LeaseForce International - Commercial Equipment Leasing, Financing & Consulting Service Provider

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Value-Added Tax (VAT)

A tax assessed by federal/national governments, on every stage of the production and delivery process of a good or service (i.e. Goods and Services Tax (GST)).

Variable Payments Lease

Periodic lease payments that may increase or decrease over the term of the lease, typically resulting from a change in a benchmark interest rate index used as a reference for the lessor's changing cost of funds.

Variable Term Lease

A lease term that is indefinite as of the inception of the lease, but often contains an initial set term that can be cancelled early or extended at the discretion of the lessee"

VAT

Acronym for value-added tax.

Vendor

A purveyor, supplier or distributor of equipment from whom a lessor (or lessee) purchases equipment; in leasing arrangements, lessor’s are often instructed by lessee’s to acquire equipment on their behalf with the intent to enter into a leasing arrangement with the lessor.

Vendor Agreement

An agreement between a lessor and lessor that typically details a number of key terms and conditions with respect to their agreement, such as the vendor's assistance with the re-marketing of off-lease equipment, buy-backs of leased equipment, credit support of leases with the vendor's customers, authority of the vendor to execute the lessor's lease documents, and discounts on the lessor's purchase of equipment from the vendor.

Vendor Leasing

(1). Leasing business conducted by a vendor in its own name, although the vendor may simply be using a private label lease program of an established leasing company or super-broker financing network. (2). Lease financing offered to an equipment end-user in conjunction with the sale of equipment. Vendor leases are most often provided by the equipment vendor (two-party lease) or a third-party leasing company with a close working relationship with the equipment vendor.