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Converse Bank offers leasing for new and used equipment, hardware and means of transport purchased from abroad or the local market.
The Bank's leasing services are available for any legal entity or individual holding an account at the Bank, the financing of whose activity is not prohibited by the Bank's lending policy, and in case of agricultural leasing - also to an individual or a group of individuals, represented at the Bank by an authorized person.
Leasing is an average-term financial instrument intended for purchase of machinery, equipment, cars and property. A bank, as a rule, buys the equipment chosen by the lessee and leases to the latter for certain approved period of time. During leasing the lessee regularly pays the leasing amount at a mutually agreed interest rate. At the end of the leasing term, the equipment is either handed over to the lessee with the ownership right or is returned to the leaser, is written off or sold to a third party.
The following limits are defined for leasing:
|Maximum amount||AMD 100 million or equivalent in other currency|
|Term||Maximum - 5 years|
|10-50 percent of the financed equipment, depending on riskiness of the transaction|
16% - 22%
The Bank does not change the interest rate unilaterally.
Mandatory monthly payments, which comprise repayment of the interest and the principal amount.
Final payment - specified final amount, which is paid at the end of the contract term; in case of payment thereof the ownership right for the purchased equipment passes to the lessee. The final payment is defined based on consideration of the application and taking into account the financial flows of the financed project. The final payment cannot be more than the balance cost of the financed equipment as of the end of the contract term.
The change of the foreign currency exchange rate might affect repayment in other currency of the loans provided in foreign currency /leasing/.
In order to secure proper fulfillment of the Lessee's obligations towards the Leaser, the Leaser can demand from the Lessee to provide collateral and guarantees securing fulfillment of the obligations and other facilities acceptable for the Leaser, and sign the relevant agreement related to this.
The maximum loan to collateral ratio is defined separately for each leasing transaction.
The customer shall cover the costs connected with evaluation, insurance and registration of the asset, as well as registration of the leasing right. If the equipment or machinery purchased through leasing is subject to taxation by property tax, the Lessee shall be responsible for fulfillment of these obligations. The customer shall make also other payments envisaged by the legislation (e.g. maintenance and environmental protection payment for the car).
In case of using support services, the price of the services /price range/ is defined by the company that provides the service.
In case of failure to make every repayment of the leasing amount within the specified term the Lessee shall pay penalty to the Leaser equal to 0.3 percent of the amount for each day of delay.
Failure by the Lessee to make the regular payment will have negative influence on the Lessee's credit history and the opportunity of receiving leasing or a loan in the future and can be the basis for returning the leasing object.
No penalty, fine or restriction is applied for early repayment of leasing.
After providing of the required documents by the customer, the decision regarding the application for leasing is made maximum within 10 days.
The principal factors for approving or rejecting the application for leasing are as follows:
For more details please contact the Head Office on the address 26/1, Vazden Sargsyan Str., Republic Square or by phone 511250, 511233.