Terms and Conditions (Master Service Agreement) for LEI Services
1. Scope
These Terms and Conditions (hereinafter referred to as the "Agreement") govern the provision of Legal Entity Identifier (LEI) services by LEI International Private Limited, an Indian private limited company registered under the Companies Act, 1956, having its registered office at:
TNV House, B-1/19/69, Sector-K, Aliganj, Lucknow - 226024, Uttar Pradesh, India,
CIN: U85100UP2007PTC033380,
LEI Code: 984500ID493BDCR4B368
(hereinafter referred to as "TNV-LEI" or the "LOU").
TNV-LEI is an Accredited Local Operating Unit (LOU) under the Global Legal Entity Identifier Foundation (GLEIF), authorized to issue and manage LEIs in accordance with the standards defined under ISO 17442, the GLEIF Master Agreement, and applicable guidelines issued by the Legal Entity Identifier Regulatory Oversight Committee (LEI ROC).
Legal Basis:
These Terms are issued in accordance with the Global LEI System (GLEIS), governed by the GLEIF Master Agreement and overseen by the LEI Regulatory Oversight Committee (LEI ROC), and reflect the obligations of TNV-LEI as a LOU adhering to the GLEIF Accreditation Framework.
GLEIF Master Agreement and ROC Charter are publicly available at www.gleif.org.
These Terms shall apply to:
Legal Entities seeking LEI registration, renewal, transfer, or updates through TNV-LEI
Authorized Applicants or Users acting on behalf of Legal Entities under an accepted Power of Attorney
Client Agents or Corporate Representatives approved by TNV-LEI
Any third party engaged in the application, renewal, transfer, or management of LEIs via TNV-LEI’s official portal www.tnvlei.com
TNV-LEI provides its services via an online interface and associated support channels and reserves the right to update, enhance, or suspend its LEI services in accordance with applicable law, GLEIF directives, and business needs.
1.1 Global Service Availability and Limitations
TNV-LEI's website is accessible globally for informational purposes. However:
LEI issuance services are only available in GLEIF-approved jurisdictions
Service availability in any jurisdiction is subject to GLEIF authorization
TNV-LEI reserves the right to refuse service based on:
GLEIF restrictions
Sanctions or regulatory prohibitions
Internal risk assessment
Technical or operational limitations
By accessing this website or using our services from any location, you acknowledge that:
Services may not be available in your jurisdiction
You are responsible for compliance with your local laws
Indian law and jurisdiction apply regardless of your location
1.1.1 Service Delivery Location
All LEI services are delivered electronically from India. The provision or accessibility of services does not constitute:
TNV-LEI's presence in any jurisdiction outside India
Establishment of any local office or agency
Submission to any non-Indian regulatory authority (except GLEIF)
1.1.2 Sanctions and Compliance
TNV-LEI complies with applicable international sanctions and will not provide services to:
Entities on OFAC, UN, EU, or other sanctions lists
Jurisdictions subject to comprehensive sanctions
Entities where provision of service would violate Indian law or GLEIF policies
1.1.3 GLEIF Jurisdiction Verification
TNV-LEI only processes LEI applications for GLEIF-approved jurisdictions
Users are advised to verify jurisdiction approval status at www.gleif.org
Submission of application does not guarantee service if jurisdiction is not approved
TNV-LEI reserves the right to reject applications from non-approved jurisdictions
If an application is rejected solely due to jurisdiction restrictions, the service fee will be refunded
Bank charges, transaction fees, and currency conversion costs incurred during refund processing shall be borne by the applicant
2. Definitions
For the purpose of these Terms and Conditions, the following terms shall have the meanings assigned below. Any term not defined herein shall be interpreted in accordance with applicable GLEIF policies, ISO 17442, or common industry usage.
2.1 Legal Entity
Any organization or person eligible to obtain a Legal Entity Identifier (LEI) in accordance with ISO 17442 and GLEIF policies, including incorporated companies, trusts, partnerships, government bodies, and associations.
2.2 Applicant
The person or entity submitting an LEI registration, renewal, update, or transfer request. May be the Legal Entity itself or an Authorized Representative acting on its behalf with proper authorization.
2.3 Authorized User / Authorized Representative
Any person authorized by a Legal Entity to act on its behalf for LEI-related purposes, including Directors, Employees, Partners, Client Agents, or PoA holders. TNV-LEI may require documentation for verification.
2.4 Client Agent
A party recognized by TNV-LEI to act on behalf of multiple Legal Entities or Corporate Clients for bulk LEI-related services, subject to compliance with TNV-LEI procedures.
