Terms and Conditions

1. Our Services

The information provided through the Services is not intended for distribution to or use by any person or entity in any jurisdiction where such distribution or use would be contrary to law or regulation. Those who access the Services from other locations do so on their own initiative and are solely responsible for compliance with local laws.

The Services are offered as:

• Novus Cloud: a web-based application hosted on our secure infrastructure, for FATCA and CRS reporting.
• Assisted IRS 1099 preparation: our team prepares IRIS-ready and IDES files with you, for you to submit.
• Novus Desktop: a locally installed application that processes data on your machine without transmitting client financial data to our servers. Novus Desktop is in private testing, with early access opening in 2027.
• Air-gapped deployment: an Enterprise option in which Novus Desktop runs on an isolated machine with no network connection.

2. Regulatory registration and compliance disclaimer

2.1 Your responsibility for registration

You acknowledge that you are a “Reporting Financial Institution” (RFI), or act for one, under applicable Indian and international laws. It is solely your responsibility to: (a) register with the Indian Income Tax Department’s reporting portal or the applicable foreign tax authority portal; (b) obtain and maintain a valid ITDREIN (Income Tax Department Reporting Entity Identification Number), GIIN or the equivalent identifier for your jurisdiction; and (c) appoint a Designated Director or Responsible Officer with a valid Digital Signature Certificate (DSC) where returns must be signed. Binari Software (Novus Compliance) does not provide registration identifiers and cannot file returns for unregistered entities.

2.2 Scope of Service (software and preparation only)

The Service is limited to processing data and generating reports that conform to the schemas published by the relevant tax authority, including FATCA XML v2.0.1, CRS XML Schema v3.0 and jurisdiction-specific formats such as India’s Form 61B and Luxembourg’s AEOI_LUX_V3.0, together with encrypted filing packages where the channel requires them (for example, IRS IDES). The Service does not constitute: (a) legal or tax advice; (b) legal representation before tax authorities; or (c) the act of filing. Submitting the generated report or package to the government portal is solely your responsibility. Novus Compliance does not transmit filings to tax authorities on your behalf.

2.3 Accuracy of filings

Binari Software ensures the technical validity of the XML files generated (schema validation). The accuracy, completeness and truthfulness of the financial data entered into the system is solely your responsibility. Binari Software is not liable for rejections, inquiries or penalties arising from incorrect data you provide.

2.4 Non-agency

Using the Services does not create an agent–principal relationship between Binari Software and you for tax purposes. We are a technology provider, not a tax intermediary.

3. Data validation and AI

This section explains how the Services validate your data and the commitments we make about AI.

3.1 Validation in Novus Cloud

Before generating your XML, Novus Cloud checks every record against input rules, the regulator’s business rules and the official XSD schema, and flags each issue with a plain-language reason so you can fix it. Validation flags issues; it does not change your data.

3.2 AI review in Novus Desktop (early access 2027)

Novus Desktop adds an on-device AI model that reviews records for anomalies that rules cannot express. The model runs locally on your machine: no data, and no AI queries, are sent to any external system. Its findings stay on your machine.

3.3 Our AI commitments

• Developed in-house. Our AI validation is developed and operated by Binari Software. We do not send your data to OpenAI, Google, Anthropic, Meta, Microsoft or any other external AI or large language model provider.
• No training on your data. Client data is never used to train, fine-tune or improve our AI models.
• No cross-customer learning. Nothing learned from one client’s data is applied to another client’s data.

3.4 Validation does not replace human review

Automated and AI-assisted validation are support tools, not a substitute for human judgment. You remain responsible for reviewing all data before submission and decide whether to file.

3.5 Further details

How we collect, process and retain data is set out in our Privacy Policy. By accepting these Terms and Conditions, you also acknowledge the Privacy Policy.

4. Intellectual property rights

Our intellectual property

We own or license all intellectual property rights in our Services, including source code, databases, functionality, software, website designs, text and graphics (the “Content”), and the trademarks, service marks and logos they contain (the “Marks”). Our Content and Marks are protected by copyright and trademark laws in India and around the world.

Your use of our Services

Subject to your compliance with these Terms and Conditions, we grant you a non-exclusive, non-transferable, revocable licence to access the Services solely for your internal business compliance purposes. You may not reproduce, reverse-engineer or exploit the Services for any commercial purpose (such as resale) without our express prior written permission.

Your data

We claim no intellectual property rights over the financial data you upload. You retain all rights to your data. You grant us a limited licence to access, store (where applicable) and process it solely to provide the Services to you (validating data and generating reports and filing packages) and for troubleshooting.

5. User representations

By using the Services, you represent and warrant that: (1) all registration information you submit is true, accurate, current and complete; (2) you have the legal capacity to, and agree to, comply with these Terms and Conditions; (3) you are not a minor in the jurisdiction in which you reside; (4) you will not access the Services through automated or non-human means, whether through a bot, script or otherwise, except through interfaces we provide for that purpose; and (5) your use of the Services will not violate any applicable law or regulation.

