similar taxes, and all similar fees levied upon the provision of the Software and the Services, excluding only taxes based solely on Traact’s income. Customer will indemnify and hold Traact harmless from and against any and all such taxes and related amounts levied upon the provision of the Services and any costs associated with the collection or withholding thereof, including penalties and interest.
Additional Fees. Customer shall pay any additional fees associated with selected products or services not included in the subscription plan that are agreed to and separately delineated as described in the Order Form.
Customer Restrictions and Responsibilities.
Restrictions on Use of the Services. Except as expressly authorized by this Agreement, Customer may not: (a) modify, disclose, alter, translate or create derivative works of the Services (or any components of the foregoing); (b) sublicense, resell, distribute, lease, rent, lend, transfer, assign or otherwise dispose of the Services (or any components of the foregoing); (c) reverse engineer, disassemble, decompile, decode, adapt, or otherwise attempt to derive or gain access to any source code, object code, or underlying structure, ideas, or algorithms of the Services, in whole or in part; (d) use the Services to store or transmit any viruses, software routines or other code designed to permit unauthorized access, to disable, erase or otherwise harm software, hardware or data, or to perform any other harmful actions; (e) use the Services in any manner or for any purpose that infringes, misappropriates, or otherwise violates any intellectual property right or other right of any person, or that violates any applicable Laws; (f) interfere with or disable any features, functionality, or security controls of the Services or otherwise circumvent any protection mechanisms for the Services; (g) copy, frame or mirror any part or content of the Services; (h) build a competitive product or service, or copy any features or functions of the Services; (i) interfere with or disrupt the integrity or performance of the Services; (j) attempt to gain unauthorized access to the Services or related systems or networks; (k) disclose to any third party any performance information or analysis relating to the Services; (l) use the components of the Service or allow the transfer, transmission, export or re-export of such software components or any portion thereof in violation of any export control Laws administered by the U.S. Commerce Department, OFAC, or any other government agency; (m) remove, alter or obscure any proprietary notices in or on the Services, including any copyright notices; (n) access the Services through automated or non-human means, whether through a bot, script or otherwise; or (o) cause its personnel or any third party to do any of the foregoing. Customer will use its best efforts to prevent unauthorized access to, and use of, any passwords, and will immediately notify Traact in writing of any unauthorized use that comes to Customer’s attention. Notwithstanding anything to the contrary in this Agreement, Traact may temporarily suspend or permanently revoke Customer’s access to the Services if Traact determines or reasonably suspects that Customer has or intends to violate, or has assisted others in violating or preparing to violate, any provision of this Section 3 (any such temporary suspension, a “Service Suspension” and any such revocation, a “Service Revocation”). Traact shall have no liability for any damage, liabilities, losses (including any loss of data or profits), or any other consequences that Customer or any third party may incur as a result of a Service Suspension or Service Revocation, and Customer shall not be entitled to any refunds of any Fees on account of any Service Suspension or Service Revocation. Any breach by Customer of any provision of this Section 3 shall be an incurable material breach and will entitle Traact to terminate this Agreement and any Order Forms immediately pursuant to Section 10.2(a).
Customer Responsibilities. Customer shall be solely responsible for: (a) obtaining and maintaining any equipment and ancillary services needed to connect to, access or otherwise use the Services; (b) maintaining the security and accuracy of Customer’s infrastructure, equipment, accounts, passwords (including but not limited to administrative and user passwords) and files; (c) providing Traact and its personnel with support and system access needed to perform the Services; and (d) all acts and omissions of Users in connection with their use of the Services.
Confidentiality.
Definition. “Confidential Information” means all information disclosed (whether in oral, written, or other tangible or intangible form) by one Party (the “Disclosing Party”) to the other Party (the “Receiving Party”) concerning or related to this Agreement or the Disclosing Party (whether before, on, or after the Effective Date) that is marked “Confidential” or “Proprietary” or with similar designation by the Disclosing Party, or that otherwise should reasonably be deemed to be confidential based on the context and nature of the information. Confidential Information includes, but is not limited to, computer programs in source and/or object code, technical drawings, algorithms, know-how, prototypes, models, samples, formulas, processes, ideas, inventions (whether patentable or not), discoveries, methods, strategies and techniques, research, development, design details and specifications, financial information, procurement and/or purchasing requirements, customer lists, information about investors, employees, business or contractual relationships, sales and merchandising data, business forecasts and marketing plans, and similar information.
