As afirst-of-its-kind buyback assurance, Terex has announced its partnership withEqaro Guarantees, India’s first financial guarantee company to provide ‘FrannaAssure,’ a yearly Residual Value Guarantee (RVG) for the range of cranes underthe Franna brand. Under the program, Franna Assure will provide surety forbuyback value of up to 48 per cent at the end of five-year contract terms toFranna owners in India.
Under theprogram, buyers have the added advantage of focusing on core competencies bysecuring services from authorized Franna dealers. The buyback assurance enablescustomers to upgrade from preceding models and range after completion of thetenure via utilizing the buy-back value for the purpose of purchasing a newmodel with greater capacity
VikashKhandelwal, CEO, Eqaro Guarantees said, “Residual Value Guarantees havebeen a long-standing need of the construction equipment industry. Franna Assurewill provide guarantee on the Franna range of cranes for their future value andindemnify the owner against loss, if the sale of a crane is less than theresidual value specified in the guarantee. We believe that Franna Assure willhelp add to the buyer confidence by providing certainty around theresidual value and further improve market penetration.”
Jaideep Shekhar,Managing Director, Terex India Pvt. Ltd. said, “‘Franna Assure’ willprovide customers an opportunity to upgrade their fleets within five years,allowing them access to the latest technology and enabling them to achievehigher capacity with assured resale value for their Franna cranes, keepingtheir business ahead in the competition.”
Via the program,Franna Assure will provide customers buyback assurance of up to 48 per cent fortheir Franna cranes within 3-, 4-, and 5-years of contract terms.