Terms of service

Berlin, 01.01.2022

Denario GmbH, with its registered office at Gormannstr. 14, 10119 Berlin, Germany, and registered with the Commercial Register of the Local Court of Charlottenburg under the registration number HRB 230837 B, operates an Internet portal at https://www.denario.io/ (the "Denario Portal") and a web and mobile application and, in cooperation with its partners, provides "Payment Services" and other functionalities for the management and control of business finances (together the "Denario Services"). The Denario Services are aimed exclusively at start-ups and small and medium-sized businesses (SMBs).

1. Definitions

In these General Terms of Service ("GTS"), the terms below have the following meaning:

"Subscription" refers to the offer subscribed by the Customer to the Licensing Entity allowing access to certain Denario Services, in return for payment of the price defined by the Licensing Entity.

"GTS" refers to the present general conditions of services.

"Customer" means a natural or legal person who has created an account on the Denario Website, accepted the GTS and, if applicable for the Payment Services, electronically signed the Swan General Terms and Conditions.

"Payment Service" means a service provided by Denario and offered to the Customer by Swan allowing (i) the opening of the Payment Account, (ii) the order of Cards, (iii) participation in the authorisation of a payment, (iv) the preparation and authorisation of transfer requests, (v) the preparation and authorisation of direct debits, and (vi) the transmission of requests to dispute payment transactions.

"Swan General Terms and Conditions" means the agreement between the Customer and Swan governing the use of Payment Services.

"KYC Documents" means the documents the End Customer has to provider Swan in order to subscribe to the Denario Services.

"Intellectual Property Rights" means all intellectual property rights as provided for by national and international conventions and, in particular, copyrights, trademarks, patents, trade names (including internet domain names and email address names), copyrights, moral rights, rights in all models, rights in all databases, know-how, whether or not registered or registrable and subsisting in any part of the world.

"Licensing Entity" means Denario or the Denario Partner with whom the Customer has subscribed to Denario Platform.

“Denario” Denario GmbH, a Limited Liability Company under German law with a capital of 28.592 Euros, whose headquarters is situated at Gormannstr. 14, 10119 Berlin, Germany, registered with the commercial register of the Local Court Charlottenburg under the number HRB 230837, who Swan has entrusted a mandate as an intermediary to offer the subscription of Payment Services to its Customers in its capacity as a Commercial Agent.”

"Denario Partner" means the company, Denario authorized to market Denario Services and to allow access to the Denario Platform for all or part of the Denario Services.

"Denario Platform" refers to the online services platform developed by Denario and accessible to Users on the Site after having entered their login details via https://app.denario.io or via the "Denario" mobile application or via the Denario Partner.

"Denario Services" means the services provided by Denario to the Customer in accordance with the GTS and the Denario Portal, including Payment Account Management Services and/or Invoice Management Services and/or Additional Services.

"Additional Services" means the services other than Invoice Management Services and Payment Account Management Services, provided by Denario to the Customer, and as described on the Site. Additional Services may be subject to payment by the Customer of an additional fee.

"Invoice management services" means the services as defined in article 3.2.1 of the GTS.

"Payment account management services" means the services as defined in article 3.2.2 of the GTS.

“Payment account information service” is the service referred to in Article L. 314, II, 8° of the Monetary and Financial Code and as defined in Recital 28 of Directive 2015/2366 of 25 November 2015 (the "PSD2") as consisting of providing via the Solution to the Customer aggregated online information concerning one or more Payment Accounts that the Customer holds with one or more other payment service providers and which are accessible via online interfaces in order to allow the Customer’s or the Users to have an immediate overview of the Customer’s financial situation at a given time.

"Denario Portal" refers to the website published by Denario and accessible at https://www.denario.io/

"User" means any natural person identified and authorized by the Customer to use the Denario Services to which he/she has subscribed.

“Swan” Swan, a simplified joint-stock company (SAS) with a capital of 21 011,85 Euros, whose registered office is located at 95 avenue du président Wilson, 93100, Montreuil, registered with the Bobigny Trade and Companies Register under number 853 827 103, acting as an electronic money institution authorised by the French Prudential Supervisory Authority (Autorité de contrôle prudentiel et de résolution - ACPR), under the bank code (CIB) 17328, and authorised to provide payment services.

Those are provided by Denario and not by Swan.

2. Acceptance of the GTS

Any access to the Denario Platform and/or use of the Denario Platform implies the acceptance and respect of all the terms of the GST and their unconditional acceptance. They are accessible at any time on the website.

