This document is a preliminary plain-language draft establishing operational guidelines for the beta preview of Wasal AI. It requires formal review, adaptation, and approval by qualified commercial legal counsel licensed in Saudi Arabia and the UAE prior to executing binding commercial agreements.
1. Scope of Service & Non-Custodial Architecture
Wasal AI provides financial middleware designed to automate bank statement reconciliation, unbundle merchant processing fees (MDR), calculate deductible input VAT, and draft balanced adjusting journal entries for mid-market ERPs (such as Odoo, Zoho Books, and Microsoft Dynamics 365).
2. Customer Accounting & Tax Filing Responsibilities
The customer and its designated financial controller maintain sole responsibility for reviewing, posting, and verifying adjusting journal vouchers in their General Ledger, and for submitting statutory VAT returns to ZATCA (KSA) or FTA (UAE). Wasal AI provides automated reconciliation and calculation software designed to support compliance, but does not provide certified legal, auditing, or tax advisory services.
3. Data Confidentiality & Security Safeguards
All client transactional data, settlement sheets, and chart of accounts configurations are treated as confidential. Wasal AI protects data using TLS 1.3 encryption in transit and standard encryption at rest [TODO: verify AES-256 storage], with role-based access controls.
4. Governing Law & Jurisdiction
These Terms of Service are governed by and construed in accordance with the laws of the Kingdom of Saudi Arabia for KSA-domiciled organizations, and the applicable laws of the United Arab Emirates for UAE-domiciled organizations, with commercial courts holding competent jurisdiction.
5. Legal Inquiries & Contact
Support & Inquiries: [TODO: email — contact@wasal.ai]
Legal & Compliance: [TODO: email — legal@wasal.ai]
Entity: [TODO: Company Legal Entity Name, CR, Registered Office in KSA / UAE]