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Terms & Conditions General Conditions
The LEI service is provided by LEI Register OU (LEI number 894500SMOMUFH0UZXT46). LEI Register OU is an LEI Registration Agent. LEI Register OU operates under the trademark LEIAdmin.com.
1 New LEI, LEI Renewal or Transfer process
1.1 To apply for an LEI number/renew an existing number or transfer an LEI number under our management fill in the relevant application form, submit your data and pay for the service by credit card, PayPal or bank transfer.
1.2 The applicant agrees that while submitting the form they accept the terms and conditions of LEIAdmin.com. The applicant confirms that they have full authority to apply for an LEI number on behalf of the Legal Entity. The applicant confirms that the data submitted is correct and that they are aware their contact details can be shared with the LOU (Local Operating Unit).
1.3 The new LEI applicant gives all rights to LEIAdmin.com to apply for an LEI code on the Legal Entity’s behalf. LEI Renewal applicant gives all rights to LEIAdmin.com to renew an LEI on the Legal Entity’s behalf. LEI transfer applicant gives permission to transfer the LEI under our management. LEI transfer applicant is aware that LEI transfer entails/may entail a change of LOU.
1.3.1 The applicant is aware and agrees to give all rights to LEIAdmin.com to sign the terms and conditions of the selected LOU. For example the terms of service for RapidLEI can be found from here. The terms of service among LOUs are very similar as they all follow GLEIF’s guidelines.
1.4 LEIAdmin.com will start with the LEI registration process shortly after the client has made the payment. The applicant is aware that they may be contacted to supply a Letter of Authorisation (Power of attorney) or any other proof that the applicant is authorised to apply for an LEI on behalf of the Legal Entity. The applicant is aware that if asked and no such authorisation is presented, LEIAdmin.com cannot proceed with the application. If the applicant fails to provide such documents LEIAdmin.com keeps the right to not issue any refunds.
1.5 LEIAdmin.com can also contact the customer to provide additional documents of proof regarding the registration of the Legal Entity or documents that provide proof of the person(s) authorised to represent the Legal Entity. The applicant is aware that if asked and no such documents are presented LEIAdmin.com cannot proceed with the application. If the applicant fails to provide such documents LEIAdmin.com keeps the right to not issue any refunds.
1.6 The LEI code will be provided as soon as possible after the payment has been made. In most cases the LEI code will be issued in less than 24 hours. However, in some rare cases, it may take up to a full week. LEI renewal or transfer process can take up to 7 days. Once the LEI code has been issued or renewed, an e-mail will with an invoice will be sent to the e-mail address provided by the applicant.
1.7 The applicant is aware and agrees that the application will be counted as final after the data has been submitted and the payment has been made. If the client has submitted an application for an new LEI, or ordered an LEI renewal or transfer and the client has accepted the Terms and Conditions, the application is considered to be final and it is not possible for the client to revoke the application. If the applicant has provided enough information to provide the LEI, the process can not be stopped and the LEI will be issued.
2. Multiyear contracts
For the convenience of customers LEIAdmin.com offers the opportunity to prepay renewal fee in advance for up to 5 years.
2.1 If the client has bought the LEI renewal service for multiple years LEIAdmin.com will cover the renewal cost for the period bought and renew the company’s data in the GLEIF (Global Legal Entity Identifier Foundation) database annually based on the data provided in public company registries. The client accepts that the Legal Entity data will be automatically corrected according to the official entity registration documents if they have changed compared to the previous data records in the GLEIF database.
2.2 The client agrees to notify LEIAdmin.com in case there has been a change in data that cannot be validated from public company registries (e.g. Level 2 data which is to validate the Parent or Ultimate Parent Entity). LEIAdmin.com will amend the data accordingly through the relevant LOU.
2.3 If the signing authority has changed during the automatic renewal period LEIAdmin.com will ask to provide a new Letter of Authorisation from a relevant signing authority. If the client fails to provide the signed Letter of Authorisation by the relevant person LEIAdmin.com cannot continue with the automatic renewal. The LEI will be renewed once the customer provides the Letter of Authorisation by the legal representative of the company or can provide proof that he/she is authorised to sign the authorisation form.
2.4 If no Letter of Authorisation is presented in 60 days LEIAdmin.com has the right to cancel the multiyear contract and no refunds will be issued.
2.5 If the client orders a multiyear renewal for their LEI (e.g. a 5-year LEI) and discovers later that they do not need an active LEI anymore or would like to transfer their LEI to a different LEI service provider, then transfer is possible, but the multiyear contract will be automatically cancelled and the client is not eligible for a refund.
2.6. Regardless if the client has bought the renewal service for multiple years (2-5), 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.
3. Fast-track service
3.1 If the fast-track option is presented on the checkout page, it is complimentary for multiyear contracts. For single year contracts an extra fee of 30 GBP will be charged for the fast-track service.
3.2 LEIAdmin.com guarantees to provide a new LEI in 3 hours for fast-track customers.
3.3 If LEIAdmin.com fails to deliver the LEI in 3 hours the surcharge for fast-track service will be refunded. As we do not ask for a surcharge for fast-track service for multiyear contracts no refunds will be issued for multiyear customers.
