Leasing has proved to be an effective tool to attract funds to the real sector of Russian economy.
Vladimir Putin
President of the RF
At the national level leasing is acknowledged to be the main tool for developing key industries of the Russian economy, including power engineering, agriculture and housing and communal services. In contrast to all other financial tools leasing enables covering of the main part of modernization expenses out of proceeds resulting from modernization itself. Upon expiration of the leasing period all facilities shall be assigned to the lessee.
When leasing tools are used to renovate and replace housing and communal facilities, savings amount to 50% of the fuel rate.
How is it possible to use leasing tools right now?
Consider the suggested order of interaction between the Parties
1. Lessee shall determine the object to be replaced, come to an agreement with the contractors about the price of new equipment and send an application to Finance Leasing Company, PC. Finance Leasing, PC shall make calculation of payments and produce them to the Lessee together with the list of documents required for consideration of the application.
2. On the grounds of the documents provided by the Lessee, Finance Leasing, PC shall elaborate financial and legal schemes of the project, come to an agreement with Investors about the terms, rates and time-tables for provision and paying of funds and produce draft agreements to the Lessee.
3. Lessee, Finance Leasing, PC, Supplier, Investor and other parties shall sign the corresponding contracts upon harmonization of all project’s specialties.
4. The Parties shall settle their accounts. Lessee shall transfer an advance to the Lessor. Finance Leasing, PC shall pay 100% of the equipment cost to the Suppliers, as well as installation and precommissioning works. Upon acceptance of the facilities by the State committee and execution of the insurance in favor of the Lessor, the Parties shall sign Commissioning statements. Leasing period shall start on this date. Lessee shall transfer leasing payments to the Lessor every month.
5. Upon termination of the leasing period the equipment shall be assigned to the Lessee.
Peculiarities of leasing of housing and communal facilities:
- Source of the leasing payments is budgetary funds. It’s necessary to sign a multilateral agreement to support leasing transaction by the Lessee’s guarantor and REC committee. Administration shall provide guaranties for the Lessee under the leasing contract along with the approval of budget line.
Finance Leasing, PC is a Russian enterprise. It has the largest paid up capital stock amounting to 110 million US dollars among domestic leasing companies. At present, Finance Leasing, PC has successful experience of leasing tools implementation at the Russian enterprises.
Finance Leasing, PC provides for integrated execution of the projects in the scope of industrial equipment modernization subject to all required arrangements.
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