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Oracle Lease and Finance Management User's Guide
Release 12.1
Part Number E13583-05
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Glossary

$1 buyout
The end of term purchase option given to the lessee where the fixed purchase option is at a value of $1. A $1 buyout is used in conjunction with a $1 purchase option.
accrual accounting
Recognizes economic events regardless of when actual cash transactions occur. The opposite of cash basis accounting.
advance rent
Rent received at the start of the lease that will be adjusted against the last rents.
advance/arrears indicator
Shows if the rents are billed in advance or in arrears of the rental period.
amortization
The systematic method for recording financial elements to income or expense over a defined period, typically the lease or loan term.
approver
The person who is authorized to approve the document before the next activity may be carried out.
asset item
Anything you make, purchase, or sell including components, subassemblies, finished products, or supplies that carries a cost and is valued in your asset subinventories.
articles
Textual sections of contract terms and conditions.
as-due basis
An event initiated based on when the invoice is due.
asset disposition
Sale or disposal of assets.
authoring
A process of creating a contract.
auto-invoice
The process of automatically invoicing the lessee for a payment due. This process can be automated by running a concurrent program.
auto-terminate
The process of automatically terminating a lease contract when it reaches its end of term. This process is automated by running a concurrent program.
billed basis
An event initiated based on when the item is billed.
billing
The process of notifying the responsibility party of amounts due.
billing frequency
The frequency with which bills are presented to a customer.
booking
The process of preparing and recording accounting records associated with a contract.
broker
A person or organization acting as an agent to vendor, dealer, or lessor in negotiating a transaction.
buck-out lease
Full payout, net leases structured with a bargain purchase option for the lessee to purchase the equipment for one dollar at the expiration of the lease. These leases are often referred to as dollar buyout or buck-out leases.
business unit
A business unit is an entity created by a company to manage a certain segment or segments of its business. The business unit can span multiple product lines and geographies.
buyout
customer buys equipment from lessor at the end of the contract's full life.
buyout amount
This is the amount necessary for the customer to pay in order to consider the contract paid in full.
cancellation
When a customer has the contractual right to end an agreement (that is, the customer is at the end of term in month-to-month status, non-appropriation clause, or rental agreement).
capital lease
A type of lease classified and accounted for by a lessee as a purchase and by the lessor as a sale or financing. It must meet at least one of the criteria outlined in paragraph 7 of FASB 13. It is treated as debt and an offsetting depreciable asset for book accounting purposes.
capitalized cost
The cost of equipment to be leased plus various fees, charges, or interest that may be added to the equipment cost. The total capitalized cost--or basis--is the amount upon which the tax benefits or depreciation on the equipment are based.
cash basis
An event initiated based on when cash is received. A related pass-through disbursement is created when cash is applied against an invoice.
catch-all
A placeholder used at the top of a territory hierarchy when no other is defined in Territory Management.
closed item
An invoiced item that was paid.
collateral
The additional security provided by the borrower for availing the credit facility provided by the lender. The additional security is normally in the form of assets which are, in addition to the asset, financed by the loan or lease.From a customer service perspective, collateral also is a static fulfillment document that doesn't contain merged data. It is usually some sort of marketing brochure or some other document. It is sent in an email as an attachment. It is often called a deliverable in the marketing applications.
concurrent program
An instance of an execution file, along with parameter definitions and incompatibilities. Concurrent programs use concurrent program executables to locate the correct execution file. Several concurrent programs may use the same execution file to perform their specific tasks, each having different parameter defaults and incompatibilities.
consolidated billing
One or more billing items combined into one group for invoicing purposes.
consolidated counter
A logical counter that groups the counters belonging to more than one contract. These counters need to be consolidated into one consolidated record as per customer requirement.
context
A context is a pool of global variables that are passed as parameters to functions. An instance of context should exist to execute Formulae.
context assembler
A Context Assembler is a PL/SQL procedure that creates a new instance of a context and populates values of context parameters. Each external entity which wants to use the Contracts Formula Engine must have its Context Assembler and Context.
