ZapLease is an AI-powered lease accounting software designed for Indian enterprises. It automates Ind AS 116 and IFRS 16 compliance by extracting lease data from documents, managing the full lease lifecycle, handling modifications, and generating audit-ready financial reports.

How accurate is the AI document extraction?

ZapLease AI extraction achieves 95%+ accuracy when processing lease contracts in PDF, DOCX, or scanned image formats. Key terms like lease start dates, payment schedules, escalation clauses, and incremental borrowing rates are extracted automatically.

Does ZapLease support Ind AS 116 compliance?

Yes, ZapLease is fully compliant with Ind AS 116 (Indian Accounting Standard for Leases). It automatically calculates Right-of-Use assets, lease liabilities, generates journal entries, notes to accounts, and all required disclosure reports.

How many lease modification scenarios does ZapLease handle?

ZapLease handles all 4 lease modification scenarios (S1-S4) as defined by Ind AS 116 and IFRS 16, with correct P&L treatment and automatic recalculation of lease liabilities and ROU assets.

Can ZapLease manage leases across multiple companies?

Yes, ZapLease supports multi-company management with parent/subsidiary structures and consolidated reporting across 9 currencies, making it ideal for enterprise groups with complex lease portfolios.

Terms of Service | ZapLease - AI Lease Accounting

Welcome to ZapLease. These Terms of Service (“Terms”) govern your use of the ZapLease platform and services operated by Subraps (“Company,” “we,” “our,” or “us”). By accessing or using our services, you agree to be bound by these Terms.

1. Acceptance of Terms

By creating an account, accessing, or using ZapLease, you acknowledge that you have read, understood, and agree to be bound by these Terms and our Privacy Policy. If you are using ZapLease on behalf of an organization, you represent that you have the authority to bind that organization to these Terms.

If you do not agree to these Terms, you must not access or use our services.

2. Description of Services

ZapLease provides AI-powered lease accounting software designed for enterprise use. Our services include:

AI-powered extraction of lease terms from uploaded documents
Automated lease accounting calculations compliant with Ind AS 116, IFRS 16, and ASC 842
Lease portfolio management and lifecycle tracking
Generation of financial reports, journal entries, and disclosure documents
Multi-company and multi-user management capabilities

We reserve the right to modify, suspend, or discontinue any aspect of our services at any time with reasonable notice to active subscribers.

3. User Accounts

To use ZapLease, you must create an account. You are responsible for:

Providing accurate and complete registration information
Maintaining the confidentiality of your account credentials
All activities that occur under your account
Notifying us immediately of any unauthorized use of your account

We reserve the right to suspend or terminate accounts that violate these Terms or engage in unauthorized or illegal activities.

4. Intellectual Property

All intellectual property rights in the ZapLease platform, including but not limited to software, design, text, graphics, logos, and documentation, are owned by Subraps or its licensors.

Our IP: You may not copy, modify, distribute, sell, or lease any part of our platform without explicit written permission.
Your Data: You retain all ownership rights to the lease data, documents, and content you upload to ZapLease. You grant us a limited license to process this data solely for the purpose of providing our services to you.

5. Data Privacy and Security

Your privacy is important to us. Our collection and use of personal information is governed by our Privacy Policy, which is incorporated into these Terms by reference. Key commitments include:

Enterprise-grade encryption for all data at rest and in transit
Role-based access controls and audit trails
Data processing only as necessary to provide our services
No sale of your data to third parties

6. Acceptable Use

You agree not to use ZapLease to:

Violate any applicable laws or regulations
Upload malicious software, viruses, or harmful code
Attempt to gain unauthorized access to our systems or other users' accounts
Reverse engineer, decompile, or disassemble any part of the platform
Use the platform for any purpose other than legitimate lease accounting and management
Transmit any content that is unlawful, harmful, threatening, or otherwise objectionable

7. Limitation of Liability

To the maximum extent permitted by applicable law:

ZapLease is provided “as is” and “as available” without warranties of any kind, either express or implied.
We do not guarantee that the platform will be uninterrupted, error-free, or completely secure.
While our calculations follow Ind AS 116, IFRS 16, and ASC 842 standards, we are not a substitute for professional accounting or legal advice. Users are responsible for verifying calculations and ensuring compliance with applicable standards.
In no event shall our total liability exceed the amount paid by you for the services during the twelve (12) months preceding the event giving rise to the liability.
We shall not be liable for any indirect, incidental, special, consequential, or punitive damages.

8. Refund Policy

Our refund policy varies by license type:

Annual Subscription: You may cancel your subscription at any time. Refunds for unused months may be issued on a pro-rata basis at our discretion, subject to a minimum usage period of 3 months.
Perpetual License: Perpetual licenses are non-refundable after the initial 30-day evaluation period. If you are unsatisfied within the first 30 days, contact us for a full refund.
Implementation Services: Fees for implementation, training, and customization services are non-refundable once the services have been delivered.

9. Indemnification

You agree to indemnify, defend, and hold harmless Subraps, its officers, directors, employees, and agents from and against any claims, damages, losses, liabilities, costs, and expenses arising from your use of ZapLease or violation of these Terms.

10. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of India. Any disputes arising from or relating to these Terms or the use of ZapLease shall be subject to the exclusive jurisdiction of the courts in Chennai, Tamil Nadu, India.

Before initiating any legal proceedings, both parties agree to attempt to resolve disputes through good-faith negotiation for a period of at least 30 days.

11. Modifications to Terms

We reserve the right to modify these Terms at any time. Material changes will be communicated via email to registered users and posted on our website at least 30 days before they take effect. Continued use of ZapLease after changes become effective constitutes acceptance of the revised Terms.

12. Termination

Either party may terminate the service agreement:

By You: You may close your account at any time through your account settings or by contacting us.
By Us: We may suspend or terminate your account for violation of these Terms, non-payment, or extended inactivity, with reasonable notice where possible.

Upon termination, you may request an export of your data within 30 days. After this period, your data will be deleted in accordance with our Privacy Policy.

13. Contact Us

If you have questions about these Terms of Service, please contact us:

Email: enquiry@subraps.com
Phone: +91-9884462634