Obligations. The Receiving Party shall maintain in confidence the Confidential Information during the term of this Agreement and for a period of two (2) years thereafter, and will not use such Confidential Information except as expressly permitted in this Agreement; provided, however, that any trade secrets shall be treated confidentially for so long as such information qualifies for protection as trade secret under applicable law. The Receiving Party will use the same degree of care in protecting the Confidential Information as the Receiving Party uses to protect its own confidential and proprietary information from unauthorized use or disclosure, but in no event less than reasonable care. Confidential Information will be used by the Receiving Party solely for the purpose of carrying out the Receiving Party’s obligations under this Agreement. In addition, the Receiving Party will only disclose Confidential Information to its directors, officers, employees and/or contractors who have a need to know such Confidential Information in order to perform their duties under this Agreement, and only if such directors, officers, employees and/or contractors are bound by confidentiality obligations with respect to such Confidential Information no less restrictive than the non-disclosure obligations contained in this Section 4.2. The Parties agree that Customer Data (as defined below) shall be considered Customer’s Confidential Information and the terms and conditions of this Agreement will be treated as Confidential Information of both Parties and will not be disclosed to any third party; provided, however, that each Party may disclose the terms and conditions of this Agreement (a) to such Party’s legal counsel, accountants, banks, financing sources and their advisors, (b) in connection with the enforcement of this Agreement or rights under this Agreement, or (c) in connection with an actual or proposed merger, acquisition, or similar transaction.
Exceptions. Notwithstanding anything to the contrary herein, Confidential Information will not include information that: (a) is in or enters the public domain without breach of this Agreement and through no fault of the Receiving Party; (b) the Receiving Party can reasonably demonstrate was in its possession prior to first receiving it from the Disclosing Party; (c) the Receiving Party can demonstrate was developed by the Receiving Party independently, and without use of or reference to, the Confidential Information; or (d) the Receiving Party receives from a third party without restriction on disclosure and without breach of a nondisclosure obligation. In addition, the Receiving Party may disclose Confidential Information that is required to be disclosed by applicable Laws or by a subpoena or order issued by a court of competent jurisdiction or other governmental authority (each, an “Order”), but solely on the conditions that the Receiving Party, to the extent permitted by applicable Laws: (i) gives the Disclosing Party written notice of the Order promptly after receiving it; and (ii) cooperates fully with the Disclosing Party before disclosure to provide the Disclosing Party with the opportunity to interpose any objections it may have to the disclosure of the information required by the Order and seek a protective order or other appropriate relief. In the event of any dispute between the Parties as to whether specific information is within one or more of the exceptions set forth in this Section 4.3, the Receiving Party will bear the burden of proof, by clear and convincing evidence, that such information is within the claimed exception(s).
Remedies. The Receiving Party acknowledges that any unauthorized disclosure of Confidential Information will result in irreparable injury to the Disclosing Party, which injury could not be adequately compensated by the payment of money damages. In addition to any other legal and equitable remedies that may be available, the Disclosing Party will be entitled to seek and obtain injunctive relief against any breach or threatened breach by the Receiving Party of the confidentiality obligations hereunder, from any court of competent jurisdiction, without being required to show any actual damage or irreparable harm, prove the inadequacy of its legal remedies, or post any bond or other security.
Intellectual Property Rights.
Generally. Except as specified in Section 5.3, no provision of this Agreement shall be construed as an assignment or transfer of ownership of any copyrights, patents, trade secrets, trademarks, or any other intellectual property rights (collectively, “Intellectual Property Rights”) from either Party to the other.
