Objects and subjects of leasing. The concept of leasing, subjects and objects of leasing, types, technique of operations, legislative basis. Other types of leasing

A lease transaction usually involves several subjects:

- Lessor - an individual or legal entity who, at the expense of attracted or own funds, acquires property in the course of the implementation of a leasing transaction and provides it as an object of lease to the lessee for a specified fee, for a specified period and under certain conditions into temporary possession and use with the transition or without transferring ownership of the leased asset to the lessee.

- Lessee -a natural or legal person who is

in accordance with the lease agreement is obliged to accept the leased asset for a specified fee, for a specified period and under specified conditions for temporary possession and use in accordance with the lease agreement.

Property seller(supplier) - an individual or legal entity who, in accordance with the sale-purchase agreement with the lessor, sells to the lessor within the specified time period the property produced (purchased) by him, which is the subject of lease. The seller (supplier) is obliged to transfer the leased item to the lessor or lessee in accordance with the terms of the purchase and sale agreement.

Bank (or other credit institution), providing funds for the acquisition of the subject of the contract.

On the leasing market, special entities can also be distinguished, such as:

- insurance companiesthat insure all kinds of risks arising from a leasing transaction: insurance of the lessor's property, loans provided to the lessor by a credit institution, against possible risks of non-payment, and much more.

- Russian Association of Leasing Companies ("Rosleasing"),non-profit association of leasing companies, banks and other enterprises engaged in leasing, carrying out:

a) coordination of the activities of the organizations included in it, and the pooling of their funds for the implementation of joint mutually beneficial projects;

b) development, together with government bodies, of strategic directions and programs for the development of leasing in Russia;

c) preparation of draft legislative acts;

d) participation in the work of international associative public organizations.

Any of the leasing entities can be a resident of the Russian Federation, a non-resident of the Russian Federation, as well as a business entity with the participation of a foreign investor, carrying out its activities in accordance with the legislation of the Russian Federation.

The study of the state of financial leasing in developed countries makes it possible to single out main groups of leased equipment:

Transport (transport aircraft, cars, ships, railway cars, etc.)

Communication equipment (radio stations, satellites, postal equipment, etc.)

Agricultural equipment

Construction (cranes, concrete mixers, etc.)

3. Forms, types and types of leasing.

According to Russian legislation, there are 2 main forms of leasing: interior and international.

When carrying out internal leasing, the lessor, lessee and seller (supplier) are residents of the Russian Federation. Domestic leasing is regulated by the legislation of the Russian Federation.

In international leasing, the lessor or lessee is a non-resident of the Russian Federation.

If the lessor is a resident of the Russian Federation, that is, the leased asset is owned by a resident of the Russian Federation, the international lease agreement is governed by the legislation of the Russian Federation.

If the lessor is a non-resident of the Russian Federation, that is, the leased asset is owned by a non-resident of the Russian Federation, then the international lease agreement is governed by federal laws in the field of foreign economic activity.

In addition, the Federal Leasing Law regulates 3 main types of leasing:

long-term leasing - leasing carried out for three or more years;

medium-term leasing - leasing, carried out for one and a half to three years;

short-term leasing - leasing carried out for less than one and a half years.

Currently, in the economic practice of developed countries, various types of leasing are used, each of which is characterized by its own specific features. The most common are:

Operating (service) lease

Financial (capital) leasing (Financial lease)

Lease back (sale and lease back)

Equity lease (with the participation of a third party) (leveraged lease)

Direct lease

Sub-lease

All existing types of such agreements are varieties of two basic forms of leasing - operational or financial. In Russia, the Federal Law "On Leasing" regulates three main types of leasing: operational, financial and returnable (in fact, it is a type of financial leasing). But, nevertheless, I propose to consider the most common types of leasing in more detail.

· operational (service) leasing

Operational (service) lease is an agreement for the current lease. Typically, the term of the agreement is less than the full depreciation period of the leased asset. Thus, the rental payment stipulated in the contract does not cover the full value of the asset, which makes it necessary to lease it several times.

