Maintenance Costs
/ˈmeɪntənəns kɒsts/
Definitions
- (n.) Expenses incurred for the upkeep, repair, or preservation of property or assets within a legal or contractual context.
The contract specified who would be responsible for maintenance costs during the lease period.
Forms
- maintenance costs
Related terms
See also
Commentary
Maintenance costs often appear in lease agreements and contracts to delineate financial responsibility for asset upkeep.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.