Putting Lease Financing out to tender

Putting Lease Financing out to tender

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We use a third party finance house to lease machines with an average value of £1.2K to Customers. For audit purposes we need to put the provision of this service out to tender. This has not been done before and we are struggling to find examples of similar tender documents that we could use to provide a guide to what we send out.
Does anyone know of a resource that we could use that would help ?
Julie Crossley

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By neileg
10th Jul 2002 08:53

Mmmm...
This kind of audit requirement usually comes from the public sector, but such small amounts to individual customers doesn't sound like the public sector I know!

I work for a local authority and we have just finished an exercise on third party leasing, albeit for substantially larger amounts. We found it difficult to compare offers due to different legal agreements. In the end we prepared our own lease terms, and finance companies were asked to bid on this basis. The bidders were, however, drawn from a list of approved tenderers anyway.

What stikes me as odd is that the provision of the lease in your case is to your customers, so the contract is between the leasing company and them, not you.

I guess the bottom line is that I don't have any documents I could share to help you. If you are from the public sector, send a message to the editor here with your contact details, and I'm sure they will forward it on to me. We could have a chat to see if it would help.

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