Forms and types of leasing. Various forms and types of leasing

Today, various types of leasing are used in world practice, each of which is characterized by its own specific features. The most common forms of leasing include:

• operatinglease (operational or service);
• financial lease (financial or capital);
• sale and lease back (returnable);
• leveraged lease (separate or credit);
• direct lease (direct), etc.

But it is worth noting that the currently existing types of such agreements are varieties of 2 basic forms of leasing - operational or financial.

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Form classification

In relation directly to the leased property, as a rule, leasing is divided into 3 components.

1. Partial leasing (i.e. only certain functions of property maintenance are assigned to the lessor).
2. Full leasing (i.e. the lessee assumes all the costs of maintaining the property).
3. Net leasing (i.e. all maintenance costs are borne by the lessee).

According to the type of financing, leasing is divided into urgent (with a one-time lease of property), and renewable (when, after the expiration of the primary period, the leasing agreement is extended for the next period). In this option, a type of renewable leasing is general leasing, which allows the lessee to supplement the list of leased equipment without entering into new agreements/contracts.

Types of leasing

Leasing depending on the composition of the subjects (participants) of the transaction:

1. Direct leasing - the supplier (property owner) independently leases his object (bilateral transaction). However, according to the current Russian laws, a leasing company must necessarily take part in a leasing operation. This factor is the direct reason why direct leasing operations in Russia are not currently possible.
2. Indirect leasing is the transfer of property through an intermediary.
3. Joint-stock (separate) leasing - several companies of suppliers, lessors participate with the attraction of credit finance from a number of banks. This also includes insurance of leased property and the return of lease payments using insurance pools.

Leasing by type of property:

• real estate leasing (constructions, buildings, etc.);
• leasing of movable property (machinery, cars, equipment, etc.), including used and new.

Leasing by payback level:

• leasing with incomplete payback of property - during the current term of one leasing agreement, partial depreciation of property is performed, respectively, only part of it is paid off;
• leasing with full (or close to full) payback of property - during the current term of the leasing agreement, there is close to full or complete depreciation of property and payment to the lessor of the value of the property.

Leasing in accordance with the payback (depreciation conditions):

• operational (service) leasing. Operating leasing is a certain lease relationship, when the lessor's expenses related to the acquisition and, accordingly, the maintenance of the leased property are not covered by lease payments during the leasing contract. Often the contract is concluded for up to 3 years.
• financial (capital) leasing. Financial leasing is a relationship of partners, which during the current period of the contract (agreement) provides between the parties for the payment of leasing payments covering the absolute cost of depreciation of equipment or a large part of it, as well as the profit and additional costs of the lessor. At the end of the term of the leasing agreement, the lessee can purchase the object of the transaction at the residual value, conclude a new agreement for a shorter period and return the object of the transaction to the company at a reduced rate.

Depending on the participants in the transaction, leasing is divided into 2 sectors:

1. Domestic (participants in the transaction belong exclusively to one country).
2. External (international) - (one of the participants belongs to another country). In turn, international leasing is divided into:
   • imported, i.e. the lessor is a foreign party;
   • export, the lessee is a foreign party.

In relation to depreciation, tax benefits, leasing is distinguished with the use of benefits directly for the taxation of property, various fees, VAT, profits, accelerated depreciation, etc. and without benefits.

Separation of leasing by the nature of payments

By the nature of leasing payments, leasing is divided depending on:

1. Type of leasing (operational, financial).
2. Forms of settlements between the lessee and the lessor:
   1. cash (all payments in cash);
   2. compensatory (payments in the form of the supply of goods manufactured on equipment leased or by offsetting services provided to each other by the lessee and the lessor);
   3. mixed (payments in both specified forms).
3. The composition of the elements of payment taken into account (additional services, depreciation, insurance, leasing margin, etc.).
4. Applied accrual method:
   1. with an advance;
   2. with a fixed total amount;
   3. taking into account the repurchase of leasing property at the residual price;
   4. taking into account the frequency of application (monthly, quarterly, semi-annual, annual);
   5. taking into account the urgency of the payment (beginning, middle or end of the payment period);
   6. taking into account the option of payment depending on the terms of the agreement and the financial condition of the lessee (i.e. evenly equal shares or with decreasing and increasing size).

