Terms of Service

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1. Introduction

These Terms of Service ("Terms") govern your access to and use of the Recap website (https://recap.io), all mobile and desktop applications developed by Recap Technologies Limited (including but not limited to the Recap Desktop app), and any related services (collectively, the "Service") operated by Recap Technologies Limited ("Recap", "we", "us", or "our").
By accessing or using the Service, you agree to be bound by these Terms. If you do not agree with any part of the Terms, you must not access or use the Service.

2. Definitions

  • Apps: Refers to all software applications developed by Recap Technologies Limited, available on various platforms, including but not limited to mobile devices, desktop computers, and web browsers.
  • Website: Refers to https://recap.io and any subdomains or affiliated websites operated by Recap.
  • Service: Includes the Website, all Apps, and any other services provided by Recap.
  • Device: Means any device that can access the Service, such as a computer, mobile phone, or tablet.
  • Subscription: Refers to the paid access to premium features of the Service on a recurring basis (e.g. monthly, annually, or bi-annually).
  • Consumer: An individual acting for purposes that are wholly or mainly outside their trade, business, craft, or profession.
  • Business User: An individual, company, or other entity accessing or using the Service for commercial, business, or professional purposes, including but not limited to accountants and other professional service providers.

3. Eligibility and Your Recap Account

3.1 Eligibility

You must be at least 18 years old to use the Service. By using the Service, you represent and warrant that you are at least 18 years of age.

3.2 Account Creation

When creating an account, you must provide accurate, complete, and up-to-date information. Failure to do so constitutes a breach of these Terms and may result in immediate termination of your account.

3.3 Account Security

You are responsible for safeguarding your password and recovery phrase. You must not disclose them to any third party and should notify us immediately of any unauthorised use or security breach concerning your account.

3.4 Account Termination

We reserve the right to terminate or suspend your account without prior notice or liability if you breach these Terms or for any other reason.

4. Service Description

Recap provides cryptocurrency portfolio tracking and tax reporting services via its website and apps. The Service allows users to manage cryptocurrency transaction data, calculate tax positions, and generate tax reports.

5. Data Protection and Privacy

5.1 Client-Side Encryption

Recap employs a "zero-knowledge" approach to protect your privacy. All your financial transactions and cryptocurrency data are encrypted on your device before they are backed up or synchronised to our cloud infrastructure. We use AES-256-GCM encryption, with keys generated through cryptographically secure random number generators. This ensures Recap cannot access sensitive financial data unless explicitly shared by you.

5.2 Data Access and Recovery

Your transaction data is encrypted using your unique recovery phrase, which only you know. Recap does not store or have access to this phrase, meaning we cannot decrypt your data.

5.3 Automated Data Collection

Recap offers automated connections to exchanges and blockchain APIs to retrieve your cryptocurrency data securely:

  • These proxy connections do not log or store data beyond the immediate processing required to update your account.
  • Any data processed is not retained or analysed beyond what is necessary to provide the Service.
  • You have full control to disable automated data collection and enter your data manually if preferred.

5.4 Privacy Policy

We take your privacy seriously and are committed to safeguarding your personal information. For more detailed information on how we collect, use, and protect your data, please refer to our Privacy Policy at https://recap.io/legal/privacy.

6. Subscriptions and Payments

6.1 Subscription Plans

We offer various subscription plans, which are detailed on our website.

6.2 Licence Grant

Upon compliance with these Terms and payment of applicable fees, Recap grants you a limited, non-exclusive, non-transferable licence to use premium features of the Service as per your subscription plan.

6.3 Licence Restrictions

You agree not to:

  • Share your account or subscription.
  • Attempt to copy, modify, or reverse-engineer the Service.
  • Use the Service to provide services to third parties without explicit permission.
  • License, sell, or commercially exploit the Service without written consent from Recap.

6.4 Payment Terms

You agree to pay all fees associated with your chosen subscription. Payments are securely processed, and if a payment fails, your access to premium features may be suspended until payment is made.

6.5 Subscription Renewals and Cancellations

Subscriptions automatically renew unless cancelled before the renewal date. You can cancel at any time through account settings or by contacting support.

6.6 Cancellations

You may cancel your subscription at any time through your account settings or by contacting our support team. If you cancel, you will continue to have access to the Service until the end of your current billing period, and no further charges will be made.

6.7 Refunds

Except where required by law, paid subscription fees are non-refundable. However, we may consider refund requests on a case-by-case basis for exceptional circumstances, such as errors in billing or technical issues preventing use of the Service.

