Organizational Identity Become a vLEI Issuer (QVI)

Lifecycle of a Qualified vLEI Issuer

From the initial application through to annual verification, GLEIF outlines a clear lifecycle for a Qualified vLEI Issuer:

Offboarding Process
The offboarding process for a QVI is triggered by any of the following six scenarios:

  1. The QVI informs GLEIF of its termination of the Qualification Agreement.

  2. GLEIF informs the QVI of its termination of the Master Agreement.

  3. The QVI is prevented from performing its operations and duties due to force majeure or any other significant event.

Once the offboarding process is initiated and the QVI’s legal-entity clients have been notified, GLEIF will revoke the QVI's vLEI credential. The QVI’s clients will have a 90-day grace period to contact another QVI and obtain new credentials.

GLEIF’s goal is to ensure a smooth transition of vLEI services from the terminated QVI to a new QVI, and it will assess communications and other requirements on a case-by-case basis.