Other terminology

Other Terminology

  • Residual Value (Greek: Υπολειμματική αξία –ipolimatiki aksia), the value of an asset at the end of a lease period. This value is also called End Value (when referring to the market value of the asset at the end of the lease period) or Balloon Payment (when referring to the agreed purchase option amount).
  • Depreciation: (Greek: Απαξίωση – apaksiosi or Απόσβεση – aposvesi) for tax purposes depreciation is a percentage of the assets value recognized by tax authorities as a business’ expense. Market depreciation is the difference between an assets initial purchase price minus an assets market value at any given time.
  • Leasee or Rentee (Greek: Μισθωτής – misthotis) the recipient of a lease service.
  • Leaser or Renter (Greek: Εκμισθωτής – ekmisthotis) the company or institution providing lease services.
  • Lease Payment or Rent (Greek: Μίσθωμα – misthoma) the amount payed by the Renter or Lessee to the Renter or Leaser for the services rendered.
  • Lease object (Greek: Μίσθιο – misthio) the asset that is included in a lease contract.