contract hire

/'kɒntrækt haɪə/ noun
a system that allows organisations to hire equipment that they need to use for a long period, e.g. cars or office machines, from other organisations instead of buying it, on condition that they sign a contract for the hire with owners
(NOTE: Contract hire agreements often include arrangements for maintenance and replacement.)

Marketing dictionary in english. 2015.

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  • Hire purchase — Hire purchase, or, more fully, Hire purchase agreement Hire purchase agreement, or Hire and purchase agreement Hire and purchase agreement (Law) A contract (more fully called contract of hire with an option of purchase) in which a person hires… …   The Collaborative International Dictionary of English

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  • hire — 1 n 1: payment for the temporary use of something or for labor or services 2 a: the act or an instance of hiring from the date of hire until now b: the state of being hired: employment while he was in the hire of the …   Law dictionary

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  • contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… …   Law dictionary

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