Terms of Use

Lease Rater provides automated accounting-support tools which may, depending on the product selected, include:

• estimating an obtainable borrowing rate (OBR) or incremental borrowing rate (IBR);
• present-value calculations;
• initial lease liability calculations;
• right-of-use asset calculations;
• amortisation schedules;
• depreciation schedules;
• current and non-current liability analysis;
• balance-sheet and profit or loss summaries;
• ready-to-adapt journal-entry templates;
• draft disclosure-note templates;
• PDF reports;
• CSV and other data exports; and
• supporting documentation for management, finance teams and professional advisers.

We may update, improve, replace, limit or discontinue features. Where practicable, we will communicate material reductions to paid functionality reasonably in advance.

We will provide the Service with reasonable skill and care. This does not mean that outputs will be appropriate for every entity, lease or accounting judgement, or that they will be accepted by an auditor.

Outputs are generated from user-supplied information using standardised assumptions, methodology and market references. Outputs are estimates and accounting-support materials only.

Each report reflects the inputs, methodology, assumptions and market-reference information applicable when it was generated. We are not obliged to update an existing report because market data, accounting guidance, methodology or the Service subsequently changes. Generating a new report with revised inputs will produce a separate report and, for paid users, will consume a credit in the ordinary way.

Outputs do not constitute or guarantee:

• a binding loan offer;
• that finance is available;
• that a rate is obtainable from any lender;
• auditor approval or acceptance;
• that any particular accounting treatment is correct;
• an audit opinion or audit assurance;
• legal, tax, investment, lending, valuation or regulated financial advice.

Management remains responsible for the accounting judgements applied by the relevant entity. Advisers and auditors remain responsible for their own review and conclusions. Complex, unusual or material transactions may require additional advice.

Lease Rater is designed to apply its stated methodology consistently to the information supplied, but outputs remain dependent on the completeness and accuracy of user inputs, applicable assumptions, market conditions and the circumstances of the relevant entity and lease.

The Service is designed to support accounting work under FRS 102, including the revised lease-accounting requirements effective for periods beginning on or after 1 January 2026, where applicable.

Use of Lease Rater does not by itself establish compliance with FRS 102, prove compliance, guarantee auditor acceptance, or mean that the calculated rate is the only acceptable rate. References to a "lessee's obtainable borrowing rate" describe the rate estimated by the Service by applying Lease Rater's methodology to the information supplied. "OBR" is used by Lease Rater as a convenient abbreviation and is not represented as a separately defined or branded methodology under FRS 102.

You are responsible for:

• providing complete, accurate and not misleading information;
• checking inputs before submission;
• reviewing outputs before relying on them;
• applying professional judgement;
• obtaining additional advice where needed;
• ensuring that you have authority and the legal right to submit the data you provide;
• keeping copies of records you need for accounting, audit, regulatory or internal purposes; and
• using reports only for permitted purposes.

Lease Rater does not independently audit or verify user-supplied financial information.

You must keep your login credentials confidential and not share accounts except through any authorised multi-user functionality that we make available. You are responsible for activity on your account unless it results solely from our own security failure.

You must notify us promptly if you suspect unauthorised access or compromise. We may require password resets, additional verification, or suspend access where reasonably necessary because of security risk, misuse, payment issues or legal requirements.

You must not:

• use the Service unlawfully, fraudulently, harmfully or misleadingly;
• attempt unauthorised access to accounts, systems or data;
• bypass access controls or payment controls;
• scrape or extract data in bulk outside authorised exports;
• reverse engineer the Service except to the limited extent that applicable law cannot lawfully restrict it;
• carry out unauthorised security testing;
• upload malware or interfere with the availability, integrity or security of the Service;
• use systematic extraction or benchmarking to build a competing model;
• misrepresent outputs as a loan offer, audit opinion, valuation, credit rating or guaranteed conclusion;
• remove legal notices; or
• share credentials outside authorised use.

You retain ownership of the information you submit to the Service.

You grant Lease Rater a limited licence to host, store, copy, process, transmit and use that information only as reasonably necessary to operate, secure, support, diagnose and improve the Service, generate reports and exports, and comply with legal obligations, in each case in line with these Terms and the Privacy Notice.

We do not receive any broad right to exploit your financial information for unrelated commercial purposes.

We process personal data as described in the Privacy Notice.

Where you submit personal data relating to your own clients, employees, directors or other individuals, you are responsible for ensuring you have an appropriate lawful basis and have provided any required privacy information.

The Service is designed to collect and process entity-level business and financial information: specifically company identity and registration details, financial statement data, and lease and asset terms. It does not require, expect or request identifiable personal data about employees, directors, landlords or other third-party individuals.

