Terex India Partners With Eqaro Guarantees To Announce ‘Franna Assure'
Manufacturer of material processing machinery and aerial work platforms, Terex, has partnered with Eqaro Guarantees, a financial guarantee company to provide ‘Franna Assure,’ a yearly Residual Value Guarantee (RVG) for the range of cranes under the Franna brand.
Under the program, Franna Assure will provide surety for buyback value of up to 48 per cent at the end of five-year contract terms to Franna owners in India.
‘Franna Assure’ provides buyback assurance for crane owners in India, protecting them from losses incurred due to low resale values, resulting in further reduced balance sheet risks. Under the program, buyers have the added advantage of focusing on core competencies by securing services from authorised Franna dealers.
Vikash Khandelwal, CEO of Eqaro Guarantees said, “Residual Value Guarantees have been a long-standing need of the construction equipment industry. Franna Assure will provide guarantee on the Franna range of cranes for their future value and indemnify the owner against loss, if the sale of a crane is less than the residual value specified in the guarantee. We believe that Franna Assure will help add to the buyer confidence by providing certainty around the residual value and further improve market penetration"
The buyback assurance enables customers to upgrade from preceding models and range after completion of the tenure via utilising the buy-back value for the purpose of purchasing a new model with greater capacity.
Jaideep Shekhar, Managing Director of Terex India said, “Franna Assure will provide customers an opportunity to upgrade their fleets within 5 years, allowing them access to the latest technology and enabling them to achieve higher capacity with assured resale value for their Franna cranes, keeping their business ahead in the competition.”
Via the program, Franna Assure will provide customers buyback assurance of up to 48 per cent for their Franna cranes within 3, 4 and 5 years of contract terms.