7. Your Rights to End the Contract

7.1 General Right

You have the right to end your contract with us at any time. The specific rights and potential refunds when ending the contract depend on the nature of the Service purchased, our performance, and the timing of your decision.

7.2 Reasons for Ending the Contract

You may end the contract if:

  • The Service you received is faulty or misdescribed.
  • We inform you of an upcoming change to the Service or these Terms that you do not accept.
  • You wish to exercise your right to change your mind within the cooling-off period (if applicable).

7.3 Cooling-off Period for Consumers

Under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, if you are a Consumer, you have a 14-day cooling-off period for most online services. During this period, you can change your mind and receive a refund without giving a reason.

7.4 Exceptions to the Right to Change Your Mind

The right to change your mind does not apply to:

  • Digital products once you have started to download or stream them.
  • Services that have been fully completed, even if the cancellation period is still running.
  • Business Users.

7.5 Time Limit for Changing Your Mind (Consumers Only)

For Consumers, the cooling-off period lasts for 14 days after we email you to confirm acceptance of your subscription. However, you cannot change your mind once we have completed the services, even if the 14-day period is still running. If you cancel after we have started providing the services, you must pay for the services received up until the time you inform us of your decision to cancel.

7.6 Business Users

If you are a Business User, the cooling-off period and right to change your mind do not apply. Your rights to end the contract are governed by the general provisions in clause 7.1 and 7.2, and any specific terms agreed upon in writing between you and Recap.

8. How to End the Contract

8.1 Notifying Us

To end the contract with us, please let us know by:

  • Emailing us at hello@recap.io. Please provide your email address and User ID.
  • Contacting us through our customer messaging platform at https://recap.io/support. You may be requested to verify your identity via email.

8.2 Refunds

If a refund is due to you, we will refund you the price you paid for the Service by the method you used for payment. However, we may make deductions from the price for the supply of the Service for the period for which it was supplied.

9. API Use and Third-Party Services

Our Service integrates with third-party APIs, such as cryptocurrency exchanges and blockchain networks. While we strive to ensure the accuracy and availability of data from these APIs, we cannot guarantee the accuracy, reliability, or availability of third-party data.
Any disruptions, inaccuracies, or changes to third-party services are outside of our control, and we disclaim any liability arising from their use. Users should review the terms and conditions and privacy policies of these third-party services before using them.

10. Our Rights to End the Contract

10.1 Reasons We May End The Contract

We may end the contract for a Service at any time by writing to you if:

  • You do not make any payment to us when it is due and you still do not make payment within 14 days of us reminding you that payment is due.
  • You do not, within a reasonable time of us asking for it, provide us with information that is necessary for us to provide the Service.
  • You do not, within a reasonable time, allow us to deliver the Service to you or collect them from us.

10.2 Compensation for Breaking the Contract

If we end the contract in the situations set out above, we will refund any money you have paid in advance for Services we have not provided, but we may deduct or charge you reasonable compensation for the net costs we will incur as a result of your breaking the contract.

11. Price and Payment

11.1 Pricing

The price of the Service (which includes VAT) will be the price indicated on the order pages when you place your order.

11.2 VAT Changes

We will pass on changes in the rate of VAT.

11.3 Pricing Errors

If we discover an error in the price of the Service you order, we will contact you for your instructions before we accept your order.

12. Our Responsibility for Loss or Damage Suffered by You

12.1 Foreseeable Loss and Damage

We are liable for foreseeable loss or damage caused by our breach of contract or failure to use reasonable care. However, we are not liable for unforeseen damages.

12.2 Exceptions to Limitations of Liability

We do not exclude or limit liability for death or personal injury caused by negligence, fraud, or breach of your legal rights under UK law.

12.3 Limitations for Business Users

If you are a Business User:

  • We exclude all implied terms that may apply to our service.
  • We will not be liable for loss of profits, business, or any indirect or consequential damages.
  • Our total liability will be limited to the amount paid by you for the Services in the preceding 12 months.

12.4 Specific Limitations

We disclaim liability for:

  • Loss or corruption of data.
  • Financial losses based on the Service’s information.
  • Unauthorised account access due to your failure to maintain security.

Our total liability to you for all losses arising under or in connection with any contract between us shall not exceed the amount you have paid for the Service over the 12-month period preceding the event giving rise to the liability.

13. Acceptable Use

You must not use the Service in a way that is unlawful or interferes with other users, infringes on intellectual property rights, or damages Recap’s systems. Violating this may result in account termination.

