Our Technology-as-a-Service subscription payment program is not a lease for two primary reasons – outcome and performance. First, the outcome of almost all leases is one of ownership. TaaS is specifically designed to be a use-based program and does not result in ownership. Second, under a lease, you will be obligated to pay every single payment regardless of how your solution needs might change or how technology options might advance. You are literally locked into the technology and the complete payment stream. The performance of a lease is therefore very rigid. By contrast, Our TaaS subscription provides you with the greatest level of flexibility to change your solution at any time and have any remaining payments from the original subscription term forgiven. Learn more about this industry-exclusive benefit called the Solution Replacement Guarantee.

The Solution Replacement Guarantee (SRG) is exclusive to our TaaS subscription programs. It provides customers with a remarkable degree of flexibility and control to address changing technology needs. From the very first day of their as-a-service subscription until the end of the term, and throughout any renewal term, this feature will allow customers to change their technology solution without financial penalty. This means customers can replace the original solution and subscription with a new one at any time without being responsible for monthly payments that may still exist on the original term and without the usual financial challenges of a new solution. This is a powerful advantage over every other way to pay for technology solutions.

The Act of God coverage is an insurance deductible reimbursement protection feature for damage to their technology-as-a-service solution caused by incidents like lightning strikes, floods, and other natural disasters. If a customer experiences damage to their solution as a result of such perils, the Act of God coverage will reimburse their insurance deductible expense up to a maximum of $5,000 per contract term. To be clear, this is not the insurance that covers the equipment, it is an insurance deductible reimbursement feature.

There is no interest rate associated with our Technology-as-a-Service subscription payment program because this is a subscription service. Payments do not result in owning any equipment associated with the solution. It is like asking what is the interest rate associated with a Netflix subscription. Another way to understand why there is no interest rate is to consider a home purchase versus a rental. If you are making monthly mortgage payments on a home purchase, your mortgage loan will have a clearly identified interest rate and once all payments are made, you will own the home. However, if you rent the very same property rather than purchase it, you will make monthly rental payments. And regardless of how many payments you make, you will never own the property, and there is never an interest rate associated with the rental payment/rental agreement. You simply have use of the property while you continue to make monthly payments.