A
Apostile
It is a document approval system that certifies the authenticity of a document for its legal use in another country. It is also known as the confirmation annotation.
Appraisal
Assessment of the value of a certain property by an expert specialized in this kind of property.
Assignment
Assignment means the transfer of rights and receivables. Assignment of receivables refers to the legal transfer of ownership of a property, together with all its rights, to another person. Debts are not subject to assignment.
B
Balloon Payment
It is the payment option where monthly rental amounts are within more convenient limits and the whole debt can be paid off with a lump-sum payment in the last installment.
Book Value
It is calculated by dividing the company's total equity by the paid-in capital.
BRSA
Stands for Banking Regulation and Supervision Agency. DenizLeasing is a leasing company subject to BRSA.
Buyback
It is the commitment given by the third party that the equipment will be purchased before or at the end of the leasing contract.
C
Commodity Price
It is the purchase price of the goods/equipment subject to the leasing agreement.
Credit Facility from Dealer
It is a system launched by DenizLeasing, allowing its customers to buy machinery and equipment through leasing from the dealer up to 350 Thousand TL.
Currency
The currency in which lease payments are made in leasing transactions. The repayment currency is determined by the lessor.
Currency Income Declaration Form
This is received for the contracts with %20 VAT and repayment in foreign currency.
D
Default
It can be defined as the failure of the lessee to fulfill his/her obligation under the laws. In other words, it means that the debtor or one of the creditor parties does not fulfill its debt or liability on time and duly.
Delivery Receipt Report
To provide storage, transportation and/or added value services, the service providing company issues this document during the receipt or delivery of the related commodities from and/or to supplier or the customer, as a proof that they are now under the responsibility of the respective party.
Depreciation
Depreciation is wear and tear of fixed assets. Tangible fixed assets are distributed to the accounting periods in which they are used and written off as expense.
Down Payment
The amount received from the lessee based on mutual agreement upon the entry into force of the payment plan specified in the leasing contract. It is paid as the first lease amount.
E
Equal Installment Payment Plan
It is a type of payment plan in which lease payments are equal throughout the specified term.
Euribor
Euro Interbank Offered Rate (EURIBOR) is the reference interest rate used to determine the interest to be paid within the scope of banking products, including loans and/or foreign trade loans.
External Guarantee
The guarantees that allow businesses in Türkiye to do business abroad and businesses abroad to do business in Türkiye. These guarantees protect the party in whose favor they are issued in case a work or payment is not performed.
F
Financial Leasing
It is a financing tool in which the financial leasing company keeps the ownership of an investment goods and gives the use rights of the goods in question to the Lessee in return for an agreed fee in installments and the ownership is transferred to the Lessee at the end of the contractual period based on the buying option specified under the contract.
FKB
The Association of Financial Leasing, Factoring and Financing Companies is a professional organization with legal personality and the nature of a public institution, established in accordance with the relevant articles of the Financial Leasing, Factoring and Financing Companies Law No. 6361 dated 21.11.2012. It is the umbrella organization of the union of sectors involved in all three production, sales and consumption channels of the Turkish economy.
Floating Interest
The interest rate used in the payment tables changes according to different indices in certain periods.
G
Guarantor
It is the person guaranteeing to pay the debt that the lessee is obliged to pay regardless of whether the debt is owed or not and whether there is enforcement ability or not, independent from the debt subject to leasing.
I
Incentive Certificate
It is a document that contains the characteristics of the investment and provides the opportunity to benefit from the support elements registered on it if the investment is realized in accordance with these characteristics and specified conditions.
Installment
Each of the repayment amounts included in the leasing payment plan, is also called lease.
Installment for Down Payment
As an alternative payment method by DenizLeasing for our companies that have difficulty in creating down payment, it is a system that allows down payment by credit card.
Insurance
The goods/equipment subject to leasing are insured against all kinds of risks by expert teams. Insurance premiums are paid by the lessee.
Insurance Policy
A contract between the insurance company and the insured that specifies the claims that must be legally covered.
Integral Part
It means an indispensable or integral part of a whole. Complementary parts are also subject to leasing.
L
Lease
Each of the repayment amounts included in the leasing payment plan is called lease.
Lease Receivable
It refers to the amount to be collected from the lessee by the leasing company, in the capacity of the lessor, as a result of the leasing contract.
Lessee
The customer, who is a party to the leasing agreement, is referred to as the lessee.
Lessor
The leasing company, which is a party to the leasing contract, is referred to as the lessor.
Letter of credit
Commitment of an issuing bank, with the order of the buyer, to make payment to the seller in return for submission of certain documents in accordance with the conditions set forth under the letter of credit, for a certain amount and with a certain maturity. Our company carries out letter of credit procedures in leasing transactions.
