Glossary

Also called a capital lease. Typically, has a higher monthly payment compared with a FMV lease. At the end of term, the lessee purchases the equipment for $1. Often used when a business plans to keep equipment for a long period of time, or when obsolescence isn’t a concern.

An acronym for Application Programing Interface. It is a set of defined rules that allow computers or applications to understand each other and distribute data. For example, instead of opening multiple different web applications, you could access all of them at once with a single connected portal.

Also known as a $1 buyout. Typically, has higher monthly payment compared with a FMV lease. At the end of term, the lessee purchases the equipment for $1. Often used when a business plans to keep equipment for a long period of time, or when obsolescence isn’t a concern.

An acronym for Fair Market Value. Also known as an operating lease. The lessee uses the asset for a fixed term with a fixed rental payment. At the end of the term, the lessee has the option to buy the equipment at its then current fair market value, return the equipment or extend the agreement for an additional term.

A leasing company which is not affiliated with an equipment manufacturer or bank.

The National Association for Information Destruction is the standard-setting body for best practices in secure data destruction. NAID AAA Certification verifies data destruction services are in compliance with all known data protection laws through scheduled and surprise audits by trained, accredited security professionals, fulfilling customers’ regulatory due diligence obligations.

The National Institute of Standards and Technology (NIST) developed guidelines for media sanitization. The NIST 800-88 is a document that provides methodical guidance for erasing data from electronic storage media. Conforming to NIST 800-88 guidelines requires proper documentation of data destruction which is  more commonly known as a Certificate of Destruction.

Also known as a FMV or Fair Market Value lease. The lessee uses the asset for a fixed term with a fixed rental payment. At the end of the agreement, the lessee has the option to buy the equipment at its then current fair market value, return the equipment or extend the agreement for an additional term.

Residual value is an estimated value of an asset at the end of the lease term or at some other predetermined date.

CSI’s quarterly leasing program that allows customers to order various quantities of assets from multiple vendors. Customers typically have a 90-day window each quarter to order what they need. After the period, all items are consolidated on a Certificate of Acceptance.