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Financial information

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Financing procedure
 
1) The client selects asset and a supplier.

2) Discussion with an expert in a branch of the leasing company, preparation of a detailed leasing proposal.

3) Preparation of the required application documents for leasing:

  • Application - request for leasing.
  • Offer and wording of a purchase and sale agreement by the equipment supplier.
  • A court decision for registration of the company and certificate of good standing.
  • A copy from EIN and VAT registration (if any)
  • Statute (for JSC), Articles of Incorporation (for a sole-owner limited liability company, Ltd), Partnership Agreement (for Ltd).
  • Balance Sheet, Income Statement for the last 2 years
  • A copy of the last two years tax return.
  • Minutes of the meeting of the Managing Board of the company stating the decision taken for leasing (no such is required for Sole Traders).
  • A copy of identity documents from the persons representing the company.
  • Only for Transport companies – license for transport activity and copy of vehicle certificate

 
4) The experts of UniCredit Leasing AD examine and analyse the transaction on the basis of documents submitted by the client and give their opinion on the transaction within the agreed time period.

5) The client and UniCredit Leasing AD execute the leasing contract and the client pays the initial costs.

6) The leased asset is insured.

7) The supplier delivers the asset to the client, and, after signing a Delivery and Acceptance Protocol, UniCredit Leasing AD pays the price to the supplier.

8) The leasing contract is terminated when both parties fulfil their obligations.
 

Assets that could be purchased on leasing

  • The asset shall be new. Leasing of used assets is allowed only if the fair value of the asset may be measured (after expert valuation is performed by a valuer) and if the asset supplier is known to UniCredit Leasing AD (for example,if it is a partner of UniCredit Bulbank or UniCredit Leasing AD).
  • The asset shall have a long useful life - not less than 5 years, whereby upon the expiry of the leasing contract term the asset shall be fit for use for at least one more year.
  • The asset shall be liquid, i.e. a well developed secondary market shall be available therefor, making easier the subsequent realisation.
  • The asset shall be standard equipment and not unique, and shall not be designed to satisfy specific needs of the lessee.
  • The asset shall be mobile so that to allow the easy installation, dismantling, transportation, and repeated installation, without thus leading to significant costs.
  • The asset shall have a serial or other number making possible its easy identification when mixed with other assets.
  • The asset shall have a reasonable guarantee term (as a rule, covering at least one third of the leasing contract term) and ensured post-guarantee servicing, it is preferable that the latter is rendered in an own service center of the partner.