First Data Global Leasing (FDGL) FDIS New Agent Development Training
First Data Learning Organization
Copyright 2009, First Data Corporation. All Rights Reserved. Developed by: 26 Rev: 09/22/2009/2.0
Product Overview
• Feature
• Benefits
• Target Market
• Resources
2 Copyright 2009, First Data Corporation. All Rights Reserved.
First Data Global Leasing
• First Data Merchant Services (FDMS) 1994
• First Data Global Leasing (FDGL) 1999
• Provides leasing solutions for over 100 channels in the U.S.,
UK, Canada, Puerto Rico and Mexico.
• > 250,000 leases funded to date.
• Two Locations:
- Melville, New York Location:
Portfolio Management, Finance, Sales, Administration
- Coral Springs, Florida Location:
Operations, Credit, Customer Service, and Collections
3 Copyright 2009, First Data Corporation. All Rights Reserved.
Program Features
• Fast application process and credit decisioning
capability.
• Collection of monthly lease payments (ACH)
and applicable sales and property taxes.
FD100
• Dedicated Portfolio Management and customer
service support.
• Training and Implementation Programs.
FD200
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Program Benefits
• Avoidance of large capital investment up front
• Low monthly payment
• Tax benefits FD100
• Preserves bank lines of credit
• Provides hedge against inflation
FD200
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FDIS Sales Agent Benefits
• Commission
• Bundling opportunities
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Purchasing Equipment
Who purchases the equipment?
• It is the FDIS Sales Agent's responsibility to purchase
equipment.
• FDGL does not supply equipment, only funds equipment.
• FDGL does not automatically warrant equipment.
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Knowledge Check
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Review - Knowledge Check 1
What does FDGL stand for?
A. First Data General Lease
B. First Data Grant and Lease Program
C. First Data Guarantee Leasing
D. First Data Global Leasing
9 Copyright 2009, First Data Corporation. All Rights Reserved.
Review - Knowledge Check 2
Which of the following does the FDIS Sales Agent do?
A. Fund the equipment
B. Purchase the equipment
C. Lease the equipment
D. Warranty the equipment
10 Copyright 2009, First Data Corporation. All Rights Reserved.
Two (2) Kinds of Applications
Embedded Lease (Preferred Application)
• Apply directly through the FDIS-CSI Merchant
Application and Agreement:
◄ BENEFITS of the
EMBEDDED LEASE
- Merchant only signs once!
- No need to send a voided check to FDIS-CSI & FDGL!
- Embedded Lease available electronically through ROLA!
FDGL Stand Alone (paper) Document
• FDIS-CSI Application and Agreement is separate
from the FDGL Application:
- Merchant must fill out both applications and sign.
- Merchant is required to give a voided check to FDGL. -
Used primarily for corrections after the initial MAA is
submitted.
1.
2.
Ease for
merchants - don't
feel they are
signing their lives
away on
numerous
applications!
Ease for agents -
don't have to fax
an FDIS
application and
FDGL application
separately
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Process - Embedded Lease
1. Agent submits lease.
2. FDIS will send Leasing Info to FDGL.
- Pre-Score will appear within 2 hours on MAO as a memo*.
- Pre-Score will also be emailed directly to the agent by FDGL.
3. FDGL will complete the remaining steps with the
merchant directly.
NOTE: If you choose to send in directly to FDGL, the pre- score will NOT show up on MAO.
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Where Do I Find the FDGL Memos?
• My Office>Applications>Application Status.
• No Longer required to drill down through multiply summary
pages to get to individual merchant applications.
Files that have "Live" status will now appear in
My office>Accounts>Account Status
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Changing Embedded Lease • Must submit change
as a Stand-Alone
(paper) document
- No changes or
cross-outs
allowed.
- Mark as "DO NOT
PRE-SCORE".
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Knowledge Check
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Review - Knowledge Check
It is recommended that you submit the embedded lease rather than
the stand alone lease to contract with your merchant.
Which of the statements below is true about the embedded lease?
A. Lease can be submitted online, paper faxed or mailed by post
B. Lease requires two separate documents, two signatures, two voided
checks
C. Lease is one document only, requires only a signature and voided
check
D. Lease can be submitted online, requires one signature, and requires
no voided check
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Changes / Modifications
• A lease is a legal document, so there can be no cross- outs,
erasures, white-out's, corrections or other changes.
• In the event of an error, start over with a new form.
• Remember, when using a new form after a pre-score has been
generated, indicate on the top of the form,
"DO NOT PRESCORE."
- Use ink
- Fill in all requirements
- Match customer's signature to
driver's license
- Match bank account information to
voided check
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Lease Form Fields
• Merchant Information: Legal and DBA, Street Address, Type
and Yrs. In Business, Bank ABA/DDA.
• Equipment description: Quantity, Unit Price (per unit).
• Schedule of Payments: Lease Term, Monthly Lease Payment
and Total Monthly Charge.
• The lease acceptance: Signature, Title, Printed Name and
Date.
• The personal guarantee: Signature, NO TITLE, Social Security
#.
• Voided business check from account that will accept ACH
debits must be included with completed lease paperwork.
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Program Enhancements
• Technology upgrades:
- $100 fee
- New lease term starts over
- Lease term and monthly lease charge
= > current agreement
• Assignment/Transfer capability:
- $175 fee
• Large deal accommodations
(multiple locations/assets)
• Available in electronic format
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General Terms and Conditions
• The lease is non-cancelable.
• End of Lease Term options
- Converts to a month to month rental FD100
- Purchase equipment (lease end purchase
options are detailed in section 7 of the
Equipment Lease Agreement)
- Return of equipment
FD200
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Support
• FDIS Sales Agent Support
- FDGL Administration, Sales, Portfolio Management, Accounting,
Finance and Systems.
- Operations including Customer Service, Data Entry, Credit and
Collections.
• Merchant Support
- FDGL customer service representatives for:
•Assignment of leases •Lease questions
•Early terminations •Changes in address
•End of lease options •Changes in bank accounts
•Loss & Destruction notification
21 Copyright 2009, First Data Corporation. All Rights Reserved.
Review
1. Where does the leased equipment come from?
2. What is First Data Global Leasing's role?
3. What is pre-score?
4. What are the benefits of using the embedded lease contract
over the stand-along contract?
5. What opportunities are there for you, the FDIS Sales Agent,
at the end of the lease term?
22 Copyright 2009, First Data Corporation. All Rights Reserved.
Pricing Formula Chart
FDIS Sales Agent Funding Factors
LEAS
E
TERM
12
24
36
48
"PREFERRED"
FUNDING
FACTO
R
.0975
.0530
.0360
.0285
"TIER A"
FUNDIN
G
FACTO
R
.0995
.0550
.0370
.0295
"TIER B"
FUNDIN
G
FACTOR
.1204
.0560
.0405
.0315
"TIER C"
FUNDIN
G
FACTOR
.1204
.0590
.0440
.0325
"TIER D"
FUNDIN
G
FACTOR
.1490
.0722
.0517
.0459
"TIER E"
FUNDING
FACTOR
.1490
.0722
.0517
.0459
ADVANCED
PAYMENTS
None
None
None
None
ORIGINATION
FEES
None
None
None
None
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Questions?
First Data Global Leasing
Thank You!
FDIS New Agent Development Training
First Data Learning Organization