A short term contract, closely resembling a rental contract, that can be revoked by the lessee before the end of contract period if he so wishes. The asset can be leased to several successive lessees, meaning that the leasing period usually does not cover the asset's entire economic lifetime. The lessee retains his right to revoke the contract. The leasing charges usually include both service and rental costs.

Leasing based on an agreement where the lessee gets the user right but where the risks and benefits of ownership are not transferred to the lessee. Also includes leasing (rental) and charter of ships, aircraft and transportation equipment, such as railway cars, containers and rigs without operators or crew.