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API Data Dictionary

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This section provides a data dictionary reference to the attributes used in the various Payload structures, as well as a broader data model of the key object types used by the LeaseAccelerator API.

Object Model

The major objects used by the LeaseAccelerator API are as follows:

Detail

Type

Deal

Also called Transaction, this is the highest-level element within the portfolio.

Artifact

Also called Document, this represents an identifiable document or similar artifact within a Deal.  Any physical representation of the Artifact (e.g., a PDF file) is called a Rendering.  An Artifact may include financing Terms, which may include one or more Options exercisable during or at the end of lease term.  The financing Terms may also include a Step payment schedule.

Line Item

Represents one or more leased Assets with the same cost basis, category, description, etc.  Assets have associated Ledger Entry records that provide the asset-level accounting.

Contact

A Contact or Participant is a Company with optional Person and/or Address participating in a Transaction in a certain capacity.  Contacts may emphasize the Company facet (e.g., Lessee), the Person facet (e.g., Asset Owner), or the Address or Location facet (e.g., Ship To), and may be associated with a Transaction at the Artifact or Asset level.

Event

Events are always recorded in the context of a Deal; they may relate to or affect a specific Artifact.

The following diagram illustrates the relationship between the major objects in the LeaseAccelerator API, using crow’s foot ERD notation:

A screen shot of a computerDescription automatically generated with low confidence

Reference Lists

Many common data elements must comply with a configured list of values. The following sections list the accepted values for each such element.

AmendmentRequisition

CreditLine

EMail

InvoiceCredit

PriceQuote

AmendmentRequisition

CreditLine

EMail

InvoiceCredit

PriceQuote

AnnexA

CreditRequest

EOTDocument

JurisdictionRider

ProofOfDisposal

AssetManifest

CreditUsageRequest

EOTNotification

LandlordWaiver

Proposal

Assignment

CustomerFinancials

EquipmentList

LeaseReviewChecklist

PurchaseOrder

Attachment

DealSummary

ExemptionCertificate

LessorDownload

PurchaseRequisition

BillOfSale

DeclarationManifest

ExternalEmail

LvBAnalysis

RFP

CoverSheet

DisposalManifest

 


UCCFiling

 

Document Types (Category of Document)

Artifact Types

Note that additional custom artifact types may have been configured for your account. Please contact Support if you have custom artifact types.

 

BuyoutPO

DisposalManifest

InvoiceCredit

Proposal

AmendmentRequisition

BuyoutQuote

EMail

JurisdictionRider

PurchaseOrder

AnnexA

CBSReference

EOTDocument

LeaseReviewChecklist

PurchaseRequisition

AssetManifest

CofA

EOTNotification

LessorDownload

RFP

AssetRequestForm

CoverSheet

ExemptionCertificate

LvBAnalysis

RenewalQuote

Assignment

CreditLine

ExternalEmail

MLA

RentalInvoice

Attachment

CreditRequest

FAS13Analysis

PAAC

Schedule

BillingInformation

CreditUsageRequest

FinancingPackage

PAR

ScheduleAmendment

BlanketApproval

DealSummary

InboundFAX

PriceQuote

StipLossTable

BuyoutInvoice

DeclarationManifest

Invoice

ProofOfDisposal

 

Product Category List (Asset Types)

The list of valid asset types is below. Note that additional, custom asset types may have been configured for your account. Please contact Support if you have custom asset types.

Agriculture and Forestry

Food Processing

Office Equipment

Recreation

Aircraft and Related

Furniture and Fixtures

Office Equipment (Soft Costs)

Restaurant Fixtures

Automobiles

Furniture and Fixtures (Soft Costs)

Oil and Gas

Retail Fixtures

Broadcast/Audiovisual

Gaming

Other

Semiconductor

Building Improvement/Equipment

Laboratory Equipment

Packaging/Bottling

Servers

Building Improvement/Equipment (Soft Costs)

Machine/Shop Equipment

Point of Sale

Software

Building/HVAC

Manufacturing/Fabricating

Power and Pipeline

Storage

Buses

Marine

Power and Pipeline (Soft Costs)

