Leicodeaustralia.com Reviews

Based on looking at the website leicodeaustralia.com, it appears to be a platform for registering and renewing Legal Entity Identifiers LEIs in Australia.

While the service itself, which involves identifying legal entities for financial transactions, might seem straightforward, it’s important to approach any financial service with a critical eye, especially when it touches upon complex financial instruments and regulations.

From an ethical standpoint, engaging with financial markets and their associated complexities should always be done with extreme caution, as many conventional financial practices involve elements like interest riba or speculation, which are not permissible.

Instead of into intricate financial instruments that often come with hidden complexities and potentially impermissible aspects, focusing on simpler, ethical ways to conduct business and manage finances is always a better path.

This includes honest trade, clear transactions, and avoiding anything that leads to ambiguity or excessive risk, which are often inherent in highly regulated financial markets.

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IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Leicodeaustralia.com Review & First Look

Leicodeaustralia.com presents itself as a streamlined platform for obtaining and managing Legal Entity Identifiers LEIs in Australia.

The website emphasizes ease of use, speed, and affordability as its core value propositions for businesses needing to comply with financial regulations.

What is a Legal Entity Identifier LEI?

A Legal Entity Identifier LEI is a 20-character alphanumeric code used to uniquely identify legal entities participating in financial transactions globally.

Its primary purpose is to increase transparency and stability in financial markets by providing a standardized method of identifying parties to transactions.

This system was established in the wake of the 2008 global financial crisis to mitigate systemic risk.

Why LEIs are Required in Australia

In Australia, LEIs are crucial for regulatory compliance, particularly under regulations like the ASIC Derivative Transaction Rules Reporting 2024. Any legal entity engaged in financial market transactions involving securities or derivatives—such as stocks, bonds, ETFs, FX forwards, swaps, and interest rate swaps—is mandated to have an LEI.

The website highlights three key reasons for their necessity:

• Regulatory Compliance: Essential for adhering to local and international financial regulations.
• Risk Management: Improves the understanding of counterparties and helps assess relationships, contributing to financial stability.
• Enhanced Transparency and Trust: Ensures reliable identification of legal entities, reducing fraud and fostering trust in financial transactions.

Initial Impressions of the Website

The website’s design is clean and professional, prioritizing clarity and directness. Key information, such as the application process, pricing, and FAQs, is readily accessible. It provides real-time statistics, including the number of applications received in the last seven days and cumulative LEIs in Australia, which lends an impression of activity and scale. For instance, the site states 2,505 applications received in the last 7 days and a cumulative sum of 42,217 LEIs in Australia by 2024, rising from 21,709 in 2020. Globally, there are over 2.9 million LEIs. This data aims to build user confidence in the service’s reliability and widespread adoption.

Leicodeaustralia.com Cons & Considerations

While Leicodeaustralia.com aims to simplify the LEI registration process, it’s crucial to consider potential drawbacks and inherent issues related to the underlying financial activities that necessitate an LEI.

The Nature of LEIs and Financial Markets

The very existence of LEIs stems from the complex and often speculative nature of modern financial markets, particularly those involving derivatives and securities. Labcharge.com Reviews

These markets frequently operate on principles that clash with ethical financial guidelines, such as:

• Riba Interest: Many financial instruments, including bonds and certain derivatives, are fundamentally built on interest-based transactions, which are impermissible.
• Gharar Uncertainty/Speculation: Derivatives, by their nature, involve significant uncertainty and speculative elements, often resembling gambling, which is strictly forbidden. The value of these instruments is derived from an underlying asset, and their trading can involve high levels of risk and speculation rather than productive economic activity.
• Maysir Gambling: The high-risk, high-reward nature of some derivative trading can lead to outcomes akin to gambling, where wealth is transferred without real economic effort or benefit.

Lack of Transparency in Underlying Activities

While the LEI itself is designed to increase transparency about legal entities, it does not inherently make the financial activities these entities engage in transparent from an ethical perspective.

A business might obtain an LEI for activities that are questionable or outright forbidden.

The website, naturally, focuses on the compliance aspect rather than the ethical implications of the financial instruments themselves.

Dependency on Complex Regulatory Frameworks

The need for an LEI is driven by intricate regulatory frameworks.

While compliance is necessary in the conventional system, it highlights the complexity and often burdensome nature of modern finance.

