Law on financial leasing governs:
- financial leasing transactions
- financial lease agreements
- rights and obligations of parties to a financial leasing transaction
- terms of performing financial leasing transactions
- supervision of Lessors’ operations and
- the Register of Financial Leases.
Financial Leasing Transaction
A financial leasing transaction means a financial intermediation transaction which is performed by the Lessor and implies that the Lessor, while retaining the right of ownership of the Lease Asset, transfers to the Lessee, for an agreed period of time, the right to possession and use of the Lease Asset, including all risks and rewards incidental to ownership, in return for the Lease Payment which the Lessee pays to the Lessor, provided that at least one of the following conditions has been met: Continue reading Parties to a financial leasing transaction