A contractual agreement between your business and grenke.
It explains what equipment you're leasing, how your payments work, your responsibilities during the agreement and what happens when your agreement comes to an end.
| What sort of agreement do you have?
Regulated Hire Agreement
Non-Regulated Hire Agreement
Typically used by
Sole traders, partnerships and other non-corporate organisations
Limited companies
How it works
Spread the cost of your equipment through fixed payments over an agreed term
Spread the cost of your equipment through fixed payments over an agreed term
Agreement terms
Includes additional legal protections required by regulation
Standard business Hire Agreement for incorporated businesses
Payment options
Monthly or quarterly payments
Monthly or quarterly payments
Equipment
Finance business equipment from approved suppliers
Your options are explained before your agreement ends
End of agreement
Your options are explained before your agreement ends
Your options are explained before your agreement ends
Service and maintenance included
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| The leasing journey
From start to finish, the key documents and actions.
| What's included in my agreement?
The important information in your agreement outlined.
Prefer to watch?
Sometimes it's easier to watch than read. Browse our short videos where our team explain the most common questions about your leasing journey.
| Important terms explained
Jargon is for those in the industry. We are aiming to make our Agreement jargon simpler. For now, let us explain what we mean.
The hirer is the business or individual named on the Hire Agreement. As the hirer, you are responsible for looking after the equipment and making the agreed payments. You can use the equipment throughout the agreement, but you do not own it.
The Primary Period is the agreed length of time that you will hire the equipment from grenke. Your agreement will show how long the Primary Period lasts and how many monthly or quarterly payments you are due to make. The available term will depend on the equipment and the agreement arranged with your supplier.
Rent payments are the regular payments you make to use the equipment during your Hire Agreement. Your agreement will confirm whether your payments are monthly or quarterly, the amount due and the total number of payments.
Your payments will normally begin after the equipment has been delivered, checked and accepted by you.
A daily rent may apply if your agreement begins part way through a month or quarter. It covers the period between the Delivery Date and the start of your first full monthly or quarterly payment period. Each daily rent is calculated as one-thirtieth of a monthly rental. Any daily rents due will be included with your first payment.
A VAT Schedule gives you advance notice of the VAT payments due under your agreement. It shows the payment dates and amounts for the coming year. You can use it to help manage your records and prepare for upcoming Direct Debit collections.
A Delivery Certificate confirms that you have received the equipment, checked it and are satisfied that it is complete and working correctly. Only sign the Delivery Certificate after you have inspected the equipment. Once it is signed, grenke can pay your supplier and your Hire Agreement will begin.
Your supplier is the business that provided the equipment you chose. They are normally responsible for delivery, installation, repairs, maintenance and any equipment-related support included with your order. If the equipment is faulty, incomplete or not working correctly, your supplier should usually be your first point of contact.
A reseller is another name for your supplier.
They sell or provide the equipment, introduce you to the leasing option and help arrange the agreement with grenke. They may also be responsible for delivery, installation, maintenance and equipment support.
A settlement figure is the amount required to settle your Hire Agreement before its scheduled end date. It may also be called a Termination Sum. If you request one, grenke will confirm the amount due, how long the quotation is valid and what you need to do next.
Paying a settlement figure does not automatically mean you own the equipment. The equipment may still need to be returned.
Secondary rentals may apply if your agreement continues after the Primary Period. If you do not give the required notice to end the agreement and return the equipment, your payments may continue at the monthly or quarterly frequency set out in your agreement.
Check your Hire Agreement for the notice period and conditions that apply.
Termination means bringing your Hire Agreement to an end. You may ask to end the agreement early, or grenke may terminate it if the terms of the agreement are broken, for example if payments are not made. If termination applies, we will explain the reason, any amount due, what happens next and whether the equipment must be returned.
| Understanding your payments
A visual on the payment structure of your lease.
| Your Delivery Certificate
Your Delivery Certificate confirms that your equipment has been delivered, is complete and is working as expected. By signing it, you're confirming you're happy to begin your Hire Agreement and authorising grenke to pay your supplier.
Please ensure you:
✔ Carefully inspect your equipment to make sure everything you've ordered has arrived and is in good working order.
✔ If anything is missing, damaged or not working correctly, contact your supplier.
Ready to sign?
Before you sign your agreement, check you've read the key information in our Customer Checklist. It only takes a minute and can help avoid mishaps in your leasing journey.
Fees and costs
No surprises here.
Before you go
Here are a few pointers to more help and support.
