PET - Plain English Taxonomy

Attribute: BSAO13184
Concept:
Label: Lending Commitments Not Drawn At End of Month - Finance Leases
Concept Guidance:
This is the undrawn value of new lending commitments provided by the reporting party during the relevant period, regardless of whether or not they have subsequently been withdrawn, or cancelled, after the period. This excludes commitments for commercial hire purchase agreements, for debt participation in leverages lease agreements, and for leveraged leases which are finance leases where the lessor provides a portion of the finance, with the major portion usually provided by long-term creditors and where the creditor's recourse to the lessor is restricted to the proceeds from disposal of the leased asset and any unremitted lease payments. A commitment is a firm offer to provide finance which has been accepted by the client. A commitment generally exists once the loan application has been approved, and a loan contract or letter of offer has been issued to the borrower. A Finance Lease refers to the leasing or hiring of tangible assets under an agreement (other than a hire purchase agreement) which transfers from the lessor to the lessee substantially all the risks and benefits incidental to ownership of the assets, without transferring the legal ownership. 
Dimensions
This attribute does not have any dimensions.