### Question
How does the law define long-term lease or charter?


### Answer
Under *10 U.S.C. § 2401*, **long-term lease or charter** is defined as:

> 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**

