FAQ
FAQ provides you answers to frequently asked questions about LEI code, LEI registration and LEI Renewal. This FAQ tries to provide answers to all the questions commonly asked by our customers. However, if your question is not answer here, you are welcome to direct the question to us directly at info@leicertificate.org and we will respond within record time.
For any enquiries concerning our LEI registration service here at LEI Certificate, we refer you to LEI Register™. For enquiries about the Price of our services, we refer you to our LEI price list.
What is LEI code?
‘LEI’ is short for Legal Entity Identifier. A Legal entity identifier code is a unique 20-character alphanumeric code that is used as a mode of identification for companies and other legal entities who are actively involved in the securities and financial market.
Who needs an LEI code?
LEI code is needed by all legal entities that are engaged in trading securities.
Why is an LEI number required?
LEI is required to make it easier to identify legal entities that are active in the securities market. Relevant authorities have made LEI number not just an optional requirement but a mandatory one. With a unique LEI code assigned to each legal entity, it is easier to trace transactions to one or more legal entities. The requirement for LEI is pro-transparency.
The purpose of the LEI requirement is to make it easier to keep track of transactions in the financial market thus, making the market as transparent as possible.
Is an LEI code public?
Since the Legal Entity Identification system is not some sort of secret monitoring, the LEI code and every other information connected to it is accessible to the public. That is the whole purpose of the system; to maintain high-level transparency in financial transactions. If the code and other relevant information are kept secret, it won’t be wrong to say that the purpose of the code and the entire system has been defeated. Thus, every relevant information can be found in the GLEIF database.
How do I register an LEI number?
With the right information, registering LEI is a no-brainer. You can register through a service provider connected to a Local Operating Unit(LOU). Here at LEI Certificate, we give you the best prices. If you want to register or renew your LEI number, you are welcome to contact us.
What does LEI cost?
There are no fixed prices because each service provider has its price schedule. At LEI Certificate, the following prices apply:
LEI 1 year: 99A$(99A$/year)
LEI 3 years: 267A$(89A$/year)
LEI 5 years: 375A$(75A$/year)
VAT charges are not included in these prices but, every other fee is included.
What is the validity period of an LEI?
An LEI code is valid for one year after which you are required to renew it. However, if you registered for several years, your LEI service sees to the renewal of the code annually.
Can I control the validity of my Legal Entity Identifier?
Yes. You can do this by searching the name of your company or your Legal Entity Identifier in the GLEIF database.
How do I renew my LEI code?
Service providers help you to renew your LEI. LEI Certificate is one of such service providers and you can renew your LEI number for as much as 5 years.
What’s the price for LEI renewal?
At LEI Certificate, the prices for registration and Renewal of LEI are the same. You can renew LEI for as cheap as 75A$/year.
How does multiple-year renewal work?
You can choose to renew your LEI for more than one year. If you decide to do so, the duty falls on your service provider to ensure that your LEI is automatically renewed annually. This is also a cheaper alternative to annual renewal. If you choose multiple-year renewal, you will pay for several years (3 years or 5 years) all at once. Then, you sit back and enjoy our services without having to worry about annual renewal.
Which payment methods are accepted?
The payment methods available to our clients include the following:
- VISA
- Mastercard
- American Express
- PayPal
Can I transfer my LEI code to another service provider?
If you are dissatisfied with your current service provider or for some other reason you desire to transfer, you can have a smooth transfer. Even if your LEI code is registered with another service provider, you can still renew your code through us here at LEI Certificate. The process is simple and straightforward. All you need to do is to transfer your LEI code to us. The transfer process will be completed in 7 days or even less. This process is completely free of charge. No extra charges. Contact us today for your LEI transfer.