Terms Of Service

TERMS OF SERVICE

These terms of service govern the terms, conditions, rights, and obligations of the parties when providing “LEIZONE” services on the internet under https://leizone.eu and https://portal.leizone.eu.

When we refer to “LEIZONE” “we,” or “us” in this terms of service, we mean VP Markets OÜ (reg. 12306661, registered in the Republic of Estonia), which provides the services. We refer to our website leizone.eu, domain and subdomains in this document.

VP Markets OÜ is an official LEI Registration Agent of RapidLEI and operates under the trademark “LEIZONE”.  

1.       General terms

1.1.    LEI – the Legal Entity Identifier which is a unique identification code for legally independent entities. This is a 20-character, alpha-numeric code based on the ISO 17442 standard.

1.2.    Website – set of data and information available at https://leizone.eu and https://portal.leizone.eu.

1.3.    When we refer to “you” or “client” we mean user of “LEIZONE” services available at the website.  

1.4.    Service – set of services provided by „LEIZONE“ to request, manage and issue LEI(s) via the website.  

1.5.    Agreement – commitment which constitutes the entire agreement between client and “LEIZONE” and governs use of the service.

1.6.    Order – customer instruction to “LEIZONE” to issue, renew or transfer LEI(s).

2.       Prices

2.1.    “LEIZONE” reserves the right to change from time to time its pricelists. Updated information will be published on the website.

2.2.    Prices for the provision of the services are available at https://leizone.eu/pricing/.

3.       Services

3.1.    The client gives all rights to “LEIZONE” to apply for LEI codes on the client’s behalf. In addition, they are authorized to sign the RapidLEI Terms of Service contract published here, and they can perform all duties required to manage the LEI on our behalf.

3.2.    The client confirms that he/she has the full authority to apply for Legal Entity Identifiers (LEI) on behalf of the Legal Entity.

3.3.    The client is aware that he/she may be contacted to supply a Letter of Authorization (Power of Attorney) or any other proof that the applicant is authorized to apply for Legal Entity Identifiers (LEI) on behalf of the legal entity.

3.4.    New LEI code issuance, renewal or transfer

3.4.1.To apply for an LEI code, renew existing LEI code or transfer LEI code please go to https://leizone.eu, click “Start” button and submit relevant order through “LEIZONE Portal” using provided instructions.  

3.4.2.The client agrees that while submitting relevant order they accept these terms of service.

3.4.3.The client confirms that the data submitted is correct and that they are aware their contact details can be shared with LOU (Local Operating Unit).

3.4.4.The client understands that in case of providing wrong, incorrect or incomplete data and/or information “LEIZONE” and/or LOU (Local Operating Unit) may not complete the order.

3.4.5.“LEIZONE” may contact you to request additional data and/or information necessary to fulfill your order. Please ensure that you provide correct contact details (e-mail address and/or phone number).

3.4.6.The client agrees that the application to issue LEI code, renew LEI code or transfer LEI code will be counted as final after the data has been submitted and the payment has been made. Client cannot revoke the final application.

3.4.7.Orders are processed by “LEIZONE” during regular business hours based on Estonian calendar from 9:00 AM to 17:00 PM.

4.       Multiyear contracts

4.1.    “LEIZONE” offers multiyear LEI(s) by automating the LEI renewal process. With multiyear LEI(s) there’s no additional fees to pay and no invoice processing.

4.2.    Within multiyear contract the client prepays the renewal fee in advance for up to 5 (five) years.

4.3.    You accept that “LEIZONE” will update your data in the GLEIF (Global Legal Entity Identifier Foundation) database annually based on the data provided in public registries. The client accepts that the Legal Entity data will be automatically corrected according to the official entity registration documents if they have changed compared to the previous data records in the GLEIF database. 

4.4.    In some case we will need additional letter of authorization to finalize data update in the GLEIF database. You are aware and understand that if no letter of authorization is presented in 60 days from order date then “LEIZONE” has the right to cancel the multiyear contract and no refunds will be made.