2.5 Corporate Representative
An individual appointed by one or more related Legal Entities within the same corporate group to act on their behalf for LEI-related services. Must be a full-time employee with authorization documents.
2.6 GLEIF
Global Legal Entity Identifier Foundation, a non-profit based in Basel, Switzerland, overseeing GLEIS and accrediting LOUs.
2.7 LEI (Legal Entity Identifier)
A 20-character alphanumeric code uniquely identifying a Legal Entity in financial transactions, issued under ISO 17442.
2.8 LEI Services
All the Services provided by TNV-LEI, including issuance, renewal, data updates, transfers, subscriptions, and support for LEI-related queries.
2.9 Multi-Year Registration
Prepaid LEI service exceeding one year (e.g., 2-year, 3-year, or 5-year), subject to annual validation per GLEIF policy.
2.10 Subscription Registration
Automatic renewal service for LEIs, with annual billing and validation until terminated by the Legal Entity or its representative.
2.11 Transfer
The formal movement of an LEI record from one LOU to another, initiated as per GLEIF transfer procedures.
2.12 TNV-LEI
Refers to LEI International Private Limited, an accredited Indian LOU under the GLEIF Accreditation Framework.
2.13 PoA (Power of Attorney)
A legal document authorizing an individual or entity to act on behalf of a Legal Entity for LEI services. TNV-LEI reserves the right to reject insufficient PoA documents.
2.14 Challenge
A formal request to correct or update Legal Entity Reference Data (LE-RD) associated with an LEI, per GLEIF data quality rules.
2.15 LE-RD (Legal Entity Reference Data)
The data linked to an LEI, including the legal name, address, registration authority and number, and relationship details, published in the GLEIS.
2.16 Governing Law
The applicable laws of India shall govern this Agreement, subject to jurisdiction of courts in Lucknow, unless resolved through arbitration.
3. LEI Services Offered
TNV-LEI provides a comprehensive suite of Legal Entity Identifier (LEI) services in accordance with ISO 17442 and the policies established by the Global Legal Entity Identifier Foundation (GLEIF). These services are delivered through the official TNV-LEI portal at www.tnvlei.com and include, but are not limited to, the following:
3.1 LEI Issuance
TNV-LEI issues new LEIs to eligible Legal Entities based on validated reference data (LE-RD) submitted by the Applicant. Each LEI is assigned in accordance with ISO 17442 and is unique to the respective Legal Entity. LEIs are issued on a per-year basis and are valid for one year from the date of issuance, unless renewed.
3.2 LEI Renewal
TNV-LEI provides annual and multi-year renewal services. Renewal involves re-validation of the Legal Entity's data to ensure continued accuracy and compliance. Failure to renew an LEI within the applicable timeframe will result in the LEI being marked as "Lapsed" in the Global LEI System (GLEIS).
Legal Entities or their authorized representatives may select from the following options:
Annual Renewal (1-Year)
Multi-Year Renewal Packages (2-year, 3-year, or 5-year) – subject to annual re-validation
Subscription Renewal, where the LEI is automatically renewed every year unless terminated by the Legal Entity or Corporate Representative
3.3 LEI Transfer
TNV-LEI facilitates the inbound and outbound transfer of LEIs in accordance with GLEIF's LEI transfer policy:
Legal Entities may transfer their LEI from another LOU to TNV-LEI by initiating a transfer request.
A valid transfer request must be submitted by the Legal Entity or its authorized representative, accompanied by required supporting documentation.
TNV-LEI ensures data continuity and accurate migration of LE-RD during the transfer process, subject to successful verification.
3.4 Data Update and LE-RD Maintenance
Legal Entities may request updates to their LEI Reference Data (LE-RD), such as changes in legal name, address, registration details, or entity status. TNV-LEI processes such updates free of charge, subject to submission of acceptable supporting documents and validation as per ISO 17442 and GLEIF rules.
3.5 Challenge Management
TNV-LEI accepts and processes challenges submitted by third parties regarding the accuracy or completeness of LE-RD associated with an LEI issued or maintained by TNV-LEI. Challenges may be submitted via Client Dashboard or email to challenge@tnvlei.com and will be reviewed in accordance with TNV-LEI's internal policies and GLEIF's challenge framework.
3.6 Bulk and Group Services
TNV-LEI provides bulk registration, renewal, and transfer services to:
Client Agents managing multiple Legal Entities,
Corporate Representatives representing group companies or related entities under common control.
TNV-LEI may offer volume-based pricing, centralized management dashboards, and tailored invoicing solutions to such clients, subject to verification and approval.
