Leasing. What it is? Different aspects
In the Russian legislation in the mid-1990s, the term "leasing" was also designated. What is it from the point of view of the Civil Code adopted in 1996? According to Article 665 of the second part of the Civil Code, financial leasing (leasing) is defined as the aggregate of relations in which the lessor, at the direction of the lessee or at his own discretion, buys certain property, which subsequently transfers to the tenant for use and possession for a set period of time.
Any objects can be purchased according to the scheme in which leasing is involved? What is this in terms of the subject of the transaction? According to Article 666 of the Civil Code, only items that are depreciated over long periods of time (non-consumables), such as real estate, equipment, machinery, can be transferred to financial leases. Exceptions are natural formations, land plots and objects, the turnover of which is limited by any laws.
What normative acts still regulate leasing? What it is, also can be learned from the law of the federal level No. 164-FZ (adopted in 1998, October 29). Here, an interpretation similar to the definitions of the Civil Code is given, and detailed formulations are proposed for the entire procedure for conducting operations. For example, article 4 of the law specifies that the seller of leasing objects, the lessor or the lessee can be either a resident of the Russian Federation or a non-resident.
The leasing agreement is concluded in a binding manner in writing between the lessor and the lessee. However, in schemes of this kind, quite often there are other persons - insurance companies and banks. The former are engaged in minimizing various risks associated with the supply and operation of equipment. And the latter are often the founders of leasing companies that receive funds from banks for operations in the form of loans with favorable interest rates. The agreement may provide for such an option for the completion of the relationship, when the lessee acquires property after the contract expires and certain conditions are met (the entire amount of the equipment cost is repaid in the form of lease payments, etc.).
It is possible to buy expensive objects on leasing in the external and internal markets. For this case, the appropriate types of financial leases are allocated. If all parties to the contract are residents, then leasing is recognized as internal, and if one of the parties is a non-resident, it is external.