A Master Lease Agreement is a bulk limit finance lease facility that allows the lessee to periodically draw down on an agreed facility limit for the use of multiple vehicles and/or pieces of equipment across a period of time.

In line with a finance lease there is a separation of ownership and use of the leased assets. A Master Lease Agreement provides the lessee the right, for a stated period of time, to use the scheduled property owned by the lesser, in return for a series of lease rentals. However, the lessee does not obtain ownership or equity in the property they are leasing and the lessee is responsible for maintenance of the assets and all operating costs.

Benefits of a Master Lease:

• One Agreement covers multiple items

• No need to get finance approved every time you require additional vehicles or equipment

• Parties to a Master Lease only need to sign once.

• Provides flexibility for the lessee