Terms of Service

01Acceptance of Terms

By accessing or using PExP at https://pexp.cotek.live, creating an account, accepting an invitation, or checking “I agree” during registration, you confirm that you have read, understood, and agree to be bound by these Terms and our Privacy Policy, which is incorporated herein by reference.

If you do not agree to these Terms, you may not use the service. If you are using PExP on behalf of an organisation, you represent that you have authority to bind that organisation to these Terms.

These Terms constitute a legally binding agreement under UAE Federal Law No. 46 of 2021 on Electronic Transactions and Trust Services. Your electronic acceptance at registration carries the same legal weight as a written signature.

02Who We Are

PExP is operated by Cotek FZ LLC, a company registered in the Ras Al Khaimah Free Zone (RAKEZ), United Arab Emirates.

For all queries related to these Terms, contact us at support@cotek.live.

03Description of Service

PExP is a private, invitation-based personal finance ledger platform. It allows users to track income, expenses, transfers, debts, recurring transactions, and budgets within individual or shared household ledgers.

PExP is a record-keeping tool only. It is not a bank, financial institution, payment processor, investment adviser, tax adviser, or any other regulated financial service under UAE law or any other jurisdiction. We do not hold, move, or process money on your behalf. Any financial decisions you make based on information in PExP are your own responsibility.

The service includes:

• Access to your personal ledger and financial tracking tools
• AI-assisted features including receipt scanning and natural-language financial queries (paid tier only)
• Full analytics, charts, and budget tracking (paid tier only)
• Email notifications and push notifications relating to your ledger activity
• Shared ledger access for household or family members via invitation
• A free trial with defined limits (see Section 10)

04Eligibility

You must be at least 18 years of age to create an account and use PExP. By registering, you represent and warrant that you are 18 or older and have the legal capacity to enter into a binding agreement under the laws of your jurisdiction and the laws of the UAE.

PExP is available by open registration or direct invitation as determined by Cotek FZ LLC. We reserve the right to restrict, suspend, or terminate access to any person at any time at our sole discretion, subject to Section 16.

You represent that your use of PExP does not violate any applicable law in your jurisdiction, including laws governing personal finance tracking, data privacy, and electronic transactions.

05Account Registration & Security

To use PExP you must create an account with a valid email address and password. You agree to:

• Provide accurate, current, and complete information at registration
• Keep your password secure and confidential — do not share it with anyone
• Notify us immediately at support@cotek.live if you suspect unauthorised access to your account
• Accept responsibility for all activity that occurs under your account
• Not create more than one personal account without our prior written consent
• Not transfer your account to another person

We are not liable for any loss or damage arising from your failure to keep your account credentials secure.

06Acceptable Use

You agree to use PExP only for lawful purposes and in accordance with these Terms. You must not:

• Use the service to facilitate fraud, money laundering, tax evasion, or any other illegal activity
• Attempt to gain unauthorised access to another user's account or ledger data
• Reverse-engineer, decompile, disassemble, or otherwise attempt to derive the source code of the service
• Introduce viruses, malware, or any other harmful code into the service
• Use automated scripts, bots, or scrapers to access the service without our written consent
• Impersonate any person or entity or misrepresent your affiliation with any person or entity
• Use the service in any way that could damage, disable, overburden, or impair the service or servers
• Attempt to circumvent any security measure, access control, entitlement gate, or rate-limiting measure
• Share your account credentials with individuals who have not agreed to these Terms
• Use the AI features to generate false financial records or to deceive third parties

Violation of these provisions may constitute an offence under UAE Federal Decree-Law No. 26 of 2021 on Combating Cybercrimes. We reserve the right to report suspected criminal activity to the relevant UAE authorities.

We reserve the right to suspend or terminate your account immediately if we reasonably believe you have violated any of these provisions.

07Your Data & Content

You retain full ownership of all financial data, entries, categories, notes, and other content you input into PExP (“Your Content”). By using the service, you grant Cotek FZ LLC a limited, non-exclusive, royalty-free licence to store, process, and display Your Content solely for the purpose of providing the service to you. This licence terminates upon account deletion.

