Glossary

*Leasing* 

 - a way to secure funding for business growth combined with tax optimization. 

 - an investment tool that allows a business to upgrade fixed assets and procure essential equipment or other non-consumable commodity without tying up own resources. 

 - a type of investment where the lessor (leasing company) buys equipment from the supplier and then leased it out for a fee, for a certain period, and on certain terms to the lessee (customer), with an eventual transfer of title to the lessee.  

*Subleasing* - a type of renting out the leased asset where the lessee under the lease contract is leasing assets received from the lessor under the lease contract to third parties(lessees under the sublease contracts) to be used for a fee under the conditions of the sublease contract. 

*Lessor* - a natural or legal person that uses own or borrowed funds to buy assets as part of a leasing deal and leases it out to a lessee for a fee, for a certain period, and on certain terms for temporary possession and use. 

*Lessee* - a natural or legal person that is obligated by the lease contract to accept the leased asset for a fee, for a certain period, and on certain terms for temporary possession and use under the lease contract. 

*Seller* (supplier) – a natural or legal person that sells assets manufactured (or bought) by the seller to the lessor under the sale contract with the lessor, which constitute the object of lease. 

*Insurer* - an insurance company participating in the leasing deal by providing insurance against property, transport and other risks associated with the object of lease and/or the leasing deal.

*Object of lease* - any non-consumable commodities, including enterprises and other asset complexes, buildings, structures, facilities, equipment, vehicles and other movable and immovable property (except land and other natural sites, as well as property that may not be freely circulated under federal laws). The object of lease made available to the lessee remains the property of the lessor (leasing company). The lessee becomes the owner of the object of lease after paying all lease payments. 

*Lease payments* - payment for possessing and using the object of lease.