AWS administered Full Maintenance Lease (FML)

AWS’s Full Maintenance Lease (FML) product is a comprehensive automotive solution (fully reinsured) that provides the customer with peace of mind during the vehicle lease period. FML contracts free customers from bearing the cost of service, maintenance, mechanical breakdown, motor accidents, tire replacement and roadside assistance, with an option to have a relief vehicle.

Administered by AWS and offered to leasing institutions and customers who require a one-stop-shopping solution, FML program is a simple way of leasing vehicles at a fixed monthly cost (all inclusive). The program embodies a controlled and cost effective fleet management system, where the time-consuming administration of the fleet is left to the experts, allowing customers to concentrate on their daily business activities.

Once selected by the customers, the leasing/financial institution would source, purchase and deliver the vehicles directly to these customers, who bear no responsibilities for the vehicles’ residual value and who have the option of walking away from the vehicle at the end of the lease contract period. In fact, the vehicle could be returned to the leasing/financial institution for disposal at the institution’s own risk and cost. Accordingly, the only operating cost to the customer would be the cost of the fuel and the premium paid at the time of lease. In return for a set fee paid by the insurer, AWS assumes the hassle involved in running the program, from vehicle acquisition to disposal, as the company administers the risk of maintenance and insurance costs incurred during the contract period.

AWS FML covers all makes of passenger and light commercial vehicles for periods extending from 12 to 48 months. The contract period and mileage are determined in accordance with the customer's vehicle policy and the anticipated usage of the vehicle.