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How to apply for a lease? |
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It's easy and straightforward
Our team of experienced Relationship Managers provides a personalized service and is willing to go the extra mile to assist you throughout the leasing process.
They will be delighted to meet you personally to discuss and assess your leasing needs, and will propose tailor-made lease arrangements that meet your requirements.
If you wish to meet one of our Relationship Managers, please contact us on our toll-free phone number 800-1010 and provide us with your full contact details (address, phone number etc.) Your information will be given to our Sales Division and your appointed Relationship Manager will contact you.
Alternatively, you may also complete our application form and send it back to us, together with the documents mentioned in our Checklist.
You may either:-
Call in person at our offices situated at 25 Pope Hennessy Street , Port Louis to collect the application form; or
Contact us on our toll-free phone number 800-1010, or send us an email on the following address mleasing@ml.intnet.mu, and we will provide you with the application form either by post or through email. |
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| Our Promise |
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We shall entertain your request promptly and once your application is approved, team up with you until settlement of your lease, and even afterwards, for our mutual benefit. You may rest assured that we shall endeavour to provide you with our best professional services and unflinching support at all times.
With us, you are sure to be in safe hands!
Before You Sign on the Dotted Line - Know This
Ten Questions to Ask Before Signing a Lease
Knowledge is power. Businesses ask the following 10 questions before signing a lease. These questions take into account the "before, during and after" stages of a lease.
Before
1. How am I planning to use this equipment?
2. Does the leasing representative understand my business and how this transaction helps me to do business?
During
3. What is the total lease payment and are there any other costs that I could incur before the lease ends?
4. What happens if I want to change this lease or end the lease early?
5. How am I responsible if the equipment is damaged or destroyed?
6. What are my obligations for the equipment (such as insurance, taxes and maintenance) during the lease?
7. Can I upgrade the equipment or add equipment under this lease?
After
8. What are my options at the end of the lease?
9. What are the procedures I must follow if I choose to return the equipment?
10. Are there any extra costs at the end of the lease? |
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| What you should know before starting the leasing contract? |
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 Ownership - As regards a Finance lease arrangement, the legal ownership of the leased asset remains with The Mauritius Leasing Company Limited until the end of the lease period, at which time it may be purchased by the Client at the Residual Value, as pre-determined in the contract.
Maintenance - The Client has the duty, to maintain the leased asset in good working condition, fair wear and tear excepted.
Insurance - The Client has, during the lease period, an obligation to keep the leased asset properly and adequately insured under the appropriate insurance cover.
Period of lease - This is determined by the actual useful economic life of the leased asset. Depending on the nature of the leased asset, the period of the lease may vary between one and ten years. Examples: Vehicles are usually leased for a maximum period of seven years, computers for three years and industrial equipment for up to ten years.
Collateral Security - As we retain the legal ownership of the asset during the lease period, we require no collateral security, except in rare instances where we believe that the lease arrangement entered into with the Client carries a major risk for us (e.g. use of our asset under extreme conditions).
Initial rental deposit - The initial rental deposit which we require ranges from 0% to a maximum of 25% of the value of the asset to be leased. |
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It's also a tax-friendly way for the financing of your assets and, for businesses in particular, improves cash flow while allowing valuable working capital to be used to develop the business instead of being spent on buying productive assets.
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Importantly, lease financing preserves a client's ability to borrow from banks and other financial institutions by offering its other assets as collateral. The Lessor, as legal owner of the leased asset does not normally require any security in the form of fixed or floating charges to be inscribed on your other assets, as is the case for banks and other financial institutions.
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At The Mauritius Leasing Company Ltd, we have been providing leasing to Mauritian businesses and private individuals for the past 18 years. During this time, we have leased more than MUR 7.0 billion worth of equipment, plant and machinery and vehicles.
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Owing to our longstanding experience in the industry, we fully understand our clients' needs and can advise them on the type of leasing product, as well as propose tailor-made leasing arrangements, that is best suited to fit their particular financial and tax positions. |
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Current tax legislation makes leasing particularly attractive for corporate bodies, but anyone who needs financing and cash flow support will find leasing a favourable option. |
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For businesses which use lease financing as an alternative to bank borrowing, we take ownership of our "joint venture" and ensure that the leased assets are providing real value to our client. And while we insist on prompt payments of lease rentals, we are always ready to discuss with clients who are facing unexpected or temporary cashflow problems. |
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| MORE Information |
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Documentation checklist |
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Frequently Asked Questions |
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