The most important distinguishing feature of operating leasing is the right of the lessee (lessee) to early terminate the contract... Such agreements may also provide for the specification of various installation and routine maintenance services for the rental equipment. Hence the second, often used name of this form of leasing - service. In this case, the cost of the services provided is included in the rent or paid separately.

The main objects of operating leasing are rapidly aging types of equipment (computers, copying and duplicating equipment, various types of office equipment, etc.) and technically complex, requiring constant maintenance (trucks and cars, air airliners, rail and sea transport).

It is easy to see that, in general, the terms of operating leasing are more beneficial for the lessee. In particular, the possibility of early termination of the lease makes it possible to timely get rid of obsolete equipment and replace it with a more high-tech and competitive one. In addition, in the event of unfavorable circumstances, the lessee can quickly terminate this type of activity by early return of the relevant equipment to the owner, and significantly reduce the costs associated with the liquidation or reorganization of production.

In the case of implementation of one-time projects or orders, operational leasing frees you from the need to purchase and subsequent maintenance of equipment that will not be needed in the future.

The use of various services provided by the lessor or the equipment manufacturer can often reduce the cost of ongoing maintenance and maintenance of the relevant personnel.

Disadvantages of operating leasing: higher than with other forms of leasing, rent; requests for advances and prepayments; the presence in contracts of clauses on the payment of penalties in case of early termination of the lease; other conditions designed to reduce and partially compensate the risk of property owners.

· financial (capital) leasing

Financial (capital) leasing a long-term agreement that provides for the full depreciation of the leased equipment at the expense of the fee paid by the lessee.

Since such agreements do not allow the possibility of early termination of the lease, the correct determination of the amount of the periodic payment provides the owner with full reimbursement of the costs incurred for the purchase and maintenance of the equipment, as well as the required rate of return. With this form of leasing, all installation and maintenance costs of the property are usually borne by the tenant. Often such agreements include tenant's right to purchase property after the expiration of the contract n about preferential or residual value (This value can be purely symbolic, for example, $ 1).

Unlike operating financial leasing, the risk of the property owner is significantly reduced. In fact, its terms are in many respects identical to the agreements concluded upon receipt of long-term bank loans, since they provide for the full repayment of the cost of equipment (loan); making a recurring fee, including the cost of the equipment and the owner's income (loan repayment - principal and percentage); the right to declare the tenant bankrupt in the event of his inability to fulfill the agreement, etc.

Financial leasing objects include real estate (land, buildings and structures), as well as long-term means of production.

Financial leasing serves as the basis for the formation of two other forms of long-term lease - returnable and share (involving a third party).

· leaseback

A leaseback is a system of two agreements in which the owner sells the equipment to another party while concluding a long-term lease agreement with the buyer. The buyers here are usually commercial banks, investment, insurance or leasing companies. As a result of such an operation, only the owner of the equipment changes, and its user remains the same, having received additional funds at his disposal. The investor, in fact, credits the former owner, receiving as security the ownership of his property. Such transactions are often carried out during a business downturn in order to stabilize the financial position of enterprises.

· equity lease (with a third party)

Equity leasing is another type of financial lease that involves the participation of a third party investor, which is usually a bank, insurance or investment company. In this case, the leasing company, having previously concluded a contract for a long-term lease of some equipment, acquires its ownership, having paid part of the cost through borrowed funds. The acquired property is used as security for the loan received (as a rule, a mortgage is issued for it) and future lease payments, the corresponding part of which can be paid by the tenant directly to the investor. At the same time, the leasing firm takes advantage of the tax shield arising in the process of equipment depreciation and debt repayment. The main objects of this form of leasing are high-value assets such as mineral deposits, equipment for the extractive industries, etc.

