This list provides answers to our most frequently asked questions. For more information about CORPLEASE, or if you need support, please call us at 19490.
It is a contractual, pre-determined schedule of payments with optional ownership. Unless you are provided with a written purchase option, you will be offered an opportunity to purchase the equipment at what is known as Fair Market Value.
CORPLEASE provides leasing products & services tailored to meet corporate capital expenditure needs for a wide variety of assets including commercial real estate, equipment financing, plant and machinery, transportation assets, systems & IT and office equipment.
Any business, organization, association, or governmental entity may lease assets. CORPLEASE does not originate leases to individuals for personal use.
The following factors are used to determine credit worthiness:
- Length of time in business.
- Type of business.
- Financial condition.
- Credit evaluation or reports.
- Bank and/ or trade references.
- Type and brand of asset.
Yes, depending on the type, condition of the equipment. CORPLEASE typically finance used equipment up to 3 years old of its economic life. CORPLEASE also apply the same standards for a sale-and-leaseback transaction where we buy the equipment and lease it back for a determined period not exceeding the asset's operational lifecycle.
The standard corporate documents are:
- Commercial Register (not older than 3 months).
- Copy of Tax Card.
- Copy of Authorized signatories ID or valid passport.
- Articles of Incorporation.
- Relevant Business licenses.
- Audited financial statements for the past 3 years and latest modified interims.
In a finance lease the Lessee can exercise one of the following options:
1. Acquire the asset by paying a nominal value of LE 1
2. Return the asset to the Lessor.
3. To renew the contract (based on Lessor's approval)
The lease agreement is a non-cancellable contract. If you wish to cancel or terminate it during the course of the term, you may request a buyout.
Yes. It is your responsibility to make sure the equipment is sufficiently covered by the proper insurance. You can satisfy this requirement by obtaining your own insurance or by taking advantage of the coverage offered by CORPLEASE.
CORPLEASE can fiannce land and building if the ownership can be transferred and registered in the name of Lessor.
The asset is evaluated according to its net book value in order to avoid any capital gain or loss. However, in some cases we can determine the market value of the asset by hiring specialized evaluation firms.
In selective cases CORPLEASE can finance renovation costs depending on the company's cash flow and risk rating.
A variety of leasing products are available that allow us to tailor a lease to fit your cash flow requirements. Lease terms usually range from 12 to 84 months with various end of term options.