What is Leasing According to the Experts ? - Navigasi Berita a -->
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What is Leasing According to the Experts ?

Navigasi - Leasing comes from the English word lease which means to rent. The term leasing was originally known in the United States in 1877. Leasing activities were first introduced in Indonesia in 1974. (Martono, 2002: 113)

What is Leasing According to the Experts?
What is Leasing According to the Experts?

In line with that, according to IAI (2009) states that the term leasing comes from the word lease which means rent or more generally defined as lease. Lease is an agreement in which the lessor gives the lessee the right to use an asset for an agreed period of time. In return, the lessee makes a payment or series of payments to the lessor.

The definition of leasing according to the laws and regulations in force in Indonesia is defined by the term "lease", this can be found in the Minister of Finance Decree No. 1169/KMK.01/1991 concerning leasing activities which state that leasing is a financing activity in the form of providing capital goods (eg cars or factory machines) for a certain period based on periodic payments.

In general, leasing means equipment funding, namely financing of equipment/capital goods to be used in the production process of a company either directly or indirectly. Leasing also means company financing in the form of providing capital goods with periodic payments by the company using the capital goods, and can purchase or extend the period based on the residual value. (Naim, 1990: 152)

Meanwhile, according to Komar Andasasmita (Susilo, 2001: 221), that leasing is related to agreements which in entering into a contract are based on a certain relationship between the length of a contract and the length of use (economical) of the goods which are the object of the contract and it is agreed that the other party (the lessor) without relinquishing his property rights according to the law is obliged to hand over the right to enjoy the goods to another party (lessee) while the lessee is obliged to pay adequate compensation to enjoy the goods without the aim of owning it (juridichie eigendom).

From the above definition, it can be concluded that leasing is a contract or agreement between the lessor and the lessee, the objects of the lease are capital goods, and the lessee has option rights at a price based on the residual value and in accordance with the agreement that has been agreed upon by mutual agreement.

Parties Involved In Leasing

In leasing activities, there are four parties involved, the details and explanations are as follows:

  1. Lessor, is a leasing company that finances the desire of its customers to obtain capital goods.
  2. Lessee, which is a customer who submits a leasing application to the lessor to obtain the desired capital goods.
  3. Suppliers, namely traders who provide goods that will be leased according to the agreement between the leasor and the lease. In this case the supplier can also act as a lessor.
  4. Insurance, is a company that will bear the risk of the agreement between the lessor and the lessee (Kasmir, 2002:243).

Leasing Application Procedure

Every application submitted by the lessee must be directly submitted to the lessor, either orally or in writing, then by the lessor it will be studied carefully so that in the end it will not harm the lessor due to an analysis error.

The procedure for applying for leasing facilities by the lessee to the lessor is generally as follows:

The lessee submits an application to obtain capital goods facilities, either orally or in writing.

The lessor will examine the intent and purpose of the lessee's request for research regarding the completeness of the required documents. If there are still documents or missing information, the applicant is asked to complete it as completely as possible. The completeness of the document includes the following:

Submit a written application to the leasing party, which contains, among other things, the intent and purpose of applying for a lease and the method of payment.

Deed of establishment of the company if the lessee is in the form of a Limited Liability Company (PT) or foundation. ID card and family card if the lessee is an individual.

Financial statements (balance sheet and income statement) for the last 3 years if the lessee is a PT. Salary slip and other proof of income if the lessee is an individual, Taxpayer Identification Number for both individuals and companies.

complete, then the lessor provides information about the terms in the contract agreement between the lessee and the lessor, including their respective rights and obligations.

The lessor will conduct research and analysis of the information and data provided by the lessee by:

research data to measure the lessee's ability and willingness to pay back. This research can be carried out with 5 C's, namely: character, capacity, capital, condition and collateral. Researching directly to the location of the lessee is located (on the spot) and examining the location where the lessee has a relationship.

The study was conducted to measure the customer's ability to pay and willingness to pay accompanied by the correctness of information and data in the field. From the results of the study, three conclusions can be drawn, namely:

  • (a) Reject the lessee's application for certain reasons,
  • (b) Still considered with the note being postponed or the application cannot be processed until a certain period of time for various reasons.
  • (c) Accept the lessee's request because it is in accordance with the lessor's wishes.

If the lessee's application has been received by the lessor, the lessor will hold a meeting with the lessee, regarding the conditions that must be met, including signing the agreement and the costs to be paid by the lessee.

The lessee pays a number of obligations and signs a letter of agreement between the lessee and the lessor. The lessor makes an order to the supplier in accordance with the goods desired by the lessee and pays according to the agreement with the supplier.

The lessor also contacts and pays the insurance premium that the lessee has previously deposited to the lessor. The supplier sends the goods according to the letter of order and the letter proof of payment that has been made by the lessor.

The lessor also sends an insurance policy to the lessee after it has been issued by the lessor on behalf of the lessee. In practice, each application for leasing facilities by the lessee, the procedures and requirements set by the leasing company are different from one another. this is in accordance with the interests of the leasing company itself and in general the procedures and requirements are not much different as described above.