Conditional sales contracts

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Conditional sales contracts

Similar to equipment trust certificates, except that the lender is either the equipment manufacturer or a bank or finance company to which the manufacturer has sold the conditional sales contract.

Conditional Sales Contracts

A sale of an asset in which the buyer assumes possession and may have use of the asset, but the seller retains title until the buyer pays its full price and may repossess the asset if the buyer does not. In exchange for the right to use the asset, the buyer makes payments over an agreed-upon period of time, whether months or years. This arrangement is most common with heavy equipment, machinery, and real estate. See also: Beneficial ownership, Lease.
References in periodicals archive ?
9% APR** finance when purchasing on either Personal Contract Purchase, or Conditional Sale contracts over 36 months.
Hire Purchase & Conditional Sale: Hire purchase and conditional sale contracts are governed by slightly different rules.
Broeren explained further that the series C notes are collateralized by a pool of retail auto conditional sale contracts, the first time that collateral of this type from the U.

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