TERMS AND CONDITIONS

General conditions

The LEI service (https://admin.legalentityidentifier.in) is provided by LEI Register India Private Limited (LEI number 9845003A5176DAA0E442). LEI Register India Private Limited is an LEI Registration Agent. LEI Register India Private Limited operates in India under the trademark LEIAdmin India. We partner with the Local Operating Unit(s) (LOU) Ubisecure Oy (RapidLEI) LEI: 529900T8BM49AURSDO55.

Our contact details are:

Phone number: 7810907427

Toll free number: 18001203505

[email protected]

LEI Register India Private Limited

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. Signing up for LEIAdmin India

To use the services of LEIAdmin India it is necessary to register an account. LEIAdmin India offers two types of accounts depending on the customers’ needs. 

1.1. The Partner account allows the user to:

  • submit LEI applications, payments and required documents;
  • submit bulk LEI applications;
  • refer customers to register and renew LEIs using a unique referral link, a link to a pre-filled application form or by embedding the application form to their website using an iFrame; 
  • earn payout on each successful application using LEIAdmin India’s referral code;
  • track the status of the LEI applications;
  • add LEIs to LEI Watchlist to have an overview of important LEIs and their expiry dates as well as send reminder e-mails to renew the LEI codes. 

1.2. The Banker account allows the user to:

  • refer customers to register and renew LEIs using a unique referral link, a link to a pre-filled application form or by embedding the application form to their website using an iFrame; 
  • track the status of the customers’ LEI applications;
  • add LEIs to LEI Watchlist to have an overview of important LEIs and their expiry dates and send reminder e-mails to renew the LEI codes.

2. LEI registration, renewal, and transfer process

2.1. To apply for a new LEI code, renew an existing LEI code or transfer an LEI code under LEIAdmin India’s management, the LEIAdmin India user needs to submit their data and pay for the service by Credit card, Debit card, UPI, Net Banking or bank transfer (Razorpay, CCAvenue). Paying based on a monthly invoice is also possible depending on the contract. 

2.2. LEIAdmin India users should only register if they apply for ten or more LEI codes per year.

2.3. The applicant agrees that while submitting the form, they accept the terms and conditions of LEIAdmin India. The applicant confirms that the data submitted is correct and they have full authority to apply for an LEI code on behalf of the legal entity (customer). The applicant knows their contact details can be shared with the Local Operating Unit (LOU). 

2.4. The applicant is aware and agrees to give all rights to LEIAdmin India 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.  

2.5. The applicant gives all rights to LEIAdmin India to manage the LEI of the legal entity on their behalf. For example, a new LEI applicant gives all rights to LEIAdmin India to apply for an LEI code on the legal entity’s behalf. An LEI renewal applicant gives all rights to LEIAdmin India to renew an LEI on the legal entity’s behalf. An LEI transfer applicant gives all rights to LEIAdmin India to transfer an LEI under LEIAdmin India’s management. 

2.6. The applicant acknowledges and agrees that LEIAdmin India may utilize the services of different Local Operating Units (LOUs) for the issuance or renewal of LEIs. Furthermore, the applicant understands that renewing an LEI may involve transferring the LEI from one LOU to another as part of the renewal process, as deemed necessary by LEIAdmin India.

2.7. An LEI transfer applicant is aware that an LEI transfer entails/may entail a change of LOU. If an applicant requests to renew an LEI code through LEIAdmin India but the LEI is not currently managed by LEIAdmin India, the LEI will need to be transferred. The LEI can be transferred before or during the LEI renewal process. LEIAdmin India cannot renew an LEI code that is not under their management. 

2.7.1. To transfer and renew an LEI, the applicant needs to submit the application and payment. Thereafter the applicant is required to sign or have an authorized person of the company/firm sign a Letter of Authorization. Once the requested documents have been submitted, the transfer process starts. The process usually takes 7-10 days. Once the LEI code has been released by the current LEI manager, the LEI code’s status in the GLEIF database is set to PENDING_ARCHIVAL. After releasing the LEI code, it takes about 24 hours for the LEI to be transferred and ISSUED. 

2.8. An LEI managed by LEIAdmin India can be renewed 60 days before it expires. However, if the customer transfers and renews an LEI managed by a service provider different from LEIAdmin India and the “next renewal date” of the LEI is further than 60 days, days from the renewal period of the LEI may be lost.

2.9. LEIAdmin India will start with the LEI registration, renewal, and/or transfer process shortly after receiving the application and payment confirmation. If the customer is invoiced monthly, LEIAdmin India will process the application after receiving the application. 

2.10. 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. 

2.11. The applicant knows they may be contacted to provide additional documents. For example, LEIAdmin India may ask for documents that prove the registration of the legal entity, documents that show the legal entity's authorized representatives, documents that show the creation date of the legal entity, or documents that show when amendments to the legal entity data were made.