Telecommunications

Computers/Peripherals

Material Handling

Printing/Publishing

Telephone Systems

Computers/Peripherals (Soft Costs)

Material Handling (Soft Costs)

Rail

Telephone Systems (Soft Costs)

Construction

Medical

Real Estate

Test and Measurement

Containers

Mining

   Billboards

Trailers

Durable Tooling

Mobile Shop Equipment

   Building

Trucks

Electronics

Modular Building

   Data Center

Waste Remediation/
Recycling

Emergency Vehicles

Mold Tools

   Land

 

Energy Systems

Networking

   Stadium Suite

 

Currency List

Valid Currency List
USD BAM BZD DZD GTQ JOD LSL MVR PEN SDD TMM VND
AED BBD CAD EEK GWP JPY LTL MWK PGK SEK TND VUV
AFN BDT CHF EGP GYD KES LVL MXN PHP SGD TOP WST
ALL BGN CLF ERN HKD KGS LYD MYR PKR SHP TPE XAF
AMD BHD CLP ETB HNL KHR MAD MZN PLN SIT TRY XCD
ANG BIF CNY EUR HRK KMF MDL NAD PYG SKK TTD XCG
AON BMD COP FJD HTG KRW MGA NGN QAR SLE TWD XOF
AOA BND CRC FKP HUF KWD MKD NIO RON SOS TZS XPF
ARA BOB CVE GBP IDR KYD MMK NOK RSD SRG UAH YER
ARS BRL CYP GEL ILS KZT MNT NPR RUB STD UGX ZAR
AUD BRR CZK GHS INR LAK MOP NZD RWF SVC UYU ZMW
AWG BSD DJF GIP IQD LBP MRO OMR SAR SZL UZS ZWD
AZM BWP DKK GMD ISK LKR MTL PAB SBD THB VEF ZWG
AZN BYN DOP GNS JMD LRD MUR PEI SCR TJR VES  

Country and Province List

 

Acceptable abbreviations for provinces are listed, if cell is blank, no abbreviation is accepted.

