What Are 'Hire Periods and 'Hire Agreements'Updated 8 months ago

Your hire agreement is essentially the 'terms and conditions' of your Cycle to work scheme which you will agree to when applying. Your hire period is the period that this agreement is valid for. It's traditionally also the period in which you will pay your salary sacrifice however, there may be circumstances where your salary sacrifice may be longer and your costs spread over a longer period of time. This will be at your employer's discretion and you will be notified if this is the case.