These Terms and Conditions outline the regulatory framework, obligations, and rights associated with the use of LEI registration, renewal, and management services provided by LEI System OU.
1. Contracting party
LEI System OU, a private limited company incorporated in Estonia, shall be the contracting party providing services under the LEI System trademark. In cases where no local subsidiary of LEI System exists within the customer’s country of residence, LEI System OU (LEI number 984500908J38713A7650) will operate as the default legal entity. LEI System functions as an LEI Registration Agent and maintains cooperation with the officially accredited Local Operating Unit (LOU), Ubisecure Oy (trading as RapidLEI), which holds LEI: 529900T8BM49AURSDO55.
2. Requesting and Managing LEIs
2.1. The client may submit a request to obtain, renew, or transfer a Legal Entity Identifier by filling out the relevant online form and completing payment using an accepted method such as credit card or PayPal.
2.2. By submitting the application, the client acknowledges and agrees to these Terms and Conditions and affirms that all provided data is accurate. The applicant certifies that they are authorized to act on behalf of the legal entity in question. Certain contact details may be shared with the LOU to support validation.
2.3. The client authorizes LEI System to agree to the LOU’s terms and conditions (e.g., those of RapidLEI) on their behalf. All LOU agreements are based on GLEIF guidelines and are substantively similar. For example, the terms of service of RapidLEI can be found here.
2.4. LEI System is granted authority to act on behalf of the client’s legal entity in matters relating to the LEI, including its issuance, annual renewal, and transfer.
2.5. When an LEI is being transferred from another provider to LEI System, the change of LOU may be necessary. A transfer must occur prior to or simultaneously with renewal.
2.6. LEIs under LEI System’s administration are eligible for renewal up to 60 days before the expiry date. In situations involving early renewal after a transfer from a different service provider, there may be a reduction in the validity period.
2.7. Processing will commence once both the application and payment have been received.
2.8. LEI System may request documentation that confirms the applicant’s authority, including but not limited to a Power of Attorney.
2.8.1. Authorizations must be signed exclusively by persons officially empowered to represent the legal entity. Impersonation or misrepresentation of signatory authority is strictly forbidden.
2.9. Additional documentation may be requested for verification purposes, including:
• a copy of the entity’s registration certificate
• identification of authorized representatives
• proof of incorporation date
• documentation supporting amendments made to corporate records
2.10. If the entity is owned or controlled by a parent company which prepares consolidated financial statements, Level 2 (parental) data must be submitted. If reporting is not possible, a valid reason must be provided.
2.10.1. Documentation confirming consolidation status may be requested by LEI System.
2.11. International branches are required to provide the LEI of the head office, which must be active (ISSUED status).
2.12. Entities classified as investment or umbrella funds may be asked to disclose fund relationships, including fund manager, umbrella structure, and/or feeder-master relationships.
2.12.1. Relevant documents to support such relationships may be requested.
2.12.2. LEIs must be provided for each related entity referenced.
2.13. Most LEI registrations are completed within 1–3 hours. However, applications involving parent or fund relationships may require up to 48 hours. LEI renewals and transfers may take up to 7 days. Incomplete or incorrect data may lead to delays.
2.14. Upon successful completion of the application, a confirmation and invoice will be sent to the email address provided in the checkout.
2.15. Applications become binding and irrevocable upon submission and payment. This applies to both initial registrations and renewals, including transfers.
2.16. If the client fails to submit required documentation, LEI System and its partner LOU may proceed using publicly available information. LEIs that cannot be processed due to missing data will not be refunded, and no liability is assumed for consequences resulting therefrom.
2.17. Once issued, the LEI and associated reference data become publicly accessible on the websites of GLEIF and LEI System. LEIs are permanent and cannot be reassigned or removed.
2.18. LEI System will notify the client via email 60 days prior to the scheduled renewal date.
3. Multiyear plans and automatic renewals
3.1. Clients may choose to prepay their LEI renewals for a duration of up to five years.
3.2. Despite multiyear prepayment, LEI data will still be updated annually as required by GLEIF. The official “next renewal date” is based on a 365-day cycle from the last confirmed renewal.
