Terex, a global manufacturer of material processing machinery and aerial work platforms, has announced its partnership with Eqaro Guarantees to provide ‘Franna Assure,’ a yearly Residual Value Guarantee (RVG) for the range of cranes under the Franna brand.
A press release from Terex noted that under the programme, buyers can focus on core competencies by securing services from authorised Franna dealers.
‘Franna Assure’ provides buy-back assurance for crane owners in India, protecting them from losses incurred due to low resale values, resulting in further reduced balance sheet risks.
The buy-back assurance will enable customers to upgrade from preceding models and range after completion of the tenure via utilising the buy-back value to purchase a new model with greater capacity.
Vikash Khandelwal, CEO, Eqaro Guarantees, noted that residual value guarantees have been a long-standing need of the construction equipment industry.
“We believe that Franna Assure will help add to the buyer confidence by providing certainty around the residual value and further improve market penetration,” he added.
Jaideep Shekhar, Managing Director, Terex India, said, “This collaboration will help in enhancing the experience and satisfaction of our customers in India.”
‘Franna Assure’ will allow customers to upgrade their fleets within five years, allowing them access to the latest technology and enabling them to achieve higher capacity with assured resale value for their Franna cranes, keeping their business ahead of the competition, he added.