UCL LEASE (FINANCIAL LEASING)
UCL Lease is a financial lease with a subsequent purchase of the leased item. It is a service, when a client (lessee) uses the leased item on a long-term basis for a consideration in the form of leasing installments. The leased item is owned by a leasing company and - upon a completion of the leasing contract and payment of the residual value (often in an amount of symbolic CZK 1,000 + VAT) - an ownership right passes on to the lessee. The duration of the leasing contract in case of financial leasing is defined by the Law on income taxes according to a depreciation class of the leased item. However, from 20.7. 2009 till 30.6.2010 it is at least 2 years.
SALE AND LEASE BACK
Sale and lease back leasing is a specific form of the financial leasing. During the sale and lease back leasing, a leasing company purchases the subject of the lease from its owner and then leases it back to him on the basis of a leasing contract. It is not a trilateral contractual relation as in case of the standard financial leasing, but only a bilateral contractual relation – the seller (supplier of the subject of the lease) and the lessee are the same entity. The sale and lease back leasing is mainly used to free up financial resources for other purposes.
OPERATIONAL LEASING
Operational leasing is a lease, the objective of which is to provide service, not to acquire an investment. The lease consists of supplementary services associated with the subject of the lease, up to an agreed-upon extent. An operational leasing contract is concluded for a relatively short period of time. It is usually shorter than the service life and depreciation period of the subject of the lease according to valid legal regulations. Upon a completion of the repayment, the subject of the lease remains in the ownership of a leasing company (unless another agreement takes place). Operational Full Service Leasing of company car fleet is completed with a complex provision of all services necessary for an operation of vehicles.
HIRE PURCHASE
It is a form of financing within the product portfolio of UniCredit Leasing, which may above all be used in the area of machinery and equipment as well as transportation technology. Using a hire purchase, it is possible to finance, for example, means of mass transportation, trucks, water treatment plants, environmental investments, investments in thermal industry, modernization and reconstruction of investment complexes, etc. The most important advantage is an immediate transition of ownership of a hire purchase subject, which fulfills one of the conditions for the possible drawing of state subventions and subsidies.
UCL CREDIT
The credit product of UCL Credit offers a shorter repayment period than other forms of financing. The shortest repayment period is set at 6 months and its minimum amount is CZK 20 ths. Other features are: a possibility of an early loan repayment and no need to secure the credit with a real-estate and/or third party guarantor. A customer is an immediate owner of a car or a motorcycle. The credit is provided for financing of vehicles and motorcycles of any brand, namely for private individuals. The DIRECT CREDIT product enables - under similar terms and conditions - a direct financing of used vehicles between private individuals without an involvement of a used-car dealership.
UCL FIN
UCL FIN is a new financial product in portfolio. The product combines advantages from leasing and credit (the length of depreciation and contract). Due to better assurance of financed asset it's cheaper than other products.
FIXED LEASING INSTALLMENTS
Leasing installments are calculated with a fixed interest rate and their amount remains fixed throughout the whole duration of the leasing contract.
FLOATING LEASING INSTALLMENTS
In case of floating leasing installments, the amount of installments is calculated with a variable interest rate and their adjustment to interest rate may be carried out during the term of the leasing contract - either up or down.
DOWN-PAYMENT
The first leasing installment paid by the lessee upon signing a leasing contract. It usually amounts to 10 % - 70 % of the purchase price of the leased item.
LEASING COEFFICIENT
The proportion of the total leasing price and the purchase price of the leased item.
LEASING CONTRACT
It is the legal basis for relations between a leasing lessee and a leasing lessor. The contract is usually in writing and it should contain the identification of the leasing lessee and lessor, specification of the leased item, purchase price of the item, duration of the leasing, rights and responsibilities of the lessor as well as the lessee in relation to the leased item, insurance of the item and a payment schedule of the leasing.
DELIVERY PROTOCOL
On this document, the lessee confirms an acceptance of the leased item with his/her signature.
TOTAL AMOUNT PAID
Total costs of the leasing, which include all payments, including residual value as well as the VAT.
INTRA-COMMUNITY DELIVERIES
Goods from suppliers from EU countries, which are not subject to customs procedures.
THIRD COUNTRY DELIVERIES
Goods from suppliers from countries outside of the EU (including Switzerland), which are subject to customs procedures according to a common customs tariffs of the EU.
INTRASTAT
Obligatory statistical evidence, which serves for an inspection of tax liabilities in case of an import/export of goods within the EU.
