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This agreement governs the terms and conditions under which EKNOWTION LTD, a limited liability company, established under the laws of Cyprus, with Registration Number HE 449776 and registered seat at 13 Charilaou Xyloforou, Agios Athanasios, 4103 Limassol, Cyprus (hereinafter the “Provider”, “us”, “we”, “our”) provides services to you (hereinafter the “Customer”, “you”, “your”).  

The first part of the agreement sets out the key terms (“Key Terms”), followed by the legal terms and conditions (“Legal Terms”) on which we provide the services to you (together, the “Agreement”). 

By using the Software or paying the applicable Charges you agree to be bound by this Agreement. In the event you no longer wish to be bound by the Agreement, you must stop paying the Charges and cease utilising the Software.


Our Details

Registration number: HE 449776



We provide software applications developed for use in your analytical (Microsoft Power BI) or transactional systems (Microsoft Dynamics NAV, Microsoft Dynamics 365 Business Central or Xero) (“Software”).


Authorised Users

You are permitted a fixed number of  Authorised Users of the Software based on your level of subscription. Standard subscriptions are allowed 10 Authorised users of the Software, unless otherwise notified in writing. Premium subscriptions are allowed unlimited Authorised Users of the Software.


We will provide you with the services set out in Schedule 1. Any ancillary services provided by the Reseller and the Distributor will be between you and that party to the exclusion of us.

Commencement Date

The Commencement Date will be the day on which you pay the first month’s Charges, in full and cleared funds.


From the Commencement Date until you cease paying the applicable Charges, unless terminated earlier in accordance with clause 12 (“Term”).  


The subscription charges payable by you in each calendar month (“Subscription Charges”). Any fees payable outside of the Subscription Charges will be calculated on a time and materials basis (“Additional Charges”). The Additional Charges and the Subscription Charges are together, the “Charges”.

Method of Payment

Payment of any Subscription Charges will be via Stripe. Payment of the Additional Charges will be via invoice. Where you access the Software via a Reseller or Distributor, you may be required to pay the Subscription Charges or Additional Charges via an invoice raised by that party. You will always be notified in writing.

Payment Process

Payments made via Stripe will be in accordance with clause 5. All payments processed by invoices are due and payable within 7 days of being issued. The invoice will specify instructions for the payment of Charges.


The Provider and the Customer agree as follows.

1.    Definitions and Interpretation

1.1.    In this Agreement the following expressions have the following meanings, unless otherwise stated:

Agreement” means these terms and conditions as amended by us from time to time, including the Key Terms, any Schedules and any other documents expressly incorporated;

Authorised User” means those of your employees, agents and contractors who are authorised by you to use the Software and Services;

Business Day” means a day other than a weekend or public or bank holiday in the Republic of Cyprus;

Charges” means the charges set out in the Key Terms, including the Subscription Charges and Additional Charges, or as published by us from time to time;

Commencement Date” means the commencement date specified in the Key Terms, or if there is no date specified, the date that this Agreement is signed by the last of the parties to sign it; 

Consultants” means any employees, contractors, agents or consultants that we use to provide the Software and/or perform the Services;

Customer Data” has the meaning in clause 6.5;

Delivery Date” means an estimated delivery date for the provision of a Service, as set out in Schedule 1;

Developed IP” is defined in clause 6.3;

Distributor” means a distributor of the Software within the territory applicable to their distribution arrangement. The Distributor has the right to distribute the Software through other authorised Resellers.

Feedback” means ideas, suggestions, comments, input, or know-how, in any form, that you provide us in relation to our confidential information, products, or services; 

Intellectual Property Rights” means all present and future intellectual and industrial property rights throughout the world of whatever nature (whether or not registered or registrable) including but not limited to all rights in respect of technical information, know-how, copyright, trade marks, designs, patents, domain names, business names, logos, drawings, trade secrets, the right to have confidential information kept confidential or other proprietary rights, or any rights to registration of such rights;

Minimum Commitment” means the minimum Charges due under this Agreement as defined in the Key Terms;

