Purpose: To finance the acquisition of Information Systems & IT equipment
Lease Amount: Minimum amount of LE 500,000.
Tenor: Up to 3 years.
Payment: Can be monthly or quarterly in advance.
Percent of Financing: 75 % (subject to credit approval).
Title of equipment must be in the name of CORPLEASE.
Leased assets must be free and clear of any liens or mortgages, pledges, encumbrances, deeds of trust or similar.
Lessee has the option to purchase the leased assets for LE 1.00 at the end of the lease term.
Lessee has the right to purchase the assets at any point of time during the leased period by paying the net present value of the remaining rents.
All leases are registered with GAFI (General Authority for Investment and Free Zones).
According to current Egyptian Accounting Standards all leases are recorded as off balance sheet in the books of the Lessee.
Full insurance coverage must be provided during the tenor of the lease.
Download Leasing Application
F A Q
Q. Can Software be leased?
A. It depends on the software type. In some cases software could be leased provided that it does not constitute more than 30% of the leased asset cost.
Q. What are the leasing documents required to close a leasing transaction?
A. The basic leasing documents are the following:
1. Lease Contract.
2. Transfer of title (Invoice).
3. Acceptance certificate.
4. Irrevocable debit instruction for the lease rent.
5. Other documents as maybe required or on a case by case basis.
Q. What are the corporate documents required?
A. The standard corporate documents are:
- Commercial Register (not older than 3 months).
- Copy of Tax Card.
- Copy of Authorized signatories ID or valid passport.
- Articles of Incorporation.
- Relevant Business licenses.
- Audited financial statements for the past 3 years and latest modified interims.
Q. What are the Lessee’s options at the end of the lease term?
A. In a finance lease the Lessee can exercise one of the following options:
1. Acquire the asset by paying a nominal value of LE 1.
2. Return the asset to the Lessor.
3. Upgrade the equipment (based on Lessor’s approval).
Q. Can the lease contract be terminated?
A. Yes. The Lessee must pay the net present value of the future lease payments.
Q. What is the payment method?
A. The usual payment method is through an irrevocable standing order instruction on the Lessee's bank account to transfer lease rents to CORPLEASE.
Q. Who bears the insurance and maintenance costs?
A. The Lessee. These costs can be included in the Lessee’s monthly payment.