· direct leasing

In direct leasing, the lessee enters into an agreement with the leasing company to purchase the required equipment and then lease it out. Often the lease agreement can be concluded directly with the manufacturer (i.e. directly) The largest manufacturers that provide their products on a lease basis are such well-known companies as IBM, Xerox, GATX, as well as many aviation, shipbuilding and automotive companies. For example, the leaders of the global automotive market - the concerns "Daimler-Chrysler" and BMW are the founders of a number of leading leasing companies through which they distribute their products in many countries of the world.

· subleasing

Sub-leasing is a special type of relationship arising in connection with the assignment of the rights to use the leased asset to a third party, which is formalized by a subleasing agreement.

In case of subleasing, the subleasing person accepts the leased asset from the lessor under the lease agreement and transfers it to the lessee for temporary use under the sublease agreement. According to the Federal Law "On Leasing", the assignment by the lessee to a third party of its obligations to pay lease payments to a third party is not allowed.

When transferring the subject of lease to sublease, the consent of the lessor in writing must be mandatory.

International subleasing, which is a type of international leasing, is also regulated by the Federal Law. A distinctive feature of international subleasing is the movement of the leased asset across the customs border of the Russian Federation only for the duration of the sublease agreement.

In a sublease, the main lessor gets the pre-emptive right to receive the lease payments. The contract usually stipulates that in the event of a third-tier bankruptcy, the rent goes to the main lessor.

It is generally accepted that leasing is an American invention of the 1950s, which was transported a decade later by American entrepreneurs to Europe and then to Japan. However, many experts disagree with this view of the history of leasing and argue that economic relations similar to leasing were known long before our era.

The English terms "leasing", as well as "leasor" and "lesee" (parties to the leasing agreement) do not have an adequate translation in Russian. Many European scholars recognize the difficulty of translating the term "leasing" into other languages. The root "liz" in translation from Greek means dissolution, and from English - to rent, lease. Therefore, in view of the fact that the term "leasing" has already become quite firmly in use and is used both in domestic and foreign literature, it is probably inappropriate to translate it at all.

The main idea of \u200b\u200bleasing is that in order to make a profit, it is not at all necessary to own the means of production, it is enough just to have the right to use them and generate income. Therefore, leasing allows entrepreneurs, at the time of business formation, to start production activities without having significant primary capital.

In theory and in practice, leasing is characterized by the following definitions:

1) method of lending to entrepreneurial activity;
2) one of the forms of long-term lease;
3) the method of buying and selling means of production or the right to use someone else's property;
4) investment activities.

On the one hand, leasing in its content corresponds to credit relations (issuing a loan for the purchase of production assets). The lessor provides the lessee with financial services by acquiring property from the manufacturer (seller) for the full cost of ownership, and the lessee reimburses this cost to the lessor in periodic payments, which, by analogy with the loan, include the lessor's expenses for the acquisition and maintenance of the property (the amount of the loan) and interest on him. You can also compare the leasing relationship with the provision by the lessor to the lessee of a commercial loan under an agreement of purchase and sale with payment by installments for the property being leased in the form of lease payments. On the other hand, leasing is closely related to the lease mechanism. And in the Civil Code of the Russian Federation, leasing is treated as a financial lease, and the leasing agreement itself is treated as a special subspecies of a long-term lease agreement.

In reality, the totality of all these definitions most fully reflects the economic essence of leasing. The combination of the properties of a credit transaction, investment and rental activities at the same time forms a new organizational and legal form of business - leasing.

This form implements a complex of property relations associated with the transfer of means of production for temporary use through their purchase and subsequent leasing.

Thus, leasing is a complex three-way transaction in which the financing leasing company (lessor) acquires movable or immovable property from the manufacturer and transfers it to the disposal of the company - the lessee - the lessee.

The relationship between the parties to a leasing transaction can be characterized as follows:

A future lessee in need of certain types of property selects a supplier and, due to the lack of sufficient funds to acquire the property, appeals to the future lessor with a request to participate in the transaction. The contract may also stipulate that the choice of the supplier and the acquired property is made by the lessor.

The lessor purchases this property at the expense of its own or borrowed funds and, while retaining the ownership of the subject of the leasing transaction, transfers it under the lease agreement to the lessee.

