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Definition Of Leasing

Definition of Leasing

Lease may be defined as a contractual arrangement in which a party owning an asset provides the asset for use to another, the right to use the assets to the user over a certain period of time, for consideration in form of periodic payment, with or without a further payment.

[Post Image Courtesy of CoolDesign at FreeDigitalPhotos.net]

According to the equipment leasing association of UK definition, leasing is a contract between the lesser and the leaser for hire of a specific asset selected from a manufacturers or vender of such assets by the lessee. The leaser retains the ownership of the asset. The leassee pass possession and uses the asset on payment for the specified period.

About Author Mohamed Abu 'l-Gharaniq

when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries.

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