By accessing or using the Akifue Compliance Check services, you declare that you have read, understood and accepted these Terms and Conditions in their entirety.
1. Acceptance and Purpose
These terms and conditions describe the conditions under which users and/or clients may use the SaaS (Software as a Service) services of Akifue Compliance Check and its website. Through the services offered by Akifue, the user will be able to run searches against prevention and regulatory compliance lists on natural or legal persons, as support for due diligence processes.
The SaaS services will be made available through a monthly subscription model, which will be activated upon the corresponding payment. Failure to accept these Terms will be considered a withdrawal from contracting the services.
2. License of Use and Intellectual Property
The Akifue Platform and its website — including, without limitation, its software, source code, object code, algorithms, APIs, databases, data structures, designs, web portal, user interfaces, technical documentation, user manuals, trademarks and domain names — are and shall remain the exclusive property of Akifue. Such assets are protected by applicable Panamanian and international copyright and intellectual property laws, and their use does not imply, nor is it intended, that they be transferred to the user/client.
Contracting the service and paying the subscription do not grant the Client any right of ownership, title or assignment, or any other real or personal right over the software, the web portal, the platform or any of the technological components developed or licensed by Akifue.
Subject to compliance with these Terms and timely payment of the current subscription, Akifue grants the Client a license of use with the following characteristics:
- Non-exclusive, non-transferable and non-sublicensable.
- Valid during the active period of the contracted subscription.
- Strictly limited to the Client's internal use to run verification searches, validate restrictive lists and use the other Know Your Customer (KYC) functionalities enabled in the contracted plan.
- The expiration, cancellation or suspension of the subscription automatically terminates this license, without the need for further notice.
The Client is expressly prohibited from the following, without this list being exhaustive:
- Copying, reproducing, distributing, selling, assigning or sublicensing, in whole or in part, the software, the web portal or any component of the platform.
- Modifying, adapting, translating, reverse engineering, decompiling, disassembling or attempting to derive the source code of the platform.
- Using access to the platform to provide consulting, resale or technology intermediation services for the benefit of third parties, without the express written authorization of Akifue.
- Removing, concealing or altering copyright notices, trademarks or any other Akifue identification incorporated in the platform or its documentation.
- Accessing the platform by unauthorized automated means, or performing scraping, crawling or mass data extraction without the prior written consent of Akifue.
Akifue reserves the right to unilaterally suspend or terminate the license of use, with or without prior notice, in the event the Client breaches any of the obligations established. Termination of the license shall not give rise to a right to a refund of amounts paid for the current subscription period, under any circumstances.
The reports, results and outputs generated from the searches run by the Client are for the Client's exclusive use in its own compliance and due diligence processes. Akifue reserves the right to use statistical, anonymized and aggregated data derived from use of the platform to improve the service, in accordance with the data protection regulations in force.
3. Registration and Account Responsibility
During the registration phase and when requesting a search, the Client undertakes to provide truthful, complete, accurate and up-to-date information. This obligation covers the Client's identification data, the information on the subjects for whom KYC searches are requested, and any other data necessary for the proper performance of the service.
The Client must immediately update any information that is no longer current, accurate or complete. Failure to do so may result in suspension or termination of the service, without giving rise to any liability for Akifue.
Akifue acts as a technology provider of information search and verification. Consequently, Akifue shall not be liable for the truthfulness, accuracy, completeness, currency or suitability of the information provided by the Client. Any inaccuracy, error, omission or falsehood in the data provided shall be the exclusive responsibility of the Client.
The Client declares and warrants that, before providing third-party personal data to the platform, it has obtained from the data subjects the prior, express and informed authorization required by the personal data protection regulations in force. The Client shall be the data controller for such data, with Akifue acting as data processor under the terms of the applicable legislation.
The Client undertakes to hold harmless Akifue, its partners, officers, employees, technology allies and providers from any claim, lawsuit, sanction, fine or judgment arising from: (i) the falsity, inaccuracy or outdated nature of the information provided; (ii) the unauthorized, unlawful or bad-faith use of the services; or (iii) the breach of the obligations regarding authorization and processing of personal data. This indemnity obligation shall extend to the reasonable legal defense costs that Akifue must incur.
4. Credential Security, Access and Evidentiary Validity of Records
The Client and/or User is solely responsible for maintaining the confidentiality, custody and proper use of its credentials to access the platform, including username, password, authentication tokens and any other enabled security mechanism. The Client undertakes not to share or disclose its credentials to any unauthorized third party. Their custody is the exclusive responsibility of the client/user.
