TERMS AND CONDITIONS

General 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. We partner with the Local Operating Unit (LOU) Ubisecure Oy (RapidLEI) (LEI number 529900T8BM49AURSDO55).

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 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 managed by LEI Register can be renewed a maximum of 60 days before it expires. However, if the customer transfers and renews an LEI managed by a service provider different from 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, or transfer process shortly after receiving the application and payment confirmation. 

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. 

1.8.1. The applicant knows that only the designated signatories can sign the Letter of Authorisation under their respective identities. Impersonating an authorised signatory is prohibited, constituting identity fraud.

1.9. The applicant knows 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 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. Suppose the legal entity has no parent companies or cannot report them. In that case, 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 knows that if the legal entity is an international branch, they must 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 knows 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, 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 1-3 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 email with the invoice to the contact email provided in the LEI application. 

1.15. The applicant is aware and agrees that the application is considered final once they have submitted the application and accepted the terms and conditions. Once LEI Register has received the transfer application, it cannot be revoked. Once LEI Register has received payment confirmation 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 not publishing the fund relationship data. However, if the LEI cannot be issued, renewed, or transferred due to the applicant failing to provide the requested information, LEI Register and the relevant LOU are not responsible for any damages. 

1.17. The applicant knows that once an LEI code has been issued, the LEI and the legal entity’s LEI-related reference data will be published on the GLEIF’s and LEI Register’s websites. Once an LEI has been issued, it cannot be deleted or transferred to a different legal entity. 

1.18. LEI Register will email the contact email 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 canceled.

2.2. Regardless of whether 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 one year can opt to have their LEI renewed automatically annually. 

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 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 five days, LEI Register will start the renewal process. Once the renewal process has been completed, the customer will receive a confirmation email 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 can 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 reasonably try renewing 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 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 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) or fund relationship data. The Fast-track checkbox will be presented on the checkout page if the customer qualifies for Fast-track. 

3.2. If the Fast-track checkbox is not shown on the checkout page, 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 this website's “LEI certificate/tag” section

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 not to send a new hard copy if the customer has provided incorrect data or 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 in this webpage's “LEI cost” section. 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 the EU OSS scheme. VAT is 0% in case of a valid EU VAT number. The 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 this website's “LEI certificate & tag” section.

6. Refund policy

6.1 To apply for a refund, contact [email protected]. Refund and cancellation requests can also be sent to Uus 21-2, 10111, Tallinn, Estonia.

6.2 Refunds will be issued within seven 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 fee of 30€ per refund. 

6.4. The customer can request a refund if they do not meet 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 no longer need an active LEI.

6.5.4. The customer transfers the LEI to a different service provider before their pre-paid renewal period ends. 

6.5.5. Days from the renewal period of the LEI are lost because the customer transfers and renews an LEI managed by a service provider different from 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 due to the customer failing to provide the required information in 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 provide incorrect data. 

6.6. The refund period, as detailed under the GLEIF Registration Agent Governance Framework, will be honored 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 under the law of England and Wales.

Final conditions

The customer is fully responsible for any LEI number-related activity connected to the legal entity they represent. LEI Register is not responsible in any way for possible damage related to LEIs.

LEI Register operates as an LEI Registration Agent in the customer's name and co-operates with the GLEIF-accredited LOUs to order, renew, transfer, and update LEIs for their customers.

LEI Register reserves the right to change its Terms and Conditions at anytime. A document outlining the current Terms and Conditions can always be found on LEI Register’s website: https://www.leiregister.mt