Privacy Laws” means the Law providing for the Protection of Natural Persons with regard to the Processing of Personal Data and for the Free Movement of such Data of 2018 (Law 125(I)/2018),  Regulation (EU) 2016/679 (GDPR)  (as applicable and amended from time to time);

Provider IP” is defined in clause 6.2;

Related Bodies Corporate” has the meaning given in the Companies Laws, Cap. 113, as amended from time to time;

Reseller” means an authorised Value-Added Re-Seller (or Microsoft Partner) appointed by our Software Distributor and approved by us or appointed by us;

Services” means the services that we provide to you under this Agreement, including associated deliverables, as set out in Schedule 1; 

Software” means the software we provide under this Agreement as defined in the Key Terms and which includes any associated software, technology, code and all Intellectual Property Rights contained therein; and

Term” means the term of this Agreement as defined in the Key Terms.

2.    Use of the Software

2.1.    You will not, and you will ensure the Authorised Users will not:

(a)    modify the Software or merge any aspect of the Software with another programme other than as expressly provided under this Agreement;


(b)    record, reverse engineer, copy, duplicate, reproduce, create derivate works from, frame, download, display, transmit or distribute any of the Software, the source code of the Software or any documents, manuals or setup instructions provided with the Software or in relation to the Services;


(c)    licence, sell, rent, lease, transfer, assign or otherwise commercially exploit the Software or the Services;


(d)    engage in unlawful behaviour, including unauthorised access to or use of data, services, systems or networks, including any attempt to probe, scan or test the vulnerability of a system or network or to breach security or authentication measures;


(e)    access, store, distribute or transmit:

i.    viruses, worm, trojan or other malicious code that corrupts, degrades or disrupts the operation of the Software;
ii.    material that is unlawful, unethical, harmful, threatening, defamatory, obscene, infringing, harassing or racially or ethnically offensive or a contravention of the rights of any third party;
iii.    material that facilitates illegal activity; or
iv.    material that abuses or causes damage or injury to any person or property;


(f)    provide Software login details or passwords, or otherwise provide access to the Software, to any unauthorised third party and you will take all reasonable steps to prevent unauthorised access to, or use of, the Software;


(g)    share any features of the Software that are not publicly available with any unauthorised third party; and


(h)    engage in any conduct on the Software that is in breach of this Agreement (or any agreements mentioned therein).


2.2.    All rights granted to you under this Agreement are personal, and these rights must not be leased, assigned, sold, licensed, resold or transferred to any third party in any manner whatsoever. You must not in any way encumber or allow the creation of any mortgage, charge, lien or other security interest in respect of the Software. 


2.3.    Any breach of this clause 2 constitutes a breach of this Agreement and we may, at our absolute discretion, terminate or suspend your access to, and/or use of, the Software or the Services, and/or take further actions against you for breach of this Agreement. 

3.    Services

3.1.    We will perform the Services in return for payment of the applicable Charges.


3.2.    All Services will be provided based on the information and specifications supplied by you. All information that we provide is supplied in good faith, but we do not warrant or guarantee the accuracy or completeness of any information provided by us or any third party. It is not within the scope of our obligations to enquire as to, or to verify, the accuracy or completeness of information that we receive from you or any third parties. 


3.3.    We are not obliged to provide any Services under this Agreement that are not described in this Agreement.


3.4.    We will use reasonable endeavours to provide the Services promptly or by any applicable Delivery Date or such other dates as agreed by the parties in writing. Any Delivery Date or time quoted for delivery, commencement or completion of any part of the Services is an estimate only and time will not be of the essence.


3.5.    We may engage Consultants to perform our obligations under this Agreement at our discretion.


4.    Your obligations

4.1.    You acknowledge that our ability to be able to provide the Software and the Services to you without delay or interruption is dependent on your full and timely cooperation. You will (and will ensure that the Authorised Users will):

(a)    co-operate with and assist us in the supply of the Software and the Services;
(b)    promptly provide us with full and accurate information, data and explanations as and when required;
(c)    comply with all applicable laws, regulations and industry standards with respect to your activities and obligations under this Agreement;
(d)    ensure that your network and systems comply with the relevant specifications and guidelines provided by us from time to time; and
(e)    comply with all reasonable directions and guidelines from us as advised from time to time. 


