- Schools Leasing Framework : What is it ?

There is an increasing awareness of the problems of compliance and value for money with regards to school leasing.

To address such concerns, Link Asset Services, working in conjunction with UK Local Authorities, established the School Lease 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 Asset Services 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 establishment in the United Kingdom.

The Lease process in 7 steps:

You decide the equipment you need and the supplier(s) you want to work with.
Complete the online quotation page – and attach your supplier quote.
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 AND
YOU CONTROL WHEN YOUR SUPPLIER IS PAID.

Today, Econocom currently employs 10,000+ people, has 40 years’ experience, is spread across 19 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 5 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.

What is leasing?

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.

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.

What is the minimum deal size?

The minimum deal size is £2,000.

- Schools Leasing Framework

Why this framework?

Is the framework live?

How does it work?

Econocom & the Education Sector

Media coverage

Frequently Asked Questions

What is leasing?

What are the payment options?

What equipment can be leased?

What type of lease does the framework provide?

Are these leases compliant?

Can I work with more than one supplier?

What is the minimum deal size?

- Schools Leasing Framework

You are here

Why this framework?

Is the framework live?

How does it work?

Econocom & the Education Sector

Media coverage

Frequently Asked Questions

What is leasing?

What are the payment options?

What equipment can be leased?

What type of lease does the framework provide?

Are these leases compliant?

Can I work with more than one supplier?

What is the minimum deal size?