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EW 32: Consideration for agreement for sale and purchase (ASAP) of property or services, hire purchase agreement, specified option, or finance lease
or “How to determine the value of property or services in various agreements”
You could also call this:

“Costs and payments for hire purchase or finance lease agreements”

When you are part of a hire purchase agreement or a finance lease, you might pay or receive money for it. This is called consideration.

The consideration for these agreements includes more than just the price. It also covers any costs the person lending the item (the lessor) had to pay to get the item ready for you to use. This could be things like setting it up or installing it.

These extra costs are part of the consideration as long as they haven’t already been counted in another way. The law refers to this other way as section EW 32.

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Next up: EW 33B: Foreign ASAPs: designated FX hedges

or “Rules for foreign currency transactions with specific hedges in property or service arrangements”
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Part E Timing and quantifying rules
Financial arrangements rules: Consideration when financial arrangement involves property or services

EW 33Consideration for hire purchase agreement or finance lease

  1. This section applies when a party to a hire purchase agreement or a finance lease pays or is paid consideration for the agreement or lease.

  2. The consideration for a hire purchase agreement or a finance lease includes expenditure or loss incurred by the lessor in preparing and installing the hire purchase asset or personal property lease asset for use to the extent to which it is not taken into account under section EW 32.

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