Acceptance - The leasing company has approved your application for finance.

Capital Cost - This is the value of the equipment the supplier is providing to the lessee.

End of Lease - We will discuss your options as the agreement comes towards an end.

Lessee / Customer - A business (whether it be sole trader, company or organisation) that is looking to lease equipment.

Lessor / Funder – The organisation that actually provides the finance to the lessee.

Profile - This is how many payments are required for the term of the lease, usually paid monthly by Direct Debit.

Proposal - Document detailing information about the deal, required for credit clearance.

Quotation - Tailored to your needs, quotations (or quotes) provide you with an estimate of what your rentals and costs could be, subject to status.

Regulated Business -Business use customers that have the protection of the Consumer Credit Act (Caterlease is Authorised by the FCA to transact Regulated Business).

Rental - These are the payments made by the lessee in line with their lease or finance agreement. These are most often paid quarterly or monthly.

Settlement - This is where the lessee wants to end the lease earlier than the term set in the agreement. This usually involves a settlement cost/fee. Call us if you want to find out more.

Supplier - A business that supplies equipment to the lessee.

Term - The term describes how many months the lease agreement lasts for. For example, a 3 year lease would have a 36 month term.

Upgrade - With many of our finance solutions, the lessee has the opportunity to upgrade at any time, allowing the business to acquire newer equipment.

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