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A novated lease is a motor vehicle lease which has been novated, that is, the obligations in the contract have been transferred from one party to another.. A lease is novated with a three way agreement (Deed of novation) between the lessee, the lessor (usually a finance company), and a third party, under which all parties agree that the third party will take on some or all of the lessee's ...
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As a finance broker, Stratton Finance offers clients a range of finance products, including Finance lease, Commercial Hire Purchase, Chattel mortgage, Novated lease, Fully Maintained Novated Lease, Consumer Loan and Personal Loans. While predominantly focused on vehicle finance, Stratton Finance also offers finance for a range of different ...
Novation is a common practice for design and build construction projects, where a design team is initially appointed by the client to undertake initial studies or prepare a more detailed design, but then when a contractor is appointed with a brief to complete the design and construct the building, the design contract is novated to the ...