|
Who can lease under this program?
This plan is designed to meet the current needs of schools and can be offered only to individual schools or school systems, whether they are public, private or parochial. The plan may also be offered to booster organizations. All public schools, parochial schools, universities, and music booster organizations are pre-approved.
What can be put on a lease?
Any combination of equipment, vehicles, computers, etc. may be leased.
When does the equipment become the school's property?
After the lease is paid in full, the school may purchase the product on the lease for $1.00.
Who covers the insurance on the instruments?
The school as lessee is required to have insurance for any theft, mysterious disappearance, or damage to any or all items/equipment covered by the lease. Any such loss does not relieve the school of any of the terms or conditions of the contract. Maintenance, including that required during the life of the lease due to normal wear and tear, is the responsibility of the school. Optional insurance may be available through BGE Alliance Group L.L.C. with a $0 deductible and 100% coverage.
Is the lease renewable?
The lease is annually renewable for the length of the term of the lease and is automatically renewed each year when the annual payment is made. The only reason a lease may not be renewed is for non-appropriation.
Do the limited warranty provisions apply to leased instruments?
Product delivered to the school will have a standard limited warranty as provided by the manufacturer. The vendor will be responsible for servicing the product as if it were purchased.
Can the lease be paid off early?
Yes, the school can pay the lease off early and receive a rebate of unearned lease charges.
Is there a minimum lease amount?
Yes, $3,000 is the minimum lease base amount and the maximum term of 10 years may be used.
Who is responsible for the shipping cost?
The vendor will include the shipping cost in the lease payment.
| 
