TERMS AND CONDITIONS

General conditions

Contents

General conditions
1. New LEI, LEI renewal and LEI transfer process
2. Multiyear plans and automatic renewals
3. Premium service
4. LEI certificate & tag
5. Fees
6. Refund policy
7. Governing law
Final conditions

The contracting party is the LEI Register group company operating in the client’s country of residence. If no LEI Register group company operates in the client’s country of residence, then it will be LEI Register OU (LEI code 894500SMOMUFH0UZXT46). LEI Register group operates in India under the trademark LEI Register. LEI Register is an LEI Registration Agent. We partner with the Local Operating Unit(s) (LOU) Ubisecure Oy (RapidLEI) LEI: 529900T8BM49AURSDO55, Nasdaq CSD SE (Nasdaq LEI) LEI: 485100001PLJJ09NZT59.

LEI Register group companies:

LEI Register OU
Address: Uus tn 21-2, 10111, Tallinn, Estonia
Email: [email protected]

LEI Kode ApS
Address: Øllgårdsvej 5, 2630, Taastrup, Denmark
Email: [email protected]

LEI Register India Private Limited
Toll free number: 1800-120-3505
LEI code: 9845003A5176DAA0E442
Email: [email protected]

CIN: U74999PN2019FTC184211

Registered in: 15A, 4TH FLOOR, CITY VISTA, TOWER A FOUNTAIN ROAD, KHARADI PUNE Pune MH 411014 IN

Office location: SIXTH FLOOR, CCSG0615, BLOCK G, CITY CENTER SILIGURI, CITY CENTER SILIGURI, Matigara, Siliguri, Darjeeling, West Bengal, 734010

1. New LEI, LEI renewal and LEI transfer process

1.1. To apply for a new LEI code, renew an existing LEI code, or transfer an LEI code under LEI Register India’s management, the applicant needs to fill in the relevant application form, submit their data and pay for the service by Netbanking, Bank transfer, Credit Card or Razorpay.

1.2. The applicant agrees that while submitting the form, they accept the terms and conditions of LEI Register India. The applicant confirms that the data submitted is correct and they have full authority to apply for an LEI code on behalf of the legal entity (customer). The applicant knows their contact details can be shared with the Local Operating Unit (LOU).

1.3. The applicant is aware and agrees to give all rights to LEI Register India to sign the terms and conditions of the selected LOU on their behalf. For example, the terms of service of RapidLEI can be found here. The terms of service among LOUs are very similar as they all follow the Global Legal Entity Identifier Foundation’s (GLEIF) guidelines.

1.4. The applicant gives all rights to LEI Register India to manage the LEI of the legal entity on their behalf. For example, a new LEI applicant gives all rights to LEI Register India to apply for an LEI code on the legal entity’s behalf. An LEI renewal applicant gives all rights to LEI Register India to renew an LEI on the legal entity’s behalf. An LEI transfer applicant gives all rights to LEI Register India to transfer their LEI under LEI Register India’s management.

1.5. An LEI transfer applicant is aware that an LEI transfer entails/may entail a change of LOU. If an LEI renewal applicant applies to renew an LEI code with LEI Register India that is not under their management, the LEI needs to be transferred under LEI Register India‘s management. The LEI can be transferred before renewing the LEI or during the LEI renewal process. LEI Register India cannot renew an LEI code that is not under their management.

1.6. An LEI that is managed by LEI Register India can be renewed a maximum of 60 days before it expires. However, if the customer transfers and renews an LEI that is managed by a service provider that is different to LEI Register India and the “next renewal date” of the LEI is further than 60 days, days from the renewal period of the LEI may be lost.

1.7. LEI Register India will start with the LEI registration, renewal and/or transfer process shortly after they have received the application and confirmation of the payment.

1.8. The applicant is aware that they may be contacted to provide a Letter of Authorization (Power of Attorney) or any other proof that shows they are authorized to apply for an LEI on behalf of the legal entity.

1.8.1. The applicant is aware that only the designated signatories can sign the Letter of Authorization under their respective identities. Impersonating an authorized signatory is prohibited, constituting identity fraud.

1.9. The applicant is aware that they may be contacted to provide additional documents. For example, LEI Register India may ask for documents that prove the registration of the legal entity, documents that show who the authorized representatives of the legal entity are, documents that show the creation date of the legal entity or documents that show when amendments to the legal entity data were made.

1.10. The applicant is aware that if the legal entity has a direct and/or ultimate parent company that owns controlling shares (typically >50%) and consolidates the accounts of the child company, they are required to report Parental (Level 2) data. If the legal entity does not have any parent companies or cannot report them, it will be necessary to indicate a reason for not providing Parental (Level 2) data by choosing a reporting exception.