Types of leasing by risk level for the lessor

Guaranteed (secured) leasing, in which risks are usually distributed among several entities (guarantors of the lessee or insurance companies whose specialization is the insurance of the return of lease payments and leased property).

Partially secured leasing implies the presence of an insurance deposit that compensates for a certain share of the costs of the lessor, as well as “frozen” on the accounts of the borrowing (credit) organization until the expiration of the contract (agreement) and the absolute fulfillment of its obligations by the lessee.

Unsecured leasing is when the lessee, in fact, does not provide the lessor with additional guarantees for the strict fulfillment of its obligations.

Leasing: forms, types and types of leasing

The beginning of the regulatory legal regulation of leasing in Russia was laid by the Decree of the President of the Russian Federation of September 17, 1994 N1929 "On the development of financial leasing in investment activities." Adopted and put into effect in 1996, Part 2 of the Civil Code of the Russian Federation (Articles 665-670) began to regulate relations arising from leasing at the legislative level. For the purpose of comprehensive legislative regulation of leasing in Russia, on October 29, 1998, the Federal Law "On Leasing" N164-FZ was adopted (in the latest editions - the Federal Law "On Financial Leasing (Leasing)").

According to the Federal Law on Leasing - leasing- a set of economic and legal relations arising in connection with the implementation of a leasing agreement, including the acquisition of a leased asset.

The subject of leasing can be any non-consumable things, including enterprises and other property complexes, buildings, structures, equipment, vehicles and other movable and immovable property that can be used for business activities.

Federal law defines only two forms of leasing - domestic and international. Under domestic leasing, the lessor and the lessee are Russian enterprises. Under international leasing, a Russian enterprise - the lessee - leases machinery, equipment (or other leased items) from a foreign leasing company (or vice versa).

The law also provides for such a type of relationship as subleasing, associated with the assignment of the rights to use the leased asset to a third party for temporary use with the obligatory consent of the lessor (the consent and the subleasing agreement are drawn up in writing). However, when the rights of use are assigned, the lease payments are paid by the lessee.

A distinctive feature of international subleasing is the movement of the subject of leasing across the customs border of the Russian Federation only for the duration of the subleasing agreement.

Previous versions of the law provided for three types of leasing (long-term leasing; medium-term leasing; short-term) and three types of leasing (financial leasing, leaseback and operational leasing). They were excluded by Federal Law No. 10-FZ of January 29, 2002. However, all these types and types of leasing are used in practice, and their use is not a violation of the law, since the term of the leasing agreement and the conditions are determined, in accordance with the Federal Law "On Financial Lease (Leasing)", in the agreement itself.

Leasing types

Long term leasing- leasing for three or more years. This type of leasing is offered by most leasing companies. For example, the lease term for woodworking equipment usually ranges from up to 5 - 7 years and depends on the full depreciation period.

Medium term leasing- leasing, carried out for one and a half to three years. This type of leasing is also present on the leasing services market, turns out to be successfully developing small and medium-sized businesses. To obtain woodworking equipment for leasing, such companies usually do not require a detailed business plan, but they will have to pay an advance payment of up to 30% of its value. The interest rate will be approximately 10 - 12% of the cost of woodworking equipment per year.

Short term leasing- leasing, carried out for less than a year and a half. This type of leasing is less common, as it is less attractive to the lessee and, in terms of its conditions, is similar to obtaining a bank loan. But in this case too monthly lease payments in full reduce the tax base for income tax.

Types of leasing

financial leasing- a type of leasing, in which the lessor undertakes to acquire ownership of the property indicated by the lessee from a certain seller and transfer this property to the lessee as a leased asset for a certain fee, for a certain period and under certain conditions for temporary possession and use. At the same time, the period for which the subject of leasing is transferred to the lessee is commensurate in duration with the period of full depreciation of the subject of leasing or exceeds it. The object of leasing becomes the property of the lessee upon the expiration of the leasing agreement or before its expiration, subject to the payment by the lessee of the full amount stipulated by the leasing agreement, unless otherwise provided by the leasing agreement.

