Leasing

Leasing is a special type of rental relations, in which one party (lessor - Bank) upon request of another party (lessee) acquires from a third party (seller) for ownership the property (leasing object) set forth in the lease contract and provides it to the lessee for a fee under terms and conditions set forth in such contract for possession and use for a period exceeding 12 (twelve) months.

Leasing object may be any non-consumable by the bank fixed assets, including enterprises, property complexes, buildings, facilities, equipment, vehicles, agricultural machinery, agro-processing equipment and other movable and immovable property used for entrepreneurship activities, except for land and other natural objects, as well as property, free circulation of which is prohibited or special procedure for its treatment is established by law.

“InFinBank” POJSCB provides leasing services only to clients having basic on-demand deposit accounts in the bank, as well as to financially steady business entities with the rights of legal entity. Evaluation of financial condition of the lessee is carried out in accordance with the procedure established for crediting business entities.

Basic terms and conditions:

• Lease duration - from 1 to 3 years;
• Interest rate - 20-24% per annum:
• Lease amount - in accordance with applicable laws (no more than 25% of the amount of the 1st level capital of the Bank).
• Security - in accordance with applicable laws of the Republic of Uzbekistan.
  

• Copies of founding documents.
• The License confirming the right to be engaged in industrial activity if the activity kind is included into the list, demanding special licences.
• The Accounting report of the enterprise, with a tax-committee mark, for last 2 years.
• The Documents confirming the rights leasing-recipient for using of room where it is supposed to use object of leasing.
• Business the plan/feasibility report.
• Intention Contracts on acquisition of raw materials and finished goods selling.

The present list is not full for solving the question of financing, and employees of Bank can request other information and the documents, concerning the leasing project.

Advantages of leasing:

• After registration of the leasing transaction, the client can not only get the process equipment necessary for the enterprise, but also cuts the cost of imported equipment because such techniques is released from the VAT and the customs duties;
• During all time of leasing the enterprise will be released from the tax to property on the got equipment.
• The size of taxable base under the profit tax will decrease for the size of the percent paid on leasing.