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Terms and Conditions of Finace Lease

  • Lease Term is the period starting from the Commencement Date, when the installation or delivery of Leased Asset is completed until the expiry date of the Lease Agreement. The minimum Lease Term is 1 year.
  • Acquistion Cost is the total amount of purchase price, insurance premiums, taxes, and all other incidental expenses together with financial expenses.
  • Leased Amount is the actual amount that KVLC Finances Lessee. It can be 100% of Acquisition Cost or may comprise only purchase price of Leased Asset and less Down Payment(if only). In case Leased Amount comprises only purchase value of Leased Assets, all other expenses must be paid directly by Lessee at the time expenses occur.
  • Interest Rate can be either fixed or floating. The Interest Rate will much depend on Security Deposit and/or other forms of securities.
  • Security Deposit is the amount paid by the Lessee to secure due performance of Lease Agreement by Lessee. Security Deposit is a must for every lease transaction. It must be made right after the signing of Lease Agreement. Security Deposit shall be refunded to Lessee at the end of Lease Term provided that the Lessee completed his/her obligations under the Lease Agreement. Security Deposit may be applied to deduct Residual Values of the Leased Assets and/or repay the Lease Rent
  • Down Payment is the partial payment in advance of the Acquistion Cost by the Lessee and will be deducted from total Acquition Cost. Down Payment is not compulsory. It is regarded as additional security of Lessee's performance of his obligations during Lease Term.
  • Other Securities is any other forms of securities such as guarantee, mortgage or pledge of assets to secure due repayment of the Lease. In addition to Security Deposit and Down Payment, the Lessee may be requested to provide Other Securities besides.

Additionally the Lessee shall buy Insurance for the Leased Assets in the name of Lessor during Lease Term and the Lessee is prohibited from sub-lease, transfer or mortgage of Leased Asset to any third party without prior acceptance in writing by KVLC.