Spare's Terms of Service
1. Accepting the Terms
By using the information, tools, features, software, and functionality including content, updates, and new releases provided by Spare for the Spare Services, you agree to be bound by this Agreement, whether you are a “Visitor” (which means that you simply browse the Spare website or consume the APIs without creating an account), or a “Customer” (which means that you have registered for an account with us to use any one of our Services). The term “you” or “User” refers to a Visitor or Customer. The term “we” or “our” refers to Spare. If you wish to become a Customer or want to make use of the Services, you must read this Agreement and indicate your acceptance during the registration process.
You may not use any of the Services and you may not accept this Agreement if you are not legally authorized to accept and be bound by these Terms. You may use the Services only if you: (i) are 18 years or older and capable of forming a binding contract with Spare and (ii) are not barred from using the Services under applicable law.
Your use of the Services must comply with all applicable laws. If your use of the Services is prohibited by applicable law, then you are not authorized to use the Services. We are not responsible if you use the Services in any manner that violates applicable law.
2. Accountability Statement
3. Your Use of the Services
Your right to access and use the Services is personal to you and is not transferable by you to any other person or entity. You are only entitled to access and use the Services for lawful purposes.
Your access and use of the Services may be interrupted from time to time for any of several reasons, including, without limitation, the malfunction of equipment, periodic updating, maintenance, or repair of the Services or other actions that Spare in its sole discretion, may elect to take. In no event will Spare be liable to any party for any loss, cost, or damage that results from any scheduled or unscheduled downtime.
Your sole and exclusive remedy for any failure or non-performance of the Services, including any associated software or other materials supplied in connection with such services, shall be for Spare to use commercially reasonable efforts to effectuate an adjustment or repair of the applicable service
From time to time, Spare may include new and/or updated pre-release features (“Beta Features”) in Services for your use and which permit you to provide feedback. You understand and agree that your use of Beta Features is voluntary and Spare is not obligated to provide you with any Beta Features. Furthermore, if you decide to use the Beta Features, you agree to abide by any rules or restrictions Spare may place on them. You understand that once you use the Beta Features, you may be unable to revert back to the earlier version of the same or similar feature. Additionally, if such reversion is possible, you may not be able to return or restore data created within Beta Feature back to the earlier version. The Beta Features are provided on an “as is” basis and may contain errors or inaccuracies that could cause failures, corruption or loss of data and/or information from any connected device. You acknowledge and agree that all use of the Beta Features is at your sole risk.
4. Payment account synchronization
One of the features of Spare enables you to connect to bank accounts (“payment accounts”) maintained by supported financial institutions in KSA and synchronize automatically your payment account information with Spare on the basis of your explicit consent to us as an account information service provider. For this purpose, Spare may use its own technology utilizing APIs of the financial institutions or a third-party provider.
5. Rights You Grant to Us
By using the Services, you expressly authorize Spare to access your Account Information maintained by identified third parties, on your behalf as your agent, and you expressly authorize such third parties to disclose your information to us.
When you use the “Connect Accounts” feature of the Services, you will be directly connected to the app or website for the third party you have identified. For purposes of this Agreement and solely to provide the Account Information to you as part of the Services, you grant Spare a limited power of attorney, and appoint Spare as your attorney-in-fact and agent, to access third-party sites, retrieve and use your information with the full power and authority to do and perform each thing necessary in connection with such activities, as you could do in person. YOU ACKNOWLEDGE AND AGREE THAT WHEN SPARE IS ACCESSING AND RETRIEVING ACCOUNT INFORMATION FROM THIRD-PARTY SITES, SPARE IS ACTING AS YOUR AGENT, AND NOT AS THE AGENT OF OR ON BEHALF OF THE THIRD PARTY THAT OPERATES THE THIRD-PARTY SITE . Spare is not responsible for any payment processing errors or fees or other Services-related issues, including those issues that may arise from inaccurate account information. We make no effort to review information obtained from the financial institution holding your Bank Account and other third-party websites and databases for any purpose, including, but not limited to, accuracy, legality, or non-infringement.
