The use of this facility does not alter the current purchasing practices and regulations with respect to acquiring computer equipment and software. There are no additional restrictions associated with a decision to rent. Allco Computer Rentals are the lessor for this agreement. Typically, there is no guaranteed residual value obligation in an operating lease. The leased asset does not appear as an asset in the Government s balance sheet nor does the obligation to pay rental appear as a liability.
Agencies determine the appropriate rental term.
The IT leasing Agreement can be used by all Victorian Government Departments or Agencies. So long as the supplier signs the Supplier Acknowledgment, there are no special restrictions applying to the equipment. The Government s sales tax exemption is available to companies who lease the equipment to the Government agencies. You return the equipment to a place nominated by Allco in Melbourne. If you wish to continue to rent the equipment, you will need to send a letter to Allco advising them of this 20 days prior to the end of the rental term.