This is with regard to a advance that I wish to give my stockists towards purchasing a storage equipment. I do not want to show those equipment in my books, yet i want to somehow retain the rights over the assets in case there is termination of our relationship with the stockiest in which case i can take the machinery back and install in the new stockiest's premises. Is there any arrangement by which this can be done? If i enter into a hire purchase agreement, can i maintain control of the assets and yet not have to show them in my books? Please advice..
12 April 2012
U can enter into an agreement with such stockist that if in any case, the relationship is broked, the stockist has to transfer back the asset to such person as directed by U at price mutually agreed. In this way u can retain control over the asset.
CAclubindia
