Terms of Service

These terms are a binding agreement between the User ("User", "you") and Payday ehf., Id. 520417-2570, located at Bæjarlind 14-16, 201 Kópavogi ("Payday" ) and pertain to your use of the Payday services, including websites, software and other products and services (collectively referred to as "the Service"). By using our services, you agree to these Terms and Data Processing Agreement.

Payday aims to keep track of everything related to its users' payroll and invoicing in one place. Users of the Service can keep track of billing, payment of government fees, and pension fund payments. Users are offered five ways to use Payday's services.

The service plans are as follows:

• Free - a service plan that allows users to create and send two invoices per. month. Users can also see an overview of all customer transactions and look up customers in the national directory.

• Light - a service plan that includes payroll calculation, automatic income tax return and social security contributions, automatic return of pension fund and pension fund returns, automatic return of membership fees to associates and benefits of trade union benefits in Payday.

• Salary - a service plan that includes payroll calculation, automatic income tax return and social security contributions, automatic return of pension fund and pension fund returns, automatic return of membership fees to associates and benefits of trade union benefits in Payday.

• Premium - a service plan that includes everything in the Light plan but additionally automatic VAT return, payroll calculation, automatic income tax return and social security contributions, automatic return of pension fund and pension fund returns, automatic return of membership fees to associates and benefits of trade union benefits in Payday.

• All inclusive - a service plan that includes everything in the Premium plan but in addition financial accounting that includes e.g. diary, journal, creditor, balance sheet and income statement.

In order for Payday users to use the Service, they are asked to provide an email address, telephone number, national ID number, bank account number and web keys from the tax authorities. This information is all part of Payday's ability to service its users, send in public returns automatically and so that the users of the service can do payroll.

To increase service to its customers and enable users to have a better view of their business, Payday compiles a summary of payroll, government fees and pension payments. Payday meets the requirements of regulation no. 505/2013 on electronic invoices etc. in terms of billing systems and electronic invoices.

• User: A person who logs on to the website payday.is and can subsequently use the services offered on the web.

• The service: Information, tools and functionality on the payday.is website that allows users to create, save and send invoices, do payroll, pay public fees and access graphical reports regarding their operations.

By using the Service, you agree to abide by the at all time applicable Terms, and as amended from time to time by Payday. The words "you" and "user" in all inflections depicted in these Terms refer to the user. Those who intend to use Payday's Services must read and accept these terms. Updated terms will be available at all times at the webpages of Payday. Usage includes, viewing, information gathering and / or utilization of the services offered on the payday.is website as the website is made available to users at any given time. All use of the website is limited to the features that may be considered natural and legal, along with the information and services offered at any given time.

Users are responsible for ensuring the secrecy of their passwords which enables them, together with their username, to log in to payday.is. By providing Payday with its email address, users agree that Payday may, when necessary, send users notifications to their email address in connection with their access to the Service.

Username, password and other contact information that users may provide Payday as "user access information". The right of users to access and use the Service is limited to them and they may not transfer that right to another person or legal entity. Users may only access and use the Service for legal purposes.

However, users may, at their own risk, provide the parties with whom they have entrusted the preparation of accounts or the registration of their accounting access information. If a user in any way becomes aware that an unauthorized person has accessed their access information, they agree to notify Payday immediately by sending an email to [email protected].

Users' access to Payday.is may be interrupted for a variety of reasons, such as hardware failure, technical malfunction, software malfunction, or system upgrading, is not responsible for any damage it may cause, cf. Article 11.

The types of invoices and their delivery vary by service.

• Free: Invoices are emailed as PDFs. Claims are not created in the online banking system.

• Light: Invoices are sent as PDF documents via email or XML through the Peppol network. There is an option that claims will be created in an online bank and whether to use your own billing services. Payments on invoices go directly to the user's bank account upon payment.

• Premium: Invoices are sent as PDF documents via email or XML through the Peppol network. There is an option that claims will be created in an online bank and whether to use your own billing services. Payments on invoices go directly to the user's bank account upon payment.

• All inclusive: Invoices are sent as PDF documents via email or XML through the Peppol network. There is an option that claims will be created in an online bank and whether to use your own billing services. Payments on invoices go directly to the user's bank account upon payment.

Payday sends the invoices but is not responsible for their content. In the event of a dispute between a user who issues an invoice and a payer, the parties must resolve such dispute between themselves without the involvement of Payday. The user is responsible for collecting payment.