The lessee receives the acquired property for use and, during the lease term, pays the lease payments in the manner, time, form and on the terms stipulated in the lease agreement.

There are lease deals that do not fall under the somewhat "narrow" Russian definition of leasing, but are considered as such in many countries of the world.

For example, under Russian law, a leasing transaction is not considered a transaction with property that cannot be used for business purposes, although in other countries these transactions may be considered leasing. Thus, the concept of leasing has many interpretations, which also depend on the history of the development of leasing relations and the legislation of each individual country. We will consider the specifics of Russian legislation in relation to leasing below.

Subjects and objects of leasing

One of the essential conditions for a leasing transaction is the definition of the subject (object) of leasing.

According to Russian legislation, leasing objects can be any non-consumable things, including enterprises and other property complexes, buildings, structures, equipment, vehicles and other movable and immovable property that can be used for entrepreneurial activity.

At the same time, land plots and other natural objects, as well as property that are prohibited for free circulation by federal laws or for which a special circulation procedure has been established, cannot be leased objects.

The subjects (participants) of classical leasing are three main parties: the lessor, the lessee and the manufacturer (seller) of the leased item.

A lessor is an individual or legal entity who, at the expense of his own and (or) borrowed funds, acquires property under a lease agreement and provides it as a subject of lease for temporary possession and use to the lessee for a specified fee, for a specified period and on certain conditions. The agreement may provide that the leased asset becomes the property of the lessee upon the expiration of the lease agreement or before its expiration on the terms stipulated by the agreement of the parties.

However, the law may establish cases of prohibition of the transfer of ownership of the leased asset to the lessee.

Lessee - an individual or legal entity who, in accordance with the lease agreement, accepts the leased asset for a specified fee, for a specified period and under specified conditions for temporary possession and use in accordance with the lease agreement.

Seller - a natural or legal person who, under a sale and purchase agreement with a lessor, sells to him within a specified period of time the property being leased. At the same time, the lessor, in accordance with Article 667 of the Civil Code of the Russian Federation, must notify the seller that the property is intended to be leased to a certain person. The seller is obliged to transfer the leased item to the lessor or lessee in accordance with the terms of the purchase and sale agreement.

In addition, the seller can simultaneously act as a lessee or a lessee within the same leasing relationship. In this case, two persons will participate in the transaction.

Usually leasing services are provided by specialized leasing companies with sufficient funds to invest in leased items. In Russian practice, as a rule, leasing companies are created on the basis of large banks, on a sectoral basis or with the participation of state bodies.

Leasing objects.

The object of a leasing transaction can be any kind of material assets, if it is not destroyed in the production cycle. According to the Federal Law "On Leasing" (Art. 3) "the subject of leasing can be any non-consumable things," including "movable and immovable property that can be used for entrepreneurial activity." At the same time, “land plots and other natural objects, as well as property that are prohibited for free circulation by federal laws or for which a special procedure for circulation has been established, cannot be leased”.

By the nature of the leased object, the leasing of movable and immovable property is distinguished.

Leasing objects can be:

real estate - enterprises and other property complexes, buildings and structures for industrial, commercial, communal, domestic purposes, including administrative buildings, garages, warehouses, as well as other property classified as immovable by law;

movable property - vehicles, construction equipment, communication facilities, computers, machine tools, mechanisms, devices, office equipment, office furniture ...

Foreign practice shows that the object of leasing can be intellectual property rights (licenses, computer programs, know-how, etc.).

The subjects of the leasing transaction are the parties directly related to the object of the transaction. Moreover, they can be divided into direct participants and indirect ones.

Direct participants in the leasing transaction include:

a) leasing firms or companies (lessors or lessors).

The lessor (the owner of the leased asset) is an individual or legal entity who, at the expense of attracted or own funds, acquires property in the course of the leasing transaction and provides it as a leased asset to the lessee for a specified fee, for a specified period and under certain conditions on a temporary basis. possession and use with or without the transfer to the lessee of ownership of the leased asset.

