What requirements apply to equipment leasing program lease agreements?
(1) The department will follow the department of general administration purchased service procurement guidelines when selecting a leasing company to act as its agent to purchase and manage all equipment leasing arrangements for all selected growers. (2) All selected growers must enter into a department-approved lease agreement with the department-approved leasing firm. (3) All equipment lease agreements: (a) Must be exclusive to the selected grower for the term of the contract with the leasing company; and (b) Are not transferable without the written approval of the department. (4) Lease agreements cannot be paid off before the leasing company’s contract termination date.
