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 ?
Upon satisfaction of the due diligence investigations and securing state regulatory approval, NMI will conclude its due diligence investigations and ink a Conditional Sales and Purchase Agreement.
Newcourt originates the financing of a broad range of equipment and capital assets by way of secured loans, conditional sales contracts and financial leases.
The acquisition was completed after XL secured the unanimous consent required for the conditional sales purchase agreement from the Ministry of Communication and Information Technology; approval from XL shareholders.
AeroLloyd is also a national, diversified financial service company that originates conditional sales, loans and leases.
The acquisition follows receipt of unanimous consent by XL, which is a must for the conditional sales purchase agreement.
5 million of conditional sales agreements due to Input/Output Inc.

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