Tagged With "Lease"
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Toshiba sells medical equipment leasing company
Japanese electronics conglomerate Toshiba Corporation, which has been hit by accounting irregularities and serious losses in its nuclear business, has announced it is selling its stake in its medical equipment leasing company to Canon Inc. for 3.14 billion yen. In a regulatory announcement, Toshiba said it had been in talks about a possible deal since the end of last year. It has now agreed to sell its 65% stake in Toshiba Medical Finance (TMF) to Canon, a Japanese printer, camera and...
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Hard Drive Wiping, Replacing for Lease Returns
So, I admit we have no policy in writing for wiping, erasing or deleted hard drive data for devices that will be returned to the leasing companies. Lately, I've been involved with three health care accounts and all have asked about our policy. We can and will replace the Hard Drives for our own Ricoh devices and we have small fee for that, however if you don't ask you don't get. Yes, it would be a great idea to sell this service as extra revenue, but when you only get small percentage of the...
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Compass is Partnering with LEAF Commercial Capital, Inc. for Lease Document Automation!
Compass Sales Solutions is Partnering with LEAF Commercial Capital, Inc. for Lease Document Automation Boise, Idaho (March 2017) Compass Sales Solutions, the industry leader in sales opportunity software, is proud to announce a new partnership with LEAF Commercial Capital, Inc. (“LEAF”) for lease document automation. Compass is proud to announce that Compass Sherpa users can now populate LEAF lease documents. This time-saving feature will allow users to populate all their lease documents...
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The Greene County Purdue Extension Office presented a request for a leased copier
The Greene County Purdue Extension Office presented a request for a leased copier in order to save money as their current copier lease is set to expire. Extension Office Manager Samantha Groomer said a leased copier, as opposed to purchasing a copier, will save the department money on toner and color, and also comes with added features. The lease was approved, contingent upon attorney Marilyn Hartman’s review of the contract.
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CEO Juice and GreatAmerica Financial Integrate Systems for Proactive Lease Management Capabilities
FOR IMMEDIATE RELEASE 03/14/2018 CEO Juice and GreatAmerica Financial Integrate Systems for Proactive Lease Management Capabilities Automation of Lease Portfolio Data Helps Office Technology Dealers Make Proactive, Real-time Decisions (Cedar Rapids, IA) – CEO Juice, a provider of automated best practices for copier dealers, and GreatAmerica Financial Corporation jointly announce a new technology integration allowing office technology dealers who use e-automate to securely and easily import...
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Pequot Lakes: Council enter 5 year copier lease
• Entered into another five-year lease agreement with Marco for the city hall copy machine. The lease is $133.22 per month plus the cost of copies. Malecha said this cost is lower than the previous lease.
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How Many Leases Do You Have?
By 1 January 2019, public companies will be expected to comply with ASC 842 and IFRS 16, the two new standards that will impact lease accounting. These rules are changing how firms recognize, measure, and disclose operating leases, and how they report them on corporate balance sheets. As CFOs prepare their companies for the new standards, one of the biggest operational challenges is understanding how many leases they hold. It seems straightforward, but operational leases have previously only...
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Resolution 27 for a lease agreement on a copy machine to
¯ Resolution 27 for a lease agreement on a copy machine to be shared between the senior center and Youth Recreation Department for $110 per month. http://www.observertoday.com/news/local-region/2018/02/council-to-vote-on-athenex-watersewer-line/
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Xerox sued over leasing fees and business practices
A California company has filed a federal lawsuit against Xerox Corp., seeking class-action status, claiming the global document technology company charges excessive and illegal fees for services, equipment and supplies. “Xerox induces individuals and entities to contract for equipment and supply services without disclosing the true cost of such services,” according to the 22-page complaint filed in U.S. District Court in Rochester on Tuesday. “Xerox also buries unconscionable and...
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LeaseAccelerator and RSM to provide end-to-end lease accounting solution for middle market
RESTON, Va. , May 9, 2018 /PRNewswire/ -- LeaseAccelerator, the leading provider of Enterprise Lease Accounting software, announced today that RSM US LLP ("RSM") has joined its global partner program. RSM is the nation's largest provider of audit, tax and consulting services focused on the middle market with more than 9,000 professionals in 90 cities across the US. To support the recent wave of major accounting changes being introduced by the standards boards, RSM has developed a lease...
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Lease Rate Checks!
We haven't done this in awhile, can everyone post their lease rates for FMV over 3K please. I can start: 36 months .0297 48 months .0241 60 months .0199
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LCA Leasing
Just heard that they are exiting the copier leasing business. Anyone else hear that?