Businesses are compelled to navigate these systems, often at a cost, to participate in markets that may not align with ethical principles.

Alternatives to Engaging in Speculative Finance

Instead of focusing on compliance for activities that may be ethically questionable, businesses should explore alternatives that promote honest and productive economic engagement.

• Direct Trade: Focus on direct buying and selling of goods and services, where value is clearly exchanged without speculative elements.
• Ethical Investing: Invest in businesses that align with ethical principles, avoiding those involved in interest, gambling, or other impermissible activities. This could include real estate, halal equities, or direct investments in sustainable industries.
• Halal Financing: Seek out financial institutions that offer Sharia-compliant financing options, such as Murabaha cost-plus financing, Ijarah leasing, or Musharakah partnership, which avoid interest and speculative contracts.
• Real Economic Activity: Prioritize business models that contribute genuinely to society and the economy through production, services, and ethical employment, rather than purely financial arbitrage.

By highlighting these points, one can understand that while leicodeaustralia.com offers a service for compliance, the broader context of LEIs often leads back to financial practices that require careful scrutiny from an ethical standpoint.

Leicodeaustralia.com Alternatives

Given the complexities and potential ethical considerations associated with conventional financial markets and the instruments that necessitate LEIs, it’s vital to explore alternatives that align with ethical business practices. Autodekor.com Reviews

Instead of navigating the intricate world of derivatives and securities that often involve interest or speculative elements, businesses can pursue more direct and transparent avenues.

Focusing on Ethical Business Practices

The most significant alternative is to structure business operations in a way that minimizes or eliminates the need for participation in financial markets requiring LEIs. This means prioritizing:

• Direct Sales and Services: Engaging in clear, direct transactions for goods and services where value is exchanged without speculative financial instruments. This fosters a more transparent and understandable business model.
• Asset-Backed Investments: Investing in tangible assets like real estate, equipment, or inventory rather than speculative financial products. This provides a more stable and ethically grounded investment base.
• Partnerships Musharakah/Mudarabah: Instead of interest-based loans or complex financial structuring, businesses can opt for profit-sharing partnerships. In a Musharakah, partners contribute capital and share profits/losses based on pre-agreed ratios. In Mudarabah, one party provides capital, and the other provides expertise and labor, with profits shared. These models promote shared risk and reward, aligning with ethical financial principles.
• Leasing Ijarah: For asset acquisition, ethical leasing arrangements can be used instead of interest-bearing loans. In Ijarah, the lessor owns the asset and leases it to the lessee for a fee, eventually transferring ownership or renewing the lease.

Avoiding Derivatives and Speculative Instruments

The primary driver for needing an LEI is involvement in derivative transactions.

A fundamental alternative is to simply avoid these types of financial instruments altogether.

• Focus on Core Business: Instead of engaging in complex hedging or speculative activities via derivatives, businesses can focus on optimizing their core operations, managing operational risks directly, and building resilience through sound business management.
• Natural Hedging: For businesses exposed to currency fluctuations or commodity price volatility, consider natural hedging strategies, such as matching revenues and expenses in the same currency or securing long-term supply contracts, rather than using financial derivatives.

Seeking Sharia-Compliant Financial Services

For businesses that do require external financing or investment, there are growing options for Sharia-compliant financial services that actively avoid interest riba and excessive speculation gharar.

• Islamic Banks and Financial Institutions: These institutions offer products designed to adhere to ethical principles, such as:
  • Murabaha Cost-Plus Financing: A common ethical financing method where the bank purchases an asset and sells it to the client at a mark-up, with payment in installments, avoiding interest.
  • Takaful Islamic Insurance: An alternative to conventional insurance, where participants contribute to a common fund, providing mutual financial aid in times of need, without elements of interest or excessive uncertainty.
  • Halal Equity Funds: Investment funds that screen companies to ensure their primary activities and financial structures are in line with ethical guidelines, avoiding industries like alcohol, gambling, or conventional finance.

Building Resilience Through Savings and Responsible Growth

Instead of relying on complex financial engineering, businesses can prioritize building strong financial reserves through responsible savings and sustainable growth.

• Retained Earnings: Reinvesting profits back into the business for expansion and stability, reducing the need for external financing that might involve impermissible elements.
• Debt-Free Growth: Striving for growth that is funded by internal capital or ethical equity partnerships, minimizing reliance on interest-based debt.
• Community-Based Funding: Exploring ethical crowdfunding platforms or direct investment from individuals and communities who share ethical values, fostering a more direct relationship between investors and businesses.