context parameter
A context parameter is a variable of a context that is be passed as a parameter to functions. An instance of context parameter is created whenever a new instance of context object is required.
contract
A written, signed, Legal Agreement between/among trading partners that has financial, legal, and industry-specific operational consequences.
contract activation
A series of steps performed on an authored contract that culminates with a booked contract that is ready to be billed.
contract ID
Unique identifier of a contract.
contract status
The state of the contract. Possible values: new, passed, complete, incomplete, pending approval, booked, under revision, evergreen, litigation hold, bankruptcy hold, expired, terminated, reversed, amended, abandoned
contract validation
The application of various QA logic and business rules to a contract to insure it meets business requirements.
contracts formula engine thread
A formula is executed within an instance of a context. Operands of the formula can call other formulae and functions that are executed within the same instance of the context. This process is referred to as the contract formula engine thread.
contract shell
A contract in inactive state with minimal data contained in it. The minimal data is customer information and product category.
coterminous
All assets on a contract terminate at the same time, regardless of their start dates.
cure amount
The amount due to satisfy a customer's past due rents. The payment may be required from a vendor or other third party.
customization
Customizations are enhancements to an Oracle applications system made to fit the needs of a specific user community.
DBA
Name company is Doing Business As.
dealer
The dealer, or supplier, supplies equipment or some kind of services for a transaction. Either one of them may be a party to the vendor program agreement. See Supplier.
direct debit
Direct Debit is a feature offered by banks to enable their customers, the lessors, to collect payments due to them directly from the lessee’s bank. The lessee must authorize the lessor to withdraw the funds
due date
The date on which payment is due from the customer.
direct finance lease
Direct finance lease is a non-leveraged lease by a lessor (not a manufacturer or dealer) in which the lease meets any of the definitional criteria of a capital lease, plus certain additional criteria.
disposition
Sale or disposal of assets.
disbursement
Disbursements are payments to suppliers or other third parties for the cost of equipment, a prepayment facility with lessor, maintenance, insurance and other services. Some disbursements such as pass-through and investor payments are linked to billing events.
distribution
Defined group of accounting codes that determine debit and credit accounts that is affected in the General Ledger. A distribution may define percentage-wise allocation of funds between accounts.
distribution group
Distribution group is a logical grouping of distributions.
effective dates
Effective dates are the dates a record is effective or to be in use.
employee
A resource type that represents a person who is hired to work for a company. Employee resources can be input as resources in various pages available without installing the Human Resources Management System (HRMS).
end-of-term (EOT)
The end of the primary or renewal term. Unless specified otherwise, end-of-term refers to the end of the primary term.
end-of-term option
An option used to derive the future value component of the leasing pricing equations. It can be based on either the expected residual value or a purchase option. The value is assigned for specific combinations of contract term and items or item categories. The option is not used for termination quote calculation.
escalation
Actions in a process that increase in extent or intensity.
evergreen
Evergreen refers to a lease contract period past the initial term end date, when rents are still collected. Evergreen is the default contingent continuation of a lease after its contractual end-of-term, where a lessee continues to pay indefinitely.The contract language includes an Evergreen Eligibility Clause, indicating the customer will be billed a rental amount indefinitely unless they provide the Equipment Return Notice by a certain date.
execution date
The strategy performance date. At the execution date a member of the assignment group executes the strategy and notes the action taken.Also refers to the date a lease contract is signed.
exposure
The total amount of credit risk the lessor has with the customer. This amount is normally the amounts due, plus net investment value (NIV), plus approved credit not drawn down.
fair market value lease
A lease that includes an option for the lessee to either renew the lease at a fair market value, or purchase the equipment for its fair market value at the end of the lease term.
FASB
An acronym for Financial Accounting Standards Board.
FASB 13
The FASB's statement of Financial Accounting Standards No. 13 is recognized as the accounting guideline for financial statement reporting of lease investments and/or liabilities.