You must not enter identifiable personal data about third-party individuals in the lease description field or elsewhere in the Service. If you nonetheless submit such data in breach of this restriction, responsibility for that submission rests with you. This is a breach of these Terms and is covered by the indemnity in the "Indemnity" section below.

Since the Service is not designed to collect identifiable third-party personal data in ordinary use, Lease Rater does not expect to act as an Article 28 data processor of such data in the ordinary operation of the Service.

Lease Rater and its licensors own or control all intellectual property rights in the website, application, software, source code, branding, text, templates, model design, methodology, calibration, scoring architecture, non-public thresholds, databases, report design and other proprietary materials.

No ownership rights are transferred to you except for the limited rights expressly granted in these Terms.

Subject to these Terms, you receive a non-exclusive, perpetual, worldwide, royalty-free licence to use, reproduce and disclose generated reports and exports for the permitted purposes described below. The licence is non-sublicensable except to the expressly permitted recipients listed here.

Permitted purposes include:

• internal accounting records;
• audit working papers;
• board or management reporting;
• group finance and governance processes;
• compliance, regulatory and statutory reporting; and
• providing accounting, audit, tax, legal or financial-reporting services to the organisation or client for whom the report was generated.

You may also provide reports confidentially where reasonably required to:

• directors;
• group finance functions;
• auditors;
• accountants;
• tax advisers;
• legal advisers; and
• regulators, courts or other authorities.

Those permitted professional recipients may retain copies where required for their own professional, legal, regulatory or audit obligations.

Without our written permission, you must not sell reports as a standalone product, sublicense them, publicly publish them, use them as promotional evidence that lender finance is available, represent them as a credit rating or audit opinion, use them to reverse engineer proprietary methodology, systematically recreate the model, or white-label them for resale.

Confidential Information means non-public information disclosed by or on behalf of a party which is marked confidential or which a reasonable person would understand to be confidential from its nature and the circumstances of disclosure, including proprietary methodology, calibration, source code, security arrangements, credentials, business operations and commercial terms.

Each party must keep the other's Confidential Information confidential and use it only for the purpose of performing or receiving the Service.

This obligation does not apply to information that: is public other than through breach; was already lawfully known before disclosure; is lawfully received from another source free of restriction; or is independently developed without misuse.

Each party may disclose Confidential Information to: employees and contractors who need to know for the purpose of performing or receiving the Service, on equivalent confidentiality terms; professional advisers bound by professional duties of confidentiality; hosting, infrastructure or service providers under confidentiality obligations; or authorities, regulators or courts where disclosure is legally required.

Not every visible element of a generated report is confidential or a trade secret.

Lease Rater currently offers free previews, one-off paid calculations and pay-as-you-go credit purchases, including individual credits and multi-credit packs. No subscription is currently required unless we clearly introduce one later.

Prices will be displayed inclusive or exclusive of VAT as stated at checkout. VAT will be charged where legally applicable. Payment is due at the time of purchase. Card payments are processed by Stripe or another payment provider identified at checkout. Lease Rater does not need to store your full card details in order to provide the Service.

Purchased credits may be used at any time during the validity period stated before purchase. That validity period cannot be shortened retrospectively. Credits have no cash value and cannot be transferred or resold. If the paid Service is permanently discontinued, customers will receive a reasonable opportunity to use remaining credits or a pro-rata refund of the unused portion. If termination is caused by a customer's serious breach, fraud or payment reversal, unused credits may be cancelled.

A credit is normally treated as used when:

• a paid calculation is successfully generated for your account; or
• a saved preview report is unlocked using a credit.

If payment succeeds but the purchased credits or report are not provided because of a verified technical fault, we will investigate and correct the issue, which may include restoring credits, regenerating the report or issuing an appropriate refund or credit.

If duplicate charges or duplicate credit deductions arise from a verified technical fault, we will correct them. Any validity period or expiry applying to unused credits will be stated at purchase or on the pricing page.

Completed, successfully generated digital reports are normally non-refundable, subject to applicable law.

This does not affect refunds, credits or other corrections where payment was taken but the purchased report or credits were not provided because of a verified service error. A difference of professional opinion regarding an output, or an auditor's decision not to accept it, does not by itself establish that the Service was defective where the Service correctly applied its methodology to the information supplied.

We may request information reasonably required to investigate a refund or service-failure request.

The Service is provided on an as-available basis. We do not guarantee uninterrupted availability.

We may carry out maintenance, updates, methodology changes, market-data updates, security changes or emergency suspensions. Interruptions may also arise from hosting, infrastructure or dependency failures outside our reasonable control.

You should download and retain each report promptly. Account storage is provided as a convenience and is not a substitute for your own accounting-record retention obligations.