You are solely responsible for the accuracy of Your Content. PExP does not verify, audit, or validate any financial data you enter. We make no representation that data entered into PExP is suitable for tax, legal, accounting, regulatory, or any other professional purpose.

You agree that Your Content does not and will not violate any applicable law or the rights of any third party, including privacy rights, intellectual property rights, or contractual obligations.

You must not enter into PExP any sensitive personal data of third parties (including health data, national ID numbers, or financial account credentials of others) without their explicit consent.

For full details of how we handle your data, please read our Privacy Policy.

08Subscription, Payment & Access Tiers

PExP is offered on a freemium basis. The following access tiers are available:

Free trial

• Available to all registered users at no charge
• Includes: up to 50 entries, 10 debts, 2 invites, dashboard KPIs, recurring entries, notifications, PDF export
• Excludes: full analytics and charts, AI financial assistant, receipt scanning (see Section 10)

Lifetime access — Early Bird ($49 one-time)

• A single one-time payment of USD 49 grants permanent lifetime access to all features
• No recurring charges. Access does not expire.
• Includes all current features and all future features added to the platform
• Price is subject to change for new purchasers after the early bird period ends. Your access price is locked at the time of purchase.

Instalment plan ($8/month × 12 months)

• 12 monthly payments of USD 8 each, totalling USD 96
• Full feature access is granted from the first payment
• After all 12 payments are received, the plan converts automatically to lifetime access and no further charges are made
• If payments cease before month 12, access continues until the last paid month and does not convert to lifetime

Payment processing

• Payments are processed by Stripe Inc., a PCI-DSS compliant payment processor
• We do not store your card number, CVV, or full payment credentials
• All prices are quoted in USD. Your bank or card provider may apply conversion fees
• You will receive an email confirmation of each payment

09Refund Policy

Under UAE Federal Law No. 15 of 2020 on Consumer Protection and applicable e-commerce regulations, the following refund terms apply:

One-time lifetime payment ($49)

• You may request a full refund within 14 days of purchase if you have not made substantial use of the paid features (AI, analytics, receipt scanning).
• After 14 days, or if paid features have been substantially used, refunds are at our sole discretion.
• To request a refund, email support@cotek.live with your account email and payment confirmation.
• Approved refunds are processed within 10 business days to your original payment method.

Instalment plan ($8/month)

• You may cancel the instalment plan at any time by emailing support@cotek.live.
• Upon cancellation, no further charges will be made.
• Access continues until the end of the last paid month. No partial-month refunds are issued.
• Payments already made are non-refundable except where required by applicable consumer protection law.

Chargebacks

If you initiate a chargeback with your bank without first contacting us, we reserve the right to suspend your account pending resolution. We encourage you to contact us at support@cotek.live before disputing a charge — we will work to resolve any issue promptly.

10Feature Restrictions & Entitlement

PExP uses a tiered access model. Certain features are only available to users with a valid paid access grant. This is clearly communicated in the application and on our pricing page.

Features available on free trial

• Entry logging (up to 50 entries)
• Debt tracking (up to 10 debts)
• Account and category management
• Dashboard KPIs and basic summaries
• Recurring entry rules and reminders
• Debt due notifications
• Monthly close
• PDF export
• Up to 2 ledger invites

Features requiring lifetime access

• Full analytics: 6-month trend charts, category breakdown, daily spend, member contributions
• Budget goals vs actuals tracking
• AI financial analyst — natural language queries about your data
• Receipt scanning via camera
• Unlimited entries, debts, and invites

When a free user attempts to access a paid-only feature, they will be shown an upgrade prompt. The paid features are not accessible via any workaround — they are gated at the server level.

Cotek FZ LLC reserves the right to modify the features included in each tier. Where a feature is moved from the free tier to a paid tier, existing free users will be notified at least 30 days in advance.

