Financial Lease Agreement non-NCA

R 593,00

A lender that finances goods (such as vehicles, equipment, office furniture etc) for people on a financial rental basis can use this Financial Lease Agreement. The Agreement makes provision for the payment of a rental over a specific term with regular payment obligations, and ownership in the goods passes to the lessee at the end of the rental period, if this is what the lender and borrower agree.

Note: This Agreement is intended for use in cases where the National Credit Act does not apply. Specialist advice should be sought in cases of uncertainty.

Description

FINANCIAL LEASE AGREEMENT

Non-NCA

Summary A lender that finances goods (such as vehicles, equipment, office furniture etc) for people on a financial rental basis may consider using this Financial Lease Agreement. Provision is made for ownership in the Goods to pass to the lessee at the end of the rental period, if this is what the lender and borrower agree.

Note: This Agreement is intended for use in cases where the National Credit Act does not apply. Specialist advice should be sought in cases of uncertainty.

Why would I need a Financial Lease Agreement? This Financial Lease Agreement may be used when a lender finances goods for someone else, on the basis that ownership in the goods may pass to the lessee at the end of the period. For example, computers, furniture, audio goods, vehicles etcetera. This Fin Lease Agreement makes provision for the payment of a rental over a specific term with regular payment obligations.

Before signing this agreement, the financier is advised to conduct a comprehensive credit check on the borrower, and get the borrower to complete a separate application form for a credit facility.

What does the Financial Lease Agreement say? This Financial Lease Agreement covers the following issues: Duration; Rental, Fees and Rates; Early Settlement; Goods, Delivery and Ownership; Repairs and Maintenance; Damages and Insurance; Encumbrances; Breach and General

How long is the Financial Lease Agreement? This Finance Agreement can be printed onto six A4 pages.

What do you need to do to use the Financial Lease Agreement?

  • Read the template agreement to ensure that it suits your requirements. Make changes as required.
  • Complete the relevant details in the Financial Lease Agreement.
  • Ensure that the documents are signed by both the financier and the borrower.

This Agreement is intended for use in cases where the National Credit Act does not apply. We recommend that you obtain specialist advice before using a Financial Lease Agreement.

Also known as: Finance Agreement; Lease Agreement; Financial Rental Agreement; Rent-to-Own Agreement

Also viewed: Financial Lease Agreement

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