Simple Vendor Process

The Lease Process Step By Step

STEP 1

Lessee (your client) selects the equipment.

STEP 2

The vendor (you) submits an application, either online or via fax. You also can call Millennium with the required information for fast and accurate results. The application must be complete, accurate and legible.

STEP 3

Millennium conducts a credit investigation and evaluation. We will consider the lessee's business credit history, the credit history of the principals, the industry, the equipment requested and the desired payment terms.

STEP 4

Once a credit decision has been reached and the transaction approved, Millennium will convey approval, including all major terms and conditions, to the vendor.

STEP 5

After the vendor has been advised of an approval, you will be asked to issue either an invoice or an equipment order form detailing both the exact equipment information and the cost. Once Millennium receives this information, we will generate the actual lease documents and send them either to the vendor or the lessee via e-mail, fax or overnight courier.

STEP 6

Upon receipt of properly executed lease documents and the check for advance rentals and/or security deposits, Millennium will issue a purchase order to the equipment vendor or supplier. Once the purchase order is received by the vendor, the equipment can be delivered.

STEP 7

Immediately following equipment delivery and installation, lessee will be contacted and asked to verbally verify equipment acceptance, confirm their understanding of the lease terms, and authorize payment to the vendor. Once all terms and conditions of the approval are met, the vendor receives a check via overnight courier or ACH (automated clearinghouse).*

*For transactions over $5,000 only.
Regular mail will be used for all transactions under $5,000 unless prior arrangements were made with the vendor.