Services. Traact shall own and retain all right, title and interest in and to: (a) the name, logo, trademarks, and service marks (collectively, “Marks”) associated with its business; (b) the Software and the Documentation; (c) all improvements, enhancements and modifications to the Software and the Documentation; (d) any work products or deliverables resulting from any Services provided to Customer under this Agreement (except for any work products or deliverables that is expressly set forth in an Order Form to be owned by Customer); and (e) all Intellectual Property Rights related to any of the foregoing. Traact reserves all rights in and to the Software and the Documentation not expressly granted to Customer in this Agreement. Except for the rights expressly granted in this Agreement, nothing in this Agreement grants to Customer or any third party, by implication, waiver, estoppel, or otherwise, any right, title, or interest in or to the Software or the Documentation.
Feedback. If Customer or any of its Users submits written suggestions or recommended changes to the Services, including without limitation, new features or functionality relating thereto, or any comments, questions, suggestions, or the like (collectively, the “Feedback”), Traact is free to use such Feedback regardless of any other obligation or limitation between the Parties governing such Feedback. Customer hereby assigns to Traact, on Customer’s behalf and on behalf of its Authorized Users and/or agents, all Intellectual Property Rights in and to the Feedback, for any purpose whatsoever, although Traact is not required to use any Feedback.
Use of Customer Marks. Customer shall own and retain all right, title and interest in and to the Marks relating to Customer’s business and all Intellectual Property Rights related thereto. Notwithstanding the foregoing, Traact shall have the right to use the Customer’s Marks for promotional purposes on its website and marketing materials solely to refer to Customer as a customer of Traact.
Data.
Ownership of Customer Data. All Customer Data (as defined below), including any Customer Data input into the Services by Customer or generated through Customer’s use of the Services, shall belong to Customer, provided that Traact shall have the right to access, use, and process such Customer Data to provide the Services to Customer during the term of this Agreement. Customer acknowledges and agrees that Customer is solely responsible for any and all Customer Data that is input into the Services by Customer, including such Customer Data’s legality, reliability, and appropriateness. As used herein, “Customer Data” means data uploaded by Customer or resulting from Customer’s use of the Services, including Personal Data (as defined below).
Anonymized Data. Customer acknowledges and agrees that Traact may anonymize and aggregate Customer Data in a manner that it can no longer reasonably be used to identify individuals (“Anonymized Data”). Customer grants Traact and its affiliates, an unlimited, perpetual, and irrevocable license to use the Anonymized Data for the purpose of improving the Services, to understand and analyze trends across Traact’s customers, and for any other purpose.
Data Processing Agreement. To the extent that Customer Data includes personal data subject to applicable data protection laws, including the EU General Data Protection Regulation, the Personal Information Protection and Electronic Documents Act and the California Consumer Privacy Act, the terms of the DPA shall govern the processing of such data. The Parties agree that Traact may amend the terms of the DPA from time to time to the extent that Traact reasonably determines that such amendment is necessary to comply with applicable data protection laws. The latest available version of the DPA shall govern the processing of personal data subject to applicable data protection laws.
Employee and Third Party Data. Customer acknowledges that, as part of its use of the Services, Customer may transmit their own personal data, the personal data of its employees or other personnel, and/or the personal data of third parties (collectively, the “Personal Data”). To the extent Customer transmits or inputs any Personal Data through or into the Services, Customer represents and warrants that it has obtained all legally required consent to capture, collect, display, input, share and transmit such Personal Data into and through the Services.
Representations, Warranties, Remedies and Disclaimers.
Generally. Each Party represents and warrants that (a) it is validly existing and in good standing under the Laws of the place of its establishment or incorporation, (b) it has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, (c) the person agreeing to this Agreement on its behalf has been duly authorized and empowered to enter into this Agreement, and (d) this Agreement is valid, binding and enforceable against it in accordance with its terms, except to the extent limited under Laws relating to insolvency, bankruptcy, and the like.
Traact’s Representations and Warranties. Traact warrants solely to Customer that (a) the Services will materially conform to the applicable Documentation and specifications set forth in the relevant Order Form at the time of delivery, and (b) any Services performed will be provided in a professional and workmanlike manner, consistent with industry standards. Traact does not warrant that the Services will be error-free or uninterrupted.
