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Leasing Glossary

- G -

  • General Terms of Contract

    Contract signed at the beginning of the cooperation by all involved parties and establishes the rights and obligations being derived from same.

- L -

  • Leasing or Financial Leasing

    It is a financial tool designed for businesses and self-employed professionals for the acquisition and use of fixed assets (equipment, real estate, transport) for production or investment purposes.

  • Lessor

    The Leasing Company, which grants the use, but retains the ownership of the Leasing object until the expiry of agreed duration under specific terms.

  • Lessee

    The Customer or counter contracting party that assumes the use of the equipment / property for an agreed lease amount.

  • Leasehold

    The Leasing object (property, equipment or means of transport).

  • Lease amount

    The amount prescribed by the contract (usually monthly) for use of the fixed asset.

  • Lease Commencement

    The signing date of the annex (with simultaneous delivery of the fixed asset).

  • Lease Expiration

    The end of agreed leasing period (with the simultaneous transfer of the fixed asset to the lessee).

- O -

  • Operating leasing or Long-term Leasing

    Concerns the leasing of equipment or means of transport, the operating expenses and any other service related to this, to cover the lessee’s operating needs for a limited duration and under specific terms.

  • Overdue Lease amount

    The lease that is paid at the end of the agreed period.