4.5.    If you decide that you do not need any more active LEI code or decide to transfer LEI code to other service provider then your multiyear contract will be automatically cancelled and no refunds will be made.

5.       Supported payment methods

5.1.    Payments are processed by “Maksekeskus AS”. “LEIZONE” is responsible for processing of personal data, and forwards the data necessary to complete payments to the authorized processor “Maksekeskus AS”.

5.2.    By default all amounts due are in currency EUR.

5.3.    When paying with a bank link, be sure to click the “Back to merchant” button on the bank’s page.

5.4.    Payment takes place outside the “LEIZONE” website in a secure environment – when paying with a bank link in the secure environment of the respective bank and when paying with a credit card in the secure environment of “Maksekeskus AS”. “LEIZONE” does not have access to the customer’s bank and credit card details. The agreement enters into force upon receipt of the full amount due to the current account of the “LEIZONE”.

5.5.    “LEIZONE” accepts the following payment methods:

5.5.1.Estonian bank links: Swedbank, SEB, Luminor, LHV, Coop Pank, Pocopay;

5.5.2.Visa/Mastercard card payments;

5.5.3.Latvian bank links: Swedbank, SEB, Citadele and Luminor;

5.5.4.Lithuanian bank links: Swedbank, SEB and Luminor;

5.5.5.SEPA or international payments in EUR to the following bank account of “LEIZONE”:

Beneficiary: VP Markets OÜ

IBAN (EUR): EE517700771001650380

Bank: AS LHV Pank, Tartu mnt 2, 10145 Tallinn, Estonia, BIC/SWIFT: LHVBEE22  

6.       Client representations and obligations

6.1.    You agree to comply with the terms of service and with all applicable local and international laws and regulations, policies and procedures, including all export and other laws regarding the transmission of technical data exported from any country trough the service.

6.2.    You agree that you will not use the service for illegal purposes and will not perform activities aimed at disruption of the services.

6.3.    You understand that “LEIZONE” is not responsible in any way for possible damage related to LEIs.

6.4.    You represent and warrant that you are at least 18 years of age (or, as applicable, the age of majority in the state or province in which you reside), and that you possess the legal right and ability to enter into this agreement.

6.5.    Payments in relation to ordered products and services from “LEIZONE” are due in advance and must be made by supported payment methods.

6.6.    You acknowledge and agree that “LEIZONE” owns all right, title and interest in the service and the website, including, without limitation, all the intellectual property rights.

7.       Refund policy

7.1.    Refunds may only be requested prior to the issuance of an LEI. No refunds will be made post issuance and publication of the LEI code in the GLEIF system (https://www.gleif.org).

7.2.    “LEIZONE” has the right to deny the refund if client transfers the LEI(s) to a different service provider.

7.3.    “LEIZONE” has the right to deny the refund if client fails to submit and deliver to the “LEIZONE” proof of authorization, proof of entity registration or any other documents and/or information necessary to complete the order.  

7.4.    Refund requests can be made by email to [email protected].

8.       Taxes

8.1.    Any taxes, duties, fees and other governmental charges of any kind (including sales, services, use and value-added taxes, but excluding taxes based on the gross revenues or net income of “LEIZONE”) which may be imposed by or under the authority of any government or any political subdivision thereof on you related to the services or your use of the Service shall be borne by you.

9.       Governing law

9.1.    This agreement and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of Republic of Estonia.

10.   Jurisdiction

10.1.                    Each party irrevocably agrees that the courts of Republic of Estonia shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this agreement or its subject matter or formation.

11.   Other

11.1.                    LEIZONE reserves the right to make changes to its terms of service at any time. We will publish amended version on the https://leizone.eu website.

11.2.                    This agreement supersedes all prior agreements and understandings between client and “LEIZONE”, whether written or oral.

11.3.                    In case of questions in relation to the services please contact support at [email protected].

11.4.          The refund period as detailed under the GLEIF RA Governance Framework will be honoured appropriately.

11.5.          LEIZONE APIs do not use any APIs to obtain empowered signer details.

Last update: September 10, 2023