TERMS & CONDITIONS

SERVICE

Swiss LEI (hereafter 'Swiss LEI') is a service provided by Geneva Compliance Group SA, Geneva, Switzerland. Swiss LEI has established a partnership with the Global Markets Entity Identifier (‘GMEI’) Utility and through this partnership it aims to provide LEIs to Swiss LEI Registrants (Users).

Swiss LEI acts as a service provider and Registration agent recognized by the Global LEI Foundation (GlLEIF). The GMEI Utility is an endorsed Local Operating Unit (‘LOU’) of the Global Legal Entity Identifier System (GLEIS). By agreeing to the present Terms & Conditions you implicitly accept the GMEI’s Terms & Conditions as well as its Privacy Statement.

Swiss LEI Users have a direct relationship with Swiss LEI and will, in turn, be provided with LEIs issued and maintained by the GMEI Utility, under the present Terms and Conditions.

Swiss LEI processes and forwards LEI registration and maintenance items using Swiss LEI's web portal (www.swisslei.ch). The Swiss LEI web portal and bulk upload capture all required fields (reference data) necessary for LEI registration. In addition to this, Swiss LEI keeps User accounts and billing data related to the direct relationship with the User.

Swiss LEI’s Privacy Notice covers how personal data is used and managed and how protect Users’ integrity is respected when using its Services. By agreeing to the present Terms and Conditions, Users agree to the processing of any personal data as set out in Swiss LEI’s Privacy Notice.

PRICING AND INVOICING

Issuance and maintenance of LEI by Swiss LEI is subject to standard payment as outlined in the Fee Schedule.

The price of an initial LEI registration or renewal is payable immediately after the User has registered an order. At the longest, Swiss LEI will keep an unpaid order open for 30 days, after which date the order is deemed lapsed. Swiss LEI will only send order confirmations and pdf receipts via e-mail to the User.

Before the maintenance period of 12 months has expired, Swiss LEI will contact the User in order to remind of the necessity to maintain the LEI. The annual maintenance fee is available on the Fee Schedule and is subject to change.

In case a LEI is not maintained, it will lapse and will no longer be valid for regulatory reporting and other uses.

Swiss LEI applies VAT as deemed appropriate, in line with Swiss VAT rules for the provision of services within Switzerland and Liechtenstein. Swiss LEI will rely on the VAT number and billing data of the entity that the User has registered, which may differ from the User’s country. Swiss LEI will not provide any additional tax certificates, VAT enquiries or similar.

The User agrees to the electronic transmission of order confirmations and receipts on behalf of itself and any billing recipient it registers on the Swiss LEI portal.

The User shall remit payment immediately as per the received order confirmation(s). The base currency of services will be in CHF. In case of Swiss LEI not having received full payment according to the order confirmation, Swiss LEI reserves the right to remove the order.

All order confirmations and receipts are sent by Swiss LEI as PDF documents per e-mail. Receipts contain the billing data and details that the User has given at the time of registration using Swiss LEI's internet portal. The invoice is issued in the name of the entity, transmitted to the User.

DUE DILIGENCE AND LEI APPLICABILITY

The right for an entity to apply for and receive a LEI is defined broadly in Recommendation 8 of the LOU principles, available at the FSB Report Global Legal Entity Identifier for Financial Markets. In most cases the due diligence process of an incorporated entity registered with a local trade register (or equivalent) is straightforward using public sources. However, entities that wish to apply for a LEI but which do not have a separate legal personality according to the rules and laws of their jurisdiction may be allowed as separate LEI holders if they meet sufficient conditions to participate as financial counterparties required to report their transactions (under EMIR, Dodd-Frank Act or similar legislation), e.g. funds, trusts, government agencies and municipalities that are able to enter into independent financial transactions are eligible to receive a LEI.

The Swiss LEI portal will support data submission for unique entities, such as funds. Please refer to the GMEI utility Portal - Fund Guidance document.

OBLIGATIONS OF THE USER

The User is responsible for the accuracy of reference data whether the User is applying on its own behalf, for an affiliate entity or when acting as an agent. In transmitting the reference data, the User warrants its correctness and applicability within the scope of the LEI registration process.

The User making the application declares that he/she is an authorised representative of the registered entity, either in the User's role as an employee or officer of the company or acting on an affiliate entity's behalf (so called Primary Registration).

For agents and representatives performing registration for a third-party entity (so called Assisted Registration) there should exist proper authorisation, e.g. power-of-attorney, general conditions or equivalent legal mechanisms. The User will warrant that they have this authorisation when registering a LEI application using the Swiss LEI web portal.

Swiss LEI reserves the right to request additional written/scanned information from the User, e.g. obtain documentation to confirm that any third party performing registration for an entity has been properly authorised.

The User is obligated to make Swiss LEI aware of any changes to a registered entity that will necessitate change to the LEI reference data due to a corporate action, e.g. merger, dissolution, acquisition or other change of incorporation. This should be done on a continuous basis and in conjunction with annual maintenance and re-validation of LEI reference data.

The User should ensure that the LEI application is unique and is also aware that each legal entity may issued only one LEI. Should the Due Diligence process reveal that another LEI has been registered (or is pending) the User's request will be denied. The fees applicable to an initial LEI application will nevertheless be charged to cover Swiss LEI's effort.

OBLIGATIONS OF SWISS LEI

Swiss LEI will validate that reference data provided by the User is complete. User submitted reference data will be forwarded to the GMEI Utility which will carry out subsequent validation that the applying entity exists using publicly available sources, e.g. business register information, public home pages and official documents.

Swiss LEI will revert to the User in case of any incomplete applications or to seek further information to corroborate the validity of the entity, when publicly available sources do not suffice.

Swiss LEI and the GMEI Utility will make reasonable efforts to ascertain that no previous LEI has been issued either by the GMEI Utility or another LOU for the same entity.

PUBLIC INFORMATION

The User agrees that all public reference data captured and received by Swiss LEI as part of the registration and due diligence process will instantly be published and searchable on Swiss LEI's, the GMEI Utility's and GLEIF's web portals as applicable.

If a representative of an entity finds erroneous or fraudulent information on Swiss LEI's publicly available data, please e-mail customerservice@swisslei.ch to initiate an enquiry.

GENERAL

The present Terms and Conditions may be updated at any time. Substantial changes will be communicated on Swiss LEI's homepage. The Users of Swiss LEI's services are legally obliged to comply with the present Terms and Conditions at all times.

The services provided by Swiss LEI are governed by the laws of Switzerland and any legal proceedings will be undertaken in the courts of Geneva, Switzerland.

Any available translation of this document is for informative purpose only, in any case, the English version shall prevail.