Organizational Identity Become a vLEI Issuer

Lifecycle of a vLEI Issuer

From the initial application through to annual verification, GLEIF outlines a clear lifecycle for a vLEI Issuer, also referred to as a Qualified vLEI Issuer (QVI):

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

  1. The vLEI Issuer informs GLEIF of its termination of the Qualification Agreement.

  2. GLEIF informs the vLEI Issuer of its termination of the Qualification Agreement.

  3. The vLEI Issuer 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 vLEI Issuer's legal-entity clients have been notified, GLEIF will revoke the vLEI Issuer's vLEI credential. The vLEI Issuer's clients will have a 90-day grace period to contact another vLEI Issuer and obtain new credentials.

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