equipment trust

equipment trust. A financing device commonly used by railroads in which a trustee and the railroad together buy equipment from a manufacturer, with the trustee providing most of the purchase price, and the trustee then leases the equipment to the railroad, which pays a rental fee comprising interest, amortization for serial retirement, and the trustee’s fee.

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词条贡献者

译者Lorna，毕业于国内一流的法学院，擅长翻译各种与商业秘密相关的法律文件。