Acceptance of the GTS by the Customer is materialised by a click validating the following statement: "By signing up you agree to our privacy policy and general terms of service” during the registration process.

All Customers are bound by the GTS.

By accepting the GTS, the Customer and/or the User certifies:

  • that the Customer is acting for associative or professional purposes, within the framework of a commercial, industrial, craft or liberal activity;
  • that he/she has the full capacity to commit him/herself or the Customer under the GTS. In particular, if the user who creates the account for the Customer on the Denario Platform is a chartered accountant, he/she guarantees to have obtained the Customer’s prior written agreement to create the said account;
  • to have accepted without reservation the GST.

2.1 Purpose

The Licensing Entity offers the Customer the possibility to subscribe to Denario Services and to access them through the Denario Platform. The purpose of the GTS is to define the conditions under which the Licensing Entity authorizes the Customer to use the Denario Services and the Denario Platform.

2.2 Intellectual property

The Denario Portal and the Denario Platform, as well as all the elements that make them up (such as brands, logos, computer programs, graphic guidelines, images, texts) are the exclusive property of Denario or have been granted to it.

The GTS do not imply any transfer of intellectual property rights of any kind on the elements belonging to Denario. The Customer must not directly or indirectly infringe Denario’s intellectual property rights.

Denario grants Customers, who accept it, the non-exclusive, personal and non-transferable right, for the duration of the present contract, to access the Denario Platform and to use the Denario Platform for the sole purpose of accessing Denario Services.

Any reproduction, distribution or publication of content or extracts from the website or the Denario Platform without prior written permission from Denario is prohibited.

The brands appearing on the website and the Denario Platform are registered and protected trademarks with the Trademark Division of the European Union Intellectual Property Office (EUIPO) under "Denario" (No. 018517953) in the trademark register. Any total or partial reproduction of the trademarks on the Website and the Denario Platform, made from elements of the Website or the Denario Platform without Denario’s express authorization is prohibited.

3. Terms of service and access to the Denario Platform

The Denario Platform and Denario Services are accessible to all Users designated by the Customer.

3.1 Registration on the Denario Platform

In order to benefit from Denario Services on the Denario Platform, the Customer must (i) create an account, (ii) provide the information required by the Licensing Entity, which the Customer guarantees to be true and accurate, and (iii) for Payment Account Management Services, subscribe to a Subscription.

The Licensing Entity may in particular require the Customer to provide:

  • the documents necessary for the validation of the Customer’s Payment Account required by Swan allowing the opening of a Payment Account (the "KYC Documents") as well as the electronic signature of the Swan General Terms and Conditions;
  • all information necessary for the verifications required by the legal and regulatory obligations.

The Subscription the Customer subscribed to defines a number of Users authorised to use the Services on behalf of the Customer.

An account cannot be used or shared by several Users.

The Licensing Entity reserves the right to check the number of accounts created by the Customer and the conditions of use of said accounts.

In the event of fraudulent use or attempted fraud, the Licensing Entity may, at its discretion: (i) ask the Customer to regularize the situation and pay an additional fee, without prejudice to any claim for damages, and/or (ii) suspend the User's and/or the Customer’s account, and/or (iii) permanently delete the unauthorized accounts, and/or (iv) terminate the GTS in accordance with article 7 of the GTS.

After registration on the Denario Platform and validation of their account by the Licensing Entity, Customers can access their Customer area to use the Denario Services they have subscribed to.

3.2 Description of Denario Services

The Licensing Entity offers Customers access to Denario Services under the conditions described hereafter, and subject to any subsequent evolution of functionalities and technical means for the purpose of providing Denario Services.

3.2.1 Payment account management services

In order to execute Payment Transactions by transfer or by direct debit, the Customer  can fund his/her Payment Account either (i) by transfer to the credit of his Payment Account, or (ii) by signing a SEPA direct debit mandate provided by Swan ("automatic funding") allowing debits from the Payment Account that is connect via the Payment Account Information Service to the Payment Account created on the Denario Platform.

In the event that the Customer objects to a withdrawal from the Payment Account that he/she connected via the Payment Account Information Service, resulting in the Payment Account created on the Denario Platform being in debt, Denario will be entitled to initiate a withdrawal from the Payment Account the Customer connected via the Payment Account Information Service, to the Customer's Payment Account created on the Denario Platform in the amount that the Customer is in debt so that the Customer's Payment Account created on the Denario Platform keeps a zero balance.

