Every financial director knows the concept of leasing. What is it, and when did this operation appear? In international practice, there is no single interpretation of this term. It is believed that they mean long-term lease of expensive equipment on certain conditions (how leasing differs from, for example, rental or short-term leases). It is assumed that the first such relations appeared in Ancient Sumer, however, they received development in the form of
leasing operations in the USA and Europe in the second half of the twentieth century.
In the Russian legislation in the mid-1990s, the term “leasing” was also designated. What is it from the point of view of the Civil Code adopted in 1996? According to Article No. 665 of the second part of the Civil Code, a financial lease (leasing) is a set of relations in which the lessor, at the direction of the tenant or at his own discretion, purchases certain property, which is subsequently transferred to the tenant for use and possession for a specified period of time.
Can any objects be purchased according to a scheme in which leasing is involved? What is this from the point of view of the subject of the transaction? In accordance with article 666 of the Civil Code, only items that are depreciated over long periods of time (non-consumable items), such as real estate, equipment, machinery, can be transferred to finance leases. The exception is natural formations, land plots and objects, the turnover of which is limited by any laws.
What regulatory acts still govern leasing? What it is also possible to learn from the law of the federal level No. 164- (adopted in 1998, October 29). Here, an interpretation similar to the definitions of the Civil Code is given, and detailed formulations are proposed for the entire procedure for conducting operations. For example, article 4 of the law specifies that the seller of leased objects, the lessor or lessee can be both a resident of the Russian Federation and a non-resident.
A lease agreement is concluded in writing in writing between the lessor and the lessee. However, in schemes of this kind quite often there are other persons - insurance companies and banks. The former are involved in minimizing various risks associated with the supply and operation of equipment. And the latter are often founders of leasing companies, which receive funds from banks for operations in the form of loans with favorable interest rates. The agreement may provide for such an option for termination of relations when the lessee acquires property upon expiration of the contract and the fulfillment of certain conditions (the entire amount of the cost of the equipment is repaid in the form of rent payments, etc.).
You can buy expensive objects on lease in the foreign and domestic markets. For this case, appropriate types of financial leases are allocated. If all parties to the contract are residents, then leasing is recognized as internal, and if one of the parties is non-resident - external.