Province/State Abbreviation Country
Australian Capital Territory ACT Australia
New South Wales NSW Australia
Northern Territory NT Australia
Queensland QLD Australia
South Australia SA Australia
Tasmania TAS Australia
Victoria VIC Australia
Western Australia WA Australia
Bonaire BQBO Bonaire, Sint Eustatius and Saba
Sint Eustatius BQSE Bonaire, Sint Eustatius and Saba
Saba BQSA Bonaire, Sint Eustatius and Saba
Acre AC Brazil
Alagoas AL Brazil
Amazonas AM Brazil
Amapá AP Brazil
Bahia BA Brazil
Ceará CE Brazil
Distrito Federal DF Brazil
Espírito Santo ES Brazil
Goiás GO Brazil
Maranhão MA Brazil
Minas Gerais MG Brazil
Mato Grosso do Sul MS Brazil
Mato Grosso MT Brazil
Pará PA Brazil
Paraíba PB Brazil
Pernambuco PE Brazil
Piauí PI Brazil
Paraná PR Brazil
Rio de Janeiro RJ Brazil
Rio Grande do Norte RN Brazil
Rondônia RO Brazil
Roraima RR Brazil
Rio Grande do Sul RS Brazil
Santa Catarina SC Brazil
Sergipe SE Brazil
São Paulo SP Brazil
Tocantins TO Brazil
Alberta AB Canada
British Columbia BC Canada
Manitoba MB Canada
New Brunswick NB Canada
Newfoundland NL Canada
Nova Scotia NS Canada
Northwest Territories NT Canada
Nunavut NU Canada
Ontario ON Canada
Prince Edward Island PE Canada
Quebec QC Canada
Saskatchewan SK Canada
Yukon Territory YT Canada
Anhui CNAH China
Beijing CNBJ China
Chongqing CNCQ China
Fujian CNFJ China
Guangdong CNGD China
Gansu CNGS China
Guangxi Zhuang CNGX China
Guizhou CNGZ China
Hainan CNHA China
Hebei CNHB China
Henan CNHE China
Heilongjiang CNHL China
Hunan CNHN China
Hubei CNHU China
Jiangsu CNJS China
Jiangxi CNJX China
Jilin CNJL China
Liaoning CNLN China
Nei Mongol CNNM China
Ningxia Hui CNNX China
Qinghai CNQH China
Shaanxi CNSA China
Shandong CNSD China
Shanghai CNSH China
Shanxi CNSX China
Sichuan CNSC China
Tianjin CNTJ China
Xinjiang Uygur CNXJ China
Xizang CNXZ China
Yunnan CNYN China
Zhejiang CNZJ China
Andaman and Nicobar Islands AN India
Andhra Pradesh AP India
Arunachal Pradesh AR India
Assam AS India
Bihar BR India
Chandigarh CHD India
Daman and Diu DD India
Delhi DEL India
Dadra and Nagar Haveli DNH India
Goa GOA India
Gujarat GUJ India
Himachal Pradesh HP India
Haryana HR India
Jharkhand JH India
Jammu and Kashmir JK India
Kerala KER India
Karnataka KRN India
Ladakh LA India
Lakshadweep LKP India
Maharashtra MAH India
Meghalaya MEG India
Mizoram MIZ India
Manipur MNP India
Madhya Pradesh MP India
Nagaland NLD India
Odisha OD India
Puducherry PY India
Punjab PU India
Rajasthan RAJ India
Sikkim SKM India
Tamil Nadu TN India
Telangana TS India
Tripura TRP India
Uttarakhand UK India
Uttar Pradesh UP India
West Bengal WB India
Carlow CW Ireland
Cavan CN Ireland
Claire CE Ireland
Cork C Ireland
Donegal DL Ireland
Dublin D Ireland
Galway G Ireland
Kerry KY Ireland
Kildare KE Ireland
Kilkenny KK Ireland
Laoighis LS Ireland
Leitrim LM Ireland
Limerick LK Ireland
Longford LD Ireland
Louth LH Ireland
Mayo MO Ireland
Meath MH Ireland
Monaghan MN Ireland
Offaly OY Ireland
Roscommon RN Ireland
Sligo SO Ireland
Tipperary TA Ireland
Waterford WD Ireland
Westmeath WH Ireland
Wexford WX Ireland
Wicklow WW Ireland
Agrigento AG Italy
Alessandria AL Italy
Ancona AN Italy
Aosta AO Italy
Ascoli Piceno AP Italy
L'Aquila AQ Italy
Arezzo AR Italy
Asti AT Italy
Avellino AV Italy
Bari BA Italy
Barletta-Andria-Trani BT Italy
Belluno BL Italy
Benevento BN Italy
Bergamo BG Italy
Biella BI Italy
Bologna BO Italy
Bolzano-Bozen BZ Italy
Brescia BS Italy
Brindisi BR Italy
Cagliari CA Italy
Caltanissetta CL Italy
Campobasso CB Italy
Caserta CE Italy
Catania CT Italy
Catanzaro CZ Italy
Chieti CH Italy
Como CO Italy
Cosenza CS Italy
Cremona CR Italy
Crotone KR Italy
