leasing broker

Purchase and handover

покупка на лизингов актив

Leasing practice

Step 8 – Purchase and acceptance of the leasing asset

This step in the leasing practice is the responsibility of the lessor. Actually this is probably his main responsibility under the leasing contract.

Once the lessor receives the initial payment, he starts the purchase of the leasing asset from the selected vendor. The length of this leasing stage depends very much on the leasing asset. For some assets (for example a new standard car), the purchase is usually fairly easy and fast. For others (for example, specialized industrial equipment) the purchase begins with an order to produce the asset and this stage can last for months.

As a result of the purchase, the lessor becomes the owner of the leasing asset, which he subsequently leases to the lessee.

Formally, once the leasing asset is available for delivery by the vendor, two steps of the take-over are followed. The first is the transfer of the asset by the supplier and its acceptance by the lessor-owner and the second is the transfer of the asset by the lessor to the lessee. The pass-through process is important because, in its execution, the party which receives the asset makes a complete review of completeness, defects and compliance with the specifications. It is possible for both phases of the acceptance process to be merged into one, where the provider transfers the asset directly to the lessee.

Upon acceptance of the asset an “Acceptance Protocol” is signed, which certifies the performance of this action, as well as any comments or remarks made during the hand-over process that may be subject to remedy. It is important for the lessee to carefully inspect the leasing asset before signing the acceptance protocol. In the event of irregularities or omissions found, it is entirely possible to describe them in the acceptance report, for subsequent re-equipment or repair.

The acquisition of a leasing asset, depending on its type, may require registration. After the purchase of the leasing asset, the lessor undertakes all necessary actions to register the asset with the respective authorities. In the most standard cases, when purchasing a car, the registration is done at the Traffic Police where the registration certificates and vehicle license plates are received. A little more complicated is the purchase of a used car, which involves the purchase of the car infront of a notary. An even more complex transaction is the purchase of a real estate, where a number of documents are needed and again the intervention of a notary again. For some types of equipment, it is possible to have much more complex registration regimes where it will also be necessary to involve the lessee (heavy vehicles for international transport, specialized vehicles or equipment, medical radiology equipment, etc.).

Upon receipt of the leasing asset by the lessee, the initial stages of the leasing transaction have been done. Now the “servicing” of the leasing transaction begins.

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