End User License Agreement
Last updated: 13 August 2026
This agreement governs your use of the FinExplorer and FinAudit Microsoft Excel add-ins (the “Software”). It sits alongside our Terms of Service; where the two differ on a licensing point, this agreement governs. By installing, activating or using the Software you accept it.
1. Definitions
- We / us — valuation.cl, an independent software business based in Santiago, Chile.
- You — the individual named on the license, or the organisation that bought it for a named individual.
- Named user — the one person entitled to use a license.
- Key — the activation code, in the form
VCL-XXXXX-XXXXX-XXXXX. - Term — the 12 months for which a license is valid.
2. License grant
We grant you a non-exclusive, non-transferable, revocable license to install and use the Software for the Term, subject to this agreement. A Bundle key licenses both products; a single-product key licenses only the product it was issued for.
3. One named user, one computer — and how to move it
A license is personal to one named user and activates on one computer at a time. The current seat count is shown in the License details dialog.
Changing computer does not mean buying again. Open License details on the ribbon and click Deactivate this PC before you leave the old machine; that frees your license immediately so you can activate it on the new one. Uninstall.cmd offers to do the same thing for you.
If the old computer is lost, stolen or dead and you cannot deactivate it yourself, email support@valuation.cl and we will release it for you. You will not be asked to buy a second license because a laptop broke.
You may use the Software for your ordinary professional work, including work you carry out for your employer or for your clients. What you may not do is let a second person use your license, or keep it activated on a machine someone else is using: if two people need the Software, two licenses are needed.
4. What you may not do
- Share, sell, rent, lend, sublicense, publish or otherwise transfer the Software or your key.
- Use one license for more than one person, or pool keys across a team.
- Decompile, disassemble or reverse-engineer the Software, except to the limited extent that applicable law expressly permits despite this restriction.
- Remove, disable, circumvent or tamper with the licensing or trial mechanism, or with any notice contained in the Software.
- Copy the Software except for a reasonable backup, or incorporate it into another product.
- Use it to develop a competing product.
5. Activation, online checks and offline use
Activation validates your key against our server at api.valuation.cl over an encrypted connection, sending only the key, the product name and a device identifier — never anything from your workbooks. See the Privacy Policy.
The Software re-checks the license periodically. If our server cannot be reached, it keeps working offline for up to 7 days using the cached expiry date. Beyond that, an internet connection is needed to continue.
6. The free trial
The trial licenses the Software for 10 days, with full functionality, for evaluation. It starts automatically on first use and requires an internet connection to begin. It is recorded against your device on our server, so it is one trial per device and reinstalling does not restart it. All the restrictions in section 4 apply to the trial. When it ends the ribbon buttons are disabled; your workbooks are untouched.
7. Revocation
We may revoke a key if it is shared between different people, if the purchase is reversed by a chargeback, if a refund is issued, or in case of fraud or a serious breach of section 4. Where a breach appears unintentional we will contact you first and give you a chance to put it right.
8. Updates and support
Your license includes product updates and email support at support@valuation.cl for the Term, with a target response of one business day. Updates are provided under this same agreement. We may add, change or remove features as the products evolve.
9. Expiry — and what keeps working
At the end of the Term the license expires unless renewed. The ribbon commands then stop working.
Your files are always yours. Expiry, revocation or uninstalling affects only the add-in. Your workbooks, their formulas, their data and any report sheets the Software generated remain exactly as they are, on your own computer, and stay fully usable in Excel without the Software.
One practical note: if you have highlights applied, use Clear highlights before the license lapses so the original cell colours are restored.
10. Ownership
The Software is licensed, not sold. All rights, title and interest in it, including all intellectual property, remain ours. This agreement transfers no ownership. All rights not expressly granted are reserved.
11. Third-party rights
The Software requires Microsoft Excel, which you must license separately from Microsoft. “Microsoft” and “Excel” are trademarks of Microsoft Corporation. We are not affiliated with, endorsed by or sponsored by Microsoft, nor by any other vendor whose product we name for comparison.
12. System requirements
Windows 10 or 11 with desktop Microsoft Excel (Microsoft 365, or Excel 2016, 2019, 2021 or 2024). The Software does not run on Excel for Mac or Excel on the web. The free trial exists so you can confirm compatibility before buying.
13. What the Software is — and is not
The Software is an analysis aid for a human reviewer. It highlights formulas, traces references and flags patterns that often indicate a mistake. It does not certify that a model is correct, complete or fit for any purpose, and it will not find every error, inconsistency or hardcoded value.
Nothing it produces is financial, investment, valuation, audit, accounting, tax or legal advice. We provide software only; we do not perform any of those services. Every conclusion drawn from a model remains your professional responsibility.
14. Warranty disclaimer
The Software is provided “as is” and “as available”. To the fullest extent permitted by law, we disclaim all warranties not expressly stated here, including implied warranties of merchantability, fitness for a particular purpose and non-infringement. We do not warrant that the Software is error-free or that it will operate uninterrupted.
Nothing here limits any right you have under mandatory consumer protection law in your country.
15. Limitation of liability
To the fullest extent permitted by law, our total liability arising out of or relating to the Software is limited to the amount you paid us for the license in the 12 months before the event giving rise to the claim. We are not liable for indirect or consequential loss, loss of profit, loss of business, or loss or corruption of data.
This limit does not apply to liability that cannot be excluded by law, including fraud, or death or personal injury caused by negligence.
16. Termination
This agreement ends when the Term expires, when the license is revoked under section 7, or when you uninstall the Software and stop using it. On termination you must stop using the Software and remove it from your devices. Sections 4, 10, 13, 14, 15 and 18 survive.
17. Changes to this agreement
We may update this agreement; the date at the top shows the current version. If a change materially affects your rights we will email active license holders at least 14 days before it takes effect. Changes never apply retroactively to a Term you have already paid for.
18. Governing law
This agreement is governed by the laws of Chile, and the courts of Santiago, Chile have jurisdiction — without depriving you of the protection of mandatory laws, or the right to bring proceedings in the courts, of the country where you live.
19. Entire agreement
This agreement, together with the Terms of Service, the Privacy Policy and the Refund Policy, is the entire agreement between us about the Software. Where this agreement and the Terms of Service differ on a licensing point, this agreement governs. If any provision is held unenforceable, the rest remains in force.
20. Contact
valuation.cl · Santiago, Chile · support@valuation.cl
We are a small independent business and do not publish our registered details on the open web. Our full legal name and registration details are available on request — just email us. They are also held by Lemon Squeezy, who verified them and who is the seller of record named on your invoice.