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Vendor Space Rental Agreement
"I need a Vendor Space Rental Agreement for a 50-square-meter retail space in my shopping mall in Manila, with a 3-year term starting March 1, 2025, including specific provisions for luxury retail operations and percentage rent calculations."
1. Parties: Identification of the landlord/lessor and vendor/lessee with complete legal names and addresses
2. Background: Context of the agreement, brief description of the premises and intended use
3. Definitions: Definitions of key terms used throughout the agreement
4. Premises: Detailed description of the vendor space, including location, size, and boundaries
5. Term and Renewal: Duration of the lease, commencement date, and renewal options
6. Rent and Other Charges: Rental amount, payment schedule, security deposit, utilities, and other applicable fees
7. Permitted Use: Specified authorized use of the space and any restrictions on business activities
8. Operating Hours and Requirements: Required business hours, mall/building rules, and operational standards
9. Maintenance and Repairs: Responsibilities for maintenance, repairs, and improvements
10. Utilities and Services: Provisions regarding utility connections, payments, and building services
11. Insurance and Liability: Required insurance coverage and allocation of risks
12. Default and Remedies: Events of default and corresponding remedies for both parties
13. Termination: Grounds for termination and the process for ending the agreement
14. General Provisions: Standard boilerplate clauses including governing law, notices, and entire agreement
1. Fit-out Works: Used when the vendor needs to perform initial construction or modifications to the space
2. Common Areas: Include when the space is within a mall or shared commercial building
3. Marketing and Promotion: Required for retail spaces in malls where joint marketing efforts are expected
4. Exclusivity: Used when granting exclusive rights to sell certain products or services
5. Guarantees: Include when personal or corporate guarantees are required
6. Assignment and Subletting: Detailed provisions when transfer rights are complex or important
7. Force Majeure: Extended provisions for unforeseen events, particularly relevant post-COVID
8. Environmental Compliance: Include for businesses with environmental impact or specific requirements
1. Floor Plan: Detailed plan showing the exact location and measurements of the leased space
2. Rent Schedule: Breakdown of rent, escalations, and other recurring charges
3. House Rules: Building or mall regulations and operational guidelines
4. Fit-out Guidelines: Technical specifications and requirements for space modifications
5. Utility Rates: Current rates and calculation methods for utility charges
6. Permitted Use Details: Specific list of allowed products, services, and activities
7. Insurance Requirements: Detailed insurance coverage requirements and minimum limits
8. Form of Bank Guarantee: Template for required bank guarantee or security deposit
Authors
Retail
Commercial Real Estate
Shopping Centers and Malls
Food and Beverage
Fashion and Apparel
Electronics and Technology
Health and Beauty
Financial Services
Entertainment
Service Industry
Small and Medium Enterprises
Legal
Real Estate
Operations
Facilities Management
Finance
Risk and Compliance
Business Development
Property Management
Leasing
Commercial Operations
Property Manager
Leasing Manager
Real Estate Director
Commercial Operations Manager
Retail Operations Manager
Legal Counsel
Business Development Manager
Mall Manager
Facilities Manager
Contract Administrator
Finance Director
Risk Manager
Compliance Officer
Store Owner
Retail Business Owner
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