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When a customer desires to purchase the License for the Accounting Product LEDGERMAX (a business accounting Product developed by Object Loop Private Limited); he/she hereby agrees as follows:

  1. The Licensor is the owner of copyright and all other intellectual property rights in the Product.
  2. The Licensor grants to the Customer, a non-exclusive license to use the Product, upon the terms and conditions contained hereinafter.
  3. The Customer is deemed to have read, understood and agreed to be bound by the terms of this Agreement.
  4. The Customer shall not decompile, disassemble or otherwise modify the Product, except as provided for by this license.
  5. The Customer is solely responsible for determining the suitability of the Product for the purpose it is intended to be used, before the purchase of the Product License. Once the Customer purchases the License, the Licensor will not accept return of Product under any circumstances, whatsoever, and the payment once made shall be non-refundable.
  6. The Product is offered in various secondary editions based on features. Each edition is available in one or more different variants – Single-user, Multi-user.  In case of Single-user, the Customer can install the Product on a single Computer/Cloud only.  In case of Multi-user, the Customer can install the Product on a single Local Area Network (LAN) or on Cloud.
  7. After the Product is installed, it needs to be registered before it can be used. The registration process requires an Internet Connection. The Product will work only when it is successfully registered.
  8. The Customer shall take all reasonable precautions and measures to protect the Product and related items from unauthorized use, access, copying, modifications, reproduction, distribution or publication.
  9. The price of the Product is the license fee for use of the Product only. All services like Installation, Training, and Support etc. are chargeable extra.
  10. After a new version is released, all further development / debugging will be carried out on the new version only, which may be subject to acceptance of further terms and conditions between the parties.
  11. The Licensor does not guarantee the compatibility of the Product with future Operating Systems / Technologies.
  12. The Licensor shall not take any responsibility for any kind of corruption of data at the Customer site due to media failure / power failure / hardware problem / virus infection or any other reason. At most, the Licensor can try to recover the data either fully or partially and the same shall be chargeable.
  13. It is expressly agreed by the Customer that neither the manufacturer nor the supplier of the Product shall be liable for any loss or damage, whether direct, indirect, special, consequential and / or incidental, arising from the use or application of the Product and related items.
  14. The Statutory Reports provided in the Product are intended to provide the information / data to the Customer, which is required for fulfilling of various statutory obligations like depositing of tax, filing of tax returns etc. The Licensor does not guarantee, promise or claim accuracy, completeness or adequacy of the information provided and makes no claim that the Statutory Reports provided in the Product will be accepted by the tax authorities as it is.  The Licensor shall not be responsible for any error / omission or delay in fulfilling of statutory obligations by the Customer.  In case there is any change in statutory requirement, the Licensor shall try to incorporate the same in the forthcoming releases of the Product, but, shall be under no obligation to do so.

WARRANTY/LIMITATION OF LIABILITY

  1. The Product provided without warranty of any kind, and all warranties expressed or implied, including warranties of non-infringement, merchantability and fitness for a particular purpose are hereby disclaimed. Not limiting the foregoing, the Licensor does not warrant that the Product will meet Customer’s needs or expectations or that use of the Product will be error free or incessant.
  2. In no event will the Licensor be liable for any claim or loss incurred by Customer, including without limitation incidental, indirect, special, consequential or exemplary damages, even if advised of the likelihood of such damages. Licensor’s liability will not exceed the license fees paid by Customer with respect to the Product at issue.
  3. The foregoing limitations apply to all causes of action, including without limitation breach of contract or warranty or tort and is a material inducement for Licensor granting the rights herein. Because some states and jurisdictions do not allow the foregoing limitations, such limitations may not apply to Customer.

GOVERNANCE/APPLICABLE LAW

  1. This Agreement is governed and interpreted in accordance with the laws of Pakistan.
  2. Any disagreement arising between the parties out of or in link with this Agreement will be finally resolved by adjudication conducted by one authority in Pakistan. Each party will bear its own costs and lawyers’ fees, and will share equally in the fees and expenses of the authority.
  3. The contents in this section will not limit the ability of the Licensor to pursue any legal or reasonable solution or to obtain an injunction to protect any rights the Licensor may have rising out of or relating to the Product and/or Services or any of the Licensor’s intellectual property rights. Any breach of this Agreement by the Customer will cause the Licensor irredeemable harm for which there is no acceptable legal solution. In the event of any actual or threatened breach of this Agreement by Customer, the Licensor is authorized to obtain injunctive and all other appropriate relief from a court of competent authority.
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