Terms of Service

Last Updated: March 26, 2026

These Terms of Service ("Terms") constitute a legally binding agreement between your financial advisory firm ("Firm," "you," or "your") and Bishop AI, LLC ("Bishop," "we," "us," or "our"), governing your access to and use of the Bishop AI platform, including all related services, features, and applications (collectively, the "Service"). By accessing or using the Service, you agree to be bound by these Terms.

1. Acceptance of Terms

By creating an account, accessing, or using the Service, you represent and warrant that you have the authority to bind your Firm to these Terms. If you do not agree to these Terms, you may not use the Service. We reserve the right to modify these Terms at any time. We will notify you of material changes via email or in-app notification at least thirty (30) days prior to the changes taking effect. Your continued use of the Service after such notice constitutes acceptance of the updated Terms.

2. Description of Service

Bishop is an AI-powered office automation platform designed specifically for financial advisory firms. The Service includes, but is not limited to:

• Meeting Recording and Transcription: Audio capture of client meetings (in-person, phone, video conference) with automatic transcription via third-party speech-to-text processing.
• AI-Generated Meeting Notes: Automated extraction of key points, action items, financial data, and personal details from meeting transcripts.
• Client Prep Sheets: AI-generated intelligence briefs compiled from historical meeting data and client records prior to scheduled meetings.
• Follow-Up Automation: AI-drafted follow-up emails, task creation, and calendar-based reminders.
• CRM Integration: Synchronization of meeting notes, tasks, and client updates with supported customer relationship management platforms.
• Morning Briefings: Daily summaries of schedules, due tasks, client milestones, and priorities.
• Compliance Monitoring: Tracking of required client contacts, missing documentation, overdue reviews, and regulatory deadlines.

3. Recording Consent Requirements

You acknowledge and agree that:

• You are solely responsible for obtaining all necessary consents before recording any meeting, call, or conversation using the Service.
• You must comply with all applicable federal and state recording laws, including but not limited to one-party and two-party (all-party) consent statutes in every jurisdiction where a meeting participant is located.
• You must inform all meeting participants that the meeting is being recorded and obtain their consent where required by law.
• You are responsible for maintaining documentation of consent obtained from meeting participants.
• Bishop provides tools to assist with consent documentation but does not guarantee compliance with any specific jurisdiction's recording laws.
• Failure to obtain proper consent may result in civil or criminal liability for which Bishop bears no responsibility.

4. Account Registration and Security

To use the Service, you must register for an account and provide accurate, current, and complete information. You are responsible for:

• Maintaining the confidentiality of your account credentials.
• All activities that occur under your account.
• Notifying us immediately of any unauthorized use of your account.
• Ensuring that each user within your Firm has their own authorized account.

We reserve the right to suspend or terminate accounts that we reasonably believe have been compromised or are being used in violation of these Terms.

5. Data Ownership

Your Firm retains full ownership of all data input into, generated by, or stored within the Service on your behalf, including but not limited to:

• Audio recordings and transcripts of your meetings.
• AI-generated meeting notes, summaries, and prep sheets.
• Client information, financial data, and personal details.
• Action items, tasks, and follow-up content.
• Any data synchronized from or to your CRM, calendar, or email systems.

Bishop claims no ownership interest in your data. We process your data solely to provide the Service and as described in our Privacy Policy. Upon termination of your account, you may export your data as described in Section 12.

6. AI Features Disclaimer

The Service does not constitute financial advice, investment advice, legal advice, tax advice, or any other form of professional advice.

• AI-generated content, including meeting notes, summaries, client prep sheets, action items, and follow-up drafts, is produced by automated systems and may contain errors, omissions, or inaccuracies.
• You are solely responsible for reviewing, verifying, and approving all AI-generated content before relying on it or sharing it with clients or third parties.
• Bishop does not make investment recommendations, provide suitability determinations, or render opinions on any financial product, strategy, or transaction.
• AI-generated content should not be used as the sole basis for any financial, investment, legal, or compliance decision.
• Bishop is a productivity and automation tool and does not replace the professional judgment of a licensed financial advisor, compliance officer, or legal counsel.

7. FINRA, SEC, and Regulatory Awareness

Bishop is designed with awareness of the regulatory environment in which financial advisors operate. However:

• Bishop is not a registered investment adviser, broker-dealer, or compliance service provider under any federal or state securities law.
• The Service is not endorsed, approved, or certified by FINRA, the SEC, any state securities regulator, or any other regulatory body.
• You remain solely responsible for compliance with all applicable laws, rules, and regulations, including but not limited to the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, FINRA Rules, SEC regulations, and state securities laws.
• Compliance monitoring features are informational aids only and do not constitute a compliance program. You must maintain your own compliance policies and procedures.
• You are responsible for determining whether and how the use of AI tools, including Bishop, must be disclosed to clients, regulators, or in your Form ADV or other regulatory filings.
• Record-keeping features of the Service may assist with but do not guarantee compliance with SEC Rule 17a-4, SEC Rule 204-2, or FINRA Rule 3110.

8. Acceptable Use

You agree not to use the Service to:

• Record meetings without obtaining required consent.
• Store, process, or transmit data in violation of applicable privacy or data protection laws.
• Engage in any activity that violates securities laws or regulations.
• Attempt to access data belonging to other firms or users.
• Reverse engineer, decompile, or attempt to extract the source code of the Service.
• Use the Service to develop a competing product or service.
• Exceed the usage limits of your subscription plan through automated means.
• Transmit malware, viruses, or any other malicious code.

