Leasing of Office and Medical Equipment

AssetMaster is a special service for IT, office and medical equipment rental. By renting the equipment during its effective operating period the company reduces its costs. AssetMaster increase the efficiency and competitiveness associated with the use of modern technology.

By using the rental service, the company pays less than if paying immediately. At the end of the rental period, it is possible to extend the term, to buy out the leased item or return it to the bank. In case of return Nordea provides secure data deletion, equipment utilization in environmentally friendly way or further disposal.

AssetMaster rental service complies with the IAS (the International Accounting Standard), which together with the on-line mode AssetAdvantage asset management system makes it easy to buy, rent and list the fixed assets costs of different aspects and according to the specificity of the company.

The leaseholds should not be included in the balance sheet because they are considered off-balance sheet commitments. Payments for AssetMaster transactions should be reported as expenses in addition to other payments for services.

Asset Master is a widely used service in the Scandinavian Countries. It is starting to get more and more prominent in the medical sector and IT-related companies in the Baltic States.

  • A complex solution: all the costs related to the rental are included in a single fixed quarterly payment for all leaseholds.
    • Enhancing of effectiveness: the possibility to increase the IT and medical equipment return, follow the market requirements, technologies and work with the latest technologies.
  • Savings: the company pays less for the use of equipment than by buying it straight away or by setting up the financial leasing.
  • Fixed rental payment: gives the possibility to make an accurate budget planning.
  • Off-balance sheet rental: facilitating cost accounting.
  • Flexible solution: possibility to extend the rental agreement (at a reduced rental payment), return or redeem the leasehold.
  • Fixed assets life cycle management system AssetAdvantage: easy and convenient control of costs, reports building, leasehold accounting and administration.

Apply for AssetMaster by contacting your company’s contact person at Nordea Bank, by calling the Nordea Contact Centre at +371 67 096 096 or sending an e-mail to lizings@nordea.com.

In order to use AssetMaster service, choose the necessary equipment for your company at the preferred vendor and contact Nordea Bank.

Our specialist will inform about the terms of rental and make an offer.

  • The seller should be a legal entity.
  • Lease duration: up to 5 years.
  • Down payment: from 0%.
  • Quarterly payment is fixed for the entire rental period.
  • Minimum financing amount: EUR 5000.
  • Transaction currency: EUR.
  • Arranging of formalities: up to 1.5 % from total amount of funding + VAT (minimum EUR 150 + VAT).
  • During the entire rental period the equipment should be insured.

Required Documents

  • Completed application form.
  • The company's financial statements for the previous year.
  • Income statement, balance sheet, long-term investments flow review for the previous quarter or semester.

Lease Payments
Every quarter the company will receive a monthly rental payment invoice electronically (no charge) or via regular mail (fee in accordance with the Price List).

Companies having entered in more than 5 lease agreements with Nordea Finance Latvia are offered a clearer invoice of lease payments.

All invoices of a type – operating or finance lease – can be joined under one consolidated invoice. Thus, you would receive just one invoice with an annex listing all your lease payments according to the effective lease agreements. Consolidated invoicing is free of charge.

To apply for consolidated invoicing, you are welcome to write an application, no set form required, to e-mail lizings@nordea.com