1. Concept and essence of leasing

1.1 The concept of leasing and leasing operations

Assumed that leasing is an American invention 50s, which were transported through a decade of American entrepreneurs in Europe and then in Japan. However, many experts do not agree with this view of the history of leasing and argue that economic relations, such lease have been known long before our era.

English terms «leasing», and «lessor» and «lessee» (the part of the leasing agreement) do not have adequate translation into Kazakh language. Many European scientists recognize the difficulty of translating the term "leasing" in other languages ​​. Square "sis" in Greek means dissolution, and English - rent, lease. Therefore, in view of the fact that the term "leasing" already firmly entrenched in everyday life and is used in both domestic and foreign literature, it is impractical, likely to translate it all. The main idea of ​​leasing is that for profit does not necessarily have the means of production owned by, you just have the right to use and monetize.

Therefore, leasing allows entrepreneurs at the time of business formation start production activities, not having a significant capital base.

In theory and in practice, leasing is characterized by the following definitions:

1) A method of lending business;

2) A form of long-term lease;

3) The method of purchase - sale of means of production, or use of another's property;

4) Investment activities.

On the one hand, leasing its content corresponds credit relations (a loan for the purchase of productive assets). The lessor provides the lessee financial service acquiring the property from the manufacturer (seller) for the full cost to the property , and the lessee shall reimburse this cost periodic payments to the lessor , which include , by analogy with the lessor's credit costs for the purchase and maintenance of the property ( the loan amount ) and interest payments on him.

You can also compare the leasing relationship with granting the lessor to the lessee of commercial credit to the contract of sale with installment payment for the property transferred to the leasing, in the form of lease payments.

On the other hand, leasing is closely linked with the leasing mechanism. And in the Civil Code of the Russian Federation lease is treated as a finance lease, and the lease agreement - as a separate subspecies long term lease.

In fact, the totality of all of these definitions best reflects the economic substance of the lease. The combination of both properties of a credit transaction, investment and rental activity forms a new organizational and legal form of business - leasing. In this form, implemented a set of property relations associated with the transfer of the means of production by the temporary use of their purchase and subsequent lease.

Thus, leasing is a complex three-way deal in which the Finance leasing company (lessor) purchases from the company - manufacturer of movable or immovable property and transfers it to the disposal of the company - the tenant - the lessee.

Relationship between the parties leasing transaction can be described as follows: The future lessee needing certain types of property selects the supplier and due to lack of sufficient funds for the purchase of property to the lessor looks to the future with a request for his participation in the transaction. Contract can also be provided that the choice of supplier and the purchased property by the lessor. Lessor for its own or borrowed funds is purchasing this property and preserving the ownership of the leasing transaction, transmits it to the lessee under the lease agreement.

The lessee is entitled to use the acquired property and during the term of the lease shall pay the lease payments in the manner, timing, and form and subject to the conditions stipulated in the leasing contract. There lease transactions that do not fall under several " narrow " definition of the Russian leasing , but are considered to be established in many countries. For example, Russian law is not considered an operation lease deal with property that cannot be used for business purpose, although in other countries, these transactions can be considered leasing. Thus, the concept of leasing has many interpretations, which also depend on the history of development of leasing relations and legislation of each country. Features of the Kazakhstan legislation in respect of the lease will be considered by us further.