pl
Leasing Dictionary
Leasing (English: to lease)
This derives from French medieval form of the verb ‘laisser’ (to let, to release), and this verb in turn derives from the Latin word ‘laxare’ (to permit). There is no equivalent in Polish. Only the descriptive form is possible.
It is also one of the options in paying for the purchase of goods.
On the basis of the leasing contract, the ‘lessor’ or ‘lender’ establishes the goods, which are the object of the lease. This allows it to be used for a fixed period.
In return, the ‘lessee’ or ‘hirer’ pays ‘installments’.
Lessee or hirer (the one that uses)
The party to the leasing contract using the goods.
This can be any item with a market value which may be loaned against.
Lessor or lender (the financier)
Brings the leasing object into use and collects the leasing fees. This is usually a qualified company offering financial services or is appointed by a subject bank.
Dealer / Vendor
A person from whom the hirer buys the goods. The lessee usually chooses the dealer.
Goods for lease
Durable goods, for the purposes of accountancy regulations, according to which goods for lease can be permanent must have a minimum value of 3 500 Polish zloty.
Operational leasing
Leasing fees constitute the overall cost of the lessee’s receipts.
The object under lease remains the property of the lessor during the contract period.
He must also bear depreciation costs.
Financial leasing
Interest-only installments constitute the cost of the lessee’s receipts;
after the contract expires, possession is transferred from the lessor or lender to the lessee or hirer.
This may take place, according to law.
Leasee carries out depreciation funds, treating the fees as an investment in somebody else’s means.
The repayment of the overall leasing value takes place during the contract period.
Zloty leasing
The leased item’s value is estimated in Polish zloty, and all the financial balances are carried out in Polish zloty
Foreign currency leasing
All leasing operations are carried out in foreign currency, installments are calculated in foreign currency, and are payable in zloty according to the foreign currency exchange value.
Financial schedule
A document constituting an integral part of the leasing contract presenting all the deadlines as well as the value of all the fees concerning the lessee on account of the contract signed.
Initial fee
The initial fee is paid upon the signing of the contract or upon release of the leased item.
The fee forms part of the contract.
Leasing installments (fees)
The fees, the value of which is presented in the fee schedule, which the lessee pays for using the leased goods during the contract period. All installments constitute the current cost of the lessee´s receipts. He also pays the VAT tax as calculated.
General Regulations for Leasing Contracts (OWUL)
These are regulations that estimate the general rules for leasing, the choice of dealer, payment duties, leased item’s insurance, method of contract dissolution or expiration etc.
Residual value
The purchase price of the item at the end of the contract.
This forms part of the repayments schedule.
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