Terms of Service

1. The Service

Nivora is software for underwriting real estate investments: document import, pro forma modeling, return analysis, and exports. Access is invite-only; an account must be approved and linked to an organization by an administrator before it can be used.

2. Accounts and security

You are responsible for the accuracy of your account information and for keeping your credentials confidential. Two-factor authentication is required. Notify us promptly if you suspect unauthorized use of your account. We may suspend accounts that present a security risk or violate these terms.

3. Your data

Your organization retains all rights to the documents and data it uploads and to the underwriting it builds in the Service (“Customer Data”). You grant us a limited license to host and process Customer Data solely to provide the Service. We do not use Customer Data to train AI models, and we do not share it outside the service providers listed in our Privacy Policy.

4. Not investment, legal, or tax advice

The Service performs calculations on assumptions you provide. Outputs — including IRR, equity multiples, DSCR, waterfall distributions, and any AI-generated narratives or extractions — are analytical tools, not investment advice, an offer to sell securities, an appraisal, or a recommendation of any transaction. You are solely responsible for verifying inputs, reviewing outputs, and making your own investment decisions. AI-assisted extraction can make mistakes; review extracted values before relying on them.

5. Acceptable use

• Don’t attempt to access other organizations’ data or circumvent access controls.
• Don’t upload content you don’t have the right to use, or content containing malware.
• Don’t resell, sublicense, or provide the Service to third parties without our written agreement.
• Don’t reverse engineer the Service or use automated scraping against it.

6. Confidentiality

We treat Customer Data as confidential and protect it with the measures described in the Privacy Policy. Share links your organization creates are your responsibility to distribute appropriately; anyone with a live share link can view the shared analysis.

7. Availability and changes

We work to keep the Service available and fast, but it is provided without an uptime guarantee. Features may change as the platform evolves; we will not materially reduce the core underwriting functionality your organization relies on without notice.

8. Intellectual property

The Service — including its software, design, and underwriting engine — is owned by Nivora Capital and protected by intellectual-property law. These terms grant you a limited, non-exclusive, non-transferable right to use the Service while your organization’s access is active.

Third-party product names that appear in the Service or on this site (for example AppFolio, Yardi, RealPage, Entrata, and Microsoft Excel) are trademarks of their respective owners. They are referenced solely to identify the file formats the Service can read; no affiliation, sponsorship, or endorsement is implied.

9. Termination

Your organization or we may end access at any time. On termination we will, on request, make Customer Data available for export for a reasonable period, then delete it in the ordinary course, subject to legal retention requirements.

10. Disclaimers and limitation of liability

The Service is provided “as is” without warranties of any kind, express or implied, including fitness for a particular purpose and non-infringement. To the maximum extent permitted by law, Nivora Capital is not liable for indirect, incidental, special, consequential, or punitive damages, or for lost profits or investment losses, arising from use of the Service. Our total liability for any claim is limited to the amounts paid by your organization for the Service in the twelve months before the claim arose.

11. Changes to these terms

If we make material changes, we will update the effective date above and notify organization administrators. Continued use of the Service after a change takes effect constitutes acceptance of the revised terms.

12. Contact

Questions about these terms or the Service can be directed to your Nivora representative or your organization administrator.