11Intellectual Property

All software, code, design, interfaces, trademarks, trade names, logos, and other intellectual property associated with PExP are the exclusive property of Cotek FZ LLC or its licensors. These Terms do not grant you any rights to use Cotek FZ LLC's intellectual property except as expressly set out herein.

The name “PExP”, the PExP logo, and the tagline “Make your money obey truth, not vibes” are proprietary to Cotek FZ LLC. You may not use them without our prior written consent.

Any feedback, suggestions, or ideas you provide to us about the service may be used by us to improve the service without any obligation to compensate you.

12Third-Party Services

PExP integrates with third-party providers to deliver the service, including Neon (database), Vercel (hosting), Resend (email), Anthropic (AI features), and Stripe (payments). Your use of these integrations is subject to the respective third parties' terms and privacy policies.

We are not responsible for the availability, accuracy, security, or conduct of any third-party service. Links to third-party websites or services from within PExP are provided for convenience only and do not constitute endorsement by Cotek FZ LLC.

The AI features in PExP are powered by Anthropic's Claude API. AI responses are generated automatically and may contain errors or inaccuracies. They do not constitute financial, legal, investment, or tax advice. You should always verify AI-generated information independently before acting on it.

Payment services are provided by Stripe Inc. By making a purchase, you also agree to Stripe's terms of service and privacy policy.

13Disclaimers

PExP is provided on an “as is” and “as available” basis without any warranties of any kind, either express or implied, including but not limited to:

• Warranties of merchantability, fitness for a particular purpose, or non-infringement
• Warranties that the service will be uninterrupted, error-free, or secure
• Warranties that any data stored in the service will not be lost or corrupted
• Warranties as to the accuracy or completeness of any AI-generated output
• Warranties that the service is suitable for tax, accounting, legal, regulatory, or investment purposes
• Warranties as to the continued availability of any specific feature within the free tier

Cotek FZ LLC does not warrant that the service will meet your specific requirements or that defects will be corrected within any specific timeframe. Use of the service is entirely at your own risk.

PExP is not a regulated financial product under UAE Central Bank regulations, UAE Securities and Commodities Authority rules, or any equivalent financial regulatory framework in any jurisdiction. No regulatory protection applies to your use of the service.

14Limitation of Liability

To the fullest extent permitted by applicable law, Cotek FZ LLC and its officers, directors, employees, and agents shall not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, including but not limited to:

• Loss of data, revenue, profits, goodwill, or business opportunities
• Financial loss resulting from decisions made based on data entered into or generated by the service
• Unauthorised access to or alteration of your account or data
• Service interruptions, downtime, or data loss
• Errors or inaccuracies in AI-generated output
• Actions or failures of third-party service providers (Neon, Vercel, Resend, Anthropic, Stripe)
• Any other loss arising from your use of or inability to use the service

Our total aggregate liability to you for any claim arising under or in connection with these Terms shall not exceed the greater of (a) the total fees paid by you to us in the twelve months preceding the claim, or (b) USD 100. This cap applies regardless of the form of action — contract, tort, negligence, strict liability, or otherwise.

Nothing in this section excludes or limits our liability for: (i) death or personal injury caused by our negligence; (ii) fraud or fraudulent misrepresentation; (iii) any liability that cannot be excluded or limited by applicable UAE law or the mandatory consumer protection laws of your jurisdiction.

Some jurisdictions do not allow the exclusion or limitation of liability for certain types of damages. In such jurisdictions, our liability is limited to the maximum extent permitted by law.

15Indemnification

You agree to indemnify, defend, and hold harmless Cotek FZ LLC and its officers, directors, employees, agents, and licensors from and against any claims, liabilities, damages, losses, costs, or expenses (including reasonable legal fees) arising out of or relating to:

• Your use of or access to the service
• Your violation of these Terms or our Privacy Policy
• Your violation of any applicable law or the rights of any third party
• Any content you submit, post, or transmit through the service
• Your negligence or wilful misconduct
• Any dispute between you and another user of the service

16Termination

Termination by you

You may stop using PExP and request account deletion at any time by emailing support@cotek.live. Upon deletion, your personal data and financial entries will be permanently removed within 30 days in accordance with our Privacy Policy. Deletion does not entitle you to a refund except as provided in Section 9.

