Hire-purchase contract in Thailand

Under Thai law, hire-purchase contract or rent-to-buy is a contract in which a property owner leases it and promises to sell it to him. Or that it will become the property of the lessee, provided he makes a certain number of payments. The hire purchase agreement must be in writing form to be effective.
The tenant may terminate the contract at any time by returning the property to the owner at his own expense. The holder may also terminate the contract in the event of non-compliance with two subsequent payments, or violation of any substantial part of the contract. In this case all previous payments are returned to the owner who has the right to take back possession of the property.
In case of breach of contract, due to breach of the last payment, the owner has the right to renounce the previous payment and to regain possession of the property only after the expiry of one installment.

There are many cases in which the hire contract can be an excellent choice.

LCS offers all the consultancy services related to the drafting, verification and authentication of contracts for hire-purchase, but also numerous other services relating to the drafting and validation of commercial contracts and agreements.