Customer’s Representations and Warranties. Customer represents and warrants that Customer: (a) will use the Services only in compliance with this Agreement and all applicable local, state, federal and international laws and regulations, rules, orders, and ordinances (collectively, “Laws”); (b) shall not infringe upon any third party’s Intellectual Property Rights in its use of the Services; and (c) has all rights to use Customer Data.
Disclaimer. THE SERVICES ARE PROVIDED “AS-IS” AND “AS-AVAILABLE.” EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, TRAACT DISCLAIMS ANY AND ALL REPRESENTATIONS OR WARRANTIES (EXPRESS OR IMPLIED, ORAL OR WRITTEN) WITH RESPECT TO THE SERVICES, WHETHER ALLEGED TO ARISE BY OPERATION OF LAW, BY REASON OF CUSTOM OR USAGE IN THE TRADE, BY COURSE OF DEALING OR OTHERWISE, INCLUDING ANY AND ALL: (A) WARRANTIES OF MERCHANTABILITY; (B) WARRANTIES OF FITNESS OR SUITABILITY FOR ANY PURPOSE (WHETHER OR NOT TRAACT KNOWS, HAS REASON TO KNOW, HAS BEEN ADVISED, OR IS OTHERWISE AWARE OF ANY SUCH PURPOSE); (C) WARRANTIES OF NONINFRINGEMENT OR CONDITION OF TITLE; (D) ACCURACY OR RELIABILITY OF ANY DATA PROCESSED, STORED, OR TRANSMITTED THROUGH THE SERVICES; AND (E) ANY WARRANTY THAT THE SERVICES WILL BE UNINTERRUPTED, ERROR-FREE. TRAACT’S WARRANTIES IN SECTION 7.2 DO NOT APPLY TO ISSUES ARISING FROM THIRD PARTY PLATFORMS OR MISUSE OR UNAUTHORIZED MODIFICATIONS OF THE SERVICES. THESE DISCLAIMERS APPLY TO THE FULL EXTENT PERMITTED BY LAW.
Services Not Professional Advice. CUSTOMER ACKNOWLEDGES, UNDERSTANDS, AND AGREES THAT: (a) TRAACT IS NOT A LAW FIRM AND AS SUCH TRAACT DOES NOT PROVIDE LEGAL ADVICE, OR ANY KIND OF PROFESSIONAL ADVICE, OF ANY KIND WHATSOEVER, (b) CUSTOMER IS RESPONSIBLE FOR ALL ASPECTS OF COMPLIANCE WITH APPLICABLE LAW PERTAINING TO CUSTOMER’S BUSINESS ACTIVITIES, (c) SERVICES AND ALL INFORMATION AND MATERIALS PROVIDED THEREIN ARE PROVIDED TO CUSTOMER SOLELY FOR INFORMATIONAL AND ADMINISTRATIVE PURPOSES AND DO NOT CONSTITUTE LEGAL ADVICE OR ANY OTHER FORM OF PROFESSIONAL ADVICE AND SHALL NOT BE RELIED ON BY CUSTOMER AS ANY FORM OF LEGAL OR PROFESSIONAL ADVICE, (d) THE SERVICES AND ALL INFORMATION AND MATERIALS PROVIDED THEREIN ARE NOT INTENDED TO CREATE AN ATTORNEY-CLIENT RELATIONSHIP, AND (e) TRAACT MAKES NO REPRESENTATION THAT ANY COMMUNICATIONS BETWEEN CUSTOMER AND TRAACT WILL BE SUBJECT TO ANY ATTORNEY-CLIENT PRIVILEGE. IF CUSTOMER REQUIRES LEGAL ADVICE AT ANY TIME, CUSTOMER SHALL CONSULT WITH A LICENSED ATTORNEY.
