Conditional sales contracts

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Related to Conditional sales contracts: Conditional Sale Agreement

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 ?
Through its international network of 34 offices, Newcourt Credit Group specializes in financing a broad range of equipment and capital assets through secured loans, conditional sales contracts and leases.
The Company has executed conditional sales contracts for sale of the properties it received in connection with two of these credit relationships.
Green Tree is a specialty finance company, originating and purchasing conditional sales contracts primarily to finance the purchase of manufactured homes.

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