9. Payment Terms

• Subscription Fees: The Service is offered on a monthly subscription basis at the rate specified in your chosen plan. Fees are billed in advance on a monthly cycle.
• Payment Method: You must provide a valid payment method (credit card or ACH). All payments are processed through Stripe, our PCI-compliant payment processor.
• Price Changes: We may adjust pricing with at least sixty (60) days' prior written notice. Price increases will not apply until the start of your next billing cycle following the notice period.
• Late Payments: Invoices not paid within fifteen (15) days of the due date may result in suspension of Service. Accounts more than thirty (30) days past due may be terminated.
• Taxes: Fees are exclusive of all applicable taxes. You are responsible for all sales, use, and other taxes imposed by any jurisdiction.
• Refunds: Monthly subscription fees are non-refundable. If you cancel mid-cycle, you retain access through the end of your current billing period.
• Beta Pricing: If you are enrolled in a beta program at a discounted rate, that rate is guaranteed for the period specified in your beta enrollment agreement.

10. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW:

• BISHOP SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, LOSS OF DATA, LOSS OF BUSINESS, OR LOSS OF GOODWILL, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF THE SERVICE, REGARDLESS OF THE THEORY OF LIABILITY.
• BISHOP'S TOTAL AGGREGATE LIABILITY TO YOU FOR ALL CLAIMS ARISING OUT OF OR RELATED TO THESE TERMS OR THE SERVICE SHALL NOT EXCEED THE TOTAL FEES PAID BY YOU TO BISHOP DURING THE TWELVE (12) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM.
• BISHOP IS NOT LIABLE FOR ANY ERRORS, OMISSIONS, OR INACCURACIES IN AI-GENERATED CONTENT, INCLUDING MEETING NOTES, SUMMARIES, PREP SHEETS, OR FOLLOW-UP COMMUNICATIONS.
• BISHOP IS NOT LIABLE FOR ANY REGULATORY ACTION, FINE, PENALTY, OR ENFORCEMENT PROCEEDING ARISING FROM YOUR USE OF THE SERVICE OR YOUR RELIANCE ON AI-GENERATED CONTENT.
• BISHOP IS NOT LIABLE FOR FAILURES OR INTERRUPTIONS IN THIRD-PARTY SERVICES INTEGRATED WITH THE PLATFORM, INCLUDING CRM SYSTEMS, CALENDAR PROVIDERS, AND EMAIL SERVICES.

11. Indemnification

You agree to indemnify, defend, and hold harmless Bishop, its officers, directors, employees, agents, and affiliates from and against any and all claims, damages, losses, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of or related to:

• Your use of the Service.
• Your failure to obtain required recording consents.
• Your violation of these Terms or any applicable law or regulation.
• Any claim that your use of the Service infringed the rights of a third party.
• Any regulatory action or proceeding related to your use of the Service.

12. Termination

• By You: You may cancel your subscription at any time through your account settings or by contacting support. Cancellation takes effect at the end of your current billing period.
• By Bishop: We may suspend or terminate your access to the Service immediately if you breach these Terms, fail to pay fees when due, or if we are required to do so by law or regulation.
• Data Export: Upon termination, you will have thirty (30) days to export your data. After this period, we will delete your data in accordance with our data retention policies described in our Privacy Policy.
• Survival: Sections relating to data ownership, limitation of liability, indemnification, governing law, and dispute resolution survive termination of these Terms.

13. Service Availability and Modifications

• We strive to maintain 99.9% uptime but do not guarantee uninterrupted access to the Service.
• We may perform scheduled maintenance with reasonable advance notice.
• We reserve the right to modify, update, or discontinue features of the Service. We will provide at least thirty (30) days' notice before discontinuing any material feature.
• We are not liable for any loss or damage resulting from scheduled or unscheduled downtime.

14. Intellectual Property

Bishop retains all rights, title, and interest in and to the Service, including all software, algorithms, models, interfaces, documentation, trademarks, and other intellectual property. These Terms do not grant you any rights to Bishop's intellectual property except the limited right to use the Service in accordance with these Terms. Feedback, suggestions, or ideas you provide about the Service may be used by Bishop without obligation to you.

15. Confidentiality

Each party agrees to maintain the confidentiality of the other party's confidential information and not to disclose it to third parties without prior written consent, except as required by law or regulation. Your client data is treated as your confidential information and protected as described in our Privacy Policy.

16. Governing Law and Dispute Resolution

• Governing Law: These Terms are governed by and construed in accordance with the laws of the State of Texas, without regard to its conflict of laws principles.
• Venue: Any legal action or proceeding arising under these Terms shall be brought exclusively in the state or federal courts located in Dallas County, Texas, and you consent to the personal jurisdiction of such courts.
• Informal Resolution: Before filing any legal action, you agree to attempt to resolve the dispute informally by contacting us. We will attempt to resolve the dispute within thirty (30) days of receiving notice.
• Attorneys' Fees: In any action to enforce these Terms, the prevailing party shall be entitled to recover reasonable attorneys' fees and costs.

17. Miscellaneous

• Entire Agreement: These Terms, together with our Privacy Policy, constitute the entire agreement between you and Bishop regarding the Service.
• Severability: If any provision of these Terms is held to be unenforceable, the remaining provisions shall remain in full force and effect.
• Waiver: The failure to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision.
• Assignment: You may not assign these Terms without our prior written consent. We may assign these Terms in connection with a merger, acquisition, or sale of all or substantially all of our assets.
• Force Majeure: Neither party shall be liable for any failure or delay in performance resulting from causes beyond its reasonable control, including natural disasters, war, terrorism, pandemics, labor disputes, government actions, or failures of third-party services.

18. Contact Information

For questions about these Terms, please contact us at:

Bishop AI, LLC
Email: legal@bishopforadvisors.com
Website: bishopforadvisors.com