Common Contracts
2 similar Hire Purchase Agreement contracts
Hire purchase agreement format pdfHire Purchase Agreement • June 5th, 2023
A type of arrangement when purchasing expensive goods or services Hire purchase agreements are used as an arrangement when purchasing expensive goods or services. The purchaser will pay the initial installment or down payment at the beginning, followed by additional payments in the future to pay off the remaining balance of the good, plus interest. In the U.S., hire purchase agreements are often referred to as installment plans. Such agreements are commonly used to purchase assets that a customer would typically forgo due to their high price. The consumer can “hire” the goods for rent on a periodic payment schedule plus interest until they can become the full owner by paying off their debt. In some cases, when the good is paid off, the purchaser will still not secure ownership rights. There may be a final, previously agreed-upon fee that must be paid before the title is transferred to the buyer. Other similar financing programs include never-never and rent-to-own. Benefits of Hire Purc
Hire purchase agreement docHire Purchase Agreement • May 25th, 2023
This agreement is drafted in favour of the hirer and includes clauses relating to delivery, warranty, title and payment. Download Word Doc DRAFT OF HIRE AND PURCHASE AGREEMENT This Agreement is made at ... this ...