By adopting these alternatives, businesses can operate within an ethical framework, focusing on real economic value creation and avoiding the potential pitfalls and complexities often associated with conventional financial markets that necessitate services like LEI registration.

How to Cancel Leicodeaustralia.com Subscription

Based on the information available on leicodeaustralia.com, particularly within their FAQ and implied service model, the concept of “canceling a subscription” isn’t precisely applicable in the way one might cancel a streaming service or a SaaS platform.

Instead, it revolves around the annual renewal process of your Legal Entity Identifier LEI.

Understanding LEI Validity and Renewal

An LEI is valid for one year from its issuance date. To maintain its active status and ensure compliance, it must be renewed annually. If you do not renew your LEI, it will simply lapse or expire. The website states, “After issuance, a Legal Entity Identifier LEI remains valid for one year. To ensure continued validity, the LEI must be renewed annually.” It also warns that “Failing to renew the LEI results in its expiration. This can create issues in financial transactions and reporting obligations, potentially leading to financial institutions rejecting transactions and regulatory non-compliance penalties.” Aexonova.com Reviews

How to “Cancel” or Cease Service

Since leicodeaustralia.com acts as a Registration Agent facilitating LEI registration and renewal, the “cancellation” of their service primarily means not renewing your LEI through their platform.

1. Do Not Renew: The most straightforward way to cease services with leicodeaustralia.com is simply to not proceed with the annual renewal when prompted. You will likely receive email notifications as your LEI’s expiry date approaches. Ignoring these renewal prompts effectively ends your service with them.
2. Transfer Your LEI: If you still require an active LEI but wish to stop using leicodeaustralia.com’s services, you have the option to transfer your LEI to another service provider Local Operating Unit or Registration Agent. The website confirms this flexibility: “You can switch to a new LEI service provider whenever you wish – the Global LEI System supports healthy competition between issuers and registrars for the benefit of legal entities. The transfer of an LEI is costless and can be completed within seven days.” This process involves initiating a transfer with the new provider, who will then handle the management of your LEI. Leicodeaustralia.com even has sections on their site about transferring LEIs, indicating it’s a common process.
3. Contact Support for Clarification: If you have any ongoing contracts for multi-year renewals or specific concerns, the best approach is to contact their customer support. They offer “24/7 support,” and their website email is provided in various sections for inquiries. They can clarify the terms of any existing agreements and guide you on the non-renewal or transfer process.

Important Considerations:

• Multi-Year Plans: If you opted for a multi-year LEI plan with leicodeaustralia.com, you might have paid in advance for several years of renewals. In such cases, simply not renewing won’t affect the LEI’s validity until the pre-paid period expires. If you wish to stop their service mid-contract, you would need to inquire with their support about any potential refunds or pro-rated cancellations, though such provisions are not explicitly mentioned on their general service pages.
• LEI Status: Remember that letting your LEI lapse could have significant consequences for your ability to conduct financial transactions. Ensure you understand these implications before deciding not to renew or transfer. For example, the website states, “financial institutions transactions and regulatory non-compliance penalties.”

In essence, “canceling” leicodeaustralia.com’s service means either letting your LEI expire if you no longer need one or transferring its management to a different LEI service provider.

Leicodeaustralia.com Pricing

Leicodeaustralia.com positions itself as a cost-effective solution for LEI registration and renewal, specifically highlighting potential savings for multi-year plans.

While explicit pricing tables aren’t always front and center, the site alludes to “Low fees” and the benefit of “saving on renewals by opting for multiyear plans.”

General Pricing Model

LEI registration and renewal fees typically vary based on the service provider and the duration of the registration.

Registration agents like leicodeaustralia.com often charge a service fee on top of the actual LEI fee charged by the Local Operating Unit LOU that issues the LEI.

