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Finance Agreement – Financial Lease Agreement

Finance Agreement – Financial Lease Agreement

stars Over 10,000 Happy South African Businesses

R 1 906,30

This agreement allows lenders to finance goods for rent-to-own with ownership transfer option. Complies with the National Credit Act.

  • Lower upfront costs.
  • Flexibility in ownership transfer.
  • Potential tax benefits.
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How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.

Our Clients & Partners

FINANCIAL LEASE AGREEMENT

With a Pre-Agreement Proposal

(in terms of the NCA)

Summary A Financial Lease Agreement is intended to be used by a lender that finances goods (such as vehicles, equipment, office furniture etc) for people on a financial rental basis. 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.

The NCA-required Pre-Agreement Quotation is included with this document.

Why would I need a Financial Lease Agreement? A Finance Agreement may be used when a person 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, giving finance for computers, furniture, audio goods, vehicles etc. This Finance Agreement provides for the payment of a rental for a specific term with regular payment obligations.

What does the template agreement say?

The Pre-Agreement Proposal addresses: Description of goods; Finance details; Finance term; Rental; Residual value.

The Financial Lease Agreement addresses: Definitions; Suspensive Conditions; Lease of Goods; Delivery and Risk; Insurance; Security; Use; Fees and Charges; Interest; Rentals; Early termination; Customer warranties and undertakings; Default; Consents; Delivery address; General.

The Pre-Proposal Quotation and Finance Agreement have been drafted in accordance with our interpretation of the National Credit Act.

How long is the Financial Lease Agreement? The template Pre-Agreement Proposal can be printed onto three pages, and the template Financial Lease Agreement can be printed onto ten pages.

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

  • Read the template documents to ensure that they suit your requirements. Make changes as required.
  • Complete the relevant details in the Pre-Agreement Proposal and the Finance Agreement as they pertain to the borrower.
  • Ensure that the documents are signed by both the financier and the borrower.

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

Also viewed: Instalment Sale Agreement

This Agreement is intended to be used in transactions where the National Credit Act applies. While it has been drafted in accordance with our interpretation of the legislation, we recommend that you obtain independent advice before using a Financial Lease Agreement. Agreements Online will not be liable for any damages you may suffer due to non-compliance with any regulatory requirements.

Synonymous with: Finance Agreement; Lease Agreement; Financial Rental Agreement; Rent-to-Own Agreement; Loan Agreement

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.

How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.

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FINANCIAL LEASE AGREEMENT

With a Pre-Agreement Proposal

(in terms of the NCA)

Summary A Financial Lease Agreement is intended to be used by a lender that finances goods (such as vehicles, equipment, office furniture etc) for people on a financial rental basis. 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.

The NCA-required Pre-Agreement Quotation is included with this document.

Why would I need a Financial Lease Agreement? A Finance Agreement may be used when a person 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, giving finance for computers, furniture, audio goods, vehicles etc. This Finance Agreement provides for the payment of a rental for a specific term with regular payment obligations.

What does the template agreement say?

The Pre-Agreement Proposal addresses: Description of goods; Finance details; Finance term; Rental; Residual value.

The Financial Lease Agreement addresses: Definitions; Suspensive Conditions; Lease of Goods; Delivery and Risk; Insurance; Security; Use; Fees and Charges; Interest; Rentals; Early termination; Customer warranties and undertakings; Default; Consents; Delivery address; General.

The Pre-Proposal Quotation and Finance Agreement have been drafted in accordance with our interpretation of the National Credit Act.

How long is the Financial Lease Agreement? The template Pre-Agreement Proposal can be printed onto three pages, and the template Financial Lease Agreement can be printed onto ten pages.

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

  • Read the template documents to ensure that they suit your requirements. Make changes as required.
  • Complete the relevant details in the Pre-Agreement Proposal and the Finance Agreement as they pertain to the borrower.
  • Ensure that the documents are signed by both the financier and the borrower.

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

Also viewed: Instalment Sale Agreement

This Agreement is intended to be used in transactions where the National Credit Act applies. While it has been drafted in accordance with our interpretation of the legislation, we recommend that you obtain independent advice before using a Financial Lease Agreement. Agreements Online will not be liable for any damages you may suffer due to non-compliance with any regulatory requirements.

Synonymous with: Finance Agreement; Lease Agreement; Financial Rental Agreement; Rent-to-Own Agreement; Loan Agreement

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.