TERMS AND CONDITIONS
The LEI service (https://www.leiregister.mt) is provided by LEI Register OU (LEI number 894500SMOMUFH0UZXT46, entity address Uus 21-2, 10111, Tallinn, Estonia, registered under the laws of Estonia). LEI Register OU operates in Malta under the trademark LEI Register. LEI Register OU is an LEI Registration Agent.
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 LEI Register’s management, the applicant needs to fill in the relevant application form, submit their 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 Register. 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 LEI Register 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 to manage the LEI of the legal entity on their behalf. For example, a new LEI applicant gives all rights to LEI Register to apply for an LEI code on the legal entity’s behalf. An LEI renewal applicant gives all rights to LEI Register to renew an LEI on the legal entity’s behalf. An LEI transfer applicant gives all rights to LEI Register to transfer their LEI under LEI Register’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 that is not under their management, the LEI needs to be transferred under LEI Register's management. The LEI can be transferred before renewing the LEI or during the LEI renewal process. LEI Register cannot renew an LEI code that is not under their management.
1.6. An LEI that is managed by LEI Register 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 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 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 Authorisation (Power of Attorney) or any other proof that shows they are authorised to apply for an LEI on behalf of the legal entity.
1.9. The applicant is aware that they may be contacted to provide additional documents. For example, LEI Register may ask for documents that prove the registration of the legal entity, documents that show who the authorised 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 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 cannot proceed with the LEI application.
1.11.1. The “next renewal date” of an international branch’s LEI shall be the same as the “next renewal date” of its head office’s LEI.
1.12. The applicant is aware that if the legal entity is a fund, LEI Register 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 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 LEI code will be provided as soon as possible. In 90% of cases new LEI codes are issued within 1-6 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.
1.14. 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.
1.15. 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 has received the transfer application it cannot be revoked. Once LEI Register 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.
1.16. The applicant is aware that in case they fail to provide any information they are requested, including all of the information requests mentioned above, LEI Register 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 and the relevant LOU are not responsible for any LEI related damages.
1.17. 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’s website. Once an LEI has been issued it cannot be deleted or transferred to a different legal entity.
1.18. LEI Register will send an e-mail to the contact e-mail 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 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 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 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 who orders the LEI registration service for 1 year can opt to have their LEI renewed automatically on an annual basis.
2.3.1. If a customer has chosen the automatic annual renewal of their LEI, they will be charged 60 days before the LEI’s “next renewal date”. 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 LEI Register 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. LEI Register 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 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, LEI Register 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 LEI Register 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 may contact the customer to provide updated information and/or documents (e.g. updated consolidated accounts, a reporting exception, a letter of authorisation, proof of authorisation 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 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 has the right to cancel the contract.
3. Fast-track service
3.1. Fast-track service is for new LEI customers only. Fast-track supports legal entities registered with the Malta Business Registry that do not have or report parental (level 2) data or fund relationship data. If the customer qualifies for Fast-track, the Fast-track checkbox will be presented on the checkout page.
3.2. If the Fast-track checkbox is not shown on the checkout page then we did not find a match between the entity’s registration number and the Malta Business Registry database or relationship data was reported in the application. In this case the LEI application will be treated as a regular application.
3.3. LEI Register guarantees to provide a new LEI in 3 hours for Fast-track customers.
3.4. LEI Register 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. LEI Register 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. LEI Register 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.
5.1. 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. VAT is 18% in case of invalid or no VAT number, VAT will be added according to EU MOSS scheme. VAT is 0% in case of a valid EU VAT number. VAT number is automatically validated against the VIES database.
5.2. The applicant can choose additional services for an extra cost.
5.2.1. Adding parental data costs 10€ per parent per year.
5.2.2. Validating fund data costs 10€ per year.
5.2.3. 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 20€ will be charged for the Fast-track service.
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 email@example.com. Refund and cancellation requests can also be sent to Uus 21-2, 10111, Tallinn, Estonia.
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 has the right to charge a refund fee of 30€ 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. LEI Register 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 LEI Register 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 of aligning the “next renewal date” of the branch’s LEI to the “next renewal date” of its head office’s LEI.
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 Authorisation
- proof of authorisation
- documents that show who the authorised 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. LEI Register fails to provide the LEI in 3 hours for multiyear Fast-track customers as the Fast-track service is complimentary for multiyear customers.
6.5.10. The customer does not accept the delivery of the hard copy of their LEI Certificate or if they provided incorrect data.
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 England and Wales.
The customer is fully responsible for any LEI number related activity which is connected to the legal entity they are representing. LEI Register 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 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 LEI Register’s website: https://www.leiregister.mt
Table of Contents
1. New LEI, LEI Renewal and LEI Transfer process
2. Multiyear plans and automatic renewals