6. License and ownership
Spare Services and all rights therein, including intellectual property rights, shall remain Spare's property or the property of its licensors. Nothing in the Terms shall be construed to grant you any rights, except for the limited license granted below.
Subject to the Terms, Spare grants you a limited, non-exclusive, non-transferrable, non-sublicensable license, to access and use Spare features. . The license is granted solely for your personal, non-commercial use. Therefore, you may not rent, lease, lend, sell, transfer, redistribute, or sublicense the Spare Services. Third-party services or libraries included in Spare are licensed to you either under these Terms, or under the third party's license terms, if applicable.
Based on your license, you may not access Spare with other means than the official APIs, mine or extract any data from Spare databases, modify, reverse engineer, hack, decode, decrypt, decompile, disassemble or create derivative works of Spare Services or any part thereof and circumvent any technology used to protect Spare’s features. You also may not remove, delete or obliterate any copyright notices, proprietary labels or private legends placed upon or found within the Spare Services.
7. Privacy and your Personal Information
8. Account Information from Third-Party Sites
Users may direct Spare to retrieve their own information maintained online by third-parties with which they have customer relationships, maintain accounts, or engage in financial transactions (“Account Information”). Spare does not review the Account Information for accuracy, legality, or non-infringement. Spare is not responsible for the Account Information or products and services offered by or on third-party sites.
Spare cannot always foresee or anticipate technical or other difficulties which may result in the failure to obtain data, the loss of data or personalization settings, and other service interruptions. Spare cannot assume responsibility for the timeliness, accuracy, deletion, non-delivery, or failure to store any user data, communications, or personalization settings. For example, when displayed through the Services, Account Information is only as fresh as the time shown, which reflects when the information is obtained from such sites. Such information may be more up-to-date when obtained directly from the relevant sites.
9. Use with Your Mobile Device
Use of the Services may be available through a compatible mobile device, Internet and/or network access and may require software. You agree that you are solely responsible for these requirements, including any applicable changes, updates and fees as well as the terms of your agreement with your mobile device and telecommunications provider. SPARE MAKES NO WARRANTIES OR REPRESENTATIONS OF ANY KIND, EXPRESS, STATUTORY OR IMPLIED AS TO: (i) THE AVAILABILITY OF TELECOMMUNICATION SERVICES FROM YOUR PROVIDER AND ACCESS TO THE SERVICES AT ANY TIME OR FROM ANY LOCATION; (ii) ANY LOSS, DAMAGE, OR OTHER SECURITY INTRUSION OF THE TELECOMMUNICATION SERVICES; AND (iii) ANY DISCLOSURE OF INFORMATION TO THIRD PARTIES OR FAILURE TO TRANSMIT ANY DATA, COMMUNICATIONS OR SETTINGS CONNECTED WITH THE SERVICES.
10. Spare’s Intellectual Property Rights
The contents of the Services, including its “look and feel” (e.g., text, graphics, images, logos and button icons), photographs, and editorial content, notices, Site, the APIs and other material are protected under Intellectual property laws in KSA and other applicable copyright, trademark, and other laws. The contents of the Services belong to or are licensed to Spare or its software or content suppliers. Spare grants you the right to view and use the Services subject to these Terms. You may download or print a copy of information for the Services for your personal, internal, and non-commercial use only. Any distribution, reprint, or electronic reproduction of any content from the Services in whole or in part for any other purpose is expressly prohibited without our prior written consent. You agree not to use, nor permit any third party to use, the Site or the Services or content in a manner that violates any applicable law, regulation or this Agreement.
11. Access and Interference
You agree that you will not:
- Use any robot, spider, scraper, deep link, or other similar automated data gathering or extraction tools, program, algorithm, or methodology to access, acquire, copy, or monitor the Services or any portion of the Services, without Spare’s express written consent, which may be withheld in Spare’s sole discretion.
- Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation browsers, spiders, robots, avatars, or intelligent agents) to navigate or search the services, other than the search engines and search agents available through the Services and other than generally available third-party web browsers.
