LeaseForce International - Commercial Equipment Leasing, Financing & Consulting Service Provider

Please use the search field below to search the Industry Dictionary for a particular word or a group of words, or use the letters below to search for expressions alphabetically.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Your search returned 18 result(s).

Half -Way Open-End Lease

An open-end lease in which either (a) the lessee is liable for any deficiency in actual equipment value below agreed residual value but does not receive any excess in equipment value over the agreed residual or (b) the lessee is not liable for any deficiency but is entitled to any excess.(The second situation is increasingly rare).

Half-Year Convention

(Tax based) The tax law, rule or regulation (as in Canada and the U.S.) that treats all depreciable assets acquired by the taxpayer at any time during the tax year as if they were acquired in the middle of the year, thereby providing only 50% of the depreciation that would have otherwise been available without the convention. The convention is designed to discourage taxpayers from lumping their acquisition of depreciable assets at year-end so as to get a full-year's depreciation for only a few days use.

Hell-Or-High Water Provision

A provision in a lease that the lessee must unconditionally pay the rent in all circumstances and without any excuse whatsoever, even if the equipment is defective, inadequate, fails to perform as expected, is seized by another party or government authority, is destroyed by casualty or otherwise without regard for its circumstance

High-Low Rental

A lease payment structure with a series of higher periodic payments followed by a series of lower periodic payments (i.e. step-down lease).

Hire

Rent; lease

Hire-Purchase/Agreements

In many countries, a lease that has an option to purchase; hire-purchase agreements are generally viewed as installment purchases or conditional sales.

Hirer

A party who rents an item; a lessee; the term is most appropriately used in connection with a short-term rental or a hire-purchase transaction and not a long-term lease.

Hiring

Renting.

Hold Harmless

1. To indemnify. 2. A shorthand reference for a hold harmless agreement (i.e. an indemnity agreement).

Hold Harmless Agreement

An indemnity agreement.

Holder

A party who possesses a negotiable instrument, regardless of the rightful owner of said negotiable instrument

Holder In Due Course

A holder who takes a negotiable instrument for value in good faith and without notice that it is overdue or has been dishonored or of any defense against or claim to it on the part of any person.

Holding Company

A corporation that does not actively engage in business directly itself, but which rather owns the stock of other companies which are directly engaged in business.

Honor

To accept a draft for payment.

Hurdle Rate

(Leasing based) The minimally acceptable yield in a lease transaction; which was named for the "hurdle" that a lessor's salesperson must get over in order to have the transaction approved and funded.

Hypothecate

A pledge without the delivery of the property pledged.

Hypothecated Asset

An asset that has been pledged.

Hypothecation

A pledge of an asset.