Operational leasing- a type of leasing in which the lessor purchases property at his own risk and transfers it to the lessee as the subject of leasing for a certain fee, for a certain period and under certain conditions for temporary possession and use. The term for which the property is leased is established on the basis of a lease agreement. Upon the expiration of the leasing agreement and subject to payment by the lessee of the full amount stipulated by the leasing agreement, the object of leasing returned to the lessor, while the lessee does not have the right to demand the transfer of ownership of the leased asset. In case of operational leasing, the leased asset may be leased repeatedly during the full depreciation period of the leased asset.

Both types of leasing do not go beyond the new version of the Federal Law. The law provides that the right to choose the seller of the acquired property belongs to both the lessee and the lessor and depends on the conditions stipulated by the contract.

The main features of financial and operational leasing are given in the table.

In operating leasing, the equipment is not fully depreciated over the period of use by the lessee, and can be leased out many times. Operational leasing contributes to the formation of a secondary property market, and is most often used when leasing used forestry equipment, loaders, vehicles, etc. with a service life of at least 10 years. In practice, operational leasing transactions do not exceed three years.

Return lease- a kind of financial leasing, in which the seller (supplier) of the leased asset simultaneously acts as a lessee.

However, the tax authorities may have questions on the merits of such a leasing agreement. Such agreements may be subject to a deeper and more detailed analysis by the tax authorities in terms of their compliance with the requirements provided for by the Law on Leasing. The examiner may conclude that the lease agreement mock concluded in order to cover up another transaction or reduce the tax burden.

If the tax authorities prove that the tax benefit from the leasing scheme is unreasonable, the company will be denied VAT deductions, charged unpaid income tax and brought to tax liability. Therefore, it is necessary to pay much more attention to the preparation of documents to justify the use of leasing and the drafting of the contract.

However, this also applies to other leasing schemes.

Priorov G.E.

1. FEDERAL LAW ON FINANCIAL LEASE (LEASING) N 164-FZ of October 29, 1998. (as amended by Federal Laws No. 10-FZ of 29.01.2002, No. 122-FZ of 22.08.2004, No. 90-FZ of 18.07.2005, as amended by Federal Laws of 12.24.2002 No. 176- FZ, dated December 23, 2003 N 186-FZ).
2. FEDERAL LAW ON LEASING in the first edition. Federal Law N 164-FZ of October 29, 1998.

In the following articles it is planned to tell what you need to pay attention to when concluding a leasing agreement; publish an overview of leasing companies operating in the market of forest machinery and woodworking equipment.

Leasing operations are equated to credit operations and are governed by the same rights and norms as credit operations. However, leasing differs from a loan in that after the end of the leasing term (agreement) and the payment of the entire amount stipulated by the agreement, the sale of leasing remains the property of the lessor (unless the agreement provides for the redemption of the leasing object at the residual value or transfer to the ownership of the lessee). With a loan, the bank reserves the right of ownership of the object as a pledge of the amount.

The general scheme of the leasing transaction and financial flows is shown in fig. one.

Rice. 1. General scheme of the leasing transaction and financial flows

There are two types of leasing:

- internal, when the lessor, lessee and seller (supplier) are residents of the Russian Federation;

- international, when the lessor or lessee is a non-resident of the Russian Federation.

If the lessor is a resident of the Russian Federation, i.e. the subject of leasing is owned by a resident of the Russian Federation, then the international leasing agreement is regulated by the Federal Law "On Leasing" and the legislation of the Russian Federation.

If the lessor is a non-resident of the Russian Federation, i.e. the subject of leasing is owned by a non-resident of the Russian Federation, then the international leasing agreement is regulated by federal laws in the field of foreign economic activity.

The main types of leasing include long-term leasing, carried out for three or more years, medium-term leasing, carried out for one and a half years, and short-term leasing, carried out for one and a half years.

Main types of leasing: financial, returnable and operational.

Financial leasing is characterized by a long contract term (from 5 to 10 years) and depreciation of all or most of the cost of equipment. In fact, financial leasing is a form of long-term purchase credit. After the expiration of the financial leasing contract, the tenant can return the leased object, extend the agreement or conclude a new one, and also buy the leased object at the residual value (usually it is purely symbolic).