6. Purchases, payment and cancellation

Payment. We accept major credit cards and online payment methods. You agree to provide current, complete and accurate purchase and account information, and to pay all charges at the prices then in effect for your purchases, plus any applicable taxes (including GST).

Subscriptions. Your subscription renews automatically at the end of each billing cycle unless cancelled. You consent to our charging your payment method on a recurring basis.

Cancellation and refunds. You can cancel your subscription at any time from your account. Cancellation takes effect at the end of the current paid term. All purchases are non-refundable.

7. Prohibited activities

You may not access or use the Services for any purpose other than that for which we make them available. You agree not to:

• Systematically retrieve data from the Services to create a collection, compilation, database or directory.
• Circumvent, disable or otherwise interfere with security-related features of the Services.
• Engage in unauthorised framing of or linking to the Services.
• Upload or transmit viruses, Trojan horses or other material that interferes with the use of the Services.
• Decipher, decompile, disassemble or reverse-engineer any of the software comprising the Services, including the AI validation described in Section 3.
• Use the Services to complete a competitive analysis or build a product that competes with Novus Compliance.
• Attempt to probe, scan or test the vulnerability of the Services, or attempt to extract, replicate or retrain our AI models.

8. Privacy Policy

We care about data privacy and security. Please review our Privacy Policy. By using the Services, you agree to be bound by our Privacy Policy, which is incorporated into these Terms and Conditions. You acknowledge that the Services are hosted in India.

9. Term and termination

These Terms and Conditions remain in full force and effect while you use the Services. We reserve the right, in our sole discretion and without notice, to deny access to and use of the Services to any person for breach of any representation, warranty or covenant in these Terms and Conditions. We may terminate your use of the Services or delete your account at any time, without warning, in our sole discretion.

10. Modifications and interruptions

We cannot guarantee the Services will be available at all times. We may experience hardware, software or other problems resulting in interruptions, delays or errors. We reserve the right to change, revise, update, suspend, discontinue or otherwise modify the Services at any time or for any reason without notice. You agree that we have no liability for any loss, damage or inconvenience caused by your inability to access or use the Services during any downtime.

11. Governing law and dispute resolution

These Terms and Conditions are governed by the laws of India. You and Binari Software irrevocably agree that the courts of Pune, Maharashtra have exclusive jurisdiction to resolve any dispute arising in connection with these Terms and Conditions.

12. Disclaimer

THE SERVICES ARE PROVIDED ON AN “AS-IS” AND “AS-AVAILABLE” BASIS. TO THE FULLEST EXTENT PERMITTED BY LAW, WE DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. WE MAKE NO WARRANTIES ABOUT THE ACCURACY OR COMPLETENESS OF THE SERVICES’ CONTENT. WE ASSUME NO LIABILITY FOR ANY (1) ERRORS, MISTAKES OR INACCURACIES OF CONTENT, (2) UNAUTHORISED ACCESS TO OR USE OF OUR SECURE SERVERS AND/OR ANY FINANCIAL INFORMATION STORED THEREIN, OR (3) ANY BUGS OR VIRUSES WHICH MAY BE TRANSMITTED TO OR THROUGH THE SERVICES.

13. Limitation of liability

IN NO EVENT WILL WE BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES, INCLUDING LOST PROFIT, LOST REVENUE, LOSS OF DATA OR OTHER DAMAGES ARISING FROM YOUR USE OF THE SERVICES, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

14. Indemnification

You agree to defend, indemnify and hold us harmless from and against any loss, damage, liability, claim or demand, including reasonable attorneys’ fees, made by any third party due to or arising out of: (1) your use of the Services; (2) breach of these Terms and Conditions; (3) your violation of the rights of a third party; or (4) any overt harmful act toward any other user of the Services.

15. User data and backups

We maintain certain data that you transmit to the Services for the purpose of managing their performance. Although we perform regular routine backups, you are solely responsible for all data that you transmit or that relates to any activity you have undertaken using the Services. You agree that we have no liability to you for any loss or corruption of such data. Data retention and deletion timelines are set out in our Privacy Policy.

16. Electronic communications

You consent to receive electronic communications, and you agree that all agreements, notices, disclosures and other communications we provide to you electronically, by email and on the Services, satisfy any legal requirement that such communication be in writing.

17. Miscellaneous

These Terms and Conditions constitute the entire agreement between you and us. Our failure to exercise or enforce any right or provision of these Terms and Conditions does not operate as a waiver of that right or provision. We may assign any or all of our rights and obligations to others at any time. No joint venture, partnership, employment or agency relationship is created between you and us by these Terms and Conditions or your use of the Services.

18. Contact us

To resolve a complaint about the Services or to receive further information about their use, contact us at:

Email: contact [at] novuscompliance [dot] com
Phone: +91 88884 84178