Consequently, the Customer expressly accepts that the amount he/she owes is debited from his/her Payment Account that he/she connected via the Payment Account Information Service to fund his/her Payment Account created on the Denario Platform according to the terms and conditions stipulated above.

3.2.2 Invoice management services

The Denario Platform allows Customers to scan their invoices and expense reports (the "Invoices") and to consult them on the Denario Platform at any time.

Customers declare that they are informed that the purpose of this dematerialization process is to allow Customers to keep a digital copy of their Invoices, but that it is their responsibility to keep, by their own means, the original Invoices, under conditions that comply with the regulations in force, in particular for the purposes of their possible control by the tax authorities.

3.2.3 Supplier invoice management services

Denario provides Customers with a service for collecting, managing and monitoring their supplier Invoices, consulting bank accounts and viewing cash flow.

3.2.4 Additional services

In case of subscription by the Customer to Additional Services, the conditions specific to these Additional Services will have to be accepted by the Customer who commits to pay an additional fee determined by the Licensing Entity in accordance.

4. Financial conditions

4.1 Denario Services prices

The prices of the Services are available at the following address: https://www.denario.io/en/pricing. The prices of Denario Services are those applicable at the time the Customer orders Denario Services from the Licensing Entity. Each subscription includes a number of payments that can be initiated by the Customer from his/her Payment Account.

Unless otherwise stated, all prices are in Euros and exclusive of tax.

4.2 Price revision

Prices for Denario Services may be revised at any time by the Licensing Entity, at its own discretion. Customers will be informed by any useful means, at least one (1) month before the date of entry into force of the new prices.

Once in force, the new prices apply when renewing the subscription to Denario Services.

Customers who do not accept the new prices must terminate their Subscription by writing to support@denario.io. Otherwise, they will be deemed to have accepted them.

4.3 Invoicing and payment

Unless expressly stated otherwise by the Licensing Entity when subscribing to the Subscription, the sums due for the Subscription are debited by the Licensing Entity at the beginning of each Period, directly from the Customer’s Payment Account that is connect via the Payment Account Information Service or by any other means of payment proposed by the Licensing Entity.

Denario Services are subject to monthly invoices made available to the Customer on the Website, by email or by any other means determined by the Licensing Entity.

If there are no funds in the Payment Account that the Customer connected via the Payment Account Information Service at the time of payment, the payment will be debited from the Payment Account. If there are no funds in the Payment Account on that date, the account will be debited as soon as sufficient funds are credited to the Customer’s Payment Account in the month following the first debit attempt. Otherwise, the price of Denario Services will be paid to Denario by the Customer by any means.

Consequently, the Customer expressly accepts that the price of the Services will be debited from his/her Payment Account that is connected via the Payment Account Information Service or the Payment Account by Denario according to the above terms.

5. Proof of agreement

Customers acknowledge and expressly accept that:

  • technical data, and in particular User connection logs, relating to the use of Denario Services on the Denario Platform, as well as any other technical data collected and processed by means of Denario’s computer equipment, are proof of the reality of the operations carried out within the framework of this agreement;
  • the data described above is the main form of proof accepted between the parties, in particular for the calculation of sums due to Denario. Customers can access this data on the Denario Platform.

6. Customer’s obligations

Without prejudice to the other obligations set out in these terms of service, the Customer agrees to respect the following obligations:

