Leasing

Leasing

Agreement by which a party (licensor) grants to the other (user) an asset for consideration, for a specified period of time, at the expiry of which the party who has the asset can return it or become its owner, paying the difference between the amount already paid and the value of the asset. It is an atypical agreement that contains the elements of several typical agreements, such as leasing and sale with instalments subject to ownership. There can be countless contractual arrangements given that the renewal of the contract can be envisaged upon expiry, the replacement of the asset, the execution of a new contract with new conditions, etc.


Contracts