All activity carried out through the Client's account using its credentials shall be presumed to have been performed by the Client and shall be fully attributable to it, regardless of whether such access was authorized or not. Akifue shall not be liable for damages arising from unauthorized access caused by a breach of the custody obligations.
The Client expressly accepts and acknowledges that the activity records (logs) generated by the platform — including access records, searches performed, transactions executed, results obtained, timestamps and session identifiers — constitute conclusive and sufficient proof of the operations carried out, and shall be enforceable against the Client in any internal or external audit, administrative investigation, arbitration proceeding or judicial process. Such records shall be retained by Akifue for the minimum period required by the applicable regulations.
5. Limitation of Liability and Service Availability
Akifue shall provide the service in the current version of its solution (currently v2.0) and shall make reasonable efforts to keep the platform operational and accessible. However, Akifue does not guarantee uninterrupted availability of the service and shall not be liable for interruptions, delays or failures arising from public telecommunications networks, maintenance tasks, or acts or omissions of third parties.
To the maximum extent permitted by applicable law, Akifue's total liability arising out of or relating to each search made through the service shall be limited to the amount actually paid by the user for the respective search that gave rise to the claim.
Akifue shall not be liable for indirect, incidental, special or consequential damages, including, without limitation, loss of profits, loss of revenue, business opportunities or any decision made on the basis of the results provided by the service. The user acknowledges that the service is a support tool and that the results obtained do not replace its professional or business judgment.
6. Personal Data Protection — Law 81 of 2019 (Panama)
In compliance with Law 81 of March 26, 2019 and its regulations, Akifue, in its capacity as data controller, undertakes to process the user's data in a lawful, fair and transparent manner. The personal data collected shall be used exclusively for the purposes of verification against prevention lists, regulatory compliance and management of the contractual relationship.
Akifue guarantees that the data subject may at any time exercise their rights of access, rectification, cancellation and objection (ARCO), in accordance with the mechanisms established in the applicable regulations. All communications related to data protection may be submitted to: privacidad@akifue.com.
Akifue shall implement the reasonable and necessary technical, organizational and security measures to protect personal data against loss, misuse, unauthorized access, alteration or disclosure.
7. Term, Cancellation and Jurisdiction
Term: The contract begins upon payment of the subscription and the respective registration of the user or client, and shall remain in force for a term of thirty (30) days, automatically renewing month to month, unless one of the parties terminates it with at least fifteen (15) days' notice.
Suspension and Termination for Breach: Without prejudice to other rights or actions that may correspond to it under applicable Panamanian law, Akifue reserves the right to immediately suspend or cancel access to the service if the user breaches these Terms. Akifue may exercise this power when it detects or has reasonable indications of unlawful use of the service, including the infringement of intellectual property rights or any activity contrary to the law, public order or good customs. The suspension or cancellation of access shall not give rise to any right to compensation in favor of the user.
Governing Law: This agreement is governed by the laws of the Republic of Panama.
Dispute Resolution and Arbitration: Any controversy, dispute or claim arising out of or relating to these Terms shall be finally resolved by arbitration, administered by the Panama Conciliation and Arbitration Center (CeCAP), in accordance with applicable Panamanian law. The arbitral tribunal shall be composed of one (1) arbitrator. The language of the arbitration shall be Spanish. The arbitral award shall be final, binding on the parties and enforceable before any competent court. The parties expressly waive recourse to the ordinary courts, except for enforcement of the award or where the law so permits.
8. Modifications
Akifue may modify these Terms and Conditions of Use whenever it deems necessary. Substantial changes shall be notified by publishing a new version on the web portal or by email. Continued use of the platform implies acceptance of such terms and updates.
9. Financial Conditions
The prices applicable to the services offered by Akifue shall be set out in the current Fee Schedule, which forms an integral part of these Terms and Conditions. The amounts corresponding to subscriptions must be paid by the user in advance, as a prior condition for the activation and continuity of the services.
Akifue reserves the right to adjust subscription amounts annually, by up to a percentage equivalent to the variation of the Consumer Price Index (CPI) published by the National Institute of Statistics and Census (INEC) of the Office of the Comptroller General of the Republic of Panama for the immediately preceding calendar year.
Billing Disputes: The user must review the invoices issued by Akifue and submit any objection or dispute within thirty (30) calendar days following the date of issue. If that period elapses without a claim, the invoice shall be deemed accepted in its entirety for all legal purposes.
Contact
For questions about these Terms or the platform: contacto@akifue.com
For data protection matters: privacidad@akifue.com