Terms & Conditions

These Terms & Conditions (“Terms”) are an agreement between you and Whitestone Developments (“Pencl”, “we”, “us” or “our”). They govern your access to and use of penclit.com, the Pencl application and related services (together, the “Service”). By creating an account, starting a free trial or otherwise using the Service, you agree to these Terms and to our Privacy Policy. If you do not agree, do not use the Service.

1. Eligibility and accounts

You must be at least 18 years old and able to form a binding contract to use the Service. If you use the Service for a company or other organisation, you confirm that you are authorised to accept these Terms on its behalf, and “you” includes that organisation.

You are responsible for keeping your account information accurate, keeping your login credentials confidential, and for all activity under your account. Tell us straight away if you suspect unauthorised use.

2. Plans, free trials and billing

Plans. Pencl is offered as a free trial and as paid plans (currently Starter, Pro and Enterprise). The features and limits of each plan are described on our pricing page and at checkout.
Billing. Paid plans are billed in advance, monthly or annually, and renew automatically at the end of each billing period until you cancel. Prices exclude applicable taxes unless stated otherwise.
Free trials. A free trial either converts to a paid plan or ends, as described when you sign up.
Founding-member pricing. If you join under a founding-member offer, your rate stays the same for the period stated in the offer, as long as your subscription stays active.
Price changes. We may change plans and prices. We will give you reasonable advance notice of any change that affects a plan you pay for, and it will apply from your next billing period.
Cancellation and refunds. You can cancel at any time in your account settings. Cancellation takes effect at the end of the current billing period. Fees already paid are non-refundable, except where the law requires otherwise.

3. Your data

You own the project data, financial assumptions, files and other content you put into the Service (“Your Data”). You give us a limited licence to host, copy, process and display Your Data only to provide, secure and improve the Service for you. You are responsible for having the rights to everything you upload, such as site photos or comparable sales data. Our Privacy Policy explains how we handle personal information.

4. AI-generated content: important disclaimer

Pencl uses artificial intelligence, including Anthropic’s Claude models, to produce feasibility scores, investment memos and other analysis from the data you enter. This output is for information only. It is not financial, investment, legal, tax, engineering or other professional advice, and it does not replace due diligence, surveys, title work, environmental assessments, engineering studies or advice from a licensed professional.

AI-generated output may contain errors, omissions or assumptions that do not fit your deal. You are solely responsible for checking any figures, conclusions or recommendations before relying on them, including before making any investment, financing or development decision.

5. Acceptable use

You agree not to:

use the Service in a way that breaks any law or infringes anyone’s rights;
copy, resell, sublicense or share access to the Service beyond your plan’s seats;
reverse-engineer, scrape or try to extract the source code or models behind the Service, except where the law allows;
interfere with the Service’s security or operation, or try to access accounts or data that are not yours;
upload malware or content you do not have the right to share.

6. Third-party services

The Service relies on, and may link to, services provided by others, such as payment processing and AI providers. Their own terms apply to their services, and we are not responsible for them.

7. Intellectual property and feedback

The Service, including its software, design, content and the Pencl name and logo, is owned by Whitestone Developments and protected by intellectual property laws. Pencl™ and Put a pencil to it™ are trademarks of Whitestone Developments. These Terms give you only the limited right to use the Service under your plan.

If you send us ideas or feedback, we may use them freely without any obligation to you.

8. Disclaimers

THE SERVICE, INCLUDING ANY AI-GENERATED CONTENT, IS PROVIDED “AS IS” AND “AS AVAILABLE”, WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY AND NON-INFRINGEMENT. WE DO NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED OR ERROR-FREE, OR THAT ANY SCORE, MEMO OR OTHER OUTPUT WILL BE ACCURATE OR SUITABLE FOR YOUR DEAL.

9. Limitation of liability

TO THE FULLEST EXTENT PERMITTED BY LAW, WHITESTONE DEVELOPMENTS WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUE, DATA OR BUSINESS OPPORTUNITY, ARISING FROM YOUR USE OF THE SERVICE OR RELIANCE ON ANY OUTPUT, INCLUDING AI-GENERATED CONTENT. OUR TOTAL LIABILITY FOR ALL CLAIMS RELATING TO THE SERVICE WILL NOT EXCEED THE AMOUNT YOU PAID US IN THE 12 MONTHS BEFORE THE EVENT GIVING RISE TO THE CLAIM.

Some jurisdictions do not allow certain of these exclusions, so some of them may not apply to you.

10. Indemnity

You agree to defend and indemnify Whitestone Developments against any claims, losses and costs (including reasonable legal fees) arising from Your Data, your misuse of the Service or your breach of these Terms.

11. Suspension and termination

You may stop using the Service and close your account at any time. We may suspend or end your access if you materially breach these Terms, fail to pay, or use the Service in a way that could harm us or others. Where reasonable, we will give you notice and a chance to export Your Data first. Sections that by their nature should survive termination, including Sections 3, 4 and 7 to 10, will survive.

12. Changes to these Terms

We may update these Terms from time to time. The “Last updated” date at the top of this page shows when they last changed. If we make material changes, we will tell you by email or in the app before they take effect. If you keep using the Service after that, you accept the updated Terms.

13. Governing law and disputes

These Terms are governed by the laws of the jurisdiction in which Whitestone Developments is established, without regard to its conflict-of-laws rules. Before starting any formal proceedings, you and we agree to try to resolve any dispute informally by contacting the other party and negotiating in good faith for at least 30 days.

14. General

These Terms, together with our Privacy Policy and any order or plan terms you accept, are the entire agreement between you and us about the Service. If any part of these Terms is found unenforceable, the rest stays in effect. Not enforcing a provision is not a waiver of it. You may not transfer these Terms without our consent; we may transfer them as part of a merger, acquisition or sale of assets.

15. Contact us

Questions about these Terms? Email us at sales@penclit.com.