1.10.1. LEI Register India can contact the applicant to provide additional documents to verify consolidation.

1.11. The applicant is aware that if the legal entity is an international branch, they are required to report the head office’s LEI code. If they do not provide the head office’s LEI code, LEI Register India cannot proceed with the LEI application. The head office’s LEI code must be in an ISSUED status.

1.12. The applicant is aware that if the legal entity is a fund, LEI Register India may request information on fund relationships (fund management entity, umbrella fund of a sub-fund and/or master fund of a feeder fund).

1.12.1. LEI Register India can contact the applicant to provide additional documents to verify the fund relationship(s).

1.12.2. To report a relationship, an LEI is required from the fund management entity, umbrella fund, and master fund.

1.13. The applicant is aware that they agree to receive promotional calls on the number provided once they have submitted the application. These calls and SMS messages may originate from a third-party platform.

1.14. The LEI code will be provided as soon as possible. In 90% of cases, new LEI codes are issued within 1-24 hours. Validating parental and fund relationship data can take up to 48 hours. LEI renewals and transfers can take up to 7 days. If there are issues with data validation, or in rare cases, the processing times can be longer than usual.

1.15. Once the process has been completed, the applicant will receive a confirmation email with the invoice sent to the contact email provided in the LEI application.

1.16. The applicant is aware and agrees that once they have submitted the application and accepted the terms and conditions, the application is considered to be final. Once LEI Register India has received the transfer application, it cannot be revoked. Once LEI Register India has received confirmation of payment for a new LEI, LEI renewal, or renewal and transfer application, the application cannot be revoked. If the applicant has provided enough information to process the LEI application, the process cannot be stopped, and the LEI will be issued.

1.17. The applicant is aware that if they fail to provide any information they are requested, including all of the information requests mentioned above, LEI Register India and the relevant LOU will make reasonable efforts to complete the LEI application. This may result in setting the Parental (Level 2) details as non-public or in not publishing the fund relationship data. However, in case the LEI cannot be issued, renewed, and/or transferred as a result of the applicant failing to provide the requested information, LEI Register India and the relevant LOU are not responsible for any LEI-related damages.

1.18. The applicant is aware that once an LEI code has been issued, the LEI and the legal entity’s LEI-related reference data will be published in the GLEIF’s and LEI Register India’s website. Once an LEI has been issued, it cannot be deleted or transferred to a different legal entity.

1.19. LEI Register India will send an e-mail and/or SMS to the contact e-mail and/or contact number provided 60 days before an LEI needs to be renewed (i.e., 60 days before the paid expiration date).

2. Multiyear plans and automatic renewals

2.1. For the convenience of customers, LEI Register India offers the opportunity to prepay the renewal fee in advance for up to 5 years.

2.1.2. If the customer has bought the LEI renewal service for multiple years, LEI Register India will cover the renewal cost for the period bought.

2.1.3. If the customer has ordered a multiyear renewal of their LEI (e.g., a 5-year LEI) from LEI Register India and, during the prepaid period, transfers the LEI to a different service provider, the multiyear contract is automatically canceled.

2.2. Whether the customer has bought the renewal service for multiple years (2-5), the LEI data will be updated annually. Hence, the “next renewal date” in the GLEIF database is usually the time of LEI issuance/last renewal + 365 days, but never more than 425 days in the future.

2.3. A customer can opt to have their LEI renewed automatically.

2.3.1. If a customer has chosen automatic annual renewal of their LEI, they will be charged 60 days before the end of their contract. The payment will be deducted from the same account provided for the first payment.

2.3.2. The customer will be notified about the upcoming automatic renewal by email. They will have a 5-day period for submitting changes to their LEI data in case anything needs to be updated or to cancel the automatic renewal of their LEI. After the 5-day period LEI Register India will start the renewal process. Once the renewal process has been completed the customer will receive a confirmation email with the invoice for the renewal service. Once the LEI has been renewed the renewal cannot be reversed.

2.4. LEI Register India has full right to renew the legal entity’s LEI code and update reference data in the GLEIF database through the relevant LOU.

2.4.1. If the legal entity is registered, LEI Register India and the relevant LOU can update the legal entity’s reference data based on the relevant registry.

2.4.2. If the legal entity’s data cannot be verified against a registry, LEI Register India and the relevant LOU will reasonably try renewing the LEI using the existing data. This may include setting the Parental (Level 2) data to non-public or not reporting the fund relationship data.

2.4.3. The customer agrees to notify LEI Register India in case there has been a change in data that cannot be validated from public registries and to provide the relevant updated information.

2.4.4. LEI Register India may contact the customer to provide updated information and/or documents (e.g., updated consolidated accounts, a reporting exception, a letter of authorization, proof of authorization, or any other data).