4.2.    You must procure all necessary rights from third parties, which are from time to time required in order for us to be able to provide the Software or the Services to you.


4.3.    It is your responsibility to ensure that the Key Terms, invoice or any other written communications we send to you set out the correct information in relation to your business and that you notify us of any changes to this information during the Term.


4.4.    You must obtain a Power BI Pro licence for every user who utilises the Power BI components in the Software. In the event you have obtained a Power BI Pro licence in order to utilise the Software, you may elect to add us as a Digital Partner of Record (DPOR).

5.    Charges and Payment    

5.1.    You will pay us the Charges to access and use the Software and the Services in accordance with this Agreement.


5.2.    The Charges are exclusive of Value Added Tax (VAT) and any applicable local taxes in the jurisdiction in which you access the Software, unless stated otherwise, are in Euros (or the currency specified by the Reseller or the Distributor).


5.3.    If payment of the Charges is not received by any due date either described in the Key Terms or on a tax invoice provided to you, we will be entitled (without prejudice to any other right or remedy available to us under this Agreement or at law) to:

(a)    withhold provision of the Services, or suspend your access to any or all of the Software of the Services, until payment of the outstanding invoice (including interest) is received by us in full;
(b)    charge interest on the outstanding amount at the rate of eight per cent 8% per annum;
(c)    terminate this Agreement pursuant to clause 12.


5.4.    You will make all payments for the Charges without any deduction for tax unless a tax deduction is required by law. If you are required to make a tax deduction by law, the amount due will be increased to the amount that (after making the tax deduction) upon deduction of the amount attributable to tax equals the amount which would have been due if no tax deduction had been required.


5.5.    We may, at any time during the Term, increase the Charges by providing you with thirty (30) days’ days’ prior written notice. If you do not agree to these changes, you may terminate the Agreement by giving us thirty (30) days’ written notice no later than fourteen (14) days after the date you received written notice of the changes.


5.6.    Charges will likely increase on an annual basis, with any increases based on the Consumer Price Index (“CPI”) in Cyprus. Where the Charges are increased in accordance with the CPI, we will provide you notice as per clause 5.5.


5.7.    Payment processing services for the Charges are provided by Stripe and are subject to the Stripe Connected Account Agreement, which includes the Stripe Terms of Service (collectively, the “Stripe Services Agreement”). By placing an order and using Stripe to process payments you agree to be bound by the Stripe Services Agreement, which may be modified by Stripe from time to time. As a condition of enabling payment processing services through Stripe, you agree to provide us with accurate and complete information about you and your business, and you authorise us to share it and transaction information related to your use of the payment processing services provided by Stripe.


6.    Intellectual Property

6.1.    Subject to clauses 6.2 and 6.3, we grant you a personal, non-exclusive, non-transferable and revocable license to permit the Authorised Users to access and use the Software and the Services (including the Intellectual Property Rights contained therein) throughout the world during the Term. 


6.2.    All rights, title or interest in and to the Software and any information or technology that may be provided to, or accessed by, you in connection with your use of the Software or Services is owned, and will remain owned, by us or our licensors (“Provider IP”). Using the Software or the Services does not transfer any ownership or rights, title or interest in and to the Provider IP.


6.3.    All Intellectual Property Rights discovered, developed or otherwise coming into existence as a result of, for the purposes of, or in connection with, the Software or the provision of any Services, will automatically vest in, and are assigned to, us, including any enhancements, improvements and modifications to the Provider IP (collectively, the “Developed IP”). 


6.4.    You must not represent to anyone or in any manner whatsoever that you are the proprietor of the Software and/or the Provider IP. 


6.5.    You retain ownership rights to data and content that you provide to us, whether by uploading to the Software or otherwise (“Customer Data”). You grant us a worldwide, perpetual, irrevocable, non-exclusive and royalty free license to access and use the Customer Data for the purpose of performing our obligations under this Agreement. 


6.6.    You agree that we may refer to you, your business name, publish your logo and/or trade mark and make reference to you as a customer of ours in any communications or publications for the purposes of marketing or promoting our business.