In addition, according to the objects of transactions, leasing is divided into leasing of movable (road, air and sea transport, wagons, containers, communications equipment) and immovable (commercial and office buildings, industrial premises, warehouses) property. In real estate leasing, the lessor builds or buys real estate on behalf of the tenant and provides it to him for economic and industrial use. Just as in transactions with movable property, the contract is usually concluded for a period less than or equal to the depreciation period of the object. The tenant bears all risks, costs and taxes during the term of the contract. The risk of accidental loss or accidental damage to the leased property passes to the tenant. The responsibility of the lessee for these risks occurs at the moment of transfer of the leased property to him, unless otherwise provided by the financial lease agreement.

In relation to the leased property, one can single out a pure leasing agreement, when the tenant assumes additional costs for servicing the leased property, and a full leasing agreement, if maintenance, repair, insurance, etc. lie with the lessor. In this case, one speaks of leasing, which includes additional obligations.

The subject of this type of leasing is, as a rule, invested specialized equipment, some types of construction equipment, etc. Financial institutions and banks rarely use this type of leasing, as they do not have the necessary technical base.

Based on the peculiarities of the organization of relations between the borrower and the leaser, direct leasing is allocated, when the manufacturer or owner of the property acts as a person leasing it, and indirect, in which leasing is carried out through a third party.

According to the method of financing, there is a difference between fixed-term leasing, in which a one-time lease is carried out, and renewable (revolving), in which the leasing agreement continues after the expiration of the first term of the contract.

In practice, other types of leasing are also used.

returnable leasing is a type of financial leasing, in which the seller (supplier) of the leased asset simultaneously acts as a lessee. At the same time, leaseback in the Federal Law "On Leasing" is called one of the main independent types of leasing. It consists in the sale by the owner (industrial enterprise) of equipment to a leasing company with the simultaneous conclusion of a leasing agreement for this equipment as a user. There are only two participants in such an operation: the tenant of the property (the former owner) and the leasing company (the new owner). As a result, the original owner receives the full cost of the equipment from the leasing company, retains ownership and periodically pays for the use of the equipment. Such a transaction allows the company to receive funds through the sale of means of production, without stopping their operation, and use them for new capital investments. The profitability of this operation will be the higher, the income from new investments
more than the amount of rent. Leaseback operations cause a decrease in the balance sheet of the enterprise, as they lead to a change in the ownership of the property.

Such a deal can also be resorted to when the company has a rather low level of income and, therefore, it cannot fully benefit from the benefits of accelerated depreciation and profit taxation. It makes a deal, and the leasing company receives its tax benefits. In response, she lowers the rent.

Operational Leasing involves the transfer to use of reusable property for a short and medium term, usually shorter than the economic life of the property (depreciation period). In this case, the tenant, subject to a certain period of the contract, has the right to terminate the contract.

After the expiration of the term, the equipment may become the object of a new leasing contract or be returned to the lessor. Usually, construction equipment (cranes, excavators, etc.), transport, computers, etc. are rented out for operational leasing. Quite often, the leasing company undertakes the maintenance of the leased object, i.e. routine maintenance, insurance. Thus, it carries out full-service leasing or partial-service leasing (the contract stipulates the separation of obligations).

In addition, a leasing agreement is distinguished with a full payment and a partial one. In full payment leasing, the leasing company recovers its cost of the equipment during the contract, i.e. the amount of periodic payments is calculated in such a way as to compensate for the cost of equipment and bring profit. Financial leasing is usually carried out with full payment.

Leasing with partial payment implies the return by the leasing company of only part of the cost of the equipment during the period of the contract. An operating lease is an example of a partial payment lease. The same equipment is rented out by the leasing company for temporary use several times and as a result all expenses of the company are compensated.

The Federal Law "On Leasing" (Article 15) names two more types of leasing - complex and mixed, but they are not defined.

