Scotchman Credit Corp. / Scotchman Industries Leasing Process

  1. Complete the one page lease application. Please be sure all areas are completed and the form is signed at the bottom to expedite the credit approval process. We cannot do any credit checks without the customer’s signature for authorization. Please remember we do not offer leasing in the states of Alabama, Nevada, New Jersey, or West Virginia.
  2. When the application has been approved, Scotchman Credit Corp. will notify the dealer, rep, and customer of the approval. If the lease application is not approved, the dealer and rep will also be notified. For those dealers who may not have alternate lease sources, Scotchman Industries has names of other leasing companies, but be aware that these other leasing companies will have considerably higher interest rates.
  3. Upon approval, the dealer will then place an order with Scotchman Industries for the machine and / or any tooling needed. The dealer will also at this point invoice Scotchman Credit Corp. for the total retail price agreed upon with the customer. We do not finance freight, so we need an itemized invoice for equipment only.
  4. Once a serial number has been supplied to Scotchman Credit Corp. by Scotchman Industries (for ordered machines) or by the dealer (for machines stocked by the dealer), Scotchman Credit Corp. will Fedex overnight the necessary paperwork for the customer to sign. The paperwork will be sent to the dealer or customer, whichever the dealer requests.
  5. When Scotchman Credit Corp. receives the signed paperwork back, including the necessary down payment, Scotchman Credit Corp. will notify Scotchman Industries or the dealer, whomever has the machine, it is ok to release / ship the machine to the customer. Please note that the customer should retain the Delivery & Acceptance Agreement sent with the lease papers until the machine is delivered.
  6. If the machine is shipped from Scotchman Industries, an invoice will be sent from Scotchman Industries to the dealer at dealer cost. The dealer then pays Scotchman Industries for the machine.
  7. After the customer has the machine, he will then sign the Delivery & Acceptance Agreement that was sent with the lease paperwork and send it back to Scotchman Credit Corp. Faxed copies are acceptable.
  8. When Scotchman Credit Corp. receives the Delivery & Acceptance Agreement, they will setup the lease and Fedex a check to the dealer for the retail amount agreed to by the customer, which should be the same amount the dealer has already invoiced to Scotchman Credit Corp.
  9. At this point all future billings and payment should be between Scotchman Credit Corp. and the customer.

08/02/12