VERSION JULY 3, 2025
Introduction
These Terms and Conditions applies to agreements regarding vLEI between Global vLEI AB (“Global vLEI”), a Qualified vLEI Issuer, and you, the legal entity applying for vLEI and subscribing to vLEI services (the “Legal Entity”/”you”).
1. Service delivery
Global vLEI AB provides vLEI Services.
By agreeing to these Terms and Conditions, you acknowledge that Global vLEI processes any personal data as set out in the Global vLEI communication and privacy policy www.globalvlei.com (the ‘Communication Policy’). The Communication Policy covers how Global vLEI manages and uses personal data as well as how personal integrity is protected when using the Services. Legal Entity Official Organizational Role vLEI Credentials may be issued by Global vLEI to issue its Legal Entity vLEI Credential.
2. Obligations of the Legal Entity
The Legal Entity is obliged to supply true, full and authentic information when applying for vLEI.
The individual(s) acting for the Legal Entity, will be obliged to warrant and attestate the authority of the Designated Authorized Representative(s) executing the agreement with Global vLEI on behalf of the Legal Entity. Prior to the issuance of any Legal Entity Official Organizational Role vLEI Credentials, that a Designated Authorized Representative (DAR) of the Legal Entity must designate Legal Entity Authorized Representatives (LARs) of the Legal Entity that have the authority to request the issuance and revocation of the Legal Entity vLEI Credential and the Legal Entity Official Organizational Role vLEI Credentials. The DAR of the Legal Entity also will be required to designate and maintain at least three (3) LARs.
The Legal Entity acknowledges and accepts that data regarding issuance of Legal Entity vLEI Credentials and Legal Entity Official Organizational Role vLEI Credentials shall be accessed by GLEIF for publication on the LEI page of the Legal Entity on gleif.org and for updates for revoked Credentials and for monitoring credential registry service levels. Further, the Legal Entity acknowledges and accepts the requirement for LARs of the Legal Entity to obtain consent from an OOR Person for their name and OOR to be published on the on the LEI page of the Legal Entity on gleif.org and to confirm to Global vLEI that this consent has been obtained.
The Legal Entity is obliged to request revocation of the Legal Entity vLEI by its former Qualified vLEI Issuer once the Legal Entity received its Legal Entity vLEI Credential and newly issued vLEI Role Credentials from Global vLEI.
The Legal Entity acknowledges and accepts that Legal Entity Official Organizational Role vLEI Credentials may be issued by Global vLEI being contracted to issue its Legal Entity vLEI Credential.
The Legal Entity is obliged to ensure that the LAR(s) of the Legal Entity is required (i) to issue a QVI AUTH vLEI Credential for the issuance of each OOR vLEI Credentials (and ECR vLEI Credentials, if the Legal Entity has contracted with Global vLEI for the issuance of ECR vLEI Credentials). The terms of the QVI AUTH vLEI Credential include confirmation that the Legal Entity has obtained consent from an Official Organizational Role Person (OOR Person) for their name and OOR to be published on the on the LEI page of the Legal Entity on gleif.org. The Legal Entity ECR vLEI Credential may be issued upon receipt by the QVI of a QVI AUTH vLEI Credential for the issuance of a ECR vLEI Credential from the LAR(s) of the Legal Entity using the GLEIF-supplied vLEI software, and (ii) to revoke the QVI AUTH vLEI Credentials issued to authorize each OOR vLEI Credentials (and ECR vLEI Credentials, if the Legal Entity has contracted with the QVI for the issuance of ECR vLEI Credentials) to direct the QVI to revoke OOR vLEI Credentials (and ECR vLEI Credentials).
The Legal Entity acknowledges that GLEIF reserves the right to coordinate with the Legal Entity’s DAR should the Qualification Agreement between Global vLEI and GLEIF be terminated, which includes the requirement for the Legal Entity to contract with a new Qualified vLEI Issuer to ensure continued use of vLEI Credentials. To support the above coordination the Legal Entity acknowledges and accepts, a requirement for the Legal Entity to provide names, titles and email address contact details for its current DAR to be forwarded to GLEIF by Global vLEI.
The Legal Entity acknowledges that only one single LEI may be requested for a legal entity and subsequently be used to issue its Legal Entity vLEI Credential, i.e., prohibition to request a second LEI at either the same LEI Issuer or any other local operating unit (LOU).
The Legal Entity is obliged to review the LEI reference data of its LEI and to verify its accuracy, in accordance with the requirements for LEI renewal, specifically, the Legal Entity’s LEI must maintain an entity status of Active and an LEI registration status other than Lapsed, Retired, Duplicate, Annulled or Merged.