- Post or transmit any file which contains viruses, worms, Trojan horses, or any other contaminating or destructive features, or that otherwise interfere with the proper working of the Services;
- Attempt to decipher, decompile, disassemble, or reverse-engineer any of the software comprising or in any way making up a part of the Services.
- Attempt to gain unauthorized access to any portion of the Services.
12. Disclaimer of Representations and Warranties
THE SERVICES, INFORMATION, DATA, FEATURES, AND ALL CONTENT AND ALL SERVICES AND PRODUCTS ASSOCIATED WITH THE SERVICES OR PROVIDED THROUGH THE SERVICES (WHETHER OR NOT SPONSORED) ARE PROVIDED TO YOU ON AN “AS-IS” AND “AS AVAILABLE” BASIS. SPARE, ITS AFFILIATES, AND ITS THIRD-PARTY PROVIDERS, LICENSORS, DISTRIBUTORS OR SUPPLIERS (COLLECTIVELY, "SUPPLIERS") MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE CONTENT OR OPERATION OF THE SITE OR OF THE SERVICES. YOU EXPRESSLY AGREE THAT YOUR USE OF THE SERVICES IS AT YOUR SOLE RISK.
NEITHER SPARE NOR ITS SUPPLIERS MAKE ANY REPRESENTATIONS, WARRANTIES OR GUARANTEES, EXPRESS OR IMPLIED, REGARDING THE ACCURACY, RELIABILITY OR COMPLETENESS OF THE CONTENT ON THE SERVICES (WHETHER OR NOT SPONSORED), AND EXPRESSLY DISCLAIMS ANY WARRANTIES OF NON-INFRINGEMENT OR FITNESS FOR A PARTICULAR PURPOSE. NEITHER SPARE NOR ITS SUPPLIERS MAKE ANY REPRESENTATION, WARRANTY OR GUARANTEE THAT THE CONTENT THAT MAY BE AVAILABLE THROUGH THE SERVICES IS FREE OF INFECTION FROM ANY VIRUSES OR OTHER CODE OR COMPUTER PROGRAMMING ROUTINES THAT CONTAIN CONTAMINATING OR DESTRUCTIVE PROPERTIES OR THAT ARE INTENDED TO DAMAGE, SURREPTITIOUSLY INTERCEPT OR EXPROPRIATE ANY SYSTEM, DATA OR PERSONAL INFORMATION.
13. Not a Financial Planner, Broker or Tax Advisor
NEITHER SPARE NOR THE SERVICES ARE INTENDED TO PROVIDE LEGAL, TAX, OR FINANCIAL ADVICE. SPARE IS NOT A FINANCIAL PLANNER, BROKER, OR TAX ADVISOR. The Services are intended only to assist you in your financial organization and decision-making and is broad in scope. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual circumstances.
14. Limitations on Spare’s Liability
IN NO EVENT WILL SPARE, ITS AFFILIATES OR THEIR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS OR DIRECTORS BE LIABLE FOR DAMAGES OF ANY KIND, UNDER ANY LEGAL THEORY, ARISING OUT OF OR IN CONNECTION WITH YOUR USE, OR INABILITY TO USE, THE API, ANY CONTENT ON THE API OR SUCH OTHER API OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE API OR SUCH OTHER API, INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, AND WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT OR OTHERWISE, EVEN IF FORESEEABLE.
IN NO EVENT WILL THE COLLECTIVE LIABILITY OF SPARE AND ITS SUBSIDIARIES AND AFFILIATES, AND THEIR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS AND DIRECTORS, TO ANY PARTY (REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT OR OTHERWISE) EXCEED THE AMOUNT YOU HAVE PAID TO SPARE FOR THE APPLICABLE CONTENT, PRODUCT, OR SERVICE IN THE LAST TWELVE MONTHS OUT OF WHICH LIABILITY AROSE. THE FOREGOING DOES NOT AFFECT ANY LIABILITY WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.
15. Your Indemnification of Spare
You shall defend, indemnify, and hold harmless Spare and its officers, directors, shareholders, and employees, from and against all claims, suits, proceedings, losses, liabilities, and expenses, whether in tort, contract, or otherwise, that arise out of or relate, including but not limited to attorney’s fees, in whole or in part arising out of or attributable to any breach of this Agreement or any activity by you in relation to the Services.
