Document background
The Master Lease Agreement serves as a fundamental document for organizations seeking to establish a standardized framework for leasing multiple properties in Nigeria. This agreement is particularly valuable for businesses expanding their physical presence across different locations, as it eliminates the need to negotiate separate lease agreements for each property while ensuring consistency in terms and conditions. The document incorporates essential provisions required under Nigerian law, including compliance with the Land Use Act, state-specific property regulations, and relevant commercial laws. It typically includes mechanisms for adding or removing properties, standardized maintenance requirements, rent review provisions, and dispute resolution procedures. The Master Lease Agreement is designed to provide both flexibility for property-specific requirements and stability through standardized core terms, making it an efficient tool for managing multiple lease arrangements under Nigerian jurisdiction.
