Lease document ■ Terms of the lease ■ asset to be leased. a Payments-when and how much? Obligations of lessee and lessor -who pays for insurance. maintenance etc Whether lessee may acquire the asset at the end of the lease Cancellation provisionsLease Document ◼ Terms of the lease. ◼ Asset to be leased. ◼ Payments - when and how much? ◼ Obligations of lessee and lessor - who pays for insurance, maintenance, etc. ◼ Whether lessee may acquire the asset at the end of the lease. ◼ Cancellation provisions