Terms and Conditions for LEI Services (Issued By TNV-LEI)

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 Candidate 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.

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

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, if any.
• Incoming transfers to TNV-LEI may be subject to a service fee as per TNV-LEI’s rate card or specific arrangement with Client Agents or Corporate Representatives.
• Outgoing transfers initiated by the Legal Entity are facilitated by TNV-LEI without any additional charges.
• 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 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 Registration,
  • PAN (for Indian entities),
  • GSTIN (if applicable),
  • Board Resolution or Authority Letter (for group representation or agents),
  • Proof of address, and
  • 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.

4.6 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, suspension, 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:

• Immediate suspension of access,
• Lapsing of the LEI,
• 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,
• Paying applicable transfer or re-validation fees, if charged by TNV-LEI,
• 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, and transfers, 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, including in the case of multi-year contracts or transfers out to other LOUs.

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, or suspension of LEI records under its oversight authority.

6. Fees, Payment Terms, and Refund Policy

6.1 Fee Structure

TNV-LEI charges service fees in accordance with the following structure. All fees are exclusive of applicable GST or statutory taxes:

• For bulk transfers by Client Agents or Corporate Representatives, transfer fees may be negotiated or waived on a case-by-case basis.

6.2 Payment Terms

All service fees must be paid in advance through TNV-LEI’s online payment gateway.

Accepted payment methods include:

• Razorpay,
• HDFC Gateway,
• Other options as updated on www.tnvlei.com.

Invoice and receipt will be generated automatically upon successful payment.

6.3 Multi-Year & Subscription Services

6.3.1 Multi-Year Registrations

• 2, 3, and 5 year contracts available.
• First year fixed at ₹4,000.
• Subsequent years billed at ₹3,000 each.

Example Calculations:

• 2-Year: ₹4,000 + ₹3,000 = ₹7,000
• 5-Year: ₹4,000 + ₹3,000 × 4 = ₹16,000

6.3.2 Upgrading from 1-Year to Multi-Year

• First renewal at ₹4,000,
• Add-on years at ₹3,000 per year.

Example: Extend 1 year to 4 years more → ₹4,000 + ₹3,000 × 3 = ₹13,000

6.3.3 Advance Renewal (Top-Up Model)

• Add more validity years in advance at ₹3,000/year.
• Max 5 years validity from latest expiry date.

Example: If valid till 1 April 2026 and top-up for 3 years in March 2025 → new expiry = 1 April 2029.

6.3.4 Subscription Model

• Annual auto-renewal at ₹4,000.
• Cancellation must be done at least 60 days before expiry.

6.4 Refund Policy

All payments made to TNV-LEI are non-refundable.

No refunds for:

• Partially used multi-year contracts,
• Transfers after payment,
• Application rejections due to invalid data,
• Entity dissolution or transfer-out.

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 contracts won’t be affected retroactively.

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:

1. The contractual duration for LEI registration or renewal shall be fixed at three (3) years, effective from the date of issuance or latest renewal.

2. The fees for this 3-year term shall remain fixed and non-adjustable throughout the duration of the agreement.

3. No additional administrative or renewal charges shall apply during this fixed term.

4. At the end of the 3-year term, the Legal Entity may renew the LEI under prevailing terms and pricing applicable at that time.

5. 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,
• Pay applicable fee (negotiable for bulk).

TNV-LEI will:

• Validate and assume LEI management,
• Verify and update LE-RD,
• Maintain existing LEI validity unless renewed.

Note: Post-transfer LEIs may need renewal if “Lapsed” or “Pending Archival”.

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.
• 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,
• Payments pending or disputed,
• 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

“Publicly available LEI and LE-RD records may be searched at the official GLEIF database: https://search.gleif.org”
“Users are encouraged to verify current LEI status or submit challenges using this link.”

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.

Submission Method:

• Challenges must be sent via email to challenge@tnvlei.com,
• 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 ten (10) 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. Termination, Suspension, and Deactivation

TNV-LEI maintains the right to manage the operational status of a Legal Entity Identifier (LEI) in accordance with ISO 17442, GLEIF’s LEI lifecycle management guidelines, and TNV-LEI’s internal policies. This includes the termination of agreements, suspension of LEI records, and deactivation of user accounts in specific cases as defined below.

9.1 Termination of Agreement

The Agreement between TNV-LEI and a Legal Entity shall be deemed terminated upon the occurrence of any of the following:

• The Legal Entity is dissolved, liquidated, or merged into another entity;
• TNV-LEI ceases operations or ceases to function as a GLEIF-recognized LOU;
• The LEI has been transferred out to another LOU;
• The LEI has reached expiration without renewal beyond the permitted grace period;
• A legal request or directive from GLEIF or a competent authority mandates termination;
• Either party terminates the Agreement in accordance with applicable laws or breach provisions (e.g., fraud, non-cooperation).

Termination shall not affect the rights of TNV-LEI to recover fees due or obligations accrued up to the date of termination.

9.2 Suspension of LEI

TNV-LEI may temporarily suspend an LEI record under the following conditions:

• Submission of inaccurate, false, or unverifiable data by the Legal Entity or its representative;
• Non-payment of renewal or transfer fees;
• Receipt of a valid challenge requiring investigation;
• Disputed authorization of the applicant or agent;
• Pending verification of significant changes (e.g., merger, name change, corporate restructuring).

During suspension:

• The LEI may remain visible in the GLEIF database but marked as “Under Review” or “Temporarily Suspended”,
• TNV-LEI shall notify the Legal Entity of the reason and request corrective action,
• Suspension shall be lifted upon satisfactory resolution of the underlying issue.

