hire-purchase

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hire-purchase

a form of purchase under which the purchase price can be paid over an agreed period of time by instalments. During the period the goods purchased remain the property of the seller (or the hire-purchase company to whom the seller has assigned his rights of ownership); possession is granted to the purchaser (the hirer) by means of a bailment by the seller; property passes when the last instalment has been paid and the hirer exercises the option inherent in the agreement. A hire-purchase agreement is distinguished from a conditional sale agreement in that in the latter property passes automatically when the last instalment has been paid (i.e. there is no exercise of any option to purchase).
References in periodicals archive ?
67 per month for 30 months via its installment plan or for $950 full retail.
With this collaboration, FBL Credit Card customers can convert all purchase transactions made at Dolmen Mall into 0% installment plans for 3 months.
Shariah Compliant installment plan on purchases done through Saadiq Credit Card
This innovative product, which is the first of its kind in the UAE, provides customers with convenient payment terms for courier services based on their preferred installment plan, Advani said.
GMC dealerships in the UAE are currently running a special offer, one that provides buyers with a host of benefits including an installment plan that starts from just AED1,525 per month.
yGDAE[currency]) has launched an installment plan for inflating bills.
LAHORE -- The Lahore Electric Supply Company (LESCO) has issued directives according to which all customers are supposed to pay their full electricity bills every month and facility of installment plan has been withdrawn.
merchant counter to a 0% installment plan for tenures of their choice.
To avail the easy installment plan, customers are requested to call Citiphone Banking service on 17582484.
Highlighting the convenience of the Installment Plan service for Bank Sohar credit card holdA[degrees] ers, R Narasimhan, DGM of retail banking at Bank Sohar, said, "This initiative is not only a great benefit to our customers, but also signals a parA[degrees]adigm shift in the credit card product innovation by Bank Sohar towards cusA[degrees] tomising products to fit client requirements.
In addition, customers can reach their rewards faster by using the Etisalat Mashreq Credit Card and enjoy 0% interest on Easy Installment Plan on all jewellery for 6 monthly installments.
A Ticket Installment Plan has also been introduced to help recession-hit revellers.