The insurance penetration is a percentage ratio calculated by dividing the gross written insurance premium (GWP) to the gross domestic product (GDP) of a country (or other areas) for a certain time period (usually for one year). This ratio shows how much a given society allocates for covering the various risks which surround it, or […]
The insurance premium is the sum of money paid for activating an insurance policy and covering certain risks for an asset. It is usually quoted as a percentage of the value of the asset and the risks which are covered by the insurance policy. The amount/percentage of the insurance premium is closely linked with the […]
The lease, or leasing term, is the duration of the leasing transaction. This is the term for which the lessee has the right to use the leasing asset against payments, as per the terms of the leasing contract. The leasing term begins from the conclusion of the lease contract or the delivery of the leasing […]
The leasing asset is the subject of the lease. This is the asset which the lessor purchases from the vendor and provides to the lessee under the terms of the lease. Not all assets, which are sold may become leasing assets. The most important requirements for the leasing asset are that it be a long-term […]
A company whose main activity is leasing leasing assets. In Bulgaria, the leasing companies are registered by the Bulgarian National Bank, which maintains a Register of all operating leasing companies in the country.
The Program “Lend-Lease” is a US program which was active in the period 1941 – 1945. This was the main way for USA to support its allies in WWII with machines and equipment. The countries who have received support through the Lend-Lease Program were 36 with total deliveries amounting to USD 48 billion /amounting today […]
The lessee is the user of the leasing service. The lessee acquires the right to use the leased asset against payment of lease payments.
One of the parties to the leasing transaction. It is a company (usually a leasing company) which renders assets for use for a specific period of time against payment, under the terms of a leasing contract, to a lessee.
“Operating leasing” or “Operational leasing” or “Op Lease” is a leasing transaction where the lessor does not transfer to the lessee all the rights and rewards of ownership over the leasing asset.
See “Contract Hire”
