The Company Let Agreement is a fundamental commercial contract used in Singapore when one company (landlord) leases commercial property to another company (tenant). This document is essential for establishing clear terms in business property rentals, incorporating Singapore's specific commercial property regulations and requirements. It covers crucial elements including rent, maintenance, permitted use, insurance, and statutory compliance. The agreement is particularly important in Singapore's dynamic business environment where commercial property relationships need careful regulation and clear documentation. It provides both parties with legal certainty and clear operational guidelines while ensuring compliance with local property and commercial laws.
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1. Parties: Details of the landlord and tenant, including registration numbers and registered addresses
2. Background: Context of the lease arrangement and property details
3. Definitions: Key terms used throughout the agreement
4. Demise: Specific details of the property being leased
5. Term: Duration of lease and commencement date
6. Rent and Payment Terms: Rental amount, payment schedule, and method
7. Security Deposit: Amount and terms of security deposit
8. Tenant's Covenants: Obligations and responsibilities of the tenant
9. Landlord's Covenants: Obligations and responsibilities of the landlord
10. Insurance: Required insurance coverage and responsibilities
11. Termination: Conditions for early termination and process
1. Option to Renew: Terms for lease renewal, used when offering renewal options
2. Break Clause: Conditions for early termination by either party
3. Fit-out Works: Terms regarding premises modifications and renovation work
4. Service Charge: Additional charges for building services and maintenance
1. Schedule 1: Property Plans: Detailed floor plans and property boundaries
2. Schedule 2: Inventory: List of fixtures and fittings included in lease
3. Schedule 3: Building Rules: Specific rules and regulations for the building
4. Schedule 4: Permitted Use: Detailed description of allowed business activities
5. Schedule 5: Service Charge Items: Breakdown of service charge components
6. Appendix A: Handover Form: Condition report at commencement of lease
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