Commercial Lease Termination Agreement Template for Singapore

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Key Requirements PROMPT example:

Commercial Lease Termination Agreement

"I need a Commercial Lease Termination Agreement for our retail store in Singapore's Orchard Road, with an early termination date of March 1, 2025, including specific provisions for the removal of custom-built store fixtures and settlement of the remaining lease payments."

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.

Suggested Sections

1. Parties: Identification of landlord and tenant with full legal names and addresses

2. Background: Details of original lease agreement and reason for termination

3. Definitions: Key terms used tHRoughout the agreement

4. Termination Date: Specific date when lease will terminate

5. Settlement Terms: Financial settlement including rent, deposits, and outstanding payments

6. Handover Requirements: Conditions for returning the property

7. Release of Obligations: Mutual release from lease obligations

8. Governing Law: Confirmation of Singapore law as governing law

Optional Sections

1. Reinstatement Works: Details of required property restoration, used when specific restoration work is required

2. Confidentiality: Terms of confidentiality regarding termination, used when parties want to keep termination terms private

3. Surviving Provisions: Clauses that continue after termination, used when certain obligations continue post-termination

Suggested Schedules

1. Schedule 1 - Property Details: Details of the leased property

2. Schedule 2 - Settlement Calculation: Detailed breakdown of financial settlement

3. Schedule 3 - Handover Checklist: List of items to be checked during property handover

4. Appendix A - Original Lease: Copy of original lease agreement

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Retail
Office
Industrial
Food & Beverage
Healthcare

Relevant Teams

Legal
Real Estate
Operations
Finance
Facilities Management

Relevant Roles

Property Manager
Facilities Manager
Legal Counsel
Real Estate Director
Operations Manager

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Let's create your Commercial Lease Termination Agreement

Authors

Alex Denne

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