The indexing clauses included in leasing contracts are the subject of a long dispute between credit institutions and savers due to the indeterminacy of the indexing parameter, but also of the disclosure obligations – relating to the characteristics and risks of the transaction – that the financial intermediary is required to fulfill the borrower. But what exactly are the indexation clauses of the lease payments?
To determine the installment of the fee, many variable rate financial instruments – such as mortgages, loans, loans and leases – rely on a reference financial index called indexing parameter , which is included in a specific contractual indexing clause at the signing of the contract to determine the borrowing rate. Generally, these are indices whose value fluctuates based on the performance of the financial market, such as the Eurirs (Euro Interest Rate Swap) and the Euribor (Euro Interbank Offered Rate). In this way, the fee will be calculated by “indexing” or “discounting” the ordinary amortization of the amount financed at a fixed base rate , or by periodically adjusting – positively or negatively – the value of the base rate to changes in the parameter to the reference parameter. of reference.
The problem relating to the indexation clauses in leasing contracts arises when the financial cost of the transaction is uncertain . The indexed rate is determined in such a complex and opaque manner – as when it is linked to the variation of derivatives, bonds or exchange rates – that it is transformed into a highly speculative financial transaction , often without the knowledge of the saver and with considerable effects on its finances . For this reason, it is essential that each index or reference rate used to calculate the borrowing rate is clear, accessible, objective and verifiable.
The presence of irregularities in leasing contracts is very widespread. For this reason, GMB Finance’s financial analysts and lawyers specializing in banking law can help you identify hidden anomalies in leasing contracts – such as irregular indexing clauses – through a free feasibility study and support you in recovering the interest not due.