The Schools
Leasing Framework
A simple finance solution for your technology investment
which preserves your cash for your core educational expenditure.
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, MUFG Corporate Markets, working in conjunction with UK Local Authorities, established the Schools Leasing Framework, a standard, pre-qualified, and fully compliant residual based lease facility for the finance of EdTech (minimum deal size is £2,000).
Working with the Durham County Council as lead authority, MUFG Corporate Markets established a new Find a Tender (FAT) 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.
Schools choose their own supplier 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 lease price means transparency of cost and a clear route to value for money
Compliance with Find a Tender (FAT)
How does it work?
1 - You choose the equipment you need and the supplier(s) you want to work with
2 - You complete the ‘submit your request page’ and attach your supplier quote
3 - Econocom approves your application and sends out contracts for your signature
4 - Once the contract is signed, Econocom with issue your chosen supplier/s a Purchase Order
5 - The supplier invoices Econocom and delivers the equipment to you
6 - When the equipment is delivered, Econocom will issue you with an Invoice Approval Form (IAF), for you to sign and confirm receipt of the Equipment detailed in the supplier/s invoice/s
7 - On receiving your signed IAF, Econocom settles your supplier/s invoice/s and the lease goes live
Key figures
of IT equipment processed
schools and colleges equipped
satisfaction rate
Media coverage
Frequently asked questions
Is the framework live?
This framework was renewed on 1st June 2022 to 31st May 2026 and can be accessed by all educational establishments to cater for their ICT and reprographic equipment operating lease requirements. The framework offers IFRS 16 compliant residual based leases, which can be arranged over 2, 3 and 4 years.
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. Chromebooks excluded.
What type of lease does the framework provide?
All the lease options under the School Framework Agreement have been structured as residual based lease
Are these leases compliant?
Our leases are fully compliant with the IFRS 16 Maintained Schools Finance Lease Class Consent 2024.
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.