The Lease/EFC Agreement

1. Lessee name should be the complete legal name of the lessee including trade style and billing address. It must be exact name as specified on the lease approval.  In some cases a lessee will have a billing address, physical address, and an equipment address, FFL will need all of the addresses.  The address on the contract is limited to the business address.
2. Equipment address, if different from the billing address, should be complete.
3. Quality, type and model of all the equipment, including accessories, and serial numbers should be included in the equipment description.  The equipment list should clearly match the vendor's invoice.  The selling price should not be indicated.  If equipment description is too lengthy, a supplemental schedule (i.e. "schedule A") may be used.  This must specifically reference the lease agreement and be signed by the lessee.
4. The number of months of the original lease term includes the advance months paid.  The term must not exceed the number of months approved.
5. Total pre-tax dollar amount of advance rentals should be input.
6. How the advance rentals are to be applied should be input.
7. Personal guarantees must be signed without titles.
8. The complete legal name should be typed in above the lessee's signature.  A proprietorship may be listed with just the correct business name or with the individuals name DBA the correct business name.
9. The signature must be of the individual approved or properly authorized to sign and they must indicate their title.  Only a proprietor, general partner, or corporate officer may sign the lease unless specific authorization is provided in writing by an authorized agent of the company.

***Please call the funding department with questions about proper documentation.  Guidelines are subject to change without notice.