The user manages himself when he chooses to do payroll and payroll can be made at any time of the month and as many times a month as the user wants.

The user can access paychecks in Payday at any time and they are in line with traditional paychecks stating, among other things, salary, employer contribution, income tax, pension fund payment and information on personal tax allowance. It is entirely the responsibility of users that information on payroll, union and pension funds is accurate.

Payday automatically sends pension and union fees to the relevant funds. The user must be responsible for paying the claims regarding the returns in their online banking system.

In addition, users must also inform Payday if they receive revenue elsewhere at the same time and they use the Payday service so that all information to the tax authorities is correct and in accordance with income tax laws. If a user has not provided correct tax information, Payday does not guarantee that the information that Payday sends to the tax authorities is accurate.

Payday can only settle VAT reports on the invoices that have been sent through the Payday service as well as the input tax on expenses that the user has entered into Payday.

A user can choose whether or not Payday sends in VAT reports. The user is responsible for the correctness of VAT reports.

Payday reserves the right to make improvements, add, change or remove functionality, or correct issues or omissions in the Service at its sole discretion without any obligation or liability accruing therefrom.

The Service is provided “as is” as standard software, without any expressed or implied representations or warranties of any kind. You may access and use the Service as it is provided at any given time, the Service is not contingent on a particular version nor publications or materials.

According to the Regulation on Electronic Invoices and Accounting Laws, data for that purpose shall be stored for seven years from their publication and it is the responsibility of the user. At the end of the contract, users can request their data in computerized form for payment according to the Payday price list at each time.

Payday's fee is in accordance with the at all time applicable price list and Payday guarantees that the correct price is always available on the payday.is website. No hidden fees are included in the Payday subscription. At the first of each month, Payday sends out invoices for usage in the past month, for example, invoices are sent out on June 1st for usage in May. Payday's claims are due seven days after their issue. The user does not pay for the service unless he uses it in some way.

In the event of the non-payment or late payment, Payday reserves the right to suspend the access to the Service or restrict the access to read-only, and charge penalty interest as permitted by law.

Payday sends users notifications when an invoice has been sent, when invoices have been paid, when an invoice's final due date has passed, when an invoice has been cancelled (for example, due to a mistake in invoicing), when payroll has been processed, and when a VAT report is ready to be sent. In addition, there may be instances where Payday sends its users the necessary notifications electronically. The notifications are related to user registrations and access, such as when access information is changed or other optional notifications associated with the use of the service. Occasionally, Payday may add new types of notifications or remove certain types of notifications. Payday electronic notifications will be sent to the email address provided by the user in connection with the user's access to Payday.

Since notifications are not encrypted, they will never contain a user's password. In the event that a user forgets their password, they may receive a link to a given email address on the URL that allows the person to create a new password.

Notifications can include a user's email address (when sending an email). Anyone who has access to a user's email will be able to see the content of the notifications.

User is aware that all notices sent using the Service may be delayed or not received by the user for a variety of reasons. Payday strives to ensure that notifications are received promptly and safely but in no way guarantees that notifications are received or that notifications always contain the latest and / or correct information. The User agrees that Payday shall not be liable for late or non-received notifications, due to errors in the content of notifications, or for decisions taken by a user or third party or not due to notices sent from Payday.is

This Agreement does not change the copyright, usage rights or proprietary rights that the Parties had prior to the fulfilment of the Agreement, or which have been established independently thereof.

Subject to the User’s compliance with the Agreement, Payday grants the User, a limited licence to access and use the Services, solely for internal business operations. You shall not, and shall procure that user shall not, except as expressly permitted in this agreement (i) modify, translate, create or attempt to create derivative copies of or copy the Services and solutions in whole or in part; (ii) reverse engineer, decompile, disassemble or otherwise reduce the object code of the Services to source code form; (iii) distribute, sub-licence, assign, share, timeshare, sell, rent, lease, transmit, grant a security interest in or otherwise transfer the Services or your right to use the Services.

Payday, or its licensors where applicable, is the owner of, and retains ownership to, the Service and all related intellectual property rights in and to the Service and any other services provided under this Agreement, including any intellectual property rights arising out of Payday’s processing of data. With the sole exception of the limited licence(s) explicitly granted under this Agreement, nothing in this Agreement constitutes a transfer of, or licence to, any intellectual property rights from Payday or its licensors to you.