The lessor can be:

· Bank, financial company, any credit institution, the charter of which provides for this type of activity;

· Leasing company, universal or specialized in a particular subject or type of leasing;

· Any manufacturing or trading company for which leasing is not the main activity, but is not prohibited by the charter.

b) manufacturing (industrial or agricultural), trade and transport enterprises and the population (lessees or tenants).

Lessee – “An individual or legal entity who, in accordance with the lease agreement, is obliged to accept the leased asset for a certain fee, for a specified period and under certain conditions, for temporary possession and use in accordance with the lease agreement.

c) suppliers of the objects of the transaction - manufacturing (industrial) and trading companies.

Supplier (seller) - an individual or legal entity who, in accordance with the sale and purchase agreement with the lessor, sells to the lessor within the specified period the property produced (purchased) by him, which is the subject of lease. The supplier (seller) is obliged to transfer the leased item to the lessor or lessee in accordance with the terms of the purchase and sale agreement.

Indirect participants in the leasing transaction are:

a) commercial and investment banks that provide loans to the lessor and act as guarantors of transactions. In addition, banks often act as founders of specialized leasing firms, which, using the broad credit support of the banks that established them, can perform more diverse and sophisticated leasing operations;

b) insurance companies that insure the leased object;

c) brokerage and other intermediary firms engaged, on behalf of the lessor, in the search on the market for a supplier (seller) of property needed by the lessee. A customs broker can deal with customs clearance and payment of customs duties, tariffs, duties related to the leased asset;

d) service departments providing services for the maintenance of equipment that is the subject of lease.

All firms that carry out lease relations are called leasing, regardless of the type of lease (short-term, medium-term or long-term). By the nature of their activities, they are divided into highly specialized and universal.

Highly specialized companies usually deal with one type of goods (cars, containers) or with goods of one group of standard types (construction equipment, equipment for textile enterprises). Usually these firms have their own fleet of machines or stock of equipment and provide them to the consumer (tenant) at the first request of the client. Leasing companies usually carry out maintenance themselves and ensure that it is kept in good operating condition.

Universal leasing companies lease a wide variety of machinery and equipment. They provide the tenant with the right to choose the supplier of the equipment he needs, place an order and accept the object of the transaction. Maintenance and repair of the leased item is carried out either by the supplier or by the lessee himself. The lessor, therefore, actually performs the function of an institution organizing the financing of the transaction.

In today's economic conditions, an untimely modernization of production can quickly lead an enterprise to bankruptcy. To prevent this from happening, you should skillfully use the available financial instruments. As a rule, bank loans are used for such purposes, however, there is also a more efficient way to purchase new equipment or machinery - this is leasing.

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Concept

Before we move on to considering the issue of the object of leasing, let's look at what the concept of "leasing" means and what regulatory documents regulate such relations in Russia. So, at present, the source of civil law regulation of leasing are two main documents - the Civil Code of the Russian Federation and Federal Law No. 164-FZ "On Leasing" (hereinafter referred to as the Law).

In accordance with the Civil Code of the Russian Federation, leasing is a transaction as a result of which the lessor (lessee) undertakes to purchase from a certain seller (supplier) the property chosen by the lessee (lessee) and transfer the acquired property to him for commercial use, on the terms of payment for his services.

The law supplements this definition of the term "leasing" by introducing an additional qualifying feature - the right to purchase property by the user of the property (lessee).

In simple terms, in essence, leasing is a long-term lease of property with the possibility of its subsequent purchase, which provides for a number of tax preferences for the lessee.