FASB 109
The FASB's statement of Financial Accounting Standards No. 109 supersedes FASB statement 96, Accounting for Income Taxes. This includes a basic principle that the measurement of deferred tax assets is reduced, if necessary.
financial product
A financial product in Oracle Lease and Finance Management groups together a set of attributes and rules based on which contracts are created. It is mandatory for every contract to be associated with a single product.
fixed rate
A contract with an interest rate factor that does not change during its life.
fixed purchase option
a pre-defined fixed price that is agreed to by the lessor/lessee while writing a contract.
flexfield
A flexible data field format that your organization can customize to your business needs without programming.
floor price
The targeted minimum amount acceptable for the sale of an asset.
FMV
An acronym for Fair Market Value. The price for which property is sold in an arms-length transaction between two unrelated parties. (See Fair Market Value Lease.)
form
Forms are a logical collection of fields, regions, and graphical components that appears on a single page. Oracle applications forms resemble paper forms used to run a business. You enter data by typing information into the form.
forms server
A Forms server is a type of application server that hosts the Forms server engine. It mediates between the desktop client and the database, providing input pages for the Forms-based products on the desktop client and creating or changing database records based on user actions.
formula
An arithmetic operation over operands.
formula counter
Formula type counters allow users to use simple math to derive the counter value. For example, you use a formula counter to track total number of copies made with photo copy machine, which provides both black and white copies and color copies.
full payout lease
A lease in which the full cost of the asset is recouped through the lease stream. The present value of the lease stream equals the initial product cost. The lessor assumes no residual value for the equipment at end of term. In essence, this is a loan to the lessor's customer, the lessee. However, by including a $1 end of term buyout, the lessor and lessee treat the transaction as a lease.
function
A function is a register of a function that returns a scalar numeric value.
function parameter
A function parameter passes a value to function. The function parameter gets its value from the corresponding context parameter. The context parameter comes from an instance of context in which the function is executed.
funding
Generally, funding is the process of paying a supplier for leased equipment.
general ledger
The General Ledger (GL) is the book of final entry summarizing all of a company's financial transactions through offsetting debit and credit accounts.
general loss provision
Loss Provisions and reserves established based on contract types and aging categories to offset write-offs for bad debts.
general reserve
See general loss provision.
gross remaining receivables
The remaining unpaid billed and not billed gross receivable at a point in time.
guaranteed residual
That portion of the residual that becomes guaranteed from a third party through the purchase of residual value insurance and is to be accounted for as accounts receivable rather than residual receivable.
guarantor
The entity that guarantees payments in the event of lessee default.
insurance premium
The amount paid or payable by the lessee to the lessor, and by the lessor to the insurance provider, for the insurance policy. It can be paid either I installments or upfront in a lump sum.
insurance provider
The insurance company or underwriter who insures the asset(s) on a lease. The insurance policy may be funded by either the lessor or the lessee, but the insurance provider is the financial institution that sells the policy and covers the asset.
interaction
An interaction is a touch point that occurs between a customer, a customer system, a resource, or a resource system. An example of a touch point is a phone call between an agent and a customer. Interactions include activities, media, and media items.
Interaction History
Interaction History (IH) provides Oracle applications with a common framework for capturing and accessing all interaction data associated with customer contacts. IH acts as the central repository and provides a consistent API for tracking all automated or agent-based customer interactions.
inventory item
Items you stock in inventory. You control inventory for inventory items by quantity and value. Typically, the inventory item remains an asset until you consume it. You recognize the cost of an inventory item as an expense when you consume it or sell it. You generally value the inventory for an item by multiplying the item standard cost by the quantity on hand.
investor
Investors are parties to syndicated contracts. For the purpose of this document, investor and syndicated party are interchangeable terms.
investor stake (%)
The amount an investor pays to acquire an interest in an investor agreement.
invoice
A bill sent to a customer, or a notice for the lessor to pay a disbursement to an investor.
invoice amount
Total amount of charges on an invoice.
