Page 20 - CV June-July 2023 Issue

TEREX INDIA, EQARO GUARANTEES

INTRODUCE ASSURED BUYBACK

PROGRAM FOR FRANNA CRANES

erex, a global manufacturer of material processing machinery India for this first in India initiative. Residual value guarantees have
and aerial work platforms has formed a partnership with been a long-standing need of the construction equipment industry.
TEqaro Guarantees, a financial guarantee company to provide Franna Assure will provide guarantee on the Franna range of cranes
'Franna Assure,' a yearly Residual Value Guarantee (RVG) for the for their future value and indemnify the owner against loss, if the sale
range of cranes under the Franna brand.Under the program, Franna of a crane is less than the residual value specified in the guarantee.
Assure will provide surety for buyback value of up to 48 percent at We believe that Franna Assure will help add to the buyer confidence
the end of five-year contract terms to its customers in India. by providing certainty around the residual value and further improve
market penetration.”
The Franna Assure will provide buyback assurance for crane owners
in India, protecting them from losses incurred due to low resale Jaideep Shekhar, MD, Terex India said, “This collaboration will help
values, resulting in further reduced balance sheet risks. Under the in enhancing the experience and satisfaction of our customers in
program, buyers have the added advantage of focusing on core India. Franna Assure will provide customers an opportunity to
competencies by securing services from authorised Franna dealers. upgrade their fleets within 5 years, allowing them access to the latest
The buyback assurance enables customers to upgrade from technology and enabling them to achieve higher capacity with
preceding models and range after completion of the tenure via assured resale value for their Franna cranes, keeping their business
utilising the buy-back value for the purpose of purchasing a new ahead in the competition.” Under the program, Franna Assure will
model with greater capacity. Vikash Khandelwal, CEO, Eqaro provide customers buyback assurance of up to 48 percent for their
Guarantees said, “We are excited about our collaboration with Terex Franna cranes within 3, 4 and 5 years of contract terms.

CONSTRUCTION VISION 18 JUNE-JULY 2023