An LEI may only be valid for a single year at a time to ensure data will remain fresh and active. Fortunately RapidLEI has pioneered multi-year LEIs by automating the LEI renewal process, essentially allowing applicants to register LEI Numbers for up to five years. The renewal automation makes sure your LEI data remains fresh and in compliance with GLEIF standards, but does not require onerous renewal actions for our customers.
When you purchase multi-year, 60 days before the anniversary of the Next Renewal Date we will automatically contact you and ask you to confirm that all the legal entity reference data remains the same. If still the case then all you need to provide is a single click to confirm and our verification logic will double check with the appropriate business registry. With multi-year LEIs there’s no additional fees to pay and no invoice processing.