invoice date
The date of the Oracle Receivables invoice. The invoice creation date, invoice date, invoice printing date, and the due dates can be different in any receivables system. In Lease and Finance Management, the invoice date and payment term derive the due date.
invoice format
Invoice format is a group of invoice types that specify how data is to appear on the invoices.
invoice generation
The process of creating an open receivables invoice within Oracle Receivables.
invoice parameters
Invoice Parameters specify rules for grouping transactions within an Oracle Lease and Finance Management invoice.
items
Items can be master documents, collateral, or attachments in fulfillment. Items are inserted in the body of an email. Items are selected from the list of all possible documents and collateral material available to the user from fulfillment templates.
IVR
Acronym for Interactive Voice Recognition.
journal entries
A set of financial data that is of significance for recording ledger transactions in accounting.
key flexfield
A key flexfield is a field format you can customize to enter multi-segment values such as part numbers, account numbers, location, and so on. Key flexfields relate to specific uses in Oracle applications.
late charge
An amount assessed as a result of the payment due on a contract not being received within a certain pre-set number of days from the due date.
late interest
Refers to the interest rate factor applied to an outstanding invoice amount from the time it is due until it is paid.
lease
A lease is a contract in which one party conveys the use of an asset to another party for a specific period of time for a predetermined payment amount.
lessee
User of the equipment being leased.
lessor
Owner of the equipment which is being leased.
lockbox
A service offered by banks to companies in which the company receives payments by mail to a post box office, and the bank picks up the payments several times a day, deposits them into the company’s account, and notifies the company of the deposit. Lockbox enables the company to put the money to work as soon as it is received.
lookup codes
Imbedded codes in Oracle Applications that enable you to define a feature prior to setup. These include defining article sets, contract roles, and so on.
margin
For variable interest rate, add margin to the base interest rate factor to determine the actual rate of interest. This is expressed as the number of basis points on top of the index rate.
master lease contract
A master lease contract is an (electronic) document, which contains leasing terms and conditions that, through reference to the master lease agreement number, can apply to contracts.
media
In Interaction History, media represents the communication channel through which an activity takes place. Examples can include: the phone, the fax machine, an ATM, or a cell phone.
messages
A message is an informative note maintained with the customer’s invoice record. There are several types of messages, including the following: a permanent message, a one-time message, or a miscellaneous message.
meter read
Actual number of usage units from a counter at a point in time.
mill rate
The percentage tax rate in effect for property tax. (This applies to the USA only.)
net book value (NBV)
In terms of an operating lease, it is the original first cost, less accumulated book depreciation. The amount represents the lessor's investment in a lease.
net investment
The investment or equity, net of expected income, a lessor has in a transaction.
net present value (NPV)
The net present value (NPV) is the valuation method based on discounted cash flows. NPV is calculated by discounting a series of future cash flows and summing the discounted amounts.
non-consolidated counter
A non-consolidated counter is assigned to each asset on a specific contract.
non termination write down
Creation of a loss provision on a contract without terminating the contract.
Notes
Notes is a tool that provides locations where you can specify more text detail, if needed. You can add a note to a task in Task Manager.
note status
There are three statuses available for notes in Oracle Applications:
note text
A large text note, such as a customer's letter or directions.
note type
Note type is selected from a lookup table. You can add note types through the setup window. They provide a further categorization of notes based on a user's needs. Also, you can tie a note type to a source type and such note types are visible only to that mapped source. Therefore, you must choose between the entire list of note types that have been defined for your source and those which do not have any source type attached to them.
object
An object is any identifiable individual or thing. It can be physical, such as a telephone or PBX, or an abstract concept, such as a market campaign in Interaction History.
OEC
An acronym for Original Equipment Cost, which is the original cost of the leased equipment.
OKL
An acronym for the Oracle Lease and Finance Management product, as designated in the Oracle applications database.
