Field note · 11 June 2026
Seven questions to ask of an equipment quotation
Equipment quotation checks that strengthen the financial audit of a finance application.
1. Is the equipment unambiguous?
Model, configuration, attachments, condition, year and serial number—where available—should agree across the application and quotation. Generic descriptions make valuation and later identification difficult.
2. What is included in the price?
Separate the machine, VAT, freight, installation, training, consumables and service plans. Not every cost has the same recoverable value.
3. Does the term fit useful life?
A low monthly instalment can conceal a facility extending beyond the asset’s hard-working economic life. Consider duty cycle, maintenance support and obsolescence in the applicant’s actual use.
4. Is the supplier established for this asset?
Confirm company particulars, physical presence, trading history and manufacturer relationship where claimed. A new intermediary is not automatically improper, but it requires a clearer chain of supply.
5. Are payment details stable?
Last-minute bank-detail changes and accounts held in another name require direct verification through an independently sourced contact.
6. Is the applicant connected to the supplier?
Related-party sales can be legitimate, but the relationship, price basis and flow of funds should be visible to the lender.
7. What proves delivery and acceptance?
Define the evidence required before supplier payment: serialised invoice, delivery note, inspection, insurance and signed acceptance as appropriate to the asset.