Terms of Service

These Terms of Service (“Terms”) govern your access to and use of the Pastel websites, applications, and services (“Services”) provided by Pastel AI Ltd. (“Pastel,” “we,” “us”). By accessing or using the Services, you agree to be bound by these Terms and our Privacy Policy.

If you are using the Services on behalf of a company or other entity, you represent that you have authority to bind that entity to these Terms, and “you” will refer to that entity.

Pastel provides AI-powered diligence and portfolio-governance tooling for private equity firms, family offices, and their portfolio companies. Specific capabilities, usage limits, and service levels are described in the applicable order form, statement of work, or Data Processing Addendum.

We may modify, add, or remove features from time to time. We will not make material reductions to paid functionality during an active subscription term without notice.

You are responsible for keeping your account credentials secure and for all activity that occurs through your account. You must notify us immediately if you suspect unauthorized access.

You are responsible for your users and for ensuring that your users comply with these Terms. Access is granted to named individuals; shared credentials are not permitted.

You agree not to:

• Use the Services to violate applicable law or third-party rights.
• Upload or submit content that you do not have the right to provide.
• Reverse engineer, circumvent access controls, or attempt to gain unauthorized access to the Services or associated systems.
• Use the Services to develop or train a competing AI product, or to benchmark the Services without our prior written consent.
• Interfere with or disrupt the Services, or introduce malicious code.
• Resell, sublicense, or make the Services available to third parties beyond your organization without our agreement.

“Customer Data” means the documents, information, and other data you upload, connect, or otherwise make available to the Services. You retain all rights to Customer Data.

You grant Pastel a limited, non-exclusive license to use Customer Data solely to provide, secure, and maintain the Services for you. We do not use Customer Data to train generative models.

Our handling of personal information within Customer Data is governed by our Data Processing Addendum, which forms part of these Terms for customers to whom it applies.

The Services, including all underlying software, models, content, and trademarks, are and remain the property of Pastel and its licensors. These Terms do not transfer any rights in the Services except for the limited right to use them in accordance with these Terms.

If you provide feedback or suggestions, you grant us a perpetual, royalty-free license to use that feedback to improve the Services.

The Services include features that generate summaries, analyses, and other AI-produced outputs (“Outputs”) based on Customer Data and other inputs. AI outputs may contain errors or omissions. You are responsible for reviewing outputs before relying on them for investment, legal, or other decisions.

As between you and Pastel, you own Outputs derived from your Customer Data, subject to the rights of third parties in the underlying data and content.

Paid access to the Services is governed by the order form or other written agreement between you and Pastel. Fees are exclusive of taxes. Unless otherwise stated, invoices are due within 30 days of issue. Overdue amounts may bear interest at the lower of 1.5% per month or the maximum rate permitted by law.

We may suspend access for accounts with materially overdue balances after reasonable notice.

Each party may receive confidential information from the other in connection with the Services. The receiving party will use the same degree of care it uses to protect its own confidential information (but no less than reasonable care) and will not disclose it except as permitted by these Terms or required by law.

Each party represents that it has the authority to enter into these Terms. Pastel warrants that the Services will materially conform to our published documentation during an active subscription.

EXCEPT AS EXPRESSLY STATED, THE SERVICES ARE PROVIDED “AS IS” AND PASTEL DISCLAIMS ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. PASTEL DOES NOT WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE, OR THAT AI OUTPUTS WILL BE ACCURATE OR COMPLETE.

TO THE MAXIMUM EXTENT PERMITTED BY LAW, NEITHER PARTY WILL BE LIABLE FOR INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR FOR LOST PROFITS, REVENUE, OR DATA, ARISING OUT OF OR RELATED TO THESE TERMS OR THE SERVICES. EACH PARTY'S TOTAL LIABILITY ARISING OUT OF OR RELATED TO THESE TERMS WILL NOT EXCEED THE AMOUNTS PAID OR PAYABLE BY YOU TO PASTEL IN THE 12 MONTHS PRECEDING THE CLAIM.

These limitations do not apply to breaches of confidentiality, indemnification obligations, or liability that cannot be limited by law.

You will defend, indemnify, and hold Pastel harmless against claims arising from your Customer Data, your use of the Services in breach of these Terms, or your violation of applicable law or third-party rights.

Pastel will defend, indemnify, and hold you harmless against claims that the Services, as provided by us and used in accordance with these Terms, infringe a third-party intellectual property right, subject to customary carve-outs.

These Terms remain in effect while you use the Services. Either party may terminate for material breach that remains uncured 30 days after written notice. We may suspend access if required to protect the security or integrity of the Services.

On termination, your right to use the Services ends. Sections that by their nature should survive termination will do so (including confidentiality, IP, disclaimers, liability limits, and indemnities).

These Terms are governed by the laws of England and Wales, without regard to conflict-of-laws principles. The courts of England and Wales will have exclusive jurisdiction over any dispute arising out of or related to these Terms, unless a different forum is required by a separately executed agreement.

We may update these Terms from time to time. When we do, we will update the “Last updated” date above. Material changes will be communicated to active customers by email or in-product notice before they take effect.

Questions about these Terms? Email legal@getpastel.ai.