Lease financing program on renewal of machine and tractor park within the framework of support of domestic producers of agricultural machinery
Since 2018, "DBK-Leasing" JSC has been the operator of the Lease Financing Program for the renewal of the machinery and tractor fleet as part of the support of domestic agricultural machinery manufacturers. The purpose of the Programme is to support the development of domestic agricultural machinery production and renewal of the critically worn out machine and tractor fleet of the Republic of Kazakhstan by providing leasing financing from "DBK-Leasing" JSC, a subsidiary of "Development Bank of Kazakhstan" JSC.
|Grace period for payment of principal and interest||is established by the decision of the Authorized Body of the Lessor|
|Frequency of interest repayment||at least 1 (once) per quarter (by decision of the Authorized Body of the Lessor)|
|frequency of repayment of the principal amount||at least once a year (by the decision of the Authorized Body of the Lessor), the first repayment of the principal debt shall be made after the leased asset is transferred into temporary possession and use under the financial leasing agreement|
|Fees||are not charged, except for commissions, fees and / or other payments levied due to violation by the Lessee of the leasing terms|
|Insurance of the leased item under the CASCO program||at the expense of the Lessee|
|Sublease of leased items for subleasing||forbidden|
|Maximum term of manufacture and delivery of the leased asset||9 months from the date of signing the contract of sale. In case of a bilateral sale and purchase agreement, the term of delivery shall be agreed upon in accordance with its terms and conditions and the additional agreement to the sale and purchase agreement concluded with the Lessee|
|Additional expenses (service and agency services)||the amount of additional service and agency maintenance costs shall be determined independently by the Manufacturer and the Lessee by entering into agency and service contracts. At the same time, the amount of agency services charged annually by the Manufacturer to the Lessee shall not exceed 1% (one percent) of the balance of the value of the leased asset not paid by the Lessor to the Lessor|
How do I get a lease?
To get funding, you need to
List of required documents
Primary selection of potential lessees is carried out by the Vendor.
The minimum cost of leasing objects has to be following:
- within the "Business Road Map 2020" state program — 80 million tenge (for light industry - 50 million tenge);
- по within the "Nurly Zhol 2015-2019" program: Support of domestic automakers — no minimum amount;
- within on leasing financing of national automakers (tractors and combines) — no minimum amount;
- another projects — 500 million tenge;
the minimum cost of leasing financing for national buses companies is — 100 million tenge.
The interest rates on financial leasing are as follows:
- for the state program "Business Roadmap - 2020" — 5% per annum;
- for "Nurly Zhol 2015-2019": Support for the domestic car manufacturers — 3% per annum;
- for leasing financing of special equipment of domestic production — 3% per annum;
- for leasing financing of domestically produced buses - 7% per annum;
- for leasing financing of tractors and combines of domestic production - 7% per annum;
- for other projects - the rate is determined individually.
In accordance with the Law of the Republic of Kazakhstan dated July 5, 2000 No. 78-II “On Financial Leasing”, the minimum lease term is 37 months from the date of transfer of the leasing objects to temporary possession and use to the Lessee.
The maximum term is depending on the results of the project expertise (including the business plan for the project) and is not more than 20 years.
It should be noted that according to the following programs the term of leasing is provided following:
- within “National automakers Support” program- from 3 to 5 years;
- within on leasing financing of national buses - from 3 to 5 years;
- within on leasing financing of national tractors and combines from 3 to 7 years.
According to internal procedures of DBK-Leasing JSC, project expertise is conducted in 2 stages:
A lessee can be a legal entity that accepts a leased asset for business purposes with a leasing agreement.
The Lessee can act within the following programes:
- National automakers support — any legal entities and individuals;
- leasing financing of national buses — any legal entities and individuals, applying the generally established procedure for taxation;
- leasing financing of national tractors and combines — any legal entities, farmers and farm enterprises.
“DBK-Leasing” JSC is prohibited to finance projects in the following sectors:
- weapons production;
- alcohol production;
- production of drugs, narcotic drugs and psychotropic substances;
- tobacco products manufacture.