Third-Party Sites and Services. The Services may be integrated with services provided by third parties (collectively, the “Third-Party Platforms”) as part of the functionality of the Services. Customer understands that Traact does not have control over third parties and that such third parties are not agents of Traact. CUSTOMER ACKNOWLEDGES AND AGREES THAT TRAACT MAKES NO REPRESENTATION OR WARRANTY ABOUT, DOES NOT ENDORSE AND WILL NOT BE LIABLE FOR ANY THIRD PARTY’S PRODUCTS OR SERVICES OR THE INFORMATION PROVIDED BY THIRD PARTIES, WHETHER THROUGH THE SERVICES OR OTHERWISE. Accordingly, Traact is not responsible for Customer’s use of any third-party product or service or any harm or losses arising from or relating to Customer’s use of any third-party products or services. Customer should contact the third party with any questions about their products and services. Traact hereby disclaims and Customer hereby discharges, waives and releases Traact and its licensors and suppliers from any past, present, and future claims, liabilities, and damages, known or unknown, arising out of or relating to Customer’s interactions with such third parties and their products and services. The Services do not include Third-Party Platforms.
Data Maintenance. Traact will maintain certain data that Customer transmits via the Services for the purpose of managing the performance of the Services. Although Traact performs regular routine backups of data, Customer is solely responsible for all data that Customer transmits or that relates to any activity Customer has undertaken using the Services. Customer agrees that Traact shall have no liability to Customer for any loss or corruption of any such data, and Customer hereby waive any right of action against Traact arising from any such loss or corruption of such data.
Indemnification Obligations.
Customer Indemnity. Customer, at its sole expense, will defend Traact and its affiliates, directors, officers, employees, and agents (“Traact Indemnitees”) from and against any and all third-party claims, suits, actions or proceedings and indemnify Traact Indemnitees from any related damages, payments, deficiencies, fines, judgments, settlements, liabilities, losses, costs and expenses, including, but not limited to, reasonable attorneys’ fees, costs, penalties, interest and disbursements to the extent arising from or relating to (a) any negligence or willful misconduct by the Customer or any of Customer’s affiliates, directors, officers, employees, contractors and/or service providers (collectively, the “Customer Parties”); (b) any alleged or actual breach of Customer’s representations, warranties and obligations under this Agreement; (c) the use of the Services by the Customer Parties, including without limitation any claim by Customer’s employees or agents related to the use of the Services by Customer Parties; and (d) any violation of applicable Laws and Orders by Customer Parties.
Procedures. The obligations of Customer to indemnify the Traact Indemnitees pursuant to Section 8 are conditioned upon the Traact Indemnitees: (a) giving prompt written notice of the Claim to Customer once they become aware of the Claim (provided that failure to provide prompt written notice to the Customer will only alleviate an Customer’s obligations under Section 8 to the extent that any associated delay materially prejudices or impairs the defense of the related Claims); (b) granting Customer the option to take sole control of the defense (including granting Customer the right to select and use counsel of its own choosing) and settlement of the Claim (except that the Traact Indemnitees’ prior written approval will be required for any settlement that reasonably can be expected to require an affirmative obligation of the applicable Traact Indemnitees); and (c) providing reasonable cooperation to Customer and, at Customer’s request and expense, assistance in the defense or settlement of the Claim.
Limitation of Liability. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, (A) TRAACT SHALL NOT BE LIABLE FOR ANY LOSS OF PROFITS, REVENUE, OR DATA, OR FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, RELIANCE, OR CONSEQUENTIAL DAMAGES OF ANY KIND, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR THE SERVICES, REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY OR OTHERWISE, EVEN IF TRAACT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES; AND (B) TRAACT’S TOTAL AGGREGATE LIABILITY FOR ANY AND ALL CLAIMS ARISING OUT OF OR RELATED TO THIS AGREEMENT SHALL NOT EXCEED THE FEES PAID TO TRAACT BY CUSTOMER UNDER THE APPLICABLE ORDER FORM GIVING RISE TO THE CLAIM DURING THE TWELVE (12) MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT THAT GAVE RISE TO THE LIABILITY.
Term, Termination and Effect of Termination.
Term. This Agreement commences upon the Effective Date and continues in effect until the expiration of the period specified in the initial Order Form (the “Initial Term”). Thereafter, this Agreement will automatically renew for the time period specified in such Order Form (each, a “Renewal Term”), or, if no time period is specified in the Order Form, for successive twelve (12) month periods.
