- operating lease
operating lease see lease
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- operating lease
This differs from a finance lease in that rental relates to the use of the equipment rather than the acquisition cost. Leases are "wet" if the lessor provides operational staff, servicing and so forth, and "dry" if the equipment alone is provided.
Easyform Glossary of Law Terms. — UK law terms.
- operating lease
A lease for which the lessee acquires the property for a small portion of its useful economic life. It is commonly used to acquire equipment on a short-term basis and differs from a finance lease primarily in that the expectation of the parties at the inception of the lease is not that the operator will eventually acquire title to the leased equipment.Related links+ operating leaseUSAA lease in which the lessor transfers only the right to use the property to the lessee. The risk of loss and rights of ownership (such as the right to depreciate the asset) remain with the lessor. At the end of the lease term, the lessee returns the property to the lessor. Payments made with respect to an operating lease are treated as an operating expense in the financial statements of the lessee. This is in contrast to a capital lease.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
Operating lease — An operating lease is a lease whose term is short compared to the useful life of the asset or piece of equipment (an airliner, a ship, etc.) being leased. An operating lease is commonly used to acquire equipment on a relatively short term basis.… … Wikipedia
operating lease — See lease. American Banker Glossary short term, cancelable lease. A type of lease in which the contract period is shorter than the life of the equipment, and the lessor pays all maintenance and servicing costs. Bloomberg Financial Dictionary * *… … Financial and business terms
Operating lease — Short term, cancelable lease. A type of lease in which the period of contract is less than the life of the equipment and the lessor pays all maintenance and servicing costs. The New York Times Financial Glossary * * * operating lease operating… … Financial and business terms
operating lease — A lease under which an asset is hired out to a lessee or lessees for a period that is substantially shorter than its useful economic life. Under an operating lease, some of the risks and rewards of the ownership of the leased asset remain with… … Accounting dictionary
operating lease — A lease under which an asset is hired out to a lessee or lessees for a period that is substantially shorter than its useful economic life. Under an operating lease, the ownership of the leased asset remains with the lessor. Statement of Standard… … Big dictionary of business and management
operating lease — A lease agreement, usually cancellable, which provides the lessee with the use of an asset for a period of time which is considerably shorter than the useful life of the asset. Unlike a capital lease, the lessee in an operating lease does not… … Black's law dictionary
Operating Lease — A lease contract that allows the use of an asset, but does not convey rights similar to ownership of the asset. An operating lease is not capitalized; it is accounted for as a rental expense … Investment dictionary
operating lease — veiklos nuoma statusas Aprobuotas sritis buhalterinė apskaita ir finansinė atskaitomybė apibrėžtis Nuomos rūšis, kai perduodant turtą nuomininkui neperduodama didžioji dalis rizikos ir naudos, susijusios su turto nuosavybe. atitikmenys: angl.… … Lithuanian dictionary (lietuvių žodynas)
operating lease — A *lease whose contractual terms and economic effects do not involve the transfer of the *risks and *rewards of a leased asset. Under most systems of *Generally Accepted Accounting Principles, a *lessee does not *capitalize an asset obtained… … Auditor's dictionary
lease — 1 / lēs/ n [Anglo French les, from lesser to grant by lease, from Old French laisser to let go, from Latin laxare to loosen, from laxus slack] 1 a: a contract by which an owner of property conveys exclusive possession, control, use, or enjoyment… … Law dictionary