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Commercial Lease Letter Of Intent Template for Singapore

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Key Requirements PROMPT example:

Commercial Lease Letter Of Intent

"I need a Commercial Lease Letter Of Intent for a retail space in Singapore's Orchard Road area, approximately 2,000 square feet, with a proposed lease term of 3 years starting March 2025, including an option to renew for two additional years."

Document background
The Commercial Lease Letter of Intent is a crucial preliminary step in Singapore's commercial leasing process. It is typically used when a potential tenant has identified a suitable commercial property and wishes to formally express their interest and proposed terms to the landlord. This document serves as a fouNDAtion for negotiations and typically includes key commercial terms, conditions precedent, and basic obligations of both parties. While most provisions are non-binding, certain aspects may be legally enforceable under Singapore law. The LOI helps parties align their expectations before proceeding with the more detailed and formal lease agreement.
Suggested Sections

1. Property Details: Specific description of the premises including address, floor area, and permitted use

2. Commercial Terms: Rental rate, lease period, security deposit, and payment terms

3. Key Dates: Proposed commencement date, handover date, and validity period of the LOI

4. Basic Obligations: FuNDAmental responsibilities of both landlord and tenant

5. Conditions Precedent: Key conditions that must be met before proceeding with the formal lease

Optional Sections

1. Fitting Out Works: Details of renovation or modification requirements and conditions for premises alterations

2. Option to Renew: Terms and conditions for lease renewal, including notice periods and rental revision mechanisms

3. Break Clause: Early termination provisions including conditions and notice requirements

Suggested Schedules

1. Floor Plan: Detailed layout of the premises showing dimensions and key features

2. Building Rules and Regulations: Standard building management rules and operational guidelines

3. Existing Condition Photos: Photographic documentation of premises condition before handover

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºÚÁÏÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions



























Clauses




























Industries

Civil Law Act (Cap. 43): Primary legislation governing contractual relationships and obligations between parties in Singapore, providing the fundamental legal framework for lease agreements

Conveyancing and Law of Property Act (Cap. 61): Key legislation regulating property transactions and leases in Singapore, including requirements for lease execution and rights of parties

Planning Act (Cap. 232): Controls land use and development in Singapore, affecting permissible usage of commercial properties and zoning requirements

Building Control Act (Cap. 29): Regulates building works and safety standards, ensuring commercial premises meet required structural and safety specifications

Fire Safety Act (Cap. 109A): Stipulates mandatory fire safety requirements and regulations for commercial premises in Singapore

URA Guidelines: Urban Redevelopment Authority guidelines governing permitted use of premises and zoning regulations for commercial properties

BCA Requirements: Building and Construction Authority requirements specifying building codes and accessibility standards for commercial buildings

SLA Rules: Singapore Land Authority regulations governing land tenure and property ownership matters

Stamp Duties Act: Legislation governing lease registration requirements and stamp duty obligations for commercial property transactions

COVID-19 (Temporary Measures) Act: Temporary legislation providing relief measures for commercial tenancies during the COVID-19 pandemic period

Environmental Public Health Act: Legislation ensuring compliance with health and safety standards in commercial premises

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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