Cycle to Work+ - Employer FAQ (for UK Only) - What Are 'Hire Periods', 'Hire Agreements', and 'Salary Sacrifice Period'?

Hire period: the period for which this agreement is valid; always 12 months.

Hire agreement: the ‘terms and conditions’ of Cycle2Work that are signed during the application process.

Salary Sacrifice term: the period of repayment; can be 12,18 or 24 months.