3.4 LEIAdmin.com will make reasonable efforts to provide the LEI in the promised time-frame.
4. Fees and refund policy
Fees to order a new LEI, transfer an LEI or renew an LEI can be found from the “LEI Cost” section of this webpage or from this link. LEIAdmin.com has the right to charge a refund fee of 30 GBP per refund. Surcharge for fast-track service is 30 GBP.
4.1 LEIAdmin.com has the right to deny any refunds if:
4.1.1 The purchase has been counted as final.
4.1.2 The client transfers the LEI to a different service provider.
4.1.3. The client fails to submit proof of authorisation, proof of Legal Entity registration or any other documentation required to issue/transfer or renew the LEI in the course of 60 days since the application has been submitted.
5. Governing law
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 in accordance with the law of England and Wales.
Terms and conditions for referral partners:
6. Terms, conditions and guidelines for LEI Register Referral partners
PART ONE: MARKETING
Marketing outreach and service positioning
The LEI market is significant, with an estimated 99% of organizations yet to obtain an LEI. Partners should engage in fair competition with other Partners and LOUs. We suggest avoiding marketing campaigns that target existing LEI renewals from other LOUs. Note that because renewing is only possible through the LOU managing the LEI, renewal campaigns have the potential to inadvertently mislead the customer over which Partner/RA/LOU is currently managing the LEI.
Confused customers may not be able to legitimately renew their LEI prior to lapsing, which weakens the LEI ecosystem. Specifically:
- Marketing campaigns should always adhere to local emailing/outbound calling legislation and privacy regulations like GDPR.
- Advertising campaigns should not include the name of competing RAs or LOUs within the advertisement copy or the advertising URL.
- If you offer differentiated service levels based on speed or other differentiators, be sure to capture the specifics of the service levels in your Terms and Conditions.
When launching a new LEI offering, it is preferable to work closely with LEIRegister marketing on campaign ideas and activities.
Avoid subjective service comparisons
Subjective comparisons on service levels, solution features and other areas that are not pre-approved by all parties are not acceptable to either LEIRegister or our partner LOU. Comparing publicly disclosed factual data points, such as pricing, may be acceptable if maintained accurately, but in the interest of avoiding customer confusion and GLEIF complaints, we do not recommend such tactics.
Use of social media
All members of the LEI ecosystem monitor social media for LEI related posts and conversations. The GLEIF publishes social media reports to all LOUs. When using social media, Partners should not refer to themselves as an LEI Issuer or LOU (Legal Operating Unit), not claim to be accredited by the GLEIF. These statements may only be made by fully accredited LOUs.
We encourage the use of social media to amplify new LEI use case messages, reports and collateral published by the GLEIF and LOUs, and to propagate the positive impact LEIs are making to the economy.
Use of logos, trademarks
The client hereby grants LEIAdmin and LEI Register the right to use the name and service marks of the client in its marketing materials or other oral, electronic, or written promotions, which shall include naming Client as a client of LEIAdmin or LEI Register and a brief scope of services provided. In addition, the client hereby grants LEIAdmin the right to display its logo (or other identifying information) and a hyperlink to LEIAdmin or LEI Register websites. Either party may elect to issue a press release related to their partnership. In doing so, any release shall be approved by the other party and such approval shall not be unreasonably withheld.
The use of the GLEIF logos and “Official” status is highly restricted. RAs may only display the GLEIF logo, and may only refer to themselves as “Official” under active GLEIF license. Reference to being “Official” must also be accompanied by the GLEIF logo.
Trademarks belonging to other legal entities must not be infringed. Wilful infringement may cause cancellation of Partner or RA agreement. We also request that Partners do not cause market confusion by including the legal names, brand names, or Trademarks of other LEIRegister partners or competing LOUs in advertising, i.e. Google Ads.
7. Referral Program and LEI Management
By using the LEIAdmin referral program, the users agree to the Terms and Conditions of LEIAdmin.
- The commissions can be paid out only after (at least) 3 referrals or once the total collectable referral amount has reached 150€ on a single account.
- LEIAdmin referrals can’t be added to an account if the referrable client hasn’t used the provided referral link or iFrame solution.
By using the LEIAdmin LEI Management program, the users agree to the Terms and Conditions of LEIAdmin.
- LEIAdmin LEI Management users should not use the platform to apply for less than 10 LEI (Legal Entity Identifier) codes per year.
- LEIAdmin LEI Management users will receive free certificates only if they apply for/ renew at least 3 LEI (Legal Entity Identifier) codes in a 6-month timeframe.
7. Final conditions
The client is fully responsible for any LEI number related activity which is connected to the Legal Entity they are representing. LEIAdmin.com is not responsible in any way for possible damage related to LEIs.
LEI Register operates as an LEI Registration Agent in the name of the client and cooperates with the GLEIF accredited LOUs to order, renew or transfer LEIs for their clients.
LEI Register reserves the right to make changes to its Terms and Conditions at any time. A document outlining the current Terms and Conditions can always be found on the LEI Register’s website: www.leiadmin.com