6.7.    Any Feedback is given voluntarily, and you grant us, without charge, a non-exclusive license to make, use, modify, distribute, and commercialize the Feedback as part of any our products and services, in whole or in part and without regard to whether such Feedback is marked or otherwise designated by you as confidential. You retain all other rights in any Feedback and the rights granted under this section is merely a license under your owned or controlled non-patent intellectual property rights in the Feedback (which do not extend to any technologies that may be necessary to make or use any product or service that incorporates, but are not expressly part of, the Feedback, such as enabling technologies).

6.8. For information on how we manage and protect intellectual property, please see our Notice of Intellectual Property Rights.

7.    Warranties

7.1.    We will use reasonable endeavours to provide constant, uninterrupted access to the Software and the Services, but with any software based product, this cannot be guaranteed. We will not be responsible or liable for any direct or indirect losses or damages suffered or sustained by you as a result of, or in connection with, any interruption or delay in accessing and using the Software or the Services.


7.2.    We will investigate all problems or errors in any Services, provided that you notify us in writing within seven (7) days following delivery of those Services and you give us all necessary information to conduct an investigation into the matter. 


7.3.    To the maximum extent permitted by law, no further warranty, condition, undertaking or term, express or implied, statutory or otherwise as to the condition, quality, performance or fitness for purpose of the Software provided hereunder is given or assumed by us other than as required at law. You acknowledge and agree that the Software and the Services are provided on ‘as is’ basis and that you will make your own investigations into whether or not the Software and the Services are fit for your purposes. 


7.4.    We make no representations, warranties or guarantees:

(a)    that content available on, or produced by or via, the Software is accurate, complete, reliable, current, error-free or suitable for any particular purpose. This content is provided on an ‘as is’ basis and you acknowledge and agree that you exercise absolute discretion in choosing how to use this content; or
(b)    as to the availability of the Software or that the Software and/or the Services are or will be free from viruses, worm, trojan or other malicious code. You are responsible for taking your own precautions in this respect.


8.    Liability and Exclusions

8.1.    Our total liability to you or any third party (whether based on warranty, contract, tort, statute, misrepresentation or otherwise) arising out of, or in connection with, this Agreement, for any one event or a series of related events, will be limited to the total Charges paid (excluding VAT and expenses) by you to access and use the Software and the Services (as applicable) in the twelve (12) months immediately prior to the event(s) or the amount of recoverable insurance, regardless of whether any action or claim is based upon contract, warranty, tort (including negligence) or strict liability. In any case, our aggregate liability in connection to this Agreement shall not in any case exceed the amount actually paid by the insurance company in relation to this Agreement under our professional insurance policy.


8.2.    You assume sole responsibility for your use of the Software and the Services (including any content contained therein) and for any reliance on, and use of, conclusions drawn from such use. This explicitly includes any commercial or business decisions made in reliance on the Software, whether such decisions are commercially beneficial or not.


8.3.    We will have no liability for any losses suffered or any damage caused by errors or omissions in any information or instructions provided to us by you in connection with the Software, the Services or any actions taken by us at your direction. You bear the sole responsibility for verifying the accuracy and suitability of any information contained in the Software.


8.4.    In no event will we be liable to you or any third party for any: 

(a)    loss of profits, revenue, goodwill or business, business interruption, corruption, loss or alteration of data, downtime costs, loss of use, failure to realise anticipated savings or for any indirect or consequential loss or damage of whatsoever nature, however caused;
(b)    breach by you, any Authorised User or any third party of the Intellectual Property Rights of a third party or any laws, regulations or any relevant industry codes;
(c)    viruses, worm, trojan or other malicious code introduced into, or transmitted to, you or any third party during the course of using the Software or the Services; or
(d)    loss of or damage to any property belonging to you, any Authorised User or any third party or any personal injury or death arising out of or in connection with this Agreement.


8.5.    The parties acknowledge that the limitations of liability contained in this clause 8 are a fair and reasonable allocation of the commercial risk between the parties. 