The Service may depend on third-party hosting, infrastructure, database, payment, market-data, public-reference-data and software-library providers. Those services can change or become unavailable from time to time.

We remain responsible for operating Lease Rater with reasonable care, but some interruptions or limitations may arise from matters outside our reasonable control.

Neither party will be in breach of these Terms, or liable for delay or failure to perform any obligation, to the extent that the delay or failure is caused by a Force Majeure Event.

A Force Majeure Event means any event outside a party's reasonable control, including: infrastructure or cloud-platform outages; internet or telecommunications failures; cyberattacks or security incidents not caused by that party's failure to take reasonable security measures; acts of government, legislation or regulation; fire, flood, earthquake or other natural disaster; pandemic or epidemic; or failure of a critical third-party supplier or dependency.

If a Force Majeure Event occurs: (a) the affected party must notify the other as soon as reasonably practicable; (b) the affected party must take reasonable steps to mitigate the effect and resume performance; (c) affected obligations are suspended only for the duration of the event; and (d) payment obligations already due are not excused by a Force Majeure Event.

Except as expressly stated in these Terms and to the fullest extent permitted by law, the Service is provided without additional warranties, conditions or representations, whether express or implied.

Lease Rater does not warrant that the Service will be uninterrupted, error-free, suitable for every entity or transaction, accepted by any auditor, or capable of demonstrating that finance is available at a particular rate.

Nothing in these Terms excludes or limits liability for death or personal injury caused by negligence, fraud or fraudulent misrepresentation, or any other liability that cannot lawfully be excluded or limited.

To the fullest extent permitted by law, Lease Rater will not be liable for:

• indirect or consequential loss;
• loss of profits, revenue, anticipated savings, business, opportunity or goodwill;
• loss arising from inaccurate, incomplete or misleading user inputs;
• loss arising from reliance on outputs as a loan offer, audit opinion, valuation, credit rating or substitute for professional judgement;
• loss arising from your failure to retain records you require; or
• loss caused by events outside our reasonable control.

To the fullest extent permitted by law, Lease Rater's total aggregate liability arising out of or in connection with the Service or these Terms will not exceed the amount paid by you (if any) for the service during the twelve months before the event giving rise to the claim.

You will indemnify Lease Rater against third-party claims to the extent they arise from:

• unlawful or infringing material submitted by you;
• your lack of authority to provide submitted data;
• infringement of third-party rights by submitted material;
• prohibited use of the Service; or
• your material breach of the acceptable-use obligations in these Terms.

We will give prompt notice where reasonably practicable, provide reasonable cooperation at your cost, and will not admit liability or agree a settlement that imposes material obligations on you without your consent, not to be unreasonably withheld or delayed. We may retain reasonable control of the defence and settlement strategy.

You may stop using the Service at any time.

We may suspend or terminate access where reasonably necessary for material breach, non-payment, fraud, security risk, unlawful use, repeated misuse, legal or regulatory requirements, or discontinuation of the Service. Where practicable, we will normally give notice first.

On suspension or termination:

• access to your account may end;
• generated reports may later cease to be accessible, so you should download the records you need;
• we may retain records needed for legal, regulatory, fraud-prevention, dispute, accounting or security purposes;
• unused credits will be dealt with in accordance with the "Fees, credits and payment" and "Refunds and failed service" sections and any applicable law; and
• provisions relating to intellectual property, confidentiality, liability, accrued rights and permitted retention continue to apply.

We may update these Terms for legal, product, security, operational or clarification reasons. Where appropriate, we will notify material changes.

Changes will not retrospectively alter the essential commercial terms of an already-completed one-off report purchase.

We may give notices through the website, your account, or the email address registered to your account. You must keep your contact details current.

These Terms, together with any order or checkout terms expressly incorporated at the point of purchase, set out the entire agreement between you and Lease Rater in relation to the Service.

If any provision is unenforceable, the remaining provisions remain in effect. A failure to enforce a right is not a waiver. You may not assign or transfer your rights or obligations without our consent. We may assign or subcontract our obligations provided this does not materially reduce the protections available to you.

Nothing in these Terms creates a partnership, joint venture, employment relationship or agency relationship. Professional advisers and other permitted recipients may use reports only to the extent allowed by the report licence above, but do not gain general rights to enforce these Terms unless the law requires otherwise.

A person who is not a party to these Terms has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any provision of them. This does not prevent auditors, accountants or other permitted recipients from retaining and using reports under the report licence in the "Licence to use generated reports" section.

These Terms are governed by the law of England and Wales, and the courts of England and Wales have exclusive jurisdiction, subject to any mandatory law that applies.

For complaints, service issues or questions about these Terms, contact info@leaserater.co.uk.

We will aim to investigate and respond within a reasonable period.