Termination. Notwithstanding Section 10.1, Traact may terminate this Agreement, including all related Order Forms, as follows: (a) if Customer materially breaches this Agreement (including, without limitation, any failure to timely pay Fees or comply with usage restrictions), and does not remedy such breach within ten (10) days after receiving written notice from Traact (or immediately if the breach is incurable); (b) if Customer becomes insolvent, ceases to do business in the ordinary course, makes an assignment for the benefit of creditors, admits in writing its inability to pay debts as they come due, or becomes subject to any bankruptcy, receivership, or similar proceeding; (c) at any time, upon fifteen (15) days’ written notice to Customer, Traact may terminate this Agreement for convenience; or (d) as otherwise expressly set forth in this Agreement or any applicable Order Form. Customer may only terminate this Agreement in the event of a material, uncured breach by Traact, which Traact fails to remedy within sixty (60) days following written notice from Customer describing such breach in reasonable detail. Customer shall not be entitled to terminate for convenience or without cause.
Effect of Termination. Upon any termination of this Agreement: (a) Customer’s right to access the Services will immediately cease, (b) Customer shall immediately pay to Traact all amounts due and payable up to and through the effective date of termination, (c) except for a termination by Traact pursuant to Section 10.2(c), Traact shall have no obligation to refund any prepaid Fees, and (d) the Receiving Party will, at the option of the Disclosing Party, promptly return to the Disclosing Party or destroy all Confidential Information of Disclosing Party then in the Receiving Party’s possession. Upon Traact’s termination of this Agreement pursuant to Section 10.2(c), Customer shall be entitled to a refund of Fees for any period for which Customer has already paid but will not receive Services. Notwithstanding any terms to the contrary in this Agreement, any provision of this Agreement that, by its nature and context, is intended to survive this Agreement (including, without limitation, Customer’s obligation to pay any unpaid Fees and Sections 4 through 11, inclusive) will survive any termination of this Agreement. In no event will termination relieve Customer of its obligation to pay any Fees payable to Traact prior to the effective date of termination. In addition, if Traact terminates or suspends Customer’s account for any reason, Traact reserves the right to prohibit Customer from registering and creating a new account under Customer’s name, a fake or borrowed name, or the name of any third party, even if Customer may be acting on behalf of the third party.
Right to Discontinue Services Upon Non-Renewal. Traact may, at its discretion, cease providing Services associated with an Order Form upon its termination, provided that no subsequent Order Form between the Parties is then in effect. Such cessation shall not be deemed a breach of this Agreement. Continued access to Services following the termination of an Order Form is subject to the execution of a new Order Form on mutually agreed terms.
General Provisions.
Entire Agreement. This Agreement, including all exhibits to this Agreement, all of which are incorporated herein by reference, sets forth the entire agreement and understanding of the Parties relating to the subject matter hereof, and supersedes all prior or contemporaneous agreements, proposals, negotiations, conversations, discussions and understandings, written or oral, with respect to such subject matter and all past dealing or industry custom.
Independent Contractors. Neither Party will, for any purpose, be deemed to be an agent, franchisor, franchise, employee, representative, owner or partner of the other Party, and the relationship between the Parties will only be that of independent contractors. Neither Party will have any right or authority to assume or create any obligations or to make any representations or warranties on behalf of any other Party, whether express or implied, or to bind the other Party in any respect whatsoever.
Dispute Resolution. The Parties agree to resolve any dispute, claim or controversy arising out of or relating to this Agreement according to the terms of this Section 11.3. First, the Parties agree to attempt in good faith to resolve the dispute through informal resolution. Second, if the dispute is not resolved through informal resolution, the Parties agree to participate in binding arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules in San Francisco, California. The Parties agree that, in the event of arbitration (or in the event of a lawsuit if this arbitration clause is deemed invalid or does not apply to a given dispute) the prevailing Party shall be entitled to costs and fees (including reasonable attorneys’ fees). Either Party may bring a lawsuit solely for injunctive relief without first engaging in the dispute resolution process described in this Section 11.3. In the event that the dispute resolution procedures in this Section 11.3 are found not to apply to a given claim, or in the event of a claim for injunctive relief as specified in the previous sentence, the Parties agree that any judicial proceeding will be brought in the state courts located in Santa Clara County, San Mateo County or the City and County of San Francisco, California. Both Parties consent to venue and personal jurisdiction there. ALL CLAIMS MUST BE BROUGHT IN THE PARTIES' INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING, AND, UNLESS AGREED TO OTHERWISE BY THE PARTIES, THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS.
