All leased equipment is owned by Alleasing Finance Pty Ltd and rented by the University for the lease period. However, the University is obligated by contract to replace any lost or stolen items of equipment and repair any damage. The general University insurance policy and claims procedure relating to damage, loss or theft applies to all leased equipment with all claims made through the Risk Management Office.
Replacement equipment due to loss or theft becomes the property of Alleasing Finance Pty Ltd. The Leased asset management system must be updated with the new details as soon as possible.
It is not mandatory to replace lost or stolen equipment. At end of the lease term a substitute of the same or better specification will need to be provided or the University will be billed for the then market value of the missing equipment.
Prior to replacing leased equipment which has been lost or stolen, consideration of the most economic option must be undertaken. For assistance please refer details to .