There are times when you have a copier lease, where there could be changes that are needed, or amendments added for various reasons. This one is not touching on the idea of cancelling a copier contract early. This has to do with other situations where a copier lease may need some adjustment to the contract.
Reason #1 – An accessory needs to be added after the fact
For example, let’s say you are 4 months into a 60 month lease and realize that stapler would have actually been smart to have. If you want that added, there is a slight adjustment on the lease rate to accomodate for the 4 months, so they can end “co-terminously”
What is a co-terminous lease?
Having a lease that is co-termous means that each part of the lease or each item on the lease will end at the same time. In this case to assure the copier finisher would not need to be sent back 4 months after the copier was required to be returned.
Reason #2 – The Company has changed names
As part of companies being sold, there are times where the original company is responsible to take care of all of their lease obligations. In cases like this, there are times where that original owner may try and sub-lease their copier to another company.
What is a sub-lease for a copier?
Sub-leasing a copier basically means taking over the payments, benefits, and duties of an original lease on behalf of the original leasee. So if they were paying $209 per month and had 24 months left, now you would pay $209 a month for 24 months and be done with the lease. This is normally done by the original leasee giving some sort of financial compensation to the sub-leasing agent so that the burden of the lease is lifted and there is an incentive to take on the contract for the sub leasor. The one exception can be when there is a shorter amount of time left and another company needs a short term rental, then the transaction is more of a win/win for both parties.
Reason #3 – Incomplete Documentation / Wrong Items
Mistakes can be a good third reason to need new paperwork. Let’s say you were going to get a 25 page per minute color copier, but because of inventory issues, the copier dealer offers a 30 page per minute at the same price, but all your documents say 25 pages per minute. In this instance, the leasing company will require a new document to correct the mistaken information that lists an asset you don’t actually have.
If you have any questions about copier leasing or need help, please let us know, we are here for you!
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