Admin Fee- Administrative and filing fee, ranges from $75.00+

App- Application, lease application

B&T- Bank and trades

Booked- An application that has been approved, closed, funded and put onto our “books” A done deal.

CBR- Credit bureau report

Captive- A vendor or manufacturer who offers their own lease financing

Cap Cost- Capitalized Cost = Equipment cost, Lease dollar amount

Co-Lessee- An additional lessee to a lease.

Commitment Fee

Proposal Fee- A fee taken at the time a proposal is accepted to lock in a specific rate and/or lease terms.

Conditional Sales Contract- A contract in which the purchase price at the end of the contract is pre-determined such as a $1.00 buy out or 10% PUT (Payment upon termination)

Confirm Call- Verbal verification by a funding coordinator to the lessee verifying receipt of equipment and authorization for lease commencement and vendor funding

Corp. Only- A “Corporation Only” transaction has no Personal Guarantees. This is an exception and may be considered for an established corporation.

Closely Held- Any company that has very few stockholders. This is the case for most small to medium sized companies. A large publicly traded firm would not be closely held

Corporate Guarantee- A promise to pay by a corporation

Cross Corp Guarantee- A corporate guarantee by a third party or affiliated corporation promising to pay in the event of default by lessee corporation

D&B- Dun & Bradstreet report, a credit report on a business

D&A- Delivery and Acceptance authorization document

Deal- A Transaction

Default- A booked Deal that is not performing as agreed is in default

Docs- Documents, lease documents

Equifax- A credit reporting agency

FMV- Fair Market Value

$1.00 Out- $1.00 buy out residual on a conditional sales contract

Fund- Pay for equipment, done after confirm call and prior to booking

Funding Source- A company that received deals from Brokers and funds them – A Lessor

Lessor- A company that purchased equipment and leases it to Lessees

Lessee- A company that is in possession and has use of equipment and leases it for a specific payment and term from a Lessor

Leaseback- Sale Leaseback, Customer owns equipment and sells it to a Lessor to raise Capital, Lessor then “leases back” equipment to customer. This is on an exception basis only.

PG- Personal Guarantee, a promise to pay made by an individual

PUT- Guaranteed purchase of equipment for a pre-determined dollar amount

PUT Letter- Lease document indicating the dollar amount of the guaranteed purchase price

PO- Purchase Order

Repo- Reposes

Residual- End of term option

Trans Union- A credit reporting agency

UCC- Form filed with the lessee’s state indicating that the Lessor has a lien on specific equipment. UCC is to equipment as title is to vehicle

UCC Search- A search performed by a contracted company to show all liens and filings placed against a company or individual. Would be required for a private sale on the seller of the equipment to show no liens or encumbrances are placed against equipment

Vendor- Purveyor of equipment, seller of equipment