MINNEAPOLIS — Wolters Kluwer Financial Services announced this week it's now offering captive finance companies, lenders and dealerships universal closed-end vehicle lease agreements for all U.S. states.

The company stated that these lease agreements can help ensure vehicle leases are in compliance with current federal and state-specific regulatory requirements, while also helping simplify leasing and back-office processes.

By relying on Wolters Kluwer Financial Services' standard lease documents, officials stressed that captives and lenders can significantly lower costs associated with monitoring regulatory changes and developing and producing their own lease contracts.

For dealerships, the company contends a universal lease agreement can allow them to simplify and eliminate the programming and inventory costs they incur when using lease agreements from multiple providers.

Management explained its universal close-end vehicle lease agreements are designed to meet Regulation M requirements and any other state and federal requirements on vehicle leasing.

Offered both electronically and in print, Wolters Kluwer Financial Services pointed out that the contracts are suitable for transactions with equal monthly payments or single payment.

Additionally, officials said the contracts can be customizable, allowing captives and lenders the ability to include products and features unique to their leasing programs.

Wolters Kluwer Financial Services emphasized that the contracts are maintained by its compliance experts, who monitor legislative and regulatory changes affecting the indirect lending finance industry in 51 U.S. jurisdictions. The contracts also are protected by limited compliance warranty.

"Our indirect lending business was created to help lenders and dealerships comprehensively address various aspects of regulatory compliance," stated Lee Domingue, chief executive officer of indirect lending at Wolters Kluwer Financial Services.

"This offering is yet another example of that commitment," Domingue continued. "By providing an industry standard for auto lease contracts, we can help lease companies, lenders and dealers simplify the leasing process for their organizations and the customers they serve."

For more information, lenders and dealers can visit www.wolterskluwerfs.com/ilsolutions.