Юридические документы о лизинге.
Проект документов о лизинге учрежден 01-10-1999 ; редакция от 01-11-2001.
Международная лизинговая энциклопедия.
The International Leasing Encyclopedia by Steven Gilyeart.
Энциклопедии не было в интернет последние полтора года, но это не означает, что ее нет вообще. я взял на себя смелость разместить на этом сайте всю подборку статей (собственно энциклопедию), с указанием адресов электронных почт авторов материалов и редактора. Материал на английском языке.
Leasing, Gambling and Sunshine--the EAEL & UAEL Joint Convention in Las Vegas Held 25-27 April 1999 By Steven Gilyeart, Editor, The International Leasing Resource
28 April 1999. Las Vegas--the adult Disneyland outside. Leasing--the financial world's most creative tool inside. Which is the biggest draw? Las Vegas' attractions make it the biggest convention city in the world, but once you get your attendees there, you may have to remind them why they really came. Yet for over 371 members and others who came together in the desert sunshine at the second joint conference of the Eastern Association of Equipment Lessors (EALA) and the United Association of Equipment Leasing (UAEL) to share their problems, their views, their opinions and their forecasts for leasing both now and into the near future, it was leasing by day and Las Vegas by night. Selecting from a smorgasbord of topic offerings organized by job roles (executive, operations and marketing tracks), participants generally eschewed the gaming tables and swimming pool during the conference events to attend the presentations. "We had the people sitting through the programs," noted UAEL Executive Director, Ray Williams, Phd. The reason: "We had the hot topics," explained Alison Feinstein, Executive Director of EAEL. Indeed, from actual event attendance, it was clear that people wanted to talk about the items on the program. Every session was interactive and full of questions, comments and exchanges. So what was on people's minds? People First and Foremost: People--how to find them, hire them, motivate them, and keep them. One of the best attended break-out programs was "Hiring Salespeople Who Sell." Also well attended related programs were "The Winning Edge: Compensation/Revenue/Benchmarking" and "Managing and Developing Your Salesforce." In the first general session, Robert Rodi of Lease Now, who had just moved his company from Cherry Hill, NY, where there are many lease companies, to Warrendale PA, stated that one of his considerations was that "every time we tried to hire someone, one of the other lease companies would hire them." Competition for good, qualified people is fierce. To find them, you have to interview them. In the Hiring Salespeople discussion, presenter Dave Allison, CSP set forth 14 effective interview questions, with the two most important being "Describe the best boss you ever worked for" and "Describe the worse boss you ever worked for." Depending on how the answers fit you as the potential new boss, you may or may not have a candidate. Once you hire them, you have to keep them. As succinctly summarized in The Winning Edge discussion, "To retain good people, develop a good compensation strategy, communicate it, follow through, measure it, and continually evaluate it." Paula Warren of GTE Leasing added, "Make sure they are participating in the long term benefits." Funding and Credit Standards The competitive pressures are having other effects as well. The recent entry of new funding sources was stated as one of the primary reasons for a decline in credit standards in the discussion in "The Biggest Gamble--Credit Standards." However, another explanation given was the greater use of credit scoring technology, whose statistical basis allowed for finer tuning of the approval/disapproval decision point as a result of increased experience with the scoring model. Both reasons are valid. Yet, even with such a decline in standards, delinquencies and losses have not increased. This may change. As noted by at least audience member, this current flood of new funding sources during our current boom economy in the US will turn to a drought when the economy enters a down turn and these new lenders start experiencing losses. This is a cycle that has been seen a number of times in the four decade history of modern financial leasing. "Increasing volumes covers lots of sins," observed one participant. While nothing can be done by any particular lessor, one audience member counseled, "I'm looking for a funding source who is reliable, who will not come and go." It is a focus on the reliability of a relationship. Transaction Origination The future of funding was not the only part of the equation examined. The role of the broker or "third party originator" was too. "Small lessors and brokers will prosper" and will "represent distribution to major funding sources," stated Barry Burdick of Advanta Capital Funding Group. "New funding sources will recognize third-party networks value," commented Robert Rodi of Lease Now. "The focus [will be] increasingly on relationships and managing relationships." Yet, there were also discussions on how to "add value" to a broker-based business and grow beyond a pure origination enterprise, such as in the sessions on "Small Office Development" and "A Safe Bet--Keeping, Managing & Realizing the Broker Retained Residual." Of course, most