Kinds

Clause 3 of Article 7 of the Law divides three types of leasing:

Leasing type	Features:	The essence of the deal
Financial	Provides for the purchase of property by the tenant at the end of the contract. The term of the contract is comparable to the useful life of the property. As a rule, at the end of the contract, the value of the property approaches zero, and can become the property of the tenant without additional payment.	Obtaining targeted funding
Operational (operational)	At the end of the contract, the property is usually returned to the tenant. In contrast to financial leasing, it has a significantly shorter useful life of the property. Usually, the object of the lease is the property that is the property of the person who leases the property (i.e., the seller in this transaction may be absent in principle). In comparison with financial leasing, obtaining property in operational lease is more expensive.	Rent type
Returnable	The property is purchased from the client and leased to him, i.e. the seller of the property and the lessee are one person	A special form of lending secured by the company's fixed assets with the possibility of obtaining tax preferences from the use of leasing

The most popular types of leasing today are financial leasing, which provides for the purchase of vehicles, equipment and special machinery, which is largely facilitated by various government support programs.

Leasing objects

The property that is transferred to the management and operation of the lessee is called the object (subject) of lease. In accordance with the Civil Code of the Russian Federation and the Law, the object of a leasing transaction can be any property that is not completely destroyed and can be used for its intended purpose for a long period.

Thus, the following property can be leased:

buildings, structures, incl. property complexes and even enterprises;
equipment, machinery, vehicles, etc .;
any other movable or immovable property, the leasing of which is permitted by the legislation of the Russian Federation.

Within the framework of the current legislation, leasing objects cannot be:

plots of land and natural objects;
property, the leasing of which is prohibited at the legislative level, or for which a special procedure for handling is established;
property that loses its original consumer properties (raw materials, materials, etc.) during operation;
intangible assets (software, inventions, etc.).

Video: Accounting for leasing transactions

Legal relationship

An important aspect of legal relations under a lease agreement is the transfer of the procedure and conditions for the transfer of ownership of the leased object, the procedure and conditions for its redemption by lessees, registration with state bodies, as well as the balance sheet of such property.

So let's take a closer look at these conditions:

Leasing agreement terms	Description	What is regulated
Property rights	The object of lease is the property of the person who leases the property. The transfer of ownership of property can occur at the end of the contract or earlier, by decision of the parties.	art. 11, 19 Law
State registration of the acquired property	It is possible to register property, both to the lessee and to the person who leases the property, however, in most cases, the property is still registered to the lessee The lessor can transfer the right to register in the name of the person leasing the property to the lessee, which is reflected in the documents for the property by entering information about the owner and user. Upon termination of the contract / seizure of property, the data about the user by government agencies are canceled.	Art. 20 of the Law
Accounting for property and amortization accrued on it	Carried out by the person on the balance sheet of which the leasing object is listed. The party on whose balance sheet the leased property is recorded must be indicated in the lease agreement.	Order of the Ministry of Finance of the Russian Federation No. 15 of February 17, 1997
Seizure of property	If the terms of the agreement are not met, the lessor has the right to seize the property. In this case, the costs of transportation and dismantling of the property are borne by the lessee. The property cannot be foreclosed on the obligations of the lessee, including those cases when the property is registered in his name	Article 13.23 of the Law
Property insurance	Property insurance against loss, shortage or damage from the moment of purchase and until the end of the lease agreement is carried out by the lessee, unless otherwise specified in the agreement. An exception is compulsory insurance of the lessee's civil liability provided for by law (for example, the acquisition of OSAGO, if the object of leasing is a car)	Article 21 of the Law
Maintenance and safety of property	It is the responsibility of the lessee and is made at his expense, unless otherwise specified in the lease agreement. Improvements made to the property may be the property of the lessee if they are separable from the property and unless otherwise specified in the lease agreement. The issue of compensation to the lessee for the improvements made, if they are inseparable from the property, is regulated by the contract, the written consent of the person leasing the property to such changes and the current legislation of the Russian Federation. Loss (destruction) of property through the fault of the lessee is not a ground for termination of obligations under the lease agreement	Article 12.26 of the Law

Balance sheet accounting

As we said above, the Law allows property to be recorded both on the balance sheet of the lessee and on the balance sheet of the lessor's person, which raises the question of which of the methods is most beneficial for the lessee from a financial point of view.