Cuneo NC Italy
Enna EN Italy
Fermo FM Italy
Ferrara FE Italy
Florence FI Italy
Foggia FG Italy
Forlì-Cesena FO Italy
Frosinone FR Italy
Genoa GE Italy
Gorizia GO Italy
Grosseto GR Italy
Imperia IM Italy
Isernia IS Italy
La Spezia SP Italy
Latina LT Italy
Lecce LE Italy
Lecco LC Italy
Livorno LI Italy
Lodi LO Italy
Lucca LU Italy
Macerata MC Italy
Mantua MN Italy
Massa-Carrara MS Italy
Matera MT Italy
Messina ME Italy
Milan MI Italy
Modena MO Italy
Monza and Brianza MB Italy
Naples NA Italy
Novara NO Italy
Nuoro NU Italy
Oristano OR Italy
Padua PD Italy
Palermo PA Italy
Parma PR Italy
Pavia PV Italy
Perugia PG Italy
Pesaro e Urbino PS Italy
Pescara PE Italy
Piacenza PC Italy
Pisa PI Italy
Pistoia PT Italy
Pordenone PN Italy
Potenza PZ Italy
Prato PO Italy
Ragusa RG Italy
Ravenna RA Italy
Reggio Calabria RC Italy
Reggio Emilia RE Italy
Rieti RI Italy
Rimini RN Italy
Rome RM Italy
Rovigo RO Italy
Salerno SA Italy
Sassari SS Italy
Savona SV Italy
Siena SI Italy
South Sardinia SU Italy
Syracuse SR Italy
Sondrio SO Italy
Taranto TA Italy
Teramo TE Italy
Terni TR Italy
Turin TO Italy
Trapani TP Italy
Trento TN Italy
Treviso TV Italy
Trieste TS Italy
Udine UD Italy
Varese VA Italy
Venice VE Italy
Verbano-Cusio-Ossola VB Italy
Vercelli VC Italy
Verona VR Italy
Vibo Valentia VV Italy
Vicenza VI Italy
Viterbo VT Italy
Aichi JP23 Japan
Akita JP04 Japan
Aomori JP02 Japan
Chiba JP11 Japan
Ehime JP38 Japan
Fukui JP20 Japan
Fukuoka JP40 Japan
Fukushima JP07 Japan
Gifu JP19 Japan
Gumma JP10 Japan
Hiroshima JP34 Japan
Hokkaido JP01 Japan
Hyogo JP26 Japan
Ibaraki JP08 Japan
Ishikawa JP17 Japan
Iwate JP03 Japan
Kagawa JP36 Japan
Kagoshima JP46 Japan
Kanagawa JP14 Japan
Kochi JP39 Japan
Kumamoto JP44 Japan
Kyoto JP25 Japan
Mie JP27 Japan
Miyagi JP05 Japan
Miyazaki JP45 Japan
Nagano JP18 Japan
Nagasaki JP42 Japan
Nara JP28 Japan
Niigata JP15 Japan
Oita JP43 Japan
Okayama JP33 Japan
Okinawa JP47 Japan
Osaka JP29 Japan
Saga JP41 Japan
Saitama JP12 Japan
Shiga JP24 Japan
Shimane JP32 Japan
Shizuoka JP22 Japan
Tochigi JP09 Japan
Tokushima JP37 Japan
Tokyo JP13 Japan
Tottori JP31 Japan
Toyama JP16 Japan
Wakayama JP30 Japan
Yamagata JP06 Japan
Yamaguchi JP35 Japan
Yamanashi JP21 Japan
Aguascalientes AGS Mexico
Baja California BCN Mexico
Baja California Sur BCS Mexico
Campeche CAM Mexico
Chihuahua CHIH Mexico
Chiapas CHIS Mexico
Coahuila COAH Mexico
Colima COL Mexico
Distrito Federal DF Mexico
Durango DGO Mexico
Guerrero GRO Mexico
Guanajuato GTO Mexico
Hidalgo HGO Mexico
Jalisco JAL Mexico
Mexico MEX Mexico
Michoacán MICH Mexico
Morelos MOR Mexico
Nayarit NAY Mexico
Nuevo León NL Mexico
Oaxaca OAX Mexico
Puebla PUE Mexico
Querétaro QRO Mexico
Quintana Roo QROO Mexico
Sinaloa SIN Mexico
San Luis Potosí SLP Mexico
Sonora SON Mexico
Tabasco TAB Mexico
Tamaulipas TAMP Mexico
Tlaxcala TLAX Mexico
Veracruz VER Mexico
Yucatán YUC Mexico
Zacatecas ZAC Mexico
Alabama AL US
Alaska AK US
Arizona AZ US
Arkansas AR US
California CA US
Colorado CO US
Connecticut CT US
Delaware DE US
District of Columbia DC US
Florida FL US
Georgia GA US
Hawaii HI US
Idaho ID US
Illinois IL US
Indiana IN US
Iowa IA US
Kansas KS US
Kentucky KY US
Louisiana LA US
Maine ME US
Maryland MD US
Massachusetts MA US
Michigan MI US
Minnesota MN US
Mississippi MS US
Missouri MO US
Montana MT US
Nebraska NE US
Nevada NV US
New Hampshire NH US
New Jersey NJ US
New Mexico NM US
New York NY US
North Carolina NC US
North Dakota ND US
Ohio OH US
Oklahoma OK US
Oregon OR US
Pennsylvania PA US
Puerto Rico PR US
Rhode Island RI US
South Carolina SC US
South Dakota SD US
Tennessee TN US
Texas TX US
US Virgin Islands VI US
Utah UT US
Vermont VT US