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Percentage of Office Equipment Leases?
Sorry for the double post. I posted this originally in the Premium forums and it was meant for the open forums. Curious if anyone out there has data about lease terms. What I'm looking for is the percentage of 36 month leases that are booked each year on average. Can anyone help?
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Percentage of Office Equipment Leases?
Curious if anyone out there has data about lease terms. What I'm looking for is the percentage of 36 month leases that are booked each year on average. Can anyone help?
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Looking for Copy of Canon Flate Rate program
Does anyone have a copy they can email me? lease and sales order
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Best (For Getting Startups Approved) Leasing Companies
We have a gap in trying to get startups and borderline credit people approved. Anyone finding a particular bank better for getting tricky deals done?
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Xippa, the Copier Lease Negotiation Company Celebrates Its 10th Anniversary
Sammamish, WA, May 06, 2019 --( PR.com )-- Xippa offers negotiation services for consumers that lease and contract for copiers, multifunction devices (MFD), Managed Print Services (MPS) and IT Managed Services throughout the United States. Xippa was founded by Wade Cascini, an Attorney in the State of Washington with over 25 years in the copier and printer industry, including outsourcing of mail and copy operations and MPS to numerous Fortune 500 and mid-market sized companies. “Xippa has...
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Re: Lease rates increasing?
USB, our primary partner, has informed me that "there may be an increase coming in the near future". So far, no increase. I have heard nothing from our secondary funding partners.
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Re: Lease rates increasing?
I have spoken with 8 different leasing companies and the consensus is that all of the companies will be raising lease rates - some doing it as soon as Mid-January and others around February 1st. I have seen an email that was sent from a top 3 copier leasing company to a dealer that stated "rates will be increasing effective February 1st, 2017". In my opinion, it is not a question of "if", it is a question of "when". While the Prime rate only increased 25 basis points (quarter point), banks...
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Re: Lease rates increasing?
I will not be uplifting or changing current rates to our reps at this time.
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Re: Best (For Getting Startups Approved) Leasing Companies
Excellent personal credit and I would try Marlin and TIAA first. Can anyone else help with this Let's not be shy
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Re: Best (For Getting Startups Approved) Leasing Companies
Marlin has been decent. Sometimes there is someone like an attorney, and then Marlin says due to the type of business, even a good PG won't help. It seems there would be someone who would fund at a higher rate or with 25% down or something...
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Re: Best (For Getting Startups Approved) Leasing Companies
Balboa is another one. I believe they will take just about anything BUT I would almost guarantee your customer will be extremely pissed after using them. Double edge sword I guess.....
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Re: Xerox sued over leasing fees and business practices
Seems like some poor soul got pissed off because they did not read the fine print. Curious how this will pan out.
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Re: Xerox sued over leasing fees and business practices
That's what I was thinking. Someone got pissed because they didn't read their agreement.
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Re: Xerox sued over leasing fees and business practices
I guess another question to ask is: If we are acting as consultants to our clients, is it our duty to point out the "gotchas" in the fine print for the buyer? In my opinion, that is what differentiates the consultant from the salesperson. If Xerox had asked the client to sign an acknowledgment that these items were discussed, maybe the lawsuit could be avoided.
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Re: Xerox sued over leasing fees and business practices
Good point, however I've seen many over the years with selective memory when I've pointed out the t&c's at the signing of the documents. In other cases I've had many accounts that read the entire t&c's and questioned most of the pitfalls. its those terms that are ambiguous that get clients going, such as "we may raise the service rate on an annual basis". Very opened ended, no cap on increase, in 99% of the time, there is an annual increase
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Re: Xerox sued over leasing fees and business practices
I had a customer who felt the Xerox hung the moon and switched vendors prior to lease end. All my attempts to meet with the guy were thwarted. The Xerox rep did nothing to inform him what was about to happen so he ended up with lots of gotchas because he wouldn't meet with me and the Xerox rep didn't care enough to hold his hand through it all. My point is, sometimes it is the responsibility of the new vendor to educate the customer.
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Re: Xerox sued over leasing fees and business practices
The acnowledgement was when they signed the contract. If someone who is authorized to sign legally binding contracts for a company is not informed enough to read them before authorizing it is a training issue. I advise clients and build separate Master Lease Agreements for my large clients to eliminate some of the fluff charges. Other smaller clients I tell them it is a cost of doing business.
