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Hire Purchase Application & AgreementORIGINAL Hitachi Credit (HK) Ltd.The Schedule Agreement No.: PARTICULARS OF APPLICANT Name in English MR. MS. Name in Chinese ID No. (in BLOCK letters ) Please.

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There are two main types of hire purchases based on the functional purpose of the asset involved. These types are the consumer and industrial hire purchase agreements.

Hire-purchase contract can be considered as a contract for preparing and transfer of movable and immovable properties by seller on the condition that if the amount of contract returns in certain installments the buyer will become the owner of properties.

Hire purchase is a form of finance. Essentially you have bought the item and used a loan (from the finance company) to pay for it. With HP you are considered the owner of the item immediately, the item appears as an asset on your balance sheet, and the balance owing to the finance company appears as a liability.

Thus, there are two elements of 'hire' and 'purchase', involved in hire purchase agreements. The first element is the bailment of goods subject to hire, and the second aspect is the sale of these goods. Terms, conditions and promises between the parties (seller and hirer/purchaser) are mentioned in the agreement.

A hire purchase (HP) agreement is a credit agreement. You hire an item (for example, a car, laptop or television) and pay an agreed amount in monthly payments. You do not own the item until you have made the final payment. Personal Contract Plans (PCPs) are a type of hire purchase agreement.

an object of the sale and delivery terms. a price and payment terms. information about the competent authority to settle the account between a seller and buyer for a hire-purchase. a clause that the seller has the ownership of the object of the sale until the purchase has been fully paid.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232