These Terms of Service ("Terms") constitute a legally binding agreement between you ("User," "you," or "your") and Socotra Enterprises Inc., a corporation doing business as SocotraLedger ("we," "us," "our," or "the Platform"), governing your access to and use of the SocotraLedger software platform available at socotraledger.com and any related services.
By creating an account, accessing, or using the Platform in any way, you acknowledge that you have read, understood, and agree to be bound by these Terms in their entirety. If you do not agree to these Terms, you must not access or use the Platform.
These Terms apply to all users of the Platform, including building owners, property managers, viewers, and any other role granted access by a Platform administrator.
SocotraLedger is a cloud-based property finance management platform designed to help independent landlords and small property management firms organize and track income, expenses, tenants, maintenance, and portfolio performance across one or more buildings.
The Platform provides tools including but not limited to: income and expense tracking, budget management, tenant and lease tracking, rent payment monitoring, maintenance work order management, financial reporting, document storage, and document template generation.
Access to the Platform is available via self-service signup at socotraledger.com. We reserve the right to suspend or refuse access to any account at our sole discretion.
IMPORTANT: READ THIS SECTION CAREFULLY.
SocotraLedger is an organizational bookkeeping utility tool only. Socotra Enterprises Inc. is not a Certified Public Accountant (CPA), licensed financial advisor, licensed tax professional, licensed attorney, or any other type of regulated financial or legal services provider.
Nothing on the Platform — including any reports, calculations, charts, summaries, budget comparisons, P&L statements, rent rolls, or document templates — constitutes financial advice, tax advice, accounting advice, legal advice, or any other professional advice of any kind.
All financial figures, calculations, totals, and metrics displayed on the Platform are derived solely from data entered by users. The Platform performs mathematical operations on user-entered data; it does not audit, verify, validate, or certify the accuracy of any data or output.
You are solely and exclusively responsible for:
Document templates provided by the Platform (including rent increase notices, late rent notices, lease renewal notices, and similar documents) are provided as general-purpose organizational tools only. They do not constitute legal documents, legal advice, or representations about compliance with any applicable law in any jurisdiction. You are solely responsible for ensuring any document you generate, customize, or send complies with all applicable local, state, and federal laws.
To use the Platform, you must create an account using a valid email address. You are responsible for maintaining the confidentiality of your account credentials and for all activity that occurs under your account.
You agree to notify us immediately at [email protected] if you become aware of any unauthorized access to or use of your account. We are not liable for any loss or damage arising from your failure to maintain account security.
You must be at least 18 years of age to use the Platform. By accepting these Terms, you represent and warrant that you meet this age requirement.
We reserve the right to suspend or terminate your account at any time, with or without notice, if we determine in our sole discretion that you have violated these Terms or that your continued use poses a risk to the Platform or other users.
Access to the Platform is provided on a recurring monthly subscription basis. Subscription fees, billing cycles, and feature tiers are established at the time of account provisioning and may be updated with notice to you.
Free Trial.
New accounts may be eligible for a free trial period of 14 days from the date of account activation. You will not be charged during the trial period. If you cancel your account before the trial period ends, you will not be charged. If you do not cancel before the trial ends, your subscription will automatically convert to a paid monthly subscription and your payment method will be charged at the applicable plan rate.
Trial eligibility is determined at our sole discretion. We reserve the right to modify or discontinue trial offers at any time without notice.
No Refunds.
All subscription payments are completely non-refundable. Socotra Enterprises Inc. does not provide credits, refunds, or prorated adjustments for partial months of service, unused features, unused building accounts, or early cancellation. This policy applies regardless of the reason for cancellation, including but not limited to dissatisfaction with the service, a change in your portfolio needs, or technical issues beyond our reasonable control.
Cancellation.
You may cancel your subscription at any time through your account settings dashboard. Upon cancellation, your access to the Platform will continue through the end of your current paid monthly billing cycle. After that date, your account will be deactivated and you will lose access to all Platform features.
Following account deactivation, your data will be retained for a period of 12 months in accordance with our data retention policy, after which it may be permanently deleted. You are responsible for exporting any data you wish to retain prior to deactivation.
We reserve the right to modify subscription pricing with at least 30 days' advance notice provided by email to your registered address.