3.7 Access and Account Management
Upon registration, Legal Entities, Corporate Representatives, or Client Agents will receive secure login credentials to access the TNV-LEI portal. The account holder may manage one or more LEIs based on authorization, subject to role-based access control and compliance with applicable terms.
TNV-LEI reserves the right to review or suspend access to the LEI portal in the event of:
Non-compliance with these Terms and Conditions,
Submission of false or misleading data,
Unauthorized usage of account credentials.
4. Application Process & Authentication
4.1 Application Initiation
Legal Entities may apply for LEI services directly through TNV-LEI's official portal at www.tnvlei.com by:
Registering a user account,
Selecting the desired service (issuance, renewal, transfer),
Filling in the required Legal Entity Reference Data (LE-RD),
Uploading applicable supporting documents, and
Completing the online payment process.
The application may be submitted by:
The Legal Entity itself, or
An Authorized Representative, Corporate Representative, or Client Agent holding proper authority as described in Section 2.
Deemed Acceptance:
By initiating an application through the TNV-LEI portal, the Legal Entity and/or its Authorized Representative confirms that they have read, understood, and unconditionally accepted these Terms and Conditions, the applicable policies, fee structures, and operational rules of LEI International Pvt. Ltd. (TNV-LEI). Submission of any request on the portal, including application, renewal, update, or transfer, constitutes a binding agreement between the Legal Entity and TNV-LEI.
4.2 Authentication and Documentation
TNV-LEI requires all Applicants to undergo a verification and authentication process prior to issuance or renewal of an LEI. This includes:
Validation of LE-RD submitted via the portal.
Cross-verification with the relevant company registry, government database, or regulatory authority.
Review of official documents such as:
Certificate of Incorporation or equivalent business registration
Tax identification number (PAN for India, or equivalent)
VAT/GST number (where applicable in jurisdiction)
Board Resolution or Authority Letter (for group representation or agents)
Proof of registered address
Power of Attorney (for third-party representation, if applicable)
TNV-LEI reserves the right to request additional documentation for complex entity types, foreign registrations, or where clarity regarding ownership, structure, or control is required.
4.3 Use of Power of Attorney (PoA)
Where the application is submitted by a person other than an authorized signatory of the Legal Entity:
A valid Power of Attorney (PoA) or authority letter must be submitted,
The format of such authorization must be acceptable to TNV-LEI, and
A downloadable PoA template is available on the TNV-LEI portal for reference.
TNV-LEI may suspend the application or delay processing until valid authorization is verified.
4.4 Login Access and Security
Upon successful creation of a user account, TNV-LEI shall issue secure login credentials to:
The Legal Entity,
The Authorized Representative, or
The designated Corporate Representative or Client Agent.
Such login credentials allow access to manage the assigned LEI(s), submit updates, renewals, and track status.
Users shall:
Maintain confidentiality of their login credentials,
Ensure authorized access only,
Notify TNV-LEI immediately in case of suspected breach or unauthorized usage.
TNV-LEI shall not be liable for any misuse of access credentials due to failure on the part of the user to maintain security.
4.5 Application Confirmation
The application shall be deemed accepted and processing shall commence when:
The registration form and documentation are successfully submitted,
The Applicant has provided accurate and verifiable data,
Payment has been successfully processed through TNV-LEI's payment gateway.
TNV-LEI shall provide a confirmation of the application and estimated timelines for LEI issuance or update via email and dashboard notifications.
4.5.1 Jurisdiction Verification
TNV-LEI will verify jurisdiction eligibility as part of the application process
If jurisdiction is not GLEIF-approved, application will be rejected
Applicant will be notified of rejection reason
Refund will be processed as per Section 6.4.2
Applicant acknowledges that bank and transaction charges are non-refundable
4.6 Amendments and Notifications
TNV-LEI reserves the right to amend these Terms and Conditions at any time to reflect changes in legal requirements, operational policies, GLEIF obligations, or internal procedures.
All such amendments shall be:
Published on the TNV-LEI portal at www.tnvlei.com, and/or
Notified to the registered email address of the Legal Entity or Authorized Representative, if available.
Continued use of the portal or failure to raise objections within fifteen (15) calendar days from the date of notification shall constitute deemed acceptance of the updated Terms and Conditions.
5. Legal Entity and Applicant Responsibilities
5.1 Accuracy and Completeness of Information
The Legal Entity and/or its Authorized Representative shall be solely responsible for ensuring that all information submitted to TNV-LEI during the LEI application, renewal, update, or transfer process is:
Accurate,
Complete,
Up to date, and
Supported by valid documentation, where required.
