Leasing and finance
on-hire
On-hire is the point when a lessee takes possession of a leased container. One Way Lease says the condition is documented on the equipment interchange receipt, and the on-hire record starts the clock. The term comes from container leasing and applies to similar equipment deals.
Why it matters
The on-hire date matters because charges often begin then. A clear condition record also protects both sides when the unit comes back. A common mistake is to skip the inspection at pickup. Pre-existing dents or floor damage can then be blamed on the lessee. Operators should photograph each unit and sign the condition report. Many portable storage companies use the same idea with their own customers when they deliver a unit. The paperwork may use other names. The lessor's agreement sets the exact start date and what counts as possession.
Read: How to price a container rental fleet
Definition source: onewaylease.com
Related terms
off-hire
Off-hire is the end of a container lease when the lessee returns the unit. One Way Lease describes it as the return process: the depot does a condition survey, the lease closes and the unit comes off the lessee's books. The term is common in container leasing.
per diem
Per diem is Latin for "per day." In container leasing, it is the daily rate a lessee pays for each day a leased container is on-hire after any included free days. Lessors use it to price short and flexible leases, and it adds up quickly on idle units.
pick-up charge
A pick-up charge is a fee for collecting a container. In container leasing, One Way Lease describes it as a one-time fee at the origin depot for releasing a container into the lessee's possession. In portable storage rentals, companies often charge a separate fee to pick up a unit from the customer.
container condition report
A container condition report is a written record of a container's condition at one point in time. It lists findings such as dents, holes, rust, floor and door issues, usually with photos. Operators use it when units leave or return, using criteria such as the IICL inspection guide.
container survey
A container survey is a formal inspection of a container by a qualified surveyor, with a written result. Surveys check that a container meets safety standards, such as the CSC, before shipping. They can also support valuation and damage assessment. Costs vary by provider.
master lease
A master lease is a framework lease between a container owner and a lessee. Triton says its master lease suits companies that scale a fleet up or down with demand and need flexibility to pick up and drop off units. Exact terms differ by lessor, so each contract needs a careful read.
For the industry
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