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 ?
Summary: Stratic Energy has entered into a conditional sale agreement in respect of its Kerkouane permit offshore Tunisia (held 100% by Stratic).
If a conditional sale/instalment sale is considered a "sale," GST/HST should be due either at the time the sale occurs or at the time the conditional sale agreement is entered into.
subsidiary has entered into a conditional sale agreement with Leeds Advanced Manufacturing UTC Ltd.
The caravan was subject to a Conditional Sale Agreement with a finance company involving payments of pounds 500 per month.
11 December 2014 - UK-based financial services firm The Co-Operative Bank plc has entered into a conditional sale agreement for the disposal of a portfolio of commercial loans in the renewable energy sector to Universities Superannuation Scheme Ltd L1 Renewables Ltd.
that it has not been able to meet the conditions of the conditional sale agreement by 9 September 2016 for the disposal of the company's Botswana operations to Tango Mining, the company said.
(AIM: CDC) has entered into a conditional sale agreement to sell the entire issued share capital of its CDC Philippines Holdings Ltd.
Hargreaves, which says it expects to report preliminary results on July 31, also pointed to its disposal of Brockwell Energy Limited, the profit on disposal of which will be reported within its discontinued operations, while it has made conditional sale agreements on the first two plots at its key residential development site, Blindwells, near Edinburgh.
The pricing of the Mazda6 has become even more competitive following the new retail offer from Mazda UK, which entitles Mazda6 customers visiting the Hadfield Road showroom to a PS1,000 Mazda Finance Deposit Contribution towards both Personal Contract Purchase (PCP) and Conditional Sale agreements.

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