TNV-LEI shall not be held liable for any delay, or rejection caused due to the submission of incomplete, inaccurate, outdated, or unverifiable information.
5.2 Duty to Notify Changes
The Legal Entity shall promptly notify TNV-LEI of any changes to:
Its legal name,
Registered address,
Registration authority or registration number,
Legal form or operational status (e.g., dissolution, merger, liquidation),
Relationship data (e.g., parent company, subsidiary), or
Any other LE-RD fields as defined by GLEIF.
Such notification shall be made via the TNV-LEI portal, along with appropriate supporting documents.
5.3 Annual Validation Requirement
The Legal Entity acknowledges that the validity of an LEI depends on annual renewal and re-validation of its data, even if it has opted for a multi-year registration or subscription-based service.
Failure to complete the annual re-validation process will result in the LEI being marked as Lapsed in the Global LEI System.
5.4 Responsibility for Agents and Representatives
The Legal Entity shall be responsible for the actions of:
Its Authorized Representative,
Client Agent, or
Corporate Representative,
acting on its behalf for any application, renewal, transfer, or data update. TNV-LEI shall treat any submission made by such authorized persons as valid and binding on the Legal Entity, provided required documentation has been submitted.
The Legal Entity must ensure that:
Each representative is duly authorized and competent,
All authority letters or PoAs are kept current and valid,
Any changes in representation are promptly communicated to TNV-LEI.
5.5 Obligation to Use Services in Good Faith
The Legal Entity shall not:
Submit multiple LEI requests for the same entity,
Intentionally conceal, misrepresent, or falsify any submitted data,
Misuse login access or impersonate another entity.
Violation of this clause may lead to:
Legal action or reporting to GLEIF, as applicable.
5.6 LEI Transfer Obligations
In the case of a transfer:
The Legal Entity is responsible for initiating and verifying the request,
Ensuring cooperation with the outgoing or incoming LOU,
Complying with documentation requirements (e.g., PoA, resolution, declaration of no conflict).
5.7 Payment Responsibility
The Legal Entity shall:
Pay all applicable fees for issuance, renewal, multi-year services, subscription renewals as per TNV-LEI's fee schedule,
Be responsible for any fees incurred by its Authorized Representative or Agent on its behalf,
Acknowledge that fees once paid are non-refundable, except as specifically provided in Section 6.4.
5.8 Acknowledgement of GLEIF Governance
The Legal Entity acknowledges that:
TNV-LEI operates under the governance of GLEIF,
All LEIs issued or managed are subject to GLEIF standards and data quality checks,
GLEIF may request correction, transfer of LEI records under its oversight authority.
6. Fees, Payment Terms, and Refund Policy
6.1 Fee Structure
TNV-LEI charges service fees as published on www.tnvlei.com. All fees are:
Subject to change without prior notice
Displayed in local currency for each country/territory
Exclusive of applicable taxes (GST, VAT, or local equivalents)
Subject to prevailing exchange rates when alternate currency is selected
Payment gateway availability may vary by jurisdiction and amount. Invoice and receipt will be generated automatically upon successful payment in the transaction currency.
Add more validity years in advance at published rates
Max 5 years validity from latest expiry date
6.3.4 Subscription Model
Annual auto-renewal at published rates
Cancellation must be done at least 60 days before expiry
6.4 Refund Policy
6.4.1 General Non-Refundable Nature
All payments made to TNV-LEI are non-refundable, except as specifically provided herein.
No refunds for:
Partially used multi-year contracts
Transfers after payment
Application rejections due to invalid or insufficient data
Entity dissolution or transfer-out
Voluntary cancellation of services
Failure to complete annual validation
6.4.2 Exception for Jurisdiction Restrictions
Notwithstanding the above, if an application is rejected solely because the applicant's jurisdiction is not GLEIF-approved for LEI issuance:
The full service fee will be refunded
Refund will be processed within 15 business days
All bank charges, wire transfer fees, payment gateway charges, and currency conversion costs related to the refund shall be borne by the applicant
The net refund amount will be: (Original Payment - Applicable Transaction Costs)
TNV-LEI will provide documentation of charges deducted
6.4.3 Refund Process
Refunds will be processed to the original payment method where possible
Alternative refund methods may be used if original method is unavailable
Currency conversion rates at time of refund will apply for international transactions
6.5 Fee Modifications
TNV-LEI may revise fees due to:
GLEIF fee changes,
Tax amendments,
System updates,
Market conditions.
Changes will be announced on www.tnvlei.com at least 30 days in advance.
Note: Ongoing multi-year contracts won't be affected retroactively unless transfer-out is initiated.