  • The Customer agrees, in its use of Denario Services, to respect the laws and regulations in force and not to infringe upon the rights of third parties or public order.
  • The Customer who has subscribed to the Payment Account Management Services also undertakes to fulfil the obligations to which he is subject in application of the Swan General Terms of Use.
  • The Customer also undertakes to comply with the fiscal and social legislation in force. In this respect, the Customer shall refrain from any concealed work by concealment of salaried employment and shall fulfil its obligations relating to the declaration of employees to social protection organisations, the keeping of a personnel register, as well as the establishment and delivery of pay slips.
  • The Customer acknowledges that he/she has read the characteristics and constraints of all Denario services, particularly the technical ones, on the website. They are solely responsible for their use of Denario Services.
  • The Customer agrees to make strictly personal use of Denario Services. Consequently, the Customer is not allowed to assign, concede or transfer all or part of its rights or obligations under the present contract to a third party, in any way whatsoever.
  • The Customer undertakes to provide the Licensing Entity with all information necessary for the proper execution of Denario Services. More generally, the Customer agrees to actively cooperate with the Licensing Entity for the proper execution of the present contract and to provide it with any additional documents and information that the Licensing Entity may request during the execution of the Services. When the Licensing Entity is the Denario Partner, the Customer is informed and accepts that all this information will be transmitted to Denario for the purpose of providing the Denario Services.
  • The Customer acknowledges that the Payment Account is intended to be used in the context of Denario Services in accordance with the GTS and the Swan General Terms and Conditions.
  • The Customer is informed and accepts that the implementation of Denario Services and access to the Denario Platform requires that he/she be connected to the Internet and that the quality of Denario Services depends directly on this connection, for which he/she is solely responsible. Denario can in no way be held responsible for Internet connection problems, loss of network, non-receipt of an email or other restrictions or impossibilities to access the Denario Platform that are not under Denario’s control.
  • The Customer guarantees that all the information provided by the Customer during the registration process and during the use of the Services, and in particular the KYC Documents, are accurate, up to date and sincere and are not misleading. In the event of any modification or change to this information, the Customer undertakes to update it without delay.
  • The Customer agrees to promptly inform Denario of any suspected theft or fraudulent use of a user's password or login. Any action carried out by a person using a User's login and password will be deemed to have been carried out by the Customer, unless Denario is notified in writing within a reasonable period of time of a suspected theft or fraudulent use of said login and password.

7. Customer guarantees

The Customer indemnifies Denario against all claims, complaints, actions and/or demands of third parties (including employees of the Customer or the Licensing Entity) that Denario may suffer as a result of the Customer's breach of any of its obligations or warranties under these terms and conditions.

The Customer agrees to compensate Denario for any damage it may suffer as a result of the Customer’s actions and to pay all costs, charges and/or judgements it may incur as a result.

7.1 Prohibited behaviour

The Customer is informed and accepts that it is strictly forbidden to use Denario services for the following purposes:

  • carrying out illegal or fraudulent activities or activities that infringe on the rights or security of third parties,
  • undermining public order or violating laws and regulations in force,
  • any behaviour likely to be the subject of prosecution and/or criminal or administrative convictions,
  • intrusion into the computer system of the Licensing Entity or of a third party or any activity of a nature to harm, control, interfere with or intercept all or part of this computer system, to violate its integrity or security, the sending of unsolicited emails and/or commercial canvassing or solicitation,
  • manipulations intended to improve the referencing of a third party site,
  • aiding or abetting, in any form and in any manner whatsoever, the commission of a criminal offence, and generally any of the acts and activities described above,
  • and more generally any practice that misuses Denario Services for purposes other than those for which they were designed.
  • It is strictly forbidden for the Customer to copy and/or divert for their own purposes or those of third parties any content protected by intellectual property rights, as well as all or part of the data on the website and/or the Denario Platform.
  • The following are also strictly prohibited (i) any behaviour likely to interrupt, suspend, slow down or prevent the continuity of the Denario Services, (ii) any intrusion or attempted intrusion into Denario’s systems, (iii) any misappropriation of the Site's system resources, (iv) any actions likely to impose a disproportionate burden on the latter's infrastructure, (v) any infringement of security and authentication measures, (vi) any act that may harm the financial, commercial or moral rights and interests of Denario or its website users, and more generally (vii) any breach of these general conditions.
  • It is strictly forbidden to monetize, sell, rent, share or grant access to all or part of the Denario Services, the Denario Platform or the Website, as well as to the information hosted and/or shared therein.

7.2 Sanctioning of breaches - termination

In the event of a breach of any of the provisions of these terms and conditions, or more generally, of any breach of the laws and regulations in force by a Customer, the Licensing Entity reserves the right to take any appropriate measure, and in particular to:

  • suspend access to Denario Services of the Customer who is the author of the breach or infringement, or who has participated in it,
  • take all appropriate measures and take legal action,
  • If necessary, warn the competent authorities, cooperate with them and provide them with all information useful for the research and repression of illegal or illicit activities,    
  • terminate the GTS.

In the event of a Customer's failure to comply with one of its obligations under the GTS, the Licensing Entity reserves the right to terminate its access to all or part of the Denario Services, thirty (30) days after the Customer has received a formal notice that has remained without effect, sent by registered letter with acknowledgement of receipt, mentioning the intention to apply this clause, without prejudice to any damages that could be claimed from the Customer. This termination will automatically lead to the deletion of the Customer’s account, without prejudice to any other consequences that may result from the application of the present general conditions.

Access to Denario Services may be terminated by the Licensing Entity at any time and without notice in the event of serious breach by the Customer, and in particular in the event of fraudulent or illicit use by the Customer of Denario Services and/or the Denario Platform.

