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01

How will I know that a business lease contract is coming to an end?

1.5 month before contract end date, you will receive a set of documents regarding the termination of the business lease contract: covering letter, declaration, addendum to extend the business lease contract for the next 12 months (if a contract qualifies for extension) and appendices to terminate insurance (for objects registered, insured by Millennium Leasing Sp. z o.o.).

02

When does the business lease contract end?

The contract expires on the last day of the month where the payment of the last periodic instalment is due.

03

When should the purchase amount be paid?

The purchase amount should be paid with the last periodic instalment.

04

I received lease contract termination documents. How do I fill them in?

Please refer to the instruction below:

  • on the declaration mark the relevant contract termination option with [X]
  • for object purchase, select the first option: “I request to acquire (purchase) the object of lease...” and select the way to return the securities cancelled
  • for extending the contract for the next 12 months, select the second option: “I waive my right to acquire the object of lease...” and have the addendum signed in two counterparts by the company’s authorised representatives
  • if you opt for third party purchase, select the third option: “I (we) hereby indicate a third party”, providing details of the object on the dotted line. A sale to a third party may be for a market value as provided in an expert valuation.

Send the documents, filled-in and signed by authorised company representatives, to Millennium Leasing Sp. z o.o. registered address by the 10th day of the month preceding the payment of the last periodical instalment.

05

Can I, after the contract of lease has been terminated or come to an end, keep the insurance concluded by Millennium Leasing?

Unfortunately, it’s impossible to keep the insurance concluded by us.
Upon business lease contract termination, you are responsible for having the object of lease insured.
That’s why we have prepared, with insurance broker Nord Partner, a dedicated insurance programme with very attractive rates.

For more information, contact Nord Partner Representative Office at: 22 507 80 55, 22 507 80 6822 507 80 61, 22 507 80 63.

06

I have not been given an option to extend the contract. What can I do if I wish to extend it?

Standardowemu The following contracts are not subject to a standard extension for the next 12 months:

  • contracts with guarantee fund
  • financial lease contracts
  • rental contracts
  • contracts for computer hardware and office equipment
  • contracts subject to debt collection and terminated in the last 12 months
  • contracts whose residual value after the last instalment is up to PLN 3000.00
  • contracts with a term of more than 72 months.

If you would like to extend a business lease contract and you have not been offered to do so, please send a written request to extend the business lease contract, to be examined by the Company’s Management Board.

07

On the declaration I received the purchase amount is provided in a foreign currency. At what exchange rate will it be converted?

For contracts declared within the deadline, the value of purchase will be converted at Millennium Bank’s selling exchange rate for foreign currencies (for leasing transactions) which was applied to converting the last periodic instalment. The PLN amount of purchase will be provided, for information purposes only, on the invoice for the last periodic instalment. For contracts not declared or declared past the deadline, the value of purchase will be converted at Millennium Bank’s selling exchange rate for foreign currencies (for leasing transactions) as of the transfer date.

To determine the applicable exchange rate, contact the person in charge of contract termination (the person’s full name and phone number are provided in the covering letter).

08

Is it possible to spread out the purchase amount in instalments?

Relevant provisions provide for no option to spread out the purchase amount in instalments but they give an option to extend the contract for the next 12 months. A client receives an offer to extend the contract (addendum) specifying the amount of monthly instalments within the extension period and the purchase amount after that period.

09

I have not met my obligations to Millennium Leasing. What will happen to my business lease contract?

If you declare, within the deadline, to purchase the object and you fail to meet all contractual obligations, the contract will be extended for another month on the terms set out in the business lease contract.

 

10

When will I receive the invoice for buying the object?

The sales invoice will be issued upon meeting all obligations under periodic instalments, interest on all active contracts of business lease and upon payment of the purchase deposit for a contract to end in a given month.

We encourage you to read the frequently asked questions. If they are not helpful, please contact our department:

Before calling us, please prepare the number of at least one contract signed with Millennium Leasing to speed up the handling of the problem reported.

Contact us