Terms and Conditions
The LEI service is provided by F.I.D.Firmeninformationsdienst GmbH (LEI number 98450069D77R7698B317). LEI.net is an LEI registration authority. F.I.D.Firmeninformationsdienst GmbH operates under the LEI.net™ brand.
1. expiry Reapplication for an LEI number, an LEI renewal or transfer
1.1 To apply for an LEI number/renew an existing number or transfer an LEI number under our administration, fill in the relevant application form, submit your details and pay for the service by credit card, PayPal or bank transfer.
1.2. The applicant agrees that by submitting the form, he/she accepts the LEI.net™ Terms and Conditions. The applicant confirms that he/she has full authority to apply for an LEI number on behalf of the legal entity. The applicant confirms that the submitted data is correct and that he/she is aware that his/her contact details may be shared with the LOU (Local Operating Unit).
1.3 LEI Applicant gives LEI.net™ all rights to apply for an LEI code on behalf of the legal entity. LEI Renewal Applicant gives LEI.net™ all rights to renew an LEI on behalf of the legal entity. LEI Transfer Applicant gives permission to transfer the LEI under our administration. LEI Transfer Applicant understands that the LEI transfer includes/ may include a change to the LOU.
1.3.1 Applicant understands and agrees to assign all rights to LEI.net™ to sign the terms of the selected LOU. For example, the RapidLEI terms of service can be found at https://www.rapidlei.com. The terms of service of the LOUs are very similar, as they all follow the guidelines of GLEIF.
1.4 . LEI.net™ will begin the LEI registration process shortly after the customer has made payment. The applicant is aware that he/she may be contacted to provide a Letter of Authorization or other proof that the applicant is authorized to apply for an LEI on behalf of the legal entity. The applicant understands that LEI.net™ cannot proceed with the application if requested to do so and no such power of attorney is provided. If the applicant does not provide such documents, LEI.net™ reserves the right not to provide any refund.
1.5 LEI.net™ may also contact the Client to provide additional documents proving the registration of the legal entity or documents proving the person(s) authorized to represent the legal entity. The applicant is aware that in case of request and failure to provide such documents, LEI.net™ cannot proceed with the application. If the applicant fails to provide such documents, LEI.net™ reserves the right not to provide any refund.
1.6 The LEI code is provided as soon as possible after payment is made. In most cases, the LEI code is issued in less than 24 hours. However, in some rare cases, it may take up to a whole week. The LEI renewal or transfer process can take up to 7 days. Once the LEI code is issued or renewed, an email with an invoice will be sent to the email address provided by the applicant.
1.7 The applicant is aware and agrees that the application is considered final after the data has been submitted and the payment has been made. If the customer has submitted an application for a new LEI or ordered an LEI renewal or transfer and the customer has accepted the Terms and Conditions, the application is considered final and it is not possible for the customer to revoke the application. If the applicant has provided enough information to obtain the LEI, the process cannot be stopped and the LEI will be issued.
2. Multi-year contracts
For the convenience of customers, LEI.net™ offers the option to pay the renewal fee in advance for up to 5 years.
2.1If the customer has purchased the LEI renewal service for several years, LEI.net™ will cover the renewal costs for the purchased period and will 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 Customer agrees that the Legal Entity data will be automatically corrected according to the official company registration documents if they have changed compared to the previous records in the GLEIF database.
2.2 The Client agrees to notify LEI.net™ if any data has changed that cannot be validated from the public business registers (e.g. Level 2 data to validate the Parent Company or Ultimate Parent Entity). LEI.net™ will change the data accordingly via the appropriate LOU.
2.3 If the signing authority has changed during the automatic renewal period, LEI.net™ will require the submission of a new Letter of Authorization from a relevant signing authority. If the customer does not submit the Letter of Authorization signed by the relevant person, LEI.net™ cannot continue the automatic renewal. The LEI will be renewed as soon as the customer presents the Letter of Authorization from the legal representative of the company or can prove that he/she is authorized to sign the authorization form.
2.4 If a Letter of Authorization is not submitted within 60 days, LEI.net™ has the right to terminate the multi-year contract and no refunds will be issued.
2.5 If the customer orders a multi-year renewal for their LEI (e.g., a 5-year LEI) and later determines that they no longer need an active LEI or wish to transfer their LEI to another LEI service provider, then a transfer is possible, but the multi-year contract is automatically cancelled and the customer is not eligible for a refund.
2.6. Regardless of whether the customer has purchased the renewal service for multiple years (2-5), the LEI data is updated annually. Therefore, the “NEXT RENEWAL DATE” in the GLEIF database is usually the date of LEI award/last renewal + 365 days, but never more than 425 days in the future.
2.7. Customers who order the LEI registration service for 1 year can opt to have their LEI renewed automatically on an annual basis.
2.7.1 If a customer has chosen automatic annual renewal of their LEI, they will be charged 60 days prior to the “next renewal date” of the LEI. The payment will be debited from the same account specified for the first payment.
2.7.2 Customers will be notified by email of the upcoming automatic renewal. They have a 5-day period to submit changes to their LEI data if something needs to be updated. After the 5-day period, LEI Register will start the renewal process. Once the renewal process is complete, customers will receive a final confirmation email with the final invoice for the renewal service.
3. Fast-track service
Fast-track service is for new LEI customers only. Fast-track supports Legal Entities that are registered with the National Trade Register and do not have or report Level 2 data (parent structure). If the customer qualifies for Fast-track, the Fast-track option will be displayed prior to checkout. If there is no option, we have not found a match between the company registration number and the Companies House database or the parental structure has been reported in the application. In this case, the LEI application will be treated as a regular application.
3.1 When the Fast Track option is displayed on the checkout page, it is free for multi-year contracts. For one-year contracts, there is an additional fee of 30 GBP for the Fast Track service.
3.2 LEI.net™ guarantees the provision of a new LEI within 3 hours for Fast Track customers.
3.3 If LEI.net™ cannot deliver the LEI within 3 hours, the Fast Track Service surcharge will be refunded. Since we do not charge an additional fee for the Fast Track service for multi-year contracts, no refunds will be made for multi-year customers.
3.4 LEI.net™ will make reasonable efforts to provide the LEI in the promised time-frame.
4. Fees and refund policy
The fees for ordering a new LEI, transferring an LEI or renewing an LEI can be found in the “LEI Costs” section on this website or at this link. LEI.net™ has the right to charge a refund fee of 30 EUR per refund. The additional charge for the Fast Track service is 30 EUR.
4.1 LEI.net™ has the right to refuse a refund if:
4.1.1 The purchase has been counted as final.
4.1.2 The customer transfers the LEI number to another service provider.
4.1.3. The Customer fails to submit the proof of eligibility, proof of registration of the legal entity or other documents required for the issuance/transfer or renewal of the LEI number within 60 days from the date of 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 the laws of Germany, jurisdiction Munich.
Final conditions
The customer bears full responsibility for all activities related to the LEI number associated with the legal entity he represents. LEI.net™ is in no way responsible for possible damages related to LEIs.
LEI.net™ acts as an LEI registration agent on behalf of the client and partners with GLEIF-accredited LOUs to order, renew or transfer LEIs for their clients.
LEI.net™ reserves the right to make changes to the Terms and Conditions at any time. A document containing the current Terms and Conditions can be viewed at any time on the website www.lei.net.
