LEASE

The lessor undertakes to acquire in the property specified by the lessee of the property designated by seller and to provide to the lessee the property for payment for temporary possession and use. Most often, this is done for business purposes. In world practice widely disseminated consumer lease. The contract may provide that the choice of the seller and the acquired property make the lessor. The lessee may initially be the owner of the property.

3. The legislative acts of the Republic of Kazakhstan may establish the peculiarities of individual types of lease contract.

LEASE

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Thursday, December 3, 2015

Vol XCIII, No. 311

Any inconsumable things, including enterprises, buildings, constructions, equipment, vehicles and other movable and immovable property can be leased.

A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset. Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. The lessor is the legal owner of the asset; the lessee obtains the right to use the asset in return for rental payments.

The leasing object cannot be land plots and other natural objects, as well as the property that the national laws prohibited for free circulation or for which a specific treatment.

Subtitle

The subject matter of leasing, transferred for temporary possession and use to the lessee, is the property of the lessor. The subject of leasing transferred to the lessee under the contract of financial leasing is recognized on the balance sheet of the lessor or the lessee by agreement of the parties.

The leasing objects is attributed to one or another specialized group. Depending on the profile belonging to the group are used to calculate the risk of leasing transactions. In the conditions of economic instability risks, indemnity residual value in the sector of car leasing is minimal.

Types of leasing, depending on term of useful use of object of leasing and economic essence of the contract of leasing:

o Financial leasing (financial rent). The term of the lease agreement is comparable to the term of useful use of object of leasing. As a rule, at the end of the lease agreement the residual value of the leased object is close to zero, and the object of lease without any additional payment to become the property of the lessee. In fact, is one of the ways to attract targeted funding lessee (for acquisition or leasing).

o Operating lease. The term of the contract of leasing is substantially less than the useful use of object of leasing. Usually leased are already available to the lessor's assets (cannot be a third party — the seller). At the end of the contract, the leased asset either is returned to the lessor and may be re-leased or bought back by the lessee at the residual value. Leasing rate is usually higher than for financial leasing. The economic essence is a type of lease.

The term rental agreement is also sometimes used to describe a periodic lease agreement (most often a month-to-month lease) internationally and in some regions of the United States.

The main schedules adopted in practice lease payments are as follows:

The lease may provide for maintenance of the supplied equipment, training, etc. In the contract is possible under the right (or obligation) of lessee to purchase goods at the end of the lease term.

regressive (monthly payment during the term of the lease decreases);

annuity (monthly payments during the lease term remains the same);

Leasing in Kazakhstan.

Article 565 of Civil Code.

Article 565. The lease agreement

1. Under a leasing contract the lessor undertakes to acquire in the property specified by the lessee the property from seller and to provide to the lessee the property for temporary possession and use for entrepreneurial purposes for a fee.

seasonal (payment schedule is tied to the seasonality of the business of the lessee)

2. The lease agreement may stipulate that the choice of the seller and acquired property by the lessor.

A special case is a lease in which the seller of the leased property is also the lessee. In fact, this form of a loan secured by the productive assets and generate additional economic impact of differences in taxation.