Operating lease is a specific type of financial transaction
The operating lease is a specific type of financial transaction that allows the purchase of the use of goods and services of which, however, it is not possible to redeem at the end of the stipulation contract. Unlike financial leasing, in fact, the operating lease is distinguished precisely because it does not provide the possibility for the user to become the owner of the goods once the period indicated in the contract has expired.
While there are three subjects involved in financial leasing (owner of the asset, user company and financial company), there are only two parties involved in the operating lease since the presence of the financial company is not necessary since the producer of the asset can sell its use. without the need for intermediaries. For these aspects, the operating lease is equated with a lease or rental contract because it shares all the general principles and is often referred to as an operating lease. Specifically, the differences between finance leases and operating leases mean that in the second case the risks that may arise from ownership of the asset are the responsibility of the lessor and that it is not mandatory to introduce minimum duration time constraints in the initial contract. Furthermore, in calculating the periodic fees, not only the time parameters are taken into consideration but also the costs related to the technical and administrative assistance services of the asset subject to the operating lease.
Assets that can be use
The assets that can be used through an operating lease are both those with a rapid obsolescence, and those with longer periods of economic life, as long as they require maintenance which is the responsibility of the grantor, given that the user only pays for use. Specifically, the assets that most commonly fall under operating leasing contracts are: technological assets (including software assets and installation and technical assistance services and any training to use them), goods from the world of copy, including maintenance, assets electromedicals, boats and machines used for the movement of the soil.
No mandatory time constraints
Although there are no mandatory time constraints, usually an operating lease has a duration ranging from 18 to 60 months, always taking into account the estimate of the economic life of the asset covered by the leasing contract. At the end of the period indicated on the initial stipulation contract, the user can request the grantor to extend the period of use according to conditions to be established at the time of acceptance or he can either return the good or request a replacement.
Although the operating lease does not provide for the possibility of redemption, the user can propose to the grantor to buy the asset by paying a sum that takes into account the current market value and the period of use, as well as the economic life that remains to the asset before this is no longer usable.
For more information on operating leases, you can contact one of the many agencies that deal with it or at the branch of a bank that is equipped with leasing operators.