Termination And Completion Of Hire Purchase Agreement

15. The ownership or ownership of the company on these machines and installations is not affected during the term of this contract and the lessee is considered the lease with all the obligations and obligations of a baileee in law until the lessee exercises his purchase option, which are provided below. 11. The tenant proposes to.. and agrees and undertakes not to collect them at any other location without the prior written consent of the company. The lessee shall not remove the license plates attached to the machine for the purpose of identifying the ownership of the company during the term of this contract. 25. The lessee has the possibility to purchase the machines and equipment mentioned and the option is exercised by notifying it one month in advance. The call option may be exercised from the date of expiry of the defined period of this contract or from an earlier date. In the first case, the lessee is obliged to pay the company an amount equal to the rental purchase price of the machinery and equipment referred to in clause (3), less the total amount of the payments or rupees paid up to that date, whichever is greater. In the latter case, if the purchase option is exercised before the expiry of the term of the contract, the tenant is obliged to pay an amount equal to the mentioned rental purchase price or the balance thereof, which must be paid in monthly instalments of the rental fee until the date of the agreed term of the contract in an amount equal to two-thirds of an amount, which calculates at the purchase of rental the same share as the balance of the purchase price of rental which is not due until then to the rental purchase price. The right to terminate lease purchases describes what creditors and debtors can do to terminate a lease that is sometimes referred to as a conditional sale.3 min read This information explains what leases (HP) and conditional sales agreements are. It informs you of your rights if you wish to terminate the agreement and the rights of the lender if you do not pay.

The one-third rule means that if one-third or more of the total amount due is paid, the goods become „protected goods“. In the event of non-payment on that date, the natural or legal person who is the creditor must receive an order from the judicial system refining that the goods must be returned. If you cannot pay, you can accept the withdrawal. Once the third payment has been made, the creditor cannot show up and accept the goods without the order. If the creditor withdraws without an order, you are entitled to a refund of the money you paid under the agreement. If the buyer has to terminate the contract, there are two possibilities: if you have trouble stopping refunds for a rental purchase or a conditional sales contract, it may be better for you to terminate the contract yourself. This limits the amount you owe. Once you are late in repayments, the lender may terminate the agreement and you may end up wearing more.

The right of termination for purchase describes what creditors and debtors can do to terminate a lease purchase agreement sometimes referred to as a conditional sale. When buying a car, a lease purchase (HP) allows the buyer to pay a bill in advance and pay the rest over a set period of time. The buyer does not have to buy the car directly, but must pay the interest rate of the rental purchase. Once the final payment is made, the buyer owns the car. If the buyer does not continue payments, the creditor may take back the goods. In the case of credit agreements, you own the goods at the time of receipt of the credit. In this situation, the creditor cannot take back the goods and can only demand payments as stated in the contract. . . .