All content of the site payday.is, including layout design (e.g. text, graphics, images, trademarks), photographs, software, edited content, notices and other content is protected by copyright and trademark law in Iceland and elsewhere. The content of payday.is is the property of Payday or used under licence from software, data or other content providers with Payday in a business relationship. Payday grants the User licence and permission to view and use payday.is under these Terms. Users may only download or print copies of information and content on payday.is for their own personal use that is not for financial purposes in accordance with II. section of the Copyright Act. Any distribution, republication or electronic copying of the contents of payday.is, whether in whole or in part, or for any other purpose is entirely unauthorized to you except with the written consent of Payday.

Any violation of this Article is subject to Art. the provisions of Article 11.

When a user accepts these terms, he agrees that he will not use any automated software, programs or other means to gain access to, copy or monitor any part of the payday.is website except with the written permission of Payday and / or if such service has been purchased by Payday.

User also agrees that he will not use any programs, software or other means to access, use or search for data on the payday.is website except with mainstream browsers (such as Firefox or Google Chrome) and mainstream search engines (such as Google or Bing).

User agrees that he will not post files or data on the Payday Web Site which may be classified as a computer virus, computer worm or trojan horse or files that contain any malicious features and / or may in any way interfere with the normal functioning of payday.is and / or the services of Payday or which in infrights any third party intellectual property or other rights.

User agrees that he will in no way attempt to download, publish or analyze the underlying application code based on the software used on payday.is. If a user is granted access to the underlying Payday programming code, such as due to a failure, he/she must notify the webmaster ([email protected])

Any violation of this Article is subject to Art. the provisions of Article 11.

Payday reserves the right to restrict any access to the Services if the User is not complying to the provisions of this Agreement.

Payday’s liability is limited to direct damages. Payday shall not be liable for any indirect, incidental, consequential, punitive or special losses or damages, including but not limited to any loss of profit, loss of revenue, loss of business, loss of data, lost savings,claims from third parties, loss of goodwill etc.

For the avoidance of doubt, Payday is not responsible for any inconvenience or damage caused directly or indirectly by a failure of the computer equipment and / or software of the company or the user or for any other reason which may cause information to be inaccurate or the user unable to connect to the service. Payday is not responsible for any inconvenience or damage that may be caused directly or indirectly by defects or malfunctions of terminal equipment, connection to the World Wide Web, the software necessary for connection to the Payday Web site, browser or operating system or Payday computer system, or for any other reason which may cause the actions on payday.is to not take place or be otherwise than expected, such as due to technical malfunctions, errors in data or interruptions in the operation of computer systems. Payday shall not be liable for damages arising from the ignorance, misunderstanding or abuse of the user or another party with or without the user's authority. Payday is not responsible for any damage that may be attributed to the wrong actions of the user or another party. Payday is not responsible for damages that can be attributed to external events such as malfunctions, incorrect external information, etc. Furthermore, Payday shall not be liable for any damage that can be traced to events caused by natural disasters, wars, strikes or due to factors that are considered to be subject to unforeseen circumstances (force majeure). Cyberattacks that Payday has not been able to prevent reasonable measures are regarded as force majeure events.

Total accumulated liability for Payday during the term of this Agreement shall not exceed an amount equalling 6 months’ fees for the affected Service immediately preceding the event giving rise to liability.

The Agreement enters into force on the date on which the Terms are accepted by the User or if the User has started using the Services.

Payday reserves the right to take any action that is deemed necessary to respond to violations of these Terms, including the immediate termination including also user access.

Immediately upon the termination, for whatever reason, the limited licence(s) granted to the User are revoked automatically, and User undertakes to cease using the Service.

Payday reserves the right to terminate unilaterally user access and this Agreement (where applicable to delete access) to payday.is at any time, without notice. When Payday determines that such action needs to be taken, the user will be notified of the decision and sent a notification to that effect to the email address provided by the user at registration. An example of such a case is, for example, if a user is found to be abusing the Payday system, if a user has violated any of these terms, or if a user has acted in such a way that it is obvious that a user does not intend or cannot comply these terms. If there is a suspicion of a criminal offence, Payday reserves the right to report such to the authorities.

Payday sends out invoices to its customers for each month for use for the preceding month, cf. Article 7 these terms. The claim falls due within seven days of its issue and if the claim is not paid within 15 days of the due date, user access is suspended until payment is received.

