First Data Global Leasing (FDGL) - World Payment … Payment Services and FDGL...•First Data Global Leasing (FDGL) ... My business lease payments will be automatically deducted from

First Data Global Leasing (FDGL)

First Data Learning Organization

Copyright 2010, First Data Corporation. All Rights Reserved. Developed by: 26 Rev: 02/11/2010/ V: 1.0

Copyright 2010, First Data Corporation. All Rights Reserved.

Product Overview

• Program Features and Enhancements

• Program Benefits

• Process Flow

• Lease Documentation

• Target Market

• Resources, Points of Contact and Customer Service

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First Data Global Leasing

• First Data Merchant Services (FDMS) 1994

• First Data Global Leasing (FDGL) 1999

• Provides leasing solutions for over 100 channels in the U.S., UK, Canada, Puerto Rico and Mexico.

• 250,000+ leases funded to date.

• Two Locations -

- Melville, New York Location:

Portfolio Management, Finance, Sales, Administration

- Coral Springs, Florida Location:

Operations, Credit, Customer Service, and Collections


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Program Features

• Fast application process and credit decisioning capability.

• Collection of monthly lease payments (ACH) and applicable sales and property taxes.

• Dedicated Portfolio Management and customer service support.

• Training and Implementation Programs.

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FD200


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Program Benefits

• Avoidance of large capital investment up front.

• Low monthly payment.

• Tax benefits.

• Preserves bank lines of credit.

• Provides hedge against inflation.

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FD200


Paperwork –Lease Documentation


Global Leasing Process

• Sales Rep has the merchant complete the MPA with embedded lease language or the FDGL stand alone lease document.

• Sales Rep forwards the completed document

to FDGL via a dedicated fax server (фмфπтунπмрор) for the lease to be scored. Lease can

also be emailed to ŀŘƳƛƴϪǿƻǊƭŘǇŀȅƳŜƴǘǎŜǊǾƛŎŜǎ.com.• FDGL initiates the scoring and a document QC

process.

• FDGL Program Manager communicates lease score to Agent, along with any QC issue, via electronic report.

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FD200

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Global Leasing Process, cont’d

• FDGL receives completed equipment verification form from ISO.

• After receipt of delivery confirmation, lease is commenced for next day funding.

• Electronic notification to Sales Rep of funding detail.

• FDGL Welcome Letter sent to merchant.

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FD200

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MPA With Lease Indicator

Embedded lease language Signatures required9


Stand-alone Lease IndicatorSALES REP INFORMATION Required Information:Sales Rep Name and ID, Merchant ID #, RELATIONSHIP CODE.

MERCHANT INFORMATION Required Information:Legal and DBA NameBilling and Business Address Type of Business and Years in BusinessBusiness Phone NumberBank Information including ABA and DDA #’s.

TYPE OF BUSINESS Required Information:Check the box that applies.

DESCRIPTION OF LEASES EQUIPMENTRequired Information for each piece of equipment: Equipment Type and QuantityUnit price (monthly lease payment per unit)Please Note: If there are multiple locations, a separate spreadsheet should accompany the lease which will detail each location’s business information.

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Stand-alone Lease Indicator

SCHEDULE OF PAYMENTSRequired Information:Select applicable lease term (12,24,36 or 48 months) or other where approvedMonthly Lease Charge and Total Monthly Lease Charge (without tax). Both must be the same.Advanced payment option with unit price.

LEASE ACCEPTANCERequired Information:Signature, Title, Name and Date.

PERSONAL GUARANTYRequired Information:Signature (No Title), Name, Home Phone, Date, Home Address, Social Security Number.

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Delivery and Acknowledgement Document

This Section for Internal Use Only

Merchant Number ________________________ Lease Number ________________________

Sales Person: ____________________________

Contact Name: _______________________________________________________________________________

Contact Phone Number __________________________________________________________________________

Merchant Name: _______________________________________________________________________________

Location Of Equipment:

_____________________________________________________________________________________________

Street Address County City State Zip Code

Description of Equipment: *

_____________________________________________________________________________________________

Type Serial No. Delivery Date

_____________________________________________________________________________________________


_____________________________________________________________________________________________


*If required, use additional forms for other equipment information

I HEREBY CERTIFY THAT:

INITIALS REQUIRED

The equipment I have requested to lease has been delivered to my business location

I have I have read and understand the terms and conditions of the Equipment Lease Agreement.

I know this lease is NON-Cancelable.

My business lease payments will be automatically deducted from my designated business checking account

on the same day each month during the term of the equipment lease.

Authorized Signature

X____________________________________________________________________________________________

Lessee’s Signature Title Date

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• End of Lease Term Options:

– Converts to a month to month rental.