The Legal Entity is obliged to submit promptly any changes regarding any aspect having an actual or potential influence on the LEI and/or its reference data.
The Legal Entity will respect and comply with data protection legislation as applicable and in force.
The Legal Entity hereby fully and irrevocably transfers (or, if not legally possible under applicable legislation, revocably license) to Global vLEI any and all rights to any part of the vLEI Role Credentials that might enjoy copyrights, or any other intellectual property, data protection or other protective rights of whatever type, extent, and legal nature, with the sole exception of the protective rights of the Legal Entity in its legal name and the natural person’s rights. Global vLEI shall not make any inappropriate use of the rights transferred to it. The sole reason and purpose for the transfer above to Global vLEI is to ensure that LEIs and vLEI Role Credentials may be freely and unrestrictedly transferred to the Global LEI Repository, made available for use by anybody, such as download from that source and use.
3. Pricing and invoicing
The fees for Global vLEI’s vLEI subscriptions and services are provided by Global vLEI in the Global vLEI fee schedule and will be payable immediately after you have registered an order.
Payment may be made in the offered currency at the time of the order. For the avoidance of doubt, full payment is defined as net amount remitted to Global vLEI after any taxes, sender’s bank fees, FX commissions, and interbank service charges. Global vLEI will keep an unpaid order open until payment is received or it expires after non-payment. In case of Global vLEI not having received full payment according to the order confirmation in a prompt manner, Global vLEI reserves the right to remove the order.
Global vLEI will apply VAT as deemed appropriate, in line with Swedish VAT rules for the provision of services within Sweden, to EU member states and to the rest of the world. Global vLEI will not provide any additional tax certificates, VAT enquiries or similar.
All order confirmations and receipts will be sent by Global vLEI as PDF documents via email. Receipts will contain the billing data and billing recipient that you have registered in Global vLEI’s internet portal. The Legal Entity accepts the use of electronic transmission of order confirmations and receipts.
All fees and charges specified in the fee schedule may annually be subject to review by Global vLEI, at which point Global vLEI may increase or amend any such fees.
Global vLEI will not charge the Legal Entity for the re-issuance of credentials resulting from key compromise recovery by Global vLEI.
4. Obligations of Global vLEI
Global vLEI is prohibited from transferring on its own initiative the Legal Entity’s Legal Entity vLEI Credential and the Legal Entity Official Organization Role vLEI Credentials to any other Qualified vLEI Issuer.
5. Term & termination
The agreement governed by these Terms and Conditions remains in force until terminated by either the Legal Entity or Global vLEI according to this section below.
Termination with immediate effect shall be possible in the event of
(i) the Legal Entity ceases to exist or operate and the LEI of the Legal Entity is retired,
(ii) the LEI of the Legal Entity lapses due to non-compliance of the Legal Entity subject to requirements established by GLEIF to renew its LEI and validate its LEI reference data;
Termination with immediate effect for cause in the event of severe or repeated violation of contractual duties, for which no cure is possible, or cure has been refused or not done within a reasonable cure period after written notice setting out the reasonable cure period, normally not longer than 10 days.
Termination with immediate effect by Global vLEI, and without any liability of Global vLEI for any damages caused by such termination, in the event that the vLEI Issuer Qualification Agreement of Global vLEI with GLEIF is terminated.
Notice of termination shall be submitted in writing by the terminating party and shall be effective upon receipt by the non-terminating party.
Further the Legal Entity may terminate its agreement with Global vLEI (and contract with a new Qualified vLEI Issuer) at any time by to giving Global vLEI [three months] written notice.
The Legal Entity may terminate its agreement with a Qualified vLEI Issuer and contract with a new Qualified vLEI Issuer at any time in accordance with the terms of their contract with the Qualified vLEI Issuer. The Legal Entity is required to request revocation of the Legal Entity vLEI Credential issued by its former Qualified vLEI Issuer (which will result in all chained vLEI Role Credentials also to be revoked) once the Legal Entity received its Legal Entity vLEI Credential and newly issued vLEI Role Credentials from its new Qualified vLEI Issuer.
6. Contractual language
These Terms and Conditions, together with any appendices hereto, shall be deemed executed in the English language. In case of any difference in meaning between the English language original version and any translation thereof, the English language original version shall be applicable. Any notices under these Terms and Conditions shall be made in the language of English.
7. Jurisdiction
The vLEI services provided by Global vLEI and these Terms and Conditions are governed by the laws of Sweden and any legal proceedings will be exclusively undertaken in the courts of Sweden.