2.4.5. If the customer fails to provide the requested information and/or documents, the LEI may not be renewed. If, as a result of the customer failing to provide the requested information, the LEI is not renewed, LEI Register India and the relevant LOU are not responsible for any LEI-related damages. If the customer fails to provide the requested information in 60 days LEI Register India, the customer has the right to cancel the contract.

3. Premium service

3.1. When applying for or renewing an LEI, customers have two choices: Regular and Premium. The Premium service offers a Fast-track option (processed in under 4 hours) for eligible clients; otherwise, priority processing is provided. Additionally, the Premium service includes both hardcopy and digital LEI certificates, which have distinct designs and contain more detailed company information.

3.2. LEI Register India will make reasonable efforts to provide the LEI in the promised time frame.

4. LEI certificate & tag

4.1. An LEI certificate & tag with a hardcopy of the certificate can be added to the order on the checkout page or obtained separately after the LEI data has been published on this website. The LEI certificate & tag with a hardcopy of the certificate can be obtained separately by searching for the LEI code under this website’s “LEI certificate” section.

4.2. LEI Register India will send the hardcopy of the certificate in 7 working days. The hardcopy will be sent to the legal address of the legal entity.

4.3. LEI Register India reserves the right not to send a new hardcopy if the customer has provided incorrect data or does not accept the delivery.

5. Fees

5.1. Fees to order a new LEI, transfer an LEI, or renew an LEI can be found in this webpage’s “LEI cost” section. The cost of a new LEI code includes the initial registration of an LEI and the annual renewal of the LEI for the chosen period. The cost of renewing an existing LEI code includes the annual renewal of the LEI for the selected period. Transferring an LEI is free if it is needed. The indicated costs include the GLEIF fee. The Prices shown are without GST. 18% GST applies under the GST regulations.

5.2. The applicant can choose additional services for an extra cost.

5.2.1. Adding parental data costs ₹750 per parent per year.

5.2.2. Validating fund data costs ₹750 per year.

5.2.3. An additional charge will apply if the Premium service is selected during checkout.

5.2.4. This website’s LEI certificate section provides details about both free and Premium LEI certificates (available for an additional cost).

5.3. The amount charged for the automatic renewal will be based on the current price posted on the LEI Register website at the time of the transaction. Prices are subject to change.

6. Refund policy

6.1 To apply for a refund, contact [email protected]. Refund and cancellation requests can also be sent to G-0615, Block G, City Center Siliguri, City Center Siliguri, Matigara, Siliguri.

6.2 Refunds will be issued within 7 days. Please note that refund times vary by bank. It can take up to 30 days for the refund to arrive.

6.3. LEI Register India has the right to charge a refund fee of ₹2700 per refund.

6.4. The customer can request a refund if they do not meet any of the conditions mentioned in point 6.5.

6.5. LEI Register India has the right to deny any refunds if:

6.5.1. The application has been counted as final.

6.5.2. The automatic renewal of an LEI has been completed.

6.5.3. The customer has ordered a multiyear renewal of their LEI (e.g., a 5-year LEI) and discovers later that they do not need an active LEI anymore.

6.5.4. The customer transfers the LEI to a different service provider before the end of their pre-paid renewal period.

6.5.5. Days from the renewal period of the LEI are lost because the customer transfers and renews an LEI that is managed by a service provider that is different from LEI Register India, and the “next renewal date” of the LEI is further than 60 days.

6.5.6. Days from the renewal period of an international branch’s LEI are lost because the head office’s LEI has been set to LAPSED status, and subsequently, the international branch’s LEI has been set to LAPSED status.

6.5.7. An LEI cannot be issued, renewed, or transferred as a result of the customer failing to provide the required information in the course of 60 days. The information required can include, but is not limited to:

a Letter of Authorization
proof of authorization
documents that show who the authorized representatives of the legal entity are
registration documents
documents that show the creation date of the legal entity
documents that show when amendments to the legal entity data were made
documents to verify consolidation or fund relationships
the LEI of the head office or umbrella fund
any other documents/ information related to the legal entity.

6.5.8. After validating the Parental (Level 2) data provided, it becomes clear that at least one of the parent companies does not consolidate.

6.5.9. The customer does not accept the delivery of the hardcopy of their LEI certificate or if they provide incorrect data.

6.6. The refund period, as detailed under the GLEIF Registration Agent Governance Framework, will be honored appropriately.

7. Governing law

7.1 This agreement and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed under the law of India.

Final conditions

The customer is fully responsible for any LEI code-related activity connected to the legal entity they represent. LEI Register India is not responsible in any way for possible damage related to LEIs.

LEI Register India operates as an LEI Registration Agent in the customer’s name and cooperates with the GLEIF accredited LOUs to order, renew, transfer, and update LEIs for their customers.

LEI Register reserves the right to change its Terms and Conditions anytime. A document outlining the current Terms and Conditions can always be found on LEI Register India’s website: https://www.legalentityidentifier.in

Terms and conditions