Since often a leasing company does not have enough own funds to carry out leasing operations, it can attract them from outside. Such an operation has learned the name of leasing with additional attraction of funds - leverage (credit, share, separate). It is estimated that in the West over 85% of all leasing transactions are fundraising leasing, i.e. based on leverage-leasing. The lessor takes out a long-term loan from one or more lenders for up to 80% of the value of the leased assets (non-recourse to the lessee), with the rent and equipment serving as collateral for the loan. The main lessor receives a preferential right to receive rental payments. The contract usually stipulates that in the event of bankruptcy of the third link (intermediary), the rent will go directly to the main landlord. Such transactions are called subleasing.

Thus, subleasing is a special type of relationship that arises in connection with the assignment of the rights to use the leased asset to a third party, which is formalized by a subleasing agreement. In case of subleasing, the person carrying out this operation accepts the object of leasing from the lessor under the leasing agreement and transfers it for temporary use to the lessee under the subleasing agreement. In this case, the consent of the lessor in writing is required. Assignment by the lessee of its obligations to pay payments to a third party is not allowed.

With international subleasing, the movement of the leased asset across the customs border of the Russian Federation is possible only for the duration of the subleasing agreement.

A variety of leasing are double-din transactions used in the international sphere. Their meaning lies in the combination of tax benefits in two or more countries. For example, in the early 80s. the acquisition of a number of aircraft was credited "double din" between the US and the UK. The benefits of tax credits are greater in the UK if the landlord has title to the property, and in the US it is greater if the landlord has only title to the property. A leasing company in the UK buys an aircraft, leases it to an American leasing company, which in turn leases it to local airlines.

Recently, the practice of including an agreement between equipment manufacturers and leasing companies has become widespread. In accordance with these agreements, the manufacturer, on behalf of the leasing company, offers customers financing for the supply of their products through leasing. Thus, the leasing company uses the supplier's trading network, and the supplier expands the boundaries of product sales. These are deals that have come to be known as “sales assistance.”

With constant and close cooperation between enterprises and leasing companies, it is possible to conclude agreements on the provision of a "leasing line". These agreements are similar to bank credit lines and allow the tenant to lease additional equipment without concluding a new contract each time.

The legal basis for the regulation of leasing is Chapter 34 of the Civil Code of the Russian Federation “financial lease” (leasing), as well as Federal Law No. 164 of October 29, 1998 “on financial lease” (leasing). The Civil Code of the Russian Federation formulates the main provisions on leasing, and Federal Law No. 164 details the essence of leasing relations, sets out special rules that allow distinguishing leasing from other lease relations, the listed rights and obligations of the parties under a leasing agreement.

Leasing is one of the forms of long-term financing of the fixed capital of an enterprise (equipment, machinery, buildings and structures), which is not its property. The word leasing comes from the English verb to laze, which means to lease and lease property. Since 1998, Russia has been a member of UNIDROIT (an international institute for the unification of private law in Rome, the organization has adopted a number of conventions). The UNIDROIT Convention on International Financial Leasing was adopted in Atava (Canada) in May 1988, Russia joined them in 1998 in accordance with the Federal Law No. 16 “on the accession of the Russian Federation to the UNIDROIT Convention on International Financial Leasing”.

Leasing is the leasing of various technical means, buildings and structures, mainly for the medium and long term. Classic leasing is carried out as part of a tripartite deal. The leasing company (lessor) acquires from the manufacturer (owner and seller) property at the choice of the client (tenant), which is transferred to the disposal (lease) of the latter (tenant). A bilateral transaction is when the owner sells and then leases the sold property. In any form of leasing, the relationship is fixed by a leasing agreement.

Financial leasing is a lease with the right to purchase property that is leased at residual value. In the general case, leasing is an agreement according to which one party (the lessor), the owner, transfers to the other party the tenant the right to use some property for a certain period and on the agreed terms; usually such an agreement provides for the payment of a regular payment for the equipment used throughout the entire period of operation. At the end of the term of the agreement or in the event of its early termination, the property is returned to the owner, however, more often leasing contracts imply the right of the tenant to buy out the property at a reduced or residual value or conclude a new leasing agreement.

Currently, in different countries in economic practice, various forms are used, and types of leasing, each of which is characterized by its own specifics.