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Re: Xerox sued over leasing fees and business practices
Xerox isn't the only vendor who is using this sort of practice to make money. Many of the OEM's have similar contracts. Lease and service contracts are intentionally created to hide fees and leave the customer open too being billed for extras. An extra charge for using thick paper, to ship the customer toner, no mentioned of service price increase when combo billing under lease contracts, ect.. are all used to find profit opportunists. I am shocked it has taken this long for a case to be filed.
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Re: Xerox sued over leasing fees and business practices
Who's largely to blame for these practices? WE ARE. We are if we pick our leasing partners based on the rate factor rather than the contract terms. All of these "alternative forms of revenue" are the leasing company's way of getting back the profits lost by OUR demand for lower rate factors. You can try to blame them all you want but it is all in response to our demands.
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Re: Xerox sued over leasing fees and business practices
Dealers get the lower rates from the leasing companies and then mark them up to their sales force who in turn may or may not mark them up to the lessee. One reason why equipment lease will probably be regulated in the near future. Which means more paper!! yay! I do agree with Brian, no other documents should be required besides the lease. The Lessee needs to read the lease, if they don't understand the lease then they need to ask questions or give it o their attorney for review. But once you...
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Re: What Would You Do?
I would send them a 39 month new lease. Or ask them, hey I wrote this at 60 months instead of 39. Is that ok. The new equipment will last and we guarantee it. Eddy Jones VP of Marketing ISG Division Ethos Technologies 540-815-8214 cell 540-389-4400 office www.e-thostech.com
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Re: What Would You Do?
I agree with Czech and I think you know what the right thing is. Years ago I competed against a rep who habitually "sold" 36 month terms put left the term box blank until after the signature. That's not what you did but if you turn in a 60 month term, the result would be the same.
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Re: What Would You Do?
Agreed, and thanx everyone, sent the lease for the 39 months and got it back in 20 minutes or so. Did not even mention to the client that the first lease that was signed was for 60 months. I did offer a reduce monthly price for 60, but client opted for 39. Whew!! As Czech stated, "Can't go wrong doing the right thing."
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Re: What Would You Do?
Good move! Do the right thing. A competitor of ours is now out of business for doing stuff like that. They would leave the line blank and then go back to the office and write 63 months. Have seen deals where they went and upgraded a lease that was a year old for a new 63 month term at 1,000.00 a month and the customer signed it and never got any new equipment and was stuck with two leases.
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Re: What Would You Do?
I've heard of that also, leaving the term blank. What BS, that's one of the reasons many hate copier dealers, ty for the response
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Pulaski Commissioners to Consider Copier Lease Options Today
The Pulaski County Commissioners will consider health insurance and copier lease options this morning. The commissioners will be asked to approve a contract with Cardinal Copier Solutions. The company got a favorable recommendation from the county council last week, after it said it could save the county $30,000 a year. https://wkvi.com/2020/06/pulaski-commissioners-to-consider-health-insurance-copier-lease-options-today/
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Equipment leasing rebounds
Equipment leasing rebounds Survey results published by the Equipment Leasing & Finance Foundation - confidence in the equipment finance market is 48.4, an increase from the July index of 45.3 - 89% of equipment finance companies have offered payment deferrals, including extensions, modifications or restructuring - 76% expect that the default rate will be greater in 2020 than in 2019 - 81% have not furloughed or laid off employees - 24.1% believe business conditions will improve over the...
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Re: Leasing MNS Hardware VS Copiers?
Not being specifically in the MNS/MIT side I can only answer what I know from having good friends and some networking references in that space. I still hear an awful lot about leasing in the MNS/MIT space as it helps keep the technology current. Several of my larger clients run their copier leases as 36 month FMV to mirror their tech leases. They see the value in the tech recycle and are moving some of their stuff to the cloud so they need to lease less hardware. We've seen a good split on...
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Leasing MNS Hardware VS Copiers?
I posted this to LinkedIn and discussed with some people already, but I would love to get more perspective on a trend I see. I work with copier dealers that successfully lease the majority of their sales, but on the MNS side most customers are paying cash. 1. Why did customers first start leasing copiers rather than cash or traditional financing? How did it come about that 90% of all sales in the BTA channel are leased? 2. Where is the disconnect for MNS/MIT hardware? Is it just how it's...
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Re: Leasing MNS Hardware VS Copiers?
Can anyone help with this? @Monte @John @TML @Jason H @JasonR @Ricoh914 @sellingroanoke @Kevin Foley @BigBird