Glossary of Terms

Origination Fee
Glossary of Terms

PEAC Solutions does not charge an application fee. We may charge a fee to compensate us for processing the documents…

One-time Documentation Fee
Glossary of Terms, What are these charges on my invoice?

PEAC Solutions does not charge an application fee. We may charge a fee to compensate us for processing the documents…

Late Charge
Glossary of Terms, What are these charges on my invoice?

If we receive your payment after the due date on the invoice, you may be assessed a late charge. The…

Installment Payment Agreement
Glossary of Terms

An installment payment agreement is a loan for the full invoice amount, used for the finance of software. The vendor…

Interim Rent
Glossary of Terms, What are these charges on my invoice?

Interim rent is a partial payment that covers the time period between the day we verify you’ve received your equipment…

Insurance Fee
Glossary of Terms

Your lease contract may require you to have insurance that protects the equipment against all risks of loss. There are two…

Fair Market Value Lease
Glossary of Terms

A Fair Market Value Lease is an equipment lease that offers the option to purchase the equipment end-of-term, at its…

Equipment Lease
Glossary of Terms

An equipment lease is an agreement in which PEAC Solutions purchases the equipment and the customer retains and uses the…

Equipment Finance Agreement
Glossary of Terms

An equipment finance agreement is a loan for the full invoice amount. You own the equipment and you grant Peac…

Delivery and Acceptance
Glossary of Terms

Some vendors require partial or full payment prior to the delivery of the equipment, which PEAC Solutions may accommodate at…

Contract Payment
Glossary of Terms, What are these charges on my invoice?

This is the regular monthly/quarterly/annual payment amount, according to your contract.

Advanced Rental Fee
Glossary of Terms

Depending on credit and other factors, some customers are required to pay an upfront advanced rental fee in order to…

Administration Fee
Glossary of Terms

This fee covers Peac Solutions’ cost of filing property tax renditions, corresponding with the taxing authorities and processing the property…