Leasing Term # 157(b) – Notification: New Owners, Partners & Structures
Companies must notify the leasing company of a change in ownership or corporate structure. This is another notification requirement you don’t want to forget about If you do, it will cost you.
Leasing Term # 157(a) – Notification: Moving? Ask permission.
Equipment leases require the customer to notify the leasing company when certain events occur during the life of the lease. Miss any notices and you’ll pay the piper!
Leasing Term #195 – In-Place, In-Use Fair Market Value
In-Place, In-Use Fair Market Value is an inclusive term that results in a higher purchase price than customers are expecting for equipment at the end of the lease. It is not the same as a used equipment price, often includes additional costs, and is especially critical in complex equipment installations.
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