bank of china

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1、LetterofGuaranteeforFinanceLease BusinessSummaryFinanceLeasereferstoatransactioninwhichthelessorentersintoasupplycontractwiththethirdparty(supplier)asperspecificationsprovidedbythelessee;basedonthecontract,thelessoracquiresthefactory,capitalgoodsorotherequipment(hereinafterreferredto

2、as?°equipment??)accordingtothetermsandconditionsinfavorofthelessee;and,thelessorentersintoaleasingagreementwiththelessee(theclient)toempowerthelesseetousetheequipmentontheconditionthatthelesseepaysrent.FinanceLeasehasthefollowingcharacteristics:1.FinanceLeaseisauniquetrilateraltradei

3、nvolvingatleastthreeparties----thelessor,thelesseeandthesupplier----andatleasttwocontracts----thesalescontractandtheleasingcontract.Thethreepartiescorrelateswitheachotherandthetwocontractsrestrainseachother.2.Thelesseechoosesbyhimselftheequipmenttoberented.Thelessorisonlyengagedinfac

4、ilitatingfinancingaccordingtotheneedsoftheclientaswellasinpurchasingequipmentanddoesnotshoulderanyresponsibilityforequipmentdeficiencyandpostponeddeliveryandhasnoobligationtomaintainequipment.Thelesseemaynotbeinarrearswiththerentorrefusetopaytherentonthisaccount.3.Thepayoffofthefulla

5、mount,thatis,thelessoronlyrentstheequipmenttoaparticularclientwithinthebasicleasetermandthetotalrentreceivedbythelessorfromtheclientshouldbeequivalenttotheentireinvestmentintheleasingtransactionplusprofitor,inaccordancewiththestandardsofthelessor??scountryconcerningfinancelease,theto

6、talrentshouldbetheequivalentofacertainproportionofthetotalinvestment,say,80%.Inotherwords,thelessorcanbeabletotakebackallormostoftheinvestmentinthetransactioninonebusiness.4.Forthelessee,thefinanceleasebelongsintheheadingsofthebalancesheetandtheleasedequipmentshouldbereflectedintheba

7、lancesheetofthelessee.Therefore,itisthelesseewhorecordsdepreciationthroughcalculation.Expensesarisingfromtheinsurance,maintenanceandoverhaulingoftheequipmentandtheobsoleteriskwillallbeborneandundertakenbythelessee.5.Ownershipoftheequipmentseparateslongfromtherightofuse.Ownershipofthe

8、equipmentleg