The lease, or leasing term, is the duration of the leasing transaction. This is the term for which the lesseeThe lessee is the user of... More has the right to use the leasing assetThe leasing asset is the subject... More against payments, as per the terms of the leasing contract. The leasing term begins from the conclusion of the lease contract or the delivery of the leasing assetThe leasing asset is the subject... More and continues until all obligations under this contract have been completed. Usually, the leasing term is set in months, multiples of 6, for example,12 months, 18 months, 24 months, 36 months, etc. This is due to the standard monthly payment of the lease installments.
All leasing contracts with a term shorter than 18 months are considered short-term. These with a duration of 18-36 months are mid-term and the ones exceeding 36 months are long-term.