6.6 Special Provisions for Government Legal Entities
Where the Legal Entity is a government department, ministry, statutory authority, or a state-controlled entity, the following provisions shall apply in addition to the general Terms and Conditions:
The contractual duration for LEI registration or renewal shall be fixed at three (3) years, effective from the date of issuance or latest renewal.
The fees for this 3-year term shall remain fixed and non-adjustable throughout the duration of the agreement.
No additional administrative or renewal charges shall apply during this fixed term.
At the end of the 3-year term, the Legal Entity may renew the LEI under prevailing terms and pricing applicable at that time.
If TNV-LEI ceases to be an accredited LOU during the term, the entity shall have the right to transfer the LEI to another LOU without penalty.
7. LEI Transfer Policy
TNV-LEI supports LEI transfers per GLEIF Transfer Policy, covering:
Incoming Transfer (from another LOU),
Outgoing Transfer (to another LOU).
7.1 Right to Transfer
Legal Entities may transfer their LEI at any time.
Transfer can be initiated by:
The Legal Entity,
Authorized Representative,
Corporate Representative (with docs),
Client Agent (with PoA or mandate).
7.2 Incoming Transfer to TNV-LEI
Requirements:
Submit request on TNV-LEI portal,
Provide authorization (Board Resolution, PoA),
Cooperate with both LOUs,
TNV-LEI will:
Validate and assume LEI management,
Verify and update LE-RD,
Maintain existing LEI validity unless renewed.
7.3 Outgoing Transfer from TNV-LEI
TNV-LEI will:
Process transfer free of charge,
Cooperate with new LOU and client,
Keep LEI "Active" during the process.
Typical completion: within 5 business days of valid request.
7.4 Effect of Transfer on Contracts and Payments
No refunds for unused validity.
Multi-year contract price protection is void upon transfer-out
Renewal responsibility shifts to receiving LOU.
TNV-LEI not liable for service issues with new LOU.
7.5 Transfer Restrictions
Temporary delays may occur if:
Authorization/documents incomplete,
Active data challenge ongoing,
GLEIF audit or dispute holds transfer.
TNV-LEI will notify Legal Entity and provide next steps.
7.6 Transfer Completion and Notification
Upon completion:
Email confirmation sent to Legal Entity,
LEI record updated in GLEIS,
Docs retained per TNV-LEI's retention policy.
8. Data Update and Challenge Policy
TNV-LEI is committed to maintaining the accuracy, completeness, and integrity of Legal Entity Reference Data (LE-RD) associated with each LEI. This section outlines the process and responsibilities for requesting data updates and submitting challenges to LE-RD, whether by the Legal Entity itself or by third parties.
8.1 Data Update Requests
Legal Entities, or their Authorized, Corporate, or Client Representatives, may request updates to their LEI record at any time through the TNV-LEI portal. Updates may include, but are not limited to, changes in:
Legal name,
Registered or head office address,
Legal form,
Company registration authority or number,
Legal jurisdiction,
Relationship data (parent/subsidiary),
Status (e.g., active, merged, dissolved).
Conditions:
All updates must be accompanied by supporting documentation issued by a recognized registration authority or a certified source.
TNV-LEI may verify the submitted data with public or government databases or request additional documents if required.
Fees:
All data updates are processed free of charge, provided they are initiated by the Legal Entity or its authorized representative.
8.2 Advance Validation for Anticipated Changes
TNV-LEI allows Legal Entities to notify and pre-schedule LEI updates for upcoming corporate events such as:
Name changes,
Mergers,
Changes in legal form or status.
These updates can be scheduled for implementation on a specified future date, subject to documentation and internal approval.
8.3 Third-Party Challenges
Any person or organization may submit a Challenge Request regarding the accuracy or completeness of a Legal Entity's LEI data held by TNV-LEI.
A valid email address of the challenger must be included,
Supporting evidence (such as official registry links or documents) must be attached.
Acceptable Grounds for Challenge:
Incorrect legal name or address,
Expired or invalid registration details,
Incorrect relationship data (e.g., wrongly reported parent company),
Duplicate LEI or unauthorized issuance.
8.4 Processing and Response Timeline
TNV-LEI shall acknowledge challenge submissions within one (1) business day,
A complete response shall be provided within seven (7) business days, unless further validation is required,
If the challenge is valid, TNV-LEI will update the LEI record and notify both the Legal Entity and the challenger.
8.5 Review and Escalation
If a challenge is disputed or cannot be resolved due to conflicting information:
TNV-LEI may consult GLEIF or request legal clarifications,
The record may be marked as "Under Review" until resolution,
The Legal Entity may be asked to provide a legal declaration, affidavit, or regulatory correspondence.