Common Pricing Structures for LEI Services

Based on general industry practices for LEI registration agents, you can expect pricing to follow these models:

• Annual Registration/Renewal: A set fee for registering or renewing an LEI for one year. This is the most basic option.
• Multi-Year Plans: Discounts are usually offered for committing to multiple years of LEI validity. Common options include 3-year or 5-year plans. These plans bundle the annual renewal fees, often leading to a lower effective annual cost compared to renewing year by year. This is the “saving on renewals” that leicodeaustralia.com mentions. For example, a 3-year plan might offer a 10-15% discount over three individual annual renewals, while a 5-year plan could offer 20-25% savings.
• Transfer Fees: Some providers might charge a small fee for transferring an LEI from another provider, though leicodeaustralia.com explicitly states, “The transfer of an LEI is costless and can be completed within seven days,” implying they do not charge for incoming transfers. This is a competitive advantage.

Factors Influencing Price

The actual price you pay for an LEI can depend on several factors:

• Provider’s Service Fee: Each registration agent sets its own service fee.
• LOU Fees: The underlying fee charged by the GLEIF-accredited Local Operating Unit LOU that issues and maintains the LEI. These fees are standardized but passed on by the agent.
• Duration: As mentioned, multi-year plans are generally more economical.
• Additional Services: Some providers might offer value-added services e.g., portfolio management tools, data insights that could be bundled at a higher price, though leicodeaustralia.com focuses purely on registration/renewal.

How to Find Specific Pricing on Leicodeaustralia.com

While precise numbers aren’t immediately visible on the homepage, prospective users would typically find the specific pricing structure during the “Apply for LEI” or “Renew LEI code” process.

During this step, the website would present the different options 1-year, 3-year, 5-year, etc. and their corresponding costs before final confirmation. Gadgetgogo.co.uk Reviews

Look for a “Pricing” or “Fees” section in the navigation menu or directly within the application flow.

Considerations for Pricing

When evaluating pricing, always compare the total cost over several years rather than just the first year’s fee.

While multi-year plans offer savings, ensure your business needs will remain consistent for that period. Also, consider the convenience and support offered.

Leicodeaustralia.com highlights “24/7 support” as part of their service package, which contributes to the overall value proposition beyond just the raw price.

It’s important to understand that the pricing is for a service facilitating regulatory compliance for financial transactions.

While obtaining an LEI is a necessary step for businesses involved in specific financial markets, the underlying activities should always be scrutinized for their ethical permissibility before committing to such compliance costs.

Leicodeaustralia.com vs. Competitors

When evaluating leicodeaustralia.com, it’s helpful to compare its offerings against other prominent Legal Entity Identifier LEI service providers and registration agents in the global and Australian markets. The LEI system is standardized globally by the Global Legal Entity Identifier Foundation GLEIF, meaning the LEI code itself is identical regardless of who issues or manages it. The differentiation among providers primarily comes down to cost, efficiency, customer support, and user experience.

Key Competitors and Market Landscape

The LEI market consists of two main types of entities:

1. Local Operating Units LOUs: These are the official LEI issuers accredited by GLEIF. Examples include RapidLEI Ubisecure Oy, Nasdaq CSD, Bloomberg, LSE London Stock Exchange Group, etc. Leicodeaustralia.com partners with LOUs like Ubisecure Oy RapidLEI and Nasdaq CSD SE, operating as a “Registration Agent.”
2. Registration Agents: These entities, like leicodeaustralia.com, do not issue LEIs directly but act as intermediaries, simplifying the application, renewal, and transfer process for legal entities by interacting with LOUs on their behalf. They add value through user-friendly interfaces, dedicated customer support, and potentially competitive pricing.

Leicodeaustralia.com’s Strengths Compared to Competitors

• Streamlined Process & Speed: Leicodeaustralia.com emphasizes a “seamless registration process that takes just a few minutes” and claims to assign an LEI within 24 hours, with validation possibly taking up to 48 hours for parental data. Many competitors also aim for speed, but leicodeaustralia.com highlights this as a core competitive advantage.
• Competitive Pricing Multi-Year Savings: The site promotes “low fees” and significant savings through multi-year plans. This is a common strategy among registration agents, but leicodeaustralia.com positions it as a key differentiator. Many agents offer similar discounts, so direct price comparison during the application process is crucial.
• 24/7 Customer Support: Offering round-the-clock support is a strong selling point, especially for a global service. Not all smaller registration agents provide this level of continuous availability. This can be crucial for resolving issues quickly, especially when dealing with compliance deadlines.
• Cost-Free LEI Transfer: Leicodeaustralia.com explicitly states that LEI transfers are “costless.” This is a significant advantage as some providers might charge a small fee for handling incoming transfers. The ease and cost-free nature of transfers promote competition and flexibility for the customer.
• User-Friendly Interface: The website’s clean design and clear communication suggest a focus on user experience, aiming to make a complex regulatory process simpler.

