What Are The Financial Process – Basic Steps?

The Basic Steps of the Financial Process are:

• Obtain quote for equipment from qualified vendor
• Credit process (submission of credit application and financial information)
• Legal contract specific to transaction issued
• Lessee executes contract and returns to Sparta with any additional items required
• Sparta obtains vendor invoices and MSOs (where applicable), and verifies insurance coverage
• At equipment delivery, lessee ‘accepts’ equipment and authorizes Sparta to pay vendor on their behalf
• Lessee makes payments directly to Sparta or its assigns in accordance with payment schedule through contract maturity

Related FAQs

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