2.11.1. Typically the following documents are required: 

  • Private Limited/LLP/Limited company -  CIN & GST
  • Partnership - IEC/GST or Partnership Deed, Udyam Registration Certificate and PAN Card
  • Proprietorship - IEC/GST/Udyam Registration Certificate
  • Trust - Trust Deed/GST/NGO Darpan Certificate/PAN Card
  • Bank - GST and PAN Card
  • NGO- Society, Foundation NGO Darpan Certificate and PAN Card
  • Fund - Board Resolution and Trust Deed and PAN Card

2.12. The applicant is aware that if the legal entity has a direct and/or ultimate parent entity that owns controlling shares (typically >50%) and consolidates the accounts of the child entity, they are required to report parental (level 2) data. If the legal entity has no 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. 

2.12.1. LEIAdmin India can contact the applicant to provide additional documents to verify consolidation.

2.13. 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, LEIAdmin India cannot proceed with the application. The head office's LEI number must be in an ISSUED status.

2.14. The applicant knows that if the legal entity is a fund, LEIAdmin India may request information on fund relationships (fund management entity, umbrella fund of a sub-fund, and/or master fund of a feeder fund).

2.14.1. LEIAdmin India can contact the applicant to provide additional documents to verify the fund relationship(s).

2.14.2. To report a relationship, an LEI is required from the fund management entity, umbrella fund, and master fund. 

2.15. The LEI code will be provided as soon as possible. In 90% of cases, new LEI codes are issued within 30 minutes and a couple of hours. Validating parental and fund relationship data can take up to 48 hours. LEI renewals and transfers can take up to 10 days. If there are issues with data validation, or in rare cases, the processing times can be longer than usual. 

2.16. Once the process has been completed, the applicant will receive a confirmation e-mail. 

2.17. 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 LEIAdmin India has received the transfer application, it cannot be revoked. Once LEIAdmin India 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. 

2.18. The applicant is aware that if they fail to provide any requested information, including all the information requests mentioned above, LEIAdmin India 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, and/or transferred due to the applicant failing to provide the requested information, LEIAdmin India, and the relevant LOU are not responsible for any LEI-related damages. 

2.19. 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. 

2.20. LEIAdmin India 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). 

2.21. 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.

3. Multiyear plans

3.1. For the convenience of customers, LEIAdmin India offers the opportunity to prepay the renewal fee in advance for up to 5 years.

3.1.1. If the customer has bought the LEI renewal service for multiple years, LEIAdmin India will cover the renewal cost for the period bought. 

3.1.2. If the customer has ordered a multiyear renewal of their LEI (e.g., a 5-year LEI) from LEIAdmin India and, during the prepaid period, transfers the LEI to a different service provider, the multiyear contract is automatically canceled.

3.2. 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. 

3.3. LEIAdmin India has the full right to renew the legal entity’s LEI code and update reference data in the GLEIF database through the relevant LOU. 

3.3.1. If the legal entity is registered, LEIAdmin India and the relevant LOU can update the legal entity’s reference data based on the relevant registry. 

3.3.2. If the legal entity’s data cannot be verified against a registry, LEIAdmin India 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. 

3.3.3. The customer agrees to notify LEIAdmin India in case there has been a change in data that cannot be validated from public registries and to provide the relevant updated information. 

3.3.4. LEIAdmin India 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). 

3.3.5. The customer must provide the requested information and/or documents to ensure the LEI is renewed. If the customer does not provide the requested information and/or documents the LEI may not be renewed. LEIAdmin India and the relevant LOU will not be held responsible for any damages. In case the customer fails to provide the required information within 60 days, LEIAdmin India reserves the right to cancel the contract. 

4. LEI certificate

4.1. A digital LEI certificate can be downloaded free of charge in the LEIAdmin India account after the application process has been completed and the LEI data has been published in the GLEIF’s database. 

4.2. LEIAdmin India users will receive free certificates only if they apply for/ renew at least 3 LEI codes in a 6-month timeframe.

5. Fees

5.1. Fees for ordering a new LEI, transferring an LEI, or renewing an LEI can be found here. 

5.1.1. LEIAdmin India may offer different prices to LEIAdmin India users. 

5.2. 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.

5.3. The prices shown are without GST. 18% GST applies under the GST regulations. Please add your GST number under "Edit profile" if you wish to include your GST number in the Tax Invoice. This will help your entity claim input against GST paid.

6. Refund policy

6.1. To apply for a refund, contact [email protected]. Refund and cancellation requests can also be sent to SIXTH FLOOR, CCSG0615, BLOCK G, CITY CENTER SILIGURI, CITY CENTER SILIGURI, Matigara, Siliguri, Darjeeling, West Bengal, 734010.

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. LEIAdmin India has the right to charge a fee of ₹2700 per refund. 

6.4. Customers can request a refund if they do not meet the conditions mentioned in point 6.5.

6.5. LEIAdmin India can deny any refunds if:

6.5.1. The application has been counted as final.

6.5.2. 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.

