### Question
How is the "long-term lease or charter" defined?


### Answer
The term **long-term lease or charter** is defined in *10 U.S.C. § 2401* as follows -

> a lease, charter, service contract, or conditional sale agreement—


(i) the term of which is for a period of three years or longer

#### Citation:
  - *10 U.S.C. § 2401*
  - Heading: **Subtitle A-General Military Law     > PART IV-SERVICE, SUPPLY, AND PROCUREMENT   > CHAPTER 141-MISCELLANEOUS PROCUREMENT PROVISIONS**

