(also known as a 'Capital Lease') A lease where the user owns the equipment at the end of the lease period OR Lease term represents more than 75% of the useful life of an asset OR The current worth of future rentals is greater than 90% of the asset's value.
A contract or an agreement, that is effectively a loan to secure the use of a business asset. A form of 'hire purchase' or a 'capital lease' which is similar to raising a loan to buy a car - with the loan secured against the asset.
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