9.    Indemnity

9.1.    You agree to indemnify and hold us, our Related Bodies Corporate and our officers, directors, employees and contractors (collectively, the “Indemnified”) harmless from and against any and all claims, actions, demands, proceedings, liabilities, losses, damages, expenses and costs that may be brought against the Indemnified or which the Indemnified must pay, sustain or incur as a direct or indirect result of or arising out of: 

(a)    breach by you or any Authorised User of any of your obligations under the Agreement;
(b)    loss of, or damage to, any property belonging to you, any Authorised User or any third party or any personal injury or death arising out of or in connection with this Agreement; 
(c)    breach of any third party’s Intellectual Property Rights; or
(d)    breach by you or any Authorised User of any law (including Privacy Laws). 


10.    Confidentiality

10.1.    Each party agrees not to use or disclose confidential information received or disclosed to it by the other party in the negotiation or operation of this Agreement, save for such use or disclosure necessary and required to perform their respective obligations under this Agreement. Disclosure will be, in any event, only made to the receiving party's employees, officers, agents or contractors to whom it is necessary to do so and who are directly involved in performing the receiving party's obligations.


10.2.    In making disclosure to persons as permitted under this clause 10, the receiving party will ensure that persons receiving the disclosing party’s confidential information will comply with the same obligations regarding confidentiality as that of the receiving party. 


10.3.    Information is not to be regarded as confidential, and the receiving party will have no obligation regarding confidentiality, where that information is already in the public domain or enters the public domain through no fault of the receiving party, is received from a third party without any obligations of confidentiality, is used or disclosed with the prior written consent of the disclosing party, is disclosed in compliance with a legal requirement or is independently developed by the receiving party.


10.4.    Any confidential information held by a receiving party will be returned to the disclosing party or destroyed at the written request of the disclosing party.

11.    Privacy

11.1.    You must, in connection with this Agreement:

(a)    ensure that you and your employees, contractors and agents are aware of your obligations under all applicable Privacy Laws;
(b)    at all times comply with your obligations under applicable Privacy Laws; and
(c)    take reasonable steps to assist us to comply with our obligations under applicable Privacy Laws as may be notified to you from time to time.


12.    Term and Termination

12.1.    This Agreement will commence on the Commencement Date and will continue in force for the Term specified in the Key Terms unless terminated in accordance with this clause 12.


12.2.    Either party may terminate this Agreement without cause at any time by providing the other party with one (1) months’ written notice. Alternatively, you may terminate this Agreement by providing one (1) months’ written notice to the Reseller or Distributor and ceasing to use the Software.


12.3.    We may terminate this Agreement (or at our discretion, the supply to you of the Software or the Services) immediately if you fail to pay any invoice and such sum remains unpaid for fourteen (14) days.


12.4.    Either party may terminate this Agreement immediately by giving written notice to the other party if:

(a)    the other party is in breach of this Agreement to a material extent and fails to remedy the breach within fourteen (14) days of being notified of the breach (if it is capable of being remedied); or
(b)    the other party is bankrupt, in a voluntary arrangement, in liquidation or receivership or has ceased business or threatened to cease business or is otherwise insolvent.


12.5.    On termination of this Agreement for any reason, we will be entitled to immediate payment for all Charges properly incurred up to the date of termination and during any applicable notice period, including any Minimum Commitment. All Subscription Charges are paid in advance and are non-refundable, regardless of circumstance.

12.6.    On the termination or expiry of this Agreement, you will return all of our confidential information, Provider IP, Developed IP and any other property belong to us in your possession, control or custody. 


13.    Non-Solicitation

13.1.    You will not attempt to employ, either directly or indirectly or as consultants, any of our Consultants during the term of this Agreement without our prior written consent. If you are in breach of this clause, we will be entitled to terminate this Agreement in accordance with clause 12.


14.    Situations or events outside our reasonable control

14.1.    There are certain situations or events that may occur which will not be within our reasonable control. Where this occurs, we will notify you of these circumstances and attempt to recommence providing the Software and/or the Services (as applicable) as soon as we are able. In such circumstances there may be a delay (sometimes a substantial delay) before we can start or continue performing the Software and/or the Services.

15.    Notices

15.1.    Any notice required to be given pursuant to this Agreement will, unless otherwise stated, be in writing and be sent to the other party at the email address specified in this Agreement (or to such other address as either party may from time to time notify the other in accordance with this clause).


