Once approved, other documents required
from the client and the function of each of the
documents:
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Signed and fully completed Rental Agreement (including the schedule/s and
Authority to pay letter thereto)
Company resolution – this is required if the signatory on the contract does not
reflect on CIPC as a director. We require proof that the person signing the
rental agreement has the authority to bind the company.
Acceptable Social and Environmental Checklist to be completed. This is a
requirement from the Industrial Development Corporation (IDC) for
environmental awareness.
Confirmation of turnover – as per the Credit Protection Act (CPA) we require
the confirmation of turnover or Net Asset Value (NAV) to establish which
agreement should be signed
Proof of Banking Details / Cancelled cheque
Landlord and Insurance Details
Signatory’s ID copy
Approval conditions:
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Approval conditions that need to be met before deal activation will be noted on the
approval form / report.
Approval is only valid for 3 months
Sunlyn will only finance the equipment and make for which the Supplier is approved for
Process if terms and conditions are altered on the
Rental Agreement and how they should be altered:
Any variation to the standard terms and conditions must be submitted to us for consideration
and approval. We will enter into negotiations with the client to come to Terms for the
Agreement.
Requirements Prior to Payout
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Completed original Rental Agreement
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Acceptable Social and Environmental Checklist
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Original invoice
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Landlord details
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Insurance details
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Complete installation of equipment and client to acknowledge that all is
in order
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All approval conditions to be met
Note: Unsigned alterations and / or amendments to
Rental agreements as well as agreements that
contain correction fluid will not be accepted for
processing
Sunlyn Invoice Instructions
TO:
SUNLYN (PTY) LTD
29 SCOTT STREET
WAVERLEY
VAT: 4410120689
TO BE DELIVERED ON YOUR BEHALF TO:
Client Name:
(Full legal name and Entity)
Physical Address: (Exact address where equipment will be delivered)
VAT: ____________
Full description of goods and serial numbers.
Amount – (remember to include R2,000 (Exc. VAT) documentation fee)
Supplier Full Name and Legal Entity
Registration number
VAT number
Banking details
Physical address
Contact numbers
Once deal was activated
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Ownership will reverts back to supplier at end of term of contract. Supplier pay a minimum
ownership fee of R1,500 (excl Vat).
It is up to the supplier to decide if:
 They want to pass ownership to the client (Sunlyn does not get involved in passing
ownership to client.)
 Keep the equipment to create secondary income by renting it for example on a short term
rental.
Client / supplier to give one calendar month’s of term prior to the expiry of the rental agreement. If
no notice is received the rental will continue until notice of termination is received, unless a
residual value is applicable.
Sunlyn cedes all right, titel and interest in and to the rental agreement to Sasfin Bank Limited
Sasfin will invoice client and debit order will be through Sasfin – all Sunlyn deals are 100% ceded
upfront to Sasfin.
Settlements
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Normal Settlement: (Non-Upgrade)
1) Rental x Period
a. Will bind the client if he / she wants to settle deal
b. Will inform Supplier before settlement, so that supplier can offer client
new equipment.
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Upgradable Settlement:
1)
Preferential rate @ NPV when client wants to upgrade with existing
supplier for bigger / latest equipment. Ensuring that they use same
supplier.
2)
Include the suppliers right of ownership in and to the “old” goods.