Presentation on theme: "Once approved, other documents required from the client and the function of each of the documents: Signed and fully completed Rental Agreement (including."— Presentation transcript:
Once approved, other documents required from the client and the function of each of the documents: Signed and fully completed Rental Agreement (including the schedule/s and Authority to pay letter thereto) Company resolution – this is required if the signatory on the contract does not reflect on CIPC as a director. We require proof that the person signing the rental agreement has the authority to bind the company. Acceptable Social and Environmental Checklist to be completed. This is a requirement from the Industrial Development Corporation (IDC) for environmental awareness. Confirmation of turnover – as per the Credit Protection Act (CPA) we require the confirmation of turnover or Net Asset Value (NAV) to establish which agreement should be signed Proof of Banking Details / Cancelled cheque Landlord and Insurance Details Signatory’s ID copy
Approval conditions: Approval conditions that need to be met before deal activation will be noted on the approval form / report. Approval is only valid for 3 months Sunlyn will only finance the equipment and make for which the Supplier is approved for Process if terms and conditions are altered on the Rental Agreement and how they should be altered: Any variation to the standard terms and conditions must be submitted to us for consideration and approval. We will enter into negotiations with the client to come to Terms for the Agreement.
Requirements Prior to Payout Completed original Rental Agreement Acceptable Social and Environmental Checklist Original invoice Landlord details Insurance details Complete installation of equipment and client to acknowledge that all is in order All approval conditions to be met Note: Unsigned alterations and / or amendments to Rental agreements as well as agreements that contain correction fluid will not be accepted for processing
Sunlyn Invoice Instructions TO: SUNLYN (PTY) LTD 29 SCOTT STREET WAVERLEY VAT: TO BE DELIVERED ON YOUR BEHALF TO: Client Name: (Full legal name and Entity) Physical Address: (Exact address where equipment will be delivered) VAT: ____________ Full description of goods and serial numbers. Amount – (remember to include R2,000 (Exc. VAT) documentation fee) Supplier Full Name and Legal Entity Registration number VAT number Banking details Physical address Contact numbers
Once deal was activated Ownership will reverts back to supplier at end of term of contract. Supplier pay a minimum ownership fee of R1,500 (excl Vat). It is up to the supplier to decide if: They want to pass ownership to the client (Sunlyn does not get involved in passing ownership to client.) Keep the equipment to create secondary income by renting it for example on a short term rental. Client / supplier to give one calendar month’s of term prior to the expiry of the rental agreement. If no notice is received the rental will continue until notice of termination is received, unless a residual value is applicable. Sunlyn cedes all right, titel and interest in and to the rental agreement to Sasfin Bank Limited Sasfin will invoice client and debit order will be through Sasfin – all Sunlyn deals are 100% ceded upfront to Sasfin.
Settlements Normal Settlement: (Non-Upgrade) 1) Rental x Period a. Will bind the client if he / she wants to settle deal b. Will inform Supplier before settlement, so that supplier can offer client new equipment. Upgradable Settlement: 1)Preferential NPV when client wants to upgrade with existing supplier for bigger / latest equipment. Ensuring that they use same supplier. 2)Include the suppliers right of ownership in and to the “old” goods.