Contract Structuring

As a vehicle and fleet leasing software, LeaseWave accommodates a wide variety of lease structures/types including all those that are standard to the automotive-industry. The system automatically carries out the appropriate accounting relevant to the structure selected. Any operational and logistical implications of the selection are also fully supported. For instance,a closed-end lease may have more restrictions and conditions that need to be tracked around the return of a unit than an open-ended lease. Likewise, a float rate lease is dependent on rate-feeds (whether manual or automatic) of the index to which it may be associated. And a step-deal has an income amortization schedule that needs to reflect varying amortization rates for each step involved. In short, LeaseWave’s design can handle any type of lease-structure with a high degree of flexibility.

LeaseWave’s contract structuring capabilities are supplemented by its abilities as fleet software: each lease contract can be structured to include relevant fleet management services (such as maintenance, fuel, violations, titling and registration, card administration, etc.). These services can bill per individual, user-stipulated frequencies; it is also possible for them to follow the rental frequency of the underlying lease. Multiple options are also available for presentation on customer invoices. Not only does this provide centralized control and management for a single on-road vehicle, but it also allows for a comprehensive, 360-degree view of customer contracts.