8. Denario’s responsibility and guarantee

With the exception of the warranties expressly mentioned in the GTS, all Denario Services are provided "as is" and Denario makes no other warranties, whether expressed or implied, and in particular Denario makes no warranty of fitness for a particular purpose, that the Denario Services or the results obtained from their use will conform to the Customer's expectations, will operate without interruption, will achieve an expected result, will be compatible or will operate with the Customer's software, systems or other services.

  • Denario undertakes to provide the Denario Services diligently and according to the rules of the trade, it being specified that it has an obligation of means, to the exclusion of any obligation of result, which the Customer expressly acknowledges and accepts.
  • Denario undertakes to respect its obligations as Swan’s Commercial Agent and undertakes to take the necessary steps to maintain this status throughout the execution of the GTS.
  • Denario undertakes not to use the documents, elements, data and information provided by Customers for any purpose other than the provision of the Services and not to communicate them to third parties, except at the express request of the Customer.
  • Denario undertakes to do its best to ensure the security of the Customer interface within the Denario Platform. Denario guarantees the confidentiality of the interface and will not communicate its content to any third party.
  • Denario undertakes to inform the Customer of any foreseeable difficulty, particularly regarding the implementation of Denario Services or the proper functioning of the Denario Platform.

However, Denario cannot be held responsible in the event of malicious access to this space by a third party, unless it is proven that the security measures put in place by Denario were seriously deficient.

In addition, Denario cannot be held responsible for any lack of vigilance on the part of Customers in maintaining the confidentiality of user IDs and passwords associated with users' accounts on the Denario Platform.

  • Denario undertakes to carry out regular checks to verify the functioning and accessibility of the Denario Platform. In this respect, Denario reserves the right to temporarily interrupt access to the Denario Platform and Denario Services for maintenance purposes. Denario will not be held responsible for any difficulties or temporary impossibility to access the Denario Platform and Denario Services due to (i) external circumstances or circumstances not exclusively attributable to Denario, (ii) force majeure, (iii) the Customer's IT infrastructure, one of its actions or inactions, or (iv) due to disruptions in the telecommunication networks.
  • Denario undertakes to comply with the laws and regulations applicable to the Services.

Denario does not guarantee to Customers (i) that Denario’s services, which are subject to constant research to improve performance and progress, will be totally free of errors, defects or faults, (ii) that the services, being standard and not offered for the sole intention of a given Customer according to his or her own personal constraints, will specifically meet his or her needs and expectations.

Denario cannot be held liable for any indirect damage, including loss of data, loss of income, loss of profit, loss of opportunity or loss of Customers or damage to image due to Denario Services.

In any case, Denario’s liability under the GTS will be limited to the amount of money actually received by Denario from the Customer during the contractual year preceding the event giving rise to its liability. Furthermore, the Customer is required to take all reasonable measures to minimise any damage he/she may suffer.

Denario’s liability can only be incurred if the said Customer has made a claim, by registered letter with acknowledgement of receipt, within one (1) month of the occurrence of the breach in question.

Denario uses service providers, in particular Swan, to implement Denario Services. In case of failure of these service providers, Denario will do its best to maintain the Denario Services in accordance with the present contract. However, it cannot be held responsible for any failure to provide Denario Services due to the failure of its service providers or Denario Partners.

Denario will not be held responsible and will not be liable for any compensation in the event of force majeure preventing the use of its services and access to the Denario Platform, in particular and without limitation, in the event of events rendering transmission networks inoperable, interrupting site access networks making them unavailable, even partially, altering the reliability and/or security of data transmission or access times, or causing restrictions on access to the Internet network.

Passwords, access codes and transaction validation codes communicated to the Customer are strictly confidential and personal, so Denario cannot be held responsible for any illicit and/or fraudulent use of passwords made available to the Customer or created following a request from the Customer.

Denario cannot be held responsible for any damage suffered by the Customer when using Denario Services through the Customer's technical environment (terminals, computers, software, networks), any equipment used to access Denario Services, or any misuse of Denario Services by the Customer.

