Lease of Barbee equipment is increasing every year. You can lease one piece or a full shop. Leasing conserves your capital and allows you to have Barbee equipment working profitably for you while you pay for it. Here are the general rules on leasing:
TERMS FOR MAJOR EQUIPMENT
Cash: 1% discount for cash with order.
C.O.D.: There is no discount. A nominal C.O.D. charge is made to the customer by the transportation company.
Sight Draft: No down payment is required. There is no discount involved. Usually a nominal charge is made to the customer by the bank.
30 Day Open Account: If payment is made within 10 days from date of invoice, a 1% discount can be taken; otherwise full payment should be made within 30 days. A 1 1/2% carrying charge will be made on all accounts past 30 days.
30-60-90: There is no finance charge. Approval, however, must be made at time of purchase. 25% is required as initial deposit at time of order. Carrying charge at the rate of 1 1/2% will be assessed on any balance in arrears.
Extended Terms: If longer terms than 30-60-90 are required, customer would have to make arrangements through his own bank, or take advantage of our Lease-Purchase Plan available up to 3 years. Contact us for details.
TERMS FOR SUPPLIES
Cash, C.O.D., Sight Draft and 30 Day Open are available on supply items. (More specific information is same as covered above under equipment.) 30-60-90 or Extended Terms cannot be given on supply items.
Open Account: If an open account is desired, send three credit references plus the name of your bank. Some businesses are rated in the name of an individual rather than firm name. In such cases please furnish both names.
A 25% down payment is required for custom built equipment.