Tompkins Robotics offers multiple options for the acquisition of the various tSort™ systems. We offer capital sales to own a system, lease options and coming soon, a Robot as a Service (RaaS) plan for customers that want to rent a system indefinitely. We offer a wide range of options for the tSort product lines to ensure the best fit for any organization’s financial goals and objectives.
Lease Finance Option
The lease option allows a customer to avoid paying for a tSort system as a capital purchase. This conserves initial cash, spreads the cost over years, and allows ownership at the end of the lease. Tompkins lease program is explained below.
- Tompkins executes a Statement of Work with the customer
- Tompkins executes an agreement with the lease firm to get paid in a traditional contract manner with scheduled payments based on project milestones
- Customer executes an agreement for the actual lease of the system with the lease firm
- Customer lease payments do not begin until after acceptance of system
- Operating lease allows system purchase for Fair Market Value at end of lease or return to lessor
- Capital lease assumes $1 buy out at end of lease
- Lease covers all assets, software, and services through go live
- Annual software service, remote support contract and required onsite services not under warranty are not included in lease
- Customer still has exclusive rights to system, but modifications would require restructuring of lease
- Lease can be for 3, 5, or 7 years and can be customized if mutually agreed
- Customer does not start monthly lease payments until system is accepted as per the Statement of Work executed with Tompkins
- Interest rates are historically low and based upon credit rating of the customer
- Expansion of a leased system is negotiated and can be a lease or capital purchase
- Customer provides the ongoing non-major hardware maintenance and upkeep, spares inventory
Note: Determination of how to treat the lease from an accounting standpoint is up to your accounting/finance team.