As a consequence of the performance of the agreement, the parties may be furnished with company internal information and information related to the intellectual property rights , including services, specifications, marketing information and similar sensitive information ("confidential information").

The parties hereby agree that they will use such confidential information solely for the purposes of performing the agreement and that they will not disclose, whether directly or indirectly, to any third party such information other than as required for performing the agreement.

After termination of the agreement the parties may not disclose any such confidential information.

You further agree that upon termination of the agreement you will not, except to the extent explicitly permitted by applicable law, develop or have any similar software developed through use of any confidential information supplied to you by the supplier, or in any other way obtained by you pursuant to the agreement.

The foregoing provisions will not prevent the disclosure or use by the parties of any information that is or becomes, through no fault of the party, public knowledge or to the extent required by mandatory law.

The User hereby grants Payday a non-exclusive and transferable right to access and use the data provided by using the Services for the following purposes:

Software and user experience improvement, typically by aggregating and analysing usage patterns and indicated needs brought by the Users, enabling individual or customised user experiences by, for instance, offering to enable relevant additional modules or services tied to the Software based on user patterns, suggest more efficient ways of making use of the Services by analysing the usage, or otherwise enhance the Services and features thereto.

Marketing and displaying relevant information, for example for complimentary or value-adding Services or new features, seek to avoid providing marketing for Services the User has already subscribed to and providing relevant market updates or information within the Service to educate Users.

Security and related purposes, for example by analysing session and login data, incident records and similar in order to prevent, investigate and document security issues and incidents and improve the security of the Service.

Statistics and research, typically by analysing the amount and trend of invoices, payments or expenses etc. going through our systems, including the Services, using such aggregated and anonymous statistics in general marketing and reporting, and as part of developing value-adding services such as additional modules, features or services tied to the services.

Compliance. Payday may use data for compliance purposes, for example by logging, fulfilling KYC or credit check purposes according to legislation or as part of operating the security program.

Contractual obligations. Payday may use the data for the purpose of fulfilling its contractual obligations towards the user.

Our ChatBot service utilizes Artificial Intelligence (AI) technology to assist in responding to inquiries and providing information. While we strive to ensure that the information provided by the ChatBot is accurate, the AI's responses are based on algorithms and may not always reflect the most current or precise data. By using our ChatBot, you acknowledge and agree to the following:

• AI Limitations: The ChatBot is powered by AI and operates based on the information it has been trained on. It may occasionally provide incorrect, incomplete, or outdated information. Users should not rely solely on the ChatBot for critical or decision-making purposes and are encouraged to verify the information independently.

• No Legal or Professional Advice: The ChatBot does not provide legal, financial, or other professional advice. Any content or responses from the ChatBot should not be interpreted as professional advice. You should consult a qualified professional for such matters.

• User Responsibility: You are responsible for any actions you take based on the information provided by the ChatBot. We are not liable for any losses or damages resulting from the use of or reliance on the ChatBot's responses.

• Data Usage and Privacy: Our AI may analyze interactions to improve its performance, but we are committed to protecting your privacy. Any data collected during your interaction with the ChatBot is handled in accordance with ou Privacy Policy and applicable data protection laws.

• Service Availability: The ChatBot service is offered "as-is" and may be subject to temporary interruptions, errors, or changes. We do not guarantee uninterrupted access to the ChatBot, and we reserve the right to modify or discontinue the service at any time.

By using our ChatBot, you agree to these terms and understand that the ChatBot’s responses are not guaranteed to be accurate or tailored to your specific needs.

Payday has established a policy on the use of artificial intelligence that ensures its ethical and responsible use.

Payday reserves the right to change and add to these Terms of Business at any time and make such changes effective without notice. In the case of changes that are not of benefit to the users of the service, users must be notified of them safely, at least seven days before the change takes effect. It is the responsibility of the User to regularly review the terms for any updates.

The terms and conditions applicable to this agreement, as amended from time to time, shall be posted and maintained on the Paydays's official webpages. The User acknowledges and agrees that the most recent and applicable terms are those published on the Paydays's web pages at the time.

Icelandic law applies to these terms. If any provision of these Terms is found to be void, unlawful or unenforceable, it will not in any way affect the validity, legality or enforceability of any other provision of the Terms. Users agree that even if Payday does not exercise any of its rights under these Terms, it shall not be construed as waiving its right. If a case arises out of these terms, it shall be brought before the Reykjavík District Court.