OLM
A general reference acronym for Oracle Lease and Finance Management, not to be confused with Oracle Learning Management.
open item
A receivable item that has not been paid.
operand
An operand is a register of an object that can take part in arithmetic operations. Operand can use formula, function or a regular expression as the source for its value.
operating agreement
1. An operating agreement is a mutual agreement between a lessor and vendor to work together and administer certain financing programs which set specific terms and conditions for future transactions. 2. For more complex business models, Oracle Lease and Finance Management enables a two-tier vendor agreement structure. The operating agreement serves as a parent to a program agreement. Operating agreements are not operating unit-specific. Therefore, they may act as parents to program agreements from various operating units and may have different primary parties than the program agreement.
operating lease
A lease which does not satisfy any of the criteria of a “capital lease” under local accounting principles.
partial termination
The amount a customer must pay for a subset of assets and a contract to terminate them and pay off all future amounts due.
payment in advance
Periodic payments due in advance of the rental period.
payment in arrears
Periodic payments due before the last day of the rental period.
payment level
A payment level is the number, frequency, and due amount for a specific time period.
payment method
Method used to facilitate and process payment.
PO Number
Purchase Order number.
principal balance
A loan concept, which can also be used in leasing vernacular, designating remaining gross receivable, less unearned finance charges.
private label
Private label products or services are typically those manufactured or provided by one company for offer under another company’s brand.
product
Usually, financial product (not an asset; for example, not a piece of equipment).
product option
A property of a financial product that defines a value or allows the user to select a value from a set of values at the time of the lease authoring. Options are typically associated with specific terms and conditions that govern the behavior of contract transactions. At the time of authoring a contract, you can render an option as required or as optional. A typical option with multiple values associated with it might be Interest Method or End-of-term Purchase option.
product quality
A property of a financial product that is mandatory and, once selected, cannot be changed. Qualities are used for the purpose of categorization of products.
profile options
In Oracle Applications, profile options enable you to turn on or off specific functionality, such as integrations and processes, and allows you to set specific parameters that govern a process or transaction such as number of days before a task is due that the user is notified.
program agreement
An agreement between a lessor and a vendor such that the lessor provides financing for the vendor to its customers. The terms and conditions of the program agreement may govern aspects of the leases created as a result of the program.
property tax
Tax assessed for owning property.
pro-rate read
An actual reading, but received either before or after the due date. To use pro ration, calculate a daily rate and then multiply that value to the number of days from the last meter read due date until the current meter read due date.
purchase option
An option given to the lessee to purchase the equipment from the lessor, usually as of a specified date. Options vary in type: Guaranteed Purchase Option (GPO), Bargain Purchase Option, Fair Market Value Option (FMV), Mid-Term Purchase Option.
quote history
This is the history of buyout quotes given to a customer.
rebooking
The process of altering an existing lease/loan transaction due to some financial change in the deal structure; rental payment change, credit extension, due date change, etc. New accounting entries or adjusting entries are made when the contract is reactivated.
re-amortization
Recalculation of rental payments on variable rate products as interest rates change.
recourse
The right of the lender/lessor to pursue payment from a third party if the lessee/borrower defaults.
regular counter
Physical counters found in tangible objects like automobiles, gas meters, photo copy machine, etc.
re-lease
Assets from previous leases that are placed onto a new lease.
remit-to address
Address where customers send in the payment for their invoices.
repurchase
Vendor or other third party agrees to purchase original asset when it comes off lease.
repurchase amount
The amount required from the vendor or third party to buy a transaction back. This amount is determined by pre-set calculation specified in the vendor agreement. This may vary form vendor to vendor.
residual amount
The estimated value of an asset at the end of a lease for which the lessee is not expected to pay.
residual value insurance
An insurance premium purchased from a third party so as to guarantee a portion of the residual value, which in turn is designated as a recovery of the capital cost and included in the FASB 13 test for classifying a leasing transaction.
residual write-down
Taken to reflect a drop in the expected market value of an asset at lease expiration.
resource
The basic element of the Resource Manager in Oracle Applications and is defined as people, places and things.
resource category
In Oracle Applications, any of five types of resources defined in Resource Manager: party, employee, partner, supplier contact, and other/to be hired (TBH).