Areas for Comparison / Potential Challenges

• Direct LOU vs. Registration Agent: While leicodeaustralia.com simplifies the process, some larger entities or those with complex requirements might prefer to deal directly with an LOU. However, for most businesses, a competent registration agent like leicodeaustralia.com offers sufficient simplification.
• Value-Added Services: Some larger LOUs or registration agents might offer additional features beyond basic LEI management, such as LEI data management tools, API integrations, or broader compliance consulting. Leicodeaustralia.com focuses specifically on the LEI service itself.
• Geographic Focus: While an LEI is globally valid, leicodeaustralia.com specifically targets the Australian market as an “OFFICIAL REGISTRATION AGENT IN AUSTRALIA.” Other global providers may have broader regional support teams or language options.

Examples of Other LEI Service Providers:

• RapidLEI Ubisecure Oy: A major LOU known for its high volume and technologically advanced platform. Leicodeaustralia.com is a registration agent for them.
• GLEIF-Managed LOUs: Such as Bloomberg, London Stock Exchange LSE, WM Datenservice, etc., which are direct LEI issuers.
• Other Registration Agents: Numerous other registration agents exist globally, often specializing in different regions or offering slightly varied service packages e.g., LEI Register, LEI Worldwide, Global LEI.

When choosing an LEI provider, businesses should not only compare prices and features but also ensure that the provider’s practices align with their overall operational and ethical considerations, focusing on transparency and avoiding any engagement with interest-based systems.

Understanding the LEI Code Structure

The Legal Entity Identifier LEI is a 20-character alphanumeric code designed to provide a unique and globally recognized identifier for legal entities involved in financial transactions. Its structure is standardized under ISO 17442, ensuring consistency and reliability across the globe. Understanding this structure helps in verifying the code’s authenticity and grasping how it identifies entities within the global LEI database. Therangehoodstore.com Reviews

Breakdown of the 20-Character Code

The LEI code is divided into three main parts, each serving a distinct purpose:

1. Characters 1-4: LOU ID Local Operating Unit Identifier

   • These first four digits represent the unique identifier of the Local Operating Unit LOU that issued the LEI code.
   • Each LOU, which is accredited by the Global Legal Entity Identifier Foundation GLEIF, has a distinct four-character identifier. This part of the code immediately tells you which organization is responsible for issuing and maintaining that specific LEI.
   • For example, if leicodeaustralia.com partners with Ubisecure Oy RapidLEI, their LEIs would start with RapidLEI’s LOU ID.

2. Characters 5-18: Entity Identifier Unique Entity Code

   • This is the core of the LEI, consisting of 14 alphanumeric characters.
   • This section is unique to each legal entity within the global database. It’s the part that specifically identifies a company, fund, or organization.
   • The combination of these characters ensures that no two legal entities worldwide share the same LEI, providing a robust system for identification. This is crucial for distinguishing between entities that might have similar names or operate in the same sector.

3. Characters 19-20: Verification Digits

   • These final two digits are generated using an algorithmic formula, as described in the ISO 17442 standard.
   • They act as a checksum, similar to how credit card numbers or ISBNs are validated. Their purpose is to detect errors that might occur during data entry or transmission.
   • When an LEI is entered into a system, an algorithm performs a calculation based on the first 18 characters. The result is then compared with these two verification digits. If they match, it confirms the LEI’s structural validity.

Example of an LEI Structure Hypothetical:

1234 A1B2C3D4E5F6G7 89

• 1234: LOU ID e.g., representing a specific LOU like RapidLEI
• A1B2C3D4E5F6G7: Unique Entity Identifier identifying a specific company
• 89: Verification Digits checksum

Significance of the Structure

The standardized LEI structure allows for:

• Global Recognition: Any financial institution or regulatory body worldwide can interpret and validate an LEI, regardless of where it was issued.
• Data Integrity: The verification digits help maintain the accuracy of the LEI data, reducing errors in financial reporting and transaction records.
• Traceability: By knowing the LOU ID, one can easily identify the source of the LEI and potentially access more detailed information about the issuing process or the entity.
• Enhanced Transparency: The structured, publicly available nature of LEI records including entity name, address, and ownership structure contributes significantly to market transparency and the identification of parties in financial transactions, reducing fraud and improving risk management.

