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Financing Options

Tompkins Robotics offers multiple options for the acquisition of the various t-Sort 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 t-Sort product lines to ensure the best fit for any organization’s financial goals and objectives.

Capital Purchase
Lease
Robots as a Service (RaaS)
Coming Soon
The customer pays for and owns the system
Customer leases the system through a third party with preferred lease rates
Traditional contract with scheduled payments based on project milestones
Any lease payments are deferred until after the final acceptance
Final payment made upon full system acceptance
Lease length can be structured to terms that best fit the customer.  Option for both capital and operating leases – capital lease has right to own for $1 at end of lease, operating lease has right to own for fair market value at end of lease
Customer provides the ongoing non-major hardware maintenance and upkeep
Customer provides the ongoing non-major hardware maintenance and upkeep
On-going costs limited to annual software service, remote support contract, spares inventory and required on-site services not under warranty
Ongoing costs limited to annual software service, remote support contract, spares inventory and required onsite services not under warranty
Provides the greatest flexibility to customer, as customer has exclusive rights to system
Customer still has exclusive rights to system, but modifications would require restructuring of lease

Lease Finance Option

The lease option allows a customer to avoid paying for a t-Sort 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.

Basic Structure
Basic Terms
  • 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.