Examlex
The customer in a company that uses JIT is considered what?
Bargain Purchase Option
A lease option that allows the lessee to purchase the leased asset at the end of the lease term for a price significantly lower than the expected fair market value.
Minimum Lease Payments
The lowest amount that a lessee is obligated to pay over the lease term for the right to use an asset, including principal and interest.
Executory Costs
Expenses associated with the ongoing execution of agreements or contracts, such as maintenance and insurance costs in leasing agreements.
Guarantee
A promise or assurance, typically in writing, that certain conditions will be fulfilled, often related to the quality, durability, or performance of a product.
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