3.3. If an LEI covered by a multiyear contract is transferred to another service provider, the agreement with LEI System is considered terminated, and no reimbursement will be issued.
3.4. Clients may enable automatic renewal. Payment for such renewals is processed 60 days prior to the expiration date using the originally provided payment method.
3.5. Notification of automatic renewal will be sent to the registered email. The client has five calendar days to cancel or amend details. Once renewal begins, it cannot be reversed.
3.6. LEI System reserves the right to update reference data using registry sources.
3.6.1. If official registries are not accessible, existing reference data may be used for renewal.
3.6.2. Where verification fails, parental or fund relationships may be flagged as non-public.
3.6.3. Clients are responsible for notifying LEI System of any changes not captured by registries.
3.6.4. LEI System may request additional supporting documentation including updated financials, new authorization letters, or exception declarations.
3.6.5. If required documentation is not provided within 60 days, the LEI may not be renewed and the service agreement may be terminated.
4. LEI certificate & tag
4.1. A digital and/or printed LEI certificate may be added to the order at checkout or requested afterwards using the LEI lookup feature.
4.2. Hard-copy certificates are dispatched within 7 business days to the legal entity’s registered address.
4.3. LEI System is not obliged to reissue printed certificates in cases where delivery fails due to incorrect address information or refusal to accept delivery.
5. Service Fees and Taxation
5.1. Prices for LEI-related services including registration, renewal, and transfer are published on the LEI System website and include applicable GLEIF surcharges.
Fees to order a new LEI, transfer an LEI, or renew an LEI can be found here.
5.2. VAT handling:
• Estonian clients: 22% VAT applies. From July 1, 2025, the VAT rate will increase to 24% and pricing will adjust accordingly.
• EU-based clients with a valid VAT number: no VAT will be added (reverse charge applies).
• Clients outside the EU: no VAT is charged.
5.3. Automatic renewals will be charged based on the active pricing published at the time of processing.
6. Refund Policy
6. Refunds and Cancellations
6.1. Refund requests must be submitted to info@leisystem.com and will be reviewed within 7 business days.
6.2. Refunds are processed through the original payment method and may take up to 30 days to appear, depending on the banking institution.
6.3. A refund processing fee of €40 is applicable.
6.4. Refunds are not available in the following scenarios:
• The LEI has already been issued or renewed.
• Automatic renewal has been completed.
• A multiyear contract has been cancelled prematurely.
• The LEI transfer caused loss of validity period.
• The client failed to provide required information within 60 days.
• Parental data was submitted but later invalidated.
• Physical certificate delivery failed due to client error.
6.5. All refund handling is subject to the GLEIF RA Governance Framework.
7. Third-Party Services and Marketing Partners
7.1. LEI System may outsource certain support services to specialized third-party vendors. This may include:
• hosting and maintenance of online platforms
• secure payment handling
• communication services (e.g., email, notifications)
• customer feedback collection tools
7.2. These vendors may access client data strictly as needed to deliver their services, under confidentiality and data protection agreements.
7.3. Contact data (business name, representative, email, etc.) may be shared with selected marketing partners offering services relevant to the client.
7.4. Third-party providers may contact clients directly regarding their services if related to LEI System operations.
7.5. All third-party engagements are subject to privacy standards equal to or higher than those set by LEI System.
7.6. By using the services of LEI System, the client consents to the above arrangements.
8. Legal Jurisdiction and Final Provisions
8.1. The client remains solely responsible for all actions and obligations connected to the LEI of their legal entity.
8.2. LEI System assumes no responsibility for any financial or regulatory consequences resulting from LEI processing delays or failures.
8.3. These Terms and Conditions may be updated without notice. The latest version is always available on leisystem.com.
8.4. This agreement and any dispute or claim arising out of or in connection with it, including non-contractual disputes or claims, shall be governed by and construed in accordance with the laws of the Republic of Estonia. The courts of the Republic of Estonia shall have exclusive jurisdiction to settle any such dispute or claim.
