LEI (Legal Entity Identifier)
Overview
The LEI module manages Legal Entity Identifiers within the CLIQ trade finance system. An LEI is a unique 20-character identifier that identifies distinct legal entities participating in financial transactions worldwide.
What is LEI?
Legal Entity Identifier Explained
An LEI is:
- A 20-character alphanumeric code
- Globally recognized identifier for legal entities
- Required for trade finance transactions
- Standardized by ISO 17442
Why LEI is Important for Trade Finance
- Transparency: Ensures clear identification of all parties
- Compliance: Meets international regulatory requirements
- Risk Management: Helps investors verify company legitimacy
- Standardization: Universally recognized across financial systems
LEI Registration Process
Step 1: Check LEI Status
- Navigate to LEI section in CLIQ
- Check if your company already has an LEI
LEI Management
Viewing Your LEI
Once registered:
- Your LEI code is displayed prominently
- Registration details are accessible
- Expiry date is tracked
- Status is monitored
LEI Information Display
Your LEI profile shows:
- LEI Code: 20-character identifier
- Legal Name: Registered entity name
- Status: Active, Lapsed, or Pending
- Registration Date: When LEI was issued
- Expiry Date: When renewal is needed
- Issuing LOU: Organization that issued your LEI
LEI Requirements by Transaction Type
| Transaction Type | LEI Required | Verification Level |
|---|---|---|
| Import Finance | Yes | Full verification |
| Export Finance | Yes | Full verification |
| Domestic Trade | Recommended | Basic verification |
| International Trade | Mandatory | Enhanced verification |
Best Practices
- Register Early: Obtain LEI before submitting financing requests
- Keep Current: Update LEI information promptly when company details change
- Monitor Expiry: Don't let LEI lapse; set calendar reminders
- Verify Accuracy: Ensure all LEI information matches legal documents exactly
- Renew in Advance: Renew at least 30 days before expiry
Cost and Timeline
LEI Registration Costs
- First-year registration: $50-150 (varies by LOU)
- Annual renewal: $40-100
- Multi-year discounts available
- Transfer fees: $25-50
Processing Timeline
- New LEI: 1-5 business days
- LEI renewal: 1-2 business days
- Information updates: 2-3 business days
- Transfer: 3-5 business days
Troubleshooting
Q: My LEI shows as "Lapsed". What should I do? A: Click Renew LEI immediately. Lapsed LEIs can be renewed, but may delay your financing requests.
Q: I have an LEI from another provider. Can I use it? A: Yes, enter your existing LEI code. The system will verify it against the global database.
Q: My company name changed. How do I update my LEI? A: Submit an update request with supporting documents showing the legal name change (merger/acquisition documents, court order, etc.).
Q: Do subsidiaries need separate LEIs? A: Yes, each legal entity requires its own LEI, even if part of a corporate group.
Q: My LEI application was rejected. What now? A: Review the rejection reason, correct the issues (usually documentation or information mismatch), and resubmit.
Additional Resources
- GLEIF (Global Legal Entity Identifier Foundation): Official LEI information
- LEI Search: Verify any LEI at lei-lookup.com
- Support: Contact CLIQ support for LEI-related questions
- FAQ: Complete LEI frequently asked questions in help center