STEP 3
Lease Agreement, Sales Contract & Supplementary Agreements preparation and acceptance (Advance payment Agreement, Insurance Agreement, etc.)
At this stage Customer's Application is approved by the Company and both parties sign the Lease Agreement, multiparty Sales Contract (between SALCO, the Customer and the Equipment Vendor/Supplier) and Supplementary Agreements (Advance payment Agreement, Insurance Agreement, etc.).
The Lease Agreement fixes the exact description of the equipment to be leased, lease term and other essential conditions (obligations of the customer to maintain and operate the leased equipment according to the requirements of the manufacturer, maintain the equipment in a proper condition and so on). Besides, it indicates the procedure of transferring the equipment to the Customer's ownership and possession after the Customer has paid up the total value of the Lease Agreement.
The Lease Agreement also stipulates SALCO obligations to purchase the equipment requested by the Customer from a particular Vendor.
The Lessee shall independently determine the Vendor of the equipment. We can help the customer by providing information on the Vendors with which we have had a successful Sales Contracts; however, the final choice of the Vendor is up to the Customer. By choosing the equipment Vendor independently, the Lessee undertakes the risks connected with insolvency of the suppliers and their default on conditions of the equipment Sales Contract. The conditions of equipment delivery are also determined by the Vendor and the Lessee independently.
According to the Russian legislation the title to present claims to the Vendor related to equipment delivery and maintenance thereof will be assigned by SALCO to the Customer.
The Lessee receives completely customs-cleared equipment, while SALCO shall bear full responsibility for effecting all customs formalities.
The appendix to the Lease Agreement specifies a Schedule of Lease payments, which the Customer should make on a monthly / quarterly basis.
