The LEI service is provided by LEI Register India Private Limited (hereinafter referred to as LEIKART). LEIKART is an LEI Registration Agent.
1. To apply for an LEI code, fill in the application form, submit your data and pay for the service by credit card, debit card, net banking, wallets and demand draft.
2. The applicant agrees that while submitting the form he/she accepts the terms and conditions of LEIKART. The applicant gives all rights to LEIKART to apply for an LEI code on the client’s behalf. The applicant confirms that He/She is signing authority and have the full authority to apply for an LEI on behalf of the Legal Entity.
3. The applicant agrees to give rights to the LEIKART to apply for Legal Entity Identifier (LEI) codes on the client’s behalf and to sign the Rapid LEI Terms of service contract mentioned in https://rapidlei.com/documents/global-lei-system-terms/ .
4. LEIKART will start with the LEI registration process shortly after the client has made the payment. The applicant is aware that he/she may be contacted to supply a Letter of Authorization (Power of attorney) or any other proof that the applicant is authorized to apply for an LEI on behalf of the entity.
5. The LEI code will be issued as soon as possible after the payment has been made. In most cases the LEI code will be issued in 24 hours. However, in some cases, it may take up to a full week. LEI renewal/transfer process can take up to 7 days.
6. If the client has submitted insufficient data, LEIKART will contact the client via e-mail or submitted telephone number.
7. The purchase will be counted as final if the data has been submitted and funds paid.
8. LEIKART has the right to deny the application. In cases of denial, LEIKART will refund client to the amount paid minus the cost to cover the refund fees. Refund fee is 2800 INR.
9. A full refund for LEI renewal will be issued if LEIKart is unable to complete the transfer process from another service provider.
10. For the convenience of customers LEIKART offers a service to prepay renewal fee in advance for 1 year, 3 years or 5 years. If the client has bought LEI renewal service for 3 or 5 years LEIKART will cover the renewal cost for the period bought and renew the company data in GLEIF database every year accordingly with the data provided in public company registry. LEIKART will ask the client an e-mail to confirm the data extracted from the company registry before submitting it for next renewal. If the client does not respond in 5 weekdays, LEIKART will update the data according to public company registry and submit it to GLEIF database through a relevant LOU.
11. Regardless if the client has bought renewal service for 1 year, 3 years or 5 years, LEI data will be updated every year accordingly. Hence the “NEXT RENEWAL DATE” in GLEIF database is always not more than 1 year in the future.
12. 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 and construed in accordance with the law of India.
Each party irrevocably agrees that the courts of India shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this agreement or its subject matter or formation.