ALTEC trial equipment rental policy
main principles:
1 . ALTEC trial equipment is invested by soxal provided that is a clear and definitive prospect in Asia-Pacific.
2.Soxal invoices all costs of ownership to the affiliate carrying out the trial.
3.When the final customer accepts to by or to rent the equipment, an outright transfer of asset will be effected (with/without markup to ensure tax compliance) from soxal to the related affiliate.
Per ALTEC's business model, initial transaction is made between soxal (Assignor) and affiliate 1 (Transferee). When affiliate 1 is done with the trial, the asset is refurbished, audited and :
1. If there is no immediate user, stored in affiliate 1 warehouse, If there is no identified prospect. the affiliate 1 can decide to transport back the unit to soxal, costs being borne by affiliate 1.
2.If there is a second affiliate setting up a trial, transferred directly to affiliate 2 who becomes the transferee ( affiliate 1 the "Assignor")
ALTEC accompanies Soal and the affilates during the whole transaction process and arbitrates in case of dispute. In the unlikely event that no more tests are to be carried out and the asset will not ve sold to any customer but the NBV is not nil, ALTEC APAC commits to purchasing the asset Soxal