9. Confidentiality of Customer data

9.1 Data relating to the use of Denario Services

Denario undertakes to ensure that the data entered by the Customer into the Denario Platform when using Denario Services:

  • is kept strictly secret;
  • will only be disclosed internally to members of its staff who need to know it for the purposes of Denario Services, as well as to its consultants, external service providers or subcontractors who are bound by the same confidentiality obligations as those set out in this agreement, and will only be used by them for the purpose defined in this agreement;
  • not be used, in whole or in part, for any other purpose than that defined herein;
  • not be disclosed or likely to be disclosed, either directly or indirectly, to any third party or to any person other than those mentioned in the second paragraph above;
  • not be copied, reproduced or duplicated in whole or in part when such copies, reproductions or duplications are not for its own needs or have not been authorised by the Customer, expressly and in writing.

This obligation does not extend to documents and information :

  • of which Denario was already aware ;
  • already public at the time of their communication or which would become public without violation of this agreement;
  • which would have been received from a third party in a lawful manner;
  • the disclosure of which would be required by judicial authorities, in application of laws and regulations or in order to establish a party's rights under this agreement.

Denario is authorized to keep any document or data necessary to justify its performance of the Denario Services, in particular in the context of its obligations to Swan, for the duration provided by the law in force under these obligations and/or the applicable statute of limitations, whichever is longer.

9.2 Bank details

The Customer’s banking data represents all transaction data related to the Customer’s Payment Account.

For the Payment Account Management Services, the Customer accepts that, for the purposes of the operation of the said Services and in particular KYC obligations, Denario keeps this banking data for a period of thirteen (13) months, from the moment the transaction on the Payment Account is carried out.

9.3 Personal data

Denario and the Customers undertake, each insofar as they are concerned, to comply with the regulations applicable to personal data and in particular the General Data Protection Regulation (EU Regulation 2016/679 of the European Parliament and of the Council of 27 April 2016).

The conditions for collecting and processing personal data, for obtaining the consent of the persons concerned to such collection and processing, as well as for exercising their rights of information, access, rectification, opposition, limitation, portability and deletion of such data are explained in the document entitled "Privacy Policies", which is accessible on the Site.

10. Commercial references

Customers expressly authorize Denario to quote them and to use, if necessary, the reproduction of their brands or logos as commercial references, notably during events, in its commercial documents and on its website, in any form whatsoever, during their use of Denario’s Services and beyond, for a period of three (3) years.

11. Links and third party sites

Denario cannot be held responsible for the technical availability of websites or mobile applications operated by third parties (including its possible partners) that Customers access through the Denario Platform.

Denario is not responsible for the content, advertising, products and/or services available on such third-party websites and mobile applications, which are governed by their own terms of use.

Denario is not responsible for transactions between Customers and any advertiser, professional or merchant (including its partners) to whom Customers are directed through the Denario Platform or Denario’s partner, and will not be party to any dispute with these third parties concerning the delivery of products and/or services, guarantees, declarations and other obligations of any kind to which these third parties are bound.

12. Duration of Denario Services, cancelation

Invoice Management Services are provided for the duration of the Customer's registration to the Denario Portal.

For Denario Services subject to subscription, the Subscription starts on the day of subscription, for a period of thirty (30) days (hereafter: the "Initial Period"), from date to date.

The Subscription is then tacitly renewed for successive periods of the same duration as the Initial Period (hereinafter referred to, together with the Initial Period, as the "Periods"), from date to date, unless Denario or the Customer gives notice of termination no later than five (5) days before the end of the current Subscription Period.

Cancellation of the Subscription by a Customer is done by email to support@denario.io or according to the methods indicated on the Denario Platform, or on the website of the Denario Partner where the Customer subscribed to the Subscription, depending on the case.

Any Subscription Period started is due in full.

12.1 Effect of the end of Denario Services

The end of Denario Services, whatever the cause, will automatically and by right lead to the deactivation of the Customer's account.

Before deactivating their account, Customers must recover the documents, elements, data and information they have stored in the Denario Platform as part of their use of Denario Services.

13. Changes

Denario reserves the right to modify these terms of service at any time. Customers will be informed of these modifications by any useful means.

Customers who do not accept the modified terms and conditions must unsubscribe from the Services as per the terms and conditions set out in the GTS.

Any Customer who uses the Services after the entry into force of the modified general terms and conditions is deemed to have accepted these modifications.

In the event of a translation of these general terms and conditions into one or more languages, the language of interpretation shall be the German language in the event of a contradiction or dispute over the meaning of a term or provision.

14. Applicable law and jurisdiction

The GTS are governed by German law.

In the event of a dispute concerning the validity, interpretation and/or execution of the GTS, the parties agree that the courts of Berlin shall have exclusive jurisdiction to rule on the matter, except in the case of mandatory procedural rules to the contrary.