Governing Law. The validity, interpretation, construction and performance of this Agreement, and all acts and transactions pursuant hereto and the rights and obligations of the Parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of California, without giving effect to principles of conflicts of law.
Assignment. Neither this Agreement nor any right or duty under this Agreement may be transferred, assigned or delegated by Customer, by operation of applicable Laws or otherwise, without the prior written consent of Traact, and any attempted transfer, assignment or delegation without such consent will be void and without effect. Traact may assign this Agreement at its discretion. Subject to the foregoing, this Agreement will be binding upon, and will inure to the benefit of, the Parties and their respective representatives, heirs, administrators, successors and permitted assigns.
Amendments and Waivers. No failure or delay (in whole or in part) on the part of a Party to exercise any right or remedy hereunder will operate as a waiver thereof or effect any other right or remedy. All rights and remedies hereunder are cumulative and are not exclusive of any other rights or remedies provided hereunder or by applicable Laws. The waiver of one breach or default or any delay in exercising any rights will not constitute a waiver of any subsequent breach or default. Traact reserves the right to change the terms of this Agreement from time to time, with or without notice to Customer. If Customer continues to use the Services, Customer consents to the new terms of the Agreement. Any changes to this Agreement will become effective on the “Last Updated” date indicated above.
Notices. Any notice made pursuant to this Agreement will be in writing and will be deemed delivered on (a) the date of delivery if delivered personally, (b) five (5) calendar days (or upon written confirmed receipt) after mailing if duly deposited in registered or certified mail or express commercial carrier, or (c) one (1) calendar day (or upon written confirmed receipt) after being sent by email, addressed to Customer at the address or email address on record with Traact in Customer’s account information, or addressed to Traact at the address or email address set forth in the section titled “Contact Traact” below, or to such other address or email address as may be hereafter designated by either Party. Any notice to Customer pertaining to an Order Form may be made by Traact to the contact listed by Customer for such purpose in the applicable Order Form. Notwithstanding the above, Customer consents to receive electronic communications, and Customer agrees that all agreements, notices, disclosures, and other communications that Traact provides to Customer electronically, via email and the Services, satisfy any legal requirement that such communication be in writing. CUSTOMER HEREBY AGREES TO THE USE OF ELECTRONIC SIGNATURES, CONTRACTS, ORDERS AND OTHER RECORDS, AND TO ELECTRONIC DELIVERY OF NOTICES, POLICIES AND RECORDS OF TRANSACTIONS INITIATED OR COMPLETED BY TRAACT OR VIA THE SERVICES.
Severability. If any provision of this Agreement is invalid, illegal, or incapable of being enforced by any rule of law or public policy, all other provisions of this Agreement will nonetheless remain in full force and effect. Upon such determination that any provision is invalid, illegal, or incapable of being enforced, the Parties will negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled.
Force Majeure. Traact will not be responsible for any failure to perform or delay attributable in whole or in part to any cause beyond its reasonable control including, but not limited to, natural disasters (fire, storm, floods, earthquakes, etc.), a pandemic, acts of terrorism, civil disturbances, disruption of telecommunications, disruption of power or other essential services, interruption or termination of any third party services, labor disturbances, vandalism, cable cut, computer viruses or other similar occurrences, or any malicious or unlawful acts of any third party.
Construction. This Agreement shall be deemed to be the product of all of the Parties, and no ambiguity shall be construed in favor of or against any one of the Parties.
Publicity. Customer consents to Traact’s use of Customer’s name and logo on the Traact website, identifying Customer as a customer of Traact.
U.S. Government Rights. To the extent applicable, the Services is “commercial computer software” or a “commercial item” for purposes of FAR 12.212 for and DFARS 227.7202. Use, reproduction, release, modification, disclosure or transfer of the Services is governed solely by the terms of this Agreement, and all other use is prohibited.