9.3 Deactivation of Portal Access

TNV-LEI reserves the right to suspend or deactivate user access to the TNV-LEI portal, temporarily or permanently, under the following circumstances:

• Repeated misuse of login credentials or unauthorized activity;
• Attempts to access LEIs without valid authorization;
• Breach of Terms and Conditions, including violation of data policies;
• Security threat or compromise detected from the user account;
• Account inactivity exceeding 24 months without any LEI activity.

Reactivation may be considered upon submission of a formal request and appropriate validation.

9.4 Lapsing of LEI

If a Legal Entity fails to renew its LEI on or before the due date:

• The LEI status shall be changed to “Lapsed”,
• The Legal Entity will be required to undergo full re-validation before reinstatement,
• Lapsed LEIs remain visible in the public GLEIF database but are not considered valid for reporting purposes.

9.5 Revocation and Archival

TNV-LEI may, in rare and exceptional circumstances, revoke an LEI if:

• The LEI was issued in violation of GLEIF rules (e.g., duplicate issuance),
• The entity is found to be non-existent, fraudulent, or fictitious after validation,
• Directed by GLEIF or a government authority for legal or compliance reasons.

In such cases:

• The LEI shall be marked as “Retired”, “Annulled”, or “Pending Archival” depending on the case,
• Historical records shall remain accessible in the LEI database with appropriate status and reason codes,
• The Legal Entity or its representative shall be informed of the revocation and its rationale.

9.6 Notice of Termination or Action

TNV-LEI will notify the Legal Entity of any action under this section (termination, suspension, deactivation) via registered email.

• The Legal Entity shall be given reasonable time to respond or rectify (where applicable), generally not less than 10 business days.
• In urgent cases involving legal directives, security threats, or potential misuse, TNV-LEI may act immediately and provide retrospective notice.

9.7 Reinstatement and Restoration of LEI

Legal Entities whose LEIs have been marked as Lapsed, Suspended, or Temporarily Inactive may request reinstatement subject to the following conditions:

9.7.1 Eligibility for Reinstatement

An LEI may be reinstated by TNV-LEI if:

• The Legal Entity continues to legally exist and operate,
• The reason for suspension or lapse has been resolved,
• Updated documentation and validation data are submitted,
• All outstanding payments (if any) are cleared, and
• The LEI was not revoked or retired due to a critical compliance or legal breach.

9.7.2 Reinstatement Process

To initiate reinstatement:

• The Legal Entity or its authorized representative must file a Restoration Request through the TNV-LEI portal,
• Submit valid documents (e.g., incorporation certificate, updated proof of address, board resolution),
• Complete re-validation of the Legal Entity Reference Data (LE-RD),
• Pay the applicable renewal fee as per the current fee structure.

TNV-LEI shall review the request and confirm reinstatement status within five (5) business days, subject to completeness and compliance.

9.7.3 Effect of Reinstatement

Upon successful reinstatement:

• The LEI shall be restored to Active status in the GLEIF Global LEI System (GLEIS),
• The original LEI code and registration history will remain intact,
• The new expiry date will reflect the anniversary of the latest validated renewal date.

9.7.4 Non-Restorable LEIs

TNV-LEI reserves the right to reject reinstatement requests in the following cases:

• The entity no longer legally exists or is permanently dissolved,
• The LEI was revoked, retired, or annulled under GLEIF’s duplicate or error protocol,
• The Legal Entity fails to respond to validation requests within the given timeline,
• Repeated abuse of the system or attempted misuse of LEI data has been documented.

In such cases, the Legal Entity shall be advised to apply for a new LEI if eligible, and the original LEI will remain archived with appropriate status.

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 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, suspending, 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.

11.2 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).

This data is collected solely for the purpose of:

• Verifying and issuing LEIs,
• Managing lifecycle activities (renewal, updates, transfer),
• Meeting GLEIF reporting obligations,
• 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.

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.

12.2 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 (Optional and Mutually Agreed)

Where both parties mutually agree to resolve any dispute through arbitration:

• The dispute shall be referred to a sole arbitrator jointly appointed by the parties,
• The arbitration proceedings shall be conducted in English and governed by the provisions of the Arbitration and Conciliation Act, 1996 (as amended),
• The seat and venue of arbitration shall be Lucknow, India, unless otherwise agreed,
• The decision of the arbitrator shall be final and binding upon both parties,
• The costs of arbitration shall be borne as determined by the arbitrator, or equally in the absence of such determination.

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.

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:

• Changes shall be published on www.tnvlei.com,
• 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:

1. GLEIF rules and ISO 17442 standard (if mandatory),
2. TNV-LEI Terms and Conditions,
3. Published policies (e.g., Privacy Policy),
4. 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:

LEI International Private Limited
TNV House, B-1/19/69, Sector-K, Aliganj,
Lucknow – 226024, Uttar Pradesh, India

• Or sent via email to:

  • support@tnvlei.com for general matters
  • challenge@tnvlei.com for LEI-related disputes

Notices to Legal Entities shall be sent to:

• The registered email address provided at the time of account creation, or
• The official communication address of the Legal Entity or its Authorized Representative.

Electronic notices shall be deemed delivered upon successful transmission unless a delivery failure is reported.

Appendices for TNV-LEI Terms and Conditions

⚠️Important Note: this Agreement have been prepared as fulfilment of the accreditation requirement of the GLEIF and TNV-LEI at present don’t issue or manage any LEI due to its limited status of the candidate LOU with its candidate LOU status 9269. Therefore client and user are advised not to apply any LEI until our candidate LOU status is changed to Accredited LOU.