Glossary Listing A-Z

Glossary Listing A-Z

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A

Advance Payments

One or more of the lease payments that are required to be paid to the Lessor at the beginning of the lease term. Lease structures commonly require one payment to be made in advance.

Asset

The item of personal property being acquired by the Lessee through payments over a period of time pursuant to the lease.

B

Budgeted Amount

We estimate the potential cost of a service — but if the actual cost is more than what we’ve budgeted, you pay the difference...On the other hand, if we’ve over-budgeted for the service, we’ll refund anything left over when the lease is up.Either way, you won’t have to come up with large amounts of cash on the spot to cover these expenses.

F

Fixed Amount

You won’t have to pay anything extra for these services — even if they end up costing more than the allocation in your lease payment.

R

Recharge

We’ll still take care of everything, but the costs won’t be included in the regular lease payments. Instead, we’ll send you an invoice for the service when the time comes.