The most common are:

1) Operational (service) leasing is sometimes called operational

2) Financial (capital) leasing

3) Leaseback

4) With the participation of a third party (share)

5) Direct leasing

An operating lease is an agreement on a current lease, usually the term of such an agreement is less than the full depreciation period of the leased asset. The rent stipulated in the contract does not cover the full cost of the asset, which makes it necessary to lease it several times. The most important feature of this leasing is the tenant's right to early termination of the agreement or contract. The contract usually provides for the provision of services for the installation and ongoing maintenance of the leased equipment.

The main objects of operational leasing include rapidly aging types of equipment and technically complex ones that require constant maintenance. This type of leasing is more beneficial for the tenant. the possibility of early termination of the lease allows you to get rid of obsolete equipment and replace it with a more competitive one, in addition, in an unfavorable market situation, the tenant can stop this type of activity by returning the equipment to the owner and reducing the costs associated with the liquidation or reorganization of production.

For the landlord, the risks are higher. Such leasing implies a higher fee, a requirement for an advance payment or a prepayment of a penalty and other conditions designed to reduce the risk of property owners.

Financial leasing is a long-term agreement that provides for the full depreciation of the leased property at the expense of a fee paid by the lessee. Unlike operational leasing, it significantly reduces the risk of the owner. In fact, the terms of the agreement are identical to those for obtaining long-term bank loans. provide for the full repayment of the cost of the equipment (loans), the payment of a periodic fee, including the cost of the equipment and the income of the owner (payments on the loan - the main and interest part); the right to declare the tenant bankrupt in case of his inability to fulfill the concluded agreement, etc. the objects of this type of leasing include real estate, as well as long-term means of production

Financial leasing serves as the basis for other forms of long-term rent, returnable and shared.

Leaseback - is a system of two agreements in which the owner sells the equipment into the ownership of the other party with the simultaneous conclusion of an agreement on its long-term lease from the buyer. Commercial banks, investment, insurance, and leasing companies usually act as buyers.

Such transactions are often carried out during a business downturn in order to stabilize the financial position of the enterprise.

Shared leasing(with the participation of a third party) - involves the participation in the transaction of a third party - an investor, which is usually a bank, insurance or investment company in this case, the leasing company, having previously concluded a contract for the long-term lease of some equipment, acquires its property, paying part of the cost at the expense of borrowed funds (mortgage).

Lease payments, part of which is paid by the tenant, directly to the investor may also serve as collateral for borrowed funds. At the same time, the leasing company enjoys the benefits of a tax shield that arises in the process of depreciation of equipment and repayment of debt obligations. The object is usually high-value assets. Mineral deposits, equipment for extractive industries.

Direct leasing the tenant enters into an agreement with the leasing company to purchase the required equipment and then lease it to him. Such a lease agreement is most often concluded with the manufacturer directly (manufacturers such as IBM Xerox BMW Mercedes work on leasing terms)

Regardless of the type or form of leasing, it should be considered only as one of the alternative sources of financing for a particular project, after the results of an investment analysis show its economic efficiency, which is calculated similarly to the efficiency of an investment project. Thus, to assess the effectiveness of the use of leasing, the NPV from the project, the profitability index, and the discounted payback period are calculated.

The procedure for calculating lease payments. Feature is:

1. The frequency and methods of payment, which are established by agreement of the parties to the leasing agreement. The frequency can be annual quarterly. Payment may be in equal installments, in increasing or decreasing amounts. Calculation of the total amount of ongoing payments

LP \u003d AO (Depreciation charges) + PC (loan fee) + CF (commissions) + DU (additional services) + VAT

In practice, there are several types of leasing relations, which are determined depending on the type of leased property, forms of financing, the owner of the property, the composition of participants, the scope of the obligations of the parties, the degree of payback of the leased property and the payment of lease payments.

Earlier, prior to the amendments made to the Law “On Leasing” in January 2002, the forms, types and types of leasing were legally defined.

According to the forms of leasing was divided into domestic and international.

Three types of leasing were distinguished depending on the period of provision of property for leasing: long-term, medium-term, short-term.

By type of leasing was divided into financial, returnable and operational.

In the current legislation on leasing, only two main forms of leasing - domestic and international.

But, despite the fact that the new law does not clearly spell out the types and types of leasing relations, they can be distinguished according to various criteria, which, in particular, are indicated in the terms of the contract.