8.6 Data Integrity and Correction Obligations
The Legal Entity shall remain responsible for ensuring its LEI data is accurate and current at all times.
TNV-LEI reserves the right to:
Initiate its own internal reviews,
Request revalidation or new documents at any time,
Suspend or lapse an LEI record if repeated non-cooperation or unresolved discrepancies are observed.
9. Omitted (17/01/2025)
10. Limitation of Liability and Indemnification
10.1 Limitation of Liability
To the maximum extent permitted by applicable law, TNV-LEI's total liability to any Legal Entity, Authorized Representative, Client Agent, Corporate Representative, or third party shall be strictly limited to the amount of fees actually paid by the Legal Entity (in the currency of payment) for the specific service giving rise to the claim.
TNV-LEI shall not be liable for:
Any indirect, incidental, consequential, punitive, or special damages including loss of profit, goodwill, reputation, or business opportunity,
Delays, errors, or omissions in issuing, renewing, transferring, or updating an LEI,
Unavailability of the TNV-LEI portal or related systems due to technical faults, maintenance, or force majeure conditions,
Actions taken in good faith reliance on incorrect or misleading data submitted by the Legal Entity or its representative.
This limitation applies to all forms of claims, whether in contract, tort (including negligence), equity, statutory duty, or otherwise.
10.2 No Warranty
TNV-LEI does not warrant or guarantee:
The uninterrupted or error-free operation of its systems,
The acceptance of its issued LEIs by third-party systems, regulators, or financial institutions,
The continued availability of GLEIF or third-party databases used for validation,
That the LEI or LE-RD meets any specific commercial, regulatory, or jurisdictional purpose not governed by ISO 17442.
All services are provided "as is" and "as available" without warranty of any kind, express or implied.
10.3 Force Majeure
TNV-LEI shall not be liable for failure or delay in performing its obligations if such failure results from any cause beyond its reasonable control, including but not limited to:
Acts of God, natural disasters, floods, earthquakes, pandemics,
War, terrorism, strikes, labor disputes, civil unrest,
Changes in law or government policy,
System outages, power failure, network disruption, or cyberattacks.
Performance shall be suspended during the period of such force majeure and resumed once the condition is resolved. Reasonable efforts shall be made to minimize service impact.
10.4 Indemnification by Legal Entity
The Legal Entity shall indemnify and hold harmless TNV-LEI, its directors, officers, employees, consultants, and affiliates against any and all losses, liabilities, damages, penalties, costs, or expenses (including reasonable attorney's fees) arising from or related to:
Submission of inaccurate, false, or misleading information during any LEI service transaction,
Unauthorized use of the TNV-LEI portal or data,
Violation of these Terms and Conditions or applicable law,
Disputes with third parties regarding control, representation, or rights over the LEI or associated data,
Any misuse or misrepresentation of the LEI by the Legal Entity or its agent(s).
TNV-LEI reserves the right to defend any claim at the expense of the indemnifying party.
10.5 Third-Party Services Disclaimer
TNV-LEI may offer integration with payment platforms, document verification tools, or third-party databases. TNV-LEI shall not be liable for any breach, data misuse, or service failure caused by such third-party service providers. The Legal Entity agrees to comply with any separate terms and privacy policies applicable to those third-party services.
11. Data Protection and Access to LEI Records
TNV-LEI is committed to safeguarding the privacy and integrity of personal and legal entity data submitted during the LEI application, renewal, transfer, and validation processes. This section outlines how TNV-LEI collects, stores, uses, shares, and protects data in accordance with applicable laws and GLEIF policies.
11.1 Compliance with Data Protection Laws
TNV-LEI shall process all data in compliance with:
The Digital Personal Data Protection (DPDP) Act, 2023 (India),
The General Data Protection Regulation (GDPR) (EU), as applicable,
The Swiss Federal Data Protection Act, and
Other relevant international data protection frameworks that may apply to cross-border data transactions.
11.1.1 International Privacy Standards
TNV-LEI adheres to international best practices for data protection, including:
Principles aligned with GDPR for all users globally
Data minimization and purpose limitation
Rights of access, correction, and deletion (where legally permissible)
Data portability and breach notification standards
Lawful basis for processing (consent, contract, legitimate interest)
These standards apply regardless of the user's location, ensuring uniform high-level protection.
11.2 Collection and Use of Data
TNV-LEI collects and processes the following data categories:
Legal Entity Reference Data (LE-RD) including legal name, address, incorporation details, registration number, etc.,
Relationship Data (e.g., parent/subsidiary relationships),
Supporting documents submitted by the Legal Entity or its representative,
Personal details of Authorized Users (e.g., name, contact information, designation).
