The Mailing Room launch schools operating lease product
In-conjunction with Clear Asset finance, The Mailing Room have launched an operating lease product for schools to enable them to safely access the benefits of using a franking machine to reduce postage costs.
As budgets are tightened, finding the finance to keep up with the demands of the latest technology can be difficult. By using an operating Lease it can provide a means to spread the cost of an investment and can be tailored exactly for school equipment funding.
As quoted by the Finance & Leasing association guidelines (Dec 2011); “An Operating Lease is the only type of lease a school should enter into. These leases involve the school paying a rental fee for the hire of an asset for a period of time, and are similar to a rental agreement. No other types of lease, such as a Finance Lease or hire purchase, may be entered in to by the school as this is a form of borrowing. (Buying Goods and Service section of Department’s website)”
All LEA-maintained schools are expressly forbidden from entering into any form of Finance Lease without approval of the Secretary of State for Education. This constitutes borrowing and is prohibited under section 3.9 of the LA Scheme for Financing Schools (June 2009)
The Mailing Room operating leases for schools enable educational establishments to;
• Preserve working capital
• Keep up to date with technology at the lowest cost
• Reduce the total cost of ownership
Andrew Parmenter, Marketing Manager from The Mailing Room commented; ”Historically many schools have signed the wrong type of leasing agreements on capital equipment, which has left them often exposed to fraudulent activity. Working with Clear Asset Finance, The Mailing Room has developed a schools operating lease product that will allow decision makers to feel confident they are conforming to the correct legislation and gaining the best value for their education establishment.”
To find out more about The Mailing Room’s operating leases for schools, please contact them on 0800 0192 033 or visit www.themailingroom.com