Having analyzed the current legislation, it should be noted that the accounting of property on this or another balance sheet does not fundamentally affect the receipt of tax, with the exception of the following cases:

if the person has tax benefits, the opportunity not to pay or significantly reduce the cost of tax on property on the balance sheet;
to increase assets or book value, when it is necessary for the person on whose balance sheet property is recorded (not related to economic feasibility);
the economic effect of the transaction also decreases when registering for leasing real estate, because on the balance sheet of the enterprise, it is accounted not for the cost of its acquisition, but for the amount of the entire lease agreement, excluding VAT, as a result of which all transaction costs (interest, commissions, conversions, etc.) fall under taxation.

It should be noted that the accounting and display of property in accounting on the lessee's balance sheet is somewhat more complicated, since in this case, there are no standard wiring diagrams.

The use of leasing today is one of the most effective ways of financing production, allowing enterprises to gain access to the most modern and expensive equipment.

As an alternative to bank loans, leasing can play an important role in re-equipping the fixed assets of Russian manufacturers, thus increasing their competitiveness.

Given the importance of such changes for the state, it is necessary on its part not only to introduce various programs of state support (which is already happening today), but also to popularize this type of financing among entrepreneurs, as the main consumers of such services, incl. due to various explanations of the benefits they receive when using this tool.

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The emergence of leasing is associated with the entry into the market of special firms that perform functions that are largely similar to those of banks, i.e. in the form of fixed assets provide the consumer with the missing capital, carrying out for him the purchase of the necessary property with a relatively long service life, and sometimes some types of real estate by acquiring them into their ownership as a result of the act of purchase and sale and subsequent lease on a long-term lease. A firm specializing in such a business is usually called leasing company.

The emergence of leasing firms has led to a qualitative change in the classic lease relationship - to the separation of functions in relation to property and their significant complication. By exchanging money for goods (property), the firm performs the functions of a buyer, and then, as the owner of the property, leases it for temporary use, becoming a lessor.

At least three subjects are involved in economic relations in leasing:

1. property supplier (original owner of the property),entering into a sale-purchase relationship with a leasing company and thus acting as a seller of his property (property) - the subject of leasing;
2. lessor (leasing company),acquiring property, acting as a buyer, becomes the owner of this property, and then gives it away for a fee for temporary use for a specified period, concluding an appropriate agreement with the lessee;
3. lessee,acquiring the opportunity for a certain period to use the leased asset for entrepreneurial activity (to produce products or provide services using the leased asset), and therefore to have income.

Financial leasing firms, as a rule, do not limit their activities to any specific product range. These firms can also provide loans, conduct transactions with securities, etc.

Firms, along with the provision of services directly for leasing, in a complex can also provide certain types of additional services, for example, various services for the maintenance of machinery and equipment, design services, taking responsibility for paying taxes, consulting on the use of machinery and equipment, etc.

additional subjects of leasing

Gradually, along with a quantitative increase in leasing firms, an increase in competition, and a change in the conjuncture of the leasing market, there is a further complication of relations between leasing entities.

Subjects with new functions and economic interests appear on the leasing services market, among which should be highlighted:

1. brokerage leasing companies,whose services are very diverse. Initially, the functions of these companies were limited to bringing together a potential consumer (future lessee), a manufacturer and the leasing company itself, i.e. the brokerage firm participated in the lease as an intermediary, facilitating the transaction between the lessor and the lessee. However, a brokerage leasing company often acts as an agent for both the property manufacturer and the potential lessee, choosing the necessary equipment and optimal contract terms for him;
2. direct manufacturing firms.Industrial companies producing equipment began to actively use leasing as a way to promote their goods to markets. To lease the property they produce, these enterprises either use their sales units or create specialized branches dealing only with leasing;
3. trading intermediary firms(dealers, agents, distributors). Leasing services are sometimes offered by firms that are not officially leasing companies and that lease as an additional activity. As a rule, such firms carry out leasing operations along with the sale of machinery and equipment;
4. investment, insurance companies, etc.,including state ones that have funds for investment, provide services provided for by their charters. Insurance companies usually provide insurance coverage for the leased asset and related risks associated with the use of the leased asset;
5. financial organizations.In modern conditions, the financial support of leasing companies becomes more complicated due to the growing competition and changing conditions. Forms of leasing activities appear, in which the lessor himself is forced to use borrowed funds to purchase equipment that is subsequently leased out. As a source of funds can be used borrowed funds provided by various credit institutions, including banks. In this case, credit relations arise between the lessor and the financing organization, which determine the success of the leasing company in the market. This is due to the fact that the leasing company must not only acquire fixed assets (leased property), but also finance its day-to-day working capital, and often other transactions on financial assets;
6. group of shareholders.To carry out large-scale transactions, the lessor, as a rule, uses the services of various financial organizations, to take into account the interests of which there is a practice of creating various special funds, acting as a single donor of funds. Such an organization becomes one of the subjects of leasing, since its functions are reduced to providing the lessor with financial resources for the purchase of equipment intended for leasing.

