Finance Solutions

Type: New Contract Reference: Supply Route: Direct
Start Date: 4 September 2018 Expiry Date: 3 September 2022

Overview

This framework starts on 4 September 2018, runs for 48 months and ends on 3 September 2022.

The Framework offers trusts three innovative asset finance solutions to ensure that trusts are able to plan and procure the right equipment for your short and long term clinical needs:

  • Finance Leases
  • Finance Loans
  • Operating Leases.

Once your requirements are refined in terms of equipment specification and value, we can then perform a lease quotation exercise on your behalf. For details on how to obtain a quote, please contact:

Quotes / Indicative pricing:

  • Indicative pricing is available initially based upon monthly updated lease rates or tailored indicative costs from past similar projects. Three, five or seven year alternatives are provided for both quarterly and annual payment profile options for review.
  • If you decide to pursue a full lease tender then we will issue a one page lease questionnaire along with supporting instructions.

Timeframes:

  • Indicative pricing – 24 to 48 hours.
  • Full lease/loan tender – 5, 7, or 10 working day tender cycles, depending on the complexity of the lease project and timescales highlighted by you.

Information you will need to provide:

  • Indicative pricing – Capital quotation and specification.
  • Full lease tender – Final Capital quotation and equipment specification plus a fully completed (one page) lease questionnaire.

Through our framework we are able to offer commercial loan financing and leasing arrangements.

Finance Leases

  • On balance sheet lending
  • Financed through the capital budget
  • Lessors take equipment title but risk and reward of ownership sits with the trust
  • As a minimum, the term of the finance lease must cover the economic life of the equipment
  • The trust can continue to use the equipment after the lease period for a ‘peppercorn rental’
  • On disposal the trust can take the majority of the sale value (normally 95%-99%).

Operating Leases

  • Off balance sheet funding*
  • Financed through the revenue budget*
  • The trust pays a rental and does not own the equipment
  • Lessor pays for the equipment in full and has a ‘Residual Value’ invested
  • The trust can extend or alternatively return the asset at the end of the lease without having paid for all of it
  • The lease period must be less than the economic life of the equipment
  • No option to purchase in the lease.

*Subject to change once new accounting standards (IRFS-16) are implemented in January 2019.

Finance Loans

  • Spread the costs of financing building works associated with the installation of large medical equipment (such as diagnostic imaging)
  • Fund multi-year maintenance services where significant savings can be made by committing up front.

Information below is not including suppliers with Condition of Award at this stage.

  • The new framework includes 13 suppliers
  • Five suppliers are new to the framework
  • Eight suppliers are incumbent on the framework
  • None have been removed from the framework.
Suppliers Incumbent New to NHS Supply Chain New to Framework
BNP Paribas Leasing Solutions X
CHG Meridian X
De Lage Landen Leasing Ltd X
GE Capital Equipment Finance X
Lloyds Banks Plc X
Philips Electronics UK Limited X
Richard C Bircher (Holdings) Limited X
Shawbrook Bank Ltd X
Siemans Financial Services X
Societe Generale Equipment Finance Limited X
Solutions Asset Finance Ltd X
TP Leasing Ltd X
Triple Point Lease Partners X
  • Finance Solutions provides a compliant framework with no contractual obligation or retainer fee required to access it.
  • Simple and transparent arrangement fee structure which is capped to ensure it is competitive and that trusts are able to use regardless of the ‘route to purchase’ the equipment.
  • You remain in control of the award decision supported by NHS Supply Chain.
  • Dedicated team focused solely on the Finance Solutions market as part of a wider Service Contracts team.
  • We work alongside the Equipment Buyers, Account Managers and Capital Planning teams to ensure the best possible service is delivered.
  • Full support is provided throughout the process, from business case, quotation to award stage and beyond. You will receive a lease portfolio report ensuring control of all up and coming expirations.
  • Lease expiration options are managed by you regardless of the route being taken (equipment return / equipment replacement / lease extension).
  • Payment profiling to fit your trust’s needs.
  • Financial assistance to buy new products to keep up to date with the latest technology.

Downloads ▼

  • Finance Solutions Brochure

    A PDF file detailing our financing options.