When is the residual value of the asset established at the end of an operating lease contract?

At the moment of signing the operating lease contract.

What damage should I insure the asset against?

Theft, accident, criminal activity of third persons, natural disasters, fire, water pipe accidents (in case of lease of equipment and immovable property).

Where should I apply in case of an insured event?

In case of an insured event notify the respective institutions immediately (police, fire protection service, etc.), and your insurance company. Should you have any questions or concerns, please apply to our partner, insurance broker UADBB MAI Lietuva.
 

May I pay the lease fees according to a linear method?

Yes, you may. Let us discuss that at our meeting.

Why do I have to insure the asset for the benefit of the lease company?

Within the validity of the lease (financial leasing), the owner of the asset is Luminor Bank AB. The asset is insured in case of an insured event to mitigate the loss of the lessee and the owner of the asset. 

Do I have to pledge the asset acquired on the basis of a lease?

No, you are not required to pledge the asset, as the asset itself is collateral.

May I purchase the asset prior to the expiry of the lease contract?

Yes, you may do that – you only need to fill in an application ‘Request the purchase the asset’ and submit it to us.

Will any charge be levied in case I purchase the asset prior to the expiry of the lease contract?

A possible charge is specified in the General Part of the Lease contract.

How can I pay for the lease service?

You can pay via bank transfer or by ordering an e.invoice.