Farm Credit Canada said the company that took over its leasing portfolio last summer is honouring the same terms and conditions as when FCC held the contracts.
FCC sold the portfolio to RCAP Leasing. Some customers have expressed concern that they are now unable to buy out equipment leases early in the same way they did before.
RCAP Leasing did not reply to a request for more information.
FCC said customers were notified of the sale before it was completed and all contracts are non-cancellable.
“RCAP Leasing and the customer are bound by the same terms and conditions of the leases as when they were executed with FCC,” the corporation said in an emailed statement. “Customer questions with respect to leases should be directed to RCAP Leasing.”
