From the start you are responsible for choosing the equipment from the supplier, so you have to be very cautious of its quality. You are also responsible for maintaining the equipment in good mechanical condition. We will carry out routine inspections to make sure the equipment is maintained properly. The client is expected to meet the full cost of repair should there be a mechanical.
No. You do not have to be a customer of dfcu Bank to qualify for a lease facility. However, you will be required to open an account with dfcu Bank on approval of the lease.
Repayments are structured to match the cash flow of your business. For instance, repayments for a school will be structured to fall at the beginning of school terms. A normal lease period is 2 to 5 years depending on the type of equipment financed and the lessee’s own anticipated cash flow.
Yes! One can lease more than one product provided they have adequate cash flows to maintain the repayments.
Throughout the lease period dfcu Bank (lessor) retains full ownership of the leased asset with the understanding that the client uses and keeps the asset in good working condition. The client is required to keep the asset comprehensively insured at all times during the lease period. Through our Insurance Premium Financing (IPF) facility, we provide financing for insurance and the customer pays for it during the lease period.
The client identifies the equipment that meets their personal or business requirements. We will however verify that it: is of good and merchantable quality; is from a reputable supplier; and is priced competitively, before paying for it.
The lease amounts vary from UGX. 50M to over UGX. 15BN or the US dollar equivalent. However, transaction outside this range.
Properly established businesses; companies, partnerships, sole proprietors and individuals who can practically demonstrate a steady cash flow to meet rental payments.