| Term | Financial lease | | Definition | A financial lease is a contract between lessor and lessee whereby the lessor purchases a good that is put at the disposal of the lessee and the lessee pays rentals that enable the lessor, over the period of the contract, to cover all, or virtually all, costs, including interest; all the risks and rewards of ownership are, de facto, transferred from the legal owner of the good (the lessor) to the user of the good (the lessee). | | Paragraphs | 13.23.;[6.118.];[7.107.];[10.44.] |
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