DISTINCTION BETWEEN LOANS AND LEASES For financed equipment the ACORD 23 form shows the lender/lessor only as lender s loss payee as there is no interest in liability exposure on finance contracts. The New ACORD 23 allows lenders/lessors of both standard equipment and vehicles to use a single form that provides ALL necessary insurance information on ONE document making the process of providing proof of sufficient coverage much more efficient. ACORD 23 SIMPLIFIES INSURANCE DOCUMENTATION FOR...
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