Best Practices
    for Merchants

Northern Leasing relies on vendors, representatives and independent sales organizations (ISOs) and merchant processing banks to submit lease applications and, in many cases, deploy equipment.

As part of Northern Leasing’s standard operating practices:

  • All Northern Leasing applications include:
    • Lessee business name and DBA, if applicable
    • Lessee address and business telephone number
    • Number of years in business
    • Equipment description
    • Term of Lease
    • Monthly Lease Payments
    • Personal Guarantor information, including name, address, home telephone number, and social security number
  • All Lessees are encouraged to read all pages of the non-cancelable lease before signing.
  • By signing the Lease Agreement, the merchant must:
    • Ensure all sections of the lease are completed accurately and legibly.
    • Assume responsibility for reading and understanding the Lease Agreement and its terms and conditions.
    • Agree to be bound by the terms and conditions of the lease.
    • Personally guarantee the lease.
    • Agree that amounts due under the Lease Agreement will be debited from the business checking account via automated clearing house.
    • Give Northern Leasing the right to access the personal guarantor’s credit report and to report Lessee performance to a credit bureau.
    • Agree to either obtain business insurance for the leased equipment or purchase Northern Leasing’s Loss and Damage Waiver.
  • Once the equipment has been delivered and installed, the merchant may receive a verification call from Northern Leasing to review the basic contract terms and equipment installation.
  • Lessees may also receive a quality assurance call.
  • Finally, all Lessees receive a Welcome Letter with a copy of the executed lease from Northern Leasing.
  • ISO’s are not authorized to make any representation on behalf of Northern Leasing regarding a lease nor may an ISO change or vary any of the terms and conditions of the lease documents.