Resource Manager
The Resource Manager is a tool used to define, access, and maintain all Oracle Applications resources.
responsibility
A responsibility is a level of authority in Oracle Applications that allows access only to those Oracle Applications functions and data appropriate to fulfill your role in the organization.
restructure
When an agreement is made with a customer to amend the current payment structure, usually to reduce regular payment amounts or extend the term.
role
Roles group various permissions at the page level and function level, are used to maintain application security.
role type
A role type is a group of related roles associated with a particular Oracle Applications module.
sales tax
Tax based on the sale of property by federal, state and local authorities.
sales-type lease
A lease in which the lessor is also the vendor (manufacturer or distributor) of the equipment.
salvage value
The accounting estimate of the asset value once it is depreciated over the term of the lease. This is typically based on an estimate of the future value, less a safety margin.
securitization
This is the process of selling the cash flows in a pool of assets to outside investors at a rate below the earning rate, enabling an accelerated gain to be recorded. The servicing and administration of the contracts for the pooled assets is normally retained by the lessor.
service (1)
a) Customer Service, the Lease Center view of Oracle Lease and Finance Management provided to a lessor's Customer Service agents who login using the Lease Center Agent profile. Lessees, vendors, and other interested parties typically telephone into lessor's call center to ask questions regarding specific account details. b) Customer Self Service, web portal access to lessees so they can view their account and contract information. Set up by the lessor so that lessees can access their own account information, according to the lessor's information and security policies.c) Vendor Self Service, web portal access to both vendor and customer contract and account information. Set up by the lessor so that vendors and suppliers can access their own account information, and information on lessees of their equipment, according to the lessor's information and security policies. (May update and enter some transactions.)
service (2)
Service contracts on leased equipment assets. (Also, Oracle Service Contracts is a separate Oracle E-Business Suite application that integrates with Oracle Lease and Finance Management.)
service and maintenance
Fees charged to a customer for servicing or warranting assets, such as extended warranty contracts.
specific provision or reserve
A loss provision or reserve, established to recognize potential impairment of the collection of a specific receivable.
stipulated loss value table
A table indicating the amount to be paid to the lessor in case a leased asset is lost or destroyed.
straight-line depreciation
A form of depreciation whereby the owner of the equipment takes an equal amount of depreciation in each full year of the equipment's useful life or recovery period.
stream
A stream is a schedule of amounts and associated dates.
stream activity
Stream activity types describe the state of the stream. A stream can be ACTIVE, CURRENT, HISTORY, or WORKING.
stream element
A single amount and its corresponding date (i.e., a cash flow). A stream element is the line level detail of a stream. A stream can have multiple stream elements.
stream purpose
A stream purpose is an important attribute of a stream type that determines how Lease and Finance Management processes the stream. Lease and Finance Management recognizes streams based on their stream purpose name.
stream type
The functional name for a stream which relates to the attributes used to process a stream.
stream type subclass
Rent or Residual.
subledger
A book in which the monetary transactions related to a specific financial function of a business are posted in the form of debits and credits before the financial transaction is posted in the General Ledger.
supplier
Oracle Payables uses the term “Supplier” for vendors, so “Vendor” and “Supplier” are used interchangeably for the purpose of this document, unless specified otherwise.
syndicated contract
Investors other than the lessor invest a stake in the contract in return for a portion of the rent and related receivables. Oracle Lease and Finance Management makes a disbursement to an investor in relationship to the billing. Information about the investment and disbursement method is setup when the investor agreement is authored.
syndication
The selling off of a deal, or portion of a deal, to outside investors. This arrangement reduces the lessor's risk and accelerates the return on the deal. See Investor Agreements in the Oracle Lease and Finance Management User's Guide.
system administrator
The system administrator is the person who manages administrative tasks in Oracle Applications, such as registering new users and defining system printers, using the system administrator responsibility.
task
A task is a discrete unit of work that is assigned to one or more individuals. Tasks are managed by the Task Manager. Tasks are often scheduled events and have defined expirations.
task group templates
A task group template is a grouping of different task templates defined during setup in Task Manager.
