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 ?
But just like AT&T, it also offers the phone via a zero-downpayment installment plan, but it requires clients to pay $38.34 monthly for two years. 
The device is exclusively available at Ooredoo to existing and new customers on any Shamel installment plan.
Golf membership at the Royal Golf Club is now more easily affordable with the introduction of a monthly installment plan. Under the terms of the plan golfers can become members of the 9 hole par 3 Wee Monty course for BD56 per month or of the 18 hole Montgomerie championship course from BD105 per month.
Faysal Bank Limited (FBL), one of the leading banks in Pakistan, together with Dolmen Group yet again has stepped forward to offer the first ever 0% installment plan for Faysal Bank Credit Cards customers.
- Saadiq Installment Plan with zero processing charges
The CJP said that NAB provided installment plan for culprits after cutting a deal with them.
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all customers are supposed to pay their full electricity bills every month and facility of installment plan has been withdrawn.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 promote easy and convenA[degrees] ient use of credit cards facilities, with the additional benefits of an exclusive repayment scheme, Bank Sohar has announce its 'Installment Plan' service.