What are these charges on my invoice?
Here are definitions for charges you may possibly see on your invoice.
This is the regular monthly/quarterly/annual payment amount, according to your contract.
Interim rent is a partial payment that covers the time period between the day we verify you’ve received your equipment and the first payment due date. It’s noted in the first paragraph of your agreement, which reads “We may charge you a partial payment to cover the time period between delivery and the first payment […]See Full Answer
If we receive your payment after the due date on the invoice, you may be assessed a late charge. The amount is calculated as a percentage of the invoice amount past due, less taxes, or may be a flat charge, depending on the terms of the contract you signed. You will receive a one-time waiver […]See Full Answer
One-time Documentation Fee
PEAC Solutions does not charge an application fee. We may charge a fee to compensate us for processing the documents and reimburse us for the fees incurred with filing UCC-1 financing statements. When applicable by law, taxes may be applied to this fee.
Many local jurisdictions assess an annual tax on tangible personal property. The lessor, as owner of the equipment, pays this tax to the appropriate taxing authority. (Our lease rate does not include this tax.) We pass this tax on to you on an annual basis. Again, these taxes change periodically and are not included in […]See Full Answer
Returned Check Fee / NSF Charge
If your payment is returned from your bank for any reason, we may charge you a fee.
In most states and some local jurisdictions, we are required to collect sales/use tax on each monthly lease payment. Since the lease payment was calculated in advance and tax rates can change periodically, this amount is billed separately. In certain states, the full amount of tax is due at the inception of the lease. In […]See Full Answer