Letter of Guarantee
A letter of guarantee is a document of assurance that banks give to their customers, whether real or legal persons. This document ensures that the work undertaken will be carried out under the specified conditions or that the debt will be paid within the specified time.
Libor
London Interbank Offered Rate (LIBOR) is the reference interest rate used to determine the interest to be paid within the scope of banking products, including loans and/or foreign trade loans.
Loss Payee
Loss payee refers to an absolute right founded on property and that can be claimed against everyone in order to collateralize a claim. This gives right to the creditor to convert into money the commodity on which there is a pledge. This also brings the power to own with priority all the rights and benefits which may arise on the related commodity. In insurances made for leasing transactions, leasing companies are the loss payees.
M
MASAK
Financial Crimes Investigation Board is a financial intelligence unit affiliated with the Ministry of Treasury and Finance. The main duties of MASAK are to prevent laundering of proceeds of crime and financing of terrorism, to conduct research on the issue, to establish necessary measures and to process the collected information and present it to the required authorities. DenizLeasing is an obligor before MASAK.
Mortgage
Mortgage is a type of real estate pledge that secures a receivable that currently exists or is likely to arise in the future.
O
Operational Leasing
It is the least costly and safest way to access one or more equipment. It is the safest and most advantageous way for businesses of all sizes to use a piece of equipment without the cost of buying. Operational leasing is a service package that companies can rent equipment, instead of purchasing, for a long-term, with full range and under favorable conditions.
Ownership
In leasing transactions, ownership belongs to the leasing company as the lessor until the rental payments specified in the contract are completed. At the end of the lease payments, it passes to the lessee upon payment of the symbolic transfer fee. The lessee has the right to use the goods/equipment during the contract period.
P
Payment Against Documents
In simple terms, a payment method in which documents are delivered to the buyer after the price of the goods is collected or the required assurance for collection is obtained.
Payment Against Goods
It is a payment method used in foreign trade, in which the products are loaded by the exporter and after a certain period of time, the cost of the goods is paid by the importer.
Permission from the Mayor’s Office
It is the property acquisition permit of foreign capital companies. It is the acquisition of real estate ownership and limited real rights by companies and affiliates within the scope of the Article 36 of the Land Registry Law No. 2644.
Proforma
It is a type of invoice in the nature of an offer without any financial obligation.
R
Registration
As per the Article 22 of the Financial Leasing, Factoring and Financing Companies Law No. 6361, financial leasing contracts concerning movables which are not registered to a special register shall be registered into a special register kept by the Financial Institutions Association.
S
Sell & Lease Back
The financing method in which the lessee sells their movable/immovable property to the leasing company and then leases it back.
Surety
It refers to the real / legal person who assumes the responsibility of the repayment of the debt in case the lessee who is a party to the leasing contract does not pay their debt.
Suretyship
A suretyship agreement is a kind of contract where a person guarantees to the creditor that they will pay the debt of the debtor which is bound to a contract. In principle, a surety guarantees the debtor's ability to pay or the performance of a debt. In other words, surety is a contract in which a person undertakes to the creditor to ensure the performance of the debt contracted by the debtor.
T
TL Ref
Turkish Lira Overnight Reference Rate (TL Ref) is created in order to meet the need of Turkish Lira short-term reference rate that can be used as underlying or benchmark in financial products, debt instruments and various types of financial contracts.
Transfer Fee
It refers to the symbolic fee received from the lessee for the transfer of the goods/equipment subject to leasing at the end of the leasing contract.
Transfer of Lessee
The lessee cannot transfer the possession of the property subject to financial lease to anyone else. However, in financial leasing transactions that provide financing for consumers to purchase housing or make investments, the lessee may transfer his/her title of lessee and/or his/her rights and/or obligations arising from the contract to someone else, provided that written permission is obtained from the lessor. The change of lessee in the financial leasing agreement as a result of this transfer is registered or annotated within the framework of Article 8 of this Law. In financial leasing transactions within the scope of housing finance, the lessee may transfer the ownership of the property subject to the financial leasing to someone else provided that the lessee informs the lessor. In other types of financial leasing transactions, such transfer is also possible, provided that there is a clause under the contract.
Transfer Process
It is the process of transferring the legal ownership of the goods/equipment subject to leasing to the lessee at the end of the leasing contract.
V
VAT Advantage
With the Decree that came into force with the decision of the Council of Ministers published in the Official Gazette dated 27.12.2011, for the machinery and equipment included in the list of machinery and equipment specified, the VAT rate has started to be applied as 1% for leasing transactions and deliveries within the scope of "financial leasing agreements drawn up after the publication date of the decision". You can check the linki to see the machinery and equipment that are within the scope of this advantage.
