define explain f

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F

Facility agreement – see Loan agreement.

Financial Services Guide – Provides information to prospective customers about the products and services offered by a finance company.

Finance Lease – A loan where the borrower takes on the benefits and risks of owning a vehicle, but the lessor retains the legal title. Also see Commercial Hire Purchase, Chattel Mortgage, Novated Lease.

Fixed interest – An interest set a constant level for the agreed period.

Fixed term loan – A loan that must be repaid within a certain period.

Fringe Benefits Tax – Tax paid by employers on benefits provided to employees through salary packaging (for example, a vehicle provided for the employee through a novated lease agreement).