Lease financing program to renew the machine and tractor fleet within the framework of support for domestic manufacturers agricultural engineering
Since 2018, JSC “IDF” has been the operator of the Lease Financing Program for the renewal of the machine and tractor fleet as part of the support of domestic manufacturers of agricultural machinery. The purpose of the Program is to support the development of the production of domestic agricultural machinery and renew the critically worn out machine and tractor fleet of the Republic of Kazakhstan by providing leasing financing from the JSC “IDF”, a subsidiary of the Development Bank of Kazakhstan Joint Stock Company.
| Funding currency | tenge |
|---|---|
| Grace period for payment of principal and remuneration | established by the decision of the Authorized Body of the Lessor |
| Frequency of repayment of the amount of remuneration | at least 1 (one) time per quarter (by decision of the Lessor's Authorized Body) |
| Frequency of repayment of the principal amount | at least 1 (one) time per year (by decision of the Authorized Body of the Lessor), while the first repayment of the principal debt is carried out after the transfer of the leased asset into temporary possession and use under a financial lease agreement |
| Commissions | are not charged, with the exception of commissions, fees and / or other payments charged due to violation of the leasing terms by the Lessee |
| Insurance of the leased asset under the CASCO program | at the expense of the Lessee |
| Transfer of leased items to sublease | prohibited |
| The maximum production and delivery time of the leased item | 9 months from the date of signing the sales contract. In case of a bilateral sale and purchase agreement, the delivery time is negotiated in accordance with its terms and conditions and an additional agreement to the sale and purchase agreement concluded with the Lessee |
| Additional costs (service and agency services) | the amount of additional costs for service and agency services are determined independently by the Manufacturer and the Lessee by concluding agreements for agency and service services. At the same time, the amount of agency services charged annually by the Manufacturer from the Lessee should not exceed 1% (one percent) of the balance outstanding by the Lessee to the Lessor of the value of the leased item |
