Let’s wrap up our leasing terms and definitions series. We first gave an overview of equipment leasing in general, and then got into terms, phrases, and definitions. That was pretty interesting because I’m sure a lot of folks didn’t realize terms like “monthly rent” applied to equipment leases as well. We then got into the wear and tear… Read More »
Let’s continue the lease series with insurance. I know, I know, it’s a boring topic, and nobody likes to talk about it, but it’s necessary and will be required in your lease agreement. There are several types of insurance your lease agreement may require, and the exact types will depend on the leased equipment, the terms, usage, and… Read More »
For our ongoing series on equipment lease terms, phrases, and details, let’s discuss the maintenance and repair of your leased equipment. For simplicity, we can call this the “wear and tear” clause. The general purpose of this clause is related to the residual value I mentioned last post. When a lease agreement is made, the Lessor (that’s us)… Read More »
In our ongoing series of getting into the details of equipment leasing agreements, I thought I’d start out with the basics: explaining and defining several notable equipment leasing terms. I’m going to stick to just a few essential terms that are important – you will find these all throughout any lease agreement, especially in the fine print. Lease… Read More »
Equipment leasing and equipment financing are often seen as similar, and in a big picture sense, they are (you get equipment, and you make payments on it). But the details of the two are quite different, with equipment leasing having many more moving parts and somewhat arcane terms. For the next few posts, I’d like to go over… Read More »