Pharos Auditor

Legal & Trust

Terms of Service

Effective: April 2026

These Terms of Service ("Terms") form a binding agreement between Pharos Ventures, Inc. ("Pharos") and the entity or individual ("Customer") who registers for or uses the Pharos Auditor platform ("Service"). By clicking "I agree" during registration or by using the Service, Customer accepts these Terms.

1. Subscription & access

Pharos grants Customer a non-exclusive, non-transferable right to access the Service during the subscription term selected at registration or specified in a separate order form. Customer is responsible for all usage under its workspace, including users it invites.

2. Free trial

New Professional and Enterprise workspaces include a 14-day free trial. Pharos may end or modify the trial at its discretion. Customer must add a payment method before the trial ends to continue using the Service.

3. Customer data

Customer retains all rights in the data it uploads, generates, or produces through the Service ("Customer Data"). Pharos processes Customer Data solely to deliver the Service per these Terms, the Privacy Notice, and any executed Business Associate Agreement.

4. Acceptable use

Customer agrees not to:

  • Reverse engineer, decompile, or attempt to extract source code from the Service.
  • Upload content the Customer is not authorized to process.
  • Use the Service to develop a competing product.
  • Attempt unauthorized access to another tenant's data.
  • Share login credentials or bypass access controls.

5. AI outputs ("Aria")

Aria drafts workpapers, findings, and recommendations for human review. Pharos does not guarantee AI outputs are error-free, complete, or suitable for any particular audit determination. The Chief Audit Executive retains professional judgment and final approval authority per IIA Global Internal Audit Standards.

6. Fees

Fees are as stated at registration or in the applicable order form. Enterprise and Suite tiers are billed annually in advance. Pharos may change pricing with 30 days' notice effective at the next renewal.

7. Term & termination

Either party may terminate for uncured material breach on 30 days' notice. On termination, Customer may export its data within 30 days; thereafter Pharos will delete Customer Data subject to audit-log retention required by law.

8. Warranties & disclaimers

Pharos will provide the Service materially as described. EXCEPT AS EXPRESSLY STATED, THE SERVICE IS PROVIDED "AS IS" AND PHAROS DISCLAIMS ALL OTHER WARRANTIES, INCLUDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

9. Limitation of liability

Each party's aggregate liability under these Terms is capped at the fees paid by Customer in the 12 months preceding the claim. Neither party is liable for lost profits, indirect, consequential, or punitive damages. The cap does not apply to breaches of confidentiality, indemnity obligations, or willful misconduct.

10. Indemnity

Pharos will defend Customer against third-party claims that the Service infringes a US patent, trademark, or copyright, subject to prompt notice and cooperation. Customer will defend Pharos against claims arising from Customer Data or Customer's violation of Section 4.

11. Governing law

These Terms are governed by the laws of the State of Delaware, without regard to conflicts-of-law rules. Exclusive venue is in the state or federal courts located in Wilmington, Delaware.

12. Changes

We may update these Terms for new features or legal requirements. Material changes will be announced to tenant administrators in-app at least 30 days before the effective date.

13. Contact

Pharos Ventures, Inc. · Attn: Legal · legal@pharosventures.io