Document background
A Commercial Lease Termination Agreement is essential when parties wish to formally end their lease arrangement before the originally agreed termination date. This document, governed by Singapore law, provides a clear framework for early termination, protecting both landlord and tenant interests. It typically includes provisions for financial settlements, property restoration requirements, and release of future obligations. The agreement ensures compliance with Singapore's property legislation, including the Conveyancing and Law of Property Act and relevant COVID-19 measures where applicable. It's particularly crucial for maintaining clear records and preventing future disputes regarding the termination.