Ensuring compliance with applicable laws and contractual obligations.
11.3 Publication and Open Access
In accordance with the GLEIF mandate:
All LEI records and LE-RD are published in the Global Legal Entity Identifier System (GLEIS) and made freely accessible via the GLEIF website,
TNV-LEI may also publish LE-RD and LEI status information on its own portal.
This data is considered public domain and may be used by financial institutions, regulators, and other users globally without restriction.
Personal data (e.g., email addresses, contact numbers) is not published, unless mandated by law or regulatory authority.
11.4 Data Sharing and Cross-Border Transfers
TNV-LEI may share data with:
GLEIF for integration into the global LEI system,
Government regulators, tax authorities, or law enforcement agencies as legally required,
Third-party service providers (e.g., payment processors, IT infrastructure partners) under confidentiality agreements.
Where data is transferred across borders, TNV-LEI ensures that appropriate legal safeguards and data protection controls are in place, including standard contractual clauses and consent-based mechanisms where applicable.
11.5 Data Security and Retention
TNV-LEI employs reasonable administrative, technical, and physical safeguards to protect stored data from loss, unauthorized access, misuse, or disclosure. This includes:
SSL encryption,
Role-based access controls,
Multi-factor authentication for portal login,
Regular data backups.
Data retention practices:
LEI-related records and documents shall be retained for a minimum of 8 years from the date of last activity or as required by law,
Personal and authorization data will be retained only for the duration necessary to fulfill the service and comply with legal obligations.
11.6 User Rights and Consent
The Legal Entity and Authorized Users have the right to:
Review and request correction of their personal information,
Withdraw consent for the processing of personal data (except where legally required),
Request data deletion, subject to statutory limitations.
Requests must be submitted in writing to support@tnvlei.com and shall be processed within 30 days of receipt.
11.7 Privacy Policy Availability
TNV-LEI's full Privacy Policy is made available at www.tnvlei.com/privacy and is deemed accepted by all users of the TNV-LEI portal. Continued use of the portal constitutes consent to the terms of the Privacy Policy and these Terms and Conditions.
11.8 Data Storage and GLEIF Repository
11.8.1 TNV-LEI as Data Processor
TNV-LEI operates as a data processor under GLEIF's global framework. All LEI data is transmitted to GLEIF as the authoritative repository. We do not maintain separate country-specific databases or provide local data segregation. By using our services, you acknowledge and consent to this centralized data management approach as required by the Global LEI System.
11.8.2 GLEIF Data Submission
TNV-LEI submits Common Data File (CDF) format to GLEIF
All LE-RD becomes part of the Global LEI System
Data localization requirements, if any, are addressed through GLEIF's global framework
GLEIF maintains the authoritative and comprehensive database of all LEI records globally
11.8.3 No Local Storage Representation
TNV-LEI does not represent or warrant local data storage in any jurisdiction
Use of services constitutes consent to centralized storage and GLEIF transmission
Any local data residency requirements are the responsibility of the Legal Entity to assess before application
12. Governing Law and Dispute Resolution
12.1 Governing Law
These Terms and Conditions and any agreement arising hereunder shall be governed by and construed in accordance with the laws of India, without regard to its conflict of law principles.
Where any cross-border or international operation is involved, relevant principles under international contract law, including applicable data protection, cross-jurisdictional taxation, or intellectual property provisions, shall be considered in addition to Indian law.
12.1.1 International Users Acknowledgment
Regardless of your location or the jurisdiction from which you access our services:
You expressly consent to the exclusive application of Indian law
You waive any right to invoke your local jurisdiction
You agree that all disputes shall be resolved exclusively in Lucknow, India
This choice of law and forum selection is a material condition of service
12.1.2 Respect for Local Consumer Protection
While maintaining Indian jurisdiction, TNV-LEI acknowledges that:
Mandatory consumer protection laws in your jurisdiction may apply
We respect international data protection standards including GDPR principles
Local regulatory requirements for LEI services will be observed where applicable
Such acknowledgment does not constitute submission to local jurisdiction
12.2 Jurisdiction
Subject to the arbitration provisions below, the courts of Lucknow, Uttar Pradesh, India shall have exclusive jurisdiction over any disputes arising out of or in connection with these Terms and Conditions, including their interpretation, performance, enforcement, or breach.