About Combining various classification features, we can distinguish the following types of leasing, shown in Table 1.

Table 1

Classification of types of leasing

Let us consider in more detail the above classification of leasing legal relations.

1. By type of operations:

financial leasing is the most common type of leasing. A type of leasing in which the lessor undertakes to acquire ownership of the property specified by the lessee from a certain seller and transfer this property to the lessee as a leased asset for a certain fee, for a certain period and under certain conditions for temporary possession and use. At the same time, the period for which the subject of leasing is transferred to the lessee is commensurate in duration with the period of full depreciation of the subject of leasing or exceeds it. The object of leasing becomes the property of the lessee upon the expiration of the term of the leasing agreement or before its expiration, subject to the payment by the lessee of the full amount stipulated by the leasing agreement, unless otherwise provided by the leasing agreement.

Operational (operational) leasing(it is also called leasing with incomplete depreciation) - this type of leasing involves the possibility of the lessor to rent out his property, which he purchases "at his own peril and risk", for rent repeatedly during the standard period of his service. As a rule, in operational leasing, the responsibility for maintenance, repair, insurance, as well as the risk of accidental destruction (loss, damage) of property lies with the lessor. Upon the expiration of the term of the leasing agreement and subject to the payment by the lessee of the full amount stipulated by the agreement, the leased asset is returned to the lessor, while the lessee does not have the right to demand the transfer of ownership of the leased asset. Usually, transport, construction equipment used to perform seasonal, one-time work, as well as equipment that quickly becomes morally obsolete, are leased into operational leasing.

2. Depending on the country of residence of the lessee and the lessor leasing is divided into domestic and international.

Domestic leasing- This is a type of leasing in which the lessee and the lessor are residents of the same state.

International leasing– when the lessor and the lessee are residents of different states.

3. Depending on the composition of the participants in leasing relations, equipment operations leasing is divided into direct, indirect, returnable, subleasing, "Levedge - leasing".

Direct leasing - the supplier is the lessor.

The advantage of this type of relationship for entrepreneurs who have chosen certain equipment from a certain supplier in order to lease it is to reduce the additional time spent searching for a leasing company that will purchase this equipment for him, and in general, simplify the transaction itself in many details, explained, in particular, by the absence of intermediaries.

Indirect leasing- the transfer of property is carried out through an intermediary (leasing company), thus. at least three parties participate in the leasing scheme: the supplier, the leasing company and the lessee.

Most leasing transactions are based on the process of indirect leasing, which is in many ways similar to the sale of products in installments. The intermediary, also known as the lessor, first finances the manufacturer's property and transfers it to the lessee, and then receives lease payments from him.

Return leasing is a type of financial leasing, in which the supplier (property owner) of the leased asset simultaneously acts as a lessee.

The lessee (supplier) sells his property (fixed asset) to the lessor and at the same time leases it, while receiving the right to own and use it. In fact, nothing changes in the use of property, the transfer of ownership occurs only documented. The money received for the sold property, the lessee can use for any production and even investment purposes, and under the leasing agreement, he will make lease payments in the usual manner.

Subleasing is a type of leasing in which the lessee, under a leasing agreement, transfers property to third parties (lessees under a subleasing agreement) into possession and use for a fee and for a certain period. That is, the Lessor leases the property not directly, but through an intermediary - the primary lessee, who accumulates lease payments and transfers them to the main lessor. When transferring property to subleasing, the right to claim against the seller passes to the lessee under a subleasing agreement. And also when transferring the subject of leasing to subleasing, the consent of the lessor in writing is mandatory.

Leverage leasing (partially financed by the lessor) - also called "credit", "separate" or "share". The meaning of leverage leasing is to combine several credit institutions to finance large leasing projects. It provides for attraction by the lessor of a long-term loan from one or two (simple option) or several (complex option) creditors in the amount of up to 70-80% of the value of the leased object. The lessor delegates part of the rights under the leasing agreement to creditors, that is, transfers to them his rights to payments, and then the lessee makes payments for the used object directly to the creditors. In their favor, collateral for a loan is also issued. In such a transaction, the lessor, in addition to the usual income, also receives remuneration for arranging financing, and the creditors bear the main risk in the transaction.