14. Intellectual Property

The Service, including all Recap apps, and its original content, features, and functionality are and will remain the exclusive property of Recap and its licensors. The Service is protected by copyright, trademark, and other laws of both the United Kingdom and foreign countries.

15. Updates and Changes to the Service

We may update the Service, including any Recap apps, from time to time to implement bug fixes, add new features, or make other improvements. These updates may be automatic depending on your device settings. We will notify you of any significant changes to the Service or updates that require action from you. This notification may be via email, through the application, or on our website.

16. Disclaimer of Warranties

The Service is provided "AS IS", without warranties of any kind. We do not guarantee uninterrupted, error-free service.

17. Indemnification

You agree to indemnify Recap from any claims arising from your use of the Service or your breach of these Terms.

18. Governing Law

These Terms shall be governed and construed in accordance with the laws of England and Wales, without regard to its conflict of law provisions. Any disputes arising from or related to these Terms will be subject to the exclusive jurisdiction of the courts of England and Wales.

19. Changes to These Terms

We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material, we will provide you with at least 30 days’ notice before any new terms take effect. What constitutes a material change will be determined at our sole discretion.
By continuing to access or use the Service after those revisions become effective, you agree to be bound by the revised Terms. If you do not agree to the new terms, you must stop using the Service.

20. Promotions

Any promotions made available through the Service may be governed by rules that are separate from these Terms. If you participate in any promotion, please review the applicable rules as well as our Privacy Policy at https://recap.io/legal/privacy.
If the rules for a promotion conflict with these Terms, the promotion rules will apply for the duration of the promotion.

21. Your Feedback to Us

You assign all rights, title, and interest in any feedback you provide to Recap. If, for any reason, such assignment is ineffective, you agree to grant Recap a non-exclusive, perpetual, irrevocable, royalty-free, worldwide right and licence to use, reproduce, disclose, sub-license, distribute, modify, and exploit such feedback without restriction.

22. Severability and Waiver

22.1 Severability

If any provision of these Terms is held to be unenforceable or invalid, such provision will be modified and interpreted to accomplish the objectives of the original provision to the greatest extent possible under applicable law. The remaining provisions will continue in full force and effect.

22.2 Waiver

Failure by Recap to enforce any right or provision in these Terms will not constitute a waiver of such rights or provisions. A waiver of any breach will not constitute a waiver of any subsequent breach.

23. Third-Party Services and Content

23.1 Third-Party Services

Our Service may integrate with or provide access to third-party services, such as cryptocurrency exchanges and blockchain APIs. Your use of these third-party services may be subject to additional terms and conditions provided by those services. We are not responsible for the performance, accuracy, availability, or content of these third-party services, and you acknowledge that any use of these services is at your own risk.

23.2 Links to Other Websites

The Service may contain links to third-party websites or services that are not owned or controlled by Recap. We have no control over, and assume no responsibility for, the content, privacy policies, or practices of any third-party websites or services. We recommend that you review the terms and conditions and privacy policies of any third-party services you use.

24. Force Majeure

We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under these Terms that is caused by events outside our reasonable control (Force Majeure Event). A Force Majeure Event includes but is not limited to acts of God, government restrictions, wars, strikes, labour disputes, pandemics, natural disasters, or other circumstances beyond our reasonable control.

25. Compliance with Tax and Financial Regulations

25.1 User Responsibility

You are solely responsible for complying with all applicable tax laws and financial regulations in your jurisdiction. Our Service is designed to assist you but does not replace the need for professional advice or your own due diligence.

25.2 Accuracy of Information

While we strive to ensure that the information provided by the Service is accurate and up-to-date, we cannot guarantee its completeness or accuracy, especially given the evolving nature of cryptocurrency regulations and tax laws. You should independently verify any information before relying on it for tax or financial reporting purposes.

25.3 No Tax or Financial Advice

Our Service does not constitute tax, legal, or financial advice. For specific advice related to your tax or financial situation, we recommend consulting with a qualified professional.

26. Assignment

26.1 By Recap

We may transfer our rights and obligations under these Terms to another organisation without your consent. We will notify you in writing if this occurs and ensure that the transfer will not affect your rights under the contract.

26.2 By You

You may only transfer your rights or obligations under these Terms to another person if we agree to this in writing.

27. Entire Agreement

These Terms, together with any additional agreements or policies referenced herein, constitute the entire agreement between you and Recap regarding your use of the Service. They supersede any prior agreements or communications between you and Recap, whether oral or written.

28. Contact Us

If you have any questions about these Terms or need further assistance, you can contact us by: