Terms and Conditions

F.I.D. provides the LEI service. Firmeninformationsdienst GmbH (LEI Number 98450069D77R7698B317). LEI.net is an LEI Registration Agent. F.I.D. Firmeninformationsdienst GmbH operates under the trademark LEI.net™. 

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 LEI.net™. The applicant confirms 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 know their contact details will be shared with the L.O.U. (Local Operating Unit) Bundesanzeiger Verlag GmbH. 

1.3

The new LEI applicant gives all rights to LEI.net™ to apply for an LEI code on the Legal Entity's behalf. LEI Renewal applicant gives all rights to LEI.net™ to renew an LEI on the Legal Entity's behalf. LEI transfer applicant permits to transfer the LEI under our management. An LEI transfer applicant knows that LEI transfer entails/may entail a change of L.O.U. 

1.3.1

The applicant is aware of and agrees to give all rights to LEI.net™ to sign the terms and conditions of the selected L.O.U. The terms of service for Bundesanzeiger Verlag GmbH can be found at https://www.leireg.de/en/legal. The terms of service among L.O.U.s are very similar as they all follow GLEIF's guidelines.

1.4

LEI.net™ 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 knows that if asked and no such authorisation is presented, LEI.net™ cannot proceed with the application. If the applicant fails to provide such documents, LEI.net™ keeps the right not to issue any refunds.

1.5

LEI.net™ 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, LEI.net™ cannot proceed with the application. If the applicant fails to provide such documents, LEI.net™ keeps the right not to issue any refunds.

1.6

The LEI code will be provided as soon as possible after the payment. The LEI code will usually be issued in less than 24 hours. However, in some rare cases, it may take up to a full week. The LEI renewal or transfer process can take up to 7 days. Once the LEI code has been issued or renewed, an email with an invoice will be sent to the applicant's email address.

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 a 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 give the LEI, the process cannot be stopped and the LEI will be issued.

2.  contracts  

Suppose the client has bought the LEI renewal service for multiple years. In that case, LEI.net™ 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 the 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.  

2.1

The client agrees to notify LEI.net™ 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).  LEI.net™ will amend the data accordingly through the relevant L.O.U.

2.2

If the signing authority has changed during the automatic renewal period, LEI.net™ 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 appropriate person, LEI.net™ cannot continue with the automatic renewal. The LEI will be renewed once the customer provides the Letter of Authorisation by the company's legal representative or can provide proof that they are authorised to sign the authorisation form.

2.3

If no Letter of Authorisation is presented in 60 days LEI.net™ has the right to cancel the multiyear contract and no refunds will be issued.

2.4

Customers will be notified by email about the upcoming automatic renewal. They will have a 5-day period to submit changes to their LEI data in case anything needs to be updated. After the 5 days, the LEI Register will start the renewal process. Once the renewal process has been completed, the customers will receive a final confirmation email with the final invoice for the renewal service.

3. Fees 

Fees for ordering a new LEI, transferring an LEI or renewing an LEI can be found at the homepage at the product section.  LEI.net™ has the right to charge a refund fee of 30 GBP per refund.  

4. Refund policy’s 

.

LEI.net™ has the right to deny any refunds if: 

  • The purchase has been counted as final. 
  • The client transfers the LEI to a different service provider. 
  • 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 within 60 days of submitting the application. 

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 by the law of Germany. 

Final conditions

The client is fully responsible for any LEI number-related activity connected to the Legal Entity they represent. LEI.net™ is not responsible in any way for possible damage related to LEIs. 

LEI.net™ operates as an LEI Registration Agent in the client’s name and cooperates with the GLEIF accredited L.O.U. Bundesanzeiger Verlag GmbH to order, renew or transfer LEIs for their clients. 

LEI.net™ reserves the right to change its Terms and Conditions at any time. A document outlining the current Terms and Conditions can always be found on the website: https://lei.net/terms-and-conditions/