Country List

The list of valid countries is below:

US*

Bouvet Island

Dominican Republic

Guinea-Bissau

Afghanistan

Brazil*

East Timor

Guyana

Aland Island

British Indian Ocean Territory

Ecuador

Haiti

Albania

Brunei

Egypt

Heard Island and McDonald Islands

Algeria

Bulgaria

El Salvador

Honduras

American Samoa

Burkina Faso

Equatorial Guinea

Hong Kong

Andorra

Burundi

Eritrea

Hungary

Angola

Cambodia

Estonia

Iceland

Anguilla

Cameroon

Ethiopia

India*

Antarctica

Canada*

Falkland Islands (Malvinas)

Indonesia

Antigua and Barbuda

Cape Verde

Faroe Islands

Iraq

Argentina*

Cayman Islands

Fiji

Ireland*

Armenia

Central African Republic

Finland

Isle of Man

Aruba

Chad

France*

Israel

Australia*

Chile

French Guiana

Italy*

Austria

China*

French Polynesia

Ivory Coast

Azerbaijan

Christmas Island

French Southern Territories

Jamaica

Bahamas

Cocos (Keeling) Islands

Gabon

Japan*

Bahrain

Colombia

Gambia

Jersey

Bangladesh

Comoros

Georgia

Jordan

Barbados

Congo

Germany*

Kazakhstan

Belarus

Congo, The Democratic Republic of the

Ghana

Kenya

Belgium*

Cook Islands

Gibraltar

Kiribati

Belize

Costa Rica

Greece

Korea, Republic of*

Benin

Croatia

Greenland

Kuwait

Bermuda

Curaçao

Grenada

Kyrgyzstan

Bhutan

Cyprus

Guadeloupe

Laos

Bolivia

Czech Republic*

Guam

Latvia

Bonaire, Sint Eustatius and Saba

Denmark

Guatemala

Lebanon

Bosnia-Herzegovina

Djibouti

Guernsey

 

Botswana

Dominica

Guinea

 

Lesotho

Netherlands Antilles

Saint Helena

Togo

Liberia

Netherlands*

Saint Kitts and Nevis

Tokelau

Libya

New Caledonia

Saint Lucia

Tonga

Liechtenstein

New Zealand*

Saint Pierre and Miquelon

Trinidad and Tobago

Lithuania

Nicaragua

Saint Vincent and the Grenadines

Tunisia

Luxembourg

Niger

Samoa

Turkey*

Macao

Nigeria

San Marino

Turkmenistan

Madagascar

Niue

Sao Tome and Principe

Turks and Caicos Islands

Malawi

Norfolk Islands

Saudi Arabia

Tuvalu

Malaysia

North Macedonia, Republic of

Senegal

Uganda

Maldives

Northern Mariana Islands

Serbia

Ukraine

Mali

Norway*

Seychelles

United Arab Emirates

Malta

Oman

Sierra Leone

United Kingdom*

Marshall Islands

Pakistan

Singapore*

United States Minor Outlying Islands

Martinique

Palau

Slovakia

Uruguay*

Mauritania

Palestinian Territory, Occupied

Slovenia

Uzbekistan

Mauritius

Panama

Solomon Islands

Vanuatu

Mayotte

Papua New Guinea

Somalia

Vatican City

Mexico*

Paraguay

South Africa*

Venezuela

Micronesia, Federated States of

Peru

Spain*

Vietnam

Moldova, Republic of

Philippines*

Sri Lanka

Virgin Islands, British

Monaco

Pitcairn

Suriname

Virgin Islands, U.S.