12.3 Arbitration
12.3.1 Primary Arbitration (Indian Rules)
If both parties agree to resolve disputes through arbitration:
Arbitration shall be conducted under the Arbitration and Conciliation Act, 1996 (India)
Sole arbitrator jointly appointed by parties
Seat and venue: Lucknow, India
Language: English
Decision shall be final and binding
12.3.2 International Commercial Arbitration Option
For international Legal Entities (non-Indian), upon mutual written agreement:
Arbitration may be conducted under UNCITRAL Arbitration Rules
Alternatively, ICC Rules of Arbitration may apply if both parties agree
Seat remains Lucknow, India unless otherwise agreed
Governing law remains Indian law
Number of arbitrators: One (or three for disputes exceeding USD 1 million)
Language: English
12.3.3 Expedited Procedure
For disputes under USD 50,000 (or INR equivalent):
Decision within 3 months of arbitrator appointment
Reduced fee schedule applies
12.4 Alternative Dispute Resolution (ADR) Before Litigation
Before initiating any legal proceedings, the parties agree to make a good faith effort to resolve the matter amicably through negotiation or mediation. This includes:
Written communication and document exchange within a 15-day period,
Optional involvement of a neutral third-party mediator (at mutual cost).
If resolution is not reached within 30 calendar days of initiation of ADR, either party may pursue formal arbitration or litigation, as applicable.
12.5 No Class Actions
The Legal Entity and its representatives agree that any dispute shall be brought only in an individual capacity and not as part of any class action, collective action, or representative proceeding.
12.6 Survival of Dispute Terms
The dispute resolution obligations, including governing law, arbitration, indemnity, and jurisdiction, shall survive the termination or expiration of the Agreement or cessation of LEI services.
12.7 Enforcement and Recognition
The Legal Entity acknowledges that:
These Terms constitute a commercial agreement between sophisticated parties
The choice of Indian law and jurisdiction is reasonable and negotiated
They waive any claim that India is an inconvenient forum
Indian judgments may be enforced in their local jurisdiction under applicable treaties
They will not oppose enforcement based on jurisdiction arguments
12.8 Electronic Commerce and Remote Services
The Legal Entity acknowledges that:
All services are provided electronically from India
No physical presence or establishment exists in user's jurisdiction
Services constitute electronic commerce under Indian law
The transaction is complete upon delivery of LEI number electronically
Use of local payment methods or currency does not create local presence
Customer support provided remotely does not constitute local establishment
13. General Provisions and Notices
13.1 Entire Agreement
These Terms and Conditions, along with TNV-LEI's published Privacy Policy, Fee Schedule, and any supplemental agreements signed between TNV-LEI and the Legal Entity, together constitute the entire agreement between the parties with respect to LEI services, and supersede all prior written or oral communications, proposals, or understandings.
13.2 Amendments and Updates
TNV-LEI reserves the right to modify these Terms and Conditions at any time:
Notification may be sent to registered email addresses of Legal Entities or their representatives,
Continued use of the TNV-LEI portal or services after such publication shall constitute deemed acceptance of the amended Terms.
Where required by law, explicit consent shall be obtained for material changes affecting personal data usage.
13.3 Severability
If any provision of these Terms and Conditions is determined by a competent authority or court to be invalid, illegal, or unenforceable, the remaining provisions shall remain in full force and effect. Such invalid provision shall be replaced with a valid one that best reflects the intent of the original.
13.4 No Waiver
Failure or delay by TNV-LEI to exercise any right, power, or remedy under these Terms shall not operate as a waiver of that right. Any waiver must be in writing and expressly stated.
13.5 Assignment
The Legal Entity may not assign or transfer any rights or obligations under this agreement without prior written consent from TNV-LEI. TNV-LEI may assign its rights and obligations to any affiliate, successor, or third-party service provider subject to GLEIF compliance and legal obligations.
13.6 Language and Interpretation
These Terms and Conditions are written in English, which shall be the controlling language for all purposes. Translations provided on the TNV-LEI portal or elsewhere are for convenience only. In the event of any inconsistency or ambiguity, the English version shall prevail.
13.7 Document Hierarchy
In the event of any inconsistency between:
These Terms and Conditions,
TNV-LEI's published policies,
GLEIF standards or ISO 17442 requirements,
then the following order of precedence shall apply:
GLEIF rules and ISO 17442 standard (if mandatory),
TNV-LEI Terms and Conditions,
Published policies (e.g., Privacy Policy),
Individual communications or commercial arrangements.
13.8 Notices
All legal notices or official communication under these Terms shall be:
Delivered in writing to TNV-LEI's registered office at: TNV House, B-1/19/69, Sector-K, Aliganj, Lucknow – 226024, Uttar Pradesh, India.