What are the steps involved in a lease transaction ?

• The prospective lessee selects the machinery/equipment, finds the supplier and negotiates the price. Because the lessee has full understanding of the technical requirements of the required asset (s).

 

• The lessee makes an application to Tecnolease for lease facility giving details of the business, its nature, range of products, legal status and ownership profile along with the following documents:

  (a) Last two to three year's financial statements i:e ,income statements , balance sheets and cash flow statements (audited) along with latest management accounts.
  (b) Latest three months bank statements.
  (c) Commercial registration .

• The lease terms and conditions are negotiated and then Tecnolease issues a lease offer specifying the terms and conditions of the offer.

 

• The lessee accepts the proposal and Tecnolease processes the lease transaction, obtains internal credit approval and releases lease documentation,

 

• The lessee completes the lease documentation and Tecnolease issues a purchase order to the supplier and on delivery and acceptance by the lessee makes payment directly to the supplier.