A Property Licence Agreement is commonly used in Singapore when temporary or flexible property arrangements are needed without the formal commitments of a lease. This document is particularly relevant for short-term occupancy, pop-up venues, or shared spaces where exclusive possession isn't intended. The agreement defines permitted uses, duration, fees, and obligations while ensuring compliance with Singapore property laws and regulations. It offers greater flexibility in termination and variation compared to traditional leases, making it suitable for modern business needs while protecting both parties' interests.
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1. Parties: Details of the licensor and licensee
2. Background: Context of the licence agreement and property details
3. Definitions: Key terms used tHRoughout the agreement
4. Grant of Licence: Specific terms of the licence being granted
5. Licence Period: Duration of the licence including start and end dates
6. Licence Fee: Payment terms and amounts
7. Permitted Use: Allowed uses of the property under the licence
8. Licensee's Obligations: Responsibilities and commitments of the licensee
9. Licensor's Obligations: Responsibilities and commitments of the licensor
10. Termination: Conditions and process for ending the agreement
1. Security Deposit: Terms of security deposit when required from licensee
2. Insurance: Insurance requirements and obligations when specific coverage is required
3. Alterations: Rules regarding modifications to the property when alterations might be permitted
4. Assignment and Sublicensing: Rights to transfer or sublicense when transfer rights need to be addressed
1. Property Details: Detailed description of the licensed property including floor plans
2. Inventory List: List of furniture, fixtures, and equipment included in the licence
3. House Rules: Building or property specific rules and regulations
4. Payment Schedule: Detailed breakdown of payment terms and dates
5. Condition Report: Initial condition of the property at commencement
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