You could be forgiven for thinking Leasing Companies and even Leasing Brokers would be alert to fraudulent activity on agreements before they pay out the supplier for goods which may or may not exist.
You might also assume that given their vast knowledge of and experience in, dealing with the equipment and suppliers, they might question the validity of a document which has so clearly been ‘adjusted.’
Not so the case with a Staffordshire based Lease Broker or the Leasing arm of a German Financial Services Company it seems, for while all of the other boxes, payment, term, customer name, address etc had all been ticked and noted as correct by each company, neither of them apparently suspected or questioned whether this document could have been tampered with.
But then once they countersign the agreement, you must pay all of the rentals and you must also have the equipment to return to them at the end of the period, so they are safe whatever happens.
Not so for you the hirer, it was a document like the above which cost one businessman over £40,000. 00 and almost cost him his home.
You must ensure you do actually have all of the equipment which the leasing document suggests has been installed and any services have been delivered. Never sign a delivery or satisfaction note for the lease company without being certain you have the goods in situ.
Once a fully executed copy of the lease is returned to you by the leasing company, do not just file it without double checking the document matches the copy you took when you signed it and nothing has been added or amended, if there are items which have or the document has been amended in any way, immediately notify the LEASING COMPANY you are rejecting the agreement, do not leave it.
If the leasing company will not assist you, contact us for assistance and advice.
To save yourself being scammed:
You must keep in mind that this is a very creative and totally unregulated industry, therefor, you must be sure you take time to read and fully understand all the terms of an agreement before you sign it. If you do not have time or the inclination to do so, then send the agreement to us to review before you sign and for a nominal fee, we will tell you any pitfalls it holds.
Unsure about the contract you already have? whoever your supplier is, send a readable copy of the agreement to: firstname.lastname@example.org we will look at it for free and tell you if it is fair to you.
To see more in the series of unfair agreement terms or for a copy of the ’13 Scurrilous Scams’ visit www.faircontracts.co.uk