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Equipment Leasing & lease financing
What is equipment leasing in the context of banking and finance?
Equipment leasing is a contractual arrangement where the lessor (owner) grants the lessee the right to use an asset for a specified period in exchange for periodic rental payments, without transferring ownership.
What is the 'primary period' in a lease agreement?
Initial non-cancellable period during which lease rental is paid.
What is the key difference between a finance lease and an operating lease?
A finance lease transfers substantially all risks and rewards of ownership to the lessee, whereas an operating lease does not transfer ownership risks and is essentially a rental arrangement for a shorter term.
What is a 'secondary period' in equipment leasing?
Optional renewal period after the primary lease term expires.
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