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| (HP).
| | Ring-fenced financing vehicle. |
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| Hire purchase is similar to a finance lease except that it contains a provision giving the hirer an option to acquire legal title to the asset (once certain contract provisions are fulfilled).
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| A mechanism for gaining the benefits of owning an asset without paying the whole of the purchase price at the outset, but over a period of time.
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| Relevant accounting standards include IFRS 16 and Section 20 of FRS 102.
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| == See also ==
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| * [[Assets]]
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| * [[Finance lease]]
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| * [[FRS 102]]
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| * [[IFRS 16]]
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| [[Category:Trade_finance]]
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Revision as of 16:41, 7 March 2015
Ring-fenced financing vehicle.