|Information on the audit and reconciliation process
HP Financial Services performs an audit and reconciliation process on every piece of equipment that is returned at the end of the lease. During the physical audit, HP Financial Services Logistics experts capture the serial number, warehouse "in" date and condition of individual units and peripherals for each piece of equipment returned.
Lease contracts typically specify that all equipment shall be returned to Lessor in the same condition and working order as delivered, with the exception of reasonable wear and tear. If, during the audit, we detect damage or excessive wear and tear during the audit process we will bill you for repair costs, not to exceed fair market value.
Examples of reasonable wear and tear
- Light/minor scratches on monitor screen
- Faded lettering on the keyboard
- Minor scratches, fading on the cover or base
- Worn logo
- Removable labels and stickers
Examples of excessive wear and tear
- Cracked lid, frame or case
- Broken hinges or latch
- Suspense resume problems
- System is not bootable or does not power on
- Missing or damaged control panel
- Non-removable labels/stickers (epoxy)
- Monitors - cracked or severely scratched monitor screen - CRT image burn* - no power or no picture
* A burnt screen is a cosmetic imprint in the phosphorous coating of the cathode-ray tube. It is caused by a fixed image or set of characters, persistently displayed on the screen for an extensive length of time. Once this condition exists, it cannot be repaired. This condition is completely avoidable if the equipment is actively used when powered on, or if a screen-saver is employed in instances where active usage of the equipment is intermittent while the unit is left on. Because the condition of a burnt CRT is avoidable, it exceeds the bounds of reasonable wear and tear.
If units are received damaged or with peripherals missing, we will bill the lessee to recover the cost of replacement. The charge for missing and damaged units will be the replacement cost, but will not exceed the fair market value of the units.
HP Financial Services performs a low level format (LLF), which outlines and writes the tracks and sectors of the disk. The LLF scans for existing defects, and formats while marking or remarking manufacturer defects, running a surface analysis Even though HP Financial Services performs the LLF, please remember that before returning any disks it is your responsibility to erase all data.