The agreement
Underly is a product of LendPipe. “LendPipe,” “we,” “us” and “our” mean the company that operates Underly. “Customer” means the organization that creates an Underly account. “User” means each person the Customer adds to its organization.
If your organization has signed a separate written agreement with LendPipe, that agreement takes precedence over these terms where they conflict.
The service
Underly reads business bank statements and shows the figures used to underwrite merchant cash advances and other small-business finance, including true revenue, existing debt positions, NSFs and negative days, cash flow, and checks on whether a statement may have been altered.
Underly's outputs are analytical aids. They are not credit decisions, underwriting recommendations, or legal or financial advice. Credit decisions remain the responsibility of the Customer.
Accounts and plans
Access to Underly is provided per organization. The Customer manages who belongs to its organization, including removing people who leave. Users must keep their sign-in details confidential and are responsible for all activity under their account. Tell us immediately if you suspect unauthorized access.
Each organization gets a one-time free allowance of statements. Paid plans are billed monthly in US dollars through our payment provider, Dodo Payments, and renew until cancelled. You can cancel at any time from Settings; your plan runs to the end of the period you have paid for, then the organization returns to Free.
Acceptable use
You may use Underly only for lawful underwriting, lending and financial analysis. You agree not to:
- Share sign-in details or give access to people outside your organization
- Upload statements you have no right to process
- Attempt to reverse-engineer, scrape, or extract underlying models or data structures
- Use Underly's outputs to train, build, or improve competing software
- Upload content that violates applicable law or the privacy rights of others
- Interfere with Underly's operation or attempt to gain unauthorized access
Your data
You keep ownership of the statements and other content you upload to Underly (“Customer Content”). You grant LendPipe a limited license to process Customer Content solely to provide Underly to you.
LendPipe will not use Customer Content to train AI models, will not sell it, and will not look at it for any purpose other than running Underly for you, including support you ask for.
You confirm that you have the rights and permissions needed to upload Customer Content, including any data about merchants or other third parties that is subject to privacy or financial regulation.
Intellectual property
LendPipe and its licensors own all rights to Underly, including its software, models, interfaces and documentation. These terms do not transfer any ownership rights to you.
Figures, labels, workbooks and other outputs produced from your Customer Content are yours to use in your business.
Confidentiality
Each party agrees to keep the other's confidential information private and to use it only as needed to meet its obligations under these terms. Customer Content is the Customer's confidential information. LendPipe's product roadmap and proprietary technology are LendPipe's confidential information.
Disclaimers
Underly is provided “as is.” We make no warranties, express or implied, about the accuracy, completeness or fitness of its outputs for any particular purpose.
Underly reads statements automatically, partly with AI models, and its outputs, including figures, labels, debt positions and integrity checks, may contain errors. Review them before relying on them. LendPipe is not responsible for decisions made based on Underly's outputs.
Limitation of liability
To the maximum extent permitted by law, LendPipe's total liability arising from or related to these terms or Underly will not exceed the amounts the Customer paid for Underly in the twelve months before the claim.
Neither party will be liable for indirect, incidental, special, consequential or punitive damages, including lost profits or data, even if advised of the possibility.
Indemnification
You agree to indemnify and hold LendPipe harmless from claims, losses and expenses, including reasonable legal fees, arising from your violation of these terms, your Customer Content, or your use of Underly in a way that infringes third-party rights or violates applicable law.
Term and termination
These terms apply for as long as the Customer has an Underly account. Either party may end them with written notice. LendPipe may suspend or end access immediately if a Customer materially breaches these terms.
When an account ends, access to Underly stops, and LendPipe will keep Customer Content available for export for a reasonable period before deleting it.
Governing law
These terms are governed by the laws of the State of Delaware, without regard to conflict-of-law principles. Disputes will be resolved in the state or federal courts located in Delaware, and both parties consent to jurisdiction there.
Changes to these terms
We may update these terms from time to time. For material changes, we will notify Customers at least 30 days in advance by email or a notice in Underly. Continued use after the effective date means you accept the updated terms. If you do not agree, you may close your account before the effective date.
Contact
Questions about this page, or a request about your data? Email hello@lendpipe.ai.