Terms and Conditions
Valid from 04 March 2019
Baltic LEI OÜ is registered in Estonia and operates as an LEI Registration Agent in the Northern and Eastern Europe. We operate in United Kingdom under the trademark BritishLEI.
1. The procedure for applying for an LEI number
1.1. If a client of Baltic LEI OÜ (BLEI) would like to order an LEI for his/her company or to renew an existing LEI, the client needs to fill in the application on the BritishLEI website www.britishlei.co.uk.
1.3. After submitting the application, BLEI will send the client an email containing the application and a Power of Attorney for signing.
1.4. The client needs to sign the Power of Attorney using e-signature or by printing it, manually signing it and returning it to us via email: firstname.lastname@example.org. The effect of signing the Power of Attorney is that the client authorises BLEI to order an LEI and/or renew the company LEI. The client also confirms that he/she is authorised to give third party authorisation to BLEI to order or renew LEI for his company by signing the Power of Attorney.
1.5. After BLEI has received the signed Power of Attorney and payment for the service, BLEI will start to process the client’s application to receive or renew an LEI.
1.6. If there are any inconsistencies in the data provided by the client, or if some information is missing, BLEI may contact the client by email or by phone.
1.7. After successful allocation of an LEI, BLEI will send the LEI to the client’s email. The client can check the validity of his LEI from the global GLEIF webpage.
1.8. If a client orders a multi-year contract for their LEI (eg. a 3-year LEI), the LEI will be initially issued for 1 year and BLEI will automatically renew this LEI for the 2 following years. When the multi-year product is due to expire, BLEI will inform the legal entity by email.
1.9. If the client has submitted an application for an LEI, or ordered an LEI renewal, and the client has signed the Power of Attorney, then the decision is considered to be final and it is not possible for the client to revoke the application. In addition, if a client orders a multi-year renewal for their LEI (eg. a 5-year LEI) and discovers after 3 years that he does not need an active LEI anymore or would like to transfer their LEI to another LEI service provider, then transfer is possible, but the multi-year contract will be automatically cancelled and client is not eligible for any refund.
1.10. BLEI reserves the right to decline a client’s LEI application and, in this case, the client will not be charged.
2. Fees and prices
2.1. Products and prices for the initial LEI application:
1-year LEI – LEI registration with 1-year LEI validity – 75£ (75£ / year)
3-year LEI – LEI registration with 1-year LEI validity + 2 annual renewals – 195£ (65£ / year)
5-year LEI – LEI registration with 1-year LEI validity + 4 annual renewals – 275£ (55£ / year)
*Prices are subject to VAT.
2.2. Products and prices for LEI renewal packages:
1-year renewal – LEI renewal for 1 year – 59£ (59£ / year)
3-year renewal – LEI renewal for 1 year + 2 annual renewals – 165£ (55£ / year)
5-year renewal – LEI renewal for 1 year + 4 annual renewals – 245£ (49£ / year)
*Prices are subject to VAT.
2.3. If the client would like to order more than 10 LEIs, BLEI may offer the client an alternative rate for their services.
2.4. There is no fee payable for LEI code administration.
2.5. Clients can pay for their LEI via regular bank wire.
2.6. Payments will be accepted in the following currencies: GBP, NOK, SEK or EUR.
3. Final conditions
3.1. BLEI operates as an LEI registration agent in the name of the client and cooperates with GLEIF (Global Legal Entity Identifier Foundation) accredited Local Operating Unit’s (LOU’s) to order or renew LEIs for clients. BLEI is not legally affiliated with any LOU and may use different LOU’s depending on the prevailing conditions within the market.
3.2. BLEI reserves the right to make changes to its Terms and Conditions at any time. A document outlining the current Terms and Conditions can be always found on the BritishLEI website: www.britishlei.co.uk.
3.3. BLEI can not guarantee the successful allocation of an Legal Entity Identifier for any client. BLEI will make all reasonable efforts to obtain an LEI for the client.
3.4. The client is obligated to use BLEI services in a good faith and BLEI acts accordingly. The relationship between the client and BLEI are regulated by Estonian law and the client and BLEI should first attempt to resolve all disputes via negotiation. In circumstances where no agreement can be made, disputes will be settled in an Estonian court.
3.5. The client is fully responsible for any LEI number related activity which is connected with the company that he/she is representing. BLEI is not responsible in any way for possible damage related to LEIs.