Mongolia

Poland*

Svalbard and Jan Mayen

Wallis and Futuna

Montenegro

Portugal*

Swaziland

Western Sahara

Montserrat

Puerto Rico*

Sweden*

Yemen

Morocco

Qatar

Switzerland*

Zambia

Mozambique

Reunion

Taiwan, Province of China

Zimbabwe

Myanmar

Romania*

Tajikistan

 

Nambia

Russia*

Tanzania, United Republic of

 

Nauru

Rwanda

Thailand

 

Nepal

 

 

 

* indicates countries that have tax payment calendars configured in LeaseAccelerator.

Expense Types

The list of valid expense types and subtypes is below.

Expense Type

Description

Valid Expense Subtypes

ARO

Expenses incurred at end of term as part of returning the leased assets in satisfactory condition

Cost to Dismantle or Remove (per Agreement)

Equipment – Refurbishment

Real Estate - Return to Original Condition

CAMS

Common Area Maintenance expenses

Artwork

Cafeteria Services

Custodial

Garage/Parking

Landscaping

Other

Security

Telecom Services

IDC

Indirect Costs

Commission

Payment to prior Tenant to terminate early

LateFee

Late Fees

 

LeaseIncentive

Lease Incentives

Paid on behalf of Lessee

Paid to Lessee

Other

Other related expenses

Administration Fee

After Hours Utilities - HVAC

Base Year/Expense Stop

Gross Up

 

Landlord's Insurance

Liability Insurance

Marketing Fund

Other Landlord Services

Property Insurance

R&M Premises

Real Estate Taxes

Receivable

Rental Loss

Utilities-Premises

SecurityDeposit

Security Deposits

 

SpecialDeposit

Special Deposits

 

Sewer

Utility

Water

Variable/Performance

Expenses incurred based on variable utilization or contingent on performance

Capacity Based

Daily Rate

Mileage Based

Per Unit of Production

Index Basis List

Index Name

Commercial Paper – 30 Day

Swap – 7 Year

Commercial Paper – 60 Day

Swap – 10 Year

Commercial Paper – 90 Day

Swap – 30 Year

Commercial Paper – 180 Day

Treasury Constant Maturities – 1 Month

Libor – 1 Month

Treasury Constant Maturities – 3 Month

Libor – 1 Year

Treasury Constant Maturities – 6 Month

Libor – 2 Month

Treasury Constant Maturities – 9 Month

Libor – 3 Month

Treasury Constant Maturities – 1 Year

Libor – 6 Month

Treasury Constant Maturities – 2 Year

Libor – Overnight

Treasury Constant Maturities – 3 Year

Prime

Treasury Constant Maturities – 5 Year

Swap – 1 Year

Treasury Constant Maturities – 7 Year

Swap – 2 Year

Treasury Constant Maturities – 10 Year

Swap – 3 Year

Treasury Constant Maturities – 20 Year

Swap – 4 Year

Banker's Acceptance (30-Day)

Swap – 5 Year

Consumer Price Index

Lease Type - Definitions and Genres

Key:

  • EQ = Equipment

  • RE = Real Estate

The following table defines the Lease Types and the business rules applicable to determining each.

Lease Type

Lease Genre

Value in PIW

Definition

Business Rule to Identify

Finance Lease - $1Out Mandatory Purchase

EQ

FinLse-Put

Lease which requires the Lessee to purchase the assets at the end of the term.

