Terms of Service

1. Service Overview

ResiParq is a cashless parking management platform for residential strata communities, operated by Sonicboom Solutions Sdn Bhd (“we”, “us”, “ResiParq”). The platform provides guard-powered vehicle plate capture, cashless payment processing, automated overnight billing, enforcement digitisation, and management reporting.

2. Revenue Sharing Model

ResiParq operates on a zero-capex, zero-opex revenue sharing model. The community (JMB/MC) bears no upfront cost for hardware, installation, software, or ongoing maintenance. Revenue sharing percentages are determined based on the actual bay count and final equipment scope, as agreed in the service contract between ResiParq and the community.

3. Hardware & Equipment

All hardware deployed at the community — including handheld payment devices, IoT integration equipment, network infrastructure, and signage — remains the property of Sonicboom Solutions Sdn Bhd. Hardware is installed, maintained, and replaced by ResiParq at no cost to the community for the duration of the service contract.

4. Settlement & Payment

Parking revenue collected from visitors is processed through our acquiring bank partner. The community's share is settled T+1 (next business day) into the designated account. Receipts are issued under the community's (JMB/MC) name.

5. Guard Training

ResiParq provides automated multi-language video training for security guards. Training materials are accessible after the service agreement is executed. Guard training covers device operation, cashless payment acceptance, enforcement procedures, and CMS reporting.

6. Data & Reporting

The community (JMB/MC) retains access to the management dashboard for the duration of the service contract. Reports include visitor parking revenue, overnight charges, enforcement events, and settlement summaries. The community has the right to request data export or deletion at any time.

7. Contract Duration & Termination

Service contract duration and termination terms are agreed individually with each community. Upon termination, ResiParq will remove all hardware and delete community-specific data within 90 days unless otherwise agreed or required by law.

8. Limitation of Liability

ResiParq provides the platform on an “as-is” basis. We make commercially reasonable efforts to ensure uptime, accuracy, and reliability. ResiParq shall not be liable for indirect, incidental, or consequential damages arising from the use of the platform, except where required by Malaysian law. Total liability shall not exceed the total revenue share paid to the community in the preceding 12 months.

9. Governing Law

These terms are governed by the laws of Malaysia. Any disputes shall be resolved through negotiation in good faith, and if unresolved, through the courts of Malaysia.

10. Changes to These Terms

We may update these terms from time to time. Communities with active service contracts will be notified of material changes.

11. Contact

For questions about these terms, contact:
Sonicboom Solutions Sdn Bhd
Email: info@resiparq.com
Kuala Lumpur, Malaysia