HP Agreements definition
Examples of HP Agreements in a sentence
HP Agreements carry a fixed rate of return, typically amortised in equal monthly instalments over the repayment period which varies between 6 and 60 months.
During the Advisory Period, you will continue to comply with all Company policies and procedures, applicable laws, any applicable written agreements you have entered with the Company, including, without limitation, your HP Agreements Regarding Confidential Information and Proprietary Developments (the “ARCIPD”, a copy of the most recent execution, signed on January 20, 2020, is attached hereto as Exhibit A).
Mainly directed at retail Obligors, HP Agreements are available for both new and used vehicles.
The Financing Contracts are governed by English or Scottish law and take the form of hire purchase agreements ("HP Agreements"), lease purchase agreements ("LP Agreements") and personal contract plan agreements ("PCP Agreements") between VWFS and Obligors pursuant to which the Obligors' repayments amortise in monthly instalments over the life of the Financing Contracts.