You agree to use the Platform only for lawful purposes and in accordance with these Terms. You agree not to:
Your use of the Platform is also governed by our Privacy Policy and Cookies Policy, which are incorporated into these Terms by reference.
You retain ownership of all data you enter into the Platform ("Your Data"). By using the Platform, you grant Socotra Enterprises Inc. a limited, non-exclusive license to store, process, and display Your Data solely for the purpose of providing the Platform services to you.
We implement industry-standard technical and organizational security measures to protect Your Data. However, no method of electronic transmission or storage is 100% secure. We cannot guarantee absolute security and are not responsible for unauthorized access resulting from factors outside our reasonable control.
You are responsible for ensuring that any data you enter about third parties (including tenants) is accurate and that you have the legal right to enter and process such data in the Platform.
The Platform, including all software, design, text, graphics, logos, and other content created by Socotra Enterprises Inc., is the exclusive property of Socotra Enterprises Inc. and is protected by applicable intellectual property laws. These Terms do not transfer any ownership rights to you.
You are granted a limited, non-exclusive, non-transferable, revocable license to access and use the Platform solely for your internal property management purposes in accordance with these Terms.
READ THIS SECTION CAREFULLY. IT LIMITS OUR LIABILITY TO YOU.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, SOCOTRA ENTERPRISES INC., ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, LICENSORS, AND SERVICE PROVIDERS SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO:
IN NO EVENT SHALL OUR TOTAL AGGREGATE LIABILITY TO YOU FOR ALL CLAIMS ARISING OUT OF OR RELATED TO THESE TERMS OR YOUR USE OF THE PLATFORM EXCEED THE GREATER OF (A) THE TOTAL FEES PAID BY YOU TO SOCOTRA ENTERPRISES INC. IN THE THREE (3) MONTHS IMMEDIATELY PRECEDING THE CLAIM, OR (B) ONE HUNDRED DOLLARS (USD $100.00).
THE PLATFORM IS PROVIDED ON AN "AS-IS" AND "AS-AVAILABLE" BASIS WITHOUT ANY WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR UNINTERRUPTED OR ERROR-FREE OPERATION.
Some jurisdictions do not allow the exclusion or limitation of certain warranties or liabilities. In such jurisdictions, our liability is limited to the maximum extent permitted by law.
You agree to defend, indemnify, and hold harmless Socotra Enterprises Inc., its officers, directors, employees, agents, and service providers from and against any claims, liabilities, damages, judgments, awards, losses, costs, expenses, and fees (including reasonable attorneys' fees) arising out of or relating to:
The Platform integrates with third-party services including cloud infrastructure providers, database services, and payment processors. Your use of the Platform may be subject to the terms and privacy policies of these third-party providers. We are not responsible for the practices or content of any third-party service.
We reserve the right to modify, suspend, or discontinue any aspect of the Platform at any time with or without notice. We are not liable to you or any third party for any modification, suspension, or discontinuation of the Platform.
We may update these Terms from time to time. When we make material changes, we will notify you by email. Your continued use of the Platform after any changes constitutes your acceptance of the updated Terms.
These Terms shall be governed by and construed in accordance with the laws of the State of New York, without regard to its conflict of law provisions. Any dispute arising out of or relating to these Terms or your use of the Platform shall be resolved exclusively in the state or federal courts located in New York, and you consent to the personal jurisdiction of such courts.
We may terminate or suspend your access to the Platform immediately, without prior notice or liability, for any reason, including if you breach these Terms. Upon termination, your right to use the Platform will immediately cease.
All provisions of these Terms that by their nature should survive termination shall survive, including ownership provisions, warranty disclaimers, indemnity, and limitations of liability.
Entire Agreement. These Terms, together with the Privacy Policy and Cookies Policy, constitute the entire agreement between you and Socotra Enterprises Inc. regarding your use of the Platform and supersede all prior agreements.
Severability. If any provision of these Terms is found to be unenforceable, the remaining provisions will continue in full force and effect.
Waiver. Our failure to enforce any right or provision of these Terms will not be considered a waiver of those rights.
Assignment. You may not assign or transfer your rights under these Terms without our prior written consent. We may assign our rights without restriction.
If you have questions about these Terms, please contact us:
Socotra Enterprises Inc. (doing business as SocotraLedger)
Email: [email protected]
Website: socotraledger.com