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

6.5.4. 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 LEIAdmin India, and the “next renewal date” of the LEI is further than 60 days.

6.5.5. 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.

6.5.6. 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 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. 

6.6. The refund period as detailed under the GLEIF RA Governance Framework will be honoured appropriately.

7. Guidelines for referral partners

Marketing outreach and service positioning

The LEI market is significant, with an estimated 99% of organizations yet to obtain an LEI. Partners should engage in fair competition with other partners and LOUs. We suggest avoiding marketing campaigns that target existing LEI renewals from other LOUs. Note that renewal campaigns can inadvertently mislead the customer over which partner/Registration Agent/LOU is currently managing the LEI because renewing is only possible through the LOU managing the LEI.

Customers may need help to legitimately renew their LEI before lapsing, which weakens the LEI ecosystem. Specifically:

  • Marketing campaigns should always adhere to local emailing/outbound calling legislation and privacy regulations like GDPR.
  • Advertising campaigns should not include the name of competing Registration Agents or LOUs within the advertisement copy or the advertising URL.
  • If you offer differentiated service levels based on speed or other differentiators, capture the specifics of the service levels in your Terms and Conditions.

When launching a new LEI offering, working closely with LEI Register marketing on campaign ideas and activities is preferable.

Avoid subjective service comparisons

Subjective comparisons on service levels, solution features, and other areas not pre-approved by all parties are unacceptable to LEI Register or our partner LOU. Comparing publicly disclosed factual data points, such as pricing, may be acceptable if maintained accurately. Still, we do not recommend such tactics to avoid customer confusion and GLEIF complaints.

Use of social media

All members of the LEI ecosystem monitor social media for LEI-related posts and conversations. The GLEIF publishes social media reports to all LOUs. When using social media, partners should not refer to themselves as an LEI Issuer or LOU (Legal Operating Unit), not claim to be accredited by the GLEIF. Fully accredited LOUs may only make these statements.

We encourage using social media to amplify new LEI use case messages, reports, and collateral published by the GLEIF and LOUs, and to propagate the positive impact LEIs are making on the economy.

Use of logos, trademarks

The client hereby grants LEIAdmin India and LEI Register the right to use the name and service marks of the client in its marketing materials or other oral, electronic, or written promotions, which shall include naming the client as a client of LEIAdmin India or LEI Register and a brief scope of services provided. In addition, the client hereby grants LEIAdmin India the right to display its logo (or other identifying information) and a hyperlink to LEIAdmin India or LEI Register websites. Either party may elect to issue a press release related to their partnership. In doing so, any release shall be approved by the other party, and such approval shall not be unreasonably withheld.

The use of the GLEIF logos and “official” status is highly restricted. Registration Agents may only display the GLEIF logo and may only refer to themselves as “official” under an active GLEIF license. Reference to being “official” must also be accompanied by the GLEIF logo.

Trademarks belonging to other legal entities must not be infringed. Wilful infringement may cause the cancellation of the partner or Registration Agent agreement. We also request that partners refrain from causing market confusion by including the legal names, brand names, or Trademarks of other LEI Register partners or competing LOUs in advertising, i.e., Google Ads.

All LEIAdmin (admin.legalentityidentifier.in) users must follow the guidelines in paragraph 8 in the “Terms and Conditions”.

8. LEI Reseller Terms

8.1. Preconditions for LEI Reselling: Before publicly marketing LEI services, the user must reach out to a LEIAdmin member for guidance on reselling LEIs. The guidelines include, but are not limited to: “Registration Agents Governance Framework 1.0” and “Implementing the GLEIF Registration Agent Governance Framework (RAGF).

8.2. Guideline Adherence: Upon receiving and understanding the provided guidelines, the user is required to share their domains and marketing materials with their designated LEIAdmin contact for a thorough review and approval.

8.3. Agreement Formalization: Upon successful review and approval, LEIAdmin will furnish the user with an “LEI Reseller Agreement”, enabling them to publicly offer LEI services.

8.4. Approval Process Completion: Following completion of the three-step process and subsequent approval by LEIAdmin, the user may proceed with the public offering of LEI services.

8.5. Compliance Enforcement: Users failing to adhere to the stipulated guidelines, “Terms & Conditions”, or the “LEI Reseller Agreement” prior to publicizing LEI codes will have restricted access to LEIAdmin services.

9. LEI referral program 

9.1. The referral commissions can be found here.

9.2. When the invitee renews their LEI in the following years, 50% of the original commission is paid.

9.3. Referral commissions are paid out once a month. 

9.3.1. The commissions can be paid out after at least three successful referrals.

9.4. Referrals can’t be added to an account if the referrable client hasn’t used the referral link or iFrame solution provided.

10. Governing law

10.1 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 connected to the legal entity they represent. LEIAdmin India is not responsible in any way for possible damage related to LEIs.

LEIAdmin India 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 any time. A document outlining the current Terms and Conditions can always be found on LEIAdmin India’s website: https://admin.legalentityidentifier.in