– Purchase equipment (lease end purchase options are detailed in section 7 of the Equipment Lease Agreement.)

– Return the equipment.

• The lease is non-cancelable.

• Valid processing agreement required.

• Valid DDA/ABA for a business checking account that accepts ACH debits.

General Terms and Conditions

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Lease Form Fields• Merchant Information: Legal and DBA, Street Address, Type

and Yrs. In Business, Bank ABA/DDA.

• Equipment description: Quantity, Unit Price (per unit).

• Schedule of Payments: Lease Term, Monthly Lease Payment and Total Monthly Charge.

• The lease acceptance: Signature, Title, Printed Name and Date.

• The personal guarantee: Signature, NO TITLE, and Social Security #.

• Voided business check from account that will accept ACH debits must be included with completed lease paperwork.


First Data Global LeasingFrequently Asked Questions


FAQ’s• What is a Lease?

A lease is a financing arrangement where one party, the lessor, owns the equipment, and the other party, the lessee uses the equipment. In exchange for this use, the lessee pays the lessor a monthly fee, or lease payment. Put differently, a lease is a rental agreement with a fixed term.

• Does the merchant ever own the equipment?

The lease company retains ownership during the initial lease term. The merchant has 3 end of lease options:

– Continue making the same monthly payment.

– Purchase the equipment as detailed in Section 7 of the Equipment Lease Agreement.

– Return the equipment.

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FAQ’s, cont’d• Will I be billed for my monthly lease payments?

No. Payments are made via ACH debit.

• Does my lease payment appear on my monthly bankcard processing statement?

No. Lease payments only appear on the business checking account statement being debited for the lease payments under the description “FDGL Lease.

• Is sales tax billed on the leased equipment?

Yes. Sales tax is calculated based on the monthly lease payment and taxing jurisdiction the equipment is located in. In some states, sales tax is collected in advance (based on state sales tax laws).

Hawaii (0.5% in advance + rental stream), Illinois,Chicago (up front + 6% on rental stream), Ohio, New Jersey, Maine

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FAQ’s, cont’d• Can the merchant cancel the lease?

Leases are non-cancelable, however they can be paid off at any time. The merchant can contact the Lease Company and obtain a lease buyout quote.

• If the equipment breaks down, who does the merchant call?

Channel Help Desk and/or Sales Agent.

• If the merchant sells the business, can the new owner take over the lease payments?

Yes. This is an Assignment of Lease and FDGL has procedures to accomplish this.

• Are mid-term lease upgrades available?

Yes. Flexibility is one of the greatest benefits of Leasing.

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FAQ’s, cont’d• Does FDGL ever deploy equipment?

There are no instances where FDGL deploys equipment. This includes upgrades, swaps, additional asset requests, etc.

• Does FDGL accept fax signature leases?

Yes as indicated in Section 18 of the Equipment Lease Agreement Terms and Conditions.

• When does the merchant get notified of the day the payments will be due?

FDGL sends out a “Welcome Letter” upon activation of lease . This letter contains essential lease information including the payment cycle day, payment amount, equipment type, etc.

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FAQ’s, cont’d• What fees can FDGL charge a merchant?

Lease Payment, Taxes, including sales and property, collection charges, including late fees, ACH reject fees and collection costs.

• Can the merchant pay by check?

All payments are setup via ACH processing (except municipal accounts). Check payment is demanded if account is past due or on a payment plan.

• Does FDGL send out notification to the merchant when the lease is activated?

Yes. A welcome letter is printed and mailed out to each lease customer explaining basic terms (pmt, term, DDA#, end of lease options, FDGL toll free contact number).

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FAQ’s, cont’d• Can an Equipment Agreement submitted by a sales rep replace a

completed Lease Agreement?

No. Equipment Agreements are not valid Lease Agreements.

• Should the sales rep or merchant call FDGL if the merchant changes their DDA?

If the merchant leased equipment, any DDA changes need to be reported to FDGL by the merchant. If the sales rep becomes aware of DDA changes, it would be extremely helpful to notify FDGL.

• When does FDGL charge lease payments?

FDGL has one billing cycle. ACH billing takes place on the 1st of each month.

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FAQ’s, cont’d• Does FDGL warranty the equipment?

No. FDGL does not warranty any leased equipment. The warranty is either with the original equipment manufacturer, or with the Sales Channel.

• Are there any POS devises FDGL will not support as a lease?

No. As long as the Sales Channel supports the equipment and it is certified on a platform the Sales Channel uses, FDGL will finance the equipment.

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Questions?


First Data Global Leasing

Thank You!

Documents

First Data Global Leasing (FDGL) - World Payment … Payment Services and FDGL...•First Data Global Leasing (FDGL) ... My business lease payments will be automatically deducted from