4. By volume of additional services:

"Wet" and "clean" leasing - differ in the amount of additional services that are prescribed in the contract, without which it is impossible to use the leased asset (maintenance, repair, insurance of the leased asset, training of qualified personnel of the lessee, marketing, advertising, etc.).

"Pure" (net) leasing - all additional costs are borne by the lessee and they are not included in leasing payments. With pure leasing, the lessor only transfers the property to the lessee, and all the problems associated with its operation, adjustment, repair, insurance fall on the shoulders of the lessee. This type of leasing is preferable for the lessee from the point of view of lower costs, but from the point of view of service, all the problems that arise will have to be solved by yourself.

« Wet (full) leasing- leasing with a full or complex set of services provided by the lessor during the entire leasing period. This is a form of contractual leasing relationship in which the lessor assumes any contractual obligations involving the maintenance of the leased property, its repair, as well as the training or internship of the personnel of the lessee company, insurance and other aspects of economic activity. When leasing with additional obligations, the lessee company does not need to make its efforts on all legal formalities. All this work will be done by the leasing company.

The main advantage of "wet" leasing in comparison with its other types and conventional forms of economic relations lies precisely in the provision of a wide range of related highly professional services provided to the user by the lessor with the possible participation of the property producer himself.

In contrast to the usual sale and purchase, after-sales service of equipment with full leasing is provided for during the entire term of the leasing agreement.

There is leasing with a partial set of services, which involves a pre-agreed division of functions for the maintenance of property between the parties to the contract. For example, the lessee assumes responsibility for compliance with the established norms for the operation of the property and its current maintenance, and the lessor pays the costs of maintaining the leased property in good condition.

5. According to the type of property, there are: leasing of movable property (equipment, machinery, vehicles), including new and used property, and leasing of real estate (buildings, structures, ships, aircraft).

6. By the nature of lease payments Distinguish: monetary, compensatory and combined leasing. At the same time, cash leasing takes place if all payments are made in cash; compensatory provides for payments in the form of finished products produced on leasing equipment, or the provision of counter services; combined is based on a combination of cash and compensation payments, i.e. payment of obligations by the lessee can be carried out partially in cash and in the form of goods and counter services.

7. Under the terms of the replacement of property leasing is divided into urgent and renewable (revolving).

Term leasing is a one-time lease of property.

With renewable within the framework of one lease agreement, the lessee, after a certain period of time, depending on wear and tear, has the right to exchange the leased asset for another more modern and perfect one. The number of leasing objects and the terms of their use under renewable leasing may not be specified in advance. When replacing equipment with another, all costs are borne by the lessee. The need for this type of leasing arises, for example, when the technology lessee consistently requires different equipment.

A type of renewable lease is general leasing- provision of a leasing line, through which the lessee can take additional equipment without concluding a new contract each time. This is very important for enterprises that carry out a continuous production cycle. General leasing becomes an ideal option for solving problems that may arise with the urgent delivery or replacement of equipment already received under leasing, since, as always, there is no time to study and conclude a new leasing contract.

8. Depending on the timing leasing transactions can be divided into short-term, medium-term and long-term. Since the gradation by terms is not established in the current legislation, we give the scale established in the old law, although you may come across other criteria in various sources. But this fact is not so significant.

long-term leasing - leasing carried out for three or more years;

medium-term leasing - leasing carried out within one and a half to three years;

short-term leasing - leasing carried out for less than one and a half years.

In business, you may come across such a concept as fictitious leasing. A fictitious or feigned transaction is a transaction that is made in order to cover up another transaction. In the leasing example, this can be a cover for a sale and purchase agreement with an installment payment in order to use the tax benefits provided by law for leasing transactions by both the lessor (seller) and the lessee (buyer). If the fictitiousness of the leasing agreement is disclosed, the transaction will be considered void.

From the variety of signs of leasing considered, it becomes obvious how multifaceted and complex leasing relations are, which predetermines the possibility of using leasing, taking into account the characteristics and needs of a particular enterprise, and helps to optimize financial flows and increase the efficiency of the production process.

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