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Leasing

Leasing

Leasing

Leasing is a special type of lease relations, in which one party (the lessor — the Bank), on behalf of the other party (the lessee) acquires fr om a third party (seller) as a property due to the lease agreement a property (leasing object) and make it available to the lessee for a fee on determined in the treaty conditions for possession and use for a period exceeding twelve (12) months.

The object of the lease can be any non-consumable by Bank fixed assets, including enterprises, property complexes, buildings, structures, equipment, vehicles, agricultural machinery, agro-processing equipment and other movable and immovable property used for business activities, except for land and other natural objects, as well as assets, circulation of which is prohibited by the law or there is a special procedure of their circulation.

Leasing services are available only to customers who have a basic deposit account in JSCB «InFinBank» and the legal entities who have financial stability. Assessment of the financial condition of the lessee is carried out in accordance with the procedure established in lending to businesses.

Basic conditions:

  • The lease term — from 1 to 5 years;
  • interest rate — 14-22% per annum;
  • The amount of leasing — based on the conditions of the project (not more than 25% of Tier 1 capital of the Bank).
  • security — in accordance with applicable legislation of the Republic of Uzbekistan.

The list of documents for the preliminary review of the draft lease:

  • Copies of the constituent documents;
  • The license confirming the right to engage in producing activity if this activity is part of a list requiring special licenses;
  • Accounting report of the company, with the mark of the STI over the last 2 years;
  • documents confirming the right of the lessee to use the room, wh ere it is supposed to use the object of lease;
  • Business Plan / Feasibility Study;
  • Intention Treaties on the purchasing of raw materials and sales of finished products.

This list is not exhaustive for the consideration of the issue of funding, and employees of the Bank may request other information and documents relating to the project in question.

Advantages of leasing:

  • Having a leasing transaction, the customer can not only acquire the necessary technological equipment to the enterprise, but also significantly reduce the cost, as the technological equipment imported for leasing is exempt from VAT and customs duties;
  • During the entire term of the lease, the company will be exempt from property tax on the purchased equipment;
  • The size of the tax base for income tax is reduced by the amount of interest payable on the lease.