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There are two types of leases as classified by the Financial Accounting Standards Board (FASB): the CAPITAL LEASE, and the OPERATING LEASE. A capital lease is any lease with a bargain purchase agreement that transfers ownership to the business owner at the end of the lease. An operating lease grants the business owner temporary use of the equipment, with no transfer of ownership at the end.
A capital lease is a rental contract in which your business receives all benefits and drawbacks of owning the equipment. A capital lease is more common than an operating lease and is best suited for acquiring expensive pieces of equipment that you intend to keep as a long-term asset.
An operating lease is a rental contract in which your business does not receive the benefits of ownership. An operating lease is typically used when financing equipment with a short shelf-life, or equipment that you plan to replace frequently or at the end of the lease.
Service Level Agreements are also available from Alsitype Pharma Technologies to ensure optimum efficiency and maintenance of the equipment over this time period