maintenance contract in British English
(ˈmeɪntɪnəns ˈkɒntrækt)
noun
a formal agreement between two parties which states that one party will keep a building, vehicle, machine, etc, belonging to the other party in good condition by regularly checking it and repairing it when necessary
These machines cost $25,000, and the company can take out an 8-year maintenance contractfor $1000 a year.