Termination by us

We reserve the right to suspend or terminate your account, with or without prior notice, if we reasonably believe you have:

• Violated these Terms or our Privacy Policy
• Engaged in fraudulent, abusive, or illegal activity
• Posed a security risk to the service or other users
• Failed to pay applicable subscription fees after reasonable notice
• Provided false information at registration

Upon termination by us for cause, you will not be entitled to a refund of any fees paid. Upon termination for reasons other than cause (e.g., service discontinuation), we will provide reasonable notice and a pro-rata refund of any prepaid subscription fees.

Effect of termination

On termination, your right to access and use the service ceases immediately. Sections 7, 11, 14, 15, 17, and 18 of these Terms shall survive termination.

17Governing Law & Disputes

These Terms and any dispute arising from or in connection with them shall be governed by and construed in accordance with the laws of the Emirate of Ras Al Khaimah and the federal laws of the United Arab Emirates, including UAE Federal Law No. 15 of 2020 (Consumer Protection), Federal Law No. 46 of 2021 (Electronic Transactions), and Federal Decree-Law No. 45 of 2021 (PDPL).

Before initiating any formal proceedings, you agree to first contact us at support@cotek.live and attempt to resolve the dispute informally in good faith. If the dispute is not resolved within 30 days of written notice, either party may pursue formal resolution.

Any unresolved dispute shall be submitted to the exclusive jurisdiction of the competent courts of Ras Al Khaimah, UAE. Notwithstanding this, users in jurisdictions with mandatory consumer protection laws retain the right to bring claims under those laws in their local courts.

Nothing in this section prevents either party from seeking urgent injunctive or other equitable relief from a court of competent jurisdiction.

18General Provisions

Entire agreement

These Terms, together with our Privacy Policy, constitute the entire agreement between you and Cotek FZ LLC regarding the service and supersede all prior agreements, representations, or understandings.

Severability

If any provision of these Terms is found to be unenforceable or invalid under applicable law, that provision shall be modified to the minimum extent necessary to make it enforceable. The remaining provisions shall continue in full force and effect.

Waiver

Failure by Cotek FZ LLC to enforce any right or provision of these Terms shall not constitute a waiver of that right or provision unless acknowledged in writing.

Force majeure

Cotek FZ LLC shall not be liable for any failure or delay in performance due to circumstances beyond our reasonable control, including acts of God, natural disasters, war, sanctions, cyberattacks by third parties, or failures of third-party infrastructure providers.

Assignment

You may not assign or transfer your rights or obligations under these Terms without our prior written consent. Cotek FZ LLC may assign these Terms in connection with a merger, acquisition, or sale of assets, provided the acquiring entity agrees to be bound by the same obligations to you. You will be notified of any such assignment.

No partnership

Nothing in these Terms creates a partnership, joint venture, agency, franchise, or employment relationship between you and Cotek FZ LLC.

Language

These Terms are written in English. In the event of any conflict between an English version and a translated version, the English version shall prevail.

19Changes to These Terms

We may update these Terms from time to time to reflect changes in our practices, pricing, the law, or the service. When we make material changes, we will:

• Update the "Last updated" date at the top of this page
• Send an email notification to all registered users at least 14 days before the changes take effect
• Display an in-app notification via the notification bell
• Where a change affects paid features or pricing, provide at least 30 days' advance notice

Your continued use of PExP after the effective date of updated Terms constitutes your acceptance of the changes. If you do not agree to the updated Terms, you must stop using the service and may request account deletion before the effective date.

20Contact

For any questions about these Terms, please contact us:

We aim to respond to all enquiries within 5 business days.