Vaultastic (and all of Mithi’s cloud products) are offered as SaaS solutions (now) with a Pay per use model.
In the pay per use payment agreement model, you are not bound by any contracts and you can freely reduce or grow your usage at any time and cancel at any time.
Our systems track your usage daily on all our services and generate a bill on the 1st of each month, aggregating your usage for the previous month. This accommodates growth/shrinkage in usage with a pro-rata of one day.
There are two triggers to ending your pay per use agreement with Mithi
- You cancel the services
- You don’t pay the monthly bill within the stipulated period from the date of the invoice.
For point 1 above, the customer account and all associated data will be automatically marked for deletion and cleared during the scheduled data clean-up of our system.
For point 2 above, accounts enter a suspension period. The suspension period lasts for 30 days. During this 30-day period, the administrator won’t be able to perform any changes or onboard new users via the administration console, while the end-user functions will unaffected for the first 15 days, after which the end-users will also lose access to their accounts. After 30 days to mark the end of the full suspension period, the customer account and all associated data will be automatically marked for deletion and cleared during the scheduled data clean-up of our system.
This is an irreversible operation. To prevent this, please ensure that your account is reinstated before the end of the 30-day suspension period.
All this is documented in detail in our SLA.