Thus, the subjects of leasing relationships can be:

Property provider
Sh lessor
Lessee
Funding institution
Insurance organizations, etc.

features of the relationship between leasing entities

The use of the terms "lessor" and "lessee" is legalized by the enactment of the Federal Law "On financial lease (leasing)". In Art. 4 "Subjects of leasing" it is noted that the subjects of leasing are:

Sh lessor - an individual or legal entity who, at the expense of borrowed or own funds, acquires property in the course of the implementation of the lease agreement and provides it as an object of lease to the lessee for a specified fee, for a specified period and under certain conditions into temporary possession and use with the transition without the transfer to the lessee of ownership of the leased asset;
Sh lessee - an individual or legal entity who, in accordance with the lease agreement, is obliged to accept the leased asset for a specified fee, for a specified period and under certain conditions for temporary possession and use in accordance with the lease agreement;
Sh seller- an individual or legal entity who, in accordance with the sale and purchase agreement with the lessor, sells to the lessor within the specified period the property that is the subject of lease. The seller is obliged to transfer the leased asset to the lessor or lessee in accordance with the terms of the purchase and sale agreement. The seller can simultaneously act as a lessee within the same leasing legal relationship.

The law also defines the main provisions on the leasing company. In accordance with Art. 5 Federal Law "On financial lease (leasing)" leasing companies (firms) - these are commercial organizations (residents of the Russian Federation or non-residents of the Russian Federation) performing the functions of lessors in accordance with the legislation of the Russian Federation and with their constituent documents.

Founders of leasing companies there can be individuals and legal entities (residents and non-residents of the Russian Federation).

This law provides for the possibility of leasing activities on the territory of the Russian Federation by a leasing company - a non-resident of the Russian Federation - a foreign legal entity.

Leasing companies have the right to attract funds from legal entities and (or) individuals (residents of the Russian Federation and non-residents of the Russian Federation) to carry out leasing activities in accordance with the procedure established by the legislation of the Russian Federation.

All relationships that arise can be grouped into two groups:

1. the first group includes economic relationships associated with the purchase and sale of property;
2. the second group includes economic relations arising in connection with the temporary use of property for a fee.

It is believed that it is the second group of relationships that is decisive and forms the basis of leasing.

When selecting candidates - potential lessees, the leasing firm usually gives preference to large, stable operating enterprises with a good reputation. However, due to competition in the developed market for leasing services, clients of leasing firms are often small and medium-sized firms.

The acquisition of property carried out by a leasing company, as a rule, has certain advantages, since in domestic and foreign practice, successfully operating leasing companies usually have the closest contacts with equipment manufacturers.

When preparing a contract, the terms of the contract take into account the specifics of a particular transaction, depend on its type and content.

Despite all the variety of leasing relationships, the ownership of the property - the subject of lease during the lease agreement remains with the lessor.

Features of the relationship arising after the signing of the lease agreement and in the process of its implementation is that there is a special distribution of responsibility between the subjects of leasing. For example, in the event of a defect in the property, the lessee sends his claims directly to the supplier, with whom he does not have any direct contracts.