This robust structure is fundamental to the LEI’s role in creating a more transparent and stable global financial system, by providing a verifiable digital identity for legal entities.

Frequently Asked Questions

A Legal Entity Identifier LEI is a 20-character alphanumeric code that uniquely identifies legal entities involved in financial transactions worldwide, standardized under ISO 17442.

Who needs to obtain an LEI in Australia?

Legal entities in Australia must obtain an LEI if they conduct transactions on a regulated market, multilateral facility, or other platforms, especially if engaging in financial market transactions involving any form of securities or derivatives e.g., stocks, bonds, ETFs, FX forwards.

How long does it take to obtain an LEI from leicodeaustralia.com?

Leicodeaustralia.com typically assigns your LEI number within 24 hours. Outback.com Reviews

Validating parental Level 2 and fund relationship data may extend this to up to 48 hours.

How long is an LEI valid for?

An LEI is valid for one year from its issuance date.

To ensure continued validity, it must be renewed annually.

What happens if I don’t renew my LEI?

If you fail to renew your LEI, it will expire or lapse.

This can lead to issues in financial transactions, potential rejection of transactions by financial institutions, and regulatory non-compliance penalties.

Is an LEI valid globally?

Yes, a Legal Entity Identifier LEI is a universal, public identifier recognized and valid across all jurisdictions worldwide.

What details are contained within an LEI record?

An LEI record is public and contains information about a legal entity, such as its legal name, legal address, ownership structure, and other details that help identify the entity and its relationships with other organizations.

It also includes information about the LEI issuer and the status of the LEI.

How can I check the validity of an LEI?

You can check the validity of an LEI by visiting the Global Legal Entity Identifier Foundation GLEIF website and using their Global Index search tool, or by using the search tool provided on leicodeaustralia.com.

Who issues LEI codes?

LEI codes are issued by Local Operating Units LOUs accredited by GLEIF. Mcdonalds.com Reviews

Registration Agents like leicodeaustralia.com do not issue codes directly but assist legal entities in the registration, renewal, and transfer process.

Can an LEI be transferred to a new service provider?

Yes, you can transfer your LEI to a new service provider at any time.

The transfer process is typically costless and can be completed within seven days, as stated by leicodeaustralia.com.

Can you obtain an LEI for a Trust?

Yes, LEI applications for Trusts are accepted.

If the Trust is not registered with an official Registration Authority, you can enter “N/A” for the company number.

What documents are required to obtain an LEI for a Trust?

To obtain an LEI for a Trust, you need to provide supporting documentation that verifies the legal name, legal address, main creation date, and the names of the Trustees, such as a Trust Deed or an establishing agreement.

How do I “cancel” my service with leicodeaustralia.com?

To cease service, you simply do not renew your LEI through their platform when it approaches its annual expiry date.

If you still need an LEI, you can transfer it to another service provider.

Does leicodeaustralia.com offer multi-year LEI plans?

Yes, leicodeaustralia.com indicates they offer multi-year solutions, which allow for extended validity periods and typically result in cost savings on renewals compared to annual renewals.

What are the main benefits of using leicodeaustralia.com?

Leicodeaustralia.com highlights fast registration, low fees especially with multi-year plans, and 24/7 customer support as its main benefits. Blockincbtc.com Reviews

Is leicodeaustralia.com an official LEI issuer?

No, leicodeaustralia.com is a Registration Agent.

They partner with official Local Operating Units LOUs like Ubisecure Oy RapidLEI and Nasdaq CSD SE to facilitate the LEI registration and renewal process.

Why was the LEI created?

The LEI was created after the 2008 global financial crisis to establish a global standard for uniquely identifying legal entities in financial transactions, aiming to reduce risk and increase transparency in the global financial system.

What is the structure of an LEI code?

An LEI code is 20 characters long.

The first four digits identify the LEI issuing organization LOU ID, the next 14 characters uniquely identify the legal entity Entity Identifier, and the final two digits are verification checksums.

Can I renew an expired LEI?

Yes, an expired or lapsed LEI can be renewed at any time.

How does leicodeaustralia.com ensure secure payments?

Leicodeaustralia.com states they use secure payments via Braintree, a PayPal service, and are matched with ABR Australian Business Register to ensure secure transactions.