Leasiing Life Awards The Finance and Leasing Association
By Laura Gosshawk on 30/06/18 | Category - Asset Finance

Part Five - Notifications

 
Corporate E had used FAF a number of years ago to finance a specialist item of equipment designed to improve its internal maintenance capabilities and reduce costs. Due to various personnel changes the customer had lost contact with FAF. 
 
Our online asset tracking software alerted us to an end date of an agreement with Corporate E where a large deferred payment was due, on the last day of the primary period. FAF contacted the client to ensure they were aware of the upcoming liabilities and worked to successfully refinance the payment and extend the lease, refreshing the relationship and assisting Corporate E in spreading the cost of the equipment over a much longer term than originally intended.
 
This improved the cash flow of Corporate E and matched the income or savings from the asset over its useful life. FAF can deploy DALIS to ensure that all details of a funded asset can be found in one place along with automated reminders at vital points of an agreement or assets life. Customers can also upload their own documentation into DALIS, if so required.
 

 

 

By Laura Gosshawk on 14/06/18 | Category - Asset Finance

Part Four - In Life Assistance


Corporate D had used FAF services to write significant volumes of leases with over 3,000  assets funded and being tracked using DALIS, our in-house on line portal.  During the life of these agreements, some of the processes were amended and invoicing arranging were proving onerous (or not in line with management’s needs).
 
FAF were made aware of the issues, worked with the Lessors in question and amended both the processes, documentation and DALIS to accommodate the needs of Corporate D. FAF with its systems and access to data, also served as a useful third party verification partner.
 
FAF seeks longer term, fully supportive roles with its clients to ensure in life issues are dealt with professionally and often without the need to incur charges with the Lessors, as FAF can provide much of the asset and financial data needed.
 
 
 
 

 

By Laura Gosshawk on 30/05/18 | Category - Asset Finance

Part Three - Asset Logging


FAF had worked closely with Corporate C and assisted in recording their agreement data for many years.  Using spreadsheets was no longer the right solution due to the volume of data held. Hence FAF completely overhauled the system, employed a software developer and built our own data management software. 
 
This included logging agreement end dates, to manage end of life, holding signed copies of documents in one place, automatic reminders and notices and complete asset data and lease pricing. DALIS was created with a system that can create Direct Debit Reconciliation reports and balance of rentals outstanding. See www.dalis.co.uk
 
 
 
 
 

 

By Laura Gosshawk on 15/05/18 | Category - Asset Finance
 
Part Two - Tender Panel
 
Corporate B had used our Tender Panel process to obtain competitive pricing by FAF seeking funding for each drawdown under their required procurement plan. One of the funders on the panel was struggling to obtain business due to uncompetitive residual values. 
 
FAF organised and attended asset inspections with this funder assisting them in better understanding the assets, fleet policy and intentions of the Lessee. This helped both parties and resulted in better, more competitive pricing for Corporate B and improved the business written by the funder.

 


By Laura Gosshawk on 02/05/18 | Category - Asset Finance

Part of our new Case Studies series, we are looking at how we have helped our customers over our 40 year history.

 

Part One - Novations

Corporate A was bidding to win a significant new contract from an incumbent contractor, with the need to continue to use a variety of vehicles already deployed within the service level agreement.  The assets were funded with a variety of banks/finance houses over differing periods.

Part of winning the bid required evaluating and novating the existing equipment/finance contracts over to Corporate A to enable the assets to be used for a further period until replaced.  

FAF was utilised to liaise with the lessors and ascertain the terms and conditions, negotiate their pricing and transfer and assist legal in agreeing such terms. 

Corporate A won the bid and FAF helped manage the novated contracts and helped close the contracts in a timely and efficient manner.  

 


 

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