Task Manager
Task Manager is a tool used to manage tasks throughout other applications. Task Manager provides a mechanism for tasks to be created, assigned, managed, sorted, and prioritized to provide timely response to customer issues.
task owner
An owner is the person (resource) that creates and is responsible for the task.
task type
A task type defines the nature of the task such as a callback or a meeting.
terminal rental adjustment clause (TRAC)
A provision in a lease that permits or requires an adjustment of rentals according to the amount realized by a lessor upon a sale of the leased equipment. This allows the lessor to guarantee a terminal (residual) value while still claiming tax ownership on a lease. This benefit only applies to certain classes of vehicles.
termination
The process of ending a leasing transaction with the lessee.
territory
A territory is an organizational domain with boundaries defined by attributes of customers, products, services, and resources in Territory Management.
territory administrator
This person administers the specific and periodic duties of Territory Management.
Territory Manager (TM)
Territory Manager is a tool that helps manages territories.
TCA
An acronym for Trading Community Architecture. This is a standardized approach in Oracle Applications for handling customer and other party information.
termination quote
Termination quotes allow contracts or assets on a contract to terminate early or at the expiration of a contract. Termination quotes identify the financial impact of the termination. The various business rules specified in a contract’s terms and conditions are the basis of calculating the financial impact of a termination quote.
terms and conditions
Financial and legal arrangements that are agreed to by parties of a contract.
transaction business category (TBC)
A business classification provided by Oracle E-Business Tax to identify and classify business transactions.
transfer and assumption
When a contract obligation and use of leased assets are transferred from one party to another party with the lessor's consent.
transaction type
An event in Oracle Lease and Finance Management relating to a contract or asset.
UBB
An acronym for Usage Based Billing. Rental payments are derived in part or in full, based on a specific rate per number of units used or counted.
user
A user is any person who needs access to any application, including various types of customers, partners, suppliers, and employees.
user ID
The User ID is a combination of a user name and its password.
user profile
User profiles, which are associated with responsibilities, are a set of user interfaces that give users access to their personal data and preferences.
user type
A user type is a category of users that caters to the specific needs of an application's business requirements in User Management. User types allow flexible and extensible ways for defining, categorizing and implementing behavior of users. A user type is associated to only one template, one responsibility, zero or one approval and zero or more roles.
value added tax (VAT)
An indirect tax on consumer expenditure that is collected on business transactions and imports. VAT is charged at each stage (e.g. production, distribution, retail, etc.) in the supply of products. If a customer is registered for VAT and uses the supplies for taxable business purposes, they will receive credit for this VAT paid. The broad effect is that VAT is actually borne by the final consumer of a product.
vendor
A supplier of equipment or services. A vendor can be a manufacturer, reseller, distributor, or dealer.
vendor program
An agreement between the lessor and a vendor to create a specific financing program for the vendor's customers who desire financing. The terms and conditions of the vendor program may govern aspects of the deals created as a result of the program.
warrant
A warrant is an option to purchase an equity instrument. Lessors may accept warrants as collateral on deals.
workflow
A complete workflow management system that supports business process definition and automation in Oracle Applications. Typically, workflow is used for contract approval, change requests, and notifications.
workflow attributes
Workflow attributes control the behavior of the workflow.
workflow monitor
The workflow monitor is a Java based tool used for administering and viewing workflow process.
write off
When a contract is deemed uncollectable, the loss is recognized for accounting purposes by charging off future receivables and/or investments.
yield
A measurement of profitability obtained from a series of cash flows. This may represent the lessor's return on invested funds.
90% Test
A Financial Accounting Standards Board (FASB) test, which indicates whether or not 90% or more of the cost of the leased equipment, at lease inception, will be recovered through the present valuation of minimum lease payments using the lessee's incremental borrowing rate.