A simple finance solution for your technology investment which preserves your cash for your core educational expenditure.
Watch our Schools Leasing Framework video
Why this framework?
There is an increasing awareness of the problems of compliance and value for money with regards to school leasing.
To address such concerns, Link Group, working in conjunction with UK Local Authorities, established the Schools Leasing Framework, a standard, pre-qualified, and fully compliant operating lease facility for the finance of edtech (minimum deal size is £2,000).
Working with the Durham County Council as lead authority, Link Group established a new OJEU tendered framework for the procurement of leasing facilities for educational establishments. This framework was scoped so that it can be accessed by all educational establishments in the United Kingdom.
Department for Education approved framework for schools
Schools can choose from a provided list of checked suppliers and agree the price, specification, terms and conditions
Each separate purchase can be managed into one single lease agreement for the school with Econocom
Separating equipment supply from the operating lease price means transparency of cost and a clear route to value for money
Compliance with The Official Journal of the European Union (OJEU) principles and regulations
Is the framework live?
This framework was renewed on 9th April 2018 and can be accessed by all educational establishments to cater for their ICT and reprographic equipment operating lease requirements. The framework offers IAS 17 compliant operating leases, which can be arranged over 2, 3 and 4 years.
How does it work?
7 simple steps:
You choose the equipment you need and the supplier(s) you want to work with.
Econocom approves your application and sends out contracts for your signature.
Once the contract is signed, Econocom sends you an Invoice Approval Form (IAF) and your chosen supplier a Purchase Order.
The supplier invoices Econocom and delivers the equipment to you.
When the equipment is delivered, you sign and return the IAF to Econocom.
On receiving your signed IAF, Econocom settles your supplier’s invoice
YOU CHOOSE THE EQUIPMENT,
YOU CHOOSE THE SUPPLIER
YOU CONTROL WHEN YOUR SUPPLIER IS PAID.
Econocom & the Education Sector
Today, Econocom currently employs 10,000+ people, has 45 years’ experience, is spread across 18 countries and has 7 million digital assets managed. Econocom is now a recognised European player in the digital transformation of institutions and companies. Its dynamic is based on a unique positioning combining technological expertise with innovative financing. The group thus benefits from both the magnitude of the digital industrial revolution and the underlying trend whereby use is overtaking ownership.
In the UK, we have extensive experience in the education sector. Over the last 7 years, Econocom has assisted over 500 schools and colleges to subscribe to the latest technology solutions for their students and staff.
In 2012, Econocom funded all the Acer PC, laptops and servers used for the London Olympic Games. After the games, we remarketed this equipment into UK education, thereby building on the Olympic Legacy and delivering significant savings to the education sector.
Discover the latest media coverage about the schools leasing framework:
Leasing is a contractual finance agreement where the user (the lessee) rents from the owner of the equipment (the lessor) over a contracted period (the lease term). This preserves the lessee’s cash for use in its core operational activities.
What are the payment options?
Quarterly or annually. Quarterly payment is only permissible in conjunction with a Direct Debit or Standing Order mandate.
What equipment can be leased?
All forms of new technology infrastructure including IT and operating software, tablets, multi-function devices (MFDs), electronic whiteboards and telecoms. Chromebooks excluded.
What type of lease does the framework provide?
All the lease options under the School Framework Agreement have been structured as Operating Leases
Are these leases compliant?
Our operating leases are designed to be IAS 17 compliant with your local authority, as per the Schools Leasing Framework.
Can I work with more than one supplier?
Each lease can accommodate as many suppliers and as many invoices as you wish: one single lease for your entire ICT investment.