16. Social Media Sites
17. Terminating your relationship with Spare
This Agreement will continue to apply until terminated by either you or Spare (or any Spare affiliate/subsidiary) as set out below. If you want to terminate this legal agreement for the Services, you may do so by sending a request to: email@example.com
Spare may, at any time; terminate its legal agreement with you and your access to the Services:
a) if you have breached any provision of this Agreement (or have acted in a manner which clearly shows that you do not intend to, or are unable to comply with the provisions of this Agreement);
b) if Spare in its sole discretion believes it is required to do so by law (for example, where the provision of the Service to you is, or becomes, unlawful);
c) for any reason and at any time with or without notice to you.
When there are changes in laws or regulations, conditions in the financial services markets, technology or organizational processes, or when changes are needed due to compliance with the statutory obligation of prudential business rules or in order to improve quality of services provided through Spare, we may amend these Terms at our sole discretion. Such an amendment may cover areas such as amending and terminating the Agreementor Paid features and prices. The updated Terms will be published prior to the effective date. By continued use of Spare, you are expressing your acceptance of the changes. If you do not agree with the changes, you may terminate the Terms at any time and free of charge
19. Governing Law and Jurisdiction
All matters relating to the Spare Services and these Terms and any dispute or claim arising therefrom or related thereto (in each case, including non-contractual disputes or claims), shall be governed by and construed in accordance with the applicable Saudi Arabia Laws without giving effect to any choice or conflict of law provision or rule. These terms are governed by and interpreted in line with the Saudi Central Bank Regulations and any disputes arising in relation to such terms are subject to determination in the Saudi Arabia Court.
Any disputes arising in relation to these Terms or the Services are subject to determination in Saudi Arabia Court, although Spare retains the right to bring any suit, action or proceeding against you for breach of these Terms in your country of residence or any other relevant country. You waive any and all objections to the exercise of jurisdiction over you by such courts and to a venue in such courts.
If any provision of these Terms is held invalid or unenforceable to any extent, such invalidity or unenforceability shall not in any manner affect or render invalid or unenforceable other provisions of the Terms. The provision shall be enforced to the fullest extent permitted by law or deemed replaced by a provision that is valid and enforceable and that comes closest to the original intent and purpose.
21. Complaints and Contact Information
Here's how you can get help:
In the event that you encounter any issues or have concerns related to Spare’s open banking platform, we are committed to providing you with the support you need. You can get in touch with our dedicated Customer Support team through the following channels:
- Email: Reach out to us at firstname.lastname@example.org with a detailed description of your issue or concern. Our team will respond to your inquiry within 1-2 business days or earlier as per our contract with you.
- Live Chat: For real-time assistance, connect with our support agents through the live chat feature.
Please ensure you have your account information and clear description of the issue, readily available to help us expedite the resolution of your issue.
How we and others will protect you if something goes wrong:
At Spare, we prioritize your security and satisfaction. We work closely with our partner institutions, implement the highest level of security and adhere to all local guidelines set for Open Banking Third Party providers:
Regulatory Compliance: We adhere to all applicable open banking regulations and standards, ensuring the safeguarding of your data and maintaining transparency in our operations
If you are our customer in the Kingdom of Saudi Arabia, we are regulated by SAMA’s Open Banking Framework and related regulations
Collaboration with Financial Institutions: We work closely with our partner financial institutions (read banks) to ensure prompt resolution of any issues that originate from the institutions’ environment , enabling a seamless and secure open banking experience for you.
Data Security: We employ advanced encryption techniques and stringent data privacy protocols to protect your sensitive information from unauthorized access, disclosure, or misuse.
In the unlikely event that you need additional support for your issues, we have set up a dispute resolution process as the following:
We take all customers' complaints seriously. In case, you are not satisfied with the support provided through our support channels. You can raise your complaints to email@example.com
If you are dissatisfied with our response or resolution to your complaint, you may escalate the matter to a third-party dispute resolution body as applicable in the respective jurisdiction.