15.2.    A notice given under clause 15.1 will be deemed to have been delivered 24 hours after the email is sent.


16.    Dispute Resolution

16.1.    The parties must, before resorting to court proceedings (except for interlocutory or interim relief), initially refer any dispute under or relating to this Agreement to a nominated representative of each party to endeavour to resolve the dispute within 20 days. If the dispute is not resolved within 20 days, then either party may, in its absolute discretion, initiate court proceedings.


17.    General    


17.1.    Variations to this Agreement will only be effective if in writing and signed by authorised representatives of both parties.


17.2.    The provisions of this Agreement that are capable of having effect after the termination or expiry of this Agreement will remain in full force and effect following the termination or expiry of this Agreement.


17.3.    You must not, without our prior written consent (which will not be unreasonably withheld), assign, transfer, charge, sub-contract or deal in any other manner with all or any of your rights or obligations under this Agreement. The Provider shall have the absolute right and may transfer, assign, charge, sub-contract or otherwise dispose of this Agreement, or any of the rights or obligations of the Agreement arising under it, at any time during the term of the Agreement. For the avoidance of any doubt, we shall have the absolute right to grant exclusive license for the utilisation of our Intellectual Property Rights and/or to sell or assign or dispose in any way all Intellectual Property Rights to any third party at any time during the term of this agreement or any renewal of the same thereafter.


17.4.    If either party chooses to waive or ignore a breach of the Agreement, this will not prevent that party from taking action in respect of the same type of breach at a future date. 


17.5.    Nothing in this Agreement is intended to create or imply any partnership, joint venture, agency, fiduciary relationship or other relationship between the parties other than the contractual relationship expressly provided for in this Agreement. Neither we nor you will have, nor represent that it has, any authority to make any commitments of this kind on the other party's behalf.


17.6.    This Agreement, and the relationship between the parties contemplated by it, is not intended to be exclusive.


17.7.    If any provision of this Agreement is held invalid or unenforceable, such provision will be deemed deleted from this Agreement and replaced by a valid and enforceable provision which so far as possible achieves the parties' intent in agreeing to the original provision. The remaining provisions of this Agreement will continue in full force and effect.


17.8.    This Agreement , its subject matter or its formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of the Republic of Cyprus and submitted to the non-exclusive jurisdiction of the Courts of the Republic of Cyprus.


17.9.    This Agreement may be executed electronically and in any number of counterparts. All counterparts together will be taken to constitute one instrument. 


17.10.    This Agreement constitutes the entire agreement between the parties in respect of the subject matter of this Agreement and supersedes and replaces any prior written or oral agreements, representations or understandings. The parties confirm that they have not relied on any representation that is not expressly incorporated into this Agreement.


Schedule 1  -  Services

Access to the Software


Deliverable: Ongoing access and use of the Software.

Delivery Date: On and from the Commencement Date

Customisation of the Software

Deliverable: We may provide you with customised solutions for the Software from time-to-time. Any request for a customised solution should be made via All customised solutions are developed remotely. The Additional Charges and delivery relating to all customised solutions will be agreed to in writing between the parties.

Delivery Date: To be agreed between the parties in writing.

Software Support Services & Training

Deliverable: We (or the Reseller or Distributor, if they have provided you with access to the Software) will provide you with Software Support Services, including training and technical support. The Additional Charges pertaining to delivery of Software Support Services will be agreed to in writing between the parties.

Delivery Date: To be agreed between the parties in writing.

Software Malfunction Repair

Deliverable: Following submission by you of any malfunction, we, at our discretion, will determine whether the malfunction is critical or non-critical. 

  • If there is a critical malfunction, we will endeavour to repair this malfunction within 72 hours; and

  • We will endeavour to repair all non-critical malfunctions in a reasonable time frame.

  • We will aim to respond to all submissions within 1-3 Business Days.

We will notify you if we are unable to repair a critical malfunction within the stated time frame.

We will be available to provide such Software Malfunction Repair during standard Business Days between 9.00 am – 5.00 pm CET. We may, from time-to-time, offer Software Support Services outside this time, at our absolute discretion.

Delivery Date: During the Term of the Agreement.

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