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Guarantee Of Lease Form

Guarantee Of Lease Form Template for Singapore

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Key Requirements PROMPT example:

Guarantee Of Lease Form

"I need a Guarantee of Lease Form for a commercial property in Singapore's CBD area, where a parent company will guarantee a 3-year lease starting March 2025 for their subsidiary company, with the guarantee covering both rental payments and property maintenance obligations."

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What is a Guarantee Of Lease Form?

The Guarantee of Lease Form is commonly used in Singapore's property market when landlords require additional security beyond the tenant's covenant. This document becomes particularly relevant for commercial leases, first-time tenants, or situations where the tenant's financial standing alone may not satisfy the landlord's requirements. The guarantee typically covers rent payment, property maintenance obligations, and other lease terms. Under Singapore law, such guarantees must be in writing and clearly specify the guaranteed obligations, making this formal document essential for proper risk management in leasing arrangements.

What sections should be included in a Guarantee Of Lease Form?

1. Parties: Details of the Guarantor, Landlord, and Tenant

2. Background: Reference to main lease agreement and context for guarantee

3. Definitions: Key terms used in the guarantee agreement

4. Guarantee and Indemnity: Core obligations of the guarantor

5. Duration: Term of the guarantee

6. Guarantor's Obligations: Specific duties and responsibilities

7. Enforcement: Rights of the landlord to enforce the guarantee

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

What sections are optional to include in a Guarantee Of Lease Form?

1. Joint and Several Liability: Required when multiple guarantors are involved

2. HDB Compliance: Special provisions for HDB properties

3. Corporate Guarantor Provisions: Additional provisions for corporate guarantors

What schedules should be included in a Guarantee Of Lease Form?

1. Schedule 1 - Principal Lease: Copy or details of the main lease agreement

2. Schedule 2 - Guaranteed Obligations: Detailed list of obligations being guaranteed

3. Appendix A - Property Details: Details of the leased property

4. Appendix B - Personal Information Form: Guarantor's personal and contact information

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 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



















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Industries

Civil Law Act (Cap. 43): Key legislation requiring guarantees to be in writing and signed, particularly Section 6. Fundamental for the formal requirements of the guarantee.

Landlord and Tenant Act (Cap. 163): Governs the fundamental landlord-tenant relationship and underlying lease obligations that are being guaranteed.

Housing and Development Act (Cap. 129): Crucial for HDB properties, containing specific regulations on subletting and guarantees for public housing.

Contracts Act (Cap. 53): Establishes general contract law principles, requirements for valid contract formation, and provisions regarding consideration.

Stamp Duties Act: Governs requirements for proper stamping of guarantee documents and timing of stamp duty payments.

Bankruptcy Act (Cap. 20): Addresses implications of guarantor's bankruptcy and rights of creditors in such situations.

Limitation Act (Cap. 163): Sets time limits for enforcing guarantees and prescription periods for claims.

Personal Data Protection Act 2012: Regulates the collection and handling of personal data of guarantors, including consent requirements.

Common Law Principles: Relevant case law and judicial precedents regarding guarantees in Singapore's legal system.

Market Practice Standards: Standard market practices and customs in Singapore regarding lease guarantees.

Enforceability Requirements: Specific legal requirements to ensure the guarantee is enforceable in Singapore courts.

Guaranteed Obligations Framework: Legal framework for clearly defining the scope and extent of guaranteed obligations.

Rights of Subrogation: Legal principles governing the guarantor's rights of subrogation and indemnity under Singapore law.

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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