brokers retain certain selected transactions and most lessors broker some which do not fit their portfolio requirements. Hardly anyone is a purest. Also, almost everyone wants to grow their business in a workable and appropriate way beyond what they are currently doing. Technology Ostensibly, there were a number of sessions devoted to technology issues and the impact of the internet and e-commerce on the leasing industry, including such programs as: "Internet Marketing," "Potential Lessor Liability-Y2K," and discussions of digital signatures and the enforceability of digital contracts in various legal presentations. Yet, the audience indications were that the industry remains relatively slow to embrace the use of the internet as a means to directly do business. "It is still easier to go to the fax machine," stated one broker/lessor. Nevertheless, there are pioneers and it is clear that the e-commerce age is coming. A number of aggressive and innovative lessors discussed their favorable experience with taking lease applications online, sometimes directly integrating the online application process with an automated credit scoring system. Yet, the paperless office remains in the further future, if indeed it will ever completely arrive. Still, everyone I talked too had e-,mail (even if it wasn't listed on their business card!) and even those who did not have web-sites stated that they "were in the process of planning one." "E-commerce is the way business will be done," flatly declared John Kruse of System 1. Legal, Tax and Accounting What was conspicuous by its absence at the conference was the usual heavy focus on tax, accounting and legal issues. --Law Certainly, the legal luncheon programs, offering three separate discussions, were well attended, with the greatest interest expressed in "Current Legal Issues"--the unsurprising choice for an industry regularly influenced by the way the legal winds blow. Yet, even the "current issues" were just the usual mix of confused decisions of a judiciary that still does not understand the economic, business and practical realities of financial transactions and the need to balance those with the only-human tendency to be kind to "consumers" in trouble. Other legal presentations included "Collection Issues by States," "Preventive Litigation," and "You May Have to Pay the Piper--Is Licensing in Our Future?" The licensing workshop raised the possibility that the broker-funding source relationship may soon look like the agency relationship found in the insurance industry. Of course, the real issue is the ever-constant one of accountability and responsibility. --Tax and Accounting Interestingly, there was no dedicated session on either tax or accounting issues. But this may be just the calm before the storm. In the first general session, entitled "A Look Into the Not-So-Distant Future: Leasing in the Year 2005," Ira Romoff of the European American Bank flatly stated that "before 2005 there will be no off-balance sheet accounting for true leases. True leases of more than a year are going to be on the balance sheet." It would be an understatement to say that such a change in the accounting rules would have a significant impact on the leasing industry. Yet, the industry has survived such major challenges before, such as the recission of the Investment Tax Credit in the 1980s. Leasing would cope again. We are indeed an adaptable industry. The Central Lesson from this "Spring Educational Conference" And maybe that is the central lesson to be gained from this Spring Educational Conference of UAEL and EAEL, as the convention was officially titled. We are indeed an adaptable industry. Adapting to increased competition, adapting to the challenges of finding good people, adapting to lower credit standards, adapting to the implications of e-commerce. There are always new issues facing the leasing industry. Yet, you do not hear people really complaining. We are not an industry of whiners. We are an industry of problem solvers. Maybe that is why very few people who become involved with leasing ever leave the industry. They may change companies and job titles, even job functions, but they don't leave leasing. Maybe the challenge is the reason. As one broker/lessor told me: "I am not interested in the easy stuff. I love the difficult credits. I love to find a way to get the deal done." With this attitude pervasive throughout the leasing industry, we will always have a prosperous future--no matter what the future may bring. *********** Credit Where Credit Is Due Beyond the Staffs of EAEL and UAEL: The well-designed and prepared conference was co-chaired by W.R. Johnnie Johnson, CLP of Lease Solutions, Inc. and Troy Molitor of The Manifest Group. Conference Sponsors included: First Sierra Financial, Inc.; GE Capital/Colonial Pacific, MetroLease, Inc. Newcourt Financial USA Inc., LeaseTeam, Inc., System 1, The CIT Group, Financial Pacific Leasing, ORIX Credit Alliance, Coston & Lichtman, Douglas Guardian Services Corp.; European American Bank, Friedman Billings Ramsey, Premier Funding Group, Textron Financial Corporation, Fisher-Anderson, LC, QuikTrak, Inc., The Manifest Group, Quail Capital Corporation, UniCapital Corporation, A.C. Financial Corporation, Morritt, Hock & Hamroff, LLP, Sierra Credit Corporation, Sterling Bank Leasing, and Susan Laufer Personnel.
Posted 28 April 1999