TERMS AND CONDITIONS
General 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 number 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 (LOU) Ubisecure Oy (RapidLEI) (LEI number 529900T8BM49AURSDO55).
LEI Register group companies:
LEI Register OU
Address: Uus tn 21-2, 10111, Tallinn, Estonia
Email: info@leiregister.ee
LEI Kode ApS
Address: Øllgårdsvej 5, 2630, Taastrup, Denmark
Email: info@leikode.dk
LEI Register India Private Limited
Toll free number: 1800-120-3505
LEI number: 9845003A5176DAA0E442
Email: info@legalentityidentifier.in
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 number, renew an existing LEI number or transfer an LEI number under LEIKART’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 LEIKART. The applicant confirms that the data submitted is correct and that they have full authority to apply for an LEI number on behalf of the legal entity (customer). The applicant is aware 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 LEIKART 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 LEIKART to manage the LEI of the legal entity on their behalf. For example, a new LEI applicant gives all rights to LEIKART to apply for an LEI code on the legal entity’s behalf. An LEI renewal applicant gives all rights to LEIKART to renew an LEI on the legal entity’s behalf. An LEI transfer applicant gives all rights to LEIKART to transfer their LEI under LEIKART’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 LEIKART that is not under their management, the LEI needs to be transferred under LEIKART's management. The LEI can be transferred before renewing the LEI or during the LEI renewal process. LEIKART cannot renew an LEI code that is not under their management.
1.6. An LEI that is managed by LEIKART 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 LEIKART 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. LEIKART 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 authorised signatory is prohibited, constituting identity fraud.
1.9. The applicant is aware that they may be contacted to provide additional documents. For example, LEIKART 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. LEIKART 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, LEIKART cannot proceed with the LEI application. The head office's LEI number must be in an ISSUED status.
1.12. The applicant is aware that if the legal entity is a fund, LEIKART 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. LEIKART 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 e-mail with the invoice to the contact e-mail 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 LEIKART has received the transfer application it cannot be revoked. Once LEIKART 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 in case they fail to provide any information they are requested, including all of the information requests mentioned above, LEIKART 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, LEIKART 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 LEIKART’s website. Once an LEI has been issued it cannot be deleted or transferred to a different legal entity.
1.19. LEIKART 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 LEIKART 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 LEIKART 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 LEIKART and during the prepaid period transfers the LEI to a different service provider, the multiyear contract is automatically cancelled.
2.2. Regardless if 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 that was provided for the first payment.
2.3.2. The customer will be notified about the upcoming automatic renewal by e-mail. 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 LEIKART will start the renewal process. Once the renewal process has been completed the customer will receive a confirmation e-mail with the invoice for the renewal service. Once the LEI has been renewed the renewal cannot be reversed.
2.4. LEIKART 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, LEIKART and the relevant LOU have the right to 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, LEIKART and the relevant LOU will make reasonable efforts to renew 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 LEIKART 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. LEIKART 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, LEIKART and the relevant LOU are not responsible for any LEI related damages. If the customer fails to provide the requested information in 60 days LEIKART has the right to cancel the contract.
3. Priority Service
3.1. Priority Service is for new LEI customers only. Priority Service supports legal entities registered with the Company Registry / Registration Authority (for example Ministry of Corporate Affairs, IEC, GST Portal) that do not have or report parental (level 2) data or fund relationship data. If the customer qualifies for Priority Service, the Priority Service checkbox will be presented on the checkout page.
3.2. If the Priority Service checkbox is not shown on the checkout page then we did not find a match between the entity’s registration number and the Company Registry / Registration Authority (for example Ministry of Corporate Affairs, IEC, GST Portal) database or relationship data was reported in the application. In this case the LEI application will be treated as a regular application.
3.3. LEIKART guarantees to provide a new LEI in 4 hours for Priority Service customers.
3.4. LEIKART will make reasonable efforts to provide the LEI in the promised time-frame.
4. LEI Certificate/Tag
4.1. An LEI Certificate + Tag and a hard copy of the Certificate can be added to the order on the checkout page or bought separately after the LEI data has been published on this website. The LEI Certificate + Tag and a hard copy of the Certificate can be bought separately by searching for the LEI code under the “LEI Certificate/Tag” section of this website.
4.2. LEIKART will send the hard copy of the Certificate in 7 working days. The hard copy will be sent to the legal address of the legal entity.
4.3. LEIKART keeps the right to not send a new hard copy if the customer has provided incorrect data or if the customer 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 from the “LEI cost” section of this webpage. 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 chosen 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. If the Priority Service service is selected during checkout, an additional charge of ₹499 will apply.
5.2.4. The prices for the LEI Certificate + Tag and hard copy of the Certificate can be found under the “LEI Certificate/Tag” section of this website.
6. Refund Policy
6.1 To apply for a refund, contact info@leikart.com. 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. LEIKART has the right to charge a refund fee of ₹2700 per refund.
6.4. The customer is entitled to request a refund if they do not meet any of the conditions mentioned in point 6.5.
6.5. LEIKART 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 to LEIKART 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 hard copy of their LEI Certificate or if they provided incorrect data.
6.6. The refund period as detailed under the GLEIF RA Governance Framework will be honoured 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 in accordance with the law of India.
Final conditions
The customer is fully responsible for any LEI number related activity which is connected to the legal entity they are representing. LEIKART is not responsible in any way for possible damage related to LEIs.
LEIKART operates as an LEI Registration Agent in the name of the customer and co-operates with the GLEIF accredited LOUs to order, renew, transfer and update LEIs for their customers.
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 LEIKART’s website: https://ka.leikart.com/terms-and-conditions/
Table of Contents
1. New LEI, LEI Renewal and LEI Transfer process
2. Multiyear plans and automatic renewals
5. Fees