A copier lease is a binding contract or agreement between the leasing company (lessor) and the client (lessee). It means it is a legal contract with terms and conditions signed by the parties involved. What if, along the way, you found out that laser printers are better than the copier you chose for the lease? Can you cancel your copier lease? Is it possible? How are you going to do it? What are the crucial steps that you must take?
Those are just a few of many questions you might think about when faced with the same dilemma. Always seek possible resolutions to such predicament. Read more and discover the steps on how to cancel your copier lease.
Six Best Tips to Cancel a Copier Lease
1) Look for the cancellation clause in your copier lease.
“Cancellation clause” is always present in any lease contract. Look for it and review all the conditions provided in the said clause.
2) Pay the total lease amount.
It’s better to settle your copier lease amount in full to avoid further conflict with the lessor. It would also expedite the process of cancellation of the lease since the involved amount is already settled. It’s easier to get out of the lease once you pay your financial obligation.
3) Check for the Assumption Clause in your lease.
It is the cleanest way possible for you to cancel or get out of your copier lease. Why? Because of the rationale of this clause, you can have someone who is credit-worthy that can assume your obligation or assume at least the remaining term of your copier lease. It’s a clear “win-win-win” – a triple-win situation for the three of you – the lessor, the third party, and you as a lessee.
4) Be prepared for Early Termination Penalties.
As you check for the critical clauses in your copier lease, you must also take note of the early termination penalties so that you know your legal obligation and where to stand legally. The presence of said penalties is standard in any contract; it’s an assurance and a form of protection for the lessor once unexpected circumstances come into play.
5) Check if you have signed a Personal Guarantee.
If you have signed a personal guarantee in your copier lease, then breaking out from it might not be a good option. However, if you want to push through with the cancellation of the lease, it’s still better to review your signed personal guarantee to remind you of your obligations. The signer of the private security is responsible whenever things go wrong – if the company goes bankrupt or cancellation of lease happens.
5) Negotiate constantly with your lessor.
For a copier lease cancellation to be successful, you have to coordinate openly with your lessor regarding the whole process. Nothing can ever beat open and fair negotiations between two parties. If you are sure of the cancellation, then be honest and firm with your decision; go to your lessor and talk things through, most professionally and peacefully possible. Constant coordination and communication are critical to a copier lease’s smooth cancellation process.
6) Take warnings and tips as a form of opportunity.
The best tip for canceling a copier lease is to end it without any issues at all. How is it possible? Yes, it’s possible to walk away without any obligations, especially if your copier lease is less than one month and you have not yet received your equipment; it’s safe to say that it’s the best time to cancel it within this period. Seize the moment and grab the opportunity. As for the best warning: remind yourself that it’s a legal contract and therefore, cancellation of the lease is still not recommended, especially if you’re still having second thoughts.
Copier lease is a legal contract, and cancellation still takes a process. How to cancel a copier lease connotes a careful approach. If you are in Baltimore and you are looking for a Copier in Baltimore for your business, you may contact Clear Choice Technical Services in Baltimore. You can ask about Copier Leasing Services in Baltimore, Copier rental services in Baltimore, and Copier Repair in Baltimore. be warned.