Any of the following:

  • Title to assets automatically transfers to Lessee at the end of term

  • Buyout Price = $1

  • Language similar to “Lessee is required to purchase assets”

Finance Lease – Fixed Purchase Option

EQ

FinLse-FixPO

Lease granting Lessee the option to purchase the assets at a fixed amount.

Any of the following:

  • Option to Buy at a price of $$$

First Amendment Lease

EQ

First Amend

A lease which contains a first amendment clause. Used for Lessees who may opt to purchase equipment early. Typically includes a penalty for non-purchase or requires the Lessee to renew for a fixed number of months.

 

Full Service Lease

RE

Full-Service

A lease where the Base Rent includes a baseline cost for CAMS and Other Rent charges but lease allows landlord to pass through incremental charges or credits to reflect the actual cost of CAMS and Other Rent expenses.

Real Estate Lease where:

  • CAMS charges listed

  • CAMS benchmark cost identified

  • Contains CAMS Billing language

  • Contains CAMS expense Reconciliation language

Leveraged Lease Debt

EQ

Lev-Debt

lease agreement that is partially financed by the Lessor through a third-party financial institution. In a leveraged lease, the lending company holds the title to the leased asset, while the lessor creates the agreement with the Lessee and collects the payment. The payments are then passed on to the lender.

 

Leveraged Lease Equity

EQ

Lev-Equity

   

Loan / Note & Security Agreement

EQ

Loan/NSA

This is not a lease but a financed purchase either as a loan or promissory note.

 

Modified Gross Lease

RE

Gross

A lease where the Base Rent includes all costs including CAMS and Other Rent; however, utilities may be separately identified as a cost where the landlord is allowed to pass through incremental charges or credits to reflect the actual Utility costs.

Real Estate lease where:

  • Base Rent language exists

  • Only Utility Cost Benchmark is identified

  • Excess Utility cost pass through language

  • Utility uses reconciliation language

  • This is the default Lease Type for Real Estate

Municipal Lease Purchase

EQ

Municipal

A municipal or tax-exempt lease agreement allows a political subdivision to use annual revenues to make payments for any type of essential use equipment or facilities. While municipal leases are documented as a lease, they have characteristics similar to a loan. The Lessee owns the equipment at the end of the lease, and the lease can be paid off early. These financing agreements are structured as a lease to accommodate the fiscal funding restrictions of political subdivisions. In most cases, the obligation terminates if the Lessee fails to appropriate funds to make the renewal year's lease payments. Because of this provision, neither the lease nor the lease payments are considered debt (in most states).

 

Other Financial Product

EQ

Other

   

Split-TRAC Lease

EQ

Split-TRAC

A modified TRAC lease where the Lessor assumes part of the estimated residual value risk which may allow the Lessee to classify the transaction as an operating lease.

  • Includes a possible return fee such that the Lessee has limited responsibility for the fee

Synthetic Lease

EQ

Synthetic

A disguised loan. Treated as a loan for tax purposes and an operating lease (off-balance sheet financing) for accounting purposes. Relies on Lessee to exercise FMV purchase option or pay substantial penalty for non-renewal.

 

TRAC Lease

EQ

TRAC

Terminal Rental Adjustment Clause. A Lessee guaranteed residual value for vehicle leases (automobiles – trucks or trailers), the inclusion of which will not in and of itself disqualify the tax lease status of a tax-oriented vehicle lease.

  • Includes a possible return fee that is born solely by the Lessee

Triple-Net Lease

RE

Triple-Net

A lease where the Base Rent Rate excludes the full cost of CAMS and Other Rent expenses on a monthly basis.

Real Estate Lease where:

  • Base Rent Rate excludes the full cost of CAMS and Other Rent expenses on a monthly basis

  • CAMS and Other Rent pass through language

True/Operating Lease (FMV)

EQ

FMV

Lease granting the Lessee the option to purchase the assets at the FMV of the lease equipment at the option date. Option may be at the FMV or at a defined percentage of the FMV.

May include the following:

  • True Lease

  • Contains purchase option

  • Contains language referencing Lessee ability to buyout the asset at a date.

  • This is default lease type for non-Real Estate leases

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