Non Binding Letter Of Intent To Lease Template for Singapore

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Key Requirements PROMPT example:

Non Binding Letter Of Intent To Lease

"I need a Non-Binding Letter of Intent to Lease for a retail space in Singapore's Orchard Road area, with a proposed lease term of 3 years starting March 2025, including an exclusivity period of 30 days for negotiations."

Document background
The Non-Binding Letter of Intent to Lease is commonly used in Singapore's real estate market as a preliminary step before entering into a formal lease agreement. It typically outlines key commercial terms such as rental rates, lease duration, and basic conditions while explicitly stating its non-binding nature. This document is particularly useful in commercial property transactions where parties need to establish clear communication of intent and basic terms before proceeding with detailed lease negotiations and due diligence. Under Singapore law, while the document itself is non-binding, it provides a structured framework for subsequent negotiations and helps parties align their expectations early in the process.
Suggested Sections

1. Opening Statement: Date, parties involved, and property details

2. Non-Binding Declaration: Clear statement that the LOI is non-binding and does not create legal obligations except where explicitly stated

3. Proposed Terms: Key commercial terms including proposed rental, lease term, and property usage

4. Timeline and Process: Expected timeline for negotiation and formal lease execution

5. Closing and Signatures: Signature blocks, date, and contact information for both parties

Optional Sections

1. Exclusivity Period: Terms regarding exclusive negotiation rights and duration

2. Confidentiality Provisions: Non-disclosure obligations regarding the negotiations and shared information

3. Due Diligence Process: Framework for property inspection and documentation review

4. Conditions Precedent: Any specific conditions that need to be met before proceeding with formal lease

5. Cost Allocation: Distribution of costs related to the lease preparation and due diligence

Suggested Schedules

1. Property Floor Plan: Basic layout and dimensions of the premises

2. Proposed Lease Terms Summary: Detailed list of key commercial terms and conditions

3. Property Information Sheet: Technical specifications, facilities, and amenities of the property

4. Required Documentation List: List of documents required for due diligence and lease completion

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

Industries

Civil Law Act (Chapter 43): Primary legislation governing contractual relationships and enforceability in Singapore. Essential for understanding basic contract law principles even in non-binding documents.

Conveyancing and Law of Property Act (Chapter 61): Key property law legislation in Singapore that governs real property transactions and interests in land.

Land Titles Act (Chapter 157): Legislation governing the registration and transfer of land titles in Singapore, important for understanding property rights.

Estate Agents Act (Chapter 95A): Regulates real estate agency practice in Singapore, relevant if real estate agents are involved in the transaction.

BCA Regulations: Building and Construction Authority regulations governing building control and safety requirements, particularly important for commercial properties.

URA Guidelines: Urban Redevelopment Authority guidelines covering zoning requirements and permitted property usage in different areas.

HDB Rules: Housing & Development Board regulations that apply if the property is HDB-regulated or falls under HDB jurisdiction.

Non-Binding Statement Requirement: Legal requirement to clearly state the non-binding nature of the Letter of Intent to prevent unintended legal obligations.

Confidentiality Provisions: Legal framework for protecting confidential information shared during the LOI process